Company Briefs: Sapphire Corporation

Sapphire Corporation

Sapphire Corporation has secured a 452 million yuan (S$92 million) contract to build part of a 20-station metro line in Beijing.

Its wholly-owned subsidiary Ranken Infrastructure will undertake civil engineering works for 834m of the 29.6km Beijing Metro Line 12, which runs through four districts.

The new contract comes just two months after Sapphire secured 873 million yuan worth of contracts to design and build metro lines and other infrastructure in several Chinese cities, including Taiyuan and Chongqing.

The latest contract, slated for completion in slightly more than four years, is expected to have a positive impact on the group's financial performance from next year onwards.


Lifebrandz reported a narrowing of its full-year net loss to $1.1 million from $7.6 million before.

Revenue for the year ended July 31 fell by 19 per cent to $1 million, mainly due to slower food and beverage sales at its pub and bistro business, Mulligan's. The outlet saw a decline in tourist arrivals and patronage. Sales performance was distorted by competition from other new and existing pubs and clubs in the vicinity, Lifebrandz said.

Loss per share was 0.03 cent compared to 0.27 cent previously. The group has fallen into a net liability position of 0.01 cent a share, from a net asset backing of 0.03 cent per share.

Khong Guan Flour Milling

Khong Guan Flour Milling's net profit dived by 95.3 per cent to $58,000 for the year ended July 31. Revenue fell by 5.4 per cent to $58.7 million, due mainly to the weakening of the Malaysian ringgit and a reduction in sales of short-term investments.

Sabah-based TGF reported an improved turnover of RM104.7 million (S$34 million) from RM95.3 million, due mainly to the rise in sales of edible and non-edible goods.

Security measures along coastal towns as a result of terrorism-related kidnappings hit the businesses of its branches in Sabah.

Penang-based SHC saw its turnover rise to RM62.2 million from RM59.1 million.

Earnings per share slumped to 0.22 cent from 4.78 cents previously while net asset value per share slipped by 13 cents to $2.43.

The company has proposed an unchanged final dividend of three cents a share.

A version of this article appeared in the print edition of The Straits Times on September 29, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe