Company Briefs

k4korny SG

For Corporate news that is likely to have an impact on the stock market or share price.

Just treat this as a scratch pad. Please feel free to comment on any of the data posted.

k4korny SG

Chartered Semiconductor swings to Q2 loss of US$67.1m

Singapore's Chartered Semiconductor Manufacturing has swung to a loss in the second quarter.

The world's fourth-largest contract chip maker reported a net loss of US$67.1 million, compared with a net profit of US$15.3 million in the year-earlier quarter.

But the loss in the three months to June was smaller than analysts forecast for a net loss of US$79.9 million.

k4korny SG

Budget Airlines Jetstar and Valuair merge
SINGAPORE : Singapore-based budget carriers Jetstar Asia (in which Qantas has a 49 percent stake) and Valuair have merged, the firms said Sunday, in the first major consolidation of Southeast Asia's crowded low-cost airline industry. Qantas-backed Jetstar Asia and Valuair said they would continue to operate their normal routes under their own brands "for the foreseeable future, with little or no change to the service offered by either airline".

...

However the Business Times newspaper said last week the deal was expected to hinge on the injection of more than 50 million Singapore dollars (30 million US) in fresh capital into the new entity, largely to be provided by Qantas.

Investment company Temasek Holdings, which owns 19 percent of Jetstar, could also put up fresh capital, the report said.

Shareholders of Valuair, including airline industry veteran Lim Chin Beng, Malaysia's Star Cruises and Asiatravel.com, would become minority shareholders in the merged company, according to the paper.

Jetstar Asia flies between Singapore India, Hong Kong, Bangkok, Manila and Taipei. Valuair flies between Singapore and Hong Kong, Jakarta, Perth and Bangkok.
---
Southeast Asia's fledgling low-fare airline industry has been under pressure to consolidate amid tough competition, soaring jet fuel costs and reluctance by governments to open up their domestic aviation sectors.

Kevin Scully, MD, NRA Capital, said: "I think AirAsia, Tiger Airways (backed by SIA) because of their parenthood and because of their listing status will probably be two of the three survivors."

The single biggest impact to hit budget carriers this past year was rising oil prices which is seen as having raised Valuair's operating cost by between 20 to 30 percent.

The other was the aggressive and protracted price war among budget airlines and full-fledged carriers in their fight for market share.

Mr Scully said: "I think that had an impact on the yields, I think that's what probably meant that the losses they sustained were a lot higher than what they expected. And probably the money which they have set aside for the 3 years probably now shortened to 1 to 2 years or 1.5 years."

- Source http://www.channelnewsasia.com/stories/singaporebusinessnews/view/159604/1/.html

dragg SG

Originally posted by k4korny:
[b]Chartered Semiconductor swings to Q2 loss of US$67.1m

Singapore's Chartered Semiconductor Manufacturing has swung to a loss in the second quarter.

The world's fourth-largest contract chip maker reported a net loss of US$67.1 million, compared with a net profit of US$15.3 million in the year-earlier quarter.

But the loss in the three months to June was smaller than analysts forecast for a net loss of US$79.9 million.
[/b]

a company that has not made a single year of profit since its listing.

k4korny SG

haha... u got a xin suan relationship with this coy huh? Wink
their technology is miles behind the top 2.. earlier this year they have even publicly announced that they dun mind being taken over!! Shocked

coy with lotsa $$ but lousy mgmt.

dragg SG

lots of money from our reserves.

they have lost at least a few hundred million dollars.

k4korny SG

TI net rises 42%; sales flat
SAN FRANCISCO (MarketWatch) -- Texas Instruments said late Monday that second-quarter net income rose 42% from a year ago, despite flat sales, as the company operated factories more efficiently and benefited from a lower tax rate.

TI reported net income of $628 million, or 38 cents a share, up from $441 million, or 25 cents, in the year-ago quarter. The results were helped by a 6-cents-a-share tax gain.

Quarterly revenue was unchanged from a year earlier at $3.24 billion. Analysts polled by Thomson First Call had forecast earnings of 29 cents a share and revenue of $3.18 billion.

The world's third-biggest chip manufacturer also said it plans to boost its annual dividend by 20% to 12 cents a share, while its board approved a $2 billion stock-repurchase plan.

German chipmaker Infineon posts third quarter loss
Infineon, Europe's second-biggest maker of semi-conductors, posted a third-quarter loss owing to declining memory chip prices and restructuring costs linked to the closure of a Munich plant.

