- Cautious trading expected ahead of a busy week packed with corporate earnings, commencing with Keppel DC REIT and Keppel Infra Trust today.
- Technically, STI remains bounded within its 3,190-3,275 trading range.
- Secured two contracts worth over $20m in China.
- Group will provide incineration technology and services for the Beijing Fangshan District Circular Economy Industrial Park Waste-to-Energy (WTE) plant, and the Hunan Yueyang Municipal WTE plant, with a total incineration capacity of 2,220 TPD.
- Both plants are scheduled to be operational by 2019.
- Positive 2Q17 profit guidance.
- Group expects higher net profit from better-than-expected sales.
- Awarded contracts worth Rmb116.3m by Hengli Petrochemical (Dalian) and SINOPEC Engineering.
- Scope includes the supply of towers and other equipment for the refinery and chemical integration project of Hengli and the supply of spiral wound heat exchangers for the methanol-to-olefins facility of SINOPEC.
- Contracts are expected for delivery in 2018 and 2019.
- 55% owned JV Fico Pan United Concrete signed a MoU with Bimibo and Su Tu Bien in Ho Chi Minh, Vietnam.
- The two Vietnamese firms will supply VSI stones and manufactured sand to the JVCo, for production of ready-mixed concrete.
- Divesting its freehold property at 59 Goulburn Street, Sydney, Australia to Fortius Funds Management for A$158m.
- 3QFY17 net profit plunged 45.2% to $28.9m, due to a $37.8m impairment charge primarily arising from the magazine business.
- 9M17 earnings of $128.1m (-31.9%) met just 53% of street FY17 estimate.
- For the quarter, revenue deteriorated to $259.9m (-10.8%) from a sharp drop in contribution from advertisement (-18.7%) and circulation (-10.6%), which led to a collapse in operating margin to 13.2% (-7.6ppt).
- 70:30 JV with Anchorage View (AV) to acquire a hotel operation and freehold property in West London for £39.4m.
- AV is owned by Managing Director Ong Beng Seng and Non-Executive Director David Fu Kuo Chen.
- The target group owns the 189-room Hilton Doubletree hotel located at 2-8 Hanger Lane, Ealing in London.
- Granted a UK patent for self-cleaning apparatus for the prevention of marine growth.
- Acquired an additional 20% stake in Bluesky Parramatta for A$3.2m, after the government approved the latter's application to increase the plot ratio for a land owned by Bluesky to 8:1 from 4:1.
- Upon completion, CWG will own 95.8% of Bluesky.