Corporate digest

SBS Transit

THE bus and train operator posted a 50.3 per cent rise in net earnings to S$47.1 million for the year ended Dec 31, 2017.

The substantial increase, which came on the back of a mere 8.5 per cent growth in revenue to S$1.2 billion, was thanks to the government bus contracting model, higher ridership and commencement of Downtown Line 3. Earnings per share stood at 15.17 Singapore cents, up from 10.12 cents. Net asset value per share was S$1.44, up from S$1.35.

Directors expect transport revenue to continue growing and are recommending a final dividend of 3.95 Singapore cents - up from 2.7 Singapore cents previously.

Hatten Land Limited

MALAYSIAN property developer Hatten Land's net profit fell 49.4 per cent to RM10.8 million (S$3.63 million) for the second-quarter ended Dec 31, 2017, on the back of higher selling and distribution expenses, as well as general and administrative expenses. This translated to an earnings per share of 0.79 sen, down from 1.80 sen last year.

For the second quarter, revenue dropped to RM43.4 million, or 61.8 per cent from RM113.8 million in the year-ago period, due to construction delays at Hatten City Phase 2.

No dividend has been declared for the quarter, unchanged from the previous year.

Hyflux

THE Securities Industry Council has clarified that Hyflux founder Olivia Lum's general offer to buy over the shares of HyfluxShop, the unlisted consumer business of Hyflux, will be subject to specific requirements of the Take-over Code. Under the Code, minority shareholders must be provided with sufficient time and information (including independent financial advice) to enable them to reach an informed decision on the offer.

Bukit Sembawang Estates

HIGHER sales and higher profit recognition on projects helped to push up third-quarter earnings at Bukit Sembawang Estates, the property developer said on Monday. Net profit for the three months to Dec 31, 2017, stood at S$10.7 million - double the S$5.35 million in the same period the year before - while turnover rose by 69 per cent year on year to S$17.53 million.

Civmec Limited

HIGHER contributions from existing contracts gave a fillip to Civmec's results in its second quarter ended Dec 31.

Net profit jumped to S$6.9 million from the previous year, the Western Australia-headquartered engineering services group said in a Singapore Exchange filing on Monday evening.

For the three months ended Dec 31, revenue rocketed 158.7 per cent to S$179.7 million from the year-ago period. The increase in revenue was due partly to higher contributions from existing contracts as projects ramped up during the period, Civmec said.

Cordlife

CORDLIFE Group reported a third consecutive quarterly net profit as its stem cell banking business continues to make inroads in its key markets. It attributed this to growing public awareness and appreciation of pre-emptive healthcare in Asia.

The company said it clocked a net profit of S$736,000 for the quarter ended Dec 31, 2017, compared to a net loss of S$2.28 million in the year-ago period. The turnaround came as revenue rose 7.6 per cent year-on-year to S$16.4 million in the quarter, driven mainly by higher contributions from India, Singapore and the Philippines.