Company Briefs: Noble Group

Noble Group

Singapore-listed commodity trader Noble Group yesterday said its chairman Richard Elman has stepped down from two board committees.

Mr Elman has stepped down as a member of the audit committee and the nominating committee, Noble said in a statement.

Two independent directors have been appointed to head two other committees that oversee remuneration and options, as well as corporate social responsibility and government relations.

T T J Holdings

Steel specialist T T J Holdings has declared a dividend of 8 cents per share for the financial year which ended on July 31.

This is a fourfold increase from last year, when the firm had declared a dividend of 1.4 cents per share.

This works out to a 24.2 per cent dividend yield, based on yesterday's closing share price of 33.5 cents.

The higher dividend came on the back of lower revenues and profits.

The group's revenue dipped 30 per cent to $94.1 million, while net profit declined 29 per cent to $15.5 million. Earnings per share was 4.45 cents per share, down from 6.23 cents a share a year ago.

Said T T J's chairman and managing director Teo Hock Chwee: "While it has been a rough year for T T J in the light of the continuing uncertainties in the global economy, we remain confident of the long-term prospects and growth potential of our business. As testament to our confidence and the underlying strength of the group, we are proposing a dividend payout of 8 cents per share for financial year 2015."

The group ended the year with $84.1 million in cash and equivalents.

Sysma Holdings

Construction firm Sysma Holdings saw a 143.3 per cent jump in revenue to $98.4 million for the year ended July 31.

It also managed to turn in a profit of $2.9 million, a reversal from the net loss of $16.5 million a year ago.

Earnings per share rose to 1.01 cents, up from the loss of 4.94 cents last year. The group's net asset value stood at 16.14 cents per share as at July 31, up from 15.13 cents last year.

The company also declared a cash dividend of 0.11 cent per share. Sysma Holdings' shares were unchanged at 20 cents yesterday.

A version of this article appeared in the print edition of The Straits Times on September 24, 2015, with the headline 'Company Briefs: Noble Group'. Print Edition | Subscribe