THE following companies saw new developments that may affect trading of their securities on Friday (Nov 11):
Keppel Corporation (BN4): The wholly-owned subsidiaries of Keppel Offshore & Marine (Keppel O&M) have signed bareboat charter contracts with ADES Saudi Limited Company for two jackup rigs to be deployed in Saudi Arabia, bringing the total number of rigs Keppel O&M has on charter with ADES to four.
In a press statement on Friday (Nov 11), Keppel Corporation said the charters are projected to generate revenue of about S$155 million for Keppel O&M, including modification works to prepare the rigs for deployment.
The charters will be for a period of five years and are expected to commence in H1 2023.
NIO (NIO): Chinese electric vehicle (EV) maker Nio reported on Thursday (Nov 10) a wider net loss of 4.1 billion yuan (S$801.4 million) during its third quarter, despite higher vehicle sales and total revenue.
The net loss for the 3 months ended Sept 30, 2022, was 44.9 per cent higher year-on-year and an increase of 50.9 per cent from the net loss it reported in Q2 FY2022.
The wider losses were posted despite stronger total revenue, which rose to 13 billion yuan, from 9.8 billion yuan in Q3 2021.
Looking ahead, Nio expects to deliver between 43,000 to 48,000 vehicles in the fourth quarter of this year, an increase of between 71.8 per cent and 91.7 per cent from Q4 2021.
Total revenue in Q4 2022 is expected to also rise a similar amount to be between 17.4 billion yuan and 19.2 billion yuan, the company said.
Genting Singapore (G13): Genting Singapore reported on Thursday (Nov 10) a more than 100 per cent increase in net profit for its third quarter, on the back of stronger gaming and non-gaming revenue.
Net profit for the three months ended Sep 30, 2022, rose to S$135.8 million from S$60.7 million in the same period a year ago, the operator of Resorts World Sentosa (RWS) said in a business update filed to the Singapore Exchange.
The Q3 net profit was also significantly higher than the S$44.1 million net profit posted in the second quarter of FY2022.
F&N (F99): Beverage and publishing company Fraser and Neave (F&N) on Thursday (Nov 10) announced an 11.1 per cent drop in net profit to S$124.9 million for the financial year ended Sep 30, from S$140.4 million the year before.
This comes despite the company recording a 6.6 per cent year-on-year increase in revenue to S$2 billion from S$1.9 billion, it said in a bourse filing.
Revenue growth was fuelled by its beverages segment, which was lifted by higher beer and soft drinks volumes, higher selling prices and a strong performance in the second half of the financial year, when beer sales almost doubled amid a number of successful promotion campaigns and new product launches.
Sasseur Reit (CRPU): China-based outlet mall operator Sasseur REIT announced in its business update that its 3QFY2022 ended September distribution per unit (DPU) came in at 1.838 cents some 0.4% higher than the previous year.
This came on the back of a 1.2% y-o-y increase in distributable income to $23.5 million.
This was despite its entrusted manager agreement (EMA) rental income coming in at $30.8 million, 2.1% lower than the previous year. This was due to a 3.3% y-o-y drop in the variable component, while the fixed component cushioned the drop with a 3.0% y-o-y increase.
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