The Place Holdings
Mainboard-listed The Place Holdings has narrowed its first-quarter net loss to $334,000 for the three months ended March 31, from $750,000 a year ago.
This was bolstered by revenue from the management of cultural events, the investment holding company said in a regulatory filing on Wednesday night.
Loss per share was at 0.01 cent, unchanged from the year before. There is no dividend declared for the quarter, unchanged from the same period a year ago. Net asset value was 1.58 cents, unchanged from end-December 2018.
Revenue for the group grew 37 per cent to $404,000, from $295,000 a year ago. This comprised revenue of $101,500 from the management of cultural events and activities and $302,500 for providing management services to BJ Aozhong Real Estate.
For the same period last year, revenue consisted of only providing management services to BJ Aozhong Real Estate.
Following its successful acquisition of Realty Centre for $148 million, the group is looking to embark on tourism-related business activities in Singapore.
Earnings slipped at Singapore Exchange (SGX) in the third quarter despite a robust performance in the derivatives business.
Net profit fell 0.8 per cent to $99.7 million for the three months to March 31, it reported yesterday. Operating revenue rose 2.9 per cent to $228.8 million.
An interim dividend of 7.5 cents per share has been declared, compared with five cents a year earlier. It will be payable on May 13.
Chief executive Loh Boon Chye said: "We achieved another record derivatives performance, registering daily average volume of more than one million contracts for the first time during the quarter.
"We saw increased activity and higher open interest amid strong institutional demand as our clients continued to use our multi-asset platform to manage their portfolios across equities, currencies and commodities.
" Our Reit (real estate investment trust) sector remained an outperformer with higher turnover, contributing 20 per cent of the overall securities daily average value in (the third quarter)."
Earnings per share came in at 9.3 cents, down from 9.4 cents a year earlier.
SGX shares closed down 0.28 per cent at $7.26 yesterday.