Singapore consumer confidence index climbs to 94 pts in 3Q17, says Nielsen

SINGAPORE (Dec 21): Singapore’s 3Q17 consumer confidence index climbed to 94 points, up 5 points from last quarter’s 89, according data analytics firm Nielsen.

“Accounting for two-thirds of Singapore’s economy, robust expansions in the manufacturing and service sectors have led to a rebound in Singapore’s economy in this quarter. The rising consumer confidence is also reflected in the local job prospects in the next 12 months at 41%. However, locals continue to be mindful on the economic outlook and their job security,” says Johan Vrancken, Managing Director, Nielsen Singapore.

Robust balance sheet & occupancy rates keep Wheelock Properties at 'buy'

SINGAPORE (Nov 24): OCBC Investment Research is maintaining its “buy” call on Wheelock Properties with an unchanged fair value estimate of $2.27, given the stock is attractively priced at 0.74 times FY16 book.

This comes after Wheelock reported 3Q17 results that were broadly in line with the research house’s expectations, indicating a strengthening of the group’s balance sheet in spite of lower 9M17 revenues due to decreased sales at Ardmore Three and The Panorama.

TPV Technology sinks into the red in 3Q

SINGAPORE (Nov 24): TPV Technology announced a loss of US$19.6 million ($26.4 million) for the 3Q17 ended Sept compared to profits of US$18.6 million in 3Q16.

This was due to a US$21 million inventory provision, higher selling expenses and the fair market valuation loss from foreign exchange (forex) hedges.  

Revenue was largely unchanged at US$2.5 million compared to a year ago, with an improvement of gross profit margin to 8.2% from 7.9% in 3Q16 on the back of a favourable foreign exchange environment.

Poh Tiong Choon's 3Q earnings dip 3% to $2.7 mil on higher expenses

SINGAPORE (Nov 14): Poh Tiong Choon Logistics announced earnings of $2.7 million for the third quarter ended Sept, down 3% from $2.8 million a year ago due to higher total expenses.

Revenue for the quarter grew 5% to $36.7 million compared to $34.8 million, due to higher volumes handled by both the group’s Warehousing and Transport Operations segments.

Total expenses, however, increased by 6% to $33.4 million from $32.5 million in 3Q16.

Fu Yu Corp posts 56% lower 3Q earnings but still declares second interim dividend of 0.25 cent

SINGAPORE (Nov 14): Fu Yu Corporation reported a 55.9% decline in 3Q17 earnings to $0.8 million compared to earnings of $1.8 million in the same period a year ago, due to higher operating expenses and a loss of joint venture.

The manufacturer and supplier of high-precision injection moulds and plastic parts posted 4.5% higher revenue of $50.2 million from $48.1 million a year ago on higher sales from the group’s Singapore and Malaysia operations, while sales from its China segment remained steady.

Straco posts 6.1% lower 3Q earnings of $21.3 mil

SINGAPORE (Nov 14): Straco Corporation announced earnings of $21.3 million for 3Q17, representing a 6.1% decline from its 3Q16 earnings of $22.7 million a year ago, on lower revenue and higher expenses.

Revenue for the quarter fell 3.2% to $461 million from $47.6 million a year ago due to lower income from its Underwater World Xiamen (UWX) business in China, which was offset in part by increased contributions from Shanghai Ocean Aquarium (SOA), Lixing Cable Car and Straco Leisure, which operates the Singapore Flyer.

Amara posts 20% lower 3Q earnings of $3.2 mil on higher costs

SINGAPORE (Nov 13): Amara Holdings reported a 20% decline in 3Q17 earnings to $3.2 million from $4 million in the same period a year ago, on higher costs incurred over the quarter ended Sept.

Revenue for the quarter grew 12% to $22.2 million from $19.8 million previously, mainly due to higher revenue contributions from the group’s Hotel Investment and Management segment and Property Investment and Development segment.

Sapphire posts 3Q earnings of $3.6 mil; directors to step down for board renewal in share-swap deal

SINGAPORE (Nov 13): Sapphire Corporation, the railway infrastructure engineering firm, has announced earnings of RMB17.6 million ($3.6 million) for the 3Q ended Sept, a 31.1% improvement from RMB13.4 million a year ago on higher revenue.

Revenue for the quarter grew 22.6% to RMB369.5 million from RMB301.4 million previously on the completion of its subsidiary Ranken Infrastructure Limited’s site preparation works and commencement of the construction phase of several recently secured projects, in addition to a higher number of ongoing projects in China.

CWG's 3Q losses narrow to $5 mil on higher revenue

SINGAPORE (Nov 13): Property developer CWG International saw 3Q losses narrow to RMB25 million ($5 million) from RMB53.3 million a year ago on a surge in revenue over the quarter.

Revenue grew 63% to RMB193 million ($39.6 million) from RMB118.1 million a year ago, primarily due to an increase in the number of property units in Australia handed over to customers.

Zhongmin Baihui posts 20% lower 3Q earnings on higher expenses & lower margins

SINGAPORE (Nov 13): Zhongmin Baihui has announced profit after taxation of RMB9.8 million ($2 million) for the 3Q ended Sept, representing a 20% decline from RMB12.3 million in earnings in the previous year on higher expenses and lower margins.

Revenue for the quarter grew 17% to RMB241.8 million from RMB206.8 million previously on higher contributions from additional stores which opened at the end of 3Q16 and the following quarter.

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