SG briefs: ComfortDelGro, CAO Singapore, Aspen, GKE, Emerging Towns

ComfortDelGro taxi in SingaporeComfortDelGro taxi in Singapore

Singapore company briefs: ComfortDelGro, China Aviation Oil (Singapore), Aspen (Group), GKE Corp. and Emerging Towns & Cities Singapore. 

ComfortDelGro

ComfortDelGro said Friday it entered a deal to sell all of CDG China’s 60 percent stake in Nanjing ComfortDelGro Xixia Driver Training to Nanjing Xixia Number 2 Passenger Transportation for 2.26 million yuan, or around S$474,600. 

China Aviation Oil (Singapore)

China Aviation Oil (Singapore) warned Friday it expected to report an around 26 percent decline in net profit before tax for 2021. 

“The emergence of new Covid-19 variants in 2021 had set back the nascent recovery of the global aviation industry, as many governments responded by re-imposing travel restrictions and as China further tightens its already strict Covid-19 travel restrictions, leading to a decline in jet fuel demand during the second half of 2021,” CAO Singapore said in a filing to SGX. 

Read CAO Singapore’s filing to SGX.

Aspen (Group)

Aspen (Group) warned Friday that it expected to report a net loss for the six months ended 31 December, mainly due to Covid-related business disruptions. 

The temporary halt to construction works at ongoing projects Vivo Executive Apartment and Viluxe in Malaysia to comply with Covid-related restrictions as well as severe supply chain disruptions and a shortage of unskilled foreign labour after a temporary entry ban has severely impacted progress, the company said in a filing to SGX.

Read Aspen (Group)’s filing to SGX.

GKE Corp. 

GKE Corp. said Friday it has completed the acquisition of all of Fair Chem Industries. 

Read more about the deal

Emerging Towns & Cities Singapore

Emerging Towns & Cities Singapore warned Friday it expected to report a loss for 2021, citing indications the valuations of its investment properties would post fair value losses due to the Golden City project. 

In addition, the development properties at the Golden City project would see a write down and the company expected lower revenue from sales of property units and rental income at the project, the company said in a filing to SGX.