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Business Times
27-05-2025
- Business
- Business Times
Bukit Sembawang H2 earnings up 13% at S$51.4 million; company proposes higher special dividend
[SINGAPORE] Property developer Bukit Sembawang Estates reported a net profit after tax of S$51.4 million for the second half of its financial year ending Mar 31, a 13 per cent increase from S$45.6 million over the same period last year. The increase was mainly due to higher profits being recognised for residential development projects Pollen Collection, Liv@MB and Fraser Residence Orchard, said the property developer via a bourse filing on Monday (May 26). However, revenue fell 24 per cent to S$225.9 million from S$297.7 million over the same period mainly due to the absence of revenue contribution from a completed project call The Atelier, which had its revenue fully recognised in the previous half-year reporting period. Cost of sales was down 34 per cent at S$166.5 million. However, gross profit rose 32 per cent to S$59.4 million in H2 FY2025. As a result, earnings per share increased to S$0.1984 from S$0.1762 over the same period. While higher profits were recognised from the property development segments, there were lower profits from the hospitality segment. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up This was due to lower impairment loss on property, plant and equipment at Fraser Residence Orchard. The company said that the cooling measures implemented in April 2023 – when the government hiked Additional Buyer's Stamp Duty rates to 60 per cent for foreigners – continue to dampen property demand, particularly from foreign buyers as well as investment-driven purchases by Singaporeans and permanent residents. 'At the same time, a cautious economic outlook, both globally and locally, is weighing on investor sentiment. Within this context, the residential property market remains challenging, with elevated construction and development costs continuing to put pressure on margins,' the group said. 'The group will continue to monitor the progress of construction of our ongoing projects to ensure timely completion. It will also adopt a prudent and measured approach in calibrating the timing of upcoming launches of residential projects, in alignment with prevailing market conditions and buyer sentiment,' it added. For the full year, earnings surged 61 per cent to S$114 million on a 2 per cent dip in revenue to S$550 million. The group has proposed a final dividend of 4 cents and special dividend of 16 cents a share; compared with 4 and 12 cents the year before. Shares of Bukit Sembawang Estates fell 0.3 per cent, or S$0.01 to close at S$3.92 on Monday.
Business Times
27-05-2025
- Business
- Business Times
Stocks to watch: Sembcorp, Bukit Sembawang, SBS Transit, Boustead
THE following companies saw new developments that may affect trading of their securities on Tuesday (May 27): Sembcorp : Its subsidiary Sembcorp Utilities entered an agreement with several of its South-east Asian counterparts to explore exporting renewable energy from Vietnam into Malaysia and Singapore, the group said on Monday. Under the agreement, the parties will focus on unlocking Vietnam's renewable energy resources, particularly offshore wind power, as a source for green electron generation and to supply clean electricity across borders. The counter ended Monday 1.4 per cent or S$0.09 higher at S$6.65, before the news. Bukit Sembawang : The property developer posted a net profit after tax of S$51.4 million for its second half ended March, a 13 per cent increase from S$45.6 million in the year-ago period. The increase was mainly due to the recognition of higher profits for residential development projects Pollen Collection, Liv@MB and Fraser Residence Orchard, the group said on Monday. Shares of Bukit Sembawang Estates closed Monday 0.3 per cent or S$0.01 lower at S$3.92, before the news. SBS Transit : Member of Parliament for Tampines Changkat Desmond Choo stepped down from the board of SBS Transit with immediate effect on Monday, following his appointment as Minister of State for Defence last Friday. Choo, who has been a board member of the transport company since April 2021, will also relinquish his membership on the board's remuneration and nominating committee. He continues to be assistant secretary-general at the National Trades Union Congress. Shares of SBS Transit closed Monday 0.4 per cent or S$0.01 higher at S$2.75, before the news. Boustead : The engineering and technology group on Monday posted a net profit of S$59.1 million for the six months ended March, representing a 58 per cent increase on the year, although revenue slid 42 per cent to S$231.9 million. The mainboard-listed company said that profits had risen despite lower revenue due to lower income tax expenses and a one-off gain. The counter ended lower by S$0.01 or 1 per cent at S$1.04, before the update. Trading halt: Printing cylinder supplier Fuji Offset called for a trading halt with immediate effect on Tuesday morning, pending an announcement. Its shares closed Monday 19.7 per cent or S$0.065 higher at S$0.395.
Business Times
26-05-2025
- Business
- Business Times
Bukit Sembawang Estates H2 FY2025 earnings up 13% at S$51.4 million
[SINGAPORE] Property developer Bukit Sembawang Estates reported a net profit after tax of S$51.4 million for the second half of its financial year ending Mar 31, a 13 per cent increase from S$45.6 million over the same period last year. The increase was mainly due to higher profits being recognised for residential development projects Pollen Collection, Liv@MB and Fraser Residence Orchard, said the property developer via a bourse filing on Monday (May 26). However, revenue fell 24 per cent to S$225.9 million from S$297.7 million over the same period mainly due to the absence of revenue contribution from a completed project call The Atelier, which had its revenue fully recognised in the previous half-year reporting period. Cost of sales was down 34 per cent at S$166.5 million. However, gross profit rose 32 per cent to S$59.4 million in H2 FY2025. As a result, earnings per share increased to S$0.1984 from S$0.1762 over the same period. While higher profits were recognised from the property development segments, there were lower profits from the hospitality segment. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up This was due to lower impairment loss on property, plant and equipment at Fraser Residence Orchard. The company said that the cooling measures implemented in April 2023 – when the government hiked Additional Buyer's Stamp Duty rates to 60 per cent for foreigners – continue to dampen property demand, particularly from foreign buyers as well as investment-driven purchases by Singaporeans and permanent residents. 'At the same time, a cautious economic outlook, both globally and locally, is weighing on investor sentiment. Within this context, the residential property market remains challenging, with elevated construction and development costs continuing to put pressure on margins,' the group said. 'The group will continue to monitor the progress of construction of our ongoing projects to ensure timely completion. It will also adopt a prudent and measured approach in calibrating the timing of upcoming launches of residential projects, in alignment with prevailing market conditions and buyer sentiment,' it added. Shares of Bukit Sembawang Estates fell 0.3 per cent, or S$0.01 to close at S$3.92 on Monday.
