UOB Kay Hian
Trading volumes and commission income continued to fall in Singapore, Hong Kong and Thailand, affecting brokerage UOB Kay Hian's fourth-quarter earnings.
Net profit for the three months to Dec 31 slumped 47.7 per cent to $10.4 million.
Commission income dipped 31.8 per cent to $40.2 million, compared with the same period a year earlier.
Interest income grew 10.5 per cent to $35.9 million with higher lending activities. This also resulted in other operating income increasing, which includes facilities fees from lending activities.
Commissions paid to commission agents fell 36.5 per cent to $9.7 million - generally in line with lower commission income.
Earnings per share for the quarter was 1.31 cents, down from 2.56 cents previously. Net asset value per share was 169.69 cents as at Dec 31, up from 163.96 cents a year earlier.
Isetan (Singapore) suffered from a drop in sales and lower rental income from Isetan Orchard, before it was shut down in March last year to be converted into rental space.
Its net loss for the full year ballooned about eightfold to $25.8 million.
Turnover for the 12 months to Dec 31 fell 11.21 per cent to $302.2 million, year on year.
Yearly loss per share was 62.6 cents, greater than a loss per share of 7.6 cents a year earlier. Net asset value was $4.17 at Dec 31, down from $4.87 a year earlier.
Slater, a unit of The Baring Asia Private Equity Fund VI, has made a voluntary conditional general offer for precision engineer Interplex Holdings, the former Amtek Engineering.
Baring will offer 82 cents in cash per share to all Interplex shareholders. Interplex's majority shareholders have already accepted the offer for their 57.7 per cent stake.
The offer price of 82 cents values Interplex at $450 million, 62 per cent over the net asset value per Interplex share as at Dec 31.
Interplex shareholders are advised to exercise caution when dealing in their shares.
Mr Kenneth Cheong, managing director of Baring Private Equity Asia, said: "Interplex's shareholders who accept the offer will be able to realise in cash the full value for their shares, without incurring brokerage fees."