NetLink NBN Trust beats 3Q projection by 18% with earnings of $19.6 mil

NetLink NBN Trust beats 3Q projection by 18% with earnings of $19.6 mil

Stanislaus Jude Chan
13/02/19, 06:53 pm

SINGAPORE (Feb 13): The trustee-manager of NetLink NBN Trust has announced earnings of $19.6 million for the 3Q19 ended December, outperforming its IPO projection by 17.6%.

3Q19 revenue came in at $89.0 million, 3.4% higher than projected.

This was led by higher-than-projected revenue from residential connection, non-residential connections and NBAP & Segment connections, as well as driven by higher diversion revenue from completed projects.

Total expenses for 3Q19 amounted to $71.7 million, which was 0.4% lower than projection.

Earnings per unit stood at 0.50 cent for 3Q19, higher than the projected 0.43 cent.

As at end December, cash and cash equivalents stood at $101.8 million.

Moving ahead, NetLink Trust says it is well-positioned to support Singapore’s Smart Nation initiatives, the developments in Punggol Digital District and Jurong Innovation District, and the fourth mobile telecommunication operator in its mobile network deployment, among others.

It adds that it is monitoring the development of the 5G network in Singapore and will explore opportunities associated with the new technology.

“Our highly resilient business model continued to deliver results that have exceeded projections. We expect a steady growth in the number of connections as more end-users migrate to fibre,” says Tong Yew Heng, chief executive officer of the trustee-manager.

Units in NetLink NBN Trust closed flat at 80.5 cents on Wednesday.

Right timing: STI’s upclimb supported by momentum and moving averages

SINGAPORE (Apr 20): There has been little change in the trend and chart pattern of the Straits Times Index. The index has been on a very glacial ascent towards 3,420, the target indicated when the index broke out of resistance at 3,190 in mid-Jan. Quarterly momentum eased during the past four trading sessions. The 100- and 200-day moving averages have turned positive. This coupled with positively placed DIs and rising ADX should continue to underpin the STI. The only cautionary signals are the somewhat overbought levels of short term stochastics and 21-day RSI, and stagnant vol....

SMI takes legal action against Hyflux; Maybank moves on Tuaspring

(Apr 20): SM Investments (SMI) has terminated its rescue agreement with Hyflux, it announced on Friday. Hyflux, on its part, had already on April 4 terminated the same agreement with SMI. SMI claims it has thus far abided by the agreement. “To clarify, SMI does not accept the purported termination of the Restructuring Agreement by Hyflux on 4 April 2019. This is because the termination was not in accordance with the terms of the Restructuring Agreement," said SMI. Under the agreement reached last October, SMI, led by Indonesian tycoon Anthoni Salim, was to have invested $530 million in....

CCT reports 3.8% higher 1Q DPU of 2.20 cents on higher property contributions

SINGAPORE (April 19): The manager of CapitaLand Commercial Trust (CCT) has reported a 1Q19 distribution per unit (DPU) of 2.20 cents, rising 3.8% y-o-y from 2.12 cents due to higher contributions from Gallileo and Asia Square Tower 2. Gross revenue and net property income (NPI) for the quarter increased by 3.5% and 3.4% to $99.8 million and $79.8 million, respectively. This comes after booking contributions from Gallileo – an office building in Frankfurt, Germany which the trust acquired a 94.9% stake in during June 2018 – as well as higher occupancy at Asia Square Tower 2, both of w....