This article was originally published on Thursday, 1 August 2019 at 12:42 A.M. SGT; it has since been updated to add Great Eastern, PSA International and Roxy-Pacific Holdings.
These are Singapore stocks which may be in focus on Thursday, 1 August 2019:
Singapore Airlines reported Wednesday its fiscal first quarter net profit dropped 20.7 percent on-year to S$111 million on higher estimated losses from Virgin Australia.
Singapore Exchange reported Wednesday its net profit for the full fiscal year rose 7.7 percent on-year to S$391.10 million, its highest in 11 years, mainly due to a strong derivatives business performance.
S&P Global Ratings revised Wednesday. the ratings outlook for Singapore Telecommunications and Singtel Optus to negative from stable, citing deteriorating debt metrics.
Great Eastern reported Thursday its second quarter net profit dropped 29 percent on-year to S$169 million on lower non-operating profit and lower profit from the shareholders’ fund.
Troubled water infrastructure player Hyflux said Wednesday that it was continuing to hold talks with potential strategic investors and stakeholders for an investment, with a view to entering a binding agreement.
In a filing to SGX, Hyflux referenced previous announcements that it has received a non-binding letter of intent from Oyster Bay Fund and its July statement that it was working toward a deal for Utico to take an 88 percent stake in the company.
Stamford Land reported Wednesday its fiscal first quarter net profit dropped 71.6 percent on-year to S$4.84 million on a drop in property development earnings and a weaker Australian dollar.
PSA International has acquired Halterm Container Terminal in the Port of Halifax, Canada, from Macquarie Infrastructure Partners, after receiving regulatory approval, the port operator said in a filing to SGX Thursday.
Soilbuild Construction reported Wednesday it swung to a second quarter net loss of S$938,000 from a year-ago net profit of S$525,000 on higher non-cash depreciation charges and higher interest expenses.
Global Palm Resources
Global Palm Resources warned Wednesday it expects to report a net loss for the second quarter, mainly on a drop in the sales volume and average selling price of crude palm oil and on a lower average selling price of palm kernel.
No Signboard Holdings
No Signboard Holdings, an iconic Singapore chili crab restaurateur, warned Wednesday it expected to report a net loss for its fiscal third quarter.
KSH, Heeton and Lian Beng
A joint venture between Heeton Holdings, KSH Holdings and Lian Beng Group has acquired a 67 percent stake in a Brisbane, Australia, property for A$5.5 million, or around S$5.23 million, from Marvel Investments, the companies said in filings to SGX Wednesday.
Roxy-Pacific Holdings reported Wednesday its second quarter net profit fell 16 percent on-year to S$4.21 million as cost of sales increased more than revenue as the contribution from the lower-margin property development segment increased.
Revenue for the second quarter rose 39 percent on-year to S$51.38 million on higher contributions from the property development segment, partly offset by lower revenue from the hotel ownership and property investment segments, Roxy-Pacific said in a filing to SGX.
Roxy-Pacific declared a dividend of 0.195 Singapore cents a share, unchanged on-year.
SunMoon Food reported Wednesday a fiscal first quarter profit of S$104,000, down 83 percent on-year from S$603,000 due to a year-ago profit from discontinued operations of S$1.44 million and as selling and distribution expenses fell on cost-reduction measures.
Revenue for the quarter ended 30 June dropped 66 percent on-year to S$5.4 million, mainly on the new work plan to focus efforts on certain fruit products, the company said in a filing to SGX.
“The operating environment remains challenging and competitive. The group will continue to focus on its value added fresh fruit products in China and South East Asia and expand our agri-food offerings,” SunMoon Food said.
In its outlook, the company said it expected revenue for the full fiscal year would rise on-year, operating results would be at breakeven and that it would work to increase its brand name exposure.
MindChamps PreSchool said Wednesday it completed the acquisition of MindChamps PreSchool @ Buangkok, with S$646,000 of IPO proceeds used to partially fund the acquisition.
The remainder was financed via an acquisition loan, the school operator said in a filing to SGX.
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