KSH Holdings, the construction, property development and property management group, today announced a net profit after taxation of $8.5 million for for the half year ended September 30, 2010 (1HFY2011) compared to $10.1 million in 1HFY2010.
Revenue rose 15.4% to $144.1 million from $124.9 million for the previous corresponding period.
Sembcorp Industries reported a 65% growth in net profit for the third quarter of 2010 (3Q2010). In 3Q2010, group net profit was $244.1 million compared to $148.1 million, while turnover was $2.2 billion compared to $2.6 billion in 3Q2009.
The group’s share of Marine’s net profit for the quarter included an exceptional item comprising $32.1 million from Marine’s full and final amicable settlement of disputed foreign exchange transactions. Excluding this exceptional item, group net profit rose 43% from $148.1 million to $212.0 million.
Action Asia, the designer, manufacturer and assembler of video and audio mobile entertainment products, reported a 10.2% rise in net profit to $10.5 million for 3Q2010 against $9.5 million in 3Q2009. This was 34.5% higher than the net profit of S$7.8 million achieved in 2Q2010.
Group revenue was up 21.3% to $130.1 million in 3Q2010 from $107.2 million in 3Q2009. This was also 41.3% higher than $92.0 million in 2Q2010. The increase stemmed mainly from higher sales of consumer lifestyle entertainment products resulting from higher volume of orders received from the Group’s key multinational customers. These consumer lifestyle entertainment products were widely accepted by consumers, prompting a surge in demand for these products.
The group’s 3Q2010 net profit would have been higher if not for the increased foreign exchange loss of $1.07 million resulting from a weakening US Dollar. The group’s forex loss in 2Q2010 was $0.39 million.
The group has announced an interim cash dividend of 0.50 cent per share for 3Q2010. This is the second cash dividend announced in FY2010. The interim dividend will be paid on 1 December 2010.
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Mainboard-listed Delong Holdings, the manufacturer of hot-rolled steel coils (HRC) in China, says net profit for the third quarter ended 30 September 2010 (3QFY2010) fell 69.3% to RMB 42.7 million ($8.2 million) from RMB 139.1 million in 3Q2009.
The company continued to report higher revenue, which went up by 16.7% to RMB 2.5 billion in 3Q2010 compared to 3Q2009. But the increase in raw materials prices outpaced the average selling prices of HRC sold in 3Q2010. leading to a fall in profit margins.
Barring unforeseen circumstances, the group says it remains cautiously optimistic of a profitable performance for FY2010.
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Foam and fabric manufacturer Ziwo Holdings says net profit grew 41.7% to a quarterly record of RMB33.7 million ($6.5 million) for the group’s third quarter ended 30 September 2010 (3Q10).
For the latest quarter, the group reported a 56.7% increase in revenue to RMB140.3 million, due mainly to the increase in production capacity coupled with the continuous strong market demand for its products, as sales volume for the quarter grew 39.2% to 10,194 tonnes..
SGX-listed Oceanus Group, the world’s largest land-based abalone producer, posted a net profit to RMB217.5 million ($41.9 million) in the nine months ended 30 September 2010 (9M2010), lower than the RMB 280.2 million posted in 9M2009.
Jaya Holdings says it registered revenue of $78.2 million and net attributable profit (PATMI) of $31.3 million for the first quarter ended 30 September 2010.
Total revenue for the first quarter under review was $78.2 million, 94% higher than the previous corresponding quarter of $40.4 million.
The Offshore Shipping Division recorded lower revenue, down 17% while revenue from the Shipbuilding Division was 224% higher than the previous corresponding quarter.
Private education provider Raffles Education Corporation says for the first quarter ending ended 30 September 2010 (1QFY2011), it posted a net profit after tax of $6.2 million, a 56% decline from $14.1 million in 1QFY2010. This came on the back of an 18% fall in revenue of to $42.2 million from $51.6 million.
Raffles Education says the decrease in revenue was mainly due to a drop in the overall number of students in China taking the Gao Kao, foreign exchange translation loss on Renminbi-denominated revenue, and higher operating expenses from the group’s enlarged operations.
CSC Holdings, the foundation and geotechnical engineering specialist, has reported an 4% increase in earnings to $4.4 million for the three months ended 30 September 2010 (2Q FY11), compared to $4.1 million achieved in the first quarter ended 30 June 2010 (1Q FY11).
Revenue of $78.4 million for 2Q was also 0.9% higher than revenue of $77.7 million in 1Q.
Mainboard-listed Hupsteel today announced that the group achieved revenue of $46 million (1QFY10: $36.9 million) for the quarter ended 30 September 2010 (1QFY11) with profit after tax of $1.8 million (1QFY10: $1.9 million).
