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
Yangzijiang Shipbuilding requested a trading halt on its shares Thursday, pending an announcement, after the stock tumbled as much as 28.5 percent intraday.
Read more: Yangzijiang requests trading halt after shares tumble
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.
Read more: Temasek to acquire D’Crypt from StarHub and founders for as much as S$134 million
Singapore Exchange
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.
Read more: SGX posts jump in July futures volume as US trade war fuels demand
Follow Shenton Wire on Telegram to receive alerts on your phone
Venture
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.
Read more: Venture reports 2Q19 net profit fell 7 percent
Frasers Property
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.
Read more: Frasers Property reports fiscal 3Q net profit jumped 68 percent on fair value gains
Sunpower Group
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.
Read more about Sunpower Group.
Follow Shenton Wire on Telegram to receive alerts on your phone
UOL Group
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.
Read more: UOL Group reports 2Q19 net profit climbed 48 percent on higher fair value gains
SBS Transit
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.
Read more: SBS Transit posts 2Q19 net profit increased 25 percent
Ezion Holdings
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.
Read more: Ezion posts 2Q19 US$364 million loss after tax on impairments
Follow Shenton Wire on Telegram to receive alerts on your phone
Noble Holdings
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.
Read more: Noble: ‘Old Noble’ shareholders must take action to receive ‘New Noble’ shares
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.
Read more about City Developments.
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.
Read more: Maxi-Cash reports 2Q19 net profit dropped 20 percent amid lower retail sales
Follow Shenton Wire on Telegram to receive alerts on your phone
Japan Foods
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.
Read more: Japan Foods enters joint venture to launch Konjiki Hototogisu brand in Hong Kong
No Signboard
No Signboard Holdings said Thursday it would cease the operations of its Hawker QSR restaurants due to continuing losses.
Read more: No Signboard to end Hawker QSR restaurant operations
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.
Read more about Hiap Seng Engineering.
While you’re here, we’re hoping you can help us out.
Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.
Your monthly contribution will directly fund our journalism.
You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.
