DJ MARKET TALK: Sembcorp Likely To Rise; 2Q12 Net Profit +9% 

0050 GMT [Dow Jones] Sembcorp Industries (U96.SG) is likely to rise amid expected broader market strength and after it reports 2Q12 net profit rose 9% on year to S$190.7 million on strong performances in its energy and water utilities businesses. It was a "good set of results," Maybank-Kim Eng says, noting 1H12 net profit was 45% of its previous FY12 forecasts, which it adjusted slightly to lower Marine segment figures and raise Utilities segment forecasts. Utilities contributed 56% and 53% of 1H12 revenue and net profit respectively, it notes. The house expects 2H12 to be slightly stronger; "with several projects in the execution pipeline, we see a growing recurring revenue base for SCI. The company also aims to build a sizable renewable energy portfolio." It keeps a Buy call on the Marine and Utilities segments' positive outlook and raises its target price to S$6.40 from S$6.20 after increasing its FY12 net profit estimate for Utilities by 13%. The stock ended Friday up 0.2% at S$5.29; the July peak at S$5.50 likely offers a near-term cap
 
*DJ DBS Group Target Raised To S$13.10 From S$12.10 By Maybank-Kim Eng
 

Our pivot point is at 50.2.

Our preference: as long as 50.2 is support look for 57.6.

Alternative scenario: the downside breakout of 50.2 would call for 47.9 and 46.5.

Comment: the RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 52.22 and 50.24). Jardine Matheson is currently trading near its 52 week high reached at 55.6 on 31/08/11.

Supports and resistances:
59 *
57.6 **
56.2
53.4 last
51.1
50.2 **
47.9 *

 

Singapore

Wired Daily

Page 2

ChinaVision Media Group is expected to record a profit

for 1H12 as compared with a loss for 1H11, primarily

attributable to significant improvement in the financial

performance of the Group’s media related businesses

resulted from, in particular, the substantial increase in the

turnover and gross profit from the television and film

business and gain from the disposal of an associate and

an intangible asset.

China Haida’s 1H12 net financial results are expected to

be affected due to lower sales and in particular, lower

gross profit margin attributed to the lower selling prices

of aluminium panels in the highly competitive markets.

China Great Land Holdings is expected to record a

significant loss for HY2012 as a result of: (a) continued

slowdown in Hainan construction market in the first year

of 2012, leading to low margins for the Group’s products

and construction contracts; (b) persistently high costs of

production, attributed mainly to high fuel costs, raw

material prices and increasing of direct labour costs; and

(c) high cost of financing.

EMS Energy expects to report a loss for 1H2012 as a

result of lower sales revenue, increase in logistics costs,

costs incurred on extra work sites and subcontractor costs

due to limitations of its space at its EMS Energy Solutions

business segment resulting in lower overall gross profits.

Sinotel Technologies is expected to record a net loss for

2Q12 and the net profit for 1H12 is expected to be

substantially lower than that of the corresponding period

last year. This is mainly due to the increase in the

subcontractor costs and the costs incurred in facilitating

the initial certification of the completion for the projects.

Global air traffic demand continued to slow amid

weakness in business and consumer confidence. The

latest data released by the International Air Transport

Association (Iata) shows that demand for air travel in June

expanded by 6.2% y-o-y. Capacity grew by a much more

cautious 4.5%, leaving load factors at 81%. Iata added

that while this appears to be a healthy growth rate, the

growth trend since early 2012 has seen a slowdown.

China’s non-manufacturing industries expanded at a

slower pace in July as new orders and outlooks for future

business slipped. The Purchasing Managers' Index (PMI)

fell to 55.6 from 56.7 in June. The report showed the

slowdown in China's exports and industrial production

may be spreading to services, which would add pressure

on Premier Wen Jiabao to introduce more measures to

stem the slide.

