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Cosco Corp: 3Q Net Profit Down 42% To S$32.2m!
By Dou  •  November 2, 2011

On 02/Nov, Singapore shares ended higher as investors turned optimism on political developments in Greece.

STI ended lower at 2834.75 (1.6%) with HIGH VOL of 2.45 billion shares traded compared with 1.42 billion shares Tuesday. In the broader market, gainers outnumbered losers 303 to 178. The rally for STI is lack of conviction as investors are merely buying up bank stocks to push up the index.

Headline in STI

Before market close

DBS Group Holdings Ltd. (D05.SG) 3Q net profit rose 6% to S$762 million (US$595.4 million) compared with S$722 million a year earlier due to strong loan-and-fee and commission-income growth.

After market close

Cosco Corp. (Singapore) Ltd. (F83.SG) 3Q net profit fell 42% from a year earlier to S$32.2 million because of lower profit contributions its from dry bulk shipping and shipyard operations.

United Overseas Bank Ltd. (U11.SG) 3Q net ...

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By Dou
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