Corporate digest

Mapletree Investments

ITS wholly-owned subsidiary Mapletree Treasury Services has launched and priced S$600 million of 3.7 per cent perpetual securities under its US$5 billion Euro Medium-Term Note programme.

In a press statement on Wednesday, the property developer and manager said it received orders in excess of S$1 billion "with participation from about 60 high-quality investors, albeit being a new perpetual structure in the SGD market". Proceeds from the offering will be used by Mapletree for general corporate purposes.

This represents the SGD market's first subordinated fixed-for-life perpetual issuance, said the property developer and manager. The securities will be unconditionally and irrevocably guaranteed by Mapletree.

Fraser and Neave (F&N)

BEVERAGE and publishing company Fraser and Neave (F&N) on Thursday posted a net profit of S$119.1 million in the nine months ended June 30, up 1.0 per cent from the previous year on higher beverage and dairy sales. Revenue for the three quarters was S$1.5 billion, up 5.8 per cent from the same period a year earlier.

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Profit before interest and tax (PBIT) from beverages rose 76 per cent to S$26.3 million. Earnings per share was 8.2 Singapore cents, up from 8.1 cents in the nine months last year. F&N shares fell one Singapore cent or 0.7 per cent to S$1.43 on Thursday before the results were announced after market close.

Excelpoint

THE net profit of Mainboard-listed Excelpoint Technology more than quadrupled to US$12 million for the half-year ended June, thanks to the elevated demand for semiconductors resulting from accelerated technology adoption. The company posted a 45.3 per cent rise in H1 revenue to US$740.9 million, due to higher sales from the Singapore and Hong Kong business units.

The company's shares closed at S$0.895 on Thursday, up 5.29 per cent.

Thakral

STRONG growth in the lifestyle and fragrance segment lifted the net profit of Thakral Corporation to S$8.9 million for the half-year ended June, up from S$241,000 a year ago.

The real estate player recorded a 44 per cent rise in H1 revenue to S$61.8 million, thanks to a 54 per cent increase in sales from the lifestyle segment to S$49.4 million. Revenue from the real estate division also rose 14 per cent to S$12.4 million.

Thakral has proposed an interim dividend of S$0.02 per share, up from S$0.01 a year ago. Shares of Thakral closed at S$0.51 on Thursday, down 1.92 per cent.

Hong Leong Finance

HONG LEONG Finance on Thursday said it made a net profit of S$44.7 million in the first-half, up 22.4 per cent from the same period a year earlier, thanks to a stepped-up effort in managing the cost of funds and lower loan loss allowances. Interest income and hiring charges in the six months ended June 30 came to S$123.1 million, down 30.9 per cent. Interest expense fell 64.7 per cent to S$33.9 million while net interest income rose 8.6 per cent to S$89.2 million.

The counter rose two Singapore cents or 0.81 per cent to S$2.48 on Thursday.