Keppel Telecoms & Transportation reports 14% rise in Q1 profit to S$12.2m; Posted: 24 April 2007 2025 hrs

 

 

SINGAPORE: Keppel Telecoms and Transportation has reported a 14 per cent rise in first quarter net profit.

Earnings came in at $12.2 million dollars, compared with $10.7 million in the year-ago period.

But turnover fell about 11 per cent to $21.5 million.

Its associate, MobileOne was the main earnings driver, contributing more than 60 per cent of pre-tax profits.

Going forward, Keppel T&T says it will intensify its efforts to diversity into non-port logistics activities to generate earnings growth

MobileOne reports 10% jump in Q1 earnings; Posted: 24 April 2007 2046 hrs

SINGAPORE: MobileOne, Singapore's third largest mobile operator, has reported a 10 per cent jump in first quarter earnings.

Net profit for the three months ended March came in at S$49.7 million - boosted by a tax adjustment.

The telco added 41,000 new customers in the period - taking its total customer base to 1.378 million.

But its market share fell to 28.9 per cent.

Going forward, M1 expects its operations to remain stable for the rest of the year.

Separately, M1 announced that it had received approval from the High Court to proceed with its capital reduction plans.

The plans were first announced in January.

Under the proposal, M1 will return more than S$221 million to shareholders.

It will cancel one share for every 10 shares and pay shareholders S$2.22 in cash for each cancelled share.

To facilitate trading, the SGX has given M1 in-principle approval to trade its shares in board lots of 10 shares for a period of one month, starting from 10 May 10 to 11 June.

CCT reports 90% jump in Q1 distributable income; Posted: 25 April 2007 0928 hrs

SINGAPORE : CapitaCommercial Trust (CCT) has reported a 90 percent jump in distributable income to S$29.3 million in the first quarter of this year.

Income was boosted by contribution from its Raffles City shopping mall and higher returns from its office properties.

CCT said growth would be driven by an upsurge in the Republic's office rentals.

It is rewarding unit holders with 2.11 Singapore cents per unit for Q1 compared with 1.72 cents a year earlier, or nearly 23 percent higher.

CapitaCommercial Trust is the second largest property trust by market value on the Singapore Exchange.

Ascott's new serviced apartments to be group's most expensive in Asia; By Daryl Loo, Channel NewsAsia | Posted: 25 April 2007 1614 hrs

SINGAPORE: The Ascott Group's first ever serviced apartments in Singapore's Central Business District will also be one of its most expensive.

Slated for completion in the third quarter of 2008, the new Ascott Raffles Place will offer room rates starting at S$500 a night - second only to the group's properties in London.

The new Ascott Raffles Place will be housed in the historic Asia Insurance Building, at the corner of Raffles Quay and Finlayson Green.

Ascott is pumping some S$60 million to turn the 57-year-old office tower into a 154-unit luxury serviced apartment.

It is counting on the prime location, as well as views of Marina Bay and the upcoming integrated resort, to bring in the paying customers.

"Our published rates will be about $500 to $600 that we're looking at. We believe that Singapore rates are relatively low, and could actually move up. Singapore is now transforming itself into a global city, but the rates themselves in Singapore are among the lowest. It is in fact the lowest within the market that we're talking about, so there is tremendous opportunity for rate movement within Singapore," says CEO of The Ascott Group, Cameron Ong.

Ascott Raffles Place will feature an infinity pool on the rooftop, as well as an 80-seater French gourmet restaurant run by the Saint Julien group.

Much of the facade of the original building will be conserved, and Ascott is hoping that this touch of history will add to the attraction.

"What Ascott is trying to do is to bring back the old glory, to bring back the old charm. This building has its beauty. And what we would like to do is to restore it back to its originality. And bring back many modern amenities, and at the same time provide deluxe accommodations for business travellers who are coming for an extended stay in Singapore," says Mr Ong.

Ascott, a unit of property giant CapitaLand, paid S$110 million to buy the building from original owners, Asia Life Assurance, last year.

SIA among Singapore's most trusted brands: Reader's Digest survey; By Ashraf Safdar, Channel NewsAsia | Posted: 25 April 2007 1853 hrs

SINGAPORE: Singapore Airlines (SIA) was picked by a sample group of 7,000 people in Singapore, Hong Kong, India, Malaysia, Taiwan and the Philippines as a preferred brand in Singapore in the annual Reader's Digest Trusted Brands Survey.

Survey participants were asked to pick local brands which have made a name for themselves via phone interviews as well as mailers.

Simon Cholmeley, Regional Advertising Director, Reader's Digest, said: "To win this award, you need to have top-of-mind awareness. There is no list of brands that participants can choose from. It is the one and only choice, a blank space and they write that brand in."

And besides SIA, the other brands chosen were Knife cooking oil and traditional Chinese medicine provider Eu Yan Sang.

Richard Eu, Group CEO, Eu Yan Sang, said: "I think we decided how we wanted to present ourselves. And we tapped on certain things like our heritage, quality and the way we innovate... and this message has been communicated to the right consumers."

Changi voted Asia's best airport 21 years running: Survey; Posted: 25 April 2007 2156 hrs

SINGAPORE: Changi Airport has been crowned Asia's Best Airport for the 21st consecutive year.

The recognition was made official at the "2007 Asian Freight and Supply Chain Awards" ceremony held in Macau on Wednesday.

The award is based on a survey conducted by Cargonews Asia magazine.

And the ranking is based on votes by those involved in the operation of logistics and cargo supply chains in the Asia-Pacific region.

Changi managed to beat other airports in Hong Kong, Kuala Lumpur and Shanghai, to clinch the award.

This latest win is Changi's fifth "best airport" award this year.

Osim International swings into red with Q1 net loss of S$17.3m; Posted: 25 April 2007 2215 hrs

 

 

SINGAPORE: Osim International has swung into the red in the first quarter with a net loss of S$17.3 million.

Its bottomline is being hit by lower revenue from North Asia and losses at Osim Brookstone.

Revenue for the period fell by 22 per cent, with sales in North Asia taking a tumble of some 36 per cent.

Osim says the North Asian market is recovering from the industry consolidation arising from unsubstantiated advertising by followers which resulted in negative publicity for the industry as a whole.

It remains positive about its long-term prospects and says that it plans to add new retail outlets in more countries.