2Q19

Why Maybank KE prefers Frasers Centrepoint Trust over SPH REIT
SINGAPORE (Apr 8): Maybank Kim Eng is reiterating its “hold” call on SPH REIT with an unchanged target price of $1.05 on expectations of limited retail sales growth. Instead, the research house prefers Frasers Centrepoint Trust (FCT), rated “buy” with a $2.60 target price, for its suburban-mall footprint and a 6% three-year DPU CAGR. This comes post the release of SPH REIT’s 2Q19 ...
Top Glove posts 2.9% lower 2Q earnings of $35.3 mil despite strong revenue growth
SINGAPORE (Mar 22): Top Glove has reported RM105.8 million ($35.16 million) in earnings for the 2Q ended Feb, representing a 2.9% y-o-y decline from its 2Q18 earnings of RM109 million due to higher finance costs and taxes, as well as lower associate contributions. This brings the group’s earnings for 1H19 to a total of RM215.8 million, up 0.6% on-year from RM214.5 million in 1H18. Revenue ...
Lifebrandz 2Q losses widen 18% to $0.6 mil on higher sales activities, business expansion
SINGAPORE (Mar 14): Lifebrandz saw its losses in 2Q widen 18% to $0.6 million from $0.5 million a year ago, mainly due to an increase in total expenses which the group attributes to higher sales activities and business expansion. Group revenue for the quarter grew 65% to $1.5 million from $0.9 million in 2Q18 on the back of higher revenue from the food and beverage (F&B) segment, out of ...
Wing Tai announces 14% lower 2H earnings of $18.2 mil in absence of one-off gain
SINGAPORE (Feb 13): Regional property and lifestyle group Wing Tai Holdings has reported 1H19 earnings of $18.2 million, 14% down from $21.1 million a year ago in the absence of a one-off gain on disposal of a subsidiary. Nonetheless, the group’s latest set of 2Q19 earnings grew threefold y-o-y to $16.1 million from $5 million in the previous year. Revenue for 2H19 grew 7% to $193.9 ...
AusGroup reports 87.9% fall in 2Q earnings to A$0.5 mil on reduced operating activity
SINGAPORE (Feb 13): Construction and engineering company AusGroup saw its earnings fall 87.9% y-o-y to A$0.49 million ($0.47 million) for the 2Q ended Dec 2018 as compared to earnings of A$4.8 million in 2Q18, due to reduced operating activity. This brings the group’s earnings for 1H19 to A$1.8 million, down fourfold from A$7.2 million in the previous year. Revenue for the latest quarter ...
Starhill Global REIT posts 3.4% lower 2Q DPU of 1.13 cents
SINGAPORE (Jan 29): The manager of Starhill Global REIT (SG REIT) has announced a distribution per unit (DPU) of 1.13 cents for 2Q19, 3.4% lower than its DPU of 1.17 cents a year ago due to lower net property income (NPI), higher interest costs and higher distributable income retained. Gross revenue and NPI for the quarter fell 2.7% and 2.4% to $51 million and $39.5 million, ...
Lian Beng posts 21% growth in 2Q earnings to $7.7 mil
SINGAPORE (Jan 15): Lian Beng Group reported $7.7 mil in earnings for 2Q19, up 21.3% from a year ago due to higher margins. Revenue came in 15.3% lower at $79.9 million compared to $94.4 million in 2Q18, as lower sales contribution from the Property Development segment offset higher sales from the Construction and Investment Holding segments. Cost of sales fell 21% to $63.5 million over the ...
Stamford Tyres 2Q earnings shrink to $19,000 on higher expenses
SINGAPORE (Dec 6): Stamford Tyres announced earnings of $19,000 for 2Q19, down 99% from $1.6 million in 2Q17 due to higher total expenditure and lower share of results of joint ventures. This comes even as revenue for the quarter grew 7.9% y-o-y to $63.7 million from $59 million previously, on the back of improved sales in Stamford’s Southeast Asian markets. Gross profit margin, however, ...
SIA Engineering reports 1.6% lower 2Q earnings of $38 mil on revenue decline
SINGAPORE (Nov 8): SIA Engineering Company (SIA EC) posted earnings of $38 million for 2Q19, 1.6% lower than $38.6 million in 2Q18 due to lower sales. Revenue for 2Q fell 8.5% to $251.3 million on the back of lower airframe and fleet management revenue contributions. Expenditure fell 5.7% on-year to $240 million compared to $254.6 million previously as a result of lower material and ...
Singtel's 2Q earnings lower at $667 mil on absence of one-off gain
SINGAPORE (Nov 8): Singtel announced earnings of $667.2 million for 2Q19, down from its restated earnings of $2.85 bil in 2Q18, where a $2.05 billion exceptional gain was booked on the partial divestment of NetLink Trust. Excluding one-off items, underlying net profit fell 21% on lower contributions from Airtel and Telkomsel, as well as forex losses that came on the back of a stronger ...