Corporate digest

Federal International (2000)

THE oil and gas procurement specialist warned of a Q2 net loss due to lower sales from its trading business.The group is finalising its unaudited results for the second quarter ended June 30, and will provide further details on or before Aug 14.

Jason Holdings

THE maker of wood floorings posted a smaller net loss for fiscal 2017. Net loss for its full-year ended Dec 31, 2017 stood at S$121,000, compared to a restated net loss of S$4.92 million. The year-ago period included a S$3.17 million loss on deconsolidation of a subsidiary.

Ryobi Kiso

RYOBI Kiso has applied to the High Court to commence a court-supervised reorganisation process, with the intention of proposing a scheme of arrangement to reorganise its liabilities. It is seeking a moratorium against enforcement actions and legal proceedings by creditors.

TEE International

MAINBOARD-listed TEE International landed S$65 million worth of engineering contracts from February to July this year, boosting its outstanding order book to S$280 million.

Subsidiary PBT Engineering won an assets enhancement initiative (AEI) contract for Ang Mo Kio Hub from Mercatus Co-operative, slated for completion in November. Subsidiary Trans Equatorial Engineering was awarded two contracts by Changi Airport Group. Trans also won a contract for AEI works for the existing Income @ Raffles Building.

Soilbuild Construction Group

THE group saw net profit fall 67 per cent to S$214,000 for the second quarter ended June 30, down from S$649,000 in the year-ago period, despite revenue rising 2.6 per cent to S$49.6 million.

Koh Brothers Eco Engineering

THE Catalist-listed engineering solutions provider saw net profit rise 137 per cent to S$1.9 million for the second quarter ended June 30, from S$0.8 million in the year-ago period. This was on the back of a 33 per cent rise in revenue to S$66.2 million.

Ipco International

ON July 17, a complaint and summons were filed in the US against Ipco International and its subsidiary Capri Investments. The plaintiffs, Westridge Development LLC and one G Patrick Healy, are claiming ownership of approximately 15 acres of real property in Pierce County, Washington, owned by Capri.

Ipco and Capri believe the claim is without merit. Ipco said it has engaged lawyers and will take such steps as necessary to respond to the claim and provide updates as and when appropriate. It advised caution when dealing in its shares.