Company briefs: Courts Asia

Courts Asia

Electrical, IT and furniture retailer Courts Asia will issue $75 million in bonds under its $500 million multi-currency debt issuance programme.

The bonds have a coupon rate of 5.75 per cent per year and a tenor of three years.

Settlement date is March 15.

TTJ Holdings

Construction services firm TTJ Holdings posted a 40 per cent rise in net profit to $5.4 million for the second quarter.

This was driven by contributions from its structured steel business. Revenue rose 4 per cent to $28.6 million for the three months to Jan 31.

Earnings per share was 1.55 cents for the period, up from 1.10 cents a year earlier, while net asset value was 31.66 cents at Jan 31, down from 36.82 cents at July 31 last year .

The group's order book is at $106 million, comprising projects it expects to substantially complete between the 2016 and 2017 financial years.

No dividend was declared for the period.

KLW Holdings

KLWHoldings has agreed to acquire two units at CT Hub totalling 252 square metres of floor area for $2.28 million.

Both units on the seventh floor come with adjoining roof terrace and toilet.

CT Hub is an 11-storey business space building located at the southern junction of Kallang Avenue and Kallang Bahru, off Lavender Street and some five kilometres from the city centre.

The units will act as an office, showroom, display and base for project operations of KLW as its current office lease will cease in July.

They will also provide cost savings as the group's project operations may then be housed together under one roof.

A version of this article appeared in the print edition of The Straits Times on March 08, 2016, with the headline 'Company briefs: Courts Asia'. Print Edition | Subscribe