Industry News

UMS Integration Limited has announced a remarkable 90% increase in net profit, reaching $19.8m for the second quarter of the financial year 2026 (Q2 ). This surge is attributed to a 29% rise in revenue to $87.1m, fuelled by robust performance in its semiconductor and aerospace sectors amidst a global AI-driven semiconductor “super-cycle” and a sustained aviation boom.

The company’s revenue from the semiconductor segment rose by 28% to $75.5m, whilst aerospace revenue saw a 59% increase to $8.6m. Geographically, significant growth was recorded in Malaysia and Korea, with revenues increasing by 50% and 347% respectively, due to heightened semiconductor component shipments.

UMS has declared a second interim dividend of 1.0 cent per share, bringing total dividends to 2 cents per share for the first half of FY2026. The group’s financial health remains robust, with a strong cash flow and a positive outlook for continued growth. CEO Andy Luong expressed optimism, stating, “Our key customers have given strong forecasts of equipment demand for several years ahead.”

Looking forward, UMS is poised to benefit from the anticipated rise in global semiconductor manufacturing equipment sales, projected to reach US$165.9b in 2026. The company is also expanding its capacity in Penang and Vietnam to meet growing customer demand, positioning itself for long-term growth in the thriving semiconductor and aerospace markets.

Nam Cheong Limited, a leading offshore support vessel provider in South East Asia, reported a significant 82.9% increase in net profit for the first half of 2026, reaching RM164.4m. This surge was primarily driven by a 25.2% rise in revenue to RM348.3m, largely attributed to the shipbuilding segment, which contributed RM89.7 million.

The shipbuilding segment marked its first revenue stream in six years, benefiting from the sale and delivery of one vessel and ongoing construction projects. This revival in shipbuilding contributed to a gross profit of RM22.7m and a gain from vessel sales of RM101m, indicating a positive shift in the shipbuilding cycle.

Despite these gains, the overall gross profit declined by 3.0% to RM137.1m, with the gross margin narrowing by 11.4 percentage points to 39.4%. This was due to a revenue mix shift and lower margins in the chartering segment, which saw a 7.1% decline in revenue to RM258.6m, affected by lower utilisation of accommodation vessels.

Nam Cheong’s financial health improved, with the net gearing ratio dropping from 0.27x at the end of 2025 to 0.10x by mid-2026. This was aided by a RM101.0m gain from vessel disposals, part of the company’s strategy to repay debt and reprofile its fleet.

Looking forward, CEO Leong Seng Keat expressed optimism, noting the company’s plans to add five vessels to its fleet by year-end and the strong demand for shipbuilding services. The company remains focused on execution and customer engagement to deliver long-term value.

OKP Holdings Limited has been awarded a significant contract worth $90.6m by the Land Transport Authority (LTA) to enhance the Dawson Road network in Singapore. The project, set to commence in August 2026, involves the design and construction of a new extension of Kay Siang Road and the widening of Tanglin Road and Kay Siang Road, along with associated infrastructure improvements.

The contract, spanning 42 months, will see OKP’s subsidiary, Or Kim Peow Contractors, undertake extensive roadworks, including recambering, raising, milling, and overlaying existing roads. The project also encompasses the relocation and construction of bus stop shelters, covered linkways, and a new cycling path network, enhancing commuter infrastructure along Kay Siang Road, Tanglin Road, Queensway, and Margaret Drive.

This new contract boosts OKP’s net construction order book to $797.9m, with projects extending until 2031. The Group’s Managing Director, Or Toh Wat, expressed gratitude for the opportunity to contribute to Singapore’s infrastructure development, stating, “This latest contract win further strengthens OKP’s position in Singapore’s public infrastructure sector.”

The announcement follows OKP’s recent financial results, which revealed a 43.8% increase in net profit to $27.3m for the first half of 2026. The company also declared a special interim dividend to commemorate its 60th anniversary. With Singapore’s ongoing investment in infrastructure.

Seatrium, a leading provider of specialised engineering solutions, has announced a Letter of Intent with Golar LNG Limited to advance a potential third Floating Liquefied Natural Gas (FLNG) conversion project. This collaboration builds on Seatrium’s successful delivery of two previous FLNG conversions for Golar, namely FLNG Hilli Episeyo in 2017 and FLNG Gimi in 2023.

The new project aims to finalise an Engineering, Procurement, and Construction (EPC) contract by the second half of 2026. Seatrium and Golar will work together on technical design development and project definition activities, supported by an upfront consideration for Seatrium’s efforts prior to the EPC contract execution.

