Company Briefs: Joyas International Holdings

Joyas International Holdings

Joyas International Holdings has decided to scale down its jewellery products segment in view of the losses incurred by the business, continued difficult operating environment for the industry and limited financial resources that the group is able to allocate to each of its business segments.

The scaling down may incur restructuring costs or involve disposing of its inventories at a loss.

Moving forward, Joyas expects the revenue and costs of the jewellery products business to be reduced and it will focus its resources and efforts on its metal gifts business, financing business and its nickel ore trading business.


TPV Technology

TPV Technology reported a third-quarter net profit of US$18.6 million (S$26.4 million), reversing from a loss of US$26.3 million in the same period last year.

This was mainly due to a net other gain of US$6 million, compared to a loss of US$45.2 million previously.

Revenue for the three months to Sept 30 fell by 11.7 per cent to US$2.47 billion.

Earnings per share amounted to 0.79 US cent against a loss of 1.12 US cents in the year-ago period.

The maker and distributor of TV and PC monitors attributed the improved result to a more efficient operating structure and an 18 per cent year-on-year reduction in operating expenses.


BreadTalk

BreadTalk, the franchise operator of Din Tai Fung restaurants in Singapore, will be taking the famous Chinese franchise, with its signature xiao long bao, to Britain as part of a joint venture.

The first restaurant in Britain is expected to open in London next year.

The restaurants in Britain will be run by a joint venture between BreadTalk, Din Tai Fung franchise owner Fairy Rise Development, Din Tai Fung Taiwan, a British partner and a Taiwanese individual.

A version of this article appeared in the print edition of The Straits Times on November 18, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe