Company Briefs: Linair Technologies

Linair Technologies

Linair Technologies' wholly owned unit, Air System Technology, has agreed to acquire 100 per cent of Active Building Technologies.

It is paying $1.9 million in cash. The proposed acquisition will be funded by existing funds and bank borrowings of the group, said Linair.

The firm added that the proposed acquisition "is aligned with the group's plans to further expand into complementary business areas within the civil engineering and mechanical and engineering industry".

According to illustrations with the company's 2014 financial results, net tangible asset per share would have fallen from 3.35 cents pre-acquisition to 2.93 cents post-acquisition. However, earnings per share would have risen from a loss per share of 0.12 cent before the acquisition to earnings per share of 0.002 cent post-acquisition.

Religare Health Trust

International Hospital (IHL), a wholly owned subsidiary of Religare Health Trust, has won a tender for a freehold piece of land designated for hospital use in Punjab, India.

IHL bid 730 million rupees (S$15.7 million) for the land, or about 2.2 per cent of the net asset value of Religare Health Trust (RHT).

The land, about 2ha, adjoins the Mohali Clinical Establishment owned by RHT.

The acquisition and development of the land will be funded wholly through external borrowings. The acquisition is not expected to have any material impact on the distribution per unit and net asset value of RHT for the financial year ending March 31 next year.

Sin Ghee Huat Corporation

The economy's slowdown due to falling crude oil prices hit fourth-quarter and full-year earnings at stainless steel distributor Sin Ghee Huat.

Net profit fell 61 per cent to $570,000 for the quarter, on the back of a 19 per cent fall in revenue to $14.87 million.

The revenue fall reflects weaker demand for stainless steel products amid the economic slowdown, the company said.

For the year, net profit was 4 per cent lower at $3.54 million while revenue fell 7 per cent to $58.95 million. Earnings per share was 0.26 cent for the fourth quarter, down from 0.65 cent a year earlier.

Net asset value was 40.1 cents at June 30, up from 39.6 cents a year back.

A final cash dividend of 1.5 cents a share, same as a year earlier, has been proposed.

A version of this article appeared in the print edition of The Straits Times on August 20, 2015, with the headline 'CompanyBriefs'. Print Edition | Subscribe