KS Energy defends suitability of Kris Wiluan to remain CEO, chairman

OFFSHORE and marine firm KS Energy is standing by the suitability of Indonesian tycoon Kris Wiluan to remain its executive chairman and chief executive officer, even as he faces 112 charges of alleged false trading and market rigging of his company’s shares.

EC World Reit’s Q2 DPU down 10.4% on income conservation

EC World Reit, commonly seen as a proxy to China’s e-commerce logistics growth, posted a distribution per unit (DPU) of 1.386 Singapore cents for Q2 ended June, down 10.4 per cent from a year ago on income retention amid a cautious outlook.

Hong Leong Finance posts 30.5% fall in H1 earnings, cuts interim dividend

HONG Leong Finance, the financial services arm of Hong Leong Group, had a 30.5 per cent fall in net profit to S$36.5 million for the half-year ended June, due to greater allowances for loans, in response to the risks of Covid-19.

Yeo Hiap Seng sinks into red for H1, cites Covid-19 impact

BEVERAGE maker Yeo Hiap Seng (YHS) posted a net loss of S$6.73 million for the six months ended June, reversing a net profit of S$14.6 million a year ago. The heritage brand cited the Covid-19 pandemic as the key reason for the red ink.

QAF multiplies H1 earnings 13 times to S$28.2 million

WITH a pandemic-fuelled bread boom, QAF, the maker of Gardenia bread, has multiplied its net profit 13 times on-year to S$28.2 million for the six months ended June.

Darco unit withdraws from proposed purchase of Canwaco; requests US$1m refund

THE Vietnamese subsidiary of Darco Water Technologies is pulling out of its proposed acquisition of a 90 per cent stake in Can Giuoc Water Works Limited (Canwaco), the mainboard-listed firm announced in a Friday bourse filing.

Venture’s H1 net profit down 28.2%; interim dividend raised

MAINBOARD-LISTED Venture Corp posted a 28.2 per cent fall in net profit to S$130.5 million for the six months ended June, as some customers pushed back orders amid the Covid-19 pandemic.

Asian Pay TV Trust’s Q2 net profit down 32.5% on higher costs

MAINBOARD-LISTED Asian Pay TV Trust recorded a 32.5 per cent drop in net profit to S$4.74 million for Q2 FY2020 ended June, amid an increase in operating costs and stiff pricing competition.

MUFG Bank and Israeli fintech to launch startup financing joint venture in Singapore

JAPAN’S MUFG Bank is set to launch a joint venture (JV) with an Israeli fintech in Singapore this year to provide debt financing to Asia-Pacific startups, especially those unable to access such funding from traditional financial institutions.

F&N's 9M earnings down 8.2% on pandemic, East Malaysia floods

THE net profit of beverage maker F&N fell 8.2 per cent to S$118 million for the nine months ended June, as topline took a hit from lower soft drink sales in Malaysia and printing-plant closures amid the Covid-19 pandemic.

Genting Singapore posts S$163.3m Q2 loss in worst quarterly showing since 2010

IN ITS worst quarterly performance since the opening of Resorts World Sentosa (RWS) in 2010, Genting Singapore logged a S$163.3 million net loss for Q2 FY2020 ended June, reversing a S$168.4 million net profit from a year ago.

Genting Singapore posts S$163.3m loss in Q2 due to Covid-19 closure

IN ITS worst quarterly showing since the opening of its Singapore integrated resorts (IRs) a decade ago, Genting Singapore logged a S$163.3 million net loss for Q2 FY2020 ended June. Its Q2 numbers reverse a S$168.4 million net profit from a year ago and a S$46.6 million net profit from Q1 this...

Wilmar’s Chinese unit gets nod from listing committee of Shenzhen Exchange

YIHAI Kerry Arawana (YKA), the Chinese unit of Wilmar International, has progressed a step further towards its long-awaited initial public offering (IPO).

Thakral posts 91% fall in H1 profit to S$241,000

PROPERTY investor Thakral Corp saw its earnings fall 91 per cent to S$241,000 for the six months ended June, as its topline shrank from Covid-19 related closures and lockdowns.

Sunningdale posts S$8.25m H1 net profit; lowers interim dividend to 1.8 cents

PRECISION manufacturer Sunningdale posted a S$8.25 million net profit for the six months ended June, reversing a S$292,000 loss from a year ago with some help from Covid-19-related government grants.

F&N's 9M earnings down 8.2% on Covid-19 impact, East Malaysia flood

THE net profit of beverage maker F&N fell 8.2 per cent to S$118 million for the nine months ended June, as its top line took a hit from lower soft drink sales in Malaysia and printing-plant closures amid the Covid-19 pandemic.

Penguin posts 53.2% drop in H1 earnings amid Covid-19, weak oil prices

THE net profit of Penguin International, which builds high-speed aluminium craft, plunged 53.2 per cent to S$3.9 million for the six months ended June, hit by the double whammy of the Covid-19 pandemic and weak oil prices.

Glove maker Riverstone doubles H1 earnings to RM137.5m

MALAYSIAN glove maker Riverstone Holdings posted a 119.3 per cent surge in net profit to RM137.5 million (S$45.27 million) for the six months ended June, driven by the spike in global demand for its healthcare examination gloves, clean-room gloves and face masks.

NetLink logs 12.4% rise in Q1 net profit despite labour constraints

FIBRE-OPTIC cable owner NetLink NBN Trust posted a 12.4 per cent increase in net profit to S$23.5 million for Q1 FY2021 ended June, even as its top line shrank with restricted manpower and access amid the Covid-19 pandemic.

CSE Global's H1 earnings rise 47.7% on contributions from newly-acquired units

CSE Global, a tech-solutions provider to the oil and gas and mining industries, saw its earnings for the half year ended June 30 rise 47.7 per cent to S$15.1 million, on the back of contributions from its newly-acquired units in the US and Australia.

GARAGE: NEWS ANALYSIS

TradeGecko sale validates exit potential of similar Asean startups

THE sale of Singapore startup TradeGecko to Intuit Inc validates the exit potential of South-east Asia's Software-as-a-Service (SaaS) startups, showing that there is substance to the hype, venture investors tell The Business Times.

Atlantic Navigation, Seroja, Luzhou Bio-Chem, Ntegrator expect H1 losses

FOUR SGX-listed firms have guided for expected losses for the six months ended June: Atlantic Navigation, Ntegrator International, Seroja Investments and Luzhou Bio-Chem Technology.

Procurri’s H1 earnings up 1.4% with lift from government relief

PROCURRI Corp, a provider of data-centre equipment and life-cycle services for IT hardware, maintained relatively flat earnings of S$2.65 million for H1 FY2020 ended June, up 1.4 per cent from a year ago.

Yangzijiang's Q2 net profit falls 17% on lower trading volume

YANGZIJIANG Shipbuilding posted a 17-per-cent drop in net profit to 773.9 million yuan (S$154.5 million) for Q2 FY2020 ended June, as its top line took a hit from lower contributions from the trading business. 

CSE Global’s H1 earnings rise 47.7% with newly-acquired US, Aussie units

CSE Global, a tech-solutions provider to the oil and gas and mining industries, saw its earnings for H1 FY2020 ended June rise 47.7 per cent to S$15.1 million, on the back of contributions from its newly-acquired units in the US and Australia.