Company briefs: Razer

Gaming hardware maker Razer posted a US$31.3 million (S$42.4 million) net profit for the half-year ended June, turning around its year-ago loss of US$17.7 million.

This comes on the back of record revenue of US$752 million, up 68 per cent year on year, the company headquartered in the United States and Singapore said yesterday. The bulk of its revenue came from the hardware segment.

The software segment grew its monthly active users by more than 50 per cent due to a rise in gaming, e-sports and live-streaming activities.

THE BUSINESS TIMES

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Blackstone

Blackstone is in advanced talks to acquire Singapore precision components business Interplex for about US$1 billion, said people familiar with the matter.

The US buyout firm is hammering out the details with owner Baring Private Equity Asia, according to the people, who asked not to be identified because the matter is private.

Blackstone emerged as a leading bidder after beating out rival private equity firms. An announcement could come in the next few weeks, but talks could still be delayed or fall apart, while other bidders remain interested, the sources said.

BLOOMBERG

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China Evergrande

Debt-laden developer China Evergrande Group has failed to pay some overdue bills, piping supplier Yonggao said yesterday, in the latest sign of a cash crunch at the teetering builder.

Financial markets are worried that the size of its debts present a systemic risk were it to fail. The firm's executives were last week issued a rare warning from regulators to get their house in order. It has more than US$300 billion of liabilities.

Yonggao now joins a handful of suppliers to threaten or launch legal action over missed or late payments.

REUTERS, BLOOMBERG