Corporate digest

Bonvests Holdings

A UNIT of Bonvests unit has acquired 29 units of residential town houses at 725 Wellington Street in Perth, Australia for A$33.5 million (S$34.1 million)

The total land area is about 5,160 square metres and the group intends to redevelop the properties into a mixed-use development.

The acquisition will be financed by internal funds and bank borrowings.

CSE Global

CSE Global's new 24.84 per cent shareholder, Malaysia-listed Serba Dinamik Holdings, has requested two board seats.

The request is being reviewed by CSE's nominating committee, which will announce the appointments after the due process is completed.

Soilbuild Business Space Reit

SOILBUILD Business Space Reit (Soilbuild Reit) posted a drop in distribution per unit (DPU) of 11 per cent to 1.324 Singapore cents, from 1.489 Singapore cents for its first quarter ended March 31.

Gross revenue dropped 11.5 per cent to S$19.4 million from the previous year. Net property income fell 11.6 per cent to S$17.0 million from the previous year.

Q1 income available for distribution dropped 10.4 per cent to S$14.0 million from the year-ago period.

Genting Hong Kong

SHARES of Genting Hong Kong will be delisted from the Singapore Exchange with effect from 9am on April 17.

The cruise operator announced its delisting last year, and still retains its primary listing in Hong Kong.

Japan Foods

DUE to the longer than expected time required to fulfil certain conditions with Indonesia's Arena Gourmet and Menya Musashi Indonesia in relation to the operation of Japanese ramen restaurants in Indonesia, all parties have agreed to extend the long stop date on the joint venture to May 14.

The Trendlines Group

THE Trendlines Group said that its portfolio company, BioFishency, has completed sales of about US$800,000 so far this year, up 44 per cent over all of 2017.

BioFishency, which sells warm water aquaculture systems, projects at least another US$1 million in sales by the end of this year, owing to overseas growth.

BioFishency also plans to license a new technology to develop a new product line for cold water applications.

Qian Hu Corp

QIAN HU Corp has posted a 2.8 per cent dip in net profit in the first quarter to S$35,000. Revenue in the three months to March 31 was $21.6 million, flat from the same period a year ago.

Although Qian Hu saw a positive contribution from its new edible fish business in the Hainan Province, this was offset by keen competition faced by its plastics business, it said.

Earnings per share was 0.03 Singapore cent per share, unchanged from the same period a year earlier. Net asset value per share was 45.14 Singapore cents as at March 31, from 45.48 Singapore cents as at Dec 31 last year.

Qian Hu said it will continue to explore all options to seek an exit from the Singapore Exchange's minimum trading price watch-list within 36 months from June 5, 2017.