Corporate digest

Nico Steel

METALS supplier Nico Steel posted a net loss of US$283,000 for its first half of fiscal 2020, versus a net profit of US$121,000 a year ago mainly due to uncertainties arising from the US-China trade war and fluctuations in commodity prices and currencies. For the six months ended Aug 31, 2019, loss per share was 0.006 US cent compared with an earnings per share of 0.005 US cent a year ago. Revenue dipped 11 per cent to US$7.1 million from US$8 million mainly due to lower demand for the group's proprietary Nico brand of metal alloys.These higher margin proprietary metal alloys are mainly for high-end electronics and mobile devices of global market leaders, Nico Steel said. No dividend was declared by the company, which is listed on the Watch List of the Singapore Exchange.

IPS Securex Holdings