Company Briefs: Global Yellow Pages

A river taxi passing by the Merlion.
A river taxi passing by the Merlion. PHOTO: ST FILE

Global Yellow Pages

Mainboard-listed Global Yellow Pages and its unit Singapore River Explorer are being sued by Leisure Empire in the High Court.

Leisure Empire has lodged a writ claiming $150,000 in damages for the termination of a service agreement and $50,000 a month in damages. It is also seeking damages for loss of profits to be assessed.

Global Yellow Pages said it intends to rigorously defend its position and has referred the matter to its legal counsel.

It said the claim is not expected to have any material impact on the group's performance for the financial year ending June 30 next year.

Stats ChipPac

Semiconductor tester Stats ChipPac said yesterday it expects revenue for the three months ended June 28 to be about 15 per cent to 17 per cent lower than that for the same period a year earlier. It said the decline reflects generally sluggish demand in the semiconductor industry.

The firm highlighted weaker segments, including sales of smartphones in emerging markets, and weaker demand from the personal computer segment.

It noted that this performance update is subject to a number of risks that could change the information given in the update.

Zhongxin Fruit and Juice

Juice-maker Zhongxin Fruit and Juice, formerly known as New Lakeside Holdings, said some land owned by its unit has been compulsorily acquired by Fengxian county.

The plan is to create a garden belt around the Baiyi river in the area.

This comes under a compulsory acquisition agreement between the authorities of Fengxian and the unit known as Xuzhou Zhongxin Fruit & Juice Company.

The authorities will compensate Xuzhou Zhongxin Fruit & Juice Company about 3.16 million yuan (S$690,000) in cash.

The land involved is 6.7 per cent of Xuzhou Zhongxin's total land area of 152,040 sq m.

The firm noted that the book value of the land strip was about 570,000 yuan as at June 30 last year.

This made up 0.87 per cent of the group's total net asset value of 65.39 million yuan.

On Tuesday, the Fengxian authorities gave Xuzhou Zhongxin 500,000 yuan - the first partial payment of the compensation.

A version of this article appeared in the print edition of The Straits Times on July 09, 2015, with the headline 'CompanyBriefs'. Print Edition | Subscribe