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Stocks to watch: City Developments, Singtel, Ezion, Nam Cheong

Thursday, August 11, 2016 - 08:27
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Singtel on Thursday posted a 0.3 per cent increase in its net profit for the first quarter ended June 30, 2016, to S$944.3 million.

City Developments: CDL said on Thursday its net profit for the second quarter ended June 30, 2016, stayed flat at about S$133.8 million. This was despite revenue growing 32.4 per cent to S$1.1 billion, underpinned by the revenue and profit recognition from Lush Acres, a fully sold executive condominium.

Singtel: Singtel on Thursday posted a 0.3 per cent increase in its net profit for the first quarter ended June 30, 2016, to S$944.3 million. Revenue fell 7.1 per cent to S$3.9 billion, hit by the decline in mobile termination rates in Australia, depreciation of the Australian dollar, higher mobile service credits from device repayment plans and lower equipment sales.

Ezion Holdings: Ezion reported on Thursday that its net profit for the second quarter ended June 30, 2016 fell 31.5 per cent to US$19.8 million, compared to about US$29 million a year ago. Revenue was down 7 per cent at US$83.7 million from US$90.1 million as a few service rigs had undergone modifications and routine class surveys.

Nam Cheong: Nam Cheong on Thursday posted a plunge in net profit to RM3 million (S$1.01 million) for its second quarter ended June 30, 2016, down from RM10.7 million a year ago. The Malaysia-headquartered offshore marine group's revenue fell 39 per cent to RM117.4 million due to a revenue drop from the shipbuilding segment and vessel chartering segment.