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Reports Singapore

Singapore stock market and companies daily report (China YuanBang, Saizen REIT, Silverlake Axis) (August 27, 2014)

August 27, 2014, Wednesday, 05:25 GMT | 01:25 EST | 08:55 IST | 11:25 SGT
Contributed by Shares Investment

Advanced Integrated Manufacturing Corporation (AMC) bagged a third party logistic services project from Honeywell International for a period of five years. The project will involve transferring the management of existing employees and facility in Honeywell Aerospace Avionics Malaysia’s logistic department to AMC Penang. Further, AMC Penang will be able to utilise Honeywell Honeywell Aerospace Avionics Malaysia’s material handling equipment at the facility.

China Yuanbang Property Holdings posted a 53.1 percent gain in revenue to Rmb1.3 billion for the full year ended 30 June 2014, mainly due to the handing over of commercial units from phase two of Aqua Lake Grand City. Helped further by a 41 percent gain in fair value adjustments on investment properties, earnings jumped 49.3 percent. The group has declared a final dividend per share of Rmb0.01 with a payable date that will be announced on a later date.

Saizen Real Estate Investment Trust posted a 3.4 percent gain in revenue to JPY4 billion for the full year ended 30 June 2014, underpinned by contributions from seven newly acquired properties. Amount attributable to unitholders gained 27 percent to JPY2.1 billion. The trust has declared a distribution per unit of $0.031 for the six months.

Silverlake Axis’s revenue ascended 25.6 percent to RM500.7 million for the full year ended 30 June 2014, as a result of higher contributions across the board except for its software project services segment. In tandem with higher gains of interest and other income, earnings climbed 27 percent to RM248.9 million. The group has declared both a final and special dividend per share of $0.012 and $0.006 respectively that are payable on 27 November 2014.

Revenue of Wing Tai Properties’, an associated company of Wing Tai Holdings, was up more than three times to HK$1.3 billion for the six months ended 30 June 2014, stemmed from the recognition of revenue from pre-sold units of The Pierre in 2014, higher rental and property management income. Coupled with a 62.9 percent increase in fair value of investment properties, earnings soared 54.6 percent to HK$1.6 billion. The company has declared an interim dividend per share of HK$0.042 that is payable on 3 October 2014.