Singapore companies report varied financial and operational updates

Several Singapore-listed companies reported significant financial and operational developments. Singapore Airlines (SIA) reported a 2.6 per cent year-on-year increase in group passenger traffic for July, with SIA and Scoot carrying a combined 3.7 million passengers. Passenger capacity rose 5.5 per cent, supported by network expansions in East Asia, Europe, and the south-west Pacific.

Straits Trading Company reported a narrowed net loss of S$11.1 million for the first half of the year, down from a S$40.8 million loss in the previous year. The company's H1 revenue increased 49.5 per cent to S$400 million. Conversely, OUE reported a net loss of S$114.6 million for the same period, compared to a profit of S$35.6 million last year, largely due to a S$47 million impairment loss related to its investment in Gemdale Properties and Investment.

In other developments, Elite UK Reit entered a £50 million term and revolving facilities agreement to refinance existing loans and support working capital. Meanwhile, Koh Brothers Eco Engineering disclosed three legal disputes involving joint ventures, consortiums, and subcontractors, which could result in potential liabilities of up to S$57.6 million.