Sysma Holdings' net profit surged for the six months to Jan 31, rising from $499,000 to $4.78 million, despite revenue falling 40.4 per cent to $40.5 million.
Earnings per share grew to 1.83 cents as at Jan 31, up from 0.19 cent a year earlier.
Net asset value per share was 18.18 cents as at Jan 31, up from 16.35 cents a year earlier.
It attributed the growth to reclassification of improvements in its property development business. This included the sale of three cluster houses as well as RC Suites and 8M Residences condominiums.
Professional services firm Axcelasia will acquire Malaysia-based business and corporate governance consultancy firm Audex Governance for RM2.88 million (S$917,550).
It will be the company's first acquisition since it listed on the Singapore Exchange Catalist board in November 2015.
Headquartered in Kuala Lumpur, Audex has 30 qualified risk consultants and internal auditors who specialise in corporate governance and risk management.
Axcelasia said the transaction will allow it to tap Audex's customer base and facilitate the cross-selling of its services.
The deal will be funded from internal resources, taking into account Audex's existing contracts of RM2.13 million and unaudited net tangible assets of RM0.75 million as at Dec 31.
Professional services company Zico Holdings said its subsidiary, Zico Asset Management, has commenced business as a registered fund-management company.
Zico Asset Management is a private wealth manager for high-net-worth and family office clients that is focused on the Asean region.
It assists clients in inter-generational wealth transfers, wealth planning, asset protection and portfolio optimisation.
Mr Lim Khoon Siong will helm the company as chief executive.
Zico Holdings operates in three key business areas - advisory and transactional service, management and support services, and licensing services.