SG Morning Highlights | Genting Singapore's 3Q Net Profit After Taxation Up 59% to S$216.3M

Singapore shares opened lower on Tuesday. The $FTSE Singapore Straits Time Index(.STI.SG)$ lost 0.04 per cent to 3,105.56 as at 9.18 am.

$Genting Sing(G13.SG)$: Genting Singapore has reported net profit after taxation (NPAT) of $216.3 million for its 3QFY2023 ended Sept 30, up 59% y-o-y, compared to its NPAT of $135.8 million in the same period last year. The company posted revenue of $689.9 million for the quarter, up 33% y-o-y. Gaming revenue accounted for $459.6 million, versus $382.0 million in 3QFY2022. Non-gaming revenue came in at $230.1 million, up 68% over $137.3 million in the corresponding period last year.

$Sembcorp Ind(U96.SG)$: Sembcorp Industries will be acquiring majority interests in various subsidiaries of Vietnam's Gelex Group Joint Stock Company for a maximum equity consideration of about S$218 million. The move is to boost its renewables portfolio. The group announced on Friday (Nov 10) that its wholly owned subsidiary, Sembcorp Solar Vietnam, has reached an agreement to purchase majority interests ranging from 73 per cent to 100 per cent in various subsidiaries of Gelex, subject to regulatory and other approvals.

$FRASERS PROPERTY LIMITED(TQ5.SG)$: Frasers Property posted a net loss of S$74 million for the six months ended Sep 30, from a net profit of S$741.8 million a year earlier. The net loss came amid an 8.8 per cent decline in revenue to S$2 billion for the period, from S$2.2 billion a year before. In its results release on Friday (Nov 10), the company attributed the fall in revenue to lower contributions from residential projects in Singapore and from industrial projects in its industrial segment.

$UMS(558.SG)$: Semiconductor company UMS Holdings on Friday (Nov 10) reported a 64 per cent drop in net profit for the third quarter ended September, amid a slowdown in global semiconductor demand. Net profit fell to S$15.3 million in Q3 FY2023, from S$42.5 million in the corresponding year-ago period. In a bourse filing, the group attributed the lower bottom line figures to softer sales, smaller foreign exchange gains, higher expenses, as well as an increase in income tax due to the reversal of tax provisions for one of its Malaysian subsidiaries in Q3 FY2022.