Share Buy-Back

SGX Masnet

Company D.O.T. Buy/Sell No.of shares S$/shr

Overseas-Chinese Banking Corp 03-Aug-12 Share Buy-Back 100,000 9.4000

Second Chance Properties Ltd 03-Aug-12 Share Buy-Back 3,512,000 0.3770

Overseas-Chinese Banking Corp 02-Aug-12 Share Buy-Back 200,000 9.5100

Ho Bee Investment Limited 30-Jul-12 Share Buy-Back 400,000 1.2200

Ho Bee Investment Limited 27-Jul-12 Share Buy-Back 300,000 1.2167

Ho Bee Investment Limited 26-Jul-12 Share Buy-Back 394,000 1.2150

AEM Holdings Ltd 25-Jul-12 Share Buy-Back 2,500,000 0.0850

HG Metal Manufacturing Ltd 25-Jul-12 Share Buy-Back 20,000 0.0820

Ho Bee Investment Limited 25-Jul-12 Share Buy-Back 426,000 1.2138

Ho Bee Investment Limited 24-Jul-12 Share Buy-Back 563,000 1.2094

San Teh Limited 24-Jul-12 Share Buy-Back 242,000 0.2900

CNA Group Ltd 23-Jul-12 Share Buy-Back 25,000 0.1076

HG Metal Manufacturing Ltd 23-Jul-12 Share Buy-Back 1,071,000 0.0829

Ho Bee Investment Limited 23-Jul-12 Share Buy-Back 450,000 1.2094

Singapore

Wired Daily

Page 3

Substantial Shareholders’ Transactions: 26 July – 2 Aug 2012

*Deemed Interest

Source: Business Times; SA: Share Allotment; ST: Share Transfer, B/R: Bonus/Rights Issue; OE: Option Exercise; PL: Placement Shares

Stock Transacted Date Substantial Shareholder/ Director

Buy/Sell/

Conv

No of

Shares

('000)

Price Per

Share $

%Issued Cap

Before

Change

%Issued Cap

After Change

Grand Banls Yachts 02-Aug-12 Shinetown Ltd Sell 447 na 7.53 7.07

M Dev 01-Aug-12 Value Capital Asset Mgt Sell 16958 na 6.98 4.58

Stats Chippac 01-Aug-12 Marathom Asset Mgt LLP Sell 1549 na 6.08 5.99

Popular Hldgs 31-Jul-12 Chou Cheng Ngok * Buy 100 0.23 56.92 56.93

Popular Hldgs 31-Jul-12 World Holdings Buy 100 na 56.92 56.93

Popular Hldgs 30-Jul-12 Chou Cheng Ngok * Buy 500 0.23 56.86 56.92

Popular Hldgs 30-Jul-12 World Holdings Buy 500 na 56.86 56.92

Petra Foods 30-Jul-12 Aberdeen Asset Mgt PLC & Subsidiaries * Buy 2369 na 5.86 6.25

Petra Foods 30-Jul-12 Aberdeen Asset Mgt Asia * Buy 2369 na 5.86 6.25

ComfortDelgro 30-Jul-12 The PNC Financial Ser. Grp * Buy 71 1.64 4.99 5

ComfortDelgro 30-Jul-12 Blackrock Inc * Buy 71 1.64 4.99 5

Popular Hldgs 27-Jul-12 Chou Cheng Ngok * Buy 141 0.22 56.84 56.86

Popular Hldgs 27-Jul-12 World Hldgs Buy 141 na 56.84 56.86

San Teh 27-Jul-12 Poh Choo Bin Buy 100 na 6.74 6.76

M Dev 27-Jul-12 Value Capital Asset Mgt Sell 18101 na 9.54 6.98

Addvalue Technologies 26-Jul-12 Merida Resources Incorp Sell 500 na 5.01 4.96

Keppel Corporation 26-Jul-12 Blackrock Inc * Buy 602 10.95 4.98 5.02

Popular Hldgs 26-Jul-12 World Hldgs Buy 540 na 56.78 56.84

Keppel Corporation 26-Jul-12 PNC Financial Servces Grp Buy 602 10.95 4.98 5.02

C&G Env Protect 26-Jul-12 C&G Hldgs (HK) Ltd Buy 18000 na 76.02 77.87

C&G Env Protect 26-Jul-12 Lam Chik Tsan * Buy 18000 na 76.02 77.87

C&G Env Protect 26-Jul-12 Lin Yan * Buy 18000 0.12 76.02 77.87

Singapore

Wired Daily

Page 4

Announced Dividends and Capital Issues: 6 Aug 2012 – 22 Nov 2012 (by Ex-Date)

