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Saxo Bank claims against Innopac resume; unrelated Innopac MOU terminated

11 Nov 2019 - The Business Times
Investment holding company Innopac Holdings on Monday night said that Saxo Bank has resumed its claims of nearly S$14.7 million against the company, over the negative account balances of two subsidiaries. Although Innopac had filed counterclaims against Saxo Bank, stating that the negative balances were ...
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Mapletree Commercial Trust's preferential offering 1.45 times subscribed

11 Nov 2019 - The Business Times
MAPLETREE Commercial Trust (MCT) has raised S$460.5 million in gross proceeds from its preferential offering, which was 1.45 times subscribed, it said on Monday night. Some 205.6 million new units will be issued on the basis of 71 new units for every 1,000 existing units in MCT. The issue price for the ...
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United Engineers Q3 profit lifted by S$65.2 million net revaluation gain

11 Nov 2019 - The Business Times
REVALUATION gains from four investment properties lifted United Engineers' (UE) net profit to S$84.8 million in the third quarter, up from S$7.7 million in the same period a year earlier. Excluding the net revaluation gain of S$65.2 million, net profit would have been S$19.6 million, an increase of 156 ...
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Rich Capital JV being sued by main contractor in Batam

11 Nov 2019 - The Business Times
A JOINT-VENTURE vehicle linked to Rich Capital is being sued by the main contractor of its Oxley Convention City project in Batam, Indonesia. The contractor, Rich-Link Konstruksi (RLK), commenced a lawsuit against Oxley Karya Indo Batam (OKIB), Indonesian joint venture partner Karya Indo Batam (KIB) ...
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GSH Q3 profit triples on contributions from KL project

11 Nov 2019 - The Business Times
Net profit for GSH Corporation more than tripled in the third quarter ended Sept 30, the property developer said on Monday. This came on the back of contributions from its maiden project in Kuala Lumpur, it said. Net profit was S$7.25 million compared with S$2.09 million a year ago, and revenue was up ...
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Singapore shares drop 0.7% on Monday after HK unrest, doubts over US-China trade deal

11 Nov 2019 - The Business Times
Local equities got the week off to a rough start after doubts emerged over US-China trade talks and tensions in Hong Kong seemed to hit fever pitch once again, with one person shot by police and another reportedly set alight by protestors. The Straits Times Index (STI) could not shrug off those concerns ...
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Vicom net profit up 6.5% to S$7.2m in Q3

11 Nov 2019 - The Business Times
TECHNICAL testing and vehicle inspection group Vicom has posted a net profit of S$7.2 million in the third quarter, up 6.5 per cent from the same period a year earlier. Revenue in the three months ended Sept 30 was S$26.4 million, up 4.7 per cent from the same period a year earlier on higher business ...
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Vividthree posts Q2 net profit

11 Nov 2019 - The Business Times
Vividthree Holdings on Monday reported a net profit of S$208,187 for the second quarter ended Sept 30, compared to a net loss of S$456,659 a year ago. This came on the back of revenue more than doubling to S$1.8 million from S$670,800 in the previous Q2, attributed to the completion of post-production ...
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Vallianz warns of expected Q2 loss

11 Nov 2019 - The Business Times
Catalist-listed Vallianz Holdings said on Monday that it expects to post a net loss for the second quarter ended Sept 30. In a bourse filing, the group said the losses are due mainly to the decline in profit margins from its chartering business. Vallianz provides offshore support vessels and offshore ...
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Food Empire profit up 34.4% to US$7.9 million in Q3

11 Nov 2019 - The Business Times
FOOD Empire, which manufactures instant coffee and snacks, has posted a net profit of US$7.9 million in the third quarter, up 34.4 per cent from the same period a year earlier on sales growth in Russia, Ukraine and IndoChina. Revenue in the three months ended Sept 30 rose 5.4 per cent to US$76.8 million, ...
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