Jasper Investments reported net losses of US$111,000 ($155,470) for 2QFY2016, compared with net losses of US$255 million in 2QFY2015.
Revenue for the quarter was US$266,000 for the provision of commercial management services. The group did not recognise any revenue in the restated results for the corresponding quarter, as its offshore drilling activities were discontinued under a framework agreement signed on 21 Jan 2015.
Administrative expenses were 53.3% lower at US$246,000 , and other expenses included a loss on disposal of available-for-sale financial assets of US$150,000, offset by the unrealised exchange gain of US$13,000.
Triton Investments had on Nov 2, closed a mandatory general offer for the shares in Jasper that it did not already own, and now holds 81.4% of the company.
However, Jasper says it intends to continue to carry on its business of vessel management and operation services, and maintain its listing status on the Singapore Exchange. The company also adds that it is in advanced discussions with a project principal which is in the business of vessel management and operations, particularly in the provision of barge transportation services for infrastructural works in the North Asian.
Jasper did not declare any dividends for the current financial period.
Jasper’s shares closed unchanged at 0.5 cents on Tuesday.
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Revenue for the quarter was US$266,000 for the provision of commercial management services. The group did not recognise any revenue in the restated results for the corresponding quarter, as its offshore drilling activities were discontinued under a framework agreement signed on 21 Jan 2015.
Administrative expenses were 53.3% lower at US$246,000 , and other expenses included a loss on disposal of available-for-sale financial assets of US$150,000, offset by the unrealised exchange gain of US$13,000.
Triton Investments had on Nov 2, closed a mandatory general offer for the shares in Jasper that it did not already own, and now holds 81.4% of the company.
However, Jasper says it intends to continue to carry on its business of vessel management and operation services, and maintain its listing status on the Singapore Exchange. The company also adds that it is in advanced discussions with a project principal which is in the business of vessel management and operations, particularly in the provision of barge transportation services for infrastructural works in the North Asian.
Jasper did not declare any dividends for the current financial period.
Jasper’s shares closed unchanged at 0.5 cents on Tuesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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