Corporate digest

Emas Offshore

OFFSHORE support services provider Emas Offshore on Wednesday said the High Court has ordered that a winding up order be made against its wholly owned unit, Lewek Champion.

At the hearing for the winding-up application on July 14, the High Court also ordered that Andrew Grimmett and Lim Loo Khoon of Deloitte & Touche LLP be appointed as joint and several liquidators of Lewek Champion.

Emas Offshore is a majority-owned unit of offshore services firm Ezra Holdings, which has filed for Chapter 11 bankruptcy protection.

Viva Industrial Trust

VIVA Industrial Trust's distribution per stapled security rose 6.3 per cent to 1.861 Singapore cents for the second quarter as net property income grew 17.5 per cent to S$20.2 million. Gross revenue for the three months ended June 30 increased by 18 per cent to S$27.6 million, partly driven by higher contributions from Viva Business Park, where renovations were recently completed.

First Sponsor Group

FIRST Sponsor Group's net profit rose 8.8 per cent to S$9.4 million, or 1.59 Singapore cents per share, in the second quarter amid ongoing sales at its Millennium Waterfront project in Chengdu, China. The China- and Netherlands-focused property developer has declared an interim dividend of one Singapore cent per share for the period.

Revenue rose 27.7 per cent to S$53.9 million for the three months ended June 30. First Sponsor said it has sold more than 99 per cent of the 7,302 residential units at the Millennium Waterfront amid the imposition of several property cooling measures by the Chinese central government. The company is assessing the development feasibility of the remaining phase of the project in view of current market conditions.

CNMC Goldmine

CNMC Goldmine Holdings expects to post a "significantly lower profit" for the second quarter of the year due to lower ore grades dragging down revenue, the gold miner announced on Wednesday before the market opened. The company expects to announce its results for the three months ended June 30 on or before Aug 14.

Tee Land

REAL estate developer Tee Land on Wednesday posted a net loss of S$2.4 million for its fourth quarter ended May 31, 2017, reversing from a net profit of S$4.7 million a year ago. This was due to higher cost of sales as well as losses from its share of results of associates, compared to profits in the year-ago quarter. Revenue rose 90.7 per cent to S$33.1 million.