Company Briefs: Singapore Exchange

Singapore Exchange

The Singapore Exchange yesterday posted a net profit of $103.9 million in the fourth quarter, up 24.1 per cent from the same period a year earlier.

Revenue in the three months ended June 30 rose 16.5 per cent to $248 million, led by record derivatives revenue of $130.1 million, up 52.2 per cent from the same period a year earlier.

Equities and fixed income revenue fell 9.4 per cent to $92 million. Securities daily average traded value declined 14 per cent to $1.01 billion from the same quarter a year earlier.

Fourth-quarter earnings per share was 9.7 cents, up from 7.8 cents in the same period a year earlier. A final dividend of 7.5 cents per share was proposed, bringing the total dividend for the year to 30 cents per share, unchanged from a year earlier.

For the full year ended June 30, net profit rose 8 per cent to hit an 11-year high of $391.1 million, above consensus estimates of $381 million.

Revenue in the 12 months ended June 30 rose 8 per cent to $910 million, powered by a 35.3 per cent jump in derivatives revenue to a record high of $460 million.

Derivatives now account for 51 per cent of group revenue, up from 40 per cent in the 2018 financial year.

Equities and fixed income revenue fell 14.5 per cent to $348 million, which is 38 per cent of group revenue, down from 48 per cent last year. Net asset value per share was $1.02 as at June 30, flat from a year earlier.


Synagie

Home-grown e-commerce start-up Synagie has inked an agreement with Amer Sports Malaysia to manage its e-commerce platform business in South-east Asia, the Catalist-listed firm announced in a press statement yesterday.

Amer Sports Malaysia is a subsidiary of Helsinki-listed Amer Sports Corporation (Amer Sports), a sporting goods company with international brands including Suunto, Wilson and Salomon.

The group offers various sports equipment, apparel and accessories, and sells its products to consumers via brand stores, distributors, factory outlets, e-commerce and trade customers.

Synagie will promote the online distribution and sales of Amer Sports brand products, manage its online channels and stores, as well as provide integrated services from promotion to customer service to help grow the group's e-commerce businesses in South-east Asia, it said.

Synagie manages the online businesses for more than 280 brand partners in South-east Asia.

A version of this article appeared in the print edition of The Straits Times on August 01, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe