This article was originally published on Monday, 5 August, 2019 at 22:07 SGT; it has since been updated to include Sasseur REIT and Addvalue.
These are Singapore companies which may be in focus on Tuesday, 6 August 2019:
Yangzijiang Shipbuilding reported Monday its second quarter net profit fell 6 percent on-year to 936.43 million yuan (S$183.79 million or US$132.94 million), with the shipbuilder attributing the decline to an “exceptionally strong” year-ago performance.
Yangzijiang Shipbuilding said Monday that Jiangsu Yangzi-Mitsui Shipbuilding has been incorporated in China with a registered capital of US$99.9 million as joint venture company for its tie-up with Mitsui E&S Shipbuilding and Mitsui & Co. The joint venture was announced in October 2018.
The Singapore-listed shipbuilder said it has a 51 percent stake in the joint venture company via its wholly owned subsidiary Jiangsu Yangzijiang Shipbuilding. The company’s consideration for the investment is US$50.95 million, which will be paid in cash, funded via internal resources, Yangzijiang said in a filing to SGX.
NetLink NBN Trust
NetLink NBN Trust reported Monday its fiscal first quarter net profit rose 10 percent on-year to S$20.93 million amid higher residential connections.
Cromwell European REIT
UBS Group became a substantial shareholder in Cromwell European REIT, with its deemed interest rising to 6.65 percent form 4.06 percent previously, the Swiss bank said in a filing to SGX Monday.
That was after the bank acquired a security interest in 65.74 million units, the filing said.
First REIT reported Monday its second quarter net property income slipped 0.6 percent on-year to S$28.34 million, mainly on higher expenses for the South Korea and Indonesia properties.
APAC Realty reported Monday its second quarter net profit dropped 56.8 percent on-year to S$3.33 million as demand for residential properties remained subdued after the Singapore government imposed fresh cooling measures a year earlier.
Sasseur REIT reported Tuesday its second quarter effective market area (EMA) rental income was 146 million yuan, beating its IPO forecast by 1.3 percent.
Challenger Technologies reported Monday its second quarter net profit rose 4 percent on-year to S$4.17 million amid higher contributions from IT products and services.
Broadway Industrial reported Monday a second quarter loss after tax of S$2.71 million, swinging from a year-ago profit after tax of S$1.45 million as continued weakness in the hard disk drive market weighed on revenue.
Revenue for the quarter ended 30 June fell 37.2 percent on-year to S$63.63 million, the company said in a filing to SGX. In addition, the gross profit margin declined to 2.1 percent in the quarter from 5.9 percent in the year-ago period on the product mix and lower revenue, the filing said.
The strengthening of the Thai baht against the U.S. dollar resulted in a higher foreign-exchange loss, Broadway said.
Broadway Industrial Group said Monday it appointed Tan Choon Hoong as CEO. Tan previously was CEO and executive director of Shenzhen Zesum Polytron Technologies from 2018-19, and was senior vice president of corporate sales and marketing for group business development at Beltron Technology Group from 2007-18, Broadway said in a filing to SGX.
Addvalue Technologies said Tuesday it entered a deal to provide Capella Space, which provides on-demand Earth observation data, with the use of its Inter-Satellite Delay Relay System (IDRS) via Inmarsat’s global L-band satellite communications network.
“In a world where you can send an email in seconds, it should not take up to eight hours to task a satellite and receive the data,” Payam Banazadeh, CEO and founder of Capella Space, said in the statement filed to SGX. “With our access to the largest network of ground station
operators via AWS Ground Station, deploying our data directly into the cloud, and this partnership with Addvalue and Inmarsat to offer real-time tasking and image relay, our Capella customers will enjoy the fastest reactivity in the market.”
E-commerce services provider Synagie has incorporated a direct subsidiary in Thailand, called Synagie (Thailand), with a paid-up share capital of 250,000 baht (S$11,220 or US$8,116), the company said in a filing to SGX Monday.
Nat Uawithya, a Thai citizen, will hold 51 percent of Synagie (Thailand), while the company will hold 48.8 percent, Synagie said. Lee Shieh-Peen Clement, executive director and CEO of Synagie, and Tai Ho Yan, an executive director, will each hold 0.1 percent of the new subsidiary, the filing sadi.
Synagie will direct all of Synagie (Thailand)’s operating activities, and have majority board representation and majority voting rights, the filing said.
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