You are here

Stocks to watch: DBS, Singtel, Polaris, mm2Asia

dbs.jpg
DBS Group reported on Monday that it generated a net profit of S$1.07 billion for the third quarter ended Sept 30, 2015, up 6 per cent from a year ago.

THE following companies released material announcements before trading commenced on Monday morning:

DBS Group reported on Monday that it generated a net profit of S$1.07 billion for the third quarter ended Sept 30, 2015, up 6 per cent from a year ago. Total income rose 8 per cent to S$2.71 billion as net interest income rose 13 per cent to reach a record at S$1.81 billion, with net interest margin at a four-year high of 1.78 per cent.

Compared to the previous quarter, net profit was 5 per cent lower from an increase in general allowances.

During the quarter under review, loans grew 9 per cent, largely due to currency effects. Net fee income fell 7 per cent to S$517 million as investment banking fees fell from a high base a year ago. Other non-interest income rose 7 per cent to S$382 million from higher trading income and from the disposal of properties.

sentifi.com

Market voices on:


Singtel's Optus has won the bid for the exclusive Australian rights to the Barclays Premier League for three seasons, starting in August 2016.

This includes live broadcast coverage and digital rights for broadband and mobile for all 380 Premier League games, every season. Allen Lew, chief executive at Optus, said the announcement was a great win for Optus and would ensure that Aussie football fans can watch all the action from the world's most popular football league, which boasts of having 930 million followers worldwide.

Polaris has warned that it expects to record a net loss for the financial year ending Dec 31 due to its Indonesia-based associate company PT Trikomsel Oke Tbk. Polaris has a 44.88 per cent stake in mobile phone retailer Trikomsel, which released its third-quarter results on Oct 30. Trikomsel has been struggling with sluggish sales amid a slowdown in the Indonesian economy, as well as the weakening of the rupiah against the greenback.


Singapore-based mm2 Asia completed the acquisition of two cinemas in Malaysia from Cathay Cineplexes for RM40 million (S$13.1 million) on Nov 1. The two cinemas - Cathay Cineplex Damansara in Kuala Lumpur, and Cathay Cineplex City Square in Johor Bahru - have a combined total of 30 screens and 5,298 seats. On Aug 20, the group had also announced the signing of a binding term sheet with Mega Cinemas Management to acquire cinemas at three locations in Malaysia. Those three cinemas have a combined total of 13 screens and 2,712 seats.

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom