THE following companies saw new developments that may affect trading of their securities on Friday (August 19):
Singapore Post: STEEPER costs and challenges in the core post and parcel business weighed on the performance of Singapore Post for Q1 ended June, with operating profit falling 46.7 per cent to S$10.6 million.
This came even as SingPost’s Q1 revenue rose 34.7 per cent to S$475.2 million, as it enjoyed higher contributions from its Australia business, including Freight Management Holdings (FMH), the company disclosed in a Friday (Aug 19) business update.
OCBC Bank: OCBC Bank said on Thursday (Aug 18) that its “Eco-Care” electric vehicle (EV) loan business has more than doubled since launching in March 2021.
“With the surge of demand and interest in EVs, the bank expects the overall OCBC ‘Eco-Care’ car loan business to achieve growth of more than 250 per cent by the end of the year,” OCBC said in a statement.
Marco Polo Marine: INTEGRATED marine logistics company Marco Polo Marine saw its revenue for the third quarter ended Jun 30 rise 139.5 per cent year on year.
This comes on the back of more ship repair activities, stronger demand from end customers and an increase in capacity following the completion of extension works on its Dry Dock 1 in Q2 2022.
Gross profit also rose 185.3 per cent to S$9.7 million, up from S$3.4 million previously, as both the shipyard and ship chartering segments experienced “tremendous growth”, the group noted in a business update on Thursday (Aug 18).