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Singapore plantation stocks strong on firmer CPO futures. “We think tighter supply/demand fundamentals for vegetable oils, higher crude oil prices and increased fund flows into the commodities space should provide support for higher CPO prices,” says Nomura.
Golden Agri-Resources (E5H.SG) +7.1% at $0.750, Indofood Agri (5JS.SG) +3.3% at $2.82, First Resources (EB5.SG) +3.7% at $1.42, Kencana Agri (F9M.SG) +2.3% at $0.44, Wilmar (F34.SG) +0.3% at $6.71.
Most of these companies yet to report 3Q10 results, guidance, which could take share prices even higher in coming days if performances favourable. Wilmar reports November 10, Golden Agri Nov 11.
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| Palm oil plays firm; Nomura eyes higher CPO prices |
Tags: First Resources | Golden Agri-Resources | Indofood Agri Resources | Kencana Agri |Wilmar | Wilmar International
| WRITTEN BY THE EDGE | |||||
| MONDAY, 08 NOVEMBER 2010 13:17 | |||||
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Futures
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| Olam 1Q net profit likely +34.2% at $25.5m |
Tags: Olam International
| WRITTEN BY DOW JONES & CO, INC | |||||
| TUESDAY, 09 NOVEMBER 2010 10:39 | |||||
Olam International (O32.SG) fiscal 1Q net profit likely +34.2% on-year at $25.5 million, revenue likely +5.8% on-year at $2 billion, according to Dow Jones poll of three analysts. July-September usually seasonally weaker quarter for Olam as harvest of major crops starts in October. Still, earnings likely boosted on organic growth, contribution from previous acquisitions. More keenly eyed: Market awaits outcome of Olam’s discussions with Louis Dreyfus Commodities for possible merger. “We turn cautious on Olam after a strong run on market interest in the possibility of a merger with Louis Dreyfus,” Nomura says in report, terming the earnings as a likely “non-event.” Olam to report 1Q earnings on Nov. 11 after market close. |
| Wilmar International 3Q net profit may drop to $535m |
Tags: Wilmar International
| WRITTEN BY DOW JONES & CO, INC | |||||
| TUESDAY, 09 NOVEMBER 2010 10:26 | |||||
Wilmar International (F34.SG) 3Q net profit likely down sharply to US$416 million ($535 million) vs US$652.9 million ($840 million) last year when profit boosted by US$167 million exceptional gain from a share sale; revenue likely US$6.6 billion vs US$6.3 billion, according to Dow Jones poll of 6 analysts. “We believe Wilmar’s near-term earnings growth is likely to be unexciting, as margins in both refining and crushing, when compared with those of FY09, are likely to be muted. Wilmar’s new plantings have not been able to grow fast, and its market share in consumer pack volume will, at best, remain stable,” Nomura says in note to clients. However, Wilmar one of the best ways to gain exposure to fastest-growing consumption economies, Nomura says; adds, company may also benefit from any surge in food inflation. Wilmar expected to report earnings tomorrow. |
| Wilmar up on Sucrogen buy approval |
Tags: CSR | Sucrogen | Wilmar International
| WRITTEN BY THOMSON REUTERS | |||||
| TUESDAY, 09 NOVEMBER 2010 10:18 | |||||
Shares of Singapore’s Wilmar International <WLIL.SI>, the world’s largest palm oil firm, rose as much as 2.2% in early trade on Tuesday after it said it had received Australian approval to buy Sucrogen. Wilmar said on late on Monday that Australia’s Foreign Investment Review Board has approved its US$1.5 billion ($1.93 billion) purchase of Sucrogen, the world’s second largest exporter of raw sugar and Australia’s top maker of sugar-based ethanol, from CSR <CSR.AX>. At 0205 GMT, Wilmar shares were up 1.6% at $6.84 on a volume of 6.5 million shares. |
BullishTempo ( Date: 10-Nov-2010 08:12) Posted:
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| Noble profit rises 19% as quarterly sales hit record |
Tags: Noble Group
| WRITTEN BY BLOOMBERG | |||||
| TUESDAY, 09 NOVEMBER 2010 18:58 | |||||
Noble Group, the Singapore-based commodity supplier backed by China’s sovereign wealth fund, said third-quarter profit rose 19% as sales reached a quarterly record. Net income rose to US$157.2 million ($201.9 million), or 2.53 cents a share, in the three months ended Sept. 30, from US$132.1 million, or 2.47 cents, a year earlier, the Hong Kong-based company said in a statement to the Singapore stock exchange. Sales for the quarter rose 79% to US$14.94 billion ($19.2 billion), lifting the nine-month revenue by 82% to a record $39.26 billion, it said. Noble, which received almost three quarters of its gross profit last year from energy and agriculture operations, is benefitting as crude oil, corn and soybean prices hover at two-year