Freight Links Express

Freight Links Express: Group posted 3Q13 results, revenues increased 16.9% y/y to $43.1m, earnings increasing 129.1% y/y to $8.7m. Good results mainly due to gain in fair value on marketable securities ($2.4m compared to a loss on fair value of $2.5m in 3Q2012), higher dividend income from Sabana REIT and interest income from investment in associate. Also, the warehousing and logistics business recorded a 55.4% y/y increase to $31.7m in revenue, mainly attributed to the commencement of the new ISO tank operation business from 1 May 2012. The construction of the Group’s new integrated chemical logistics hub on Jurong Island is progressing as planned. The temporary occupation licence Building and Construction Authority had been issued for Phase 1 at Open Yard Storage Area and Phase 2 at Bromine Storage Area.