Company Results

SembCorp Marine (S$4.73) 
Q4 profit down 27%

SembCorp Marine has reported a 27% drop in its Q4 net profit to $167mil due to sharply lower margins recognised on its offshore newbuilds. Revenue up by 38% to $1.38bil as the yard recognised revenue on more rig projects and more ship conversion work. It has proposed a final dividend of six cents and a final special dividend of two cents.


Genting Singapore (S$1.50) 
Q4 profit slumps 50%

Genting Singapore posted a 50% fall in 4Q net profit attributable to shareholder to S$133mil for the three months ended Dec 31, 2012 while revenue rose 1% to $792mil. The fall was due to factors such as the higher operating costs incurred due to last November's opening of the 8ha Marine Life Park. EPS for the 4Q worked out to 1.09 cents.


CapitaLand (S$3.90) 
Net profit in Q4 slips 44.9%

CapitaLand reported 4Q net profit dropped 44.9% to
$262.7mil, even as revenue rose 4.9% to $1.1bil. The year‐on‐year profit fall was due to factors such as lower valuation and portfolio gains and higher impairment. EPS was 6.2 cents for Q4. An ordinary dividend of 7 cents per share was proposed.


Cosco Corporation (S$0.95) 
Full‐year earnings fall 24%

Cosco Corporation's full‐year net profit slipped 24% to $105.69mil and turnover fell 10% to $3.73bil, owing to a decrease in shipyard and dry bulk shipping revenue. EPS for the year came in at 4.72 cents. The group has recommended a two cent per share first and final dividend. As at Dec 31, Cosco's order book stood at US$6.1bil with progressive deliveries up to 2015. "This order book is subject to revision from any new or cancellation of orders that may arise," it said. Cosco said the rig will be one of the biggest and most modern semi‐submersible tender assist drilling rigs in the market. Delivery has been set for June 2015.