Wired Daily
2QFYMar13 net profit for SIA Engineering is on track with our estimates. A higher interim DPS of
7Scts (up from 6Scts) was declared. Outlook for MRO demand remains fairly stable. Maintain BUY for
resilient earnings and >5% yield, TP is unchanged at S$4.40.
3Q12 results for CDL Hospitality Trust slightly below expectations, caused by a 1% drop in RevPAR
by the Singapore Hotels and the weakening AUD/SGD exchange rate. Revenues could peak in 4Q12 due to
year end peak activities in its banquet and F&B revenues. We believe that opportunities for
further meaningful hikes in RevPAR are unlikely in the coming 2 quarters and will weigh on stock
price performance in the near term. HOLD call maintained with a reduced TP of S$2.01 (Prev S$
2.09). Stock offers a prospective FY12-14F yield of 5.9-6.3%.
Indo Agri Resources reported 3Q12 net profit of Rp257.9 bn (+2% q-o-q and -12% y-o-y). This was
ahead of our expectations of Rp192-210 bn, due mostly to lower-than- expected cost of sales. Our
HOLD and TP are under review, pending further details at the results briefing this morning.
JES International has secured a second newbuild order for a Platform Support Vessel since it
expanded its shipbuilding business into the offshore oil & gas industry. The second contract was
secured from the same customer based in Norway, and is also scheduled for delivery at the end of
FY2014. With the new order, JES now has a total of 2 PSVs in its offshore support vessels order
book.
Share Buy-Back
Company D.O . T .
Buy / Sell No.of shares S$/ shr
Hotung Inv estment Hldgs Ltd 30-Oct-12 Share Buy
-Back 350,000 0.1490
GKE International Limited 29-Oct-12 Share
Buy -Back 605,000 0.1568
United Intl Securities Ltd 29-Oct-12 Share
Buy -Back 10,000 1.1500
CDW Holdings 25-Oct-12
Share Buy -Back 600,000 0.0940
Hotung Inv estment Hldgs Ltd 25-Oct-12 Share Buy
-Back 390,000 0.1495
HG Metal Manufacturing Ltd 25-Oct-12 Share Buy
-Back 1,910,000 0.0805
Engro Corporation Limited 24-Oct-12 Share
Buy -Back 40,000 0.9000 GKE International
Limited 24-Oct-12 Share Buy -Back
829,000 0.1565
HG Metal Manufacturing Ltd 24-Oct-12 Share Buy
-Back 567,000 0.0810
Ov erseas-Chinese Banking Corp 24-Oct-12 Share
Buy -Back 50,000 9.2200 Straco
Corporation Limited 24-Oct-12 Share Buy
-Back 40,000 0.2600