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Golden Ocean Records Net Profit of S$13.05 million in 1Q2012

Golden Ocean Group Limited reported Wednesday a net profit of S$13.05 million on revenue of S$52.80 million for the fiscal first quarter ending 31 March 2012.

A year ago, the group reported a loss of S$19.33 million, on revenue of S$82.61 million.

The Board of Directors expects the second quarter 2012 operating profit to be more or less in line with the first quarter.

Golden Ocean will not pay dividends for the first quarter of 2012.


Cortina to Acquire Seven Units at The Adelphi

Cortina Holdings Limited Wednesday proposed acquisition of seven units located at The Adelphi.

The group said it has decided to exercise its options to purchase these properties and has paid a deposit of S$1.8 million, or 9 per cent of the purchase price.

Cortina Holdings Limited closed Wednesday at S$0.555.


Sunray Holdings Reports Loss in FY2012

Sunray Holdings Limited sunk deeper into the red for the fiscal year ending 31 March 2012 with a net loss of RMB41.5 million (S$8.4 million, on revenue of RMB47.94 million.

A year ago, the group reported a loss of RMB8.40 million on turnover of RMB56.38 million.

Revenue decreased 15 per cent year on year due to an overall decrease in sales from all segments due to lower demand and no introduction of new product features.

Sunray said it continues to face keen competitions on the medical equipment and consumable business.

The group has been placed under the watch-list and has until 2 June 2012 to meet the requirements to exit from the watch-list pursuant to Rule 1314 of the Listing Manual.

Sunray Holdings Limited closed Wednesday at S$0.01


Z-Obee Holdings Records Fall in Profit

Sunray Holdings Limited reported Wednesday that its revenue fell by 7.72 per cent over the last year to US$136.8 million (S$174.7 million) for the year ending 31 March 2012 (FY2012).

The decrease in revenue was mainly due to the decline in the Solution and Assembly segments during the year as the company reduced its electronics assembly business and redeployed its resources into other areas of convergence technologies.

The fall in the topline resulted in lower profit of US$5.1 million as compared with last year

The company continues to face keen competition in the handset business but will exercise due care in the management and pursuit of its existing business.

Z-Obee Holdings Limited closed Wednesday at S$0.119


Renewable Energy Asia Group Narrows Losses in FY2012

Renewable Energy Asia Group Limited reported Wednesday that its revenue jumped by 80.9 per cent to RMB230 million (S$46.3 million) for the year ending 31 March 2012.

The surge in topline was attributed to higher sales of wind turbine structure arising from an increased order from a major customer, China Datang.  Hence the company booked a lower loss of RMB28.6 million year-on-year.

Going forward, the group hopes to further strengthen its partnership with China Datang.

Renewable Energy Asia Group Limited closed Wednesday at S$0.046


Metro Holdings FY2012 Net Profit Up 12.2 Per cent

Mainboard-listed Metro Holdings Limited reported Wednesday a 12.2-per increase in profits for FY2012 to S$91.9 million, from S$81.9 million in FY2011.

Profit was achieved mainly due to a gain from the disposal of its jointly-controlled entity, Metro City Beijing this year and a decline in general and administrative expenses due to lower foreign exchange losses.

Total turnover increased 6.7 per cent to S$187.0 million compared to S$175.2 million last year.

Metro has declared a special dividend of S$0.04 and an ordinary final dividend ofS$0.02 respectively per share, totalling the dividend to S$0.06 for FY2012.

Metro Holdings Limited closed Wednesday at S$0.765.