These are Singapore companies which may be in focus on Friday, 6 August 2021: OCBC, Fraser and Neave (F&N), Yangzijiang Shipbuilding, StarHub, Credit Burea Asia, Banyan Tree, Roxy-Pacific Holdings, Thakral, Chip Eng Seng, Challenger Technologies and Eurosports Global.
This item was originally published on Friday, 6 August 2021 at 2:12 a.m. SGT; it has since been updated to include Sembcorp Industries, Capitaland Integrated Commercial Trust (CICT) and Keppel Pacific Oak REIT (KORE).
Singapore bank OCBC priced A$500 million of senior floating-rate green notes due 2024, with the proceeds earmarked to finance or refinance new or existing assets meeting eligibility criteria for green bonds under the bank’s Sustainability Bond Framework.
Fraser and Neave
Fraser and Neave reported Thursday its fiscal nine-month profit before interest and tax increased 3.9 percent on-year to S$219.3 million on revenue of S$1.46 billion, up 5.8 percent on-year.
F&N said the results were resilient despite the Covid-19 pandemic, but it issued a cautious outlook for the rest of the year due to the Delta variant driving up infections and spurring authorities in the company’s key markets to impose movement restrictions.
Dairies remained the largest revenue contributor for the nine months ended 30 June, accounting for 63 percent of revenue, on higher canned milk sales and strong exports to the Middle East and Africa, while higher soft drink and beer volumes boosted beverages revenue, the company said in a filing to SGX.
Yangzijiang Shipbuilding reported Thursday its first half net profit increased 39 percent on-year to 1.64 billion yuan despite lower revenue amid a net reversal of an impairment loss, fair value gains and a lower cost of sales.
Sembcorp Industries reported Friday its first half swung to a net profit of S$46 million from a year-ago loss of S$42 million despite a S$212 million impairment on its 49 percent-owned Chongqing Songzao coal-fired power plant in China.
CapitaLand Integrated Commercial Trust (CICT)
CapitaLand Integrated Commercial Trust’s (CICT) manager said Friday Wong Mei Lian will be appointed as chief financial officer designate, and she will take over the role from Chew Sze Yung on 26 August.
Wong will head the finance team and be responsible for the sourcing and management of funds for the trust, as well as overseeing matters involving treasury, accounting and capital management, the manager, CapitaLand Integrated Commercial Trust Management, said in a filing to SGX.
Previously, Wong was senior vice president for capital partnership and development at the trust, and at Ascendas-Singbridge, she was group financial controller and head of corporate finance and treasury, the filing said.
Keppel Pacific Oak REIT (KORE)
Keppel Pacific Oak REIT (KORE) said Friday the 88.68 million new units issued under its private placement at US$0.733 each to raise US$65 million will begin trading on SGX Friday.
StarHub reported Thursday its second quarter net profit climbed 62.6 percent on-year to S$37.4 million, with all business segments reporting improved quarter-on-quarter performance.
Credit Bureau Asia
Credit Bureau Asia reported Thursday its first half net profit, or profit attributable to the owners, increased 5.5 percent on-year amid strong performance for both the financial and non-financial institution data businesses.
Goodview Properties became a substantial shareholder of Banyan Tree after acquiring 1.5 million shares in the market for S$465,387, which increased its holding to 5.12 percent from 4.94 percent previously, according to a filing to SGX Thursday. Holding a stake of 5 percent or larger is considered substantial.
The estate of Ng Teng Fong has a controlling interest in Far East Organization Centre, which in turn has a controlling interest Goodview Properties, meaning they both are considered to have a deemed interest in the Banyan Tree stake, according to separate filings to SGX. Ng Chee Tat Philip and Ng Chee Sion, beneficiaries and joint executors of the estate, are also deemed to have an interest in Goodview Properties’ holdings, the filings said.
Roxy-Pacific Holdings reported Thursday its first half net profit climbed 110 percent on-year to S$5.87 million as the overall gross profit margin increased to 18 percent from 15 percent a year earlier on higher contributions from the property development segment.
Revenue for the January-to-June period increased 20 percent on-year to S$141.19 million on higher sales in the property development and property investment segments, the company said in a filing to SGX.
However, hotel ownership revenue dropped 29 percent on-year to S$10.7 million in the first half due to the Covid-19 pandemic, which spurred many countries to impose border control measures, impacting tourism, Roxy-Pacific said.
Thakral Corp. reported Thursday its first half net profit jumped 516 percent on-year to S$15 million on revenue of S$61.8 million, up 44 percent on-year, despite challenging market conditions due to the Covid-19 pandemic.
“The group’s bottomline benefitted from valuation gains, improved contributions from its associates and joint ventures (which includes GemLife) as well as a gain on disposal of investment properties following the sale of some GLNG houses in Gladstone Australia and properties in China,” the company said in a filing to SGX.
Chip Eng Seng
Chip Eng Seng reported Thursday it swung to a first half profit attributable to owners of the company of S$99,000 from a year-ago loss of S$24.42 million as revenue jumped, offset by higher administrative expenses and a higher share of losses from joint ventures, mainly on fiar value losses on investment properties and the share of losses from Cybint International Group, which was acquired in September 2020.
Revenue for the January-to-June period increased 114.6 percent on-year to S$622.42 million due a low base a year earlier when most construction progress ceased during the Circuit Breaker period to stem the spread of the Covid-19 virus, the company said in a filing to SGX.
Challenger Technologies reported Thursday its first half net profit slipped 3 percent on-year to S$9.34 million as premises expenses increased on lower rental waivers and rebates, lower government grants, lower interest rates and higher employee benefit expenses.
Revenue came in at S$135.77 million, up 15 percent on-year, on a rebound in the IT products and services business segment as the retail operations saw strong growth after the year-earlier period’s Circuit Breaker measures to control the pandemic, the technology retailer said in a filing to SGX.
Eurosports Global said Thursday Executive Chairman and CEO Goh Kim San attended the office of the Commercial Affairs Department (CAD) of the Singapore Police Wednesday for investigation under the Securities and Futures Act. The CAD retained Goh’s mobile phone and he surrendered his passport, the company said in a filing to SGX.
The company added it had been served with an order from the CAD and the Monetary Authority of Singapore to produce “document or other thing [sic]” for the investigation, and that it would cooperate.
Goh has voluntarily agreed to a suspension of his duties at the group and will not exercise any executive powers, with Deputy CEO Goh Kim Hup acting as interim CEO and executive chairman, the company said.