Company Briefs: Cheung Woh Technologies

Cheung Woh Technologies

Cheung Woh Technologies plunged into a loss for the second quarter. It reported a net loss of $5.9 million, reversing from earnings of $1.9 million for the same period last year.

Revenue for the three months to Aug 31 fell by 35.4 per cent to $14 million, mainly due to a drop in customers' demand for air-combs, used in hard disk drives, and the transition of phasing in the manufacturing of baseplates.

Cost of sales increased by 2.4 per cent, mainly due to inventory write-off, and higher materials, labour and overhead costs. The inventory write-off was for baseplates that were damaged by a heavy rainstorm caused by Typhoon Hato as well as baseplates that failed to meet customers' tightened specifications.

Loss per share amounted to 1.94 cents against earnings of 0.63 cent previously, while net asset value per share eased to 33.23 cents compared to 35.97 cents as at Feb 28.

Boustead Projects

Boustead Projects said its unit Boustead Projects E&C has recently secured $56 million of contracts in Singapore.

The first contract, valued at $27 million, involves designing and building an industrial waste-management complex. Two other contracts totalling $29 million were secured from repeat end-user clients for projects involving additions & alterations and fitouts.

Willas-Array Electronics (Holdings)

Willas-Array Electronics (Holdings) said it expects to post a significant increase in its net profit for the six months ended Sept 30.

This was primarily due to an increase in group revenue as a result of a rise in demand for energy-saving and automotive applications, improvement in gross profit margin, and exchange gain arising from the appreciation of the yuan.

A version of this article appeared in the print edition of The Straits Times on October 10, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe