Company Briefs: 800 Super Holdings

800 Super Holdings

Environmental services provider 800 Super Holdings saw its net profit jump by 69.4 per cent to $4.29 million on stronger demand for its waste management services.

Turnover grew 3.5 per cent to $39.8 million for the three months which ended on June 30, compared with the same period last year, while workers' salaries grew 2.1 per cent to $20. 6 million.

Earnings per share grew to 2.39 cents a share while net asset value stood at 39.4 cents as of June 30.

The company listed on the Catalist declared a dividend of 2.5 cents a share. The firm's share price has been steadily rising over the past two months but closed down 0.5 cent to 72 cents yesterday.

The company has started to develop the biomass waste to energy plant located at Tuas South. The project costs about $31 million and should be complete by the end of next year.

Chiwayland International

Property developer Chiwayland International has successfully bid for the land use rights of a parcel of land located in Wuhan, the capital of Hubei province, China.

The company bid for the parcel of land - about 83,500 sq m - to build its land bank, which will help the firm scale its presence in China. Chiwayland did not declare how much it paid for it.

Karin Technology

Electronic and industrial components firm Karin Technology suffered a huge hit to its profits as stiff competition for consumer electronic products ate away at the margins.

The firm's profits dived 78.3 per cent to HK$13.7 million (S$2.39 million) for the financial year ended June 30, compared with the previous year.

Revenue sank 31 per cent to HK$2.23 billion while earnings per share also fell to 6.4 HK cents, down from 29.4 HK cents a year earlier. Net asset value stood at 315.9 HK cents.

"The company was affected mainly by a fall in revenue contribution from its consumer electronics products segment, which felt the impact of fierce competition. Moreover, the increase in the number of Apple flagship stores in Hong Kong negatively impacted our retail stores' business during the year."

The firm's share price was unchanged at 27 cents yesterday.

A version of this article appeared in the print edition of The Straits Times on August 26, 2016, with the headline 'Company Briefs'. Subscribe