Company Ty pe Part iculars Ex Date

Paid/

Pay able

OLD CHANG KEE LTD. DIVIDEND SGD 0.015 ONE-TIER TAX 06-Aug-12 27-Aug-12

SINGTEL DIVIDEND SGD 0.09 ONE-TIER TAX 06-Aug-12 24-Aug-12

WILLAS-ARRAY ELEC (HLDGS) LTD DIVIDEND HKD 0.06088 06-Aug-12 21-Aug-12

WILLAS-ARRAY ELEC (HLDGS) LTD DIVIDEND HKD 0.01826 06-Aug-12 21-Aug-12

ZAGRO ASIA LIMITED OFFER OFFER OF 32 FOR 100 @ SGD 0.15 06-Aug-12

HIAP SENG ENGINEERING LTD DIVIDEND SGD 0.005 ONE-TIER TAX 07-Aug-12 28-Aug-12

POWERMATIC DATA SYSTEMS LTD DIVIDEND SGD 0.01 ONE-TIER TAX 07-Aug-12 27-Aug-12

ROYAL DUTCH SHELL A ADR 10 DIVIDEND USD 0.731 07-Aug-12 20-Sep-12

SHENG SIONG GROUP LTD DIVIDEND SGD 0.01 ONE-TIER TAX 07-Aug-12 22-Aug-12

ERATAT LIFESTYLE LIMITED DIVIDEND CNY 0.025 ONE-TIER TAX 08-Aug-12 24-Aug-12

FABCHEM CHINA LIMITED DIVIDEND SGD 0.01 ONE-TIER TAX 08-Aug-12 28-Aug-12

GP BATTERIES INT LTD DIVIDEND SGD 0.015 ONE-TIER TAX 08-Aug-12 28-Aug-12

OVERSEA-CHINESE BANKING CORP DIVIDEND SGD 0.16 ONE-TIER TAX 08-Aug-12 27-Aug-12

PARKWAYLIFE REIT DIVIDEND 010412 - 300612 SGD 0.019 LESS TAX 08-Aug-12 06-Sep-12

PARKWAYLIFE REIT DIVIDEND 010412 - 300612 SGD 0.0043 08-Aug-12 06-Sep-12

PARKWAYLIFE REIT DIVIDEND 010412 - 300612 SGD 0.0015 TAX EXEMPT 08-Aug-12 06-Sep-12

JARDINE CYCLE & CARRIAGE LTD DIVIDEND USD 0.18 ONE-TIER TAX 10-Aug-12 24-Sep-12

FISCHER TECH LTD DIVIDEND SGD 0.006 ONE-TIER TAX 13-Aug-12 30-Aug-12

METAL COMPONENT ENGG LTD RIGHTS 1RS1W FOR 1SH OFFER OF 1 FOR 1 @ SGD 0.01 13-Aug-12

RAFFLES MEDICAL GROUP LTD DIVIDEND SGD 0.01 ONE-TIER TAX 13-Aug-12 31-Aug-12

SINGAPORE POST LIMITED DIVIDEND SGD 0.0125 ONE-TIER TAX 14-Aug-12 31-Aug-12

SOUP RESTAURANT GROUP LIMITED DIVIDEND SGD 0.0035 ONE-TIER TAX 14-Aug-12 31-Aug-12

DAIRY FARM INT'L HOLDINGS LTD DIVIDEND USD 0.065 15-Aug-12 10-Oct-12

HONGKONG LAND HOLDINGS LIMITED DIVIDEND USD 0.06 15-Aug-12 10-Oct-12

HSBC ADR 10 DIVIDEND USD 0.45 15-Aug-12 04-Oct-12

JARDINE MATHESON HLDGS LTD DIVIDEND SCRIP OPTION USD 0.35 15-Aug-12 10-Oct-12

JARDINE STRATEGIC HLDGS LTD DIVIDEND SCRIP OPTION USD 0.07 15-Aug-12 10-Oct-12

MANDARIN ORIENTAL INTL LTD DIVIDEND USD 0.02 15-Aug-12 10-Oct-12

SWING MEDIA TECHNOLOGY GRP LTD DIVIDEND SCRIPDIVSCHEME SGD 0.002 15-Aug-12 05-Oct-12

