SINGAPORE Airlines: South-east Asia's biggest carrier has said job cuts are possible as part of a business review it has kicked off to revive earnings following a surprise quarterly loss.
The premium carrier's staff is aware that headcount reduction is possible under the process, chief executive officer Goh Choon Phong told reporters on Tuesday at the annual meeting of the International Air Transport Association in Cancun, Mexico. The group, including affiliates and units, employed an average of 24,350 workers at the end of March 2016.
TTJ Holdings: The slowdown in structural steel business and lack of revenue contribution from its dormitory business dented the results of structural steel fabricators TTJ Holdings in its third quarter, with net profit falling 82.1 per cent to S$2.4 million from the previous year while revenue plunged 68.8 per cent to S$16.8 million for the three months ended April.
That said, the company had in May said it had secured several new contracts, bringing its order book to S$166 million as at May 22.
Yoma Strategic: RHB Research has said that catalysts for the stock price would be a recovering real estate market and further non-core asset divestments.
It said Yoma is scaling up the non-real estate businesses, which now comprise 47 per cent of the group's topline, and that it has added a new product line in construction equipment to its auto platform, and plans to open another 10 KFC stores in the current financial year.
In late May, Yoma released its Q4 FY17 results in which profit after tax and minority interests increased to S$24.1 million, up from S$8.9 million in the same period a year ago, largely due to higher fair-value gains on investment properties and improved gross profit margins driven by the sales of residences and land development rights in Q4 FY17 (as compared to mostly sale of buyback units in StarCity in Q4 FY16).
Sanli Environmental: The company, which debuts on the Catalist board on Thursday, said its initial public offering (IPO) of 52 million new shares was 12.8 times subscribed.
The shares were offered at 22.5 cents apiece, comprising 49.5 million placement shares and a public tranche of 2.5 million.
A total of 6,287 valid applications were received for the public tranche. Altogether, these applicants applied for 625.4 million shares, with application monies received amounting to about S$140.7 million.
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