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See Hup Seng posts 27% fall in 3Q net profit to $1.5m

November 12th, 2010 | No Comments

See Hup Seng, the provider of corrosion prevention services in Singapore and strategic value-added distributor of refined petroleum products in Asia Pacific, today reported that the Group has achieved higher revenue of $47.0 million for the three months ended 30 September 2010 (3Q10).

This represented a year-on-year (y-o-y) increase of 11% from $42.4 million in 3Q09, driven by improved sales performances of both core businesses – Refined Petroleum Distribution (TAT Petroleum) and Corrosion Prevention (CP).

APB posts 65% rise in full-year net profit to $261m

November 12th, 2010 | No Comments

Asia Pacific Breweries (APB) says it achieved a 65% in group attributable net profit before exceptional items (APBE) to $261 million for the full year ended 30 September 2010.

Group revenue for the year increased almost 26% to $2.5 billion. Earnings per share before exceptional items rose 39.9 cents to $1.01. Net asset value per share gained 38 cents to $4.38 while net tangible assets (NTA) per share fell from $3.13 to $1.82 when compared to the previous financial year. The reduction in NTA is mainly due to goodwill arising from the acquisition of breweries in Indonesia and New Caledonia.

Hour Glass Group posts 38% rise in 1H profit after tax to $16m

November 12th, 2010 | No Comments

The Hour Glass Group, one of Asia’s leading luxury watch retailers, says it registered a 4% rise in revenues to $232.9 million for half year ended 30 September 2010 (1H FY2011).

Profit after tax for the first half year increased 38% to $16.0 million and earnings per share was 6.67 cents for the half year ended 30 September 2010 (1H FY2011).

Kreuz Holdings posts 3Q net profit of $1.2m

November 11th, 2010 | No Comments

Newly-listed Kreuz Holdings, the subsea solutions provider for the oil and gas industry, reported a 6% increase in revenue to US$13.6 million ($17.5 million) for the three months ended September 30, 2010 (3QFY2010) from US$12.8 million for the three months ended September 30, 2009 (3QFY2009). Profit attributable to equity holders of the company increased marginally by 1.2% to US$0.9 million in 3QFY2010.

In terms of revenue by customers, contributions from related companies comprised 43.7% of revenue and third-party customers made up the remaining 56.3% in 3QFY2010.

Sino Techfibre posts net loss of $10m in 3Q

November 11th, 2010 | No Comments

Sino Techfibre, the producer of microfibre, polyurethane (PU) synthetic leather and pattern moulding paper (PMP) in China, today announced that it registered a net loss of RMB51.5 million ($10 million) for the three months ended 30 September 2010, on the back of a 7.4% rise in group revenue to RMB279.2 million.

Fabchem China posts 18.7% fall in 2Q net profit to $1.7m

November 11th, 2010 | No Comments

Mainboard-listed Fabchem China has posted an 18.7% fall in net profit to RMB8.8 million ($1.7 million) for the second quarter of the financial year ending 31 March 2011(2Q2011). Fabchem is one of the leading manufacturers of initiation systems and detonating cords producers in China.

Genting Singapore Posts 3Q profit of $187.8m

November 11th, 2010 | No Comments

Genting Singapore Plc, owner of one of two casinos in the city-state, said third-quarter net income was $187.8 million, compared with a loss of $93.3 million a year earlier.

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China Animal Healthcare posts 64% drop in 3Q net profit to $3.6m

November 11th, 2010 | No Comments

China Animal Healthcare, one of the leading players in China’s animal drugs industry, posted record revenue of RMB160.9 million ($31.3 million) for the three months ended 30 September 2010 (3Q2010).

But net profit declined 64% y-o-y to RMB18.4 million due mainly to the incurrence of numerous non-routine expenses such as professional fees in connection with CAH’s proposed listing on the Stock Exchange of Hong Kong amounting to RMB14.4 million and the non-cash fair value charge of RMB19.2 million for the 13.0 million new shares issued to employees.

China Animal Healthcare posts 64% drop in 3Q net profit to $3.6m

November 11th, 2010 | No Comments

China Animal Healthcare, one of the leading players in China’s animal drugs industry, posted record revenue of RMB160.9 million ($31.3 million) for the three months ended 30 September 2010 (3Q2010).

But net profit declined 64% y-o-y to RMB18.4 million due mainly to the incurrence of numerous non-routine expenses such as professional fees in connection with CAH’s proposed listing on the Stock Exchange of Hong Kong amounting to RMB14.4 million and the non-cash fair value charge of RMB19.2 million for the 13.0 million new shares issued to employees.

Koda posts 1Q net profit of $0.5m, reversing losses

November 11th, 2010 | No Comments

Mainboard-listed Koda, the original design manufacturer, today announced a net profit of US$0.4 million ($0.5 million) for the July-September quarter (1Q11), reversing two consecutive quarters of losses for 3Q10 and 4Q10.

Concurrently, 1Q11 revenue for the home-grown exporter of home furniture for the mid- to upper-end market segments worldwide improved by 15.4% or US$1.6 million over 4Q10 to US$11.8 million, driven mainly by the US market which accounted for about 46% of Koda’s revenue.

Similarly 1Q11 gross profit rose 14.5% to US$3.1 million from US$2.7 million in 4Q10 while gross profit margin remained relatively stable at 26%.

Koda’s Managing Director James Koh Jyh Gang says: “Although we are not out of the woods yet, we are encouraged by our return to profitability this quarter. While average order size remains small and delivery times are shorter, the continuity in orders in the last few quarters means that our core business fundamentals are intact.”

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Ho Bee Investment posts 61% fall in 3Q net profit to $39m

November 11th, 2010 | No Comments

Mainboard-listed property group Ho Bee Investment says net profit attributable to shareholders decreased 61% from $99.3 million in the previous year to $38.8 million, yielding 5.3 cents per share. Group turnover was 53% lower, from $209.2 million to $98.9 million, as a result of the higher revenue recognition from development properties in the same quarter last year.

Petra Foods posts 110% gain in 3Q net profit to $13.3m

November 11th, 2010 | No Comments

Petra Foods, one of the world’s major manufacturers and suppliers of cocoa ingredients, says net profit attributable to shareholders in the third quarter ended 30 September 2010 (3Q 2010) rose 109.9% to US$10.3 million ($13.3 million) on the back of a 33.8% increase in sales to US$433.1 million.

This was boosted by higher sales volume, higher unit pricing and higher margins achieved by both its Cocoa Ingredients and Branded Consumer divisions. EBITDA improved 56.5% to US$27.7 million in the same period.

Yanlord Land Group posts 10.5% rise in 9M net profit to $229m

November 10th, 2010 | No Comments

Yanlord Land Group, the real-estate developer focused on developing high-end integrated commercial and residential property projects in high-growth cities in China, says net profit for the period from 1st January to 30th September 2010 (9M 2010) rose 10.5% to $228.7 million from $207.0 million in 9M 2009.

Recognised revenue in 9M 2010 was lower at $1,322.5 million compared to $1,385.6 million in 9M 2009 owing to a smaller GFA delivered in line with the group’s delivery schedule. However, increased delivery of wholly-owned projects in 9M 2010 drove net profit attributable to equity holders of the company up 10.5% to $228.7 million from $207.0 million in 9M 2009. Reflecting this increase, net attributable profit margin rose to 17.3% from 14.9% in 9M 2009.

CAO posts 26.3% lower 3Q net profit of $17.8m

November 10th, 2010 | No Comments

CAO says it posted a net profit attributable to shareholders of US$13.8 million ($17.8 million) for the 3 months ended 30 September 2010 (3Q2010), which was 26.3% lower than the corresponding period last year. This was primarily due to lower profit contribution from associated companies and lower gross profit.

