Samudera Shipping Line, the regional container shipping line, has reported a turnaround in net profit of US$6.3 million ($8.2 million) or 1.16 US cents per share for the three months ended 30 September 2010 (3Q10), compared to a net loss of US$4.0 million or loss of 0.74 US cents per share in 2009 (3Q09).
The group’s revenue for 3Q10 rose 14.2% to US$97.2 million from US$85.1 million a year ago.
Niche property developer Heeton Holdings has reported a 11.7% growth in net profit, to $6.3 million for 2Q10 on revenue of $9.5 million, compared with net profit of $5.6 million on revenue of $7.3 million a year ago.
This takes into account a $189,000 profit contribution in 2Q09 from the operation of wet markets, which were divested in 1Q10. Excluding this item, the increase in net profit from continuing operations was 15.7%.
Jackspeed Corporation says it has entered into a sale and purchase agreement with Mil-Com Investments to purchase 800,000 Mil-Com Aerospace shares representing an 80% stake for $6.3 million.
Mil-Com Aerospace is in the business of the provision of aerospace engineering support services, aviation training and consultancy services.
Advanced Holdings says wholly-owned subsidiary, Advanced Engineering Holdings, has entered into a sale and purchase agreement dated June 21to acquire the entire issued and paid up share capital of ATAC at GBP3,027,027 ($6.3 million) which will be funded by internal cash resources.
China Essence Group, one of the leading integrated producers of potato products in China, says net profit surged in the fourth quarter (4Q FY2010) 2010 surged 186% to RMB30.1 million ($6.25 million) from RMB10.5 million in the previous corresponding period (4Q FY2009).
In 4Q FY2010, China Essence registered revenue of RMB204.3 million, a 15% increase from RMB177.1 million in 4Q FY2009, bouncing back from a challenging first half of calendar year 2009 (1H FY2010) where the global economic crisis took its toll.
GMG Global, the integrated producer of natural rubber from planting to marketing and exporting of natural rubber; announced a 59.6% increase in net profit to $6.3 million for the three months ended 31 March 2010 (1Q2010).
Builder Low Keng Huat (Singapore) says net profit attributable to shareholders increased by $33.5 million to $62.9 million for the full-year ended Jan 31 2010 from $29.4 million during FY ended Jan 31 2009.
Sarin Technologies, the manufacturer of precision technology products for processing diamonds and gems, says net profit rose to US$4.5 million for the quarter ended 31 December 2009 (4Q2009).
The year 2009 was characterised by a weak first half, followed by a strong recovery in the second half. Underpinned by the continued recovery of the diamond manufacturing industry, Sarin recorded a 314% increase in 4Q revenue to US$10.4 million.
Hai Leck Holdings, the integrated service provider of scaffolding, corrosion prevention and insulation works, says it posted a net profit after tax of $6.3 million for the six months ended 31 December 2009 (1H2010), an increase of 6% over the $5.9 million it made in the previous corresponding period.
For the same period, Hai Leck made $68.7 million in revenue, a rise of 50% or $22.9 million from $45.7 million in the previous corresponding period. The increase is due mainly to higher revenue from on-going projects in the Project Services unit that were mostly contracted in FY2007 and late-FY2008.
