MARKET UPDATES :
- SINGAPORE shares end higher on Monday.The Straits Times Index gained
32.15 points to 3,423.35.Some 1.31 billion shares, valued at S$1.29
bllion were traded. Gainers numbered 182 while losers numbered 261.
- IPC Corporation on Monday posted a 57.1 per cent increase in
full-year net profit to S$28.6 million for its fiscal year ended Dec 31,
2014.This was despite the property developer and hospitality group’s
28.9 per cent drop in sales to S$33.4 million. “Majority of the
apartment units from the Oppama condominium project were sold in 2013,
thereby resulting (in) a decrease in revenue for FY2014,” it said.Its
earnings, however, were boosted by gains of S$22.7 million from the
revaluation of investment properties in Japan, and gains of S$14.8
million on the disposal of investment properties in Japan.
- CATALIST-LISTED Singapore eDevelopment, formerly known as CCM Group,
on Monday said it expects to report a loss in its unaudited financial
results for the financial year ended Dec 31, 2014 (FY2014).The expected
loss was mainly due to losses incurred by its legacy construction
business (prior to the disposal of CCM Industrial in May 2014), losses
and provisions made arising from claims against corporate indemnities
previously issued to its legacy construction business, as well as a
non-cash fair value adjustment of embedded financial derivative arising
from the issuance of exchangeable notes, said the company.
- YuuZoo Corporation on Monday said it has partnered Activistic – an
Australian company specialising in micro-donations and micro-payments –
to provide a platform across YuuZoo’s networks to enable micro-donations
and micro-payments for charitable purposes.The initial focus will be on
emerging markets, where limited access to credit card payment tools
restricts the donation base of organisations, said the company.The
platform will also bring a new dimension to the YuuZoo eco-system and
another engagement path for Gen-Y in the developed markets, added
YuuZoo. Said Activistic executive director Kevin Baum: “The process of
donating is stuck in the last century.
- Agri-food company Japfa on Monday said it has acquired the remaining
15 per cent of Japfa Comfeed Myanmar (JCMA) for US$5.7 million, making
JCMA a wholly-owned subsidiary of the group. The acquisition is made via
a conditional share purchase agreement (SPA) between Japfa’s
wholly-owned subsidiary Japfa Myanmar JV – which currently holds 85 per
cent of JCMA – and Best Livestock Limited, an unrelated third party, for
the remaining 15 per cent of the issued share capital of JCMA. The
US$5.7 million consideration was arrived at on a willing-buyer,
willing-seller basis, said Japfa. A refundable deposit of US$1.0 million
will be paid around Feb 2.
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