Good week

ST Aerospace
 © ST Aerospace
ST AEROSPACE The Singapore-based maintenance, repair and overhaul firm posted 15% pre-tax profits growth to S$262.2 million ($205 million) despite turnover holding flat at S$1.88 billion. President Chang Cheow Teck says: "Despite the lower income from jobs credit scheme and the unfavourable impact of the lower US dollar, the sector improved its profits in 2010." Chang expects profits to rise again in 2011 on sales comparable with last year's.

Bad week

Garuda
 © pizzaboy1/Wikipedia commons
GARUDA Those who feared Indonesia overvalued its airline by selling 28% for $530 million were proved right a day later, when the Jakarta stock market opened and shares in the now part-privatised carrier slumped 20% to just 580 rupiah ($0.06). They recovered only slightly to close day one's trading at around 620 rupiah. The original plan was to offer up to 9.4 billion shares at 750-1,100 rupiah, but ultimately just 6.3 billion shares went on the block.

 

 

Source: Flight International

Topics