FY17 results

Ascendas REIT posts 1.5% increase in 4Q DPU to 3.91 cents

SINGAPORE (Apr 23): The manager of Ascendas REIT (AREIT) has declared a 4Q18 DPU of 3.91 cents, 1.5% higher compared to the 4Q17 DPU of 3.852 cents.

This brings FY18 DPU to 15.988 cents, 1.6% higher than 15.743 cents in FY17.

Gross revenue for the quarter increased by 3.3% to $215.7 million from $208.9 million in the previous year.

8Telecom narrows FY17 losses to $1.51 mil

SINGAPORE (Mar 15): 8Telecom International Holdings, the manufacturer and supplier of telecommunications products, announced that it has narrowed its FY17 losses to $1.51 million compared to $27.4 million in FY16.

Revenue for the full year ended Dec 2017 saw a significant jump to $727,000 compared to $11,000 a year ago, due to the increased projects secured by the group’s subsidiary Arete M.

Other operating income also saw a notable increase to $128,000 from $10,000 last year.

Selling expenses dropped 67% to $57,000 compared to $177,000 in the previous year.

Golden Energy and Resources reports near-trebling of FY17 earnings to US$63 mil

SINGAPORE (Mar 9): Golden Energy and Resources (GEAR) saw its full-year earnings nearly treble to US$63.0 million ($82.9 million) for the FY17 ended December, from US$22.0 million a year ago.

FY17 revenue almost doubled to an all-time high of US$763.8 million, from US$393.3 million a year ago.

The increase was on the back of robust sales momentum from the group’s Coal Mining and Coal Trading divisions.

Hongkong Land posts 67% increase in FY17 earnings to US$5.6 bil on fair value of investment properties

SINGAPORE (Mar 8): Hongkong Land Holdings, the property group which is a member of the Jardine group, announced FY17 earnings increased by 67% to US$5.6 billion ($7.37 billion) compared to US$3.35 billion in FY16.

Revenue for the full year ended Dec 2017 was US$1.96 billion, 1.5% lower than US$1.99 billion in the previous year.

But the group saw an 83.5% increase in change in fair value of investment properties of US$4.68 billion from US$2.55 billion last year.

Attractive valuations keep China Jinjiang at 'add' despite earnings miss

SINGAPORE (Mar 8): CIMB is reiterating its “add” recommendation on China Jinjiang Environment Holdings (CJE) with a lower target price of 85 cents.

This came after the group reported a 10.5% rise in 4Q17 earnings to RMB 204.7 million ($43 million) from a year ago, bringing FY17 earnings to 0.6% higher at RMB 201.2 million, which was short of the research house’s forecast by 12%.

The miss was due to low waste-to-energy (WTE) gross margin from high coal prices, higher than expected finance costs and lower than expected quantity of waste processed.

Ho Bee's stable recurring income and undervalued luxury properties keep it at 'buy'

SINGAPORE (Mar 5): Phillip Capital is maintaining its “accumulate” call on Ho Bee Land with a target price of $2.98.

This comes on the back of the group announcing on Feb 28 that its 4Q earnings have dropped by 20.9% y-o-y to $102.4 million, while FY17 earnings were 15% higher y-o-y at $249.3 million.

See: Ho Bee Land posts 20.9% drop in 4Q earnings to $102.4 mil

Shanghai Pudong to drive China Aviation Oil's earnings growth

SINGAPORE (Mar 2): Phillip Capital is reiterating its “buy” recommendation on China Aviation Oil (CAO) with a target price of $2.00.

The group on Wednesday reported 4Q17 earnings fell 21.7% y-o-y to US$14 million ($18.5 million), bringing FY17 earnings to US$85.3 million.

Revenue during the quarter increased by 24% to US$4.06 billion although trading volume dropped 0.6% y-o-y to 8.20 million tonnes.

SAC's rating on Advancer Global unchanged before meeting with management

SINGAPORE (Mar 2): SAC Advisors is keeping its “buy” rating on Advancer Global with a target price of 36 cents.

The group on Thursday announced full-year earnings rose 14.2% to $3.1 million in FY17 from $2.7 million in FY16.

See: Advancer Global posts 14.2% rise in FY17 earnings to $3.1 mil

Record FY17 for Singapore Medical Group with FY18 expected to be stronger

SINGAPORE (Mar 2): RHB is maintaining its “buy” call on Singapore Medical Group (SMG) with a target price of 68 cents, as the group’s turnaround is further validated by organic and inorganic growth.

This came on the back of the group announcing that its FY17 earnings surged 250.8% to a record $8.5 million from $2.42 million in FY16.

See: Singapore Medical Group FY17 earnings surge 250.8% to $8.5 mil on higher revenue

Top Global swings out of the red in 4Q on revenue surge

SINGAPORE (Mar 2): Top Global reversed out of the red with earnings of $1.4 million in the 4Q ended December, compared to losses of $11.3 million in the corresponding quarter last year.

For the full year, Top Global’s losses narrowed to $1.9 million in FY17, from losses of $14.0 million a year ago.

4Q revenue surged 79% to $41.1 million, from $23.0 million a year ago.

The increase was led by higher revenue from property development due to increased sales from its Braddell project.

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