SG stocks Tuesday: SIA Engineering, Elite Commercial REIT, Raffles Education, Marco Polo, PropNex

A Singapore Airlines Scoot plane on the tarmac at Changi Airport in October 2018.A Singapore Airlines' Scoot plane at Changi Airport

Singapore companies in focus on Tuesday, 22 February 2022:

  • SIA Engineering: Fiscal 3Q net profit quadruples, but still trails pre-Covid levels
  • Elite Commercial REIT reports 2H21 net property income rose 62 percent
  • Raffles Education: CAD to arrest certain directors, including Chairman Chew, in Affin Bank investigation

Others: PropNex, Raffles Medical Group, Marco Polo Marine, Yangzijiang Shipbuilding (Holdings) and others.

SIA Engineering

SIA Engineering reported Monday its fiscal third quarter net profit jumped 331 percent on-year to S$33.2 million, but it highlighted that the pace of recovery remained uncertain, with activity still well below pre-pandemic levels. 

Read more: SIA Engineering: Fiscal 3Q net profit quadruples, but still trails pre-Covid levels

Raffles Education

Raffles Education said early Tuesday the Commercial Affairs Department (CAD) of the Singapore Police Force notified certain directors, including Chairman and CEO Chew Hua Seng, to attend the CAD offices for their formal arrest and posting and release on bail. 

Read more: Raffles Education: CAD to arrest certain directors, including Chairman Chew, in Affin Bank investigation

PropNex

PropNex stated Monday that Chairman and CEO Mohamed Ismail told a salesperson development event on 10 January that the commissions related to the more than 86,000 property transactions the company’s salespeople handled in 2021 would exceed S$1 billion. 

Read more: PropNex walks back estimates 2021 revenue exceeded S$1B

Elite Commercial REIT

Elite Commercial REIT reported Monday its second half net property income rose 62 percent on-year to GBP18.34 million, driven by the REIT’s first acquisitions and on a lower tax rate. 

Read more: Elite Commercial REIT reports 2H21 net property income rose 62 percent

Marco Polo Marine

Marco Polo Marine reported Monday its fiscal first quarter revenue and gross profit grew on-year, driven by both the shipyard and ship chartering segments, leading it to post a net profit. 

Read more: Marco Polo Marine posts fiscal 1Q net profit as shipyard and ship chartering revenue rises

Raffles Medical Group

Raffles Medical Group reported Monday its 2021 net profit increased 27.7 percent on-year to S$84.2 million, mainly on sales of Covid-related products and services.

Read more: Raffles Medical posts 2021 net profit rose 28 percent

Yangzijiang Shipbuilding, Sin Heng Heavy Machinery and TEE International

Singapore company briefs: Yangzijiang Shipbuilding (Holdings), Sin Heng Heavy Machinery and TEE International. 

Read more: SG briefs: Yangzijiang Shipbuilding, Sin Heng Heavy, TEE Intl

SIA Engineering, Shinvest and others

Singapore company briefs: SIA Engineering, Shinvest Holding, Yongmao Holdings and Hong Lai Huat.

Read more: SG briefs: SIA Engineering, Shinvest, Yongmao, Hong Lai Huat

VTAC, StarHub, Premier League, Astaka, TEE International and others

Singapore company briefs: Vertex Technology Acquisition Corp. (VTAC), StarHub, China Yuanbang Property Holdings, TEE International, Astaka Holdings and Ly Corp. 

Read more: SG briefs: VTAC, StarHub and Premier League, China Yuanbang Property, Astaka, Ly Corp, Tee Intl