THE following companies saw new developments that may affect trading of their securities on Monday (Aug 8):
Yangzijiang Shipbuilding (BS6): Yangzijiang Shipbuilding (Holdings) has posted a 32 per cent increase in net profit from continuing operations to nearly 1.2 billion yuan (S$244.7 million) for the first half ended June, from the year-ago figure of 884.6 million yuan.
The annualised return on equity rose to 14 per cent in H1 2022 from 9 per cent in H1 2021.
These figures, released by the group on Sunday (Aug 7), exclude earnings from investment segment, which was spun off to Yangzijiang Financial Holding in April.
Keppel Infrastructure Trust (A7RU), Keppel (BN4): The trustee-manager of Keppel Infrastructure Trust (KIT), the trust’s sponsor, as well as Keppel Asia Infrastructure Fund (KAIF) and a co-investor, are fully acquiring Eco Management Korea Holdings (EMK), a South Korean waste management company, for 626.1 billion won (S$666.1 million).
KIT will hold a 52 per cent stake in the special purpose vehicle through which the acquisition is to be made, it announced in Monday’s (Aug 8) pre-trade hours. KAIF will hold 30 per cent while Keppel Infrastructure Holdings (KI) – KIT’s sponsor and a unit of Keppel Corp – will own 18 per cent.
EMK is an integrated waste management services player in South Korea, serving the national market. It operates 6 waste-to-energy (WTE) plants and 5 sludge drying facilities.
Lendlease Reit (JYEU): LENDLEASE Global Commercial Reit (Lendlease Reit) on Monday (Aug 8) posted an improved H2 performance, with distribution per unit (DPU) gaining 4.9 per cent to S$0.0245 from S$0.0234 a year ago.
Gross revenue was also 68.6 per cent higher at S$62.5 million, following the acquisition of Jem in the second half of FY2022.
Net property income (NPI) for the real estate investment trust (Reit) grew 72.9 per cent year on year to S$45.9 million in H2, from S$26.5 million earlier.
OUE Lippo Healthcare (5WA): CATALIST-LISTEDOUE Lippo Healthcare (OUELH) on Friday (Aug 5) posted a 93 per cent drop in net profit to S$8.4 million for its half year ended Jun 30, 2022, from S$113.8 million a year earlier. Its revenue, however, was several times that of the previous years: S$42.6 million for H1 FY2022, versus S$9.7 million for H1 FY2021.
The company’s financial statement was laden with exceptional items, reflective of a restructuring and the shuffling of control of assets among related companies by the healthcare group’s parent OUE.
Most of the increase in OUELH’s revenue came from the consolidation of First Reit, a healthcare Reit within the OUE stable.
Fraser and Neave (F99): BEVERAGE and publishing company Fraser and Neave (F&N) on Friday (Aug 5) posted a 18.3 per cent drop in net profit to S$97.3 million for the 9 months ended June 30, 2022, from S$119.1 million the year before.
This comes despite the company reporting a revenue of S$1.5 billion for the 9 months, up 2.4 per cent from the same period the preceding year, it said in a business update. F&N said revenue growth was fuelled by its beverages segment, lifted by higher beer and soft drinks volume, alongside higher selling prices.
On the other hand, revenue from its dairies segment fell 3 per cent due to “unfavourable” foreign currency translation and lower export sales, the group said, though this was offset partly by higher selling prices.