Corporate digest

Ipco International

IPCO International interim CEO Goh Hin Calm voluntarily resigned from his post on Wednesday.

The move comes shortly after James Blythman, who became an Ipco shareholder after taking a placement last year, replaced Carlson Smith as chief financial officer on March 2. Goh, together with Ipco's former CEO Quah Su-Ling, face trial for charges related to the 2013 penny stock crash. Goh, 59, is out on bail of S$750,000, while Quah is out on bail of S$4 million.

Khong Guan

THE confectioner saw a net profit of S$792,000 for the six months to Jan 31, up from S$95,000 the previous year. This was thanks to higher foreign exchange gains and unrealised fair-value gains on short-term investments.

Group turnover was almost flat at S$28.78 million.

Vibrant Group

PROFITS at Vibrant Group swelled to S$2.3 million for the three months to Jan 31 - from S$262,000 previously - but most of it went to non-controlling interests. Net profit attributable to owners of the company sank by 88.6 per cent to S$146,000, amid unrealised foreign exchange loss and higher finance costs. Revenue jumped from S$53.5 million to S$177.3 million, thanks largely to contributions from a recently acquired coal producer, Blackgold International Holdings.

China Kangda Food Company

CHINA Kangda Food Company on Wednesday warned that it could record a loss in its earnings for the year ended Dec 31, 2017, on the back of seasonal factors and increase in costs.

Alliance Mineral Assets

LITHIUM production at the Bald Hill Lithium and Tantalum Mine in Western Australia, which it owns with Tawana Resources, has commenced, Alliance Mineral Assets said on Wednesday. Production began following the commissioning of a newly constructed dense media separation circuit.

The companies are still working on the completion of stage 2 of the lithium fines circuit design and the recommissioning of the tantalum circuits.