Company Briefs: T T J Holdings

T T J Holdings

Steel specialist T T J Holdings has recorded a slide in profit for the second quarter. Earnings fell by 43 per cent to $3.1 million, on the back of a 30 per cent fall in revenue to $20 million, for the three months to Jan 31.

It said the revenue drop was due to decreases in both its structural steel and dormitory businesses, as there was an expiry of tenure for one of the dormitories. But it was optimistic about outlook, noting that it has an order book of $59 million, including a deal to supply and install structural steelworks for Funan DigitaLife Mall.

Quarterly earnings per share was 0.88 cent, compared with 1.55 cents a year earlier. Net asset value per share was 36.36 cents as at Jan 31, up from 35.99 cents as at July 31 last year.

Silverlake Axis

Digital solutions provider Silverlake Axis may sell up to 19 million of its 41.6 million shares in Shenzhen Stock Exchange-listed financial information software provider Global InfoTech within six months from March 29, in line with Chinese Securities Regulatory Commission rules.

In a separate Singapore Exchange filing, Silverlake's board of directors said that it had been approached by its executive chairman and ultimate controlling shareholder, Mr Goh Peng Ooi, to acquire his interests in various Silverlake private entities.

The independent directors said the proposal should be explored "in line with the company's longer-term strategy of enhancing and expanding the company's operations beyond its core Silverlake Axis Integrated Banking Solution business".

China Environment Resources Group

China Environmental Resources Group has narrowed its losses on the back of higher revenue. Losses for the six months to Dec 31 came to HK$20.5 million (S$3.75 million), down from the HK$52.8 million posted for the same period last year, while revenue rose by 81 per cent to HK$6.7 million for the half-year.

Loss per share came to 1.21 Hong Kong cents, which was less than the 4.06 Hong Kong cents posted for the same period last year.

The company's main businesses are motor trading, car parking space rentals, the provision of financial services and the trading, investment and sales of plantation products.

It blamed the losses on higher operating costs for its plantation land in Xinjiang and the shrinking construction industry in China.

A version of this article appeared in the print edition of The Straits Times on March 09, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe