Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on changes – just in case they’re material to our investing thesis.
After clocking gains from Monday to Thursday, the Straits Times Index (SGX: ^STI) has ended the week with a slight dip of 0.1% to 3,350 points. Within the index’s 30 constituents, only 11 shares had managed to make some headway today while 13 others suffered losses.
Let’s take a look at some market-beating shares from both within and outside the index.
Keppel Corporation (SGX: BN4) has edged up by 0.9% to S$11.03. The conglomerate’s latest second quarter results was released just yesterday and the company saw quarterly revenue and profit climb by 5.8% and 6% year-on-year respectively; Keppel Corporation ended the quarter with revenue of S$6.2 billion and profit of S$745 million.
The company’s management commented in the earnings release that “the global economy has performed reasonably well and the markets have reacted favourably thus far.” But, they also stressed that there are risks in small pockets around the world; these include the tension between Ukraine and Russia and the territorial disputes happening currently in the South China Sea between China and a number of other Asian countries.
Integrated engineering, infrastructure, and real estate outfit TEE International (SGX: M1Z) is up 3.8% to S$0.275 following the company’s full-year earnings release on Tuesday. For the financial year ended 31 May 2014, TEE International had posted declines in both its top- and bottom-line. Revenue slipped by 6.3% to S$202.8 million while profit dropped by 59% to S$5.37 million.
In the earnings release, the company had mentioned its subsidiary Interlift Sales Pte Ltd. Oddly enough, TEE International would be selling its entire 55% stake in the subsidiary for S$3.20 million after acquiring it for S$3.12 million only slightly more than a year ago in May 2013. The following are comments made by CK Phua, chief executive of TEE International, on the sale:
“Interlift’s business is promising in the long term, but its business activities does not form a direct synergy with TEE Group’s core competencies. As such, we have decided to sell Interlift and continue our focus to enhance our core businesses instead of ancillary businesses.”
C&G Environmental Protection Holdings (SGX: D79) has climbed 2.2% to S$0.23. The company, which provides water and wastewater treatment services, revealed on Wednesday that it has just inked its first deal worth RMB1 million (around S$200,000) for the sale of its Deep Dewatering Double-membrane Filter Press for Sludge.
The contract seems tiny when compared to the scale of C&G Environmental Protection’s business (the company clocked revenue of RMB434 million in the last 12 months). But, the company commented that “only 20% of sludge is treated by harmless and volume-reducing treatment in mainland China.” This thus gives the company “a buoyant business market prospect.” In addition, the sale of such equipment is expected to “enhance [the company’s] income base.”
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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 writer Chong Ser Jing doesn’t own shares in any companies mentioned.