Conglomerate Sembcorp Industries said yesterday that it has increased its stake in an Indian renewable energy business to 72 per cent.
Its Sembcorp Utilities unit has subscribed to an entire rights issuance by Sembcorp Green Infra to fund the company's growth in the renewable sector in India.
This includes the rights issuance not subscribed to by its partner IDFC Private Equity Fund III.
The total investment of about one billion Indian rupees (about S$21.2 million) was financed through internal funds.
Upstream energy group Loyz Energy returned to the black in the fourth quarter.
Net profit was US$11.4 million (S$15.5 million), compared with a loss of US$146,000 for the same period a year earlier.
Quarterly revenue slumped 38 per cent to US$1.6 million for the three months to June 30.
Full-year net profit was US$12.9 million, compared with a net loss of US$19.5 million, while turnover for the year dropped 16 per cent to US$9 million against the same period a year earlier.
Quarterly earnings per share was 0.96 US cent, compared with a loss of 0.02 US cent previously, while net asset value was 3.30 US cents as at June 30, up from 2.73 US cents last year.
Cable-making firm Hengxin Technology reported that net profit for the six months to June 30 grew 35.8 per cent to 68.6 million yuan (S$14 million), while revenue rose 17.1 per cent to 852.8 million yuan.
The firm's business segments, including telecommunications equipment and accessories, contributed to the lift.
Earnings per share was 0.177 yuan, compared with 0.13 yuan the same period a year ago, while net asset value was 3.75 yuan as at June 30, compared with 3.6 yuan as at Dec 31.