In 3Q 2010, CAO continued to grow its business in jet fuel and other oil products. Total supply and trading volume for jet fuel and other oil products increased 26.9% to 2.03 million tonnes in 3Q 2010. Driven by a continued increase in jet fuel trading activities, total jet fuel supply and trading volume (which includes jet fuel procured and supplied to the China and international jet fuel trading) in 3Q 2010 was 1.91 million tonnes, up 22.4% as compared to 3Q 2009. Jet fuel imports into the China remained stable.

ARA Asset Management posts 11% higher 3Q net profit of $38.1m on revenue of $70.8m

November 10th, 2010 | No Comments

ARA Asset Management has reported an 11% increase in net profit for the nine months ended 30 September 2010 (YTD 3Q2010) to $38.1 million.

Total revenue rose 19% to $70.8 million during the period, driven by a 28% jump in recurrent management fees from $48.8 million in YTD 3Q2009 to $62.4 million in YTD 3Q2010. The increase was primarily due to contributions from the group’s real estate management services business division and the ARA Harmony Fund which were established in 4Q2009 and Cache Logistics Trust, which was listed on the SGX on 12 April 2010.

UOL posts 18% rise in 3Q net profit to $124.7m

November 10th, 2010 | No Comments

UOL Group, today announced net attributable profit of $124.7 million, for the third quarter ended 30 September 2010, which represents an 18% increase from $104.1 million in 3Q09.

Pre-tax profit during the same three-month period rose 17% to $157.9 million backed by a record revenue of $345.2 million. This is attributable to higher profit recognition from property development, stronger performance in the Group’s hotel operations and increased share of profit from associated companies.

ASL Marine posts 32.2% drop in 1Q earnings to $8m

November 10th, 2010 | No Comments

ASL Marine Holdings, the integrated marine company offering services in shipbuilding, shiprepair and conversion and shipchartering, says it registered a 30.6% drop in total revenue to $81.4 million for the three months ended 30 September 2010 (1QFY2011). Net profit attributable to equity holders also fell 32.3% y-o-y to $8 million.

Shipbuilding revenue of $49.0 million in 1QFY2011 was 31% lower mainly due to lesser number of projects undertaken and comparatively lower order book. The segment’s gross margin remained stable and it was marginally higher at 9.2% in 1Q FY2011.

PEC posts 23% rise in 1Q earnings to $8.8m

November 10th, 2010 | No Comments

PEC says profit attributable to shareholders rose 23% to $8.8 million for the first quarter ended 30 September 2010 of financial year 2011 (1Q2011) from $7.1 million in 1Q2010 due to improved margins and higher contributions from joint ventures.

Group revenue remained stable at $107.8 million in 1Q2011 compared to $106.9 million in 1Q2010, generated from ongoing project works and maintenance services. Gross profit during the period rose 14% to $27.3 million from $24.0 million, while gross profit margin increased to 25% from 22% in 1Q2010.

Yongnam posts 21% jump in 3Q net profit to $13.7m

November 10th, 2010 | No Comments

Yongnam Holdings, the structural steel contractor and specialist civil engineering solutions provider, today reported a 20.6% jump in the group’s net profit to $13.7 million for the three months ended September 30, 2010 (3QFY2010), despite a marginal dip in revenue from $82.6 million in 3QFY2009 to $80.8 million in 3QFY2010.

This was due to higher contribution to the revenue mix from Specialist Civil Engineering which enjoyed better margins, coupled with improved margins achieved for Structural Steelworks projects. The Group achieved a gross profit of S$22.3 million in 3QFY2010, 13.5% higher than the gross profit of S$19.7 million in 3QFY2009.

Singaporeâ€™s City Developments posts flat Q3 net profit

November 10th, 2010 | No Comments

City Developments (CTDM.SI), Southeast Asia’s second-largest property firm, posted a 1.1% rise in third quarter net profit on Wednesday as higher income from hotels were offset by a drop in development income.

CityDev, which owns 53% of London-listed hotel operator Millennium & Copthorne (MLC.L), said its net profit rose to $195.8 million in the July-September period from $193.6 million a year ago.