THE following companies saw new developments that may affect trading of their securities on Wednesday (May 18):
Sembmarine: SEMBCORP Marine is expecting a “significantly better” financial performance for its upcoming half-year results due to new contract and order developments as well as an improving industry outlook.
This was stated by the marine and offshore engineering group in its Q1 interim business update on Wednesday (May 18), where it said 6 of 12 projects scheduled for delivery in FY2022 have been completed in the year to date (YTD).
Netlink: FIBRE network infrastructure owner NetLink NBN Trust reported a 0.8 per cent year-on-year increase in distribution per unit (DPU) to 2.57 Singapore cents for the 6 months ended March 31, 2022.
Revenue for the 6-month period was 1.4 per cent higher at S$189.68 million on the back of higher connections revenue, which was partially offset by lower Central Office revenue. Meanwhile, profit attributable to unitholders rose 2.3 per cent to S$51.18 million.
Frencken: FRENCKEN Group’s net profit fell 12.6 per cent year-on-year to S$12.8 million in Q1 due to higher costs and heightened supply chain challenges in the second half of FY2021.
“Higher prices of materials, freight and energy in 1QFY22 compared to 1QFY21 have driven up input costs and the group is working on cost mitigation actions,” the mainboard-listed company said in a business update on Tuesday (May 17).
Revenue went up 9.3 per cent year-on-year to S$198.4 million, driven primarily by double digit sales of the group’s mechatronics division, which accounted for 87.1 per cent of the manufacturer’s revenue in Q1.
CSE Global: REVENUE for mainboard-listedCSE Global rose 5.8 per cent to S$117.6 million in the first quarter ended Mar 31, 2022, from S$111.2 million in the year-ago period.
This came mainly from growth in the mainboard-listed company’s infrastructure projects in the Asia-Pacific, particularly from utility and government customers in Australia, it said in a business update on Tuesday (May 17).
Infrastructure grew some 56.6 per cent year on year to S$47.3 million in Q1, driven by higher revenue contributions across Australia, Singapore, the United Kingdom and the United States, due to increased investments in public and critical infrastructure.
Hwa Hong: SUBSTANTIAL shareholders of property playerHwa Hong Corporation have made a voluntary conditional cash offer of S$0.37 per share to take the company private.
The offeror, Sanjuro United, is the bid vehicle of a consortium formed by shareholders of the company that collectively hold around 20 per cent of its shares.