Duty Free International

Winners and losers from Singapore's budget as election looms

SINGAPORE (Feb 19): Singapore Finance Minister Heng Swee Keat boosted health-care and military spending, gave tax rebates to citizens and tightened rules on foreign workers ahead of an election that could come as early as this year.

Heng announced a new $8 billion support package for seniors in his budget speech on Monday, as well as measures to help local businesses adopt new technologies. The expansionary fiscal plan will push the overall budget deficit to 0.7% of gross domestic product in the year ending March 2020, from a revised surplus of 0.4% this year.

Duty Free posts 12.6% fall in 2Q earnings to $4.1 mil on lower sales

SINGAPORE (Oct 10): Duty Free International (DFI) reported 2Q19 earnings fell 12.6% to RM12.3 million ($4.09 million), compared to RM14.1 million in 2Q18.

This brings 1H19 earnings to RM21.3 million, 26.7% lower than RM29.1 million in 1H19.

Revenue for the quarter was 21.8% lower at RM114.4 million from RM126.3 million last year, largely due to lower availability of certain popular products for sale.

Duty Free posts 1.6% increase in 2Q earnings to $4.5 mil

SINGAPORE (Oct 11): Duty Free International (DFI) announced that its 2Q18 earnings increased 1.6% to RM14.1 million ($4.53 million) from RM13.8 million in 2Q17.

Revenue for the three months ended August dropped 5.5% to RM148.3 million compared to RM157.0 million the previous year.

This was due to lower demand from customers in certain products following the implementation of Goods and Services Tax at border outlets and duty free zones from Jan 1.

Yeo Hiap Seng, Hong Leong Finance, Duty Free International, Advance SCT, Rowsley

SINGAPORE (April 27): Here are some stocks to watch this Thursday morning:

F&B and property group Yeo Hiap Seng reported 1Q earnings of nearly $139 million compared to $6.5 million a year ago. This was mainly due to gain on disposal of investment in Super Group of $138.4 million. Shares of Yeo Hiap Seng closed at $1.37 on Wednesday before the announcement.

Duty Free International 4Q earnings down 15% to $5.7 mil

SINGPAPORE (April 26): Duty Free International posted a 14.9% drop in earnings to RM17.8 million ($5.7 million) for the fourth quarter ended Feb 28, from RM20.9 million a year ago.

This brings full-year earnings to RM72.7 million, a 17.8% increase from earnings of RM61.7 a year ago.

Revenue in 4Q fell 7.4% to RM150.0 million, from RM162.0 million in the corresponding quarter a year ago.

4 investment themes to navigate a growth-challenged 1H17

SINGAPORE (Jan 3): UOB Kay Hian is flagging growth headwinds and external risks in what it calls a growth-challenged year ahead, and therefore recommends positioning defensively on elevated volatility and an uncertain macro outlook.

Although the research house has forecast overall 2017 earnings per share (EPS) to grow 10.5% on year to be led by the plantation, aviation and telecommunication sectors, it maintains top-line will remain under pressure along with “stubbornly high” costs.

Duty Free Int'l an attractive counter to check out

SINGAPORE (Oct 13): Duty Free International (DFI) 1H17 results that has spurred research houses CIMB and UOB Kay Hian to maintain “buy” ratings of the counter with target prices of 61 cents and 57 cents respectively.

(See also: Duty Free International’s 2Q earnings up 45% to $4.5 mil)

SPH, DeClout, Duty Free, Top Glove, SB REIT, TEE Int’l

SINGAPORE (Oct 13): Here are some factors and stocks that could move the market this Thursday morning:

Singapore Press Holdings, Southeast Asia’s biggest newspaper publisher by market value, plans to merge two of its tabloids to form a new free-distribution publication as part of a restructuring effort, Bloomberg reported. The publisher is planning to merge The New Paper and My Paper and the company also plans to cut 5% to 10% of its workforce, mostly part-time workers. SPH closed 4 cents lower at $3.74.

Duty Free International’s 2Q earnings up 45% to $4.5 mil

SINGAPORE (Oct 12): Duty Free International, the largest multi-channel duty free and duty paid retail group in Malaysia with more than 40 retail outlets, saw 2Q17 earnings rise 45.3% to RM13.8 million ($4.5 million) from a year ago. On a half-year basis, earnings rose 40.4% to RM33.7 million.

Keppel T&T and Duty Free are UOB’s new Alphas for Oct

SINGAPORE (Oct 3): UOB Kay Hian has new conviction picks for its Alpha list for Oct, Keppel Telecommunications and Transport (Keppel T&T) and Duty Free International, both of which its analysts started coverage in Sept.

Meantime, Frasers Logistics and Industrial Trust (FLT) and Singapore O&G have been dropped from the list. FLT target price has less than 10% upside while Singapore O&G is expected to consolidate at current levels post 1H16 results.

Here are UOB’s “buys” for the month of October:

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