Corporate digest

TTJ Holdings

TTJ Holdings has bagged new public sector and industrial contracts worth S$16 million, bringing its current order book to S$146 million, the structural steel fabricator announced on Thursday after the market closed. The new contracts are expected to be delivered between the 2016 and 2018 fiscal years, and include steelworks for Phase 3 of the Singapore LNG Terminal and a civil-defence doors project for the Thomson-East Coast rail line.

New Wave Holdings

NEW Wave Holdings plans to place out up to 150 million new shares at 0.92 Singapore cent apiece to raise up to S$1.38 million, the aluminium products distributor announced on Thursday after the market closed. The placement shares represent 10.3 per cent of the company's existing issued share capital and 9.3 per cent of enlarged share capital. The issue price represents a 9.8 per cent discount to the company's volume-weighted average price of 1.02 Singapore cents on Thursday. The stock closed at 1.1 Singapore cents. The company will use 70 per cent of the proceeds for business development and strategic expansion, and the remaining 30 per cent for general working capital. DBS Vickers Securities is the agent for the placement.

Healthway Medical Corp

CLINIC operator Healthway Medical Corp fell into a S$3 million, or 0.13 Singapore cent per share, net loss for the three months ended September. The company earned S$10.7 million in the same period a year earlier. Other operating income fell 78.3 per cent to S$2.6 million because the year-ago figure received a S$9.6 million boost from selling financial assets. Total operating costs increased by 26.8 per cent to S$28.5 million as the company recognised a S$3 million impairment loss for receivables from a non-related company and a S$1.5 million impairment loss for loan receivables from medical centres in China.

Sapphire Corp

MINING and infrastructure engineering company Sapphire Corp has entered into a three-year memorandum of understanding with CPG Corp to jointly explore infrastructure development projects in China and other Asian emerging markets. Sapphire will be pursuing the projects through its recently acquired China-based subsidiary, Ranken, which specialises in rail projects.