Conglomerate Sembcorp Industries has increased its stake in its Indian renewable energy business.
Through its wholly owned subsidiary Sembcorp Utilities, the conglomerate subscribed to the entire rights issue by Sembcorp Green Infra.
It invested 750 million rupees (S$15 million) for the rights issue of Sembcorp Green Infra, including the 32.33 per cent not taken up by Green Infra's other owner, IDFC Private Equity Fund III. This brings Sembcorp Industries' stake in Sembcorp Green Infra to 68.74 per cent, from 67.67 per cent.
The firm is not expecting this to have a material impact on its earnings and net asset value per share for the financial year ending Dec 31.
Pawnbroker ValueMax Group reported a 46 per cent rise in profit to $3.9 million for the second quarter of this year.
However, the group's revenue declined 10 per cent to $64.9 million.
Revenue from retail and trading of pre-owned jewellery and gold business decreased by $8.7 million while revenue from pawnbroking increased by $900,000.
Gross profit increased by 27.5 per cent despite the decline in revenue, mainly due to a better gross profit margin and the write-off of excess of consideration over fair value of interest acquired in a subsidiary.
Earnings per share increased to 0.74 cent from 0.51 cent. Net asset value per share firmed from 29.14 cents as at Dec 31 to 29.61 cents.
The Singapore Exchange reported its market statistics for last month yesterday. It said total securities-market turnover value fell 7 per cent month on month, and fell 13 per cent to $21 billion compared with last year.
There were 20 trading days this July compared with 22 in June this year and July last year.
There were 54 new bond listings, raising a total of $19 billion. On the securities front, there were two mainboard listings raising $385 million and four Catalist listings which raised $37.6 million.
The total market-capitalisation value of 768 listed companies was $910.3 billion at the end of last month.