SINGAPORE - The following companies saw new developments that could affect trading of their shares on Friday (Nov 9):
Noble Group: The board of Noble Group on Friday announced that resolutions to approve both its English and Bermuda schemes have been passed at the Nov 8 scheme meeting, with the requisite majority of each class of scheme creditors giving the green light. The commodities trader will submit the results of the scheme meetings to the English Court and the Bermuda Court to apply for the sanctioning of the schemes.
Frasers Property: Fair value gains of $637 million on Frasers Property's investment properties, as well as the timing of sales settlements of development projects in Singapore and Australia, and maiden contributions from the business parks in the UK lifted results for the group for its 2018 financial year. Net profit increased 10.1 per cent to $759 million from the previous year, while revenue grew 7.1 per cent to $4.31 billion for the 12 months ended Sept 30.
Genting Singapore: It has posted a net profit of $210.4 million for the third quarter, up 46 per cent from the same period a year earlier, as its attractions at Resorts World Sentosa pulled in the crowds. Revenue for the three months ended Sept 30 rose 1 per cent to $639 million. Gaming revenue at integrated resort Resorts World Sentosa (RWS) fell 1 per cent to $445.4 million, though this was offset by a 9 per cent rise in non-gaming revenue to $192.8 million.
City Developments (CDL): It posted a 10.4 per cent rise in third-quarter net profit to $161.8 million from the previous year, the group said in a Singapore Exchange filing on Thursday evening. For the three months ended Sept 30, revenue increased 17.7 per cent to $1.02 billion from the year-ago period.
OUE Commercial Reit (OUE C-Reit): Lower revenue and higher interest expenses dampened results for OUE C-Reit for its third quarter ended Sept 30. Distribution per unit slid to 0.55 Singapore cent from 0.62 Singapore cent in the previous year, with the latter restated to include the 1.3 billion new units issued on Oct 30, 2018 to finance the purchase of the office component of OUE Downtown.
Sats: Q2 earnings for ground handler and in-flight catering services provider Sats came in at $65.7 million or 9 per cent lower from $72.2 million a year ago.This was the result of the absence of a one-time $7 million gain on disposal of assets as well as lower contribution from associates and joint ventures.
Stamford Land: The luxury hotel operator's net profit for the quarter ended Sept 30, 2018 rose 16.3 per cent to $11.56 million from $9.93 million a year ago. Revenue dropped by 47.6 per cent to $70.9 million.
Ho Bee Land: The property developer's third-quarter net profit rose nearly 25 per cent year on year to $67.75 million. The bottom line was strengthened by higher share of profits of associates, thanks to development projects in Shanghai and Zhuhai. For the quarter under review, share of profits of associates spiked about 54 per cent to $44.21 million.
Courts Asia: Electrical, IT and furniture retailer Courts Asia has posted a net loss of $3.1 million for its fiscal second quarter, reversing from a net profit of $1.5 million for the same period a year earlier, weighed down by lower gross profit margins and revenue. Revenue for the three months ended Sept 30 fell 6.4 per cent to $165.1 million.