Friday, April 29, 2011

Apr 29: Allgreen, Chemoil, DBS, Jardine Cycle

The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.1% to 3,184.99.

Allgreen Properties
(AG SP): The Singapore-based real estate company controlled by Malaysian billionaire Robert Kuok said first-quarter net income increased to $84.5 million from $34.9 million a year ago. Allgreen was unchanged at $1.17.

C&O Pharmaceutical Technology Holdings (COPT SP): The Chinese drugmaker said it’s been appointed the exclusive distributor of Flumarin, an injectable antibiotic, in China by Japanese pharmaceutical company Shionogi & Co. The stock was unchanged at 38 cents.

Chemoil Energy (CHEME SP): The supplier of marine fuels said it expects first-quarter net income will surpass US$20 million ($24.6 million) on increased volumes and improved margins. Chemoil rose 1.5% to 34.5 cents.

DBS Group Holdings (DBS SP), Southeast Asia’s biggest bank, reported first-quarter net income of $807 million, compared with $532 million a year earlier. Analysts had expected profit of $755 million, based on four estimates compiled by Bloomberg. DBS added 0.1% to $14.92.

Jardine Cycle & Carriage (JCNC SP): The automotive distributor said first-quarter underlying profit increased 45% to US$251 million ($308 million) from a year ago. The stock climbed 3% to $37.74.

Total Access Communication Pcl
(DTAC SP): Thailand’s second-biggest mobile-phone company said its first-quarter net income increased to 3.33 billion baht ($136.7 million) from 2.44 billion baht a year ago. Its shares lost 1.2% to US$1.64 ($2.01).

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