Company Briefs: Singapore Airlines

Singapore Airlines

Singapore Airlines' passenger load factor (PLF), a measure of how much of an airline's passenger carrying capacity is used, rose 1.8 percentage points to 79 per cent last month.

This was because the total distance travelled by its passengers rose over the same month last year, while the total passenger capacity of its flights (as measured in available seat kilometres) fell during the month.

PLF improved in all regions except East Asia, where it was flat.

It fell 2.3 percentage points on SilkAir to 68 per cent. The airline launched flights to the Maldives last month, bringing its network to a total of 49 destinations in 13 countries. Its PLF declined as growth in passenger carriage did not match capacity growth.

Scoot expanded its network to Osaka, Japan, and Kaohsiung, Taiwan, in July and to Hangzhou, China, last month. This lifted its system-wide passenger carriage by 25.5 per cent.

SMJ International Holdings

Premier carpet specialist SMJ International Holdings has been appointed the exclusive distributor for a range of carpets from Mohawk Industries, which is based in the United States.

The firm, which will be distributing the carpets in Singapore, Malaysia and Indonesia, is also an authorised distributor for the Mohawk Group's vinyl tiles.

Ms Rena Ho, executive director and chief executive of SMJ, said: "This appointment will allow us to focus on the distribution of Mohawk carpets in the premium space as its exclusive distributor."

Pan Ocean

A plunge in non-operating income contributed to a steep decline in third-quarter net profit at Pan Ocean Co.

Net profit for the three months to Sept 30 came in at US$43.3 million (S$61.6 million), down 77.1 per cent on the same period a year ago, while revenue rose 11.3 per cent to US$420.8 million. Other non-operating income fell 95 per cent to US$9.1 million because Pan Ocean is repaying all its "rehabilitation liabilities" this year.

Loss per share for the nine months ended Sept 30 was US$0.03, reversing from earnings per share of US$3.96 in the same period last year. Net asset value per share was US$3.76 as at Sept 30, down from US$6.03 as at Dec 31.

A version of this article appeared in the print edition of The Straits Times on November 17, 2015, with the headline 'Company Briefs: Singapore Airlines'. Print Edition | Subscribe