SUTL Enterprise 3Q earnings rise 30% to $0.7 mil

SINGAPORE (Nov 9): SUTL Enterprise saw a 30% increase in net attributable profit to $657,000 for 3Q17 compared to $504,000 in 3Q16, which marina developer and operator attributes to its ongoing efforts to increase operational efficiency.

Revenue for the quarter rose 1% to $6.5 million over the quarter compared to $6.4 million a year ago.

Sales of goods and services fell 1% to $4.6 million while membership-linked fees and management fees rose 3% to $1.7 million.

Other income rose 1% to $6.5 million.

SGX tops EY's regional IPO leader board for 3Q with US$1.7 bil in proceeds

SINGAPORE (Sept 28): The Singapore Exchange (SGX) has emerged as Asean’s top initial public offering (IPO) market performer for the third quarter of 2017 with proceeds of US$1.7 billion ($2.3 billion).  

This was largely thanks to the listing of telecoms company NetLink NBN Trust, the largest IPO in Asia-Pacific for the quarter, according to the latest EY Global IPO Trends: Q3 2017 report.

Maybank expects flash 3Q GDP at 3.8% as manufacturing charges ahead

SINGAPORE (Sept 26): GDP growth is expected to strengthen significantly in the third quarter with flash estimates seen coming in at +3.8%, up sharply from the +2.9% in 2Q, predicts Maybank Kim Eng.

This comes after data from the Singapore Economic Development Board showed industrial production continued to surge upwards with pharmaceuticals joining the rally.

Maybank says its full year GDP growth forecast at 3% and the government’s 2%-3% forecast now face upside risk.

Outlook on Manulife US REIT remains positive after a ‘respectable’ quarter

SINGAPORE (Feb 13): Although Religare is still in the midst of reviewing its latest rating on Manulife US REIT, the research house says it remains upbeat on the REIT’s outlook given how its 4Q16 results exceeded forecasts as the US office market continues to strengthen.

Hold your horses on SingPost, advise brokerages

SINGAPORE (Feb 13): UOB Kay Hian, Maybank Kim Eng and OCBC Investment Research are unanimously maintaining their “hold” calls on Singapore Post (SingPost) after the provider of mail, logistics and eCommerce solutions on Friday posted a 27.9% fall in 3Q17 earnings – falling short of earnings estimations for all three research houses.  

Don’t be too heartened by SIA’s fuel hedging move yet, say analysts

SINGAPORE (Feb 9): UOB Kay Hian maintains its “hold” rating in Singapore Airlines (SIA) while raising its target price on the stock to $10.40 from $10.10 previously, following the release of the carrier’s 3Q17 results.

The suggested entry price is $9.60 based on a 10% total return, inclusive of dividends.

Cordlife sinks into the red in 1Q on absence of one-off gains

SINGAPORE (Nov 11): Cordlife Group posted $0.6 million in losses in 1QFY17, reversing from earnings of $7.3 million a year ago due to the absence of one-off fair value gains.

Revenue increased by 0.8% in 1Q17 mainly due to contribution from Stemlife, which became a subsidiary of Cordlife in Dec 2015.

In 1Q16, the group’s disposal of its shares in China Cord Blood Corporation (CCBC) allowed it to record $2.1 million of fair value gains, which was absent in this quarter’s set of financial results.  

The stars are aligning for this entertainment stock

SINGAPORE (Nov 11): RHB is keeping its “buy” call on Spackman Entertainment Group” at a target price of 22 cents, with the view that the stock’s outlook is currently at its best since its initial public offering (IPO) in 2014.

 This comes after the entertainment production company on Thursday posted 3Q16 earnings of US$1.5 million ($2.1 million) compared to its loss of US$1 million a year ago.

Vard’s 3Q losses narrow to $13.5 mil on loss provisions

SINGAPORE (Nov 11): Specialist shipbuilder Vard Holdings posted losses of NOK80 million ($13.5 million) for 3Q16, narrowing 84% from NOK486 of losses in the same period a year ago.

Revenue for the quarter was down 34% to NOK1.5 bil as compared to 2.3 bil in the previous year due to reduced activity, particularly in the European yards as well as during the cessation of operations in Vard Niterói.

ST Engineering’s 3Q earnings fall 42% to $76.7 mil on one-off impairment charge

SINGAPORE (Nov 10): ST Engineering, the engineering solutions provider, posted a 42% decline in 3Q16 earnings to $76.7 million from $133.3 million a year ago.

The weaker bottom line was mainly attributed to the land systems sector, which grew 5% in revenue to $334 million but reported a net loss before tax of $41.4 million. This was a result of a $61.1 million one-off charge on an impairment of asset carrying values and provision for closure costs for JHK, its road construction equipment business in China.

Be informed of the stories that matter


Be informed of the stories that matter