Goodland Group

Goodland Group: Entered MOU to acquire up to 75% equity in UPL Lao, as part of its strategic business expansion plan in the Indochina market. UPL Lao is in the property development business in Vientiane, Laos and owns one of the largest integrated township developments.

Sinarmas Land

Sinarmas Land: 4Q13 net profit climbed 3% y/y to $64.4m, while revenue accelerated 11% to $202.3m, taking FY13 earnings to $252.5m (+124%) and revenue to $985m (+56%), mainly contributed by higher sales of land parcels in BSD City, higher revenue from sales of completed residential units in BSD City and Shenyang, China and improved average selling prices, mitigated by the weaker Rupiah/SGD. Consequently, gross profit margin improved significantly from 58.6% to 70.2%. Group declared first and final DPS of 0.5¢, compared to FY12's 0.38¢.

JES

JES: 4Q13 net loss widened y/y to Rmb182.3m (+8%) from liquidated and ascertained damages charged for actual and potential delayed vessel deliveries (Rmb42.7m), FX loss (Rmb2.4m) and losses impaired from ongoing contracts (Rmb36m), partially mitigated from a gain from disposal of scrap materials. Revenue crashed 83% to Rmb50.9m, mainly due to a slow-down in production, lower contract prices for vessels and a reversal due to contract cancellation. Separately, JES secured US$240m in new shipbuilding contracts to construct four Newcastlemax and a post-panamax bulk carrier from European customers, with delivery between Jul '15 - Jun'16.

Straits Trading

Straits Trading: 4Q13 net profit turned around y/y to $12.6m from loss of $39.5m, while revenue halved to $154.4m, on a 40% decline in resources segment led by lower sales of refined tin, 83% slump in property revenue on lower sales of development properties and lower rental revenue, partially mitigated by a $91.8m gain on disposal from US Centennial Venture. Group declared interim DPS of 4¢, bringing FY13 DPS to 54¢.

CNA

CNA: FY13 net loss widened to $25.1m (+694%) mainly due to a $32.3m one-time writedown in receivables on its Middle East subsidiary, CNA Integrated Technologies LLC, as well as a $7.4m impairment of contracts work-in-progress and trade receivables from its strategic restructuring of operations in China. Revenue slumped 9% to $71.2m from the economic slowdown.

Hong Fok

Hong Fok: FY13 net profit spiked 361% to $357m mainly on a $323.6m revaluation gain of the car park block at International Building. Bottomline was also boosted by compensation income ($2m) and gain from change in interests in associates ($8.9m), mitigated by lower contributions from associates (-71%). Revenue grew 46% to $227.6m from progressive recognition of Concourse Skyline. Group declared first and final DPS of 1.5¢, more than double of FY12's 0.6¢.

Global Palm Resources

Global Palm Resources: 4Q13 net loss narrowed to Rp13.2b from Rp83.4b, taking FY13 net profit to Rp11.5b versus a net loss of Rp37.5b. 4Q13 revenue rose 71% to Rp119.4b led by higher revenue from of both CPO (+73%) and Palm Kernels (PK) (+49%). Effectively, CPO sales volume was up 25% to 13,521 tons and PK sales volume was up 1% to 2,983 tons while average selling prices (ASPs) for CPO was up 38% and PK up 38%). Bottom-line was weighed by a Rp32.6b (-72%) loss from changes in fairvalue of biological assets and a 41% rise n admin expenses to Rp11.8b. The group is proposing a first and final dividend of 0.4c per share.