ELEC & ELTEK INT CO LTD DIVIDEND USD 0.09 ONE-TIER TAX 17-Aug-12 06-Sep-12

TRANSIT-MIXED CONCRETE LTD DIVIDEND SGD 0.01 ONE-TIER TAX 17-Aug-12 07-Sep-12

GREAT EASTERN HLDGS LTD DIV IDEND SGD 0.1 ONE-TIER TAX 21-Aug-12 05-Sep-12

CSC HOLDINGS LTD DIVIDEND SGD 0.0009 ONE-TIER TAX 23-Aug-12 07-Sep-12

NY01100F 160901 INTEREST 0.0375 23-Aug-12 03-Sep-12

NY03100A 180901 INTEREST 0.04 23-Aug-12 03-Sep-12

NY05100N 200901 INTEREST 0.0325 23-Aug-12 03-Sep-12

NY07100X 220901 INTEREST 0.03125 23-Aug-12 03-Sep-12

NY09100H 240901 INTEREST 0.03 23-Aug-12 03-Sep-12

NZ07100S 270301 INTEREST 0.035 23-Aug-12 03-Sep-12

NZ10100F 300901 INTEREST 0.02875 23-Aug-12 03-Sep-12

CAPITAMALLS ASIA LIMITED DIVIDEND SGD 0.01625 ONE-TIER TAX 29-Aug-12 13-Sep-12

OSIM INTERNATIONAL LTD DIVIDEND SGD 0.01 ONE-TIER TAX 29-Aug-12 12-Sep-12

OSIM INTERNATIONAL LTD DIVIDEND SGD 0.01 ONE-TIER TAX 29-Aug-12 12-Sep-12

SAKARI RESOURCES LIMITED DIVIDEND USD 0.02 TAX EXEMPT 30-Aug-12 13-Sep-12

CAPITARETAIL CHINA TRUST DIVIDEND 010112 - 300612 SGD 0.0482 05-Sep-12 26-Sep-12

POPULAR HOLDINGS LIMITED DIVIDEND SGD 0.008 ONE-TIER TAX 07-Sep-12 26-Sep-12

NOVO GROUP LTD. DIVIDEND SGD 0.01 ONE-TIER TAX 10-Sep-12 04-Oct-12

FRAGRANCE GROUP LIMITED BONUS OFFER OF 1 FOR 1 14-Sep-12

TOTAL ADR 10 DIVIDEND APPROXIMATE USD 0.587795 19-Sep-12 18-Oct-12

GP INDUSTRIES LIMITED DIVIDEND SGD 0.015 ONE-TIER TAX 20-Sep-12 04-Oct-12

N507101E 121001 INTEREST 0.025 20-Sep-12 01-Oct-12

N507101E 121001 ENTITL. REDEMPTION 100% 20-Sep-12 01-Oct-12

N508100V 130401 INTEREST 0.01625 20-Sep-12 01-Oct-12

N509100N 141001 INTEREST 0.01375 20-Sep-12 01-Oct-12

N511100W 160401 INTEREST 0.01125 20-Sep-12 01-Oct-12

N710100Z 170401 INTEREST 0.02375 20-Sep-12 01-Oct-12

NA12100N 420401 INTEREST 0.0275 20-Sep-12 01-Oct-12

SINGAPORE EXCHANGE LIMITED DIV IDEND SGD 0.15 TAX EXEMPT 26-Sep-12 12-Oct-12

LIAN BENG GROUP LTD DIVIDEND SGD 0.01 ONE-TIER TAX 03-Oct-12 19-Oct-12

LIAN BENG GROUP LTD DIVIDEND SGD 0.01 ONE-TIER TAX 03-Oct-12 19-Oct-12

K1 VENTURES LIMITED DIVIDEND SGD 0.005 ONE-TIER TAX 31-Oct-12 14-Nov-12

NX09100W 190601 INTEREST 0.025 22-Nov-12 03-Dec-12

NX11100X 210601 INTEREST 0.0225 22-Nov-12 03-Dec-12

Source: SGX