Corporate digest
China Everbright Water
CHINA Everbright Water reported a 16 per cent rise in first-quarter net profit to HK$206.4 million (S$36 million), from HK$178.1 million for the year ago period. Revenue for the three months to end-March rose 26 per cent to HK$1.31 billion from HK$1.04 billion a year ago.
The increase was mainly attributable to the increase of HK$205.3 million in construction revenue, HK$49.5 million in operation revenue and HK$17.6 million in finance income.
Golden Energy and Resources
THE coal miner has posted a net profit of US$7.2 million in the first quarter, down 73 per cent from the same period a year earlier. The decline was due to lower average selling prices. Revenue for the three months ended March 31 rose 1.2 per cent to US$276.2 million.
Kingboard Copper Foil
TRADING will be suspended from 9.00am on Friday as the stock's free float has fallen below 10 per cent following the voluntary unconditional cash offer.
Resources Prima Group
GROUP subsidiary Energy Indonesia Resources (EIR) has received a letter of termination from Coalindo Adhi Nusantara terminating its coal hauling service agreement. The group is currently seeking legal advice on the matter, including the validity of the letter of termination and any possible recourse. The termination will have a material impact on the group's earnings for the current financial year as EIR is one of the main operating entities of the group.
