Company briefs: Facebook
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Facebook said on Monday that revenue rose 35 per cent to US$29 billion (S$39.1 billion) in the three months ending in September, compared with the same period last year, while profits rose 17 per cent to US$9.2 billion. Some 3.6 billion people now use one of Facebook's apps every month, up 12 per cent from a year earlier. In recent weeks, though, Facebook has faced intensifying political pressure.
Ms Frances Haugen, a former employee turned whistle-blower, has shared thousands of pages of internal documents and has said that the company chose "profits over people".
BLOOMBERG
Koh Brothers Eco Engineering
Koh Brothers Eco Engineering announced yesterday that it has secured a $200.7 million contract from national water agency PUB to carry out mechanical, electrical and instrumentation control and automation works for the first of two industrial liquids modules at Tuas Water Reclamation Plant. After securing the project, the sustainable engineering solutions provider will have an order book of $783 million, up from $582.3 million as at June 30. When completed, the plant will be the world's largest industrial used-water treatment facility using ceramic membrane technology.
THE BUSINESS TIMES
Crown Resorts
Crown Resorts has been given two years to save its flagship Melbourne casino by addressing a litany of wrongdoing after being found unfit to hold a gaming licence. A so-called special manager has been appointed to supervise the company, with the power to veto board decisions.
Crown shares jumped in Sydney trading after the company avoided the worst possible outcome from the Royal Commission - an immediate loss of the Melbourne licence - which would have put the company's future in doubt.
BLOOMBERG