Company Briefs: Croesus Retail Trust

Croesus Retail Trust

Croesus Retail Trust is acquiring Torius Property, a mall in Japan, for 8 billion yen (S$95 million). The price is at a 3.7 per cent discount to the valuation of 8.3 billion yen.

The mall comprises 36 single or double-storey buildings in a town 13 km from central Fukuoka City on Kyushu Island.

It will be the eighth property in Croesus Retail Trust's portfolio and marks its first foray into Kyushu Island.

The purchase will be funded by a combination of debt and equity financing.

Four billion yen will come from new Japanese five-year bonds, while a rights issue is expected to raise another $69.7 million.

The rights issue comprises 114,222,677 new units based on 22 rights units for every 100 existing units at an issue price of 61 cents per rights unit.


ISOTeam, which provides building maintenance and estate upgrading services, is proposing a one-for-one bonus issue.

This comes after it recorded a 34.1 per cent jump in net profit to $8.1 million for the year ended June 30.

The proposed bonus issue will increase the firm's issued share capital base and improve its share liquidity, said ISOTeam yesterday.

The bonus shares will not be entitled to the proposed final tax-exempt one-tier dividend of 1.15 cents per share announced on Aug 25.

Xpress Holdings

Print management services provider Xpress Holdings reversed its loss-making position to post a net profit of $314,000 for the year ended July 31. Last year, it recorded a full-year net loss of $146 million.

It made a loss of $170,000 in the fourth quarter, an improvement from a loss of $142 million in the same period last year.

Full-year revenue slipped 14.4 per cent to $12.54 million, while fourth-quarter turnover plunged 50 per cent to $1.51 million.

"The intense competition amidst a shrinking market has continued in the Singapore and China markets," said Xpress Holdings. "New technologies from the digital print segment replaced a significant portion of the demand in the traditional offset printing segment."

Loss per share for the full year improved from 5.87 cents to 0.009 cents while net asset value per share was 0.24 cents at July 31, compared with 0.01 cents a year earlier.

A version of this article appeared in the print edition of The Straits Times on September 30, 2015, with the headline 'CompanyBriefs'. Subscribe