Corporate digest

Boustead Projects

BOUSTEAD Projects has reported record earnings for the second half of financial year 2021, following the divestment of interests in 14 properties to an industrial fund.

The property firm intends to reward shareholders with a special dividend of 14.5 Singapore cents in addition to a final dividend of 0.9 cent, Boustead Projects' regulatory statement to the Singapore Exchange on Tuesday showed.

Boustead Projects generated S$133.9 million in net profit for the second half of the financial year ended March, more than 10 times the S$12.6 million it chalked up in the corresponding period a year ago.

The property group was able to unlock value when it divested interests in 14 leasehold properties out of its portfolio of 25 to the Boustead Industrial Fund that it launched.

Excluding the one-off, it would, however, have made a loss of S$0.9 million for H2 FY2021, mainly attributable to lower profit from the engineering & construction segment.

Top Global

THE group said in an SGX filing on Monday that a voluntary conditional cash offer to take Top Global private has turned unconditional. As at 6pm on May 24, offeror SW Investment Holding owned, controlled, had agreed to acquire or had received valid acceptances for 90.28 per cent of the total number of shares in Top Global, or an aggregate of about 290.1 million shares.

SW Investment announced its intention to make a voluntary conditional cash offer for all the issued and paid-up ordinary shares of Top Global in April at S$0.39 apiece, with a view to delisting it from the Singapore Exchange Securities Trading.

SingHaiyi Group

THE mainboard-listed real estate developer sank into the red for the second half ended March 31 with a net loss of S$8.7 million.

In the same period last year, it recorded a net profit of S$4.9 million. The results translate to a loss per share of 0.207 Singapore cent, against earnings per share of 0.117 cent, according to results released on Tuesday.