Company Briefs: OCBC Bank


OCBC Bank will be providing $87,000 to fund six ground-up proposals that address environmental sustainability issues here.

Launched last July, the #OCBCCares Fund for the Environment has committed to providing $100,000 annually to support projects that enhance Singapore's environmental landscape, "an area where private-sector sponsorship remains relatively thin", the bank said.

"The fact that we can fund six projects at an amount less than our fund commitment is positive indication that initiatives to protect our environment need not be expensive missions... We hope other organisations can also come aboard to support this cause," said OCBC head of corporate communications Koh Ching Ching.

The fund received 28 proposals for amounts ranging from $2,000 to $150,000. Half of them were about reducing waste or enhancing recycling efforts.

Nordic Group

Nordic Group posted a net profit of $4.35 million for the three months ended Dec 31, up 14 per cent as revenue rose 10 per cent to $20.75 million.

This was largely due to revenue from the group's maintenance services segment, boosted by contributions from Ensure Engineering - which Nordic acquired for about $17 million last year.

Earnings per share came in at 1.1 cent, up from one cent in the year-ago period.

A final dividend of 0.873 cent was recommended.

For the full year, net profit rose 20 per cent to $15.27 million on the back of a 12 per cent rise in revenue to $91.5 million.

CWG International

Real estate group CWG International is closer to a delisting.

Elidom Investment, a takeover vehicle jointly owned by Sinway Investment, H&H Wealth and Floriland Co, said late on Monday that it controlled some 641.6 million shares in CWG, or a 96.91 per cent stake.

Since the public float fell below 10 per cent on Feb 6, CWG is bound for a delisting.

Elidom Investment announced on Dec 28 last year that it was making a voluntary cash offer for CWG at 19.5 cents apiece.

The offer closes on March 19.

A version of this article appeared in the print edition of The Straits Times on March 07, 2018, with the headline 'Company Briefs'. Subscribe