4Q18

SingPost sinks into $75.1 mil loss in 4Q due to US business impairment charges & exceptional items

SINGAPORE (May 7): Singapore Post (SingPost) reversed into the red for the 4Q ended March, posting a loss of $75.1 million from earnings of $31.8 million a year ago due to impairment charges in exceptional items.

This also brings FY18/19 earnings to $19 million, down 86% from FY17/18  due to impairment charges of $98.7 million from its US businesses.

OCBC cuts FY19 estimates for Yanlord, cautious on high gearing & volatile market conditions

SINGAPORE (Mar 1): OCBC Investment Research is maintaining its “buy” call on Yanlord Land Group with a lower fair value of $1.75 compared to $2.04 previously, after rolling forward valuations and applying an unchanged P/E target peg of 5 times to core FY19 EPS forecasts.

More earnings drivers required for China Aviation Oil to be a 'buy', says RHB

SINGAPORE (Mar 1): RHB Research is remaining “neutral” on China Aviation Oil (CAO) after the group reported FY18 earnings of US$94 million ($127 million), up 10% y-o-y and coming in slightly ahead of RHB and consensus estimates on better-than-expected gross profit margin.

The research house has raised its target price on the stock to $1.50 from $1.32 previously as it rolls over its blended valuation to 2019, which implies 9% upside and 4% FY19F yield.

Hyphens Pharma 4Q earnings grow 31.9% to $0.8 mil in absence of one-off IPO expenses

SINGAPORE (Mar 1): Hyphens Pharma International has announced earnings of $0.8 million for the 4Q ended Dec 2018, rising 31.9% from $0.6 million in 4Q17 in the absence of one-off IPO expenses incurred from the year before.  

Excluding the impact of these one-off expenses, the group’s earnings would have increased 33% to $1.2 million from $0.9 million a year ago.

This brings the group’s full-year earnings to $5.4 million, down 11.1% from its earnings of $6.1 million a year ago.

Straco Corp posts 0.4% lower 4Q earnings of $6 mil; announces special & final dividend

SINGAPORE (Feb 28): Straco Corporation saw a marginal 0.4% y-o-y dip in 4Q18 earnings to $6.04 million from $6.07 million a year ago, as lower revenue for the quarter was offset by lower expenses compared to the corresponding period.

For the FY18 ended Dec 2018, the group reported 12.4% lower earnings of $41.8 million compared to $47.7 million for FY17.

IndoAgri sinks into the red with $20 mil loss for 4Q on weak commodity prices

SINGAPORE (Feb 28): Indofood Agri Resources (IndoAgri) has sunk into a loss of Rp 211.7 billion ($20 million) for 4Q18 compared to Rp 76.9 billion in profit a year ago, due to significantly lower profit in the Plantation Division arising from weak commodity prices.

As such, the group has reported Rp 211.8 billion in overall losses for FY18, as opposed to earnings of Rp 447.3 million for the previous year.

Revenue for 4Q rose 6.5% to Rp 3.8 trillion from Rp 3.6 trillion in 4Q17, due to sales growth in the Edible Oils and Fats (EOF) Division.

Nam Cheong swings back to profitability for FY18 after debt restructuring

SINGAPORE (Feb 27): Nam Cheong announced earnings of RM9.7 million for the 4Q ended Dec 2018, reversing from its loss of RM987.5 million in 4Q17 mainly a result of a waiver of debts.

With the latest set of quarterly results, the group has returned to profitability in FY18 with RM963.3 million in earnings as opposed to a RM3 billion loss for the previous year.

Sembcorp reports 10% lower 4Q earnings of $106 mil; proposes 2 cents final dividend

SINGAPORE (Feb 21): Sembcorp Industries reported earnings of $106 million for the 4Q ended Dec 2018, representing a 10% decline from restated 4Q17 earnings of $118 million as the Marine segment continued to impact the absorption of overhead costs.

This brings Sembcorp’s FY18 earnings to $347 million, down 9% from restated earnings of $383 million a year ago.

Over 4Q, the group recorded a 7% rise in turnover to $2.6 billion from $2.4 billion the previous year, driven by higher contributions from the Utilities businesses.

Genting Singapore sees 4Q earnings rise 12% to $150 mil on higher visitors, hotel occupancy

SINGAPORE (Feb 21): Genting Singapore (GENS) announced earnings of $150.2 million for the 4Q ended Dec 2018, rising 12% y-o-y from its earnings of $134 million in 4Q17 due to higher revenue.

This brings the group’s earnings for the full year to $755.4 million, up 10% from $685.6 million in the previous year.

It's onward and upward for CapitaLand going into FY19, say analysts

SINGAPORE (Feb 21): CGS-CIMB Research, DBS Vickers Securities and OCBC Investment Research are maintaining “buy” on CapitaLand with the respective price targets of $3.56, $3.62 and $3.98, after the group posted 71.2% higher earnings of $476 million for the 4Q ended Dec 2018.

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