Company Briefs : Charisma Energy

Charisma Energy

Charisma Energy Services has said that it is unaware of any information not previously announced that could explain the Catalist-listed company's unusual share volume movements that prompted queries by the Singapore Exchange (SGX) yesterday.

During yesterday's early session, the Singapore bourse queried Charisma Energy as its shares tripled in value from 0.1 cent to 0.3 cent. As at 4.24 pm, about 56.9 million shares had changed hands in the usually thinly traded stock and the counter was trading at 0.4 Singapore cent, quadrupling on the day.

Its shares were last traded on New Year's Eve, when they closed at 0.1 cent.

The company had previously announced that it was exiting the Singapore electricity retail market on Dec 30.

Charisma Energy also said in its response to the SGX that it has conducted a financial review of its business and investments, and is holding discussions with lenders to refinance its liabilities and working on the divestment of its oil and gas assets.

It will issue further announcements as and when there are any material developments.


GSH Corp

Shares in the usually thinly traded GSH Corp were the most heavily traded stock yesterday, with turnover of 104.5 million shares. As at 3.35pm, the counter was down one cent, or 3 per cent, at 32 cents.

This comes after an off-market transaction on Thursday that saw Mr Sam Goi, the executive chairman of the South-east Asia-focused property developer, buy about 22.5 million shares at 31 cents apiece.

This increased his stake in the company from 50.01 per cent to 51.16 per cent.

In November, the mainboard-listed GSH Corp posted a net profit increase of 2 per cent to $2.1 million for the third quarter ended Sept 30. For the quarter, revenue rose 33.7 per cent to $28 million from the preceding year.

Its property business registered revenue of $5.5 million, from the progressive sales recognised from the group's Eaton Residences project in Kuala Lumpur, Malaysia.

Meanwhile, its hospitality segment posted an 8 per cent growth in revenue to $22.5 million for the third-quarter 2018 from $20.8 million for the third-quarter 2017 due mainly to improvement in the banqueting business at its two hotels in the Sutera Harbour Resort in Kota Kinabalu, Sabah.

A version of this article appeared in the print edition of The Straits Times on January 12, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe