Stocks In Focus SG (Del Monte Pacific, Nam Cheong, WE Hldgs) – 11/03/15
Related stocks: SGX:D03, SGX:N4E, SGX:5RJ
Del Monte Pacific reported revenue of US$637.6 million for the third quarter ended 31 December 2014, with US$511 million of sales generated by Del Monte Foods (DMF), which was acquired in February 2014. However, the group remained in the red with net loss of US$2.2 million in the quarter, underpinned by higher interest expenses related to DMF’s acquisition as well as increased distribution, selling, general and administrative expenses. For the nine-month period, turnover of US$1.6 billion and net loss of US$23.9 million was recorded.
Nam Cheong has won contracts for two vessels – a 200-men accommodation work vessel and a 12,000 brake horsepower anchor handling towing supply vessel – worth US$58 million. The new contracts raises the firm’s order book to approximately RM1.7 billion and are expected to contribute positively to its FY15 and FY16 results.
WE Holdings has entered into a non-binding memorandum of understanding to acquire the entire stake in Singapore Hua Kai Engineering Co, a firm primarily engaged in the trading of sand, dredging and the supply of processed sand, for $25 million. The group believes the proposed acquisition will provide it with a ready entry into the land reclamation business, which it anticipates will have an increased demand. The consideration will be paid in $8 million cash and $2 million worth of the firm’s shares, with the remaining $15 million paid over a three-year period subjected Hua Kai attaining certain net profit targets.
http://www.sharesinv.com
Related stocks: SGX:D03, SGX:N4E, SGX:5RJ
Del Monte Pacific reported revenue of US$637.6 million for the third quarter ended 31 December 2014, with US$511 million of sales generated by Del Monte Foods (DMF), which was acquired in February 2014. However, the group remained in the red with net loss of US$2.2 million in the quarter, underpinned by higher interest expenses related to DMF’s acquisition as well as increased distribution, selling, general and administrative expenses. For the nine-month period, turnover of US$1.6 billion and net loss of US$23.9 million was recorded.
Nam Cheong has won contracts for two vessels – a 200-men accommodation work vessel and a 12,000 brake horsepower anchor handling towing supply vessel – worth US$58 million. The new contracts raises the firm’s order book to approximately RM1.7 billion and are expected to contribute positively to its FY15 and FY16 results.
WE Holdings has entered into a non-binding memorandum of understanding to acquire the entire stake in Singapore Hua Kai Engineering Co, a firm primarily engaged in the trading of sand, dredging and the supply of processed sand, for $25 million. The group believes the proposed acquisition will provide it with a ready entry into the land reclamation business, which it anticipates will have an increased demand. The consideration will be paid in $8 million cash and $2 million worth of the firm’s shares, with the remaining $15 million paid over a three-year period subjected Hua Kai attaining certain net profit targets.
http://www.sharesinv.com
