To The Moon

THE following companies saw new developments that may affect trading of their securities on Wednesday (May 11):

Singapore Airlines (SIA): THE Competition and Consumer Commission of Singapore (CCCS) has granted conditional approval of the proposed commercial cooperation between Singapore Airlines (SIA) and Malaysia Airlines Berhad (MAB).

This comes after the competition watchdog accepted a set of proposed commitments from both flag carriers, CCCS said in a press statement on Tuesday (May 10) evening.

Riverstone Holdings (AP4): MALAYSIAN glove maker Riverstone Holdings on Tuesday (May 10) posted a net profit of RM108.7 million (S$34.5 million) for the first quarter ended Mar 31, 2022, about one-fifth of the RM522.7 million net profit it booked in the year before.

Average selling prices of healthcare gloves have come off the historic highs of Q1 2021. With the majority of the world adopting an endemic approach to Covid-19, demand for personal protection equipment, including the group’s healthcare examination glove products, has normalised, the group noted in its bourse filing.

UMS Holdings (558): MAINBOARD-LISTED precision-engineering company UMS Holdings’ net profit for the first quarter ended Mar 31, 2022 rose 26 per cent year on year to S$19.4 million from S$15.4 million previously.

It also announced an interim dividend of 1 Singapore cent per share for the quarter ended March 31.

PropNex (OYY): REAL estate agency PropNex on Wednesday (May 11) posted a 6.1 per cent dip in net profit to S$13.9 million for the first quarter ended Mar 31, 2022, compared to net profit of S$14.8 million the previous year.

Earnings per share for the period fell 6.2 per cent to 3.76 Singapore cents, from 4.01 cents the year before.

Revenue for the quarter grew 9.5 per cent year on year to S$241.6 million from S$220.6 million, driven by higher commission income from agency services on higher transactions completed.

Centurion (OU8): GROUP revenue for mainboard-listed Centurion Corp rose about 47 per cent to S$45.1 million in the first quarter ended Mar 31, 2022, from S$30.7 million in the year-ago period.

This was mainly driven by an enlarged portfolio capacity and new business streams in its purpose-built workers’ accommodation (PBWA) segment across Singapore and Malaysia, as well as recovery in the financial occupancy of its purpose-built student accommodation (PBSA) in the UK and Australia.

In a business update on Tuesday (May 10) night, the property management company said the average financial occupancy of its Singapore PBWA assets improved after travel restrictions were eased over the second half of 2021, and arrivals resumed for dormitory-bound work pass holders via travel lanes.