Company Briefs: JTC Corp

 JTC Corp

JTC Corp has launched a tender for an industrial land parcel in Tuas South Link 3, the third of six sites to be put up for sale from the confirmed list for the second half of this year.

The 5,953.3 sq m Plot 27, which is bracketed by Tuas South avenues 7 and 16, comes with a lease tenure of 20 years and is being offered under the Industrial Government Land Sales scheme.

The site is zoned B2 - an industrial land use category that includes clean industry, light industry, general industry and warehouse use - and has a maximum gross plot ratio of 1.4.

Vividthree Holdings

Vividthree Holdings (VVH) made its debut on the Singapore Exchange's (SGX) Catalist board yesterday morning, opening at 22.5 cents apiece, 10.1 per cent lower than its initial public offering (IPO) price of 25 cents.

Shares in VVH, whose work has been used in the Ah Boys To Men movie franchise, hit a high of 25 cents in the early morning and were trading at 24 cents as at 10.04am. Some 1.6 million shares changed hands.

The virtual reality, visual effects and computer-generated imagery studio registered its IPO prospectus on Sept 17 to raise gross proceeds of $12.95 million through a placement, comprising 51.8 million shares at 25 cents apiece.

VVH was 49.15 per cent owned by mainboard-listed mm2 Asia, with VVH managing director Charles Yeo having a 15.59 per cent stake, and visual effects director Jay Hong owning 15.58 per cent. Following the placement, mm2 Asia will be the controlling shareholder with about 41.53 per cent. Mr Yeo and Mr Hong will hold 13.17 per cent each.

The placement gives VVH about 334 million shares and a market cap of $83.5 million.

Nico Steel Holdings

Mainboard-listed Nico Steel Holdings is likely to see "a significant increase" in its six-month earnings, thanks to higher revenue and margins for its own brand of metal alloy materials, the board of directors has said.

The projected jump in consolidated net profit was attributed to an improvement in operating results that stems from its Nico-branded products, according to a positive profit guidance released yesterday. Nico Steel expects to announce its interim results for the period ended Aug 31 by Oct 15.

A version of this article appeared in the print edition of The Straits Times on September 26, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe