Market Focus Daily: Friday, June 27, 2025
Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day's market movements and news from Singapore and the region.
Written and hosted by: Emily Liu (emilyliu@sph.com.sg)
Produced and edited by: Chai Pei Chieh & Claressa Monteiro
Produced by: BT Podcasts, The Business Times, SPH Media
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Business Times
3 hours ago
- Business Times
China Aviation Oil H1 profit rises 18.4% to US$50 million on higher gross profit and associates' share of results
[SINGAPORE] Asia-Pacific's largest physical jet fuel buyer China Aviation Oil (CAO) posted a net profit of US$50 million for the first half of its financial year ended Jun 30. This was an 18.4 per cent year-on-year increase from US$42.3 million. The growth was attributed to increases in gross profit and share of results from associates, the Singapore Exchange-listed group said on Thursday (Aug 14). Earnings per share jumped 18.1 per cent to US$0.0582 from US$0.0493 previously for the company, which is a key supplier of imported jet fuel to China. CAO attributed the rise in business volume to higher trading volumes of crude and fuel oils. The increase in jet fuel supply volume and optimisation gains from trading activities thus led to a jump in revenue and gross profit. Gross profit was US$30.4 million, a 25.7 per cent increase from US$24.2 million recorded in the same period the previous year. Revenue rose 13.6 per cent to US$8.6 billion, from US$7.5 billion in the first half of 2024, underscored by a 'strong uptick' in demand. Total supply and trading volume went up 35.4 per cent to 13.8 million tonnes in H1 FY2025 from 10.2 million tonnes previously. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The share of results from CAO's associates rose 18.6 per cent to US$27.4 million. This was largely down to higher refuelling volumes from the sole supplier of jet fuel at Shanghai Pudong International Airport (leading to a 13.9 per cent increase in contributions to US$25.5 million), and higher contributions from petroleum complex logistics terminal company Oilhub Korea Yeosu. The volume of middle distillates for H1 grew 18.7 per cent to 7.4 million tonnes from 6.2 million tonnes, while the trading volume of other oil products rose to 6.4 million tonnes, from 4 million tonnes in the same period the previous year. This was due to higher trading volumes of fuel and crude oils. CAO also stated that it has zero net-interest-bearing debt. Outlook CAO chief executive Lin Yi said his company is 'cautiously optimistic' about its medium-term outlook. The company pointed out the International Air Transport Association forecast that the total operating profits for the global civil aviation industry are set to grow 6.6 per cent to US$66 billion this year. It added that relaxed visa requirements across countries in the Asia-Pacific mean that the region is expected to account for 52 per cent of the global aviation industry's revenue passenger kilometre increase. China is set to be a 'significant contributor', accounting for more than 40 per cent of the region's aviation traffic, said CAO. 'CAO remains confident about the aviation industry's trajectory amidst a dynamic global landscape,' said Lin, referring to the geopolitical instability, trade tensions and supply-chain disruptions that were seen in the first half of the year. He added: 'Supported by healthy recovery in the global aviation industry, rising demand across our key markets, and new opportunities posed by the low-carbon business, CAO is well-positioned to benefit from these opportunities.' CAO executive chairman Shi Yanliang stated that the company is also 'committed to' its development goals in the sustainable aviation fuel business, alongside business innovation and strengthened risk management. At the mid-day break on Thursday, shares of CAO were flat at S$1.23 compared with its closing price the previous day.
Business Times
4 hours ago
- Business Times
Yanlord Land back in the black with H1 net profit of 379.2 million yuan
[SINGAPORE] Yanlord Land recorded a net profit of 379.2 million yuan (S$67.8 million) for the first half of 2025, reversing from a net loss of 486 million yuan in the year ago period. This comes amid a shift in the product mix of properties delivered and a reduction in the write-down of completed properties for sale and properties under development. Revenue declined 53.5 per cent to 9.3 billion yuan, from 20 billion yuan recorded the year before. Yanlord said on Thursday (Aug 14) that income from property development decreased by 59.9 per cent to seven billion yuan in H1, primarily due to a decrease in gross floor area delivered to customers during the period. The group reported an earnings per share of S$0.1963 in H1 2025, reversing from a loss of S$0.2516 in H1 2024. No dividend was declared, unchanged from the year ago period. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Zhong Sheng Jian, Yanlord's chairman and chief executive officer, said that according to published statistics, Chinese national property investment, primary property sales value and sales area in China, continued to decline year-on-year in H1, though the pace of decline has moderated. He said that following over three years of market adjustments, the market is showing early signs of stabilisation. 'The group reported a turnaround to profitability in H1. This was mainly driven by the higher gross profit margins of certain development projects delivered during the period,' he added Shares of Yanlord closed flat at S$0.585 on Thursday.
Business Times
7 hours ago
- Business Times
OUE back in the black with H1 net profit of S$35.6 million
[SINGAPORE] OUE recorded a net profit of S$35.6 million for the first half of 2025, reversing from the S$96.1 million loss in the year-ago period. The real estate and healthcare group on Thursday (Aug 14) said the turnaround was due mainly to S$94.9 million in provisional negative goodwill recognised for the acquisition of additional equity interests in an equity-accounted investee. It also cited higher adjusted earnings before interest and taxes, as well as greater finance income. However, H1 revenue fell 6.9 per cent to US$292.8 million, from S$314.5 million in the same period the year before. 'This was mainly due to lower contribution from the group's real estate segment, which decreased 9.7 per cent to S$194.5 million from S$215.4 million in H1 2024,' OUE said. In the latest period, the group's investment properties and fund management division recorded an 8.5 per cent decline in revenue to S$95.1 million. This was attributed largely to the absence of contributions from Lippo Plaza Shanghai, which was divested last December. Hospitality division revenue was 9.8 per cent lower at S$99.2 million in H1 2025, following a high base in 2024 which was driven by several high-profile events and concerts in Singapore, as well as the start of the visa-waiver arrangement between the city-state and China. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Softer travel demand and consumer spending, ongoing macroeconomic headwinds and geopolitical tensions also weighed on the performance in H1 2025. OUE's healthcare segment revenue was S$75.3 million, comparable with the S$76.3 million in H1 2024. The group's other revenue segment – primarily contributions from its food and beverage operations – recorded S$23 million in H1, up slightly from the S$22.8 million the year before. OUE said: 'While dining concepts launched last year contributed for the full period, this was offset by softer consumer demand amid macroeconomic uncertainties and market saturation.' The group reported earnings per share of S$0.047 in H1 2025, as opposed to a loss per share of S$0.1142 in H1 2024. An interim dividend of S$0.01 per share was declared, unchanged from that in the year-ago period. 'Despite the challenging backdrop, the group's portfolio, comprising prime and strategically located commercial properties with a diversified tenant base, hospitality and retail assets, as well as the complementary healthcare segment, is expected to provide stable performance in 2025,' OUE said. Shares of OUE closed flat at S$1.12 on Thursday, before the announcement.
