1Q19

Sabana REIT posts 14.8% lower DPU of 0.75 cent amid market challenges, portfolio optimisation
SINGAPORE (April 22): The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) has announced a 1Q19 DPU of 0.75 cent, down 14.8% y-o-y from 0.88 cents a year ago due to lower revenue and net property income (NPI). This was largely attributed by the manager to a challenging market and portfolio optimisation, which saw the REIT divest non-performing and ...
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 ...
Upside potential for Kimly limited despite reasonable valuations, says RHB
SINGAPORE (Feb 20): RHB Research is maintaining “neutral” on Kimly Limited with a lower target price of 24 cents after lowering FY19F PATMI by 5% and says it sees limited potential upside to the stock despite its reasonable valuations. This comes post the release of Kimly’s 1Q19 earnings results, which reflected a lower y-o-y bottomline despite revenue growth, as distribution and selling ...
Jumbo still a wholesome 'buy' despite China business risks: CGS-CIMB
SINGAPORE (Feb 15): CGS-CIMB Research is maintaining its “add” call on Jumbo Group while lowering its target price to 52 cents from 54 cents previously to reflect 2-3% lower FY20-21F EPS on the account of weaker China operations. The latest price target is pegged to 21 times FY20F P/E versus the regional peer average of 20 times. This comes after the restaurant chain operator reported ...
Keong Hong's 1Q earnings double to $4 mil on joint venture gain
SINGAPORE (Jan 30): Property developer Keong Hong Holdings saw its earnings double y-o-y to $4 million in 1Q19 from $1.8 million, mainly due to a $4.4 million share of gain from a joint venture company. The bottomline growth came in spite of an 18.6% decline in quarterly revenue to $33.2 million from $40.8 million on the back of lower recognition of revenue from construction projects such as ...
Further acquisition deals, Paragon to serve as key re-rating catalysts for SPH REIT
SINGAPORE (Jan 7): OCBC Investment Research and Maybank Kim Eng are maintaining their “hold” calls on SPH REIT with an unchanged fair value estimate and price target of 99 cents and $1.02, respectively. This comes after the REIT’s 1Q19 earnings results came in line with both research houses’ estimates, with DPU coming in flat y-o-y at 1.34 cents due to the retention of a lower $1.3 ...
Grand Banks Yachts posts 10.1% dip in 1Q earnings on lower revenue, higher expenses
SINGAPORE (Nov 14): Grand Banks Yachts’ net profit for 1Q19 dipped 10.1% y-o-y to $1.1 million from the group’s restated earnings of $1.3 million on the back of lower revenue and higher operating expenses. For the 1Q ended Sept, the luxury boat maker reported revenue of $21.6 million, down 10.7% from restated 1Q18 revenue of $24.2 million due to fewer stock boats and trade-in boat sales ...
Creative Tech sinks into 1Q losses in absence of patent settlement gains
SINGAPORE (Oct 31): Creative Technology reported a loss of US$6.1 million ($8.5 million) for the 1Q ended Sept (1Q19), reversing into the red from its earnings of US$22.8 million in 1Q18 in the absence of other gains recorded in the latter period. While Creative booked other gains of US$32 million in 1Q18 largely due to a US$31.2 million received from the settlement of patent lawsuits as well ...
Singtel reports 6.6% lower 1Q earnings of $832 mil
SINGAPORE (Aug 8): Singtel posted 1Q19 earnings of $831.5 million, down 6.6% y-o-y compared to $889.8 million in restated 1Q18 earnings due to weaker results from Airtel and Telkomsel, reduced stake in NetLink NBN Trust, higher withholding taxes and adverse currency movements. Operating revenue fell 0.5% to $4.1 billion from restated 1Q18 revenue of $4.2 billion due to lower contributions ...
NetLink NBN Trust exceeds projected 1Q19 earnings by 26.9% at $19 mil
SINGAPORE (Aug 3): NetLink NBN Trust reported earnings of $19 million for 1Q19, 26.9% higher than the projected $15 million as disclosed in the group’s IPO prospectus. Revenue for the quarter exceeded forecasts by 2.8% at $86.1 million compared to the projected $83.8 million based on higher-than-projected diversion revenue and ducts & manholes service revenue. As at end-June, there ...