The demand for LNG is expected to grow by approximately 65% by 2050, reaching nearly 700 metric tonnes per annum. As countries seek to enhance energy security, FLNG conversion is emerging as a flexible solution to unlock offshore gas resources, allowing for production, liquefaction, and export directly at sea.

Marlin Khiew, Executive Vice President of Seatrium Energy (Projects), expressed pride in partnering with Golar again, highlighting Seatrium’s proven track record in delivering complex floating gas solutions. Morten Skjong, Chief Technical Officer of Golar, emphasised the long-standing partnership with Seatrium and the potential for further FLNG projects.

With increasing LNG demand and interest in flexible gas monetisation solutions, Seatrium is well-positioned to support customers across the LNG value chain through its comprehensive engineering, conversion, and EPC capabilities.

Genting Singapore Limited has reported a stable revenue of $1.2b for the first half of 2026, buoyed by a 6% increase in non-gaming revenue despite a 4% decline in gaming revenue. The company announced an adjusted EBITDA of $389.8m, marking an 8% decrease from the previous year, largely due to higher depreciation and lower interest income.

The company’s flagship, Resorts World Sentosa (RWS), showed resilience with a 12% year-on-year improvement in adjusted EBITDA, reaching $210.8m in the second quarter. This growth was supported by new attractions and operational resilience, even as tourism arrivals moderated and consumer spending became more cautious.

RWS is undergoing a transformation, with plans to refresh and upgrade key facilities, including Hotel Michael and Crockfords Tower, to enhance guest experiences. New and revitalised facilities are expected to be introduced progressively through 2027 and 2028. The resort’s retail enclave, WEAVE, recently received the Outstanding Retail Experience award at the Singapore Tourism Awards 2026.

Chairman and Acting CEO Tan Sri Lim Kok Thay stated, “RWS has entered a new chapter. With a new committed and energised leadership team and a clear transformation roadmap, we are now building a bold, dynamic and innovative resort.”

The Board of Directors has declared an interim dividend of 2.0 cents per share, reflecting a commitment to stable shareholder returns whilst maintaining financial flexibility for ongoing capital commitments. RWS 2.0 is on track for completion by 2030, aligning with the Greater Sentosa Master Plan.
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CSE Global Limited, a global systems integrator, has announced a 27.4% increase in revenue for the first half of 2026, reaching $561.5m. This growth, compared to $440.9m in the same period last year, is largely attributed to the Electrification business segment’s success in the Americas, particularly in the data centre market. The company’s gross profit also saw an 8.8% rise, amounting to $133.7m, whilst adjusted net profit was $13.9m.

The Group’s Managing Director and CEO, Lim Boon Kheng, highlighted the strategic focus on long-term demand and disciplined execution. “Our approach remains measured and deliberate, focusing our investments where we see long-term demand, scaling our capabilities according to customer needs, and maintaining disciplined execution and returns,” he stated.

CSE Global’s order intake increased by 28.3% year-on-year, with a robust order book of $620.4m as of 30 June 2026. Despite a healthy business outlook, the company anticipates moderated earnings growth for the full year due to investments in a new production facility and costs related to winding down water and wastewater projects.

The Board of Directors has proposed a one-tier tax-exempt interim dividend of 0.91 Singapore cents per ordinary share, scheduled for payment on 30 September 2026. This reflects the company’s commitment to delivering shareholder value amidst ongoing strategic investments.

Yangzijiang Maritime Development Ltd. has announced new financing agreements for four vessels, valued at US$42.2m, under its maritime financing business. The agreements, covering two chemical tankers, one bulk carrier, and one anchor handling tug supply vessel, will generate recurring income over lease periods ranging from three months to eight years.

The company expects these agreements to positively impact its financial performance by providing contracted and predictable cash flows. This aligns with Yangzijiang Maritime’s strategy of optimising returns from its maritime assets through proactive asset monetisation and recurring lease income.

Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, emphasised the importance of leasing as a key component of the company’s business model. “Together with our vessel monetisation strategy, leasing enables us to optimise the utilisation of our existing fleet of maritime assets whilst providing a stable and recurring income base,” he stated.

Yangzijiang Maritime, with a fleet of over 120 vessels, including newbuilding orders, is well-positioned to capitalise on opportunities within the global maritime industry. The company aims to generate multi-source returns across different stages of the maritime cycle through its asset-light business model.

As a one-stop maritime financial solutions provider, Yangzijiang Maritime continues to leverage its diversified portfolio and strategic partnerships to create value across the maritime industry cycle. The company’s approach combines recurring lease income with disciplined capital deployment and proactive asset monetisation to strengthen its business model’s resilience.

Foundation Healthcare Holdings Limited (FHH) has reported a 20.2% increase in revenue for the first half of 2026, reaching $129.2m. This growth is largely attributed to the robust performance of its specialist segment, which contributed $125.7 m, marking a 20% year-on-year increase.

The company has been actively expanding its specialist network, ending the first half of 2026 with 108 specialists. This includes 75 established and 33 emerging specialists. In July, four additional specialists joined, bringing the total to 112. FHH’s CEO, Liaw Yit Ming, highlighted the company’s focus on expanding its specialist base and clinic footprint, as well as launching and renovating medical centres. “We are pleased to report revenue growth of 20% in our debut earnings announcement, demonstrating the scalability and strength of our platform,” he stated.

FHH has also been investing in its infrastructure, with notable developments such as the reopening of the expanded FAC Orchard and the launch of the Foundation Oral Maxillofacial Surgery Centre, which features Singapore’s first autonomous dental implant surgical robot. These investments are part of FHH’s strategy to support future growth and increase patient volumes through strengthened insurer partnerships and GP referral networks.

Looking ahead, FHH plans to continue its international expansion into markets like Malaysia and Hong Kong, where it sees significant growth potential. The company is also focused on increasing utilisation at its medical centres and further integrating its ecosystem to enhance patient access and care coordination.

DBS has announced a series of senior leadership appointments as part of its commitment to nurturing talent from within the organisation. The changes, effective from December 2026 to March 2027, follow the retirement of Sebastian Paredes, Head of North Asia and CEO of DBS Bank (Hong Kong), who will transition to a Senior Adviser role.

Ng Sier Han, currently CEO of DBS Taiwan, will take over as CEO of DBS Bank (Hong Kong) on 1 March 2027. Lim Chu Chong, the current President Director of DBS Indonesia, will become CEO of DBS Taiwan starting 1 January 2027. Adrian Chai, a Managing Director in the Institutional Banking Group, will assume the role of President Director of DBS Indonesia on 1 December 2026.

Paredes, who has led DBS Bank (Hong Kong) since 2010, has been instrumental in achieving a record net profit of $1.61b in 2025 and securing accolades such as Best International Bank in Hong Kong. His strategic leadership also bolstered DBS’ Greater China operations, which reported a net profit of $791m in 2025.

Ng has been pivotal in integrating Citi’s consumer business in Taiwan, leading to a record net profit of $410m in 2025. Lim has driven DBS Indonesia’s growth, achieving double-digit net profit growth and recognition as Indonesia’s Best Digital Bank for Large Corporates in 2025. Chai has strengthened DBS’ Institutional Banking Group, particularly in sectors like Automotive and Agribusiness.

DBS CEO Tan Su Shan expressed gratitude for Paredes’ contributions and confidence in the new appointees, highlighting their deep institutional knowledge and strong client relationships. These appointments underscore DBS’ strategy of leveraging internal talent to sustain its leadership in Asia’s dynamic markets.

SBS Transit has announced a 5.3% increase in revenue for the first half of 2026 (H1), reaching $785.6m, compared to $745.9m in the same period last year. However, the company experienced a 5.5% decline in profit after taxation, totalling $29.4m, down from $31.1m in H1 2025.

The increase in revenue was driven by higher operational activities, but rising costs in fuel, electricity, and maintenance impacted overall profitability. Fuel and electricity costs surged by 36.5% to $138m, whilst repairs and maintenance costs rose by 6.4% to $94.7m. Despite these challenges, SBS Transit managed to keep staff costs relatively stable, with a modest increase of 2.4%.

Operating profit remained almost unchanged, with a slight decrease of 0.3%, totalling $34m. Interest income saw a significant drop of 57.3%, contributing to a 6% decrease in profit before taxation, which stood at $35.5m.

The company’s financial position showed a decrease in total assets to $992.8m from $1,093m at the end of 2025. This was partly due to a reduction in cash and cash equivalents, which fell to $310.1mfrom $384.3m.

Looking ahead, SBS Transit will need to address the rising operational costs to maintain profitability. The company has also declared a dividend payment of $127.1 million, reflecting its commitment to returning value to shareholders despite the challenging financial landscape.
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