Infineon said earnings before interest and tax showed a loss of 234 million euros (282 million dollars), compared with a profit of two million euros in the same period one year earlier.

The group's net loss widened to 240 million euros from a loss of 56 million, much worse than forecasts which ranged from 75 to 187 million in losses.

(Possible SGX counters: Semicon related coy eg. Chartered, STATS CHIPPAC )

k4korny SG

Suntec REIT to distribute S$20.1m to unit-holders for June quarter
Source: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/159972/1/.html

SINGAPORE : Suntec REIT will be distributing an income of S$20.1 million to unit-holders for the three months to June.

This amounts to a distribution per unit of 1.56 cents, which is 5% higher than forecast.

For the year-to-date, Suntec REIT's annualised distribution per unit is 6.11 cents.

The distribution yield works out to 5.1% based on Monday's closing price of S$1.19 per unit.

The REIT's strong performance is due to the buoyant office market, with rents increasing by 11.1%.

Suntec REIT says its office occupancy is close to 90%.

With limited supply of quality office space over the next three years and an expected increase in demand for office space, the trust expects occupancy and rentals to continue on the upward trend.

- CNA /ls

Very positive news for S-Reit. As at 26/7, Suntec REIT closes @ 1.180. Let's see what happens tomorrow.
(PS: Eh, ah Shade, stop smiling!)

k4korny SG

As expected, Suntec Reit up 0.03 to close at 1.21 today.

shade343 SG

Damn! I wanted to buy 5 more lots at $1.16... Mad Mad Mad

I guess I should be contented with 8 lots at an average of $1.14.... Laughing

k4korny SG

$580 (*edit) profit so far.. Mai hiam bei pai lah.. Laughing
so u sold liao buey? or keeping it to wait for the dividends?

KepLand is may also be launching a REIT next year leh..

shade343 SG

Not likely to sell...I want more. Laughing But today its going to go up again....

k4korny SG

STATS ChipPAC Reports Second Quarter Results
Year-On-Year Revenue (for the three months ended June 30, 2005) increased 90% to $264.3 million. This represents a sequential increase of 13% compared to the prior quarter and is in line with prior guidance. While net loss narrowed to $15.1 million

'For the third quarter 2005, we expect revenue to be approximately 9 per cent to 14 per cent higher than the second quarter 2005, with US GAAP net loss per ADS of US$0.07 to US$0.04 and non-US GAAP adjusted net income per ADS in the range of US$0.01 to US$0.04 per ADS for the third quarter of 2005.'

Source: http://www.statschippac.com/en-US/STATSChipPAC/NewsCenter/PressReleases/STATSChipPAC/STATS+ChipPAC+Reports+Second+Quarter+Results.htm

IMO, it's not too bad a result. Stats Chippac 8c lower to close at $1.21. (28 July)

Seems like analyst are not happy with their Q3 forecast.
Stats Chippac dropped to a intraday low of 1.12. Currently trading at $1.15 down 6c (29 July 16:48 )

k4korny SG

DBS SECOND-QUARTER EARNINGS UP 28%
EXCLUDING LAST YEARS ONE-TIME GAINS
See results here

- BOARD RAISES ORDINARY DIVIDEND TO 15 CENTS A SHARE FOR SECOND QUARTER
- Strong loan growth boosts interest income
- Fee income sets quarterly record on higher business activity
- Operating costs decline from previous quarter
- Asset quality further enhanced as non-performing assets fall

DBS close 50cents up at $16.20
Woo-hoo!! Wat a way to end the week!! will be laughing to the bank (pun intended Wink )

UOB should be announcing the Q2 results soon.. watch out for it.

k4korny SG

There was a slew of corporate results out after the bell on Fri.. drats!
will slowly try to sieve thru them.. and see if there's anything worth posting.
siongzzz.. Rolling Eyes

k4korny SG

First.. some smaller cap stocks:
published on 30 July 2005

Fu Yu's first-half net profit plummets

FU YU Corp's first-half net profit plunged almost 60 per cent to $10.7 million in FY 2005 from $26.4 million in the previous corresponding period. Its first-half turnover also dipped 3.3 per cent to $183.8 million from $190.1 million. Fu Yu said the poor results were due to price pressure from customers, increase in costs due to rising oil prices and increase in labour cost in China subsidiaries.

