Company Briefs: Khong Guan

Khong Guan

Khong Guan, formerly known as Khong Guan Flour Milling, has posted a half-year net profit of $95,000, reversing a net loss of $483,000 a year earlier. Revenue in the six months ended Jan 31 was $28.7 million, down 1.74 per cent from the same period a year ago, due to a fall in takings from wheat flour and other consumer products trading.

Its subsidiary, Sabah-based TGF, reported a fall in turnover, from $17.6 million in the first half last year to $16.2 million. Another, Penang-based SHC, also reported a fall in turnover from $10.2 million to $9.9 million. Earnings per share was 0.37 cents, from a loss per share of 1.87 cents a year ago.

Net asset value per share was $2.36 as at Jan 31, from $2.43 as at July 31 last year.

In anticipation of an improvement of the group's operations in Malaysia, the directors are optimistic that the results for the second half of the year will be better.

Sembcorp Industries

Sembcorp Industries' unit Sembcorp Utilities has subscribed to the entire rights issuance by Sembcorp Green Infra, including the 31.3 per cent share of the rights issuance that was not subscribed by its partner IDFC Private Equity Fund III.

The rights issue will fund the company's growth in the renewable sector in India.

The total investment of the entire rights issuance amounts to 1,250 million Indian rupees ($26.8 million) and is financed by internal funds.

Since IDFC did not participate in the rights issuance, Sembcorp Utilities' stake in Sembcorp Green Infra has increased from 68.7 per cent to 70.4 per cent.

ST Engineering

ST Engineering's aerospace arm, ST Aerospace, has injected its proportional share amounting to $3.57 million into the capital of its joint venture, ST Aerospace Aircraft Seats, as working capital.

ST Aerospace Aircraft Seats is 90 per cent owned by ST Aerospace. The other 10 per cent is owned by Tenryu Holdings.

The latest injection is part of ST Aerospace's planned investment and brings its total investments to $12.9 million.

Based in Singapore, ST Aerospace Aircraft Seats is responsible for the end-to-end design and manufacturing of a range of aircraft seating solutions.

A version of this article appeared in the print edition of The Straits Times on March 17, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe