1H20 results

Singapore Medical Group (SMG) posted 49.5% lower earnings of $3.5 million for 1H20 ended June, from the $6.8 million registered a year ago due to the “challenging market conditions”, and lower number of medical tourists.

CSE’s board has proposed an interim dividend of 1.25 cents for the half-year period, the same as last year. The interim dividend will be paid on September 15.

AEM Holdings has proposed an interim dividend of 5.0 cents per share, representing a payout of 25% for the half-year period.

Gross revenue for the half-year period came in at US$98.6 million ($135.5 million), 18.3% y-o-y, largely due to contributions from Centrepointe in Washington, and Capitol in California. Both were acquired in FY2019.

The board has declared an interim one-tier tax exempt dividend of 9 US cents per share for the half-year period, compared to the 18 US cents per share declared in 1H19.

UOB Kay Hian analysts Nicole Ho and Jonathan Koh are maintaining their “buy” recommendation for Elite Commercial REIT, a Singaporean company with commercial and real-estate assets in the UK, with a target price of £0.88 ($1.57).

Agri-food company Japfa saw its earnings surge 500% to US$76.8 million ($105.7 million) for 1H20 ended June, from $12.8 million a year ago, due to strong performance registered from both Animal Protein – Other (APO) in Vietnam, and Dairy.

Including the amount retained, DPS for FEHT would have stood at 1.29 cents, representing a 29.1% decline y-o-y.

SLB Development, the development spin-off from Lian Beng Group, has posted earnings of $10.8 million for FY20 ended May 31, swinging out from losses of $5.0 million a year ago.

Total revenue for the period registered a 44.5% decline to $52.1 million from the $93.8 million a year ago.