PropNex

Real estate agency PropNex yesterday posted a first-quarter net profit of $14.8 million, nearly double the $7.6 million the year before.

This came amid higher revenue due to an increase in commission income from agency services and project marketing services.

The results translate to earnings per share (EPS) of 4.01 cents for the three months ended March 31, against an EPS of 2.05 cents the year before.

THE BUSINESS TIMES

Axiata

Malaysian telecommunications firm Axiata Group yesterday said Japanese peer SoftBank Corp will invest US$60 million (S$80 million) in its digital analytics and artificial intelligence arm ADA.

SoftBank will own 23 per cent of ADA via new shares, with its investment valuing the unit at US$260 million, Axiata said in a statement.

ADA will use the proceeds to expand in South Asia and South-east Asia, while SoftBank will establish the unit as its core digital and data marketing partner in Asia.

REUTERS

Keppel O&M

Keppel Offshore & Marine has secured a contract worth about US$2.3 billion through its wholly owned subsidiary Keppel Shipyard. The contract was awarded by Brazil's national oil company, Petroleo Brasileiro, on the basis of an international tender for the delivery of P-78, a floating production storage and offloading vessel (FPSO).

Slated for delivery in late 2024, the FPSO will be deployed in Brazil's deepwater Buzios field. It will rank among the largest in the global operating fleet of FPSOs, said Keppel Corp on Monday.

THE BUSINESS TIMES