Company briefs: Stamford Tyres

Stamford Tyres posted a net profit of $1.47 million for the second quarter, up 60 per cent from the same period a year ago.
Stamford Tyres posted a net profit of $1.47 million for the second quarter, up 60 per cent from the same period a year ago.BT FILE PHOTO

Stamford Tyres

Stamford Tyres posted a net profit of $1.47 million for the second quarter, up 60 per cent from the same period a year ago, as expenses fell despite revenue remaining mostly flat.

Revenue in the three months to Oct 31 fell 0.58 per cent to $57.7 million, due to lower sales in South-east Asia.

Earnings per share was 0.62 cent, up from 0.39 cent a year ago.

Net asset value per share was 50.46 cents as at Oct 31, up from 49.88 cents as at April 30.


Frasers Centrepoint

Frasers Hospitality Group, a unit of Frasers Centrepoint, has launched North Park Place, a 105-unit luxury serviced residence.

The development is located within Rajpruek Golf Club in Bangkok, Thailand.

The residence is managed by Frasers Hospitality, and offers a selection of one- and two-bedroom apartments that are fully serviced.

With the addition of North Park Place, Frasers Hospitality's Thailand portfolio will stand at a total of four properties, with over 850 units, by 2019.


Civmec

Australia-based construction firm Civmec has been awarded two contracts totalling A$160 million (S$169.1 million) as part of the development of a processing facility for Rio Tinto's Amrun project near the town of Weipa, in North Queensland.

It involves the construction of a bauxite mine and related processing and port facilities in the Cape York Peninsula in northern Queensland.

The first contract is for the construction of the process facility as well as the fabrication, pre-cast manufacture and modular assembly of a combined total of 11,800 tonnes of Australian steel and pre-cast concrete.

Work on this contract will start immediately, and is due for completion at the end of 2018.

The second contract, which is smaller, was awarded by Sandvik for much of the construction of a stacker, reclaimer and shiploader for bauxite handling.

A version of this article appeared in the print edition of The Straits Times on December 13, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe