Transcorp Holdings

Catalist-listed Transcorp Holdings on Thursday night warned of an expected loss for the financial year ended Oct 31.

Based on a preliminary assessment, Transcorp expects to record a net loss after tax that is higher than that of FY2017.

"The expected loss is largely due to a reduction in the number of cars sold, leading to lower revenue," it said.

The company will announce its unaudited consolidated financial results for FY2018 by the end of this month. It advised caution in dealing in its shares.

In June, Transcorp reported that its loss for the half year ended April 30 had widened to $2.68 million, from $2.28 million in the same period a year before.

Mirach Energy

Mirach Energy, which is on the Singapore Exchange watchlist, has proposed placements of a total of 28.56 million new ordinary shares to six individuals for an aggregate consideration of $4.28 million, it announced on Thursday after the market closed.

The proposed placements aim to raise funds to pay the vendors of Malaysian plantation company RCL Kelstar Sdn Bhd, in which Mirach is to take a 70 per cent stake under a conditional agreement signed in July, as well as to increase the company's general working capital. The expected net proceeds of $4.14 million will go towards these two purposes.

On Thursday, Mirach entered into six separate conditional share placement agreements with a placement price of 15 Singapore cents per share, representing a premium of about 29.3 per cent to the volume weighted average price of 11.6 Singapore cents for trades that day.

Mirach said the placees "are all individual private investors who have expressed their interest in taking up new shares in the company for investment purposes".

One placee Chen Cheng Yuan is to receive 9.75 million placement shares, translating to a 4.21 per cent stake, assuming that all placement shares are successfully allotted and issued. The other five will receive 3.76 million each, or a 1.62 per cent stake each.