THE following companies saw new developments that may affect trading of their securities on Monday (Jul 25):
SATS (S58): MAINBOARD-LISTED inflight caterer and ground handlerSats on Friday (Jul 22) posted a net loss of S$22.5 million for the first fiscal quarter ended June, reversing from a net profit of S$6.4 million in the corresponding quarter last year.
The group attributed the net loss for the quarter to lower government grants and increased costs that were booked as the group invested in resources ahead of a full recovery by the aviation sector. Excluding government reliefs, losses for Q1 FY2023 would have stood at S$31.9 million, versus a net loss of S$35.6 million in Q1 FY2022.
IFast (AIY): FINTECH platform iFAST Corp on Saturday (Jul 23) reported a net loss of S$2.69 million for Q2 2022, reversing from a net profit of S$7.02 million a year ago. It was weighed down by a one-time impairment allowance following the restructuring of its India business.
Total revenue was 5.8 per cent higher at S$53.91 million, and included an initial contribution of S$3.92 million from iFAST Global Bank in the United Kingdom.
Pan Hong (P36): SINGAPOREExchange-listed property developer Pan Hong is cautiously optimistic that core housing demand in China will improve as Chinese cities start to introduce measures to support the housing market.
Sinjia Land (5HH): NO CHARGES have been brought against any of Sinjia Land’s board members and employees so far, including group chief executive officer Cheong Weixiong, the Catalist-listed company said in a statement on Friday (Jul 22).
This comes after the backpacker hostel operator announced earlier this week that Cheong, who is also the company’s executive director, was interviewed by the Commercial Affairs Department (CAD) in connection to an offence under the Securities and Futures Act.
Responding to queries from the Singapore Exchange (SGX), Sinjia Land said that it as far as it is aware, no other employees or board members have been asked to assist with the authorities’ investigations. No individuals were named in the letter dated Jul 19 from the CAD and the Monetary Authority of Singapore (MAS) either.
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