This article was originally published on Wednesday, 20 February 2019 at 22:12; it has since been updated to include City Developments, ST Engineering, Sembcorp Industries, Keppel DC REIT, Addvalue Technologies, China Everbright Water, PropNex Realty and Asiaphos.
These are Singapore companies which may be in focus on Thursday, 21 February 2019:
Sembcorp Industries reported on Thursday its fourth quarter net profit fell 10 percent on-year to S$106 million as its India operations turned around to profitability and the urban development business posted a record net profit. The results beat some analysts’ forecasts.
City Developments reported its fourth quarter net profit dropped 54.7 percent on-year to S$77.95 million on hotel impairments and as revenue dropped on the year-earlier contribution from the Brownstone executive condominium project.
The results missed some analysts’ forecasts.
ST Engineering reported on Thursday that its fourth quarter net profit dropped 26 percent on-year to S$124.5 million as aerospace revenue fell and on costs related to its MRAS acquisition.
Keppel Offshore & Marine’s wholly owned subsidiary Keppel FELS delivered a jackup rig, called Cantarell IV, to Grupo R, which will sell it to FELS Asset and then lease it back, it said in a filing to SGX after the market close on Wednesday.
Keppel DC REIT
Keppel DC REIT said on Wednesday it priced 50 million euros (S$76.63 million or US$56.70 million) of floating rate notes due 2026, to be issued as series 002 under its S$500 million multicurrency medium term note program.
China Everbright Water
China Everbright Water reported on Wednesday its 2018 net profit increased 32 percent on-year to HK$676.46 million (S$116.50 million or US$86.18 million) amid higher construction revenue.
BreadTalk said on Wednesday it entered a deal to acquire the 50 percent of BTM (Thailand) it doesn’t already own from Minor Food Group for 160 million Thai baht (S$6.96 million). The deal pricing took into consideration the BTM (Thailand)’s unaudited net book value of 214.97 million baht, it said in a filing to SGX on Wednesday.
Addvalue Technologies said on Wednesday its wholly owned subsidiary Addvalue Innovation set a design contract with Avionica to jointly develop a new Swift Broadbank (SBB) terminals to provide real-time flight data services to the aviation market.
Avionica specializes in miniaturized aircraft data collection and wireless data transmission equipment, it said in a filing to SGX after the market close on Wednesday.
“Under the contract, Addvalue will develop the main components of the satellite connectivity while Avionica will develop the avionic components of the system and be responsible for the system integration and project management for the FAA certification process,” it said. FAA stands for U.S. Federal Aviation Administration.
PropNex Realty and China Real Estate Group
PropNex Realty said on Wednesday it entered a tie-up for China Real Estate Group’s (CREG) subsidiary Global Alliance Property (GAP) to transfer its salespeople to PropNex and then discontinue its real-estate agency business.
GAP has been operating under the Century 21 franchise, it said.
CREG will continue its efforts on real estate development in China, it said in a filing to SGX after the market close on Wednesday.
Asiaphos warned on Wednesday that it expected its net loss for the fourth quarter and the full year would widen from the year earlier periods.
“The main reasons for the higher loss were due to lower revenues and the recognition of impairment losses on its property, plant and equipment at its factory,” it said in a filing to SGX after the market close on Wednesday.
TEE International said on Wednesday that its proposed rights issue received valid acceptances and excess applications for a total of 144.93 million rights shares, or around 75.98 percent of the total number of rights shares available.
The offering was at an issue price of S$0.10 per rights share, on the basis of 38 rights shares for every 100 existing shares, it said.
Up to 80 percent of the net proceeds of around S$14.29 million were earmarked to fund expansion and growth of existing businesses, acquisitions and new investments, with up to 20 percent for general working capital, it said in a filing to SGX after the market close on Wednesday.
Spackman Entertainment Group
South Korean film producer Spackman Entertainment said on Wednesday it tapped John Ko, age 44, as its new CEO, effective immediately.
Pawn-shop operator ValueMax reported on Wednesday its 2018 net profit rose 6.3 percent on-year to S$20.29 million as pawnbroking and moneylending revenue increased.