Kingsmen Creatives Turn The Tide Around with 1H2018 Financial Results

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From a sea of red financial results a year ago (Read more: Kingsmen Creatives FY2017 Financial Results Is Disappointing ), Kingsmen Creatives have managed to turn the tide around by releasing a set of positive 1H 2018 financial results.

Revenue increases 1.3% to S$146.8 million and Net profit increases 7.5% to S$2.9 million. Earnings per share has also increased 7.2% from 1.38 cents to 1.48 cents. The company’s cash flow remain healthy as the cash and cash equivalents stood at S$67.6 million as at 30 June 2018.

As at 31 July 2018, the Group has secured contracts of S$322 million, of which S$273 million is expected to be recognised in FY2018. Kingsmen Creatives expect FY2018 to be a profitable year which I am happy for the company as a shareholder.

An interim dividend of 1.0 cents was declared. Read More

Frasers Logistics and Industrial Trust Divests Lot 102 Coghlan Road In South Australia

Just when I thought it will be all quiet for Frasers Logistics and Industrial Trust after their recent divestment of 80 Hartley Street asset, Frasers Logistics and Industrial Trust announce another divestment today! Frasers Logistics and Industrial Trust is going to divest Lot 102 Coghlan Road in South Australia for A$8.75 million.

The consideration represents a 36.7% premium to the Property’s book value of A$6.4 million as at 30 June 2018 and a 26.8% premium to the original purchase price of A$6.9 million at Frasers Logistics and Industrial Trust’s initial public offering in 2016.

Upon completion of the proposed divestment, Frasers Logistics and Industrial Trust’s portfolio will comprise of 59 properties in Australia, 17 in Germany and 4 in the Netherlands. Read More

OUE Hospitality Trust 2Q2018 Financial Results – Still Awaiting The Jewel

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OUE Hospitality Trust released its 2Q2018 financial results on 27th July 2018. The results are extremely poor. In short, gross revenue, net property income and distribution per unit (“DPU”) are in a sea of red. Gross revenue for 2Q2018 was $0.4 million lower than 2Q2017. Both hospitality segment and retail segment posted lower revenue for the current period. NPI for 2Q2018 was $0.1 million lower than 2Q2017 due to lower gross revenue from the properties, partially mitigated by lower property expenses. The distribution per unit (“DPU”) for 2Q2018 was 1.17 cents, 3.3% lower as compared to 1.21 cents for 2Q2017.

RevPAR for Mandarin Orchard Singapore (MOS) fell 0.5% from S$210 to S$209. RevPAR for Crowne Plaza Changi Airport (CPCA) increased 10.5% from S$152 to S$168, however the master lease income from CPCA had remained the same as 2Q2017 at minimum rent and thus has no positive impact on OUE Hospitality Trust’s financial performance. Read More