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The European Central Bank delivered the interest-rate reduction it’s been flagging for months — moving away from a record high — but stopped short of indicating more may follow.

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Officials led by President Christine Lagarde lowered the key deposit rate by a quarter-point to 3.75% on Thursday, as expected. Having kept it at 4% for nine months, they said the inflation outlook has improved “markedly,” though they also raised projections for prices.

Yoma Strategic Holdings has reported a net profit of US$21.2 million ($28.5 million) for its FY2024 ended March 31, a turnaround from a net loss of US$63.3 million in the previous year.

Revenue grew by 78.6% y-o-y, reaching a record US$220.8 million in FY2024. This was led by Yoma Land as well as its food and beverages segment, with additional growth in the leasing segment. Meanwhile, the consolidation of Wave Money contributed US$52 million to the revenue. 

Kuok Khoon Hong, chairman and CEO of Wilmar International F34, has again bought more shares in the open market after the company reported lower 1QFY2024 ended March earnings.

On May 8, four entities, in which Kuok was deemed to have an interest, were used to acquire 54,175 shares each on the open market, at an average price of $3.18 each.

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Hong Leong Finance S41 has recorded earnings of $93.4 million for the FY2023 ended Dec 31, 2023, 28.7% lower compared to its earnings of $130.9 million in FY2022.

Net interest income for FY2023 decreased 16.5% y-o-y to $202.2 million on an overall lower net interest margin of 1.5% for the full-year period.

Fee and commission income decreased 39.2% y-o-y to $10.0 million for FY2023 from lending business due to subdued property financing activities in the financial market.   

CFM Holdings 5EB has reported earnings of $980,000 for the 1HFY2024 ended Dec 31, 2023, almost 90% lower than its earnings of $9.4 million in the same period the year before.

The company’s lower earnings were due to the surge in other income in 1HFY2023 from the disposal of non-current asset held for sale of $8.13 million, which stood at $8.4 million. For the six months ended December, other income stood at just $238,000.

Soilbuild Construction Group S7P has secured new construction and precast supply and delivery contracts worth $135.1 million in total.

On Feb 1, the company announced that its wholly-owned subsidiary Soil-Build had been awarded a construction contract by SB (29NIR) Investment to build a five-story industrial complex at New Industrial Road.

Digital Core REIT (DCREIT) DCRU has reported a distribution per unit (DPU) of 3.70 US cents for FY2023 ended Dec 31, 2023, 15.9% below forecast and a 7.0% drop from its FY2022 DPU of 3.98 US cents.

For 2HFY2023, DCREIT posted a DPU of 1.78 US cents, down 19.1% compared to the 2.20 US cents reported the same period last year.

Lendlease Global Commercial REIT (LREIT) JYEU has announced a distribution per unit of 2.10 cents for its 1HFY2024 ended Dec 31, 2023, compared to 2.45 cents for the same period last year, as a result of higher borrowing costs amidst higher interest rates.

For the half-year period, gross revenue was up 17.9% y-o-y to $119.9 million, boosted by improved operational performance from the REIT’s retail malls and recognition of supplementary rent from the lease restructure with Sky Italia.