Company News

Sarine Technologies’ profitability for the quarter was affected by current industry conditions and also higher operating expenditures. Revenues for the quarter were impaired by around 50% as compared to the same quarter 2014. Issues of rough vs. polished prices, inventory overhang and working capital liquidity had resulted in an overall negative sentiment in the midstream of the diamond industry during the first quarter of 2015, and manufacturers had reduced output by some 20 – 30% accordingly. Coupled with an anticipated expanded operating expenditures in 2015 primarily for Research and Development and Sales and Marketing, Sarine expects to more or less break even (EBITDA and cash flow should be positive).

Tigerair operating statistics for March 2015. For the month of March 2015, the airline operations in Singapore recorded a 12.1% y-o-y decline in traffic to 772 million revenue passenger-kilometres (RPK), while capacity decreased by 12.4% to 972 million available seat-kilometres (ASK). Consequently, y-o-y passenger load factor increased by 0.2 percentage point to 79.4%. The number of passengers carried fell by 14.5% y-o-y to about 412,000. For the 12 months to March 2015, traffic increased by 4.0% y-o-y to 9.7 billion RPK, while capacity decreased by 1.1% to 11.8 billion ASK. Consequently, passenger load factor was 4.0 percentage points higher at 82.1%. The number of passengers carried grew by 1.4% to 5.1 million.

Yoma Strategic Holdings said that US investment firm Eaton Vance Corp has been a substantial shareholder of the company since October. Eaton has a 5.02 per cent stake in the company, according to Yoma.

KrisEnergy has been awarded the front-end engineering and design contract for the Lengo gas development offshore East Java in Indonesia, and has commenced geophysical and geotechnical surveys at the platform site as well as along the proposed platform-to-shore pipeline route and onshore receiving terminal location.