Corporate digest

Rickmers Maritime Trust

RICKMERS Maritime Trust sank into the red with a net loss of US$74.68 million for the third quarter ended Sept 30, versus a net profit of US$8.99 million a year ago, weighed down by an impairment charge. It recognised a non-cash impairment of US$69.1 million in Q3 2016, which was applied to 15 vessels in the fleet. Revenue fell 43 per cent year-on-year to US$15.64 million. Loss per share for the quarter was 8.49 US cents, compared to earnings per share of 1.04 US cents a year earlier.

Mencast Holdings

OFFSHORE services provider Mencast Holdings on Monday warned of a loss for its third-quarter and nine-month results. The protracted weakness and uncertainty in the oil and gas industry has significantly affected the businesses of its offshore and engineering segment, it said. The firm will announce its results for the quarter ended Sept 30 on Nov 4.

iX Biopharma

HOMEGROWN specialty pharmaceutical company iX Biopharma has been granted a patent in Canada for its WaferiX drug delivery technology. The grant of the Canadian patent expires on Oct 26, 2030.

Canada has a potential market size of C$515 million (S$535 million) and C$97 million for opioids and sleep aids, the company said, citing the Patented Medicine Prices Review Board of Canada and Euromonitor respectively.

Ley Choon Group

LEY Choon Group Holdings' subsidiary, Chin Kuan Engineering and Contractors, has won a contract from the Public Utilities Board.

The contract, worth approximately S$4.8 million, is for the replacement and network enhancement of watermains, it said in a release to the Singapore Exchange on Monday.