Oxley subsidiary, Oxley MK Holdings Vietnam Company, has subscribed for 49 per cent of the charter capital in MK Thao Dien Company for 19.6 billion Vietnamese dong (S$1.14 million).
MK Development Management Company holds the remaining 51 per cent.
MK Thao Dien was incorporated in Vietnam in August last year, and has been dormant since. The plan is for the company to "undertake property development projects in Ho Chi Minh City", Oxley said. Its investment will be funded by internal resources.
Environmental solutions firm ecoWise Holdings narrowed its net loss to $504,000 in its second quarter ended April 30, from a net loss of $1.3 million in the previous year.
For the half-year ended April 30, the firm's net loss narrowed to $1.4 million, from $2.3 million in the previous year.
Revenue for the quarter grew 32.3 per cent to $14.9 million from $11.3 million the year before, due to higher revenue from the group's resource recovery segment - specifically, increased revenue from the sale of rubber compounds, retreaded tyres, washed copper slag, and an increase in woodchips supply to customers and other materials.
For the half-year, revenue was up 26.6 per cent at $29.5 million.
Loss per share for the second quarter shrank to 0.058 cent, from 0.149 cent in the previous year. Net asset value per share slipped to 4.36 cents as at April 30, from 4.43 cents as at Oct 31.
Advance SCT will be taken off the Singapore Exchange (SGX) watch list from June 18.
The supplier of copper-related products was put on the watch list in March 2015 for posting pre-tax losses for the three most recently completed consecutive financial years and having a six-month average daily market capitalisation of below $40 million.
On March 2, it applied for an exit, based on its audited full-year consolidated results for the financial year ended Dec 31, 2017. Advance SCT said in a regulatory filing yesterday that it had received in-principle approval from SGX.
The firm posted a net profit of $1.5 million for FY2017, compared to a loss of $7.7 million for FY2016. In FY2017, it also achieved a net profit of $0.67 million in recurring operations, which it said "signals that it has recovered from the tumultuous years and is on the path of growth".