A-Smart Holdings, formerly known as Xpress Holdings, reversed from a loss into a profit in the third quarter. For the three months ended April 30, it recorded a profit of $41,000, a reversal of its losses of $234,000 a year earlier. This came even as revenue rose 2.7 per cent to $2.05 million. The firm attributed its positive performance to its disposal of loss-making subsidiary units in the previous financal year.
Net asset value rose to 5.36 cents as at April 30, up from a negative value of 0.57 cent a year earlier. Earnings per share came to 0.04 cent for the third quarter, down from 0.17 cent a year earlier.
A unit of mainboard-listed infrastructure and civil engineering firm OKP Holdings has won a JTC contract worth $11.7 million.
Its unit, Eng Lam Contractors, won a 10-month contract to build new roads and drains in North Coast Avenue and to work on junction improvements at Attap Valley Road.
The contract brings the group's total construction order book to $317.8 million.
Cambridge Industrial Trust
The manager of Cambridge Industrial Trust announced that its trustee, RBC Investor Services Trust Singapore, had entered in agreement for the proposed sale of the remaining leasehold in a Woodlands industrial building. The deal is valued at $17.68 million, excluding divestment costs and taxes. The four-storey industrial building, located within the JTC Woodlands Industrial Estate, has a current book value of $17.2 million, with a gross floor area of approximately 124,425 sq ft, with a remaining land tenure of about 39 years.
Singaporean jewellery company TLV announced yesterday that its unit, Taka Hong Kong Venture, made its first foray into the Chinese retail jewellery market.
It is in a joint venture with one of the biggest jewellery consortiums in Guangdong province, Maoming Liutao Zhubao Chuangyi Chanye, to sell its jewellery in China.
The proposed joint-venture company will be called Maoming Liutao Gaoda Zhubao, and will have an initial capital of 20 million yuan (S$4 million).
Taka HK Venture will have a 49 per cent equity interest in the joint-venture company.