This article was originally published on Thursday, 8 August 2019 at 23:52 SGT; it has since been updated to include Singapore Exchange, Ezion Holdings, Frasers Property, UOL Group, SBS Transit, Japan Foods, Maxi-Cash Financial Services, Sunpower and Hiap Seng Engineering.
These are Singapore companies which may be in focus on Tuesday, 13 August 2019:
Yangzijiang Shipbuilding requested a trading halt on its shares Thursday, pending an announcement, after the stock tumbled as much as 28.5 percent intraday.
Temasek and StarHub
Singapore state-owned investment company Temasek entered an agreement to acquire D’Crypt from StarHub and D’Crypt’s founding shareholders, the telco said in a filing to SGX Thursday.
Singapore Exchange’s futures volume climbed in July as the escalating trade war fueled demand for risk management in commodities and foreign-exchange, the exchange said in a statement Thursday.
Venture Corp. reported Thursday its second quarter net profit fell 7 percent on-year to S$90.81 million amid higher depreciation costs and as margins fell.
Frasers Property reported Thursday its fiscal third quarter net profit jumped 68.2 percent on-year to S$333.9 million on recurring income sources and fair-value gains from portfolio-management initiatives.
Sunpower Group said Tuesday it completed the acquisition of 90 percent of Changshu Suyuan Thermal Power for 293 million yuan (S$57.58 million or US$41.51 million), with the consideration adjusted for the results of due diligence.
“The target is the exclusive steam supplier within its coverage area which includes Yushan Hightech Zone,” Sunpower said in a filing to SGX.
“Nearly 30 small ‘dirty’ coal-fired boilers will be mandatorily shut down by the end of 2019 in Yushan High-tech Zone. This will bring in additional demand for the centralized steam that target generates and is expected to drive the target’s annual steam demand growth significantly by 2020,” it added.
UOL Group posted second quarter net profit increased 48 percent on-year to S$195.38 million on higher fair value gains on investment properties.
SBS Transit reported Thursday its second quarter net profit rose 24.5 percent on-year to S$24.19 million on higher revenue and lower premises costs, partly offset by higher expenses.
Ezion Holdings reported Friday a second quarter loss after tax of US$363.91 million, swinging from a profit after tax of US$96.10 million in the year-ago period, after taking impairments.
Noble Group Holdings, the “New Noble” that emerged after restructuring the troubled commodity trader, issued a reminder to shareholders of “Old Noble” that they must register to receive their shares in the new entity.
City Developments and Millennium & Copthorne
Millennium & Copthorne said Thursday its subsidiary entered a deal to sell its interest in the Millennium Cincinnati hotel to a Cincinnati-based development company. Completion of the sale is conditional on the purchaser finalizing its due diligence, M&C saidl
The announcement followed media commentary by officials representing the Cincinnati Center City Development Corporation (3CDC) in Cincinnati, Ohio, M&C said in a statement filed to SGX. The buyer is unrelated to 3CDC, M&C said.
City Developments holds 65.2 percent of M&C, and has launched a bid to acquire the rest.
Maxi-Cash Financial Services
Maxi-Cash Financial Services reported Thursday its second quarter net profit dropped 20 percent on-year to S$2.80 million amid lower sales from the retail and trading of jewelry and branded merchandise.
Japan Foods entered a joint venture with Ajisen Investments (International) to operate Japanese ramen restaurants under the one-Michelin-star brand Konjiki Hototogisu in Hong Kong, the Singapore-based Japanese restaurant operator said Thursday.
No Signboard Holdings said Thursday it would cease the operations of its Hawker QSR restaurants due to continuing losses.
Hiap Seng Engineering
Hiap Seng Engineering guided Friday that it expected to report a net loss for its fiscal first quarter ended 30 June. Further details will be disclosed when its financial statements are released by 14 August, the company said in a filing to SGX.
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