Swiber: SEA9's Proposed Offer Of S$256.2 Million For Entire 57.5% Equity Stake In Kreuz.

Proposed acquisition by SEA9 Pte. Ltd., an investment-holding company. Offer of S$0.80 in cash for each share in Kreuz Holdings Limited represents an attractive premium of approximately 78.4% over Kreuz's NAV per share. Swiber expected to record a net gain of approximately US$90.6 million. Proposed disposal of entire equity stake in Kreuz subject to Shareholders' approval...

Kreuz: Proposed Acquisition By SEA9 At S$0.80 Per Share Worth S$445.6 Million.

The Transaction involves a proposed scheme of arrangement under the Companies Act, Chapter 50 of Singapore, and in accordance with the Singapore Code on Take-overs and Mergers. Under the Scheme, all issued and paid-up ordinary shares in Kreuz Holdings Limited held by the shareholders as at a books closure date to be announced by Kreuz will be transferred to SEA9 Pte. Ltd.. Each Kreuz Share will be acquired by SEA9 at a cash consideration of S$0.80 per share, valuing Kreuz at S$445.6 million...

 

Sembcorp Marine: 3Q13 Net Profit Up 12.3% To S$129.7 Million.

Sembcorp Marine achieved a 3Q 2013 net profit of $130 million, 12% higher as compared with $116 million earned in the corresponding period in 2012. Third quarter Group operating profit grew 32%, or $41 million from $126 million in 3Q 2012 to $167 million in 3Q 2013. At pre-tax level, Group profit at $171 million was 23% higher as compared with $139 million for the same period in 2012...

 

VARD: Secures New Contract For A Survey Vessel For Circle Maritime Invest JSC Worth NOK 55 Million.

Vard Holdings Limited has signed a new contract for the construction of a survey vessel for Circle Maritime Invest JSC. The value is approximately NOK 55 million. The vessel, to be built at Vard Braila shipyard in Romania, will be delivered in 3Q 2014. Over the past few years, Vard Braila has delivered five icebreaking tugs to CMI. The new vessel, a survey vessel, is especially equipped for survey operations in the Caspian Sea...

COSCO: 3Q13 Net Profit Down 84% To S$4.2 Million.

Q3 2013 group turnover rose 5.6% to $989.4m on higher shipyard revenues. Turnover from shipyard operations increased 5.7% to $976.0m backed by growth in revenue from marine engineering projects. Turnover from dry bulk shipping and other businesses held steady at $13.4m level on renewal of short-term charters at relatively similar rates. Gross profit fell 36.4% to $73.2 million mainly due to lower profit contributions from ship building and marine engineering segments on inventory write-down and provisions for expected losses. Net profit attributable to equity holders of the Company declined 84.1% to $4.2m as a result. The Group will continue to focus on improving efficiency and productivity and moving up the value chain...

Mencast: Revenue And Earnings Grew By 26% And 16% Respectively For The Nine Months Ended 30 September 2013.

9M13 revenue increased 26% to $71.2 million, mainly on higher contributions from Offshore and Engineering segment and contribution from the new segment, Energy Services. Gross profit margin of 33% for FY2013 (nine months) remained comparable with that of FY2012 (nine months) of 32%. Components in place to embark on the next growth phase, near term growth catalyst is the new production facility at Penjuru, TOP for the workshop obtained in April 2013...

 

Broadway: 3Q13 Net Profit Up 152% To S$0.7 Million.

YTD September 2013 revenue remains flat at S$466.2m. Focusing on non-HDD division to diversify earnings through semi-conductor and consumer device business segments. Continues to reorganize HDD division and streamline operations while limiting CAPEX to enhance balance sheet...

SATS: 2Q14 Net Profit Down 3.2% To S$48.7 Million.

For the second quarter ended 30 September 2013, SATS Ltd.'s revenue fell 2% year-on-year to $452.1 million. Revenue from gateway services rose 5.1% to $169.8 million while food solutions revenue declined 5.9% to $281 million, mainly due to lower revenue reported by TFK arising from the weaker Japanese Yen. Operating expenditure fell at a slower pace of 1% to $405.5 million. Consequently, operating profit declined 10.6% to $46.6 million. Share of results of associates and JVs, net of tax, increased 13.5% to $11.8 million, led by higher profit contributions from associates in India and Indonesia. Profit attributable to owners of the Company was $48.7 million, 3.2% lower than the corresponding quarter last year...

 

UOB: 3Q13 Net Profit Up 3.3% To S$730 Million.

The UOB Group delivered net earnings of S$2.24 billion for the first nine months of 2013, an increase of 6.1% year-on-year, driven by strong net interest income and a broad-based increase in fee income, coupled with higher associates' profits. For the third quarter of 2013, the Group's net earnings was S$730 million, an increase of 3.3% over the third quarter of 2012...

Luzhou: Expected To Report A Net Loss For 3QFY13.

Luzhou Bio-Chem Technology Limited is expected to report a net loss for 3QFY13...

Delong: Expects To Report A Net Loss For 3Q2013.

Delong Holdings Limited expects to report a net loss for 3Q2013. The anticipated net loss is due to impairment charges on property, plant and equipment in respect of the mill roll production facilities and provision made for doubtful debts provided on trade receivables and prepayments in 3Q2013. The core business activities remained profitable in 3Q2013...