The Straits Times Index (SGX: ^STI) closed the day at 3,237, essentially flat from last Friday?s close of 3,236 points.
In a reversal of fortunes, last week?s falling-knife has become today?s market beater. Civmec (SGX: P9D) ended today?s trading session at S$0.77 for a 3.4% gain, reclaiming some of the 11% decline it suffered last week. The company?s based in Australia and provides engineering services to the oil & gas, mining, infrastructure, and utilities industries among others.
Civmec?s profits for the first nine-months of financial year 2013 are 23% higher at S$26.8m compared to the corresponding period in the previous…
The Straits Times Index (SGX: ^STI) closed the day at 3,237, essentially flat from last Friday’s close of 3,236 points.
In a reversal of fortunes, last week’s falling-knife has become today’s market beater. Civmec (SGX: P9D) ended today’s trading session at S$0.77 for a 3.4% gain, reclaiming some of the 11% decline it suffered last week. The company’s based in Australia and provides engineering services to the oil & gas, mining, infrastructure, and utilities industries among others.
Civmec’s profits for the first nine-months of financial year 2013 are 23% higher at S$26.8m compared to the corresponding period in the previous year. With its full year results coming on 21 August, according to Capital IQ, investors can know soon if it had been a good financial year for the company, which got listed in Singapore not too long ago on 23 April 2013.
Jardine Matheson Holdings (SGX: J36) is up 2.1% to US$56.09, making it one of the best shares in the STI today, alongside its corporate cousin, Jardine Strategic Holdings (SGX: J37), which gained 1.6% to US$35.16.
JMH would be releasing its half-yearly results on 2 August this Friday. The company’s a multi-national conglomerate with interests in engineering, construction, transport services, insurance broking, property investment and development just to name a few.
The latest hint of how JMH’s upcoming results-release would fare came from its Interim Management Statement released on 16 May. In it, management said that the company’s “businesses faced mixed trading conditions, although underlying earnings were marginally up on last year.”
SembCorp Industries (SGX: U96) rounds up the trio with its shares climbing 0.4% to S$5.04. The company is pencilled for an earnings release on 6 August 2013. For some earlier news, last month, the utilities and marine engineering company announced that it had started work on the expansion for its Fujairah 1 Independent Water and Power Plant in the UAE
The expansion, which is estimated to cost around US$200m and is expected to be completed in the first half of 2015, is done to increase the total seawater desalination capacity of the plant. The current desalination capacity stands at 100 million imperial gallons per day (MiGD) and the expansion-works would bring that up to 130 MiGD.
The added water output from the plant has already found a buyer in Abu Dhabi Water & Electric Company (ADWEC) and a contract’s been signed for 20 years, in addition to the existing 22-year agreement between ADWEC and the Fujairah 1 plant for its water and electricity production. Such long-tenured contracts would likely provide SembCorp with a stream of reliable revenue.
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