Corporate digest

Published Fri, May 28, 2021 · 05:50 AM

Boustead Singapore

MAINBOARD-LISTED Boustead Singapore's second-half net profit has more than quadrupled to S$91.3 million from S$18.5 million the previous year, largely due to its real estate division's successful launch of the Boustead Industrial Fund (BIF).

The board has proposed a final ordinary dividend of three Singapore cents per share and a special dividend of four Singapore cents per share, subject to shareholders' approval.

Revenue for the second half fell 9 per cent year-on-year to S$396 million, dragged by its real estate division (Boustead Projects) as a result of the Covid-19 pandemic.

This was mostly mitigated by positive revenue performances from its energy engineering division and geospatial division.


Old Chang Kee

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The group posted a H2 profit of S$2.6 million, reversing its loss of S$705,000 the previous year. This was in part due to its S$2.2 million gain in other income to S$2.9 million for the half-year, attributable to government grants such as job support scheme, wage credit scheme and special employment scheme and property tax rebates.

Revenue fell 14.5 per cent to S$37.1 million from S$43.4 million mainly due to a decrease in revenue from retail outlets, offset by higher revenue from delivery and catering sales.

Earnings per share stood at 2.14 Singapore cents, up from a loss per share of 0.58 cent.

The board has recommended a final dividend of one Singapore cent per share versus 0.5 cent last year.


Sunpower Group

MAINBOARD-LISTED Sunpower Group has completed the construction of the steam distribution pipeline that connects its Changrun project to a Chinese textile company's facilities.

The company, made up of Hebei Sanli Group and Hebei Sanli Wool Spinning, is collectively known as Sanli.

The Changrun project (phase one) has been operational since 2017 and is equipped with two steam boilers.

The large and stable demand for steam from Sanli is expected to generate additional recurring revenue and income for the group from 2021 and further raise the project's investment return, said Sunpower in a statement on Thursday.


LY Corporation

The company, which makes and exports wooden bedroom furniture, said on Thursday that it is allowed to operate at 60 per cent of its overall manpower capacity following a tighter 14-day movement control order from May 25 to June 7 imposed by the Malaysian government.

Barring unforeseen circumstances, the compliance by the group with this latest measure is not expected to have a significant impact on the group's financial performance for the financial year ending Dec 31, 2021.

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