TOPLINE

Reits in high-growth markets should gun for short leases: KORE CEO Snyder

DAVID Snyder, the CEO of Keppel Pacific Oak US Reit (KORE), doesn't believe in long weighted average lease expiries (WALEs), because he thinks it prevents landlords from realising positive rent increases for good properties located in strong markets.

Chip Eng Seng reverses to losses in H1 2020 on Covid-19 impact

PROPERTY development and construction firm Chip Eng Seng on Monday posted a net loss of S$24.4 million for its first half ended June 30, reversing from a net profit of S$15.2 million a year ago.

Hong Leong Asia bags 97.23% of Tasek at close of offer

HONG Leong Asia on Monday said it has garnered 97.23 per cent shareholding in cement manufacturer Tasek Corp Bhd as at the close of the unconditional voluntary takeover offer.

CGS-CIMB drops target price on loss-making AirAsia X to zero

CGS-CIMB has cut its target price on AirAsia X Berhad (AAX) to zero on a "reduce" rating, following its dismal first-quarter results and amid fears that the budget carrier would fail to secure much-needed funding.

Hyphens Pharma expands brand portfolio with hair-loss products

HYPHENS Pharma on Monday said that it has procured all rights, titles and interests in the trademarks of hair-loss products CG 210 and CG4S from Legacy Healthcare (Switzerland) for Singapore and Malaysia, paving the way for it to sell and distribute the CG 210 product series and the CG4S shampoo...

TA Corp expects 'significant net loss' for H1 2020

PROPERTY and construction firm TA Corporation on Monday flagged that it expects to report a "significant net loss" for H1 2020 and consequently, expect a loss for the full year ending Dec 31, 2020.

LMIRT completes divestment of Binjai Supermall for 262b rupiah

THE manager of Lippo Malls Indonesia Retail Trust (LMIRT) said on Monday that it had completed the divestment of Binjai Supermall for 262 billion rupiah (S$24.5 million).

Suntec Reit announces completion of premium Melbourne office development

SUNTEC Reit announced on Monday that its office development, Olderfleet, at 477 Collins Street in Melbourne, Australia, received practical completion on July 31, 2020.

AEM's net profit more than doubles on higher revenue

SEMICONDUCTOR play AEM Holdings on Monday reported a more than doubling in first-half net profit to S$55.3 million, from S$22.3 million a year ago. This came on the back of higher revenue, favourable product mix and operational cost-efficiency.

CapitaLand pares stake in Guangzhou development unit for S$78.6m

CAPITALAND on Monday said that it and other shareholders have, through a series of transactions, divested an aggregate 40 per cent equity stake in Guangzhou Kai Ke Xing Mao Real Estate Development (GKK) to an unrelated purchaser for RMB395.7 million (S$78.6 million).

STOCKS

STI down 1.9% over the week on profit slides and misses

AS THE impact of Covid-19 becomes clearer, with more companies posting earnings declines and misses, the Straits Times Index (STI) on Thursday also fell 43.63 points or 1.7 per cent to 2,529.82. Losers outnumbered gainers 289 to 184, after about 1.99 billion securities worth S$2.97 billion...

STI down 1.9% over the week on earnings declines and misses

AS THE impact of Covid-19 becomes clearer, with more companies posting earnings declines and misses, the Straits Times Index (STI) on Thursday also fell 43.63 points or 1.7 per cent to 2,529.82. Losers outnumbered gainers 289 to 184, after about 1.99 billion securities worth S$2.97 billion...

SIA S$1.12b in the red for Q1; analysts see FY21 loss of S$1.83b

SINGAPORE Airlines (SIA) swung into a net loss of S$1.12 billion for its first quarter ended June 30, 2020, compared to a net profit of S$111 million a year ago, due to its weaker operating performance and financial impact of S$127 million from the liquidation of low-cost airline NokScoot.

Sheng Siong's Q2 net profit more than doubles to S$46.2m

SUPERMARKET chain Sheng Siong's net profit more than doubled in its second quarter to S$46.2 million, from S$18.4 million a year ago, on the back of strong revenue growth, improved gross margin, and government grants.

STOCKS

STI down 0.37% on muted trading, regional markets' performance mixed

MUTED trading continued among Singapore's blue chips, with the Straits Times Index (STI) down 9.52 points or 0.37 per cent to 2,573.45. Losers outnumbered gainers 215 to 185, after about 1.33 billion securities worth S$1.29 billion changed hands.

Animal protein, dairy segments drive six-fold increase in Japfa's H1 earnings

INDUSTRIAL agri-food company Japfa's net profit for its first half grew six times to US$76.8 million, thanks to better operating profit in its "other animal protein" segment, which was driven by continued high average selling prices for fattened pigs - in turn the result of a shortage of pork...

Lian Beng posts 12.8% drop in net profit

LIAN Beng on Wednesday posted a 12.8 per cent drop in net profit to S$28.7 million in its FY20 ended May 31.

Portfolio valuation, Covid impact leads to Hongkong Land's US$1.8b H1 net loss

PROPERTY developer and investment company Hongkong Land on Wednesday announced that it made a net loss of US$1.8 billion in its first half ended June 30, compared to a net profit of US$411 million a year ago.

Dairy Farm's H1 net profit drops 35% on Covid-19 impact

DAIRY Farm International on Wednesday posted a 35-per-cent drop in net profit to US$115 million, despite a 6 per cent increase in total sales to US$14.5 million. 

OUE and Fragrance Group expect net losses for H1 2020

TWO property companies - OUE and Fragrance Group - have flagged guidance of losses made in the first six months of this year.

Sheng Siong’s Q2 net profit surges on Covid-19 demand, doubles dividend

SUPERMARKET chain Sheng Siong’s net profit more than doubled in its second quarter to S$46.2 million, from S$18.4 million a year ago, on the back of strong revenue growth, improved gross margin and government grants. 

STI down 0.37% on muted trading

MUTED trading continues among Singapore’s blue chips, with the Straits Times Index (STI) down 9.52 points or 0.37 per cent to 2,573.45. Losers outnumbered gainers 215 to 185, after about 1.33 billion securities worth S$1.29 billion changed hands.

Singapore Airlines reports S$1.12b Q1 loss due to pandemic

SINGAPORE Airlines (SIA) swung into a net loss of S$1.12 billion for its first quarter ended June 30, compared to a net profit of S$111 million a year ago, due to its weaker operating performance and the financial impact of S$127 million from the liquidation of low-cost airline NokScoot.

STOCKS

Healthcare, mining stocks drive activity; STI up 0.28%

SINGAPORE shares rose on Tuesday, with the Straits Times Index (STI) up 7.18 points or 0.28 per cent to 2,582.97. Gainers outnumbered losers 237 to 185, after about 1.62 billion securities worth S$1.27 billion changed hands.

SunMoon's losses persist in FY20

SUNMOON Food Company on Tuesday posted a net loss to the tune of S$4.3 million for its fiscal year ended March 31, similar to net losses a year ago.