Corporate digest

UOL Group

THE independent financial adviser (IFA) for UOL Group has advised shareholders to vote to waive their rights to receiving a mandatory general offer from Haw Par Corporation. In a circular dated Aug 8, the IFA, Deloitte & Touche Corporate Finance, said that the whitewash resolution is "fair and reasonable" and that the "proposed transaction is on normal commercial terms and not prejudicial to the interests of the UOL Group and its minority shareholders".

Neo Group

THE mainboard-listed caterer has reported a 74 per cent narrowing of net loss to S$0.65 million for the first quarter ended June 30, from a net loss of S$2.5 million a year ago. Revenue grew 27.3 per cent to S$40.6 million from S$31.9 million in the previous year. Loss per share was 0.45 Singapore cent, compared to last year's 1.72 cents.

QAF Ltd

MULTI-INDUSTRY food company QAF has reported a 72 per cent plunge in net profit attributable to shareholders for its fiscal second quarter ended June 30, 2017. Its net profit fell to S$8.1 million, from S$28.8 million the year before. QAF's revenue improved slightly to S$209.8 million in the second quarter, from S$208.4 million the year before.

Boustead Projects

BOUSTEAD Projects posted a 5 per cent drop in quarterly net profit to S$5.8 million from S$6.1 million a year ago. The industrial real estate solutions provider reported a 25 per cent fall in revenue in the first quarter period to S$45.7 million from S$61 million. Earnings per share for the three months to June came in lower at 1.8 Singapore cents versus 1.9 Singapore cents in the corresponding quarter a year ago.

Bonvests Holdings

BONVESTS Holdings' Q2 net profit rose 17.1 per cent to S$7.97 million, or 1.982 Singapore cents per share. Revenue shrank by 2.7 per cent to S$49.5 million.

Fraser and Neave

FRASER & Neave's (F&N) third-quarter net profit jumped to S$1.26 billion, or 87.0 Singapore cents per share, after an exceptional gain of S$1.20 billion that resulted from the group's enlarged control of Vietnam Dairy Products Joint Stock Co (Vinamilk). Excluding exceptional items, net profit for the three months ended June 30 would have risen by 59.9 per cent to S$60.7 million, or 4.2 Singapore cents per share, the beverage group announced on Tuesday after the market closed. Revenue slipped 8.6 per cent to S$483.1 million in the third quarter.

Hong Leong Finance

HONG Leong Finance's profit for the second quarter ended 30 June jumped around 89 per cent year on year to S$20.87 million from the corresponding quarter last year.