Company briefs : Global Tech (Holdings)

Global Tech (Holdings)

Global Tech (Holdings) has sunk deeper into the red, as a result of higher expenses.

The firm said its net loss grew from HK$16 million (S$2.9 million) to HK$23.3 million in the year ended Sept 30. This was largely due to "a significant increase in administrative expenses and other operating expenses".

Global Tech, through its subsidiaries, sells and distributes cellular handsets and related accessories in Hong Kong and mainland China. It also provides repair services of telecommunication products.

Turnover came in at HK$86.7 million, down from HK$89.8 million in 2014. The bulk of the revenue came from its repair service business, which contributed HK$80.9 million to the group's turnover.

Loss per share was 0.5 HK cent, compared with loss per share of 0.3 HK cent a year ago.

Envictus International Holdings

Mainboard-listed food and beverage company Envictus International Holdings posted a net loss of RM363,000 (S$121,000) for the year ended Sept 30.

This is a reversal from the net profit of RM542.6 million in the previous year, which was boosted by profit from a discontinued business.

Revenue rose 6.7 per cent to RM327.4 million for 2015. Net asset value per share for the group was 58.25 sen as at Sept 30, up from 54.51 sen a year earlier.

Envictus said it has proposed to undertake a share consolidation of every five shares into one consolidated share to comply with the minimum trading price of 20 Singapore cents - a continuing listing requirement for issuers listed on the SGX mainboard.

The proposal will be subject to shareholders' approval at the upcoming annual general meeting, it added.

Genting Berhad

Genting Berhad, Malaysia's gaming-to-plantations conglomerate, yesterday reported a 2.4 per cent rise in profits for the third quarter ended September, mainly driven by higher net foreign exchange gains and a reversal of previously recognised impairment losses.

The group - controlled by the country's fourth richest man Lim Kok Thay, according to Forbes - said net profit for the July-to-September period rose to RM361.1 million (S$120.3 million) from RM352.7 million for the same quarter a year earlier.

Revenue increased 3.4 per cent to RM4.65 billion.


A version of this article appeared in the print edition of The Straits Times on November 27, 2015, with the headline 'CompanyBriefs'. Print Edition | Subscribe