The following stocks may be in focus today:
Singapore Telecommunications' (Singtel's) earnings rose 0.8% to $946 million in the fourth quarter ended March 31, 2016, from $$938.8 million a year ago. Earnings would have risen 4% in constant currency terms, if not for foreign currency movements against the Singapore dollar. Operating revenue, however, slipped 5.6% to $4.09 billion from $4.34 billion, owing to reduced mobile termination rates in Australia and lower handset sales in Singapore. In constant currency terms, top line would have declined 3%. Singtel proposes an unchanged final dividend of 10.7 cents per share.
City Developments (CDL) posted a 14% fall in 1Q16 earnings to $123.9 million, or 11.6 cents per share, from $144 million in 1Q15. This came on the back of a 11.2% fall in revenue to $723.3 million from $814.9 million. Subdued performance from the property development and hotel operations segments were to blame for the weaker top and bottom lines, says CDL. CDL also announced the purchase of its first office building redevelopment property in the UK for £37.4 million ($73.5 million).
United Overseas Bank has launched and priced $750 million in non-cumulative, non-convertible perpetual capital securities. They will bear a fixed distribution rate of 4% per annum. The bonds, which will be issued in the denomination of $250,000, are intended to qualify as additional Tier 1 capital under the Basel III framework adopted by the Monetary Authority of Singapore. The bonds may be redeemed at the option of UOB on May 18, 2021, the first call date, and every five years thereafter to a rate equal to the prevailing five-year SGD Swap Offer Rate plus the initial margin of 2.035%. Distributions are payable semi-annually.
Event services provider Cityneon has sold 40 million shares at 55 cents each to CMC Holdings and other investors, to raise $22 million to support its growth in China. The share placement consists of 20 million new shares and 20 million vendor shares. Cityneon, which is also a subsidiary of the Star Media Group, said the proceeds will boost its subsidiary Victory Hill Exhibitions’ growth and expansion plans in China, which includes launching new immersive attractions in China.
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Singapore Telecommunications' (Singtel's) earnings rose 0.8% to $946 million in the fourth quarter ended March 31, 2016, from $$938.8 million a year ago. Earnings would have risen 4% in constant currency terms, if not for foreign currency movements against the Singapore dollar. Operating revenue, however, slipped 5.6% to $4.09 billion from $4.34 billion, owing to reduced mobile termination rates in Australia and lower handset sales in Singapore. In constant currency terms, top line would have declined 3%. Singtel proposes an unchanged final dividend of 10.7 cents per share.
City Developments (CDL) posted a 14% fall in 1Q16 earnings to $123.9 million, or 11.6 cents per share, from $144 million in 1Q15. This came on the back of a 11.2% fall in revenue to $723.3 million from $814.9 million. Subdued performance from the property development and hotel operations segments were to blame for the weaker top and bottom lines, says CDL. CDL also announced the purchase of its first office building redevelopment property in the UK for £37.4 million ($73.5 million).
United Overseas Bank has launched and priced $750 million in non-cumulative, non-convertible perpetual capital securities. They will bear a fixed distribution rate of 4% per annum. The bonds, which will be issued in the denomination of $250,000, are intended to qualify as additional Tier 1 capital under the Basel III framework adopted by the Monetary Authority of Singapore. The bonds may be redeemed at the option of UOB on May 18, 2021, the first call date, and every five years thereafter to a rate equal to the prevailing five-year SGD Swap Offer Rate plus the initial margin of 2.035%. Distributions are payable semi-annually.
Event services provider Cityneon has sold 40 million shares at 55 cents each to CMC Holdings and other investors, to raise $22 million to support its growth in China. The share placement consists of 20 million new shares and 20 million vendor shares. Cityneon, which is also a subsidiary of the Star Media Group, said the proceeds will boost its subsidiary Victory Hill Exhibitions’ growth and expansion plans in China, which includes launching new immersive attractions in China.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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