Boustead Singapore is linking up with two firms to buy a gas field in Indonesia.
Boustead, in league with One North Energy and Lamara Energy, will pay Australian-listed Triangle Energy (Global) US$3.9 million (S$5.6 million) to acquire the entire field in Aceh, Sumatra. Boustead will own 83 per cent of the consortium, the company said yesterday.
It added that the acquisition will provide the group with an excellent opportunity to expand its energy-related engineering division, which is the second-largest revenue contributor after the real estate solutions division.
The field, known as the Pase Production Sharing Contract, encompasses 922 sq km of explorable area.
The purchase price will be funded through internal resources.
Jason Marine Group
Reduced demand and margins owing to the plunging oil price sent Jason Marine Group into the red for the six months to Sept 30.
The group reported a net loss of $2.5 million, down from a net profit of $2 million in the same period last year. Turnover fell 43.5 per cent to $17.2 million. Loss per share was 2.37 cents, down from earnings per share of 1.91 cents last year. Net asset value per share was 24.6 cents as at Sept 30, down from 27.96 cents as at March 31.
Rising costs hit third-quarter earnings at BreadTalk Group.
Net profit for the three months to Sept 30 fell 60 per cent to $1.57 million compared with the same period last year, while revenue rose 4.7 per cent to $161.7 million.
Earnings per share was 0.56 cent, down from 1.39 cents a year earlier, while net asset value per share was 44.1 cents as at Sept 30, up from 41.1 cents at Dec 31 last year.
Higher expenses proved costly at Aspial Corporation for the third quarter.
The group made a net loss of $783,000 for the three months to Sept 30, down from a net profit of $7.2 million in the same period a year ago. Revenue rose 2 per cent to $133.5 million.
Earnings per share was 0.10 cent, down from 0.42 cent last year, while net asset value per share was 16.55 cents as at Sept 30, down from 17.56 cents as at Dec 31 last year.