THE following companies saw new developments that may affect trading of their securities on Friday (Feb 16):
SINGAPORE Airlines (SIA) recorded a year-on-year, 14.4 per cent rise in group passenger traffic to 12.6 billion for January 2024, it said on Thursday (Feb 15).
Within the group, the flagship airline’s revenue passenger-kilometres rose 14.3 per cent to 9.6 billion from 8.4 billion year on year. Passenger traffic, expressed as revenue passenger-km, indicates the number of passengers carried multiplied by the distance flown.
Passenger capacity across the group rose 16.5 per cent on-year to 14.7 billion from 12.7 billion, outpacing January’s revenue passenger-km due to the shift in the Chinese New Year to February.
Fraser and Neave (F&N) on Thursday (Feb 15) announced that its Malaysian unit Fraser & Neave Holdings Berhad (F&NHB) has agreed, through a subsidiary, to lease an industrial land parcel in Cambodia for a total consideration of US$3.9 million.
Bursa Malaysia-listed F&NHB intends to build a dairy manufacturing facility on the 32,200 square metre (sq m) land parcel, which it has leased for 50 years starting from Feb 1, 2024, noted F&N in the announcement. The statement was also filed on the Malaysian bourse.
SIA Engineering Company (SIAEC) has reported net profit of $26.9 million for the 3QFY2023/2024 ended Dec 31, 2023, more than double its net profit of $12.8 million in the corresponding period last year.
Net profit for the 9MFY2022/2023 also increased 90.3% y-o-y to $86.2 million.
Revenue for 3QFY2023/2024 improved 40.2% y-o-y to $291.7 million while group expenditure rose at a lower rate of 33.8% y-o-y to $295.1 million mainly due to an increase in manpower costs and material costs.
Jiutian Chemical Group has issued a profit warning for FY2023 ended Dec 31, 2023, saying it expects to announce a net loss for the full-year period.
In a Feb 15 bourse filing, its Board of Directors says this is mainly due to a decline in the average selling prices of its main products — dimethylformamide and methylamine — arising from an industry-wide softening of demand and significant production capacity added by a new competitor since 4Q2022.
The competitor is Jiangxi Xinlianxin Chemical Industry, a subsidiary of Henan XinLianXin Chemical Group Co. Ltd.
Silverlake Axis has reported earnings of RM89.3 million ($25.2 million) for the 1HFY2024 ended Dec 31, 2023, an 11% decrease compared to its earnings of RM99.7 million in the corresponding period last year.
Revenue in the half-year period increased 1% y-o-y to RM397.4 million while cost of sales increased 9% y-o-y to RM177.2 million.
The company's total recurring revenue, which gives better earnings visibility and accounts for 75% of its overall revenue, increased 7% y-o-y to RM298.8 million.
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