Isetan Singapore swings to 2Q19 net profit from year-ago loss
Isetan Singapore reported Wednesday a second quarter net profit of S$40,000, swinging from a year-ago net loss of S$1.39 million as expenses fell.
Stocks
Accordia Golf Trust fiscal 1Q net profit fell 3 percent
Accordia Golf Trust reported Wednesday its fiscal 1Q net profit fell 3.2 percent on-year 2.32 billion yen on higher interest and income tax expense.
No Signboard: Turning cautious on new brands after shuttering Hawker QSR
No Signboard Holdings said it wouldn’t launch any new dining brands after shuttering its three Hawker QSR outlets after less than a year.
Yangzijiang: Executive chairman assisting in China investigation
Yangzijiang said Wednesday Executive Chairman Ren Yuanlin has taken a leave of absence while assisting in a confidential investigation by China authorities.
UPDATE: Singapore stocks to watch Wednesday: Wilmar, ComfortDelGro, MUST, Yanlord, OUE, Accordia Golf
These are Singapore stocks which may be in focus on Wednesday, 14 August 2019: Wilmar, ComfortDelGro, MUST, Yanlord, OUE and Accordia Golf.
Propnex reports 2Q19 net profit declined 12 percent as cooling measures weigh
PropNex reported Tuesday its 2Q19 net profit fell 11.9% on-year on lower commission income in the wake of property cooling measures imposed a year earlier.
Valuetronics fiscal 1Q net profit fell 3 percent as trade war hits customers
Valuetronics said Wednesday its fiscal 1Q net profit fell 3.1% on-year to HK$48.1M as the U.S. trade war spurs customers to seek production outside China.
ST Engineering posts 2Q19 net profit increased 18 percent, but missed CGS-CIMB forecast
ST Engineering reported Wednesday its 2Q19 net profit increased 18% on-year to S$138.2 million on higher profit from the marine and “others” segments.
Olam 2Q19 net profit drops 35 percent on changes to lease accounting
Olam International reported Wednesday its second quarter net profit dropped 34.5 percent on-year to S$61.49 million on changes to accounting for leases.
BreadTalk announces resignation of CEO Chu
BreadTalk said Wednesday CEO Chu Heng Hwee would resign, effective 31 December, with Executive Chairman George Quek Meng Tong set to take over the CEO role.
Yanlord reports 2Q19 net profit dropped 41 percent on lower deliveries
Yanlord Land reported Tuesday its 2Q19 net profit dropped 41% on-year to 865.32 million yuan as the developer delivered a lower gross floor area.
OUE 2Q19 net profit surges more than 11 times on divestment proceeds
OUE reported Tuesday its 2Q19 net profit surged more than 11 times on-year to S$60.86M, mainly on a one-off gain for the disposal of Aquamarina Hotel.
Vividthree enters deal to develop Doraemon virtual reality show
Vividthree said Tuesday it entered a deal with Hong Kong-based Animation International to develop the Doraemon Experience (DE), a show combining VR and AR.
Wilmar reports 2Q19 net profit dropped 52 percent, missing forecast from UOB KayHian
Wilmar reported Tuesday its 2Q19 net profit dropped 52.3% on-year, partly on lower soybean crush margins and on weaker performance from the sugar division.
Wilmar plans to list 10 percent of YKA on ChiNext
Wilmar said Tuesday it planned to list a 10 % stake in its China operations, Yihai Kerry Arawana, on the ChiNext board of the Shenzhen Stock Exchange.
Accordia Golf Trust reports increase in players in July
Accordia Golf Trust reported Tuesday the number of players on its 88 courses rose 7.2 percent on-year in July to 497,808.
ComfortDelGro posts 2Q19 net profit edged up on contributions from acquisitions
ComfortDelGro reported Tuesday its 2Q19 net profit edged up 1.2 percent on-year to S$75.9 million on new acquisitions and growth in public transport.
Manulife US REIT 2Q19 net property income climbs 34 percent
Manulife US REIT (MUST) reported Tuesday its second quarter net property income climbed 33.8 percent on-year to US$27.26 million on new acquisitions.
BofA-ML survey: Fund managers grow more jittery in August, turning to protection
Global fund managers are still nervous in August, pulling away from equities and turning to “insurance,” the BofA-ML fund manager survey said Tuesday.
China Everbright Water reports 1H19 net profit rose 13 percent
China Everbright Water reported Tuesday its 1H19 net profit rose 13% on-year to HK$420.49M on more higher margin projects.
Halcyon Agri swings to 2Q19 net profit from year-ago loss
Halycon Agri reported Tuesday a 2Q19 net profit of US$2.28M, swinging from a year-ago net loss of US$4.11M amid a foreign exchange gain and lower expenses.
UPDATE: Singapore stocks to watch Tuesday: Yangzijiang, StarHub, Venture, SGX, Ezion, Noble, SBS Transit
These are Singapore companies which may be in focus on Tuesday, 13 August 2019: Yangzijiang, StarHub, Venture, Noble and No Signboard.
Maybank KE sticks with contrarian Buy call on StarHub
Maybank KE said it was sticking with a contrarian Buy call on StarHub, saying the shares could re-rate on signs Singapore’s telco market has stabilized.
Daiwa: StarHub is not out of the woods, but mobile offers some positives
StarHub’s lower-than-expected 2Q19 results show the telco isn’t out of the woods, but there were still positive signs, Daiwa said in a note last week.
Maybank KE expects Sasseur REIT to show growth momentum into 2H19
Sasseur REIT was set to continue its growth momentum in 2H19 after beating its IPO projections for a fifth straight quarter, Maybank KE said.
Credit Suisse turning even more cautious on Singapore’s market
Credit Suisse said it’s turning more cautious on the Singapore market, forecasting the city-state’s economic growth would slow to just 0.5 percent in 2019.
Ezion posts 2Q19 US$364 million loss after tax on impairments
Ezion reported Friday a 2Q19 loss after tax of US$363.91M, swinging from a profit after tax of US$96.10M in the year-ago period, after taking impairments.
Japan Foods enters joint venture to launch Konjiki Hototogisu brand in Hong Kong
Japan Foods said Thursday it entered a JV with Ajisen Investments to operate Japanese ramen restaurants under the Konjiki Hototogisu in Hong Kong.
