United Engineers reports 16% lower 3Q earnings of $7.7 mil on revenue decline

SINGAPORE (Nov 14): United Engineers reported 16% lower 3Q18 earnings of $7.7 million, down from $9.1 million a year ago on lower revenue.

Revenue fell 31% y-o-y to $81.5 million from $118.2 million in 3Q17, mainly due to lower revenue from the property development segment as well as in the absence of revenue contribution from the group’s liquefied petroleum gas (LPG) business after it was divested towards the end of 2017.

UOL 3Q earnings down more than sixfold to $93 mil post UIC consolidation

SINGAPORE (Nov 13): UOL Group announced $92.8 million in earnings for the 3Q ended Sept, down more than sixfold from its restated 3Q17 earnings of $609.2 million in the absence of a one-off gain from the consolidation of United Industrial Corporation (UIC) group in 2017.  

See: UIC posts 36% fall in 3Q earnings to $59.3 mil on lower sales

Sasseur REIT's sales growth momentum will lead to even stronger 4Q: Maybank KE

SINGAPORE (Nov 13): Maybank Kim Eng is maintaining “buy” on Sasseur REIT with an unchanged 90-cent price target after the REIT manager on Monday declared higher-than-forecast DPU of 1.542 cents, outpacing the research house’s 3-40% growth forecasts for its four outlet malls.

Looking ahead, the research house expects the REIT’s strong growth sales momentum in 3Q18 to pick up into its seasonally-strongest 4Q going forward.

Clearbridge Health posts smaller 3Q loss of $2.5 mil

SINGAPORE (Nov 12): Clearbridge Health recorded a loss of $2.5 million for the 3Q ended Sept, 21.4% smaller than its net loss of $3.2 million a year ago on higher revenue derived from its newly-commenced businesses.

Revenue for the quarter was $2.05 million compared to just $0.1 million in 3Q17, upon recording contributions from Clearbridge’s medical clinics/centres in Singapore and Hong Kong, which commenced operations in July 2017.

IREIT Global's 3Q DPU unchanged at 1.42 cents after hedging; says no more lease expiries in 2019

SINGAPORE (Nov 12): The manager of IREIT Global has announced a 3Q18 distribution per unit (DPU) of 1.42 cents, unchanged from a year ago in SGD terms after taking into account forward foreign currency exchange contracts entered into to hedge against currency risks for distribution to unitholders.  

In terms of the euro currency alone, DPU for 3Q was 0.88 euro cent, down 4.2% from 0.92 euro cent in the same period a year ago.

China Everbright registers 17% higher 3Q earnings of $29 mil on revenue growth

SINGAPORE (Nov 12): China Everbright announced HKD164.3 million ($29 million) in earnings for the 3Q ended Sept, up 17% from the group’s 3Q17 earnings of HKD140.9 million a year ago due to higher revenue.

Revenue for the quarter grew 39% to HKD1 billion from HKD746.1 million a year ago, mainly attributable to higher construction and operation revenue contributions.

Halcyon Agri's 3Q earnings slump to $2.3 mil on lower margins, higher costs

SINGAPORE (Nov 12): Halcyon Agri Corporation reported earnings of US$1.7 million ($2.3 million) for the 3Q ended Sept, down 75.8% from restated 3Q17 earnings of $7.2 million due to lower margins and higher costs.  

In particular, the group’s Global Tyre Majors segment continues to experience margin compression as a result of low rubber prices, which limits the supply of raw materials to its factories. This was however partially offset in part by a higher distribution margin from the Global Non-Tyre and Specialty Tyre segment.

ComfortDelGro posts 2% lower 3Q earnings; to set up new US$100 mil global VC fund

SINGAPORE (Sept 9): ComfortDelGro Corporation (CDG) posted $78.5 million in earnings for the 3Q ended Sept, representing a 2% decline from earnings of $80.1 million a year ago due to lower dividends received from its overseas subsidiary, Cabcharge Australia.

Revenue for the quarter grew 8.5% on-year to $967.9 million from $891.7 million, driven by increased contributions from new acquisitions.

Why Moya is still a solid 'buy' despite target price cut, according to RHB

SINGAPORE (Nov 8): RHB Research is maintaining its “buy” call on Moya Holdings Asia, with a lower target price of 11 cents compared to 15 cents previously to factor in further depreciation of the IDR as well as macroeconomic uncertainty.

In a Monday report, analyst Jarick Seet says he continues to see strong organic growth for Moya based on its latest set of 3Q earnings which reflected lower financing costs, concessions and recovery of its non-revenue segment.

OUE Hospitality Trust posts 5.9% lower 3Q DPS on lower revenue & absence of income support

SINGAPORE (Nov 7): The manager of OUE Hospitality Trust (OUE HT) has announced a 3Q18 distribution per stapled security (DPS) of 1.28 cents, down 5.9% from its 1.36 cent DPS a year ago.

The lower distributable income of $23.3 million, which is 5.4% down from the previous year’s distributable income of $24.7 million, was largely due to the absence of income support for Crowne Plaza Changi Airport (CPCA) hotel as it was fully drawn down as at 3Q17.

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