Bad signs of things to come in the mfgr industry. Other mfgr results out within this 2 weeks.. watch out for it. Fu yu down 5c to 0.540

Exceptional gain lifts S'pore Shipping

SINGAPORE Shipping Corp posted a more than six-fold rise in first-quarter net profit to $45.7 million from $7.3 million in the previous corresponding quarter. The earnings include a $41.3 million exceptional gain from the disposal of a vessel, a subsidiary and an an associated company. Without the exceptional items, its Q1 earnings dropped close to 40 per cent to $4.4 million. Its quarterly revenue dipped 8.3 per cent to $23.2 million from $25.3 million previously. It said operating results will be affected by the sale of the vessels, and the favourable impact from higher charter rates for its car carriers will be felt mainly from the third quarter of this financial year.

I was thinking how can a shipping coy post such profits with oil prices rising so much! exceptional gains.. Sp shipping down 0.005 to 0.585.

k4korny SG

in last week's results ann't, we saw oil prices taking it's toll on coys.

There was cheers in the oil sectors:

Keppel Corp posts a 17% rise in H1 net profit to S$227m
28-jul-05
KepCorp Press Release
CNA report

SPC's Q2 profit quadruples to $101.7m
27-jul-05
Unaudited Q1 Report

And lows for those which depended on oil

SIA Q1 profit falls 8% to $235m on high fuel costs
30-jul-05
CNA report
- The bottom line was achieved on the back of a 12 per cent or $320 million rise in revenue to $3.04 billion, thanks to robust passenger and cargo traffic. But rising fuel costs raised its expenditure by 15.3 per cent or $370 million to $2.79 billion.
- Still, they say SIA may be able to count on its subsidiaries to boost its earnings. The carrier's aircraft maintenance unit, SIA Engineering, posted a 27 percent rise in first quarter net profit to S$55 million. The cargo handling and flight catering subsidiary, Singapore Airport Terminal Services, saw a first quarter net profit of S$51 million, up 4.5 percent on-year.

And in other news, Osim, Raffles Holdings, SMRT and singpost also posted good results for their investors to cheer for.

k4korny SG

US stocks end mixed despite good results
- The Dow Jones Industrial Average closed at 10,623.15, 17.76 points (0.17 percent) lower.

- ISM factory index hits highest level in 2005. The ISM index rose to 56.6% in July from 53.8% in June. It's the 26th straight month of growth in the sector. Economists were expecting an increase to 54.5%. Readings over 50% indicate growth in the manufacturing sector.

- Shares of Procter & Gamble Co., fell 0.6% to $55.32 despite forecast-beating fourth-quarter results. However, results show a drop in gross margins due in part to higher commodity costs.

- Wal-Mart Stores Inc. said July same-stores sales growth is expected to come in at 4.4%. The company previously forecast same-store sales for the month would rise in a range of 3% to 5%. Stock rose 0.4% after the discount retailer

- Exxon Mobil Corp. rose 0.8% as energy stocks rallied on the latest spike in oil prices.

k4korny SG

Cosco first-half profit jumps 115% to S$65m
SINGAPORE : Ship repair and shipping group Cosco Corp. has more than doubled its second quarter profit from a year ago.

For the three months to June, profit hit an all-time high of S$39.4 million, taking its half-time earnings to more than S$65 million, up 115%.

Revenue in the second quarter jumped nearly eight times to $211 million, thanks to a strong performance from its shipyard operations.
- CNA /ls
Cosco Corp Website

wow.. this is probably going to be the top10 active counter tomorrow.

----

ok, Cosco Corp did not get into the top volume today. shot myself in the foot, by predicting that. Confused
But out of the top 20 gainers today, 3 belongs to Cosco's Warrants. Cosco close $2.47, up 3c. Intraday High of $2.52.

k4korny SG

A Tale of 2 Telcos..

Starhub 2Q05 profit up, announces first dividend payout
Starhub Investor Relation (IR)
CNA Report

SingTel's 1Q05 profit up 14% to $796m
SingTel IR
CNA Report

Starhub is seen as capturing a bigger portion of the SG market from Singtel with a 25% increase in consumer base, to 31.5% of mkt share. Though Singtel has posted double digit growth, the mkt wasn't impressed with it's lower profit margins, and the smaller mkt share in SG and Aust (Optus).

Today (05 Aug), Starhub closed 1.94, 4c higher since announcement of results; while singtel fell from 2.62 (on Wed) to close at 2.48.