Company Briefs: PSA International

PSA International

PSA International handled 64.1 million twenty-foot equivalent units (TEUs) of containers globally last year, down 2 per cent from a year earlier.

Volumes at its Singapore terminals fell 8.7 per cent to 30.62 million TEUs, but its terminals elsewhere in the world handled 5 per cent more at 33.48 million TEUs.

"2015 was generally a tough year with weak trade growth reflecting unsteady global economic conditions," said group chief executive Tan Chong Meng.

"Trade in the second half of the year was particularly lacklustre, and this added to the pressures that were already building up due to structural shifts such as ship upsizing, sustained overcapacity, changes in liner alliancing and the effect of prolonged lower oil prices."

Keppel DC Reit

Keppel DC Reit posted a distribution per unit (DPU) of 1.64 cents for the fourth quarter, beating its own forecast by 1.9 per cent.

Net property income for the three months ended Dec 31 was $21.85 million, which also surpassed its forecast by 1.9 per cent.

This was mainly due to rental contribution from Intellicentre 2 and lower property expenses, said the Reit manager yesterday.

A distribution of 3.28 cents per unit has been declared for the period from July 1 to Dec 31. The distributions will be paid out on Feb 29.

Ezra Holdings

Offshore marine group Ezra Holdings posted a net loss of US$55.3 million (S$79.5 million) for the first quarter ended Nov 30 amid volatile oil prices.

This reversed the US$54.4 million net profit for the same period a year earlier and is Ezra's first net loss since its listing in 2003.

Revenue for the quarter rose 19 per cent to US$152.3 million, boosted by Triyards, which is part of its marine services division.

Loss per share for the quarter was 1.88 US cents, down from earnings per share of 3.24 US cents a year earlier. Net asset value per share was 45.4 US cents as at Nov 30, down from 46.46 US cents as of Aug 31 last year.

"The 2016 financial year will be a tough year for the group. As we strive to work amidst the extremely challenging operating conditions, the group will focus on improving vessel utilisation," said Mr Lionel Lee, group chief executive and managing director.

A version of this article appeared in the print edition of The Straits Times on January 15, 2016, with the headline 'Company Briefs: PSA International'. Print Edition | Subscribe