Singapore stocks to watch Thursday: Singapore Airlines, KSH, Aspial, Sri Trang Agro

Singapore Airlines boarding gate; July 2018Singapore Airlines boarding gate; July 2018

These are the Singapore stocks likely in focus for Thursday 16 August 2018:

Singapore Airlines

Singapore Airlines said on Wednesday that its group passenger load factor (PLF) in July improved 2.3 percentage points to 85.9 percent, while passenger carriage, measured in revenue passenger kilometers, increased 8.4 percent on-year, faster than the capacity injection increase of 5.5 percent.

Among the brands, Singapore Airlines’ PLF improved 2.2 percentage points to 86.2 percent in July, with improvement in all regions amid strong seasonal demand over the summer, while passenger carriage increased 4.9 percent on-year, outpacing a 2.2 percent capacity increase, it said in a filing to SGX after the market close on Wednesday.

SilkAir’s PLF increased 0.2 percentage points to 76.8 percent in July boosted by the South West Pacific and Southeast Asia regions, with passenger carriage up 3.7 percent, compared with capacity growth of 3.4 percent, it said. “Growth in passenger demand in North Asia and West Asia lagged behind capacity injection,” it said.

Scoot’s PLF rose by 3.1 percentage points to 87.7 percent in July, with passenger carriage rising 24.1 percent, faster than capacity expansion of 19.7 percent, it said.

“PLF in all route regions improved as demand outpaced changes in capacity. Selected routes to North Asia, India, Thailand and Australia continued to improve. During the month, Scoot commenced new services to Nanchang, China,” it said.

The overall cargo load factor (CLF) was 0.9 percentage point lower, with cargo traffic (measured in freight-tonne-kilometers) declining 1.4 percent against flat capacity, Singapore Airlines said.

KSH Holdings

KSH Holdings said on Wednesday it acquired the Smile Hotel Asakusa in Tokyo, Japan, jointly with Heeton Holdings, taking stakes of 70 percent and 30 percent respectively.

The hotel, which is the second the two companies have acquired in Japan, has 10 stories and 96 bedrooms, and is located in a district known for numerous Shinto festivals and is close to the Asakusa metro/train station, KSH said in a filing to SGX after the market close on Wednesday.

The hotel will continue to operate under the Smile Hotel brand and the same operator will manage it , it said.

The consideration paid wasn’t provided.

Aspial Corp.

Aspial Corp. said on Thursday that it would like to repurchase up to S$10 million in aggregate principal of its notes in cash, together with accrued interest.

The proposed repurchase will begin on 16 August and end on 30 August, it said in a filing to SGX before the market open on Thursday.

DBS Bank is acting as the buy-back agent, it said.

If the amount of notes tendered for repurchase exceeds the cap, Aspial may, at its sole discretion, determine which noteholders it will repurchase from and the amount it will purchase, the filing said.

Sri Trang Agro-Industry

Sri Trang Agro-Industry reported on Wednesday after the market close that for the second quarter, it swung to a profit after tax of 609.95 million baht on a consolidated basis, compared with a year-earlier loss of 2.09 billion baht.

Profit attributable to the owners of the company was 591.93 million baht, swinging from a year-earlier loss of 2.08 billion baht on a consolidated basis, Sri Trang Agro said in a filing to SGX after the market close on Wednesday.

Revenue for the quarter ended 30 June fell 13.6 percent on-year to 19.75 billion baht on a consolidated basis, it said.


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