Corporate digest

Lion Asiapac

BOOSTED by an income tax credit, Lion Asiapac turned in a profit of S$1.08 million for the quarter ended Sept 30, up from S$204,000 in the corresponding quarter a year ago. This was despite a 46 per cent slide in revenue to S$4.09 million as tepid market demand resulted in lower revenue from lime manufacturing. Meanwhile, with persistent weak demand for steel, there was no revenue generated from trade. Earnings per share came to 1.33 Singapore cents, increasing from 0.25 cent a year ago. A tax credit of S$0.47 million was recorded for accounting for temporary exchange losses due to the weakening ringgit against a S$0.12 million tax expense in the last corresponding quarter. The group said it will remain vigilant, given the backdrop of market uncertainty, weakening demand and stiff competition that continue to threaten its core business.

TEE Land