Month: August 2009
MREIT Blog
Dear All,
Some of you may have noticed that one of our blogs, http://mreit.blogspot.com/ (on Malaysia REITs) had been removed by blogger (the service provider) as of yesterday. We do not know the reasons behind this and have appealed to them. We have yet to receive any reply.
In the meantime, we have created a temporary replacement at http://m-reit.blogspot.com/ but currently, there’s only one entry (July 2009).
This sudden action by blogger has made us realized how vulnerable we are, of losing all our data. We will be considering the possibilities of creating a mirror site with another blog service provider or to start our own website (so that we won’t be at the mercy of any provider). So, watch this space as we will keep you updated of our alternative actions.
Thank You!
SingTel
SingTel’s Optus launches 2b euro note programme
SINGAPORE Telecommunications yesterday said that wholly owned Optus Finance Pty has set up a two billion euro (S$4.1 billion) medium-term note programme.
Under the programme, which is guaranteed by SingTel Optus Pty and certain of its subsidiaries, the issuer may from time to time issue notes in series or tranches, in various amounts and tenors, and denominated in any currency agreed. They may bear fixed, floating or variable rates of interest or not at all. The notes will constitute unsecured obligations of Optus Finance.
The notes programme has been rated Aa3 by Moody’s Investors Service and A+ by Standard & Poor’s.
SingTel Optus, the Australian unit of the homegrown telco, recently clinched a A$186.5 million (S$223.4 million) contract from the Australian Taxation Office, its largest federal government deal from Down Under. SingTel Optus accounted for 29 per cent of the group’s earnings before interest, taxes, depreciation and amortisation (Ebitda) for the fourth quarter ended March. In the same quarter, the unit saw net profit rise 17 per cent to A$193 million. SingTel posted a 17.3 per cent drop in Q4 net income to $903 million. Full-year earnings fell 12.9 per cent to $3.45 billion, on a 0.6 per cent increase in revenue to $14.9 billion.
SMRT – BT
SMRT Q1 net rises 19.6%
BOLSTERED by higher operating profits, SMRT Corp posted a 19.6 per cent year-on-year jump in net profit to $48.2 million for the first quarter of FY2010 ended June 30, 2009.
Group revenue was generally flat compared with the previous corresponding quarter, dipping $0.1 million to $215.8 million due to a smaller average hired-out taxi fleet and the fare reduction package which started on April 1.
Earnings per share for the quarter were 3.2 cents, up from 2.7 cents.
Revenue from train operations decreased by 0.02 per cent to $115.6 million due to a lower average fare, although this was partially offset by higher average daily ridership.
LRT revenue was 0.3 per cent lower at $2.2 million and taxi rental revenue fell 6.6 per cent to $17.7 million because of a smaller average hired-out fleet.
While revenue from bus operations decreased by 3.7 per cent to $49 million as a result of both lower average fare and average daily ridership, operating profit came to $1.2 million, thanks to lower diesel costs, against a loss of $3.5 million a year ago.
Rental revenue rose 11.9 per cent to $15.5 million on the back of better yield and increased space, though advertising revenue fell by 4.5 per cent to $5.4 million because of the weak economic climate.
Meanwhile, revenue from engineering and other services was 18.9 per cent higher at $10.6 million.
The transaction to acquire a 49 per cent stake in Shenzhen Zona Transportation Group is expected to be closed in a few months though it is subject to certain conditions.
‘For the next 12 months, the profitability of the group will be impacted by the continuing volatility in diesel prices, fare reduction package and the ramp-up costs for the progressive opening of the remaining Circle Line stations,’ Lim Cheng Cheng, SMRT’s executive vice-president and chief financial officer, said.
SMRT expects revenue from train, bus and taxi operations as well as from advertising to be lower year-on-year in Q2 FY2010, although it reckons that increased lettable space will push up rental revenue.
Group operating expenses are expected to rise on the back of more repairs and maintenance and higher staff and related costs.
SMRT closed one cent higher at $1.70 yesterday.