Amplefield swings to S$637,000 loss in FY17 after completing Philippine project

SINGAPORE - Catalist-listed Amplefield Ltd posted a net loss of S$637,000 in fiscal 2017, down from a net profit of S$3.32 million the year before, the property developer and facilities provider said late on Tuesday (Nov 28).

Loss per share was 0.18 Singapore cent for the year ended Sept 30, down from year-ago earnings of 0.96 Singapore cent per share. Net asset value per share slipped to 10.65 Singapore cents as at Sept 30, from 11.03 Singapore cents in a year ago. Amplefield shares closed at S$0.044 on Tuesday.

Revenue fell 86 per cent to S$1.26 million for the 12 months ended Sept 30, partly because year-ago sales benefitted from the completion of 16 units of semi-detached SME factory buildings development project in the Philippines, the company said.

Revenue for the current financial year was mainly from rental income derived from the group's investment properties in the Philippines and Pasir Gudang in Johor, the company added.

No dividends were declared.

The company said that it will continue to focus on its core businesses of property development, construction and facilities in the region, and is looking for suitable business projects to generate further revenue.

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