CSM Forecasts Loss On Costs & Weaker Dollar
Chartered Semiconductor Manufacturing (CSM), the maker of chips that power the Xbox 360 game console, unexpectedly forecasted a 3Q loss because of higher material costs and the weaker dollar. The loss will range from US$24m to US$34m in the three months to 30 September. The company was projected to post net income of US$7.9m, based on the median estimate of four analysts surveyed by Bloomberg.

M1 Posts 1.2% Net Profit Rise For 2Q08
2Q08, net profit for MobileOne (M1) rose 1.2% to $41.1m as Singapore’s third ranked telco struggled with higher customer costs in a competitive market. But M1 did not disappoint shareholders and announced a higher interim dividend of 6.2 cents from 2.5 cents a year ago. For 1H08, net profit decreased 12.4% to $79.1m, as the previous corresponding period gained from a tax adjustment. On prospects for the rest of the year, M1 said full mobile number portability was introduced on 13 June 2008 and during the quarter, the mobile market saw an increase in competitive activities, and as expected, M1 saw increases in both its acquisition and retention costs. This level of competitive activities is likely to settle down in a quarter or two.

SIA Engineering Rakes In $58.7m Net Profit For 1Q09
SIA Engineering has reported a net profit of $58.7m for its fiscal first quarter ended 30 June 2008. This is a decrease of 16.7% or $11.8m from the corresponding period last year. Revenue fell 7.4% or $19.9m to $250.2m. SIA Engineering said that airframe maintenance and component overhaul revenue decreased by 17.6% due mainly to lower material usage and component work. The decrease was partially offset by higher line maintenance revenue with more flights handled and a turnkey project to re-design, retrofit and overhaul a B747-400. SIA Engineering said that associated and joint venture companies saw profits increase by 7.4% or $3m to $43.6m. This represents a contribution of 66.6% to the group’s pre-tax profits.

Sim Siang Choon Inks MOU To Acquire Chase Perdana
Sim Siang Choon has entered into a binding MOU with Empire Holdings, the controlling shareholder of Chase Perdana in relation to a proposed acquisition by Sim Siang Choon of up to 100% of the entire issued and paid-up share capital of Chase Perdana. Chase Perdana is in the real estate development and construction industry, engaging in diversified operations in the property development and investment, financial services and civil engineering sectors.

Jadason Expects Losses For 2Q08
Jadason Enterprises expects to incur a loss for the second quarter ended 30 June 2008. However, for the half-year ended June 30, it expects to report a profit. The loss in 2Q08 was attributed to the delay in shipment of printed circuit board (PCB) equipment, at the request of its customers. Jadason also cited the current weak mobile phone market in China, which affects demand for its PCB drilling and PCB mass lamination services. Losses were also incurred at its PCB drilling operations in Malaysia in June 2008.

SATS Reports 27.7% Net Profit Dip In 1Q09
Singapore Airport Terminal Services (SATS) reported a 27.7% year-on-year fall in its fiscal first quarter net profit to $34.5m for the three months ended 30 June 2008. The weaker performance was due to higher operating costs. Operating expenditure for the Singapore Airlines’ subsidiary rose 10.2% to $205.8m as a result of higher staff costs for Terminal 3 operations at Changi Airport, as well as higher fuel, utilities and food costs. SATS warned the slowing world economy would continue to dampen global air traffic growth.