|
UOBKH March 9, 2007
Friday, March 09, 2007
Morning
Share prices advanced for the second time this week, lifted by the prospects of growing sales and earnings at telephone companies, raw-material producers and luxury retailers. The DJIA gained 68.25, or 0.56%, to 12,260.70 while the Nasdaq rose 13.09, or 0.55%, to 2,387.73.
From the media, some brief corporate news:
a) Raffles Investments (RI), which belongs to the Tecity Group run by former Robinson director Chew Gek Khim, has increased its stake in fashion and lifestyle group FJ Benjamin (FJB) from 9.1% to 13.45%. It did so through the conversion of 28.5m FJB warrants, bought in the open market, into 28.5m FJB shares. The move has added $12.82m to FJB's war chest.
b) Techcomp Holdings, which manufactures and sells scientific testing equipment, expects annual revenue to grow 20-25% over the next few years, supported by growing demand in China and India. Based in Hong Kong and listed in Singapore, the company designs and manufactures products that analyse chemical components. In 2006, the firm reported revenue of US$55m, up 23% on 2005.
c) Shares of StarHub rose yesterday on the company抯 plan to pay $444m to shareholders after cancelling about 8.3% of its stock. StarHub, Singapore Telecommunications and MobileOne are returning cash to their shareholders by cancelling stock to improve return on equity as Singapore's phone industry reaches saturation and competition intensifies in the high-speed Internet market.
d) Vietnam's leading dairy maker Vietnam Dairy Products Company (Vinamilk) plans to list 5% of the firm, or more than 8.85m shares, on the Singapore stockmarket this year, becoming the first Vietnamese company to be listed here. Vinamilk is the country's second-largest listed firm, with a market value of around US$2b. Its diary products and beverages have a 75% market share. The company also deals in real estate and provides warehousing and transport services.
e) Sihuan Pharmaceutical Holdings Group plans to raise around US$40m by selling new shares in an initial public offering in Singapore, according to a source. The Chinese drug-maker produces drugs for treating diseases that affect the brain, heart, or blood vessels supplying blood to these organs. The share sale is equivalent to 25.5% of the company, said the source.
|
Communitys
Blogs
Forum
Photos
Videos
Chat
Marketplace
Events
Bookmarks
People
Linear Mode
