Company briefs: Challenger Technologies

Challenger Technologies

Information technology products and services provider Challenger Technologies posted higher fourth-quarter earnings on the back of stronger gross profit and lower operating expenses.

Revenue for the three months to Dec 31 decreased by 9 per cent to $95.6 million compared with the same period a year earlier, due to lower retail and corporate sales. However, net profit for the quarter climbed 50 per cent to $7.5 million

Full-year revenue dipped 1 per cent to $352.2 million but net profit rose 22 per cent to $18.3 million due to higher government grants and lower operating expenses after the closure of retail operations in Malaysia.

Earnings per share for the quarter increased to 2.22 cents from 1.43 cents a year earlier, while net asset value per share was 22 cents as at Dec 31 last year, compared with 19.21 cents as at Dec 31, 2014. The board has proposed a final dividend of 1.55 cents.

Singapore Airlines

Singapore Airlines (SIA) carried 1.6 million passengers last month, a rise of 5.7 per cent compared with January last year.

The passenger load factor increased 3.7 percentage points to 80.2 per cent compared with the same period a year earlier.

SIA said its passenger load factor improved across all regions due to stronger returning traffic from the year-end holidays, coupled with a shift in Chinese New Year outbound travel from early February 2015 to late January 2016. "The competitive landscape continues to be challenging and promotional activities will continue in relevant markets," SIA said in a filing with the Singapore Exchange.

Wing Tai Holdings

Developer Wing Tai Holdings has set up a new fund management unit to invest in the Asia-Pacific region.

"The current market offers opportunities for investments, especially for investors with a medium- to long-term horizon and for institutional investors who are increasing their allocation to real estate," said Wing Tai chairman and managing director Cheng Wai Keung in a press release.

Mr Chua Choy Soon has been appointed managing director of the unit and he is responsible for developing the fund and managing its investment activities, said Wing Tai.

A version of this article appeared in the print edition of The Straits Times on February 16, 2016, with the headline 'Company briefs: Challenger Technologies'. Print Edition | Subscribe