Saturday, December 12, 2009

Singapore Stock Summary - 11 Dec 09

STI (UPDATE) STI closed up 18.89 points to 2,800.75 on a volume of 1.2billion with a value of S$1.16 billion. Gainers led losers 239 to 220.

Stamford Tyres Corporation Limited (UPDATE) The company reported revenues for the first six months of the current fiscal year (1H2010) was $145.7 million, which was lower by 11.5% when compared to 1H2009. Gross profit was S$30.2 million compared to S$38.8 million a year earlier. Gross profit margin was 20.7% compared to 23.6% the year before. It returned a net profit of S$2.9 million for 1H2010, compared to S$1.0 million for the same period a year ago.

Achieva Limited (UPDATE) The company announced that it had received notification that Mr Henry Lim Yong Choon, a controlling shareholder of the Company, has sold his entire shareholding of 121,478,009 ordinary shares, representing approximately 23.36% of the issued ordinary shares in the capital of the Company at a price of S$0.125 per share, in a married deal. The buyer is SUTL Global Pte. Ltd. (“SUTL”). Achieva Limited is a IT distributor and solutions provider in digital and lifestyle products.

Keppel Corp (MAINTAIN OUTPERFORM) CIMB maintained its Outperform rating on Keppel Corp with a target price of S$10.80 after it managed to clinch three more contracts worth S$160m. They remained positive over wider opportunities and the recovering economy.

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