Company Briefs: Creative Technology

Creative Technology

The home-grown technology company recorded a loss of US$6.5 million (S$9.2 million) for the three months ending Dec 31. This was a reversal from its US$12 million profit for the same period a year earlier.

Creative suffered a 16 per cent fall in sales to US$22.2 million for the quarter.

It made a loss of 9 US cents per share, compared with earnings of 17 US cents per share for the same period earlier.

Net asset value as at Dec 31 was US$1.20, down from US$1.40 as at June 30 last year.

The company attributed its lower revenue to uncertain and difficult market conditions.

Global Premium Hotels

The hospitality group announced that it has obtained development approval for an iconic luxury hotel in Perth, which is set to be the tallest hotel in Western Australia.

The hotel, located in Perth's central business district, will be about 249.5m high with 62 levels. It will comprise 545 rooms, including 60 hotel apartments and four premium suites.

Fronting the development in St Georges Terrace is St Andrew's Uniting Church, a building constructed in 1906 and widely recognised to be of cultural and historical significance.

The church will be restored and turned into a premium restaurant that will form part of the hotel.

The project is estimated to be completed in 2020.

A version of this article appeared in the print edition of The Straits Times on February 03, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe