Company briefs :Hong Leong Asia

Hong Leong Asia

Hong Leong Asia has narrowed its third-quarter net loss to $13.9 million from $16.7 million in the corresponding period last year.

Revenue shrank by 9.5 per cent to $829.8 million for the three months to Sept 30.

The decrease was mainly due to the slowing economic growth in China which affected Xinfei and Yuchai, its consumer products and diesel engine units, respectively.

Loss per share improved to 3.72 cents from 4.48 cents previously while net asset value per share fell to 193.91 cents compared with 209.34 cents as at Dec 31.

Overall, the group's performance is expected to be weak for the rest of the year.


The Straits Trading Co

The Straits Trading Company has reported a net profit of $16.8 million for the third quarter compared with a loss of $7 million in the same period last year, on improved performance across all sectors.

Total revenue for the three months to Sept 30 fell by 18 per cent to $113.4 million.

Revenue from tin mining and smelting slumped by 19.8 per cent to $108.1 million, due to lower production of refined tin arising from lower receipt of feed materials and a weaker Malaysian ringgit on translation to the Singapore dollar.

Property revenue, however, climbed by 58.2 per cent to $5.2 million.

Earnings per share improved to 4.1 cents, reversing from a loss of 1.7 cents previously. Net asset value per share firmed to $3.28 compared with $3.18 as at Dec 31.


Haw Par Corp

Haw Par Corp said its third-quarter net profit rose by 21.3 per cent to $42.4 million.

Revenue for the three months to Sept 30 edged up 3.3 per cent to $49.7 million, due to higher sales in the healthcare segment and an improvement in occupancy in the property business.

Earnings rose on higher gross margins and absence of one-off loss on disposal of available- for-sale financial assets in the prior-year period. Earnings per share climbed to 19.3 cents from 15.9 cents previously while net asset value per share eased to $10.88 compared with $11.57 as at Dec 31.

Looking ahead, Haw Par said its investments will continue to be affected by volatile equity markets amid geopolitical and economic uncertainties.

A version of this article appeared in the print edition of The Straits Times on November 12, 2016, with the headline 'Company briefs'. Print Edition | Subscribe