highs, while cotton is at a record. “Higher revenue levels reflected the impact of a more stable economic environment which returned commodity price levels to more normalized levels,” the company said in a statement to the stock exchange. Noble wants to grow its grain and oilseeds businesses to take advantage of rising global food demand, Chief Executive Officer Ricardo Leiman said Sept. 28. It aims to double annual profit to US$1 billion in three years as consumption of sugar, grains, coal and other resources increases in Asia. MORE GRAINS The agriculture businesses contributed US$3.53 billion in sales for the third quarter, 24% of total revenue and a quarterly record for the business, up from 22% in the same quarter last year, according to the statement. It was boosted by gains in the grains and sugar trade in South America. Noble carried 6.9 million tons of products such as coffee, cocoa, soybeans, sugar and cotton, compared with 4.4 million tons a year earlier, it said. The results came after the market closed. Noble shares were unchanged at US$2.13. The stock is up 1.3% this year, compared with a 14% advance in Singapore’s benchmark Straits Times Index. Noble said Nov. 2 that Executive Chairman Tobias Brown stepped down after three months on the job. The resignation, by “mutual agreement” arose from “the practical realities of running Noble with both an executive chairman and CEO,” it said. China Investment Corp., the nation’s US$300 billion sovereign wealth fund, bought an US$850 million stake in Noble last year. |
| Hu An Cable Holdings posts 30.2% rise in 9M net profit to $26m |
Tags: Hu An Cable Holdings
| WRITTEN BY THE EDGE | |||||
| TUESDAY, 09 NOVEMBER 2010 19:15 | |||||
Mainboard-listed Hu An Cable Holdings, one of the top 10 cable and wire manufacturers in China, has posted a 30.2% surge in net profit to RMB134.1 million ($25.9 million) for the nine months ended 30 September 2010 (9M10) from RMB103.0 million a year ago. Gross profit increased by 39.2% to RMB239.9 million for 9M10 as against RMB172.3 million for 9M09, which was in line with the increases in revenue. Gross profit margin decreased from 18.3% in 9M09 to 14.3% in 9M10. The lower gross margin was primarily due to a change of product mix with increased sales from lower margin product of copper rods. |
| Singapore Air boosts second-half capacity 5% as travel rebounds |
Tags: Cathay Pacific Airways | Nippon Airways | Quantas Airways | Rolls-Royce Group Plc |Singapore Airlines
| WRITTEN BY BLOOMBERG | |||||
| TUESDAY, 09 NOVEMBER 2010 19:06 | |||||
Singapore Airlines., the world’s second-largest carrier by market value, said it would increase capacity 5% in the fiscal second half as business travelers and holidaymakers reserve more flights. “Advance bookings for the coming months indicate that demand is holding up,” the carrier said in the statement today. The airline also reported second-quarter profit of $380 million, surpassing analysts’ estimates. The carrier has added flights to cities including Los Angeles, Tokyo and Seoul as global air travel recovers from the worst drop since World War II. Cathay Pacific Airways has also said it plans to return capacity to pre-crisis level, while Tokyo-based All Nippon Airways Co. is boosting overseas flights 15% in the year ending March. “Singapore Air will continue to benefit from a global recovery and an increase in demand for leisure and business travel in the medium-to-long term,” said Steven Lim, who manages about US$200 million ($256.8 million) at Daiwa SB Investments in Singapore. “The recovery in premium travel is still intact.” The carrier’s capacity in the fiscal first half ended September was little changed from a year earlier. Airlines slashed flights last year as travel plunged during the global recession. |
ARKET PULSE
Nov. 9, 2010, 6:28 p.m. EST
Australian shares edge higher in early trading
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Bring some luck back from Genting Highland casino 
Noob79 ( Date: 10-Nov-2010 07:48) Posted:
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hehehe...its supposed to be split into two words - Aquila Clanga (Spotted Eagle)
Shoot...i'll miss the announcements tomorrow..have to report to camp...
guess i'll miss out on the excitements
BullishTempo ( Date: 10-Nov-2010 07:42) Posted:
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Hmm interesting nickname. I can't pronounce this one
We are all good.
Noble announced yesterday with good results. Profits increased 18.9% q-on-q.
Tomorrow Gar announcing at lunch break.
Tomorrow after market closed, GenSp and Olam are announcing.
Exciting week 
aquilaclanga ( Date: 10-Nov-2010 07:38) Posted:
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