Company Briefs: Challenger Technologies

Challenger Technologies

Challenger Technologies has confirmed the lease on its new flagship store at Bugis Junction.

Spanning almost 14,000 sq ft, the basement 1 location is set to open by the second quarter of next year. It will complement the existing Challenger store at level 3 in Bugis Junction, and add to the group's overall portfolio of almost 50 stores islandwide.

The IT products and services provider said that "despite the soft retail climate", it remains confident in the overall market.

The new flagship store will showcase major brands like Apple, Asus, Microsoft and Samsung.


Sunright

Semiconductor firm Sunright has declared a cash dividend of 0.2 cent for the year to July 31, when it posted a net profit of $1.4 million, a 56 per cent drop from the same period a year ago.

Chief executive Sam Lim said the core business remains strong but the distribution segment was weak, and has been scaled back.

He said: "Our strategy for growth is playing out well. We are focusing on a number of key opportunities in the expansion of hyper-scale data centres."

The firm is also seeing an increase in demand for its solutions, he added, in areas such as the automotive electronics market.

Sunright shares closed two cents up at 32 cents yesterday.


Keppel Corp

Keppel Land China is acquiring a newly completed retail development in Shanghai's Jiading district for a total consideration of 500 million yuan (S$102 million).

The acquisition is expected to be completed by the first quarter next year.

The development has a gross floor area of 40,927 sq m and a net lettable area of about 32,800 sq m. It is part of a mixed-use development comprising offices, shops and residential towers.

Keppel Land Retail Management will be appointed manager.

A version of this article appeared in the print edition of The Straits Times on September 30, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe