Maruwa Co Ltd recorded consolidated net sales for this first quarter were 4,764 million yen, up 1.0% from the same period last year due to a revenue increase in the Ceramic Components business. Net income was 132 million yen, down 51.5% from the same quarter of the previous year.
CSC Holdings Limited continued to expand its capacity and capitalized on strong demand for foundation engineering works in Singapore. 1Q09’s revenue increased 112.6% to $156.8 million (1Q08: $73.8 million). Gross profit increased from $16.1 million in 1Q08 to $28.8 million in 1Q09. Due to the overall surge in construction costs in the industry, the Group’s gross profit margin decreased to 18.4% in 1Q09 from 21.8% in 1Q08. Profit after tax for 1Q09 amounted to $14.2 million (1Q08: $8.5 million), an increase of 66.1%.
R H Energy Ltd recorded revenue for 2Q2008 and 1H2008 at 306.8% and 263.1%, to US$15.1 million and US$19.9 million respectively as compared to the previous corresponding periods. The Group’s gross profit grew more than 6-fold from US$0.8 million in 2Q2007 to US$5.0 million in 2Q2008, and nearly 6-fold from US$1.4 million in 1H2007 to US$8.2 million in 1H2008. Higher gross profit was achieved mainly due to higher value of equipment integration services completed in 2Q2008. net profit attributable to shareholders grew more than 5-fold to US$1.8 million in 2Q2008 and more than 8-fold to US$2.9 million in 1H2008, as compared to the previous corresponding periods.
DBS Group Holdings Limited recorded Second-quarter net profit of $668 million, 1% above a year ago. Compared to the previous quarter, net profit was 11% higher as trading income recovered and total allowances declined. For the first half, net profit excluding one-time items fell 1% from a year ago to $1.27 billion, with return on equity declining from 13.4% to 12.4%.
The Hour Glass Limited posted a 7% growth in profit after tax from $5.8m to $6.2million for the first quarter ended 30 June 2008 amidst easing revenues to $111.8million. The Group continued to strengthen its gross margins to 20.4%.
Singapore Exchange Limited reported an increase in operating revenue of 33.4% to $768.6 million in FY2008 (FY2007: $576.2 million). Stable revenue and net derivatives clearing revenue now cover 133.1% of operating expenses compared to 118.6% a year ago. Net profits reached $478.3 million, a 13.4% increase on the previous year. Excluding the $34.0 million distribution from SGX-DT Compensation Fund, the Group achieved net profits of $444.3 million, up 42.7% from FY20071. The return on equity hit 49.7%2 (FY2007: 37.5%1).
Meiban Group Ltd experienced slower sales across all business segments as customers remained cautious in their management of inventory amidst weakening business sentiment. For the six months ended 30 June 2008, group revenue decreased 18% to $234.1 million. Profit fell 13% to $14.5 million. However, gross margin improved to 13%. In Q2 FY2008, net profit attributable to shareholders of the Company decreased 28% to $3.6 million. Net profit attributable to shareholders of the Company for 1H FY2008 was $7.2 million.
LMA International N.V. posted net Sales for Q2 2008 at US$28.6 million, increased by US$0.7 million or 3% over Q2 2007. Gross profit for the Group was US$18.6 million in Q2 2008 slightly down on Q2 2007. Gross profit from anaesthesia products at US$17.6 million for Q2 2008 decreased by US$0.7 million or 4% over Q2 2007. Gross margin at 65% for Q2 2008 was down from 68% for Q2 2007. Net income excluding non-cash stock compensation charge decreased by 22.5% to US$4.6 million for Q2 2008 from US$5.9 million for Q2 2007.
GMG Global Ltd recorded a turnover of $113,192,276 with 30,807 tons, for the six months ended 30th June 2008, compared to $65,955,785 and 22,104 tons sold in the corresponding six months of 2007. Profit attributable to shareholders of the company was $13,255,522, an increase of $7,016,818 (or 113%) compared with the $6,238,704 achieved in the corresponding six months of 2007.
Neptune Orient Lines Limited (YTD 2008 vs YTD 2007) achieved revenue of US$4.64 billion (YTD 2007: US$3.71 billion), an increase of 25% year-on-year (YoY). Net profit increased 45% YoY from US$136 million in YTD 2007 to US$196 million in YTD 2008, primarily due to improved container shipping volumes and freight rates in selected key trades. For Q2 2008 vs Q2 2007, net profit decreased 19% YoY from US$93 million in Q2 2007 to US$76 million in Q2 2008 due to higher operating costs, particularly bunker fuel, and lower utilisation as a result of a slowing container demand growth environment.
Straits Asia Resources Limited reported net profit after tax for the second quarter of 2008 at $36.25 million compared to $7.11 million achieved in the second quarter of 2007, representing a 410% increase. The strong improvement is largely due to the contribution of the Jembayan coal operation which was acquired by the Group on 24 December 2007. Gross profit margin for the second quarter of 2008 was 42% compared to 17% for the second quarter of 2007. The higher gross profit margin is mainly a result of the cessation of the high volume/low margin purchase and sale of commodities.
Midas Holdings Limited reported a revenue increase of approximately S$7.8 million or 25.6% from S$30.6 million in 2Q2007 to S$38.5 million in 2Q2008. This is attributable to higher business volume recorded at the Aluminium Alloy Division. Revenue at the Aluminium Alloy Division in 2Q2008 is fairly stable at about 80% of total revenue as compared to about 81% for 2Q2007.
Shanghai Asia Holdings Limited posted revenues at Rmb229.3 million in 2nd Quarter 2008 (2Q2008) and Rmb399.3 million for 1H2008, representing an increase of 250.0% and 191.6% respectively over the same period last year. The Group’s cost of sales increased to Rmb183.9 million in 2Q2008 from Rmb41.6 million for 2Q2007, an increase of Rmb142.3 million or 342.1%. For the 6 months in 1H2008, cost of sales was Rmb318.5 million, an increase of Rmb229.1 million or 256.0% over the same period last year. Net profits for 2Q2008 were Rmb31.6 million compared to Rmb18.1 million for 2Q2007, an increase of 74.4%. Compared to 1Q2008 net profits of Rmb24.6 million, net profits in 2Q2008 increased by 28%. Return on equity (annualised) was 22.4% for 2Q2008 compared to 23.8% for 2Q2007 and 20.4% for the full year 2007.
Yong Xin International Holdings Ltd reported revenue decrease 3.2% from approximately RMB 69.9 million to approximately RMB 67.7 million. The People’s Republic of China (“PRC”) is generally affected by the increase in prices of international iron ore and this has resulted in a sharp increase in steel and iron prices in the PRC. Gross profit margin decreased from 30.0% to 12.1%. Profit before tax decreased by 84.3% from approximately RMB18.7 million to approximately RMB2.9 million due mainly to increase in interest expense and administrative expenses.
CentralLand Limited reported revenue amounting to about RMB146.9 million from sale of 274 units in Phase I and Phase II of Guoling Shanshui In 2Q2007. The revenue of RMB7.4 million for 2Q2008 comprised rental income only and is 247.0% higher than rental income of RMB2.1 million in 2Q2007. Gross profit decreased significantly from RMB84.7 million in 2Q2007 to RMB7.2 million in 2Q2008. Our gross profit margin increased by approximately 40.1 percentage points from 56.9% to 97% due to the fact that rental income enjoys a much higher gross profit margin than sales of property. Net profit for the period decreased from approxiamtely RMB27.7 million to RMB0.1million
Ocean International Holdings Limited recorded a decrease in sales by RMB14.8 million or 8.3% to RMB163.8 million in HY2008 from RMB178.6 million in HY2007, which was mainly due to the relatively slack consumer market. The Group recorded a loss before tax of RMB42.0 million in HY2008, compared to a loss before tax of RMB33.4 million in HY2007.
Lee Metal Group Ltd posted an increase in turnover during 1st half year 2008 by 5.3% to $785.7m from $746.3m for 1st half 2007 driven by the rise in steel prices and the growth of Fabrication and Manufacturing business. Group profit before tax for the 1st half 2008 increased 42.6% to $12.1m from $8.5m for the corresponding period last year as a result of the higher gross margin. Group profit attributable to equity holders for 1st half 2008 increased 40.5% to $10.1m from $7.2m for the same period last year.
Hiap Moh Corporation Ltd achieved revenue of $21.39 million, which was 12.1% higher than the revenue of $19.07 million in the same period last year. Gross profit increased by 22.7% from$4.37 million to $5.37 million due to higher sales as well as improved profit margins. The Group’s profit after tax of $1.04 million rose by 30.8% compared to $0.80 million in the same period last year.
Asia Pacific Breweries Limited reported another quarter of strong operating performance for the period ending 30 June 2008. Group profit before interest and tax (PBIT) at $78.7 million registered an increase of $17.4 million or 28% over last year. Net profit before exceptional items (APBE) increased by $10.7 million or 34% to reach $42.5 million.
Fraser & Neave Limited reported a decline in revenue by 8% to $1.2 billion for the quarter ended 30 June 2008. PBIT (profit before interest and tax) for the quarter of $207 million rose 11% over last year. Group attributable profit (before exceptional items) rose 20% to $116 million for the quarter and basic earnings per share was 8.3 cents, up 19% over the same period last year. Kim Eng Holdings Limited reported that operating income fell by 38% to $89 million in 2Q08 as a result of lower trade volumes in Singapore and Hong Kong. Overall, the Group made a profit after taxation of $74.8 million in 1H08 compared to $96.6 million for the previous corresponding period.
Source: POEMS, SGX MASNET
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