Company Briefs

Lee Kim Tah posts 48% fall in Q4 profit

LEE Kim Tah Holdings reported a net profit of $7.8 million for the fourth quarter ended Dec 31, 2013, down some 48 per cent year-on-year, while sales slid 5.6 per cent to $28.9 million. For the full year, net profit was up 81.9 per cent at $57.2 million, while sales climbed 17.2 per cent to $98.6 million. Earnings per share were 11.33 cents, up from 6.23 cents. A first and final dividend of two cents per share has been declared.

Rise of 19% in Zagro Asia's FY2013 profit

ZAGRO Asia has reported a net profit of $10 million for the 12 months ended Dec 31, 2013, up 19 per cent from the previous financial year. Turnover for the year under review was up 8 per cent at $138.1 million. Earnings per share were 3.86 cents, up from 3.25 cents previously.

YHI profit falls 52% for FY2013

YHI International reported a net profit of $8.8 million, down 52 per cent for the full year ended Dec 31, 2013, while sales slid 6 per cent to $508.9 million. Earnings per share worked out to 1.51 cents, down from 3.13 cents previously. The firm plans to pay out a first and final dividend of 0.68 cent per share.

Sinwa back in black with $6.8m profit

SINWA swung into the black with a net profit of $6.79 million for the financial year ended 31 Dec, 2013. Meanwhile, revenue increased 13.6 per cent year-on-year to $139.4 million. Earnings per share worked out to 2.03 cents, up from a loss per share of 1.74 cents in FY2012. The directors have proposed a final dividend of $0.01 per share.

HG Metal FY2013 profit hits $3.4m

HG Metal Manufacturing earned a net profit of $3.4 million for the year ended Dec 31, 2013 while revenue worked out to $266 million. Comparisons to the financial period in 2012 are considered not meaningful as the period covers 15 months due to a change in the company's financial year-end. Earnings per share for FY2013 came in at 0.32 cent per share. The directors are recommending a final dividend of 0.1 cent per share.

GLP in venture with Guangdong Holdings

GLOBAL Logistic Properties (GLP) has entered into a strategic alliance with China's state-owned Guangdong Holdings to jointly develop logistics and industrial facilities in Dongguan, Southern China. Both parties will collaborate on the Guangdong GDH Equipment Technology Industrial Park, which will comprise industrial, commercial and residential components. The two parties will jointly develop logistics and industrial facilities on a site area of up to three million square metre in the Park.

Fu Yu in amicable pay dispute settlement

FU YU Corp announced that it has entered into an amicable settlement agreement with ex-employee Chow Weng Fook to resolve claims that Mr Chow may have against the firm stemming from the incentive bonus schemes entered into during the tenure of his employment and the termination of his employment in March last year. The firm will pay Mr Chow $900,000 - without admission of liability under the agreement - in eight equal instalments between 2014 and 2017.