Company Briefs: Keppel T&T

Keppel T&T

Keppel Telecommunications & Transportation (T&T) yesterday reported a third-quarter net profit of $11.8 million, 12 per cent lower than the $13.5 million recorded last year.

The data centre operator said the decrease was mainly due to higher operating costs, as well as the absence of gain from the partial disposal of a data centre, Keppel DC Singapore 4, in the third quarter of last year.

Revenue was $47.9 million, up 7 per cent from $45 million a year ago. During the period, higher data centre facility management income, as well as revenue from the warehousing and channel management businesses, offset the lower revenue from port operations in China, Keppel T&T said.

Earnings per share for the quarter were 2.1 cents, versus 2.4 cents in the previous year.

No dividends have been proposed for the period.

Addvalue Technologies

Addvalue Technologies said yesterday that its business has been valued at about $123 million as of May 31 last year.

The company, which was responding to shareholders' concerns, said it had engaged intangible asset specialist EverEdge Global (NZ) last year to review its intellectual property (IP) assets.

As the valuation "was only intended for management internal reference and not for any other purpose", it was not previously shared with shareholders or the investing public, said Addvalue.

Addvalue said that, having received two inquiries from shareholders on Oct 12 about the value of its IP assets, it "is of the view that it would be good to provide the shareholders of the company and the investing public at large additional information and clarification on the intangible assets of the group".

It noted that the "intrinsic value and worth" of its staff and IP assets are not accounted for in its books and hence not reflected in its financial position and performance.

With regard to its Inter-Satellite Data Relay System (IDRS) business, Addvalue said the growth potential of that market "is tremendous" and has outgrown the expectations assumed in deriving the earlier valuation.

It expects "a few more IDRS contracts to be signed" in the remaining period of the financial year ending March 31 next year, and "expects the forged partnerships to help accelerate the growth of its IDRS business in FY2019 and beyond".

A version of this article appeared in the print edition of The Straits Times on October 18, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe