MARKET UPDATES :
- Kalpa PROPERTY and hotel group UOL has posted net profit attributable to shareholders of S$211.72 million for the second quarter ended June 30 – a 51 per cent drop from the nearly S$431.40 million net earnings in the same period last year.
- STATS ChipPAC on Friday narrowed its net loss for its second quarter, in the absence of a one-off item booked a year ago.Net loss for the three months ended June 29 stood at US$4.18 million, compared to a net loss of US$52.2 million a year ago.
- [SINGAPORE] The earnings story is still largely at play this week:Offshore marine player Nam Cheong said its net profit for the second quarter ended June 30 surged 55 per cent to 63.3 million Malaysian ringgit on the back of strong vessel orders. Its revenue leapt 38 per cent to RM378.8 million. Year-to-date, Nam Cheong has achieved strong orders for 13 vessels worth about US$290 million.
- LOYZ Energy said on Friday morning that it has entered into a subscription agreement with Oversea-Chinese Banking Corporation (OCBC) under which it will issue 22.22 million free and detachable warrants in two tranches to the bank.
STOCK RECOMMENDATION :
- BUY UNITED OVERSEAS BANK ABOVE 22.800 TG 23.000,23.400 SL 22.500