SGX:542, SGX:AFC, SGX:E5P, SGX:G07, SGX:G0I, SGX:O23, SGX:OV8, SGX:S24, SGX:W05, SGX:Z59,
Giken Sakata (S) posted a 45.6 percent decline in revenue to $69 million for the year ended 31 August, mainly due to the discontinuation of a turn-key project in March. On the other hand, the shift in revenue mix has helped to lift gross profit by 23.8 percent to $11.7 million. Subsequently, earnings soared more than four times to $2.1 million.
Great Eastern Holdings posted a 28.3 percent fall in its profit from insurance business for the third quarter ended 30 September, stemmed from lower profits from both life assurance and general insurance products. Subsequently, net profit fell 31.2 percent to $194.6 million. For the nine months, profit from insurance business advanced 33.1 percent to $601.6 million, as a result of mark-to-market gains stemmed from rising long term interest rates and narrowing credit and swap spreads. In the same period, net profit gained 31.8 percent to $670.8 million.
Nam Lee Pressed Metal Industries proposed the acquisition of a single-storey building (factory with office) and other ancillary buildings located in Johor Bahru for RM20.5 million (approximately $8 million) in cash. The property is located on a freehold land plot measuring 18,485 square metres. The appraised value of the property is RM23 million as at 15 September.
OSIM International’s revenue registered a 3.4 percent growth to $158.2 million for the third quarter ended 30 September, mainly due to the consolidation of sales in TWG Tea. As expansion in expenses outpaced the company’s revenue growth, earnings of the company sank 27.8 percent to $16.4 million. For the nine months, revenue rose 9.5 percent to $513.5 million while earnings edged up 1.1 percent to $74.8 million. The group has declared an interim dividend per share of $0.01.
Sheng Siong Group posted a 4.8 percent increase in revenue to $186.4 million for the third quarter ended 30 September, mainly as a result of higher comparable same store sales. Consequently, net profit advanced 15.4 percent to $12.2 million. For the nine months, revenue progressed 5.9 percent to $547.6 million and earnings gained 21 percent to $35.8 million.
STATS ChipPAC’s revenue for the third quarter ended 28 September was of little change at US$403.8 million, due to delays in wafer supply at several key customers and demand shift from the high end smartphone space towards the low cost smartphone segment. Furthermore, in absence of US$19.6 million in one-off gains recognised from insurance claims, the company registered a net loss of US$5.3 million. For the nine months, revenue dipped 2 percent to US$1.2 billion, while losses shrank 28.6 percent to US$25.3 million.
The Hour Glass has fully acquired the share capital of Watches of Switzerland, a watch retailing company incorporated in Singapore, for $13.3 million in cash. The net asset value of the acquired company as at 30 September was $8.8 million.
Wing Tai Holdings saw a 28.2 percent drop in revenue to $160.1 million for the first quarter ended 30 September, due to slower sales in its property projects. However, higher contributions from associated and joint venture companies, particularly Wing Tai Properties in Hong Kong, helped to cushion impact from the drop in revenue, where earnings dipped 1.4 percent to $24.2 million.
Yoma Strategic’s revenue shifted up 52.9 percent to $41.2 million for the second quarter ended 30 September, as a result of higher contribution from the sale of residences and land development rights in Myanmar. Consequently, earnings were up 221.8 percent to $10.8 million. For the six-month period, revenue grew 38.2 percent to $58.7 million while earnings jumped 181.9 percent to $12.3 million.
YuuZoo Corporation launched its first mobile game on iOS, Honey Snatch that is jointly developed with Sandbox, a mobile and online game developer in Thailand. The game will be made available in Google Play Store later this year. - Shares Investment
