Company Briefs: SUTL Enterprise

SUTL Enterprise

Mainboard-listed SUTL Enterprise, which develops and operates marinas, won its second management contract in China for an upcoming integrated marina at Sanshan Island in Taihu Lake, Suzhou.

The 10-year contract was awarded by the project's master developer. The project will include a private marina, yacht membership club and facilities.

The new marina will carry SUTL Enterprise's ONE°15 brand, said the firm yesterday, and it will be involved in conceptualisation and design as well as managing the day-to-day operations, among other things.

The group is also providing consultancy and management services to another marina under construction in Guishan, Zhuhai, which is scheduled to be completed in 2019 and will be named ONE°15 Marina Guishan.

It also inked a memorandum of understanding with the Hainan Cruise & Yacht Association on Sept 12 to exchange ideas about expanding Hainan Island's leisure marina industry.

Sunpower Group

Mainboard-listed Sunpower Group has won a contract worth 94.8 million yuan (S$19.5 million).

The China-based energy firm will provide four reactors to a unit of Chinese conglomerate Tongwei Group for its facility which will start production next year.

Sunpower will complete the delivery in the first half of next year, and this will have a positive impact on its 2018 financial results.

Jackspeed Corp

Jackspeed Corp, which provides leather seats and accessories to the automotive industry, reported that half-year net profit soared 60.7 per cent to $2.6 million.

The firm said this was mainly owing to better performance of the accessories segment in terms of revenue and gross profit margin.

Revenue for the six months ended Aug 31 fell 23.8 per cent to $29.1 million.

Earnings per share for the period was 0.99 cent, compared with 0.65 cent a year ago, while net asset value per share was 17.78 cents as at Aug 31, compared with 17.85 cents as at Feb 28.

It has recommended an interim dividend of 0.5 cent per ordinary share.

A version of this article appeared in the print edition of The Straits Times on October 11, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe