Company Briefs: Keppel Telecommunications & Transportation (Keppel T&T)

Keppel Telecommunications & Transportation (Keppel T&T)

Keppel T&T has posted a 45.3 per cent drop in second-quarter earnings to $10.3 million on the back of lower revenue and operating profit.

Turnover for the three months ended June 30 slipped 5.1 per cent to $47.6 million on weaker contribution from the logistics division, as well as the sale of the 90 per cent interest in Keppel DC Singapore 3 to Keppel DC Reit in January and the 50 per cent interest in Keppel DC Reit Management to Keppel Capital in July last year.

Earnings per share slumped to 1.8 cents from 3.4 cents, while net asset value per share was $1.42 as at June 30, marginally down from $1.43 as at Dec 31 last year.

Keppel T&T shares closed 3.2 per cent down at $1.66 yesterday, before the results were out.

Singapore Technologies Engineering (ST Engineering)

ST Electronics, the electronics arm of ST Engineering, secured about $490 million worth of contracts in the second quarter of this year.

Of the amount, $131 million was for rail electronics and intelligent transportation, while $57 million was for satellite and broadband communications, which were awarded by government, telecom and enterprise users worldwide for the supply of broadband networks, satellite network equipment and earth stations. The firm also secured about $302 million in advanced electronics and information communications technologies solutions contracts.

Hutchison Port Holdings Trust (HPH Trust)

HPH Trust reported a 21.5 per cent decline in second-quarter earnings to HK$269.1 million (S$47.1 million), weighed down by the share of profits less losses after tax of its associated companies.

Revenue for the three months ended June 30 dipped 1.5 per cent to HK$2.89 billion.

Contributions from associated companies amounted to a loss of HK$24.9 million, reversing from a positive contribution of HK$5.2 million a year earlier, mainly reflecting the share of Huizhou International Container Terminals' result following the completion of the acquisition by HPH Trust at the end of 2016.

The trust proposed a distribution of 9.5 Hong Kong cents per unit for the half year ended June 30, well down from 14 Hong Kong cents per unit previously. HPH Trust units closed flat at 48 US cents yesterday.

A version of this article appeared in the print edition of The Straits Times on July 20, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe