Frasers Commercial Trust posts 4.4% lower 1Q DPU of 2.4 cents on lower income from properties

SINGAPORE (Jan 23): The manager of Frasers Commercial Trust (FCOT) has declared a distribution per unit (DPU) of 2.4 cents for 1Q18, a 4.4% decline from 2.51 cents in the preceding year on lower revenue.

Gross revenue for the quarter fell 11% to $35.3 million from $39.7 million a year ago on lower income across all six properties in the trust’s portfolio, led mainly by lower contributions from China Square Central, Alexandra Technopark and Central Park.

QT Vascular’s 1Q losses narrow to $11.2 mil on lower cost of sales

SINGAPORE (June 8): QT Vascular reported losses of US$8.1 million ($11.2 million) for the 1Q ended March. This was a 2.6% improvement from the losses of US$8.35 million suffered a year ago.

QT Vascular is engaged in the design, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of vascular disease.

Singapore economy in 1Q grew by 2.7% on year; FY growth forecast maintained at 1-3%

SINGAPORE (May 25): The Ministry of Trade and Industry (MTI) announced today that it has maintained the GDP growth forecast for 2017 at “1.0 to 3.0%”, with growth likely to come in higher than 2.0% barring the materialisation of downside risks.

The Singapore economy grew by 2.7% on a year-on-year basis in the first quarter, easing from the 2.9% growth in the previous quarter.

On a quarter-on-quarter seasonally-adjusted annualised basis, the economy contracted by 1.3%, after posting a strong rebound of 12.3% in the preceding quarter.

CNMC Goldmine no longer a golden ‘buy’; DBS suspends coverage

SINGAPORE (May 19): DBS Vickers Securities is downgrading its call on CNMC Goldmine Holdings to “hold” from “buy” with a lower target price of 31 cents from 60 cents previously, while also suspending coverage on the stock due to the lack of earnings visibility.

This comes after CNMC’s 1Q17 earnings came in below the research house’s expectations, falling 99% as compared to the previous year due to lower ore grades.

Spackman to be the sleeper hit of financial reporting seasons ahead

SINGAPORE (May 16): RHB is maintaining its “buy” call on Spackman Entertainment Group with a target price of 27 cents, while noting that the stock is currently trading at a much lower valuation versus local peers and has a positive outlook.

To recap, the group on Monday announced 1Q earnings of $7.6 million, reversing from its net loss position in the same quarter a year ago after recognising earnings from its blockbuster movie, Master, as well as a US$3 million gain from the disposal of its Spackman Media Group (SMG) shares in relation to its latest acquisition.

China Jinjiang Environment reports 6.8% earnings growth to $25.8 mil in 1Q

SINGAPORE (May 16): China Jinjiang Environment reported 1Q earnings at RMB127.4 million ($25.8 million), 6.8% higher than a year ago on better margins.

The bottomline growth comes despite a 3.6% decline in revenue to RMB557.6 million as compared to RMB578.4 million in the previous year, primarily due to lower revenue from construction services provided under build-operate-transfer (BOT) concession agreements over the quarter, as well as lower contributions from the group’s project technical and management services and energy management contracting (EMC) business.

Straits Trading reports 2.7% decline in 1Q earnings to $21.9 mil on lower revenue

SINGAPORE (May 15): Straits Trading Company, the group with stakes in real estate, hospitality resources and investments in Asia Pacific, has announced $21.9 million in earnings for the first quarter ended March 31 – representing a 2.7% decline from its previous year’s earnings of $136.5 million.

This brings earnings per share for the quarter under review to 5.4 cents from 5.5 cents a year ago.

ZICO back in the black with 1Q earnings of $0.6 mil on higher revenue

SINGAPORE (May 15): ZICO Holdings, the integrated network of professional service firms, announced 1Q17 earnings of RM1.8 million ($0.6 million), reversing from the RM2.7 million loss it reported a year ago.  

Revenue for the quarter grew 10.7% to RM16.7 million from RM15.1 million a year ago, driven by a 28.9% increase in contributions from its advisory & transactional services (ATS) segment to RM10.7 million from RM8.3 million previously on additional contributions from advisory service on corporate finance under ZICO Capital.

Golden Energy and Resources 1Q earnings increase over 11-fold to $26.5 mil on revenue surge

SINGAPORE (May 15): Golden Energy and Resources (GEAR), the coal mining and trading company, posted 1Q earnings of US$19 million ($26.5 million), up more than 11 times from its earnings of US$1.7 million in the previous year on higher revenue and lower finance costs.

Bumitama 1Q earnings rise 21.4% to $29.3 mil on higher revenue

SINGAPORE (May 15): Bumitama Agri reported 1Q earnings of IDR 278.4 billion ($29.3 million), 21.4% higher than the same quarter a year ago.

Revenue grew 40.7% to IDR 2.1 trillion from IDR1.5 trillion in the previous year, which was attributable to the higher sales price of palm products as well as biodiesel compared to the previous corresponding period.

Notably, revenue from the group’s crude palm oil (CPO) and palm kernel (PK) segments grew 34.6% and 78.7% to IDR 1.7 trillion and IDR 331.8 billion respectively.

Be informed of the stories that matter