Company News

Micro-Mechanics posted a 96% YoY increase in its net profit to S$2.7m for 2QFY15 and raised its interim dividend payout to 2 S-cents/share for 1HFY15.

MTQ Corporation saw a 66% YoY decline in 3QFY15 PATMI to S$2.21m, due to lower profits from Singapore and losses from Binder Group.

Hai Leck Holdings expects a significant drop YoY in its net profit for 2QFY15, attributing to lower revenue and decline in gross profit margin.

Santak Holdings expects a loss before taxation for 1HFY15, due to lower gross margin and significant costs incurred.

Roxy-Pacific’s associates will acquire a hotel development land parcel in the central business district of Perth, Australia for AUD17m.

Perennial Real Estate Holdings made a letter of participation in relation to acquiring 31.2% equity interest in AXA Tower for S$1.17b.

Ezra’s subsea services division has secured several contracts exceeding US$65m. The Group has also won more than US$355m worth of contracts since the start of 2015.

Japfa strengthens its poultry operations in Myanmar by acquiring the remaining 15% interest in Japfa Comfeed Myanmar it does not own for US$5.7m.

Rex International Holding has signed a farm-in agreement with Tulip Oil Holding’s 90% subsidiary, Rhein Petroleum, to acquire a participating interest in a prospect area known as Altweide, within the exploration licence area of Nördlicher Oberrhein, located in the geological province of Upper Rhine Graben, Germany.

IEV Holdings has secured a contract in India for the supply of its proprietary Marine Growth Preventer (MGP) products valued at a total of approximately US$1.3m.

Hiap Seng Engineering is expected to record a net loss for 3QFY2015 and 9MFY2015. The weaker than expected financial performance is mainly attributable to cost overruns on certain projects.

Blumont Group is expected to report net losses for 4Q2014 and FY2014. The expected losses primarily arose from the fair value readjustments of the Group’s investments in transferable securities (financial assets), attributable to the recent volatility in the financial markets and global economy.