With investors keeping a watchful eye over the Singapore Budget 2013 speech delivered at 3:30pm today, the Straits Times Index (SGX: ^STI) ended the trading session flat at 3289 points. However, there were still some blue chip companies that broke the mould by ending the day in the green.
International property and hotel conglomerate City Development Ltd (SGX: C09) saw its shares gain 1.07% to $11.35. Subsidiaries of the company, Millenium & Copthorne Hotels New Zealand Limited (NZSE: MCK) and Millenium & Copthorne Hotels (LSE: MLC) both reported full year results on 22 Feb 2013. The former saw its yearly profits before tax increase by 78% while the latter suffered a decline of 11.4%. City Development had earlier announced that it won a bid for a parcel of land at Commonwealth Avenue for $562.8 million. It owns a 30% stake of this land, in joint venture with Intrepid Investments Pte Ltd and Hong Realty (Private) Limited.
Shares of Genting Singapore PLC (SGX: G13) continued its second day of gains as it rose by 1.93% to $1.59. The casino operator released its full year results on 21 Feb 2013 and its shares have gained almost 6% since. Yearly revenue increased by 1% to $792m. Even though profits fell by 50% to $133.2m, the company’s earnings per share of $0.06 managed to beat analysts’ estimates by 1.8%.
Holding company Jardine Strategic Holdings (SGX: J37) rounds up the trio as its shares climbed 1.08% to end the day at $38.50. The company’s half-yearly revenue increased by 10% compared to the corresponding period last year. It declared and paid out interim dividends of 7.00 US cents per share. The company also counts fellow blue-chip Jardine Matheson Holdings (SGX: J36) among its many share-holdings.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Contributor Chong Ser Jing doesn’t own shares in any companies mentioned.