Sunningdale Tech yesterday posted a 64 per cent drop in fourth-quarter earnings on the back of a foreign exchange loss and retrenchment costs.
Net profit for the three months ended Dec 31 was $7.7 million, well down from $21.5 million for the same period a year earlier.
Excluding a $2.8 million foreign exchange loss, retrenchment costs, and the absence of an earlier gain from the disposal of property, plant and equipment, net profit would have risen 8.1 per cent to $10.6 million, the precision plastics components manufacturer said.
Revenue climbed 1.6 per cent to $187 million on higher turnover from all business segments except for consumer/IT.
Earnings per share fell to 4.12 cents, from 11.42 cents previously.
Sunningdale has proposed a final dividend of 4.5 cents a share.
This takes total dividends for 2017 to seven cents, 16.7 per cent higher than the six cents declared for 2016.
SUTL Enterprise, the owner of the ONE°15 luxury yachting brand, has entered into a conditional sale and purchase agreement to acquire a 60 per cent stake in Makham Bay Marina Co for $5.6 million. The project's total construction cost is estimated at $24.3 million.
The target firm has construction permits and development rights for a proposed marina to be located at Makham Bay in Phuket.
It holds the land side and accompanying water area body for a 30-year leasehold period.
As part of the agreement, SUTL Enterprise will be involved in the design, construction, development, operation and maintenance of this integrated marina club and marina facilities.
Embattled disk drive maker Datapulse Technology has a new chief executive, the company said yesterday.
Mr Wilson Teng Wai Leung will join the mainboard-listed Datapulse as CEO and executive director on March 8. His predecessor Kee Swee Ann quit just weeks prior - and barely a month after taking the job.