Company briefs: Cheung Woh Technologies

Cheung Woh Technologies

Hard-disk drive manufacturer Cheung Woh Technologies posted a comprehensive loss of $2.3 million for the first quarter, compared with a net profit of $1.3 million for the same period a year earlier.

Revenue dropped by 21.2 per cent to $16.6 million for the three months to May 31, owing to a drop in demand for air combs, among other things.

This was partially offset by higher takings in the precision metal-stamping components segment, lifted by sales to a new customer.

Quarterly loss per share was half a cent, against earnings per share of 1.05 cents a year ago. Net asset value per share was 35.21 cents as at May 31.

Cosco Shipping International (Singapore)

Cosco Shipping International (Singapore) has extended the delivery deferral period of a rig until June 30, 2020.

A refund of US$25.3 million (S$35.1 million) plus interest must be made by Cosco (Qidong) Offshore for the extension to take place.

During the extended period, Cosco said, the rig owner may continue to market the vessel for a drilling contract.

Cosco (Qidong) has the option to terminate the deferral period on July 1 next year or July 1, 2019. If it does so, it must refund a remaining balance of US$1 million plus interest to the rig owner.

GK Goh Holdings

GK Goh Holdings unit Allium Healthcare has announced the ground-breaking of a four-storey nursing home in Venus Drive.

The 129-bed residential facility will be ready in the first quarter of 2019, and is said to be the first nursing home here that will consist entirely of single and double en-suite rooms.

GK Goh chairman Goh Geok Khim said: "Together with our investment in Opal, one of Australia's leading residential aged care companies operating over 6,200 beds across 72 homes, aged care is now the largest operating business cluster within the GK Goh Group."

A version of this article appeared in the print edition of The Straits Times on July 11, 2017, with the headline 'Company briefs'. Print Edition | Subscribe