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Stock Headliners You Need To Know
Headliners | 30 July 2015
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By: Joey Ho
Articles (30) Profile

Fortune REIT announced total revenue of HK$922.6m for 1H15, increasing 13.4% from 1H14, boosting income available for distribution by 12.8% to HK$440.3m. The growth in revenue was mainly attributed to rental reversion of 22.1% across the portfolio and additional contributions from Laguna Plaza acquired in Jan-15. The valuation of the trust’s 17 retail properties was appraised at HK$35,238m as at 30 Jun-15, a 7.7% increase from HK$32,720m as at 31 Dec-14.

Global Logistic Properties (GLP) has entered into a definitive agreement to acquire a US$4.55b logistics portfolio. The portfolio is one of the highest quality portfolios in the US, comprising 58m square feet of logistics assets spread across 20 major markets. The portfolio was 93% leased as of 30 Jun-15, with a weighted average lease expiry of nearly 5.5 years, and GLP intends to increase the lease ratio to 95%. With this transaction, GLP will become the second largest logistics property owner and operator in the US as its US footprint gets enlarged by 50% to 173m square feet.

Lian Beng Group announced FY15 revenue of $747m, up 9.4% from the same period last year, while net profit grew 24% to $108m. Construction segment, the main revenue driver, surged by 46.7% or $200.2m, mainly due to higher revenue recognition from the on-going and new construction projects. Overall, the group’s performance was boosted by a $52.4m fair value gain arising from the gain from valuation of dormitory property after offsetting the loss from the valuation of other investment properties.

Parkway Life REIT announced 1H15 revenue of $50.4m increasing 1% from 1H14, while income available for distribution grew 14.8% to $39.7m. The revenue growth was mainly due to contribution from properties acquired in 1Q14, the trust’s asset recycling initiative, and higher rent from the existing properties offset by the depreciation of the Japanese yen. Overall, annualised distribution per unit was 13.12 cents outperforming 1H14 by 14.8%, mainly due to capital distribution of $4.6m being partial distribution of the gains arising from the divestment of 7 Japan properties in Dec-14 and higher rent from existing properties.

Raffles Medical Group announced 1H15 revenue of $194.3m, increasing 7.8% from 1H14, while net profit inched up 2.5% to $30.9m. The performance was attributed to positive contributions from all segments of the group, with healthcare services expanding by 5.7% and hospital services increasing by 6.6%. Staff costs increased $10.5m due to the recruitment of more staff for new and expanded. The extension of Raffles Hospital, which is slated to be completed in the first half of 2017, will offer significant scope for the company’s expansion and growth over the next 10 years.

SIA Engineering Company announced 1Q16 revenue of $277.3m, sliding 5.7% from the same period last year, while net profit fell 22.8% to $41.3m. The decline in revenue was largely due to lower airframe component and overhaul revenue. Although the exchange loss increased by $4.1m, expenditure fell $17m from lower staff and subcontract costs. Share of profits of associated and joint venture companies fell $6.6m or 21.6%. The drag stemmed from a 41.4% drop in contributions from the engine repair and overhaul centres.

Singapore Post announced 1Q16 revenue of $254.6m, gaining 20.7% from 1Q15, while net profit expanded 15.8% to $46.6m. The better topline performance was attributed to increasing logistics revenue on the back of growing contributions from e-commerce logistics activities and the inclusion of new subsidiaries. Capital expenditure is expected to remain high in FY16 due to investments in infrastructure such as the eCommerce Logistics Hub and POPStation network. There are also plans to redevelop its retail space at Singapore Post Centre.

Equipped with a bachelor in banking and finance, Joey covers the finance, technology and healthcare industry in Singapore.

Please click here for more information about this author.

Fortune REIT  9.210 +0.15 +1.66%   
Business: Engages in the ownership and investment of retail shopping malls in Hong Kong.

Insight: Jul-18, 1H18 total revenue and net property income... Read More
Lian Beng Group  0.470 -0.005 -1.05%   
Business: A construction co with integrated civil engineering & support service capabilities. [FY18 Turnover] Construction (43.6%), mfg of concrete (24.4%), ppty development (14.5%), dormitory (9.1%), investment holding (8.3%), engineering & leasing of machinery (0.1%).

Insight: Oct-18, 1Q19 revenue rose 15.9% mainly due to incr... Read More
Parkway Life REIT  2.750 -0.04 -1.43%   
Business: Invs REIT specialising in healthcare ppties.

Insight: Jul-18, 1H18 gross revenue rose 2.3% to $55.9m lar... Read More
SIA Engineering Co  2.470 -0.01 -0.40%   
Business: A leading aircraft maintenance, repair and overhaul (MRO) company providing total maintenance solutions to a client base of international airlines. [FY18 Turnover] Airframe and Line Maintenance (97.5%), Engine and Component (2.5%).

Insight: Nov-18, 1H19 revenue was 7% lower at $509m mainly ... Read More
Singapore Post  0.965 -0.015 -1.53%   
Business: [FY18 Turnover] Logistics (42.7%), postal (40.2%), eCommerce (17.1%).

Insight: Nov-18, 1H19 revenue rose 2.8% to $741.3m largely ... Read More


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