Company briefs: GKE Corporation

GKE Corporation

Warehousing and logistics firm GKE Corporation has awarded HPC Builders a contract to redevelop its property at 39, Benoi Road. The project is expected to be completed before August next year.

The work will expand the site's warehousing space by 200,000 sq ft to a total of 400,000 sq ft and add an open yard storage space of 130,000 sq ft.

This will in turn increase GKE's aggregate warehousing space to 1.2 million sq ft and open yard storage space to 328,000 sq ft, the firm said yesterday.

GKE chief executive Neo Cheow Hui said the project will provide cost-savings.

GKE shares closed down 0.2 cent, or 1.98 per cent, at 9.9 cents yesterday.

Soon Lian Holdings

Aluminium firm Soon Lian Holdings expects to report a half-year net loss, it announced yesterday.

"This was mainly attributable to a drop in sales revenue due to challenging market conditions and foreign exchange losses," it said, adding that the unaudited financial results will be released on or before Aug 14.

Shareholders and investors are advised to exercise caution in the meantime.

Fischer Tech

Plastic injection mould maker Fischer Tech has bought a property in Suzhou from Beyonics Technology for 56 million yuan (S$11.4 million).

The transaction will give Fischer Tech a site with a gross floor area of 41,194.97 sq m to consolidate the three plants of its two Suzhou subsidiaries.

"This will allow the Suzhou subsidiaries to expand and take on more projects as the property has a much bigger gross floor area than the combined current three manufacturing plants," the firm said.

Earnings after tax per share is expected to drop from 23.73 cents to 22.86 cents following the acquisition, Fischer Tech added.

Fischer Tech shares ended flat at $1.54 yesterday.

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A version of this article appeared in the print edition of The Straits Times on July 19, 2016, with the headline Company briefs: GKE Corporation. Subscribe