Steel company TTJ Holdings recorded an 81 per cent fall in first-quarter net profit due to weaker sales, it reported yesterday.
Net profit for the three months to Oct 31 came in at $760,000, compared with $4.08 million a year earlier.
Revenue fell 49 per cent to $13.6 million, mainly due to the decrease in structural steel business, and the expiry of tenure for the dormitory at Terusan Lodge I, resulting in no contribution from the dormitory business.
Fraser and Neave (F&N) may acquire up to 21.8 million shares in Vietnam's Vinamilk - or about 1.5 per cent in Vinamilk - through its subsidiary, it said yesterday.
F&N, through two wholly owned units, owns just under 20 per cent of Vinamilk.
"The notice of transaction relates only to F&N Dairy Investments' intention to acquire the additional Vinamilk shares and there is no certainty or assurance that the transaction will materialise," the company said.
Heatec Jietong Holdings
Heatec Jietong Holdings has secured two new contracts worth approximately $3.7 million for its heat exchanger business.
The company, which mainly provides services to marine, and oil and gas industries in Singapore, also handles piping and chemical cleaning services.
Mr Jeffrey Soon, its chief executive and executive director, said yesterday: "We are seeing an upturn in our operating markets, and we are well positioned with our track record as well as our integrated portfolio of products and services in the heat exchanger industry.
Broadway Industrial Group
Broadway Industrial Group's wholly owned subsidiary Compart Engineering has sold an industrial building in the United States for US$3.69 million (S$5 million).
The precision parts manufacturer said in a pre-market filing yesterday that the sale was a good opportunity for the company to dispose of an underperforming asset for "valuable consideration" and is part of a plan to strengthen its balance sheet.