SINGAPORE
SingTel (ST) posted 1Q net income up 3.2% YoY to S$945M, underlying net profit down 2.6% to S$850M and EBITDA down 3.2% to S$1.2B on revenue of S$4.5B, down 1.6%. The Co added: "Revenue from Singapore1 rose 8% to S$1.67B, with strong contribution from NCS (NCS Pte Ltd), while Optus' revenue fell 3% to A$2.24B due to mobile termination rate cuts, lower equipment sales and service credits associated with device repayment plans. (...) The weaker Australian Dollar and regional currencies adversely affected results this quarter." The Co affirmed its FY guidance.
CapitaCommercial Trust (CCT) announced the pricing of a S$175M 5-year convertible bond issue.
Noble Group (NOBL) reported 2Q net income up 39.3% YoY to $195M on revenue of $24.2B, up 23.0%.
City Developments (CIT) unveiled 2Q net income down 37.7% YoY to S$138M and operating profit down 45.7% to S$181M on revenue of S$788M, down 19.6%.
Thai Beverage PCL (THBEV) bought appx. 29.52M shares in Fraser and Neave (FNN) on August 8 raising its holding to 26.2% from 24.1% according to a disclosure at the Singapore Exchange.
Comfortdelgro Corp (CD) announced 2Q net income of S$65M, up 8.5% YoY, on revenue of S$885M, up 5.0%.
Wilmar International (WIL): 2Q results expected.
Singapore Technologies Engineering (STE): 2Q results expected.
Global Logistic Properties (GLP): 1Q results expected.
US indices were mixed on Monday. On the US economic data front, no major data were released today. Stocks in the technology hardware & equipment and consumer durables & apparel sectors traded higher while shares in the materials and semiconductors & semiconductor equipment sectors were under pressure. Regarding US stocks, Tesoro (TSO +9.49% to $38.87) has agreed to buy BP's integrated Southern California refining and marketing business for $1.175B plus the value of inventory at the time of closing (currently valued at appx. $1.3B). In other news, Julius Baer announced it has agreed to acquire Merrill Lynch's International Wealth Management business outside the US from Bank of America (BAC -0.26% to $7.72). Separately, Google (GOOG +2.81% to $660.01) announced in SEC filing dated August 3 that it plans to cut appx. 4000 jobs or 20% of Motorola Mobility's workforce.
In Europe , there was no major economic data yesterday. Regarding the stocks, Julius Baer lost ground after the Co agreed to buy Bofa's Merrill Lynch wealth management business outside the US . Petrofac fell as the Co said profit growth will slow. The Nikkei225 index opened higher this morning.
CHINA - HK
MTR Corp (66) posted 1H net income down 33.2% YoY to HK$5.9B and EBITDA up 8.6% to HK$6.5B. 1H revenue grew 6.1% to HK$17.2B, including revenue from railway subsidiaries outside of Hong Kong of HK$6.3B (+2.7%). Property development profit fell 56.6% to HK$627M. The Co declared an interim dividend of HK$0.25 per share, the same as in a year earlier. The Co added: "Although a number of our businesses are less sensitive to economic changes, slowing growth in Hong Kong together with the additional fare concessions we have announced will impact the overall growth of our recurrent businesses."
Chalco (2600) announced deals for a total of 35.3% stake in Ningxia Electric Power, including the purchase of a 23.42% stake for 1.3B yuan from Bank of China Group Investment Ltd (BOCGI) and a 11.88% stake for 675M yuan from China Zhongtou Trust.
Swire Properties (1972)'s shareholder John Swire & Sons is placing up to 288M shares in the Co at HK$21.47-21.94 per share to cash in up to HK$6.3B, according to a term sheet cited by Hong Kong Economic Journal.
Ping An Insurance (2318) reported January-July gross premium income of 143.8B yuan, up 11.0% YoY.
China Pacific Insurance (2601) posted gross premium income up 4.2% YoY to 101.5B yuan in the January-July period.
China Taiping Insurance (966) said January-July premium income grew 11.6% YoY to 26.1B yuan.
Evergrande Real Estate (3333) reported contracted sales of 8.2B yuan in July, flat compared to June.
China Southern Airlines (1055) announced July passenger traffic up 7.2% YoY to 8.15M and passenger load factor down 2.0 percentage points to 82.9%. July cargo & mail volume grew 9.1% YoY to 98K tons.
Air China (753)'s passenger traffic rose 3.3% YoY to 4.57M in July with passenger load factor falling 2.1 percentage points to 84.4%. July cargo & mail volume rose 9.0% YoY to 99K tons.
SouthGobi Resources Ltd (1878) unveiled 2Q net income of $0.2M vs $67M a year earlier on revenue of $8M, down 82.2%.
China Merchants Securities (600999) reported 1H net income down 35.7% YoY to 949M yuan on turnover of 2.6B yuan, down 20.9%.
Suning Universal (000718) posted 1H net income up 21.4% YoY to 413M yuan on turnover of 2.0B yuan, up 33.0%.
Pingdingshan Tianan Coal Mining (601666) unveiled 1H net income down 27.0% YoY to 830M yuan on revenue of 12.4B yuan, down 3.2%.
Google Trend HK - popular searches: CITIC Securities Co Ltd (6030), Sun Hung Kai Properties (16)
China Unicom Hong Kong (762): 2Q results expected.
CLP Holdings (2), Cosco Pacific Limited (1199), Anhui Conch Cement (914): 1H results expected.
XCMG Construction Machinery (000425), Advanced Technology & Materials (000969), Shenzhen Laibao Hi-tech Co (002106), RiseSun Real Estate Development (002146), Shanghai Pudong Development Bank (600000), Fiberhome Telecommunication Technologies Co (600498), Jilin Yatai Group (600881), Xi'An Shaangu Power (601369): 2Q results expected.
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