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Singapore stock market and companies daily report (Genting S’pore, Thai Beverage, UOB-Kay Hian) (August 15, 2014)

August 15, 2014, Friday, 03:47 GMT | 22:47 EST | 08:17 IST | 10:47 SGT
Contributed by Shares Investment


Genting Singapore PLC recorded a 6.1 percent increase in revenue to $751 million in 2Q14, on the back of higher contributions from its gaming business in Resorts World Sentosa. However, due to a decrease in other operating income, coupled with increases in administrative and other operating expenses, net profit fell 22.4 percent to $131.7 million in 2Q14. For the six-month period, revenue rose 14.7 percent to $1.6 billion and earnings jumped 23.7 percent to $389.2 million.

Halcyon Agri Corporation’s revenue decreased 31.1 percent to US$37.2 million in 2Q14, mainly due a drop in sales volume and lower average selling prices. Gross profit fell 37.1 percent to US$3.4 million mainly due to a decrease in gross material profit as a result of a restricted supply of raw materials. Consequently, net profit shrunk 76.7 percent to US$622,000.

Healthway Medical Corporation reported a 3.6 percent increase in revenue to $20.8 million in 2Q14. On the other hand, other operating income plunged 93.6 percent to $2.4 million, mainly due to lower gain on disposal of available-for-sale financial assets reclassified from equity. As a result, 2Q14’s net profit dipped 97.7 percent to $520,000. For the six-month period, revenue rose 6.1 percent to $42.8 million while earnings shrunk 92.1 percent to $1.9 million.

Singapore Medical Group’s revenue grew 11.3 percent to $13.2 million in 1H14, mainly attributable to the increase in income of its health segment, partially offset by a decrease in its aesthetics segment. Coupled with a decrease in financial, distribution and selling and expenses, the company returned to the black with earnings of $136,000.

Swissco Holdings’ four subsidiaries of Scott and English Energy have secured charter contracts worth a total of approximately US$94.8 million. The contracts entail the provision of four mobile offshore drilling units for up to two years. The company noted that upon deployment, the charters are expected to have a positive impact on group’s earnings per share for the financial year ending 31 December 2014.

Thai Beverage Public Company has reported an 8.7 percent increase in revenue to THB40 billion in 2Q14, due to increases in sales income of the spirits, beer and food businesses. The increase in turnover outpaced the rise in total costs and expenses and subsequently, net profit jumped 12.2 percent to THB5.5 billion in 2Q14. Similarly, 1H14’s revenue and net profit grew 6.7 percent and 37.2 percent respectively, to THB81.1 billion and THB11.5 billion.

The Straits Trading Company registered a 23.1 percent decline in revenue to $173.1 million in 2Q14, as a result of the company’s transformation to an investment company through the divestment of the hospitality business and the sale of the portfolio of market securities recorded in 2Q13. Consequently, earnings slipped into the red with net loss of $5.8 million in 2Q14. For 1H14, revenue fell 16.2 percent to $343.4 million and net profit contracted 99.8 percent to $131,000.

TT International reported a 16.4 percent drop in revenue to $66 million in 1Q15. Gross profit margin declined 2.8 percentage points to 18.3 percent as the decrease in turnover was larger than the fall in costs of goods sold. Coupled with an increase in staff costs, finance and other operating expenses, losses slipped deeper into the red with a net loss of $12.8 million in 1Q15.

UOB-Kay Hian Holdings’ total revenue contracted 10.5 percent to $100.4 million in 2Q14, mainly due to lower commission income as trading volumes remained low in regional markets. Together with a decline in foreign exchange gains and a slight increase in total expenses, earnings decreased 36.8 percent to $16.8 million in 2Q14. For the six-month period, revenue and net profit fell 14.3 percent and 40.7 percent respectively, to $195.4 million and $34.7 million.