THE following companies saw new developments that may affect trading of their securities on Tuesday (May 9):
SIA Engineering: AIRCRAFT maintenance provider SIA Engineering Company (SIAEC) recorded a 20.4 per cent fall in net profit to S$33.9 million for the six months ended Mar 31, 2023, from S$42.6 million the year before.
This is while revenue for the second half rose 43.4 per cent to S$433.8 million, from S$302.6 million a year earlier, as an increase in flight activities continued to drive demand for aircraft maintenance and overhaul services, said the mainboard-listed company in a regulatory filing on Monday (May 8) night.
While the recovery of flight activities following the lifting of pandemic-era border restrictions have led to a pick-up in demand for maintenance and overhaul services, the group saw expenditure rise by 39.9 per cent due to the progressive step-down of government wage support, as well as higher manpower and material costs.
Paragon Reit: PARAGON Reit reported on Monday (May 8) a 0.6 per cent year-on-year increase in first-quarter gross revenue for its portfolio on the back of higher revenue both in Singapore and Australia.
In a business update filed on the Singapore Exchange, the real estate investment trust’s manager said that portfolio gross revenue had increased to S$72 million for the three months ended Mar 31, 2023, from S$71.6 million in the year-ago period.
In local currency terms, Singapore assets gross revenue grew 0.7 per cent on year, while Australia assets gross revenue rose 8.1 per cent year on year, the manager said. However, the Australian dollar had a weaker exchange rate against the Singapore dollar in Q1 FY23 compared to a year earlier.
Riverstone: MALAYSIAN glovemaker posted a 57 per cent drop in net profit to RM46.7 million (S$13.9 million) for the first quarter ended Mar 31, 2023, from RM108.7 million in the year-ago period.
This was mainly due to higher cost of sales and lower average selling prices of healthcare gloves, the mainboard-listed company said in a regulatory filing on Monday (May 8).
Earnings per share stood at 3.15 sen for the first quarter, down from 7.34 sen in the previous year.
Plato Capital: CATALIST-LISTED Plato Capital said on Monday (May 8) that its 70 per cent subsidiary, Positive Carry, has entered into a conditional sale-and-purchase agreement (SPA) to sell its 27 per cent stake in TYK Capital to a Singapore-based private equity firm for a consideration of RM120 million (S$35.8 million).
In a bourse filing, Plato Capital said that its 70 per cent share of the sale consideration will be RM84 million. The disposal is expected to result in a gain to the group of around S$18.6 million, Plato Capital said. Its share of the carrying amount of Positive Carry’s investment in TYK was S$6.5 million as at Dec 31, 2022.
Plato Capital previously said in January that it had received a non-binding offer for the TYK stake. It announced on Monday that the buyer is Enzo II Holdings, a special-purpose vehicle managed by Singapore-based private equity firm PrimeMovers Equity (S). The buyer is an existing shareholder of TYK.
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