Lim Kim Thor, CEO of Hupsteel, says, “Demand for steel products softened slightly during the last quarter due to the weak recovery in the global markets and amidst signs of slowing down in the local economy. This was evidenced by the lack of new shipbuilding and oil & gas projects announced during the last quarter. However, we are looking forward to new infrastructure projects like the Sports Hub where there may be an opportunity for the group to supply to.”
Mainboard-listed Hyflux today announced a net profit attributable to shareholders for the third quarter of FY2010 of $19 million against revenue of $137.5 million.
The net profit for the third quarter of FY2010 was 5% higher than that achieved in the third quarter of FY2009, while group revenue was an increase of 9%. The weakening US dollar against the Singapore dollar led to an unrealized foreign exchange loss for the group which amounted to $7.9 million.
DBS (DBSM.SI), Southeast Asia’s biggest lender, posted a record quarterly profit on Thursday and joined rivals in beating expectations as falling bad debts and strong trading income helped it overcome low interest rates.
But weak margins on loans at Singapore banks due to low US rates and an expected economic slowdown in the months ahead could slow the pace of earnings recovery this year.
Mainboard-listed Excelpoint Technology says net profit improved 93.5% to US$0.9 million ($1.16 million) during the quarter for the quarter ended 30 September 2010 (3QFY2010) from US$0.5 million in 3Q FY2009.
The group also saw a 41.3% increase in revenue, which rose to US$135.2 million in 3Q FY2010 from US$95.7 million in 3Q FY2009.
Roxy-Pacific Holdings, the homegrown specialty property and hospitality group, today reported a 42% jump in net profit to $8.9 million for the third quarter ended September 30, 2010 (3Q2010) from $6.3 million in the previous corresponding period (3Q2009).
This increase was on the back of a 41% surge in revenue to $53.1 million in 3Q2010, driven mainly by a sharp 44% rise in revenue to $40.5 million from the group’s Property Development segment.
Mainboard-listed Cosco Corporation (Singapore), the leading ship repair & marine engineering and shipping group, today says net profit attributable to equity holders of the company soared 147.4% to $55.1 million for the third quarter ended 30 September 2010 (3Q 2010) from $22.3 million in 3Q 2009.
Group turnover increased 26.7% to $952.7 million in 3Q 2010 on the back of higher progressive revenue recognition for the group’s ship building and offshore marine engineering projects and higher dry bulk shipping revenue. Ship building, repair and marine engineering turnover rose 27.4% to $918.7 million in 3Q 2010 on progressive completions of projects. Turnover from dry bulk shipping business increased 13.7% to $30.4 million in 3Q 2010 due to higher charter rates strategically secured at the points of charter renewals.
Macquarie International Infrastructure Fund achieved a net income on an adjusted basis (net income) of $37.8 million for the nine months to 30 September 2010, down $13.9 million from the prior corresponding period. Net income for the quarter was $33.2 million, up $9.6 million on Q3 2009.
SIA Engineering has posted earnings of $66.5 million for the 2Q ending Sept 30, 2010, or 8.8% higher than the corresponding quarter last year.
Revenue rose $29.0 million or 11.7% to $277.1 million. This was mainly due to an increase in airframe and component overhaul work, fleet management programme revenue and material usage.
Share of profits from associated and joint venture companies increased $5.8 million or 18.1% to $37.8 million. This represents a contribution of 49.7% to the group’s pre-tax profits.
Mainboard-listed Liang Huat Aluminium says the group reported a net profit of $3.2 million for the third quarter ended 30 September 2010 on the back of $25.7 million in revenue.
Peter Tan Yong Kee, Group Managing Director and CEO of Liang Huat Group, says: “The group continued to turn in a profit due to the continued efforts to secure selectively higher value-added projects and its healthy financial and cashflow position which has enhanced the ability of the Group to grow in the competitive operating environment”.
The group’s current gross order books stand at $45.9 million.
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Synear Food Holdings, the China manufacturer of dumplings and frozen food, say net profit for the third quarter ended September 30, 2010 fell 45.2% to RMB18.95 million ($3.7 million) due to higher cost of sales. Revenue fell 2.4% to RMB 398.90 million.
Its earnings were also hit by the higher amortisation and depreciation costs for its new Zhengzhou and Guangzhou factories.
Synear expects the economic climate and business conditions to remain very challenging in 4Q due to the rising raw material prices and labour costs. As a result, it is postponing the start of the operations at its new Guangzhou plant.
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Mainboard-listed Eratat Lifestyle, the China-based casual fashion footwear and apparel, today says net profit surged by 108.0% to RMB44.1 million ($8.5 million) for its second quarter (2Q2010) ended on 30 September 2010 and climbed 25.8% to RMB71.2 million in the half year ended on 30 September 2010 (1H2010).
Group revenue for 2Q2010 increased by 20.3% to RMB275.2 million mainly due to the increase in sales contribution by higher margin apparel, as well as increase in ex-factory average selling prices (ASP), following the repositioning of Eratat as a mass appeal and casual lifestyle wear brand.
