Company Briefs: Neptune Orient Lines

Neptune Orient Lines

Losses at the shipping liner deepened in the first quarter as it posted a net loss of US$105.1 million (S$143 million) for the period, compared with net loss of US$10.8 million a year earlier.

Revenue for the three months to April 1 fell 28 per cent to US$1.14 billion mainly due to a slide in liner revenue in weak conditions.

Loss per share from continuing operations was 4.05 US cents for the first quarter, compared with loss per share of 1.40 US cents a year earlier. Net asset value per share was 92 US cents as at April 1, down from 95 US cents as at Dec 25.

Neptune Orient Lines said French container shipping giant CMA CGM said it has received anti-trust regulatory clearance from the European Commission for its voluntary general offer for NOL. The remaining pre-conditions are expected to be satisfied by mid-year.

The counter closed 0.5 cent higher at $1.295 yesterday. The results were announced after markets closed.


OUE Hospitality Trust

First-quarter distribution to unit holders fell 7.9 per cent to $19.7 million, mainly due to lower retail revenue and higher finance expenses.

Distribution per stapled security was 1.10 cents for the three months to March 31, compared with 1.61 cents a year earlier.

Revenue rose 2.8 per cent to $30.1 million, as higher revenue in the hospitality segment offset lower revenue from the retail segment.

Net property income rose 2.2 per cent to $26.3 million. Net asset value per stapled security was 89 cents as at March 31, down from 90 cents as at Dec 31. The counter closed 0.5 cent lower at 67.5 cents yesterday. The results were announced after markets closed.


Sing Holdings

Developer Sing Holdings posted a net profit of $20 million for the first quarter, compared with a net loss of $949,000 a year earlier.

This was as revenue for the three months to March 31 jumped to $220.9 million from $6.8 million previously, mainly from the recognition of sales proceeds from Waterwoods.

Earnings per share was 4.99 cents, up from a loss per share of 0.24 cent a year earlier.

Net asset value rose from 58.74 cents, as at Dec 31 to 63.68 cents as at March 31.

The counter closed unchanged at 32 cents yesterday. The results were posted after markets closed.

A version of this article appeared in the print edition of The Straits Times on May 07, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe