Company briefs: Sats


Flight service provider Sats has invested in a new production line that will mechanise up to 50 per cent of certain kitchen operations.

This investment, made in anticipation of increased regional demand, is expected to raise total production capacity across both of its in-flight catering centres to approximately 115,000 meals a day.

To house the new line, Sats will expand its Inflight Catering Centre 2 by 5,000 sq m, bringing its total facility size to 60,000 sq m.

The extended facility, with an investment of approximately $18 million, is expected to be completed by the second quarter of next year.

Genting Hong Kong

Cruise ship operator Genting Hong Kong has issued a profit warning for its upcoming half-year results.

The group is expected to record a net loss in the range of US$60 million (S$80 million) to US$75 million for the six months ended June 30, not taking into account the Travellers International Hotel Group.

The fall is attributable to the absence of one-off accounting gains recognised a year ago, as well as one-time start-up and marketing costs for the launch of the new Dream and Crystal cruise brands and products this year.

The company also said it recorded higher overall operating and selling, general and administrative expenses, including depreciation and amortisation, as a direct result of the integration of recently acquired businesses.

OKP Holdings

Mainboard-listed infrastructure and civil engineering company OKP Holdings' net profit slid 15.6 per cent in the second quarter to $2.49 million, while revenue fell 11.6 per cent to $24.03 million.

Weaker turnover in the first half of the year was due mainly to a 47.3 per cent fall in sales from the maintenance segment, partially offset by a marginal increase in revenue from the construction segment.

The decrease in revenue from the maintenance segment was largely attributable to a lower percentage of sales recognised from a few maintenance projects reaching completion during the half year ended June 30.

Earnings per share was 0.81 cent for the quarter, down from 0.96 cent a year ago. Net asset value per share was 33.79 cents as of June 30, up from 33.37 cents as of Dec 31 last year.

A version of this article appeared in the print edition of The Straits Times on August 02, 2016, with the headline 'Company Briefs'. Subscribe