UPDATE: Singapore stocks to watch Tuesday: Yangzijiang, NetLink NBN, APAC Realty, Cromwell European REIT

Singapore’s port with the monorail to Sentosa island.Singapore’s port with the monorail to Sentosa island.

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

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.

Read more: Yangzijiang reports 2Q19 net profit fell 6 percent, issues positive outlook

Yangzijiang Shipbuilding

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.

Read more about Yangzijiang Shipbuilding.

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.

Read more: NetLink NBN reports fiscal 1Q net profit rose 10 percent

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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.

Read more about Cromwell European REIT.

First REIT

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.

Read more: First REIT reports 2Q19 net property income slipped

APAC Realty

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.

Read more: APAC Realty reports 2Q19 net profit dropped 57 percent as cooling measures bite

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Sasseur REIT

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.

Read more: Sasseur REIT reports 2Q19 rental income beat IPO forecasts in yuan terms

Challenger Technologies

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.

Read more: Challenger Technologies reports 2Q19 net profit rose 4 percent

Broadway Industrial

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.

Read more about Broadway Industrial’s earnings.

Broadway Industrial

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.

Read more about Broadway Industrial.

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Addvalue Technologies

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.”

Read more about Addvalue Technologies.

Synagie

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.

Read more about Synagie.

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