Tiong Woon FY19 earnings flat at $2.8 million as expenses rise in tandem with revenue

SINGAPORE (Aug 28): Tiong Woon Corp reported FY19 earnings of $2.79 million, down 1% from FY18.

Revenue for the year rose 20% to $117 million from a year ago. This was led by a 16% increase in revenue from the heavy lift and haulage segment to $105.8 million from $91.2 million a year ago.

The marine transportation segment saw revenue increase 48% due to more chartering jobs while revenue from the trading segment doubled on the back of more equipment sold in FY19.

ISOTeam swings back into the black in 4Q19 on higher sales

SINGAPORE (Aug 28): ISOTeam, the building maintenance and housing estate upgrading company, posted 4Q19 ended June earnings of $2.9 million, reversing from a loss of $1.86 million a year ago in 4Q18.  

This brings FY19 earnings to $6.8 million, a 14-fold increase from $0.5 million in FY18.

Earnings per share for the year came in at 2.37 cents, up from 0.17 cents the previous year.

FY19 revenue increased 63% to $136.6 million from $83.8 million last year due to a significant increase in revenue contributions across all business segments.

ValueMax posts 58% increase in 2Q earnings to $6.7 mil on lower operating expenses

SINGAPORE (Aug 14): ValueMax reported earnings of $6.7 million for 2Q19 ended June, a 57.8% increase from $4.2 million in 2Q18 last year, on the back of lower operating expenses.

Revenue for 2Q19 rose 0.7% to $55.4 million from $55.0 million a year ago. Cost of sales fell 3.1% to $41.9 million.

Segmentally, revenue from retail and trading of jewellery and gold business and moneylending segments increased by $0.1 million and $0.6 million respectively, but was offset by a $0.3 million decrease in revenue from the pawnbroking segment.

Frencken continues to outperform amid challenging quarter for manufacturing sector

SINGAPORE (Aug 13): Technology solutions provider Frencken Group has emerged one of the rare manufacturing companies that delivered growth in 2Q19, even as many of its peers in the manufacturing sector companies saw their profits tumble amid geopolitical tensions and a slowing economy.

Earnings for the 2Q19 ended June came in at $11.1 million, a significant 58.7% hike from $7.0 million in the same quarter last year.

2Q19 revenue increased by 11.5% to $164.3 million, from $147.4 million a year ago, spearheaded by a 16.7% growth in revenue from the Mechatronics Division.

Secura Group reverses into the red in 2Q on competition, damages and absence of one-off

SINGAPORE (Aug 1): Secura Group reversed into the red in the 2Q ended June as the security solutions provider reported a loss of $0.23 million compared to a profit of $0.59 million a year ago.

As forewarned by the group earlier, the loss was primarily due to price pressure from system integration projects, increase in liquidated damages for the security guarding segment due to shortage of manpower as well as the absence of one-off sales from the high margin digital forensic segment in 2Q18.

Singapore SMEs are region's top exporters thanks to its 'thriving digital economy', finds study

SINGAPORE (Aug 1): Singapore’s small- and medium-sized enterprises (SMEs) are playing a leading role in driving export in Asia Pacific, according to the latest study commissioned by FedEx Express.

Titled Global is the New Local: The Changing International Trade Patterns of Small Businesses in Asia Pacific, the independent research was conducted by Harris Interactive on behalf of the express transportation company to offer insights into import and export opportunities as well as challenges faced by SMEs.

World Class Global reports $69.9 mil in sales revenue so far from AVANT residential units

SINGAPORE (Mar 27): World Class Global (WCG), the property arm of Aspial Corporation, says it has received net sales proceeds totalling A$69.0 million ($69.9 million), following the settlements by purchasers of 134 completed residential units.

The units account for 66% of the total 203 completed residential units in AVANT that have been handed over in end-Feb this year.

AVANT is a 56-storey freehold residential tower that is located in Melbourne’s central business district (CBD).

EY posts US$31 bil in FY17 global revenue with highest growth rate from Asia Pacific

SINGAPORE (Sept 5): EY, the multinational professional services firm, posted a 7.8% growth in combined global revenues to US$31.4 billion ($42.6 billion) for the full year ended June from a year ago.

The topline was buoyed by higher revenue contributions across all four of the group’s service lines, namely: Assurance (4%), Advisory (10.4%), Tax (7.9%), and Transaction Advisory Services (15.5%).

In a press release on Tuesday, EY says the latest set of results marks its seventh straight year of strong growth.

Skies remain overcast for M1

SINGAPORE (Jan 13): CIMB Securities continues to keep its “hold” call on M1 Limited, Singapore’s smallest telco, as it lowers the stock’s target price estimate to $1.90 from $2.10 previously.

In a Wednesday report, analyst Foong Choong Chen projects M1 to post flat service revenue in FY17F, with mobile revenues falling 1.8% mainly due to lower international roaming/voice usage contributions in addition to negative effects from the previous year’s SIM-only plans and some downtrading activities.

Samsung Electronics forecasts fourth-quarter profit at over three-year high

Samsung Galaxy Note 7

SEOUL (Jan 6): Samsung Electronics Co Ltd said on Friday its fourth-quarter profit likely leapt 50% from a year earlier to its highest level in more than three years, beating expectations on strong chip sales and a smartphone rebound.

The upbeat outlook comes despite a slight fall in revenue and the anticipated US$2.1 billion ($3 billion) profit hit from the withdrawal of the fire-prone Galaxy Note 7 premium smartphone in October.


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