manufacturing

MTI foresees slower 2H for Singapore's economy; maintains 2018 GDP growth forecast at 2.5-3.5%

SINGAPORE (Aug 13): The Ministry of Trade and Industry (MTI) expects Singapore’s economic pace of expansion to moderate in 2H18 against an external backdrop of a weakening global growth outlook, as well as increased uncertainties and risks in the global economy.

This comes even as MTI maintains its GDP growth forecast for 2018 at 2.5-3.5%, highlighting the “strong performance” of the Singapore economy in the first half of the year.

Thakral Corp's 1H18 earnings rise 50% to $4 mil on higher revenue

SINGAPORE (Aug 2): Thakral Corporation reported a 50% rise in 1H18 earnings to $4 million compared to its earnings of $2.7 million a year ago. This came on the back of strong revenue growth from both its core businesses, investment and lifestyle.  

For the 2Q ended June, Thakral posted $1.7 million in earnings, up 45% from $1.2 million in 2Q17.

Revenue for 1H18 grew 18% to $84.1 million from $71.4 million in the previous year.

Local manufacturing firms increasingly optimistic amid ongoing trade war: EDB survey

SINGAPORE (July 31): Positive business sentiment is on the uptrend among Singapore's manufacturers even with the ongoing US-China trade war, according to the Economic Development Board’s (EDB) Survey of Business Expectations of the Manufacturing Sector for 3Q18.

Compared to the EDB’s findings over 2Q, a net weighted balance of 5% of Singapore’s manufacturers are expecting output to increase in 3Q, with all clusters – save for chemicals – projecting higher output levels within the next three months.

Sino Grandness rolls out own-branded products in Meiyijia, Meiyiduo outlets across China

SINGAPORE (June 29): Sino Grandness Food Industry Group has expanded its distribution network further in the China market with its own-branded products, namely across Meiyijia convenience stores and Meiyiduo supermarkets in China.

The products comprise Sino Grandness’ Garden Fresh juices, Grandness canned fruits, and First snack products.

Meiyijia convenience stores are managed by Dongguan Sugar & Alcohol Group Holding. As at May 2018, the chain has more than 15 million online customers with over 13,000 stores across 13 provinces and 68 cities across China.

This undervalued chemical player is a proxy to global economic growth, says SAC Advisors

SINGAPORE (June 26): SAC Advisors is starting coverage on Megachem at “buy” with a target price of 50 cents, which translates into 14.9 times FY19P/E to imply a 26% discount to the sector average.

In an initiation report on Tuesday, analyst Eing Kar Mei highlights the speciality chemicals provider as a proxy to the stronger global economy with an attractive dividend yield of 4.8-5.7%.

Robots still missing from the largest part of Japan’s economy

TOKYO (June 22): Japan is famous as a land of robots, but most of those machines haven’t made their way off of factory floors.

That presents an opportunity in a country with a serious labor shortage and a relatively unproductive services sector. Automation is seen as a key to better productivity and higher wages, which would in turn support consumption and help push inflation closer to the Bank of Japan’s 2% target.

Spindex sells industrial property to JTC Corp for $3.7 mil

SINGAPORE (June 4): Spindex Industries is surrendering its lease at its industrial property at 6 Neythal Road, which is located in the Jurong West region of Singapore, to JTC Corporation for $3.7 million after accounting for reinstatement costs. 

The property’s market value is $4.07 million. Spindex says the consideration sum was arrived at in view of general market conditions, and that no other offer was made in the last 18 months despite it being actively marketed.

Yongmao Holdings swings to 4Q loss on higher expenses, lower margins

SINGAPORE (May 30): Tower crane manufacturer Yongmao Holdings posted a loss of RMB2.3 million ($0.5 million) for the quarter ended March, compared to earnings of RMB5.7 million in 4Q17, due to higher expenses and lower margins.  

This brings the group’s earnings for FY18 to RMB20.6 million, down 26.7% from RMB28.1 million a year ago.

A first and final dividend of 1 cent per share has been declared for the financial year under review.

This meteoric tech stock has come crashing back to earth

SINGAPORE (May 9): After a spectacular rise for two years, Singapore’s biggest technology company is suddenly returning to earth.

All eyes in the country’s financial community have been on Venture Corp., an electronics stock that more than tripled since April 2016 to become -- at one point -- a US$6.5 billion firm. So meteoric was its advance that Venture became the only technology company listed on Singapore’s blue-chip 30-member Straits Times Index.

Khong Guan 1H earnings up eightfold at $0.8 mil on lower costs & expenses

SINGAPORE (Mar 14): Biscuit manufacturer Khong Guan reported 1H18 earnings of $0.8 million for the half year ended Jan 2018, up eightfold from $95,000 a year ago on lower costs and other expenses.

Revenue grew 0.25% to $28.8 million from $28.7 million in 1H17, with the modest increase attributed to an improvement in the turnover of the group’s Swee Hin Chan (SHC) operations in Penang.

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