Company Briefs : Acromec

Acromec

Acromec has secured a $6.8 million contract to outfit two clinical laboratories, raising its order book to about $27 million, it said in a Singapore Exchange filing yesterday.

The contract, from a private laboratory service provider in Singapore, is for facilities that require sophisticated diagnostic services.

The new contract is expected to contribute positively to Acromec's earnings per share and net tangible assets per share for the current financial year ending Sept 30.

The client, which belongs to one of Asia's largest healthcare groups, will commission what Mr Lim Say Chin, executive chairman and managing director of Acromec, calls a "rush job".

Work on the project has been scheduled for completion by mid-June.

"However, we are confident in our execution and delivery, given our know-how, strong support from our suppliers and contractors, and our established track record," Mr Lim added.

This is Acromec's second contract win in less than a month. It clinched a $7.6 million mechanical and electrical works contract for the construction of a poultry farm for Chew's Agriculture on March 19.

Acromec shares closed 32.5 per cent, or $0.026, higher yesterday to reach $0.106.


QSR Brands (M) Holdings

HONG KONG • QSR Brands (M) Holdings, which runs KFC and Pizza Hut outlets in South-east Asia, is planning to revive an initial public offering (IPO) as soon as the fourth quarter of this year, according to anonymous sources.

The company on Wednesday shelved the sale of its Malaysia shares after talks with its bankers, but did not give a reason.

Discussions of the IPO revival are still in the early stages, and QSR Brands' earnings in the next two quarters will play a key role in deciding the timing, said the sources.

The company had planned to raise as much as US$600 million (S$812 million) in the share sale, according to terms obtained by Bloomberg.

QSR Brands operates more than 820 KFC restaurants in Malaysia, Singapore, Brunei, and Cambodia, as well as more than 470 Pizza Hut outlets in Malaysia and Singapore.

The company also breeds chickens and produces sauces, branding itself as a "farm to fork" food operator.

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A version of this article appeared in the print edition of The Straits Times on April 13, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe