Inphyy Corner

Cosco - THIRD QUARTER RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

info.sgx.com/webcoranncatth.nsf/VwAttach...2013.pdf?openelement

info.sgx.com/webcoranncatth.nsf/VwAttach...ease.pdf?openelement

Cosco Corp's 3Q net profit falls 61%

Written by Reuters
Tuesday, 05 November 2013 19:10

Cosco Corp (Singapore) said its third quarter net profit fell 61% to $16.4 million from the same period a year earlier due to lower contributions from dry-bulk shipping and shipyard operations.

Net profit attributable to equity holders of the company fell 84.1% on the year to $4.2 million in the third quarter.

Cosco Corp, a subsidiary of China's state-owned maritime conglomerate, China Ocean Shipping (Group) Co, said its profit for the first nine months of the year dropped 68% to $26 million.

The company's order-book stood at $7.2 billion at the end of September, up from $6.7 billion three months earlier.

Cosco Corp shares closed at $0.79, down nearly 12% so far this year, compared with a 1% gain in Singapore's benchmark Straits Times Index.

Sembcorp Marine's 3Q net profit rises 12.3% on year

Written by Reuters
Tuesday, 05 November 2013 19:08

Singapore's Sembcorp Marine said on Tuesday its net profit for the third quarter of the year grew 12.3% to $130 million due in part to foreign exchange gain.

Sembcorp Marine and its crosstown rival Keppel Corporation are the world's largest offshore drilling rig builders, but both have come under pressure in recent years from yards in China and South Korea.

Sembcorp Marine, in a statement, said its order book stood at $13.5 billion at the end of the July-September quarter, up from $12.7 billion at the close of the previous quarter.

Demand for high specification and ultra-deepwater rigs with advanced technical features is likely to remain high, and long-term industry fundamentals are supported by exploration activity in harsh environments and by field development programmes, the company said.

Oxley - S'pore developer to create new London district

sg.finance.yahoo.com/news/spore-develope...2921198--sector.html

Swiber Holdings - plans to sell Kreuz stake for US$206m

www.businesstimes.com.sg/breaking-news/s...take-us206m-20131105

SGX - SGX faces delicate balancing task

business.asiaone.com/news/news/sgx-faces...icate-balancing-task