Company Briefs: k1 Ventures Limited

k1 Ventures Limited

Investment firm k1 Ventures, which counts Keppel as a major shareholder, recorded net profit of $6.6 million for the second quarter, a sharp turnaround from the $8.5 million loss in for the same period a year earlier.

This was in spite of revenue falling 74.3 per cent over the same quarter last year to $3.5 million.

However, profit before tax for the six months to Dec 31 was $19.1 million, down from $80.8 million from a year earlier.

The firm attributed this to lower income from Knowledge Universe Holdings, which has interests in education-related ventures.

Earnings per share for the quarter came in at 1.53 cents, compared with a loss of 1.96 cents for the same period a year earlier. Net asset value as at Dec 31 was 44 cents, down from 48 cents as at June 30 last year.


Loyz Energy

Upstream energy group Loyz Energy returned to the black in the second quarter.

Earnings came in at US$922,000 (S$1.3 million), compared with a loss of US$631,000 for the same period a year earlier.

Revenue grew by 8 per cent to hit US$2.6 million for the three months to Dec 31, although turnover for the half year was US$5 million, down 22 per cent compared with the same period a year earlier.

Earnings per share came to 0.09 US cent for the quarter, compared with a loss of 0.08 US cent previously, while net asset value as at Dec 31 was 2.80 US cents, up from 2.73 US cents as at June 30.

The firm attributed higher revenue to its Thai oil fields and the recent increase in oil prices.


GLP

Warehouse developer Global Logistic Properties (GLP) has acquired two facilities in Chicago for US$33 million (S$46.6 million), it said yesterday.

One is a 29,000 sq m distribution building near Midway Airport; the other is a 13,000 sq m facility in Western Cook County.

GLP's United States portfolio comprises 16 million sq m of facilities, including about one million sq m in Chicago.

A version of this article appeared in the print edition of The Straits Times on February 02, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe