Company Briefs: Sembcorp Marine

Sembcorp Marine

Marine and offshore engineering group Sembcorp Marine returned to the black for the third quarter with net profit of $2.7 million.

This was a stark turnaround from the $21.8 million loss in the same period a year ago, although revenue came in 64.3 per cent lower at $316.9 million for the three months to Sept 30.

The firm reaped a $3.4 million tax credit, as well as a lower share of losses from associates and joint ventures.

It translated to earnings per share of 0.13 cent, from a loss per share of 1.04 cents before.

Net asset value was 120.60 cents a share, down from 122.62 cents as at Dec 31 last year.

ComfortDelGro

Transport operator ComfortDelGro plans to buy the business assets of an Australian taxi manager for A$5.3 million (S$5.5 million), it announced yesterday.

Its ComfortDelGro Swan unit has entered into an agreement with Perth's Metro WA Taxi Management, which has a fleet of 170 taxis.

The move will let ComfortDelGro's Australia subsidiary - now a dispatch service provider - expand into fleet management as well, the company said.

Citic Envirotech

China-based Citic Envirotech has clinched a 4.6 billion yuan (S$944.6 million) project in the capital city of north-western Gansu province, it said yesterday.

The project, which will start at once and is expected to wrap up within two years, involves upgrading and expanding Lanzhou city's municipal wastewater treatment plant.

It will also tackle land cleanup and develop an ecological system for a land parcel along the north bank of the Yellow River.

Standard Chartered

Standard Chartered's Singapore chief executive has been promoted to regional head as part of a shake-up in its management team, the lender said yesterday.

Ms Judy Hsu will take over Asean and South Asia operations late next year and joins the bank's management with immediate effect.

She replaces Ms Anna Marrs, who will remain chief of commercial and private banking and wealth management.

A version of this article appeared in the print edition of The Straits Times on November 01, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe