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First REIT’s manager, Bowsprit Capital Corporation, today reported a 1.3% rise in first-quarter distributable income to $5.2 million for the period ended 31 March 2010.
This was achieved on the back of a 0.6% increase in gross revenue to $7.5 million. Higher rental income from Indonesia properties was partly offset by the deferment of rental income from Pacific Cancer Centre @ Adam Road as the property is currently under redevelopment. The REIT’s gross revenue would have increased by 4.6% to $7.7 million if the deferred rental income had been included.
OKP Holdings, the infrastructure and civil engineering firm, has secured its first contract win for the year — a $5.2 million contract from the Jurong Town Corporation (JTC) — for construction and maintenance works at Tuas South Avenue 12 and Tuas South Avenue 14 (Tuas View Extension – Phase 1).
The project was awarded to OKP’s wholly-owned subsidiary, Eng Lam Contractors Co., and is scheduled to begin in March and targeted for completion in June 2011. The scope of works includes construction and maintenance works of carriageways, drains and pipes, footpaths, traffic signages and street lightings as well as landscaping works such as turfing and tree-planting.
For 3QFY2010, KSH Holdings says it achieved a turnaround in net profit after tax to $5.2 million from a loss of $0.9 million in the same corresponding period last year.
This was achieved on the back of $82.5 million in revenue in 3QFY2010 with contribution from a new project and other ongoing projects that are progressing into more advanced stages of construction.
Mainboard-listed United Envirotech, one of the leading membrane-based water and wastewater treatment solutions providers, says it posted a 383.6% y-o-y increase in net profit of $5.2 million in 3QFY2010.
On the back of higher engineering income and recurring treatment revenue, the group recorded $18.8 million revenue in 3QFY2010, representing 114.3% y-o-y increase in revenue.
