AVARGA on Monday said it is exploring opportunities relating to its paper manufacturing business, which include the expansion and/or potential listing of said business.

MAINBOARD-LISTED Avarga received a query from the Singapore Exchange (SGX) after its shares jumped 33.1 per cent or 5.1 Singapore cents to 20.5 cents as at 11.42am on Monday.

FAR East Orchard Limited has acquired two freehold student accommodation properties in Leeds and Sheffield in the UK, with a total of 974 beds for £66.5 million (S$115.7 million).

AVARGA, the former UPP Holdings, has posted net profit of S$7.7 million for the third quarter ended Sept 30. This was 2 per cent lower than the S$7.8 million net profit in Q3 FY2018. 

AVARGA Ltd, which makes paper, swung into a net loss in the fourth quarter from a year ago, reflected in part higher forex losses.