Company Briefs: Hi-P International

Hi-P International

Consumer electronics manufacturer Hi-P International posted a 20 per cent increase in first-quarter net profit to $10.1 million, despite an increasingly competitive landscape.

Earnings per share increased to 1.25 cents from 1.04 cents in the same period last year.

For the three months ended March 31, revenue expanded 15.1 per cent, due mainly to higher sales volume, it said.

As a result of the weakening of the US dollar against the Chinese yuan and Singapore dollar, the group reported a $13 million net foreign exchange loss that was partially offset by net fair value gain on hedging instruments amounting to $1.7 million.

Net asset value per share edged up to 68.12 cents as of March 31, up from 65.44 cents as of Dec 31.

United Overseas Bank

Start-ups and small and medium-sized enterprises (SMEs) that are customers of United Overseas Bank (UOB) will now be able to enjoy preferential rental rates - of up to 20 per cent off - at co-working spaces in four South-east Asian markets, the bank said yesterday.

This follows the signing of four memorandums of understanding with co-working space providers EV Hive (Indonesia), Common Ground (Malaysia), WORQ (Malaysia) and 80RR Fintech Hub SG (Singapore).

With the latest agreements, the bank's start-up and SME customers have access to 33 co-working spaces located around the region, UOB said.

Cityneon Holdings

Events and exhibitions firm Cityneon Holdings has secured an exclusive worldwide licence to the rights for The Hunger Games: The Exhibition.

The exhibition, based on the Hunger Games movie series, has toured places such as New York, Sydney, San Francisco and Louisville, the firm said yesterday.

The agreement with Lions Gate Exhibition (Lionsgate) lasts for seven years, starting from the earlier of the first opening date of the exhibition to the public, or eight months from the date of agreement. It may be renewed for up to seven more years.

The new licensing agreement provides an outlet for immediate revenue streams and profits, said Cityneon.

A version of this article appeared in the print edition of The Straits Times on May 03, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe