Company Briefs: Raffles Education Corp

Raffles Education Corp

Raffles Education Corp swung to a loss for the second quarter.

Net loss for the three months to Dec 31 amounted to $5.2 million compared to earnings of $431,000 in the same period last year.

Revenue fell by 2 per cent to $29.5 million.

Loss per share was 0.53 cent, reversing earnings of 0.04 cent previously.

Net asset value per share fell to 55.58 cents from 57.1 cents as at June 30, 2015.

The group recorded $14.3 million in currency translation loss arising from consolidation of foreign operations.

Fabchem China

Explosive maker Fabchem China plunged to a net loss of 16.8 million yuan (S$3.5 million), reversing from a profit of 2.8 million yuan in the third quarter.

Revenue for the three months to Dec 31 fell by 62.3 per cent to 37.4 million yuan, due mainly to the temporary stoppage of production ordered by the authorities as an overall safety precaution for all manufacturers in Shandong province following an explosion at an unrelated production plant in October 2015.

Loss per share amounted to 35.83 fen compared to earnings of 5.96 fen previously, while net asset value per share swelled to 841.27 fen, up from 172.74 fen as at March 31, 2015, following a share consolidation exercise.

Croesus Retail Trust

Japanese mall landlord Croesus Retail Trust reported a 5.3 per cent year-on-year increase in distribution per unit (DPU) to 1.79 Singapore cents for the second quarter ended Dec 31.

Net property income for the quarter grew 12.4 per cent to 1.37 billion yen (S$17.1 million).

Growth was driven by the acquisition of One's Mall and Torius, as well as savings in property operating expenses, said the trust's manager.

As a result, income available for distribution rose 11.3 per cent year-on-year to 973.32 million yen.

A version of this article appeared in the print edition of The Straits Times on February 12, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe