Koufu announces maiden post-IPO results with $6.2 mil earnings for 2Q

SINGAPORE (Aug 29): Koufu Group reported 2Q18 earnings of $6.2 million, down by 2.6% from $6.3 million a year ago on higher property-related expenses and depreciation charges.

This brings the group’s earnings for 1H18 to $12.4 million, representing a 1.4% decline from $12.5 million in 1H17 due to similar reasons.

Together, Koufu’s 2Q18 and 1H18 financials make up the group’s maiden results announcement since it commenced trading on 18 July this year.

IHH Healthcare still a promising 'buy' after 2H earnings disappointment, says CGS-CIMB

SINGAPORE (Aug 29): CGS-CIMB Research is maintaining its “add” recommendation on IHH Healthcare with a lower target price of RM6.63 ($2.21) compared to RM6.86 previously, even as the dual-listed Malaysian private healthcare operator’s 2H18 results missed expectations slightly.

Nam Cheong swings back to profitability in 1H18 post debt restructuring, resumes trading today

SINGAPORE (Aug 23): Nam Cheong swung back to profitability in 1H18 with earnings of RM0.6 million ($0.2 million) compared to its RM2.1 billion loss in 1H17 after restructuring a substantial amount of trade debts with its creditors, resulting in a waiver of debts amounting to RM557.5 million.

For the 2Q ended June, the Malaysian shipbuilder reported RM0.35 million in earnings, reversing from its 2Q17 loss of RM2 billion a year ago.

Clearbridge Health sinks deeper into the red with $12.2 mil loss

SINGAPORE (Aug 15): Clearbridge Health announced a loss of $12.2 million for the 2Q ended June, widening from the $0.2 loss it posted a year ago mainly due to fair value losses recorded during the quarter under review.

This brings the group’s losses to a total of $14 million for 1H18 compared to the $25,000 loss recorded in 1H17.

Spackman sinks deeper into the red in 2Q with $2.1 mil loss

SINGAPORE (Aug 15): Spackman Entertainment Group reported a loss of US$1.5 million ($2.1 million) for the 2Q ended June, widening from its 2Q17 loss of US$0.2 million on lower revenue and higher general & administrative expenses.

This brings the group to a loss of US$0.6 million for 1H18, compared to earnings of US$5.2 million a year ago.

Revenue for the latest quarter fell 32% on-year to US$1.7 million from US$2.4 million previously due to lower contributions from the production of films.

IFS Capital's 1Q earnings surge eightfold to $0.8 mil on lower allowances and impairments

SINGAPORE (Aug 14): IFS Capital has posted earnings of $0.8 million for 2Q18, representing an eightfold surge from its 2Q17 earnings of $0.1 million on lower allowances

For the 1H ended June, the group’s earnings rose to $0.5 million from $0.1 million a year ago.

Net interest income for 2Q remained relatively flat at $4.8 million, as 29.5% higher interest expenses of $1.9 million offset the 6.9% y-o-y growth in 2Q18 interest income to $6.7 million.  

Non-interest income fell to $4.8 million, down 13.5% from $5.6 million in 2Q17 due to lower net earned premium.

United Global's 2Q earnings halved to US$0.9 mil on higher administrative expenses

SINGAPORE (Aug 13): United Global reported earnings of US$0.9 million ($1.24 million) for the 2Q ended June, halving from its 2Q17 earnings of US$2 million on higher administrative expenses.

The latest quarter’s results brings the lubricant manufacturer and trader’s earnings for 1H18 to US$3.2 million, down 13.8% from US$3.6 million a year ago.

HRnetGroup on track for continued excellence in FY18, says RHB

SINGAPORE (Aug 13): RHB is maintaining “buy” on HRnetGroup with an unchanged target price of $1.18.

This comes after the group posted a strong 2Q18 set of results,with HRnetGroup’s 2Q topline ring 10.8% y-o-y due mainly to strong performances in North Asia and Singapore as well as higher gross profit margin, in line with the research house’s expectations.

MTI foresees slower 2H for Singapore's economy; maintains 2018 GDP growth forecast at 2.5-3.5%

SINGAPORE (Aug 13): The Ministry of Trade and Industry (MTI) expects Singapore’s economic pace of expansion to moderate in 2H18 against an external backdrop of a weakening global growth outlook, as well as increased uncertainties and risks in the global economy.

This comes even as MTI maintains its GDP growth forecast for 2018 at 2.5-3.5%, highlighting the “strong performance” of the Singapore economy in the first half of the year.

CityDev posts 79.5% rise in 2Q earnings to $205 mil; expects residential sales to moderate

SINGAPORE (Aug 10): City Developments (CDL) announced earnings of $204.8 million for the 2Q ended June, up 79.5% from its 2Q17 earnings of $114.1 million a year ago, backed by stronger sales recognition during the period under review.

This brings the group’s earnings for 1H18 to $284.8 million, up 35.8% from 1H17 earnings of $209.7 million after also accounting for The Criterion Executive Condominium (EC), which is now fully sold and achieved its temporary occupation permit (TOP) in 1Q.

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