Bonvests Holdings has entered into an agreement with APHV Perth InvestCo to acquire the Four Points hotel by Sheraton Perth for A$91.5 million ($91.8 million).
The agreement was entered into by Bonaventure (Australia) as trustee for the Bonaventure (Australia) Trust. Both are wholly owned by Henrick (Singapore), which is in turn a wholly-owned subsidiary of Bonvests Holdings.
The 278-room hotel is a 4.5-star hotel that sits on a 2,742 sq m freehold site. It is managed by Starwood and the management contract runs until 2027. The acquisition will be funded by bank borrowings.
Infrastructure and civil engineering firm OKP Holdings has posted a net profit of $2.95 million in the second quarter, up 754.5 per cent from $345,000 a year earlier.
Revenue for the three months to June 30 came in at $27.2 million, down 1 per cent from a year ago. A fall in turnover from the maintenance segment was partially offset by an increase in construction revenue.
Earnings per share stood at 0.96 cent, from 0.11 cent in the same period a year ago, while net asset value per share came in at 32.52 cents, up from 31.26 cents as at Dec 31.
Oil and gas exploration group Ramba Energy has posted a net loss of $3.21 million in the second quarter, from a loss of $2.92 million a year ago.
Revenue in the three months to June 30 came in at $16.5 million, down 21.7 per cent from the same period last year, due mainly to a marine project that was completed in May last year, the cessation of chemical business at the end of the last financial year and lower gas production.
Loss per share stood at 0.69 cent, from 0.85 cent a year ago, while net asset value was 18.41 cents, down from 17.44 cents as at Dec 31.