This article was originally published on Wednesday, 20 February 2019 at 12:55 A.M. SGT; it has since been updated to add Sembcorp Marine, Great Eastern and CapitaLand.
These are Singapore companies which may be in focus on Wednesday, 20 February 2019:
CapitaLand reported on Wednesday fourth quarter net profit increased 71.2 percent on-year to S$475.65 million on better operating performance, higher gains from asset sales and the revaluation of its investment properties. The results beat some analyst forecasts.
Sembcorp Marine reported on Wednesday its fourth quarter net profit dropped 94.9 to S$5.93 million, beating Daiwa’s forecast for a net loss.
Great Eastern reported on Wednesday its fourth quarter net profit fell 68 percent on-year to S$136.9 million amid lower valuations for investments due to market volatility in the period.
Iconic Singapore bun maker BreadTalk reported on Tuesday its 2018 net profit dropped 29.9 percent on-year to S$15.2 million on a year-earlier one-off gain and a decline in the Bakery division, partially offset by growth from the Food Atrium and Restaurant divisions.
Keppel Infrastructure Trust
Keppel Infrastructure Trust said on Tuesday that it completed the acquisition of all of Ixom HoldCo, an industrial infrastructure business in Australia and New Zealand which supplies water-treatment chemicals.
“The addition of Ixom to KIT’s portfolio is complementary and enhances the stability of the distributions for our unitholders over the long term. Ixom enjoys a leading position in its markets, and its growth is supported by strong industry fundamentals,” Matthew Pollard, CEO of Keppel Infrastructure Fund Management, the trust’s manager, said in the statement.
The acquisition increased KIT’s portfolio to S$5.2 billion in late January from S$3.8 billion at end-December, the filing to SGX after the market close on Tuesday said.
Nojima Asia Pacific, a subsidiary of Nojima Corp., will not be increasing the offer price for its takeover bid for Courts Asia from S$0.205 a share in cash, it said in a filing to SGX after the market close on Tuesday.
The offer, which is no longer allowed to be amended, will close on 15 March, and Nojima Asia Pacific “has no intention of extending the offer” beyond that date, the filing said.
Kingsmen Creatives reported on Tuesday its 2018 net profit dropped 16.3 percent on-year to S$8.15 million, despite higher revenue, as expenses rose.