Company Briefs: SoilBuild Business Space Reit

SoilBuild Business Space Reit

SoilBuild Business Space Reit (SoilBuild Reit) reported that third-quarter distribution per unit (DPU) dipped 1.8 per cent to 1.374 cents.

Gross revenue rose 4.1 per cent to $20.5 million in the three months to Sept 30, while net property income increased 3 per cent to $17.8 million. This was due to higher turnover from properties such as Bukit Batok Connection and Solaris at one-north, but partly offset by less revenue from 72 Loyang Way.

Property expenses rose 11.3 per cent compared with the same period a year earlier, owing to higher property operating expenses for 72 Loyang Way and Bukit Batok Connection.

From Jan 1 this year, property and lease management fees were paid in cash instead of units and third-quarter fees were $500,000.

Epicentre Holdings

Apple reseller Epicentre Holdings said the firm and its units do not have any issues and are able to continue to operate. This follows reports that auditors would not sign off on the company's financial statements on Oct 11.

Multimillion-dollar transactions with entities involving company shareholders were flagged in a report by accountancy firm BDO.

Epicentre Holdings said it has appointed Deloitte and Touche to do an independent review of the issues raised.

There are no other material changes in its affairs and nothing that may have a material effect on the financial position, it added.

It said shareholders and potential investors are advised to read its announcement carefully and exercise caution before making any decision.

Europtronic Group

Europtronic Group reported third-quarter net loss narrowed to US$101,000 (S$136,000), from US$2.5 million in the same period a year ago.

Revenue plunged 96.64 per cent to US$113,000 for the three months to Sept 30, owing to less turnover from the component manufacturing business unit.

Quarterly loss per share was 0.01 US cent, compared with 0.27 US cent a year ago, while net asset value per share was -1.55 cents as at Sept 30, compared with -1.34 cents as at Dec 31.

A version of this article appeared in the print edition of The Straits Times on October 14, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe