Corporate digest

AEM Holdings

MAINBOARD-LISTED AEM Holdings has raised its FY2020 revenue guidance to between S$500 million and S$520 million based on sales order visibility and business outlook.

This comes as the group announced a near doubling of revenue year on year for the fiscal third quarter ended Sept 30. AEM, which provides advanced chip-testing solutions, previously announced on Sept 10 an upward revision to its revenue guidance to be between S$480 million and S$500 million for FY 2020.

Kingsmen Creatives

A MALAYSIA-BASED subsidiary of communication design and production group Kingsmen Creatives is set to sell a freehold property in Selangor for RM10 million (S$3.26 million), the mainboard-listed company said on Wednesday.

The property is currently rented to a tenant for rental income, Kingsmen said.

It added that the selling price is RM5.1 million over the book value of the property as at Sept 30. The funds will be used to repay the mortgage loan and for the general working capital requirements of the seller.

Trek 2000 International

EMBATTLED Trek 2000 International has reported a net loss after tax attributable to owners of the company of US$700,000 in Q3, compared with a net profit of US$4,000 during the same period last year.

The mainboard-listed company attributed the loss to a decrease in the market price of products in the face of increased competition during the Covid-19 pandemic.

ISDN Holdings

MOTION control systems specialist ISDN Holdings said its net profit has more than doubled to S$15.1 million in the first nine months of 2020, up from S$7.3 million in the same period last year.

Revenue during this period also grew 24.7 per cent year on year to S$264 million. The mainboard-listed company said this was propelled by continued strong demand for industrial automation solutions from China and South-east Asia.