Corporate digest

Pacific Radiance

THE offshore marine services firm announced on Wednesday that it has been granted a moratorium on legal actions taken by its creditors. The application, made on July 24, was to protect Pacific Radiance against any attempts by its creditors to enforce their claims while the company is in discussions with stakeholders on restructuring.

In granting the moratorium on Wednesday, the court said it does not preclude DBS Trustee Limited from enforcing its rights regarding S$100 million 4.30 per cent notes due 2018, for which it is trustee.

BreadTalk Group

BREADTALK Group's net profit rose 10.5 per cent to S$2.4 million for the second quarter ended June 30, from S$2.2 million in the year-ago period, it announced on Wednesday after the market closed.

Revenue was flat at S$148.8 million, compared to S$147.7 million in the year-ago period. Growth in the Food Atrium, restaurant and 4orth Food Concepts divisions made up for a 5.2 per cent decrease in revenue from the bakery business.

Earnings per share were 0.43 Singapore cent, compared to 0.39 Singapore cent for Q2 2017. BreadTalk has recommended a special dividend of 0.5 Singapore cent per share for FY2018, to be paid on Aug 21.

With the latest results, BreadTalk's first-half net profit was down 72.2 per cent from a year ago, at S$3.6 million. First-half revenue was flat at S$297.4 million, compared to S$295.4 million.

Kingboard Copper Foil

KINGBOARD Copper Foil Holdings saw net profit rise 50.4 per cent to HK$6.6 million (S$1.1 million) for the second quarter ended June 30, it announced after the market closed on Wednesday.

Revenue rose 15.13 per cent to HK$158.2 million from HK$137.4 million. Earnings per share were 0.92 HK cent, compared to 0.61 HK cent for the year-ago period.

Moya Holdings Asia

THE Indonesia-based water treatment company's net profit for the second quarter ended June 30 rose to S$7.2 million, more than six times the Q2 2017 net profit of S$1.2 million, due mainly to contribution from Acuatico Group, acquired in June 2017.

Revenue was up 130 per cent year-on-year to S$48.6 million from S$21.1 million.

The latest quarterly results took first-half net profit to S$16 million, up from S$2.5 million, and first-half revenue to S$93.6 million, up from S$33.3 million.

Earnings per share for the second quarter were 0.26 Singapore cent, compared to 0.04 Singapore cent for Q2 2017. The group said it will continue to consolidate private water treatment players in Indonesia via mergers and acquisitions.

Frasers Logistics & Ind Trust

FRASERS Logistics & Industrial Trust (FLT) posted a 2.9 per cent rise in distribution per unit (DPU) to 1.8 Singapore cents for the fiscal third quarter ended June 30, it announced on Wednesday night after the market closed.

The Reit's gross revenue for the quarter was up 22.6 per cent to A$49.3 million (S$49.7 million), from A$40.2 million for the year-ago period. Adjusted net property income was up 27.4 per cent to A$39.3 million from A$30.8 million previously.

Distributable income was A$30.7 million, up 22.4 per cent from A$25 million.

The quarter saw three leases executed in Australia, for a total gross lettable area of 118,279 sq m. As at June 30, FLT's portfolio remained at near full occupancy of 99.3 per cent.