The following stocks may be in focus today:
Noble Group is set to clinch about US$3 billion ($4.1 billion) in bank credit facilities, sources close to the matter said, but it will have to offer the highest interest rate it has ever paid as lenders are wary after its ratings downgrades to junk status. Obtaining the credit facilities will allow Noble, Asia's biggest commodity trader, to vault the last refinancing hurdle it faces this year and help regain investor confidence following a US$1.2 billion write-down that pushed it last year into its first annual net loss since 1998.
Earnings of SIA Engineering Company, which does aircraft maintenance, repair, and overhaul (MRO), for the FY16 ended March fell 3.7% to $176.6 million amid a “challenging” operating environment for the industry. Revenue for FY16 fell to $1.11 billion, down 0.7% from $1.12 billion in FY15. 4Q16 revenue improved to $294.2 million, up 6.6% from 4Q15.
Agribusiness group Wilmar International recorded a 3.2% rise in 1Q earnings to US$239.4 million ($327.7 million) from US$232.0 million a year ago. The stronger bottomline was supported by the steady performance from Tropical Oils and Oilseeds & Grains and an improved showing from Sugar. Revenue declined 4.3% to US$9.0 billion due to lower commodity prices.
Vicom’s 1Q16 earnings dropped 13.2% to $7.3 million, driven down by lower business volumes for its motor vehicle inspection services. Revenue fell by 10.4% to $25.4 million, compared to $28.3 million in the corresponding 1Q15 last year.
Singapore Post’s 4Q earnings trebled to $105.4 million, boosted by one-off divestment gains. Excluding the one-off items, earnings would have declined 20.1% to $31.8 million. In 4Q, SingPost recorded a $75 million in miscellaneous income. This included one-off gains from partial disposal of an associated company and disposals of subsidiaries. Revenue in 4Q grew 27.7% to $317.6 million from a year ago. Revenue for mail segment increased 3.3%, driven by higher international mail revenue, which was a result of increased cross-border e-commerce-related deliveries.
OUE Commercial REIT posted a 33.3% rise in 1Q16 DPU to 1.32 cents from 0.99 cents a year ago. The REIT delivered gross revenue of $42.9 million in 1Q16, more than doubling the $20.4 million achieved in 1Q15 due to contribution from One Raffles Place which was acquired in October 2015, as well as better performance at OUE Bayfront.
First-quarter earnings for Fraser and Neave fell 54.1% in the absence of profits from discontinued operations. Stripping that out, profit from continuing operations was stronger from a year ago. Net profit for the three months ended March stood at $12 million, down from $26.2 million a year ago on a restated basis. A year ago, it had reported $30.7 million in profit from discontinued operations. Last August, F&N completed the sale of its brewery in Myanmar. Following the sale, the operating results of this brewery were reclassified as discontinued operations.
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Noble Group is set to clinch about US$3 billion ($4.1 billion) in bank credit facilities, sources close to the matter said, but it will have to offer the highest interest rate it has ever paid as lenders are wary after its ratings downgrades to junk status. Obtaining the credit facilities will allow Noble, Asia's biggest commodity trader, to vault the last refinancing hurdle it faces this year and help regain investor confidence following a US$1.2 billion write-down that pushed it last year into its first annual net loss since 1998.
Earnings of SIA Engineering Company, which does aircraft maintenance, repair, and overhaul (MRO), for the FY16 ended March fell 3.7% to $176.6 million amid a “challenging” operating environment for the industry. Revenue for FY16 fell to $1.11 billion, down 0.7% from $1.12 billion in FY15. 4Q16 revenue improved to $294.2 million, up 6.6% from 4Q15.
Agribusiness group Wilmar International recorded a 3.2% rise in 1Q earnings to US$239.4 million ($327.7 million) from US$232.0 million a year ago. The stronger bottomline was supported by the steady performance from Tropical Oils and Oilseeds & Grains and an improved showing from Sugar. Revenue declined 4.3% to US$9.0 billion due to lower commodity prices.
Vicom’s 1Q16 earnings dropped 13.2% to $7.3 million, driven down by lower business volumes for its motor vehicle inspection services. Revenue fell by 10.4% to $25.4 million, compared to $28.3 million in the corresponding 1Q15 last year.
Singapore Post’s 4Q earnings trebled to $105.4 million, boosted by one-off divestment gains. Excluding the one-off items, earnings would have declined 20.1% to $31.8 million. In 4Q, SingPost recorded a $75 million in miscellaneous income. This included one-off gains from partial disposal of an associated company and disposals of subsidiaries. Revenue in 4Q grew 27.7% to $317.6 million from a year ago. Revenue for mail segment increased 3.3%, driven by higher international mail revenue, which was a result of increased cross-border e-commerce-related deliveries.
OUE Commercial REIT posted a 33.3% rise in 1Q16 DPU to 1.32 cents from 0.99 cents a year ago. The REIT delivered gross revenue of $42.9 million in 1Q16, more than doubling the $20.4 million achieved in 1Q15 due to contribution from One Raffles Place which was acquired in October 2015, as well as better performance at OUE Bayfront.
First-quarter earnings for Fraser and Neave fell 54.1% in the absence of profits from discontinued operations. Stripping that out, profit from continuing operations was stronger from a year ago. Net profit for the three months ended March stood at $12 million, down from $26.2 million a year ago on a restated basis. A year ago, it had reported $30.7 million in profit from discontinued operations. Last August, F&N completed the sale of its brewery in Myanmar. Following the sale, the operating results of this brewery were reclassified as discontinued operations.
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