SG briefs: DBS, iX Biopharma, Tan Chong Intl, CNMC Goldmine, Grand Banks Yachts

A DBS branch including an outlet of non-profit Bettr BaristaA DBS branch including an outlet of non-profit Bettr Barista

Singapore company briefs: CNMC Goldmine Holdings, DBS, iX Biopharma, Tan Chong International and Grand Banks Yachts.


DBS said Friday it was committing an additional S$100 million to support expanding the scope of the DBS Foundation and to support its social entrepreneurship programs. The funds may also be used for philanthropic initiatives and relief measures for communities, the bank said in a statement.

Businesses-for-impact which have previously received support from DBS’ programs include Homage and Treedots, the statement said.

Read DBS’ statement

iX Biopharma

IX Biopharma reported Friday a fiscal first half net profit of $3.66 million, swinging from a year-earlier net loss of S$2.81 million. 

“The turnaround in profitability was driven by the outlicensing of Wafermine to Seelos Therapeutics, Inc. in November 2021. In addition to the upfront fee, the partnership with Seelos Therapeutics, Inc. could generate additional development and sales milestone payments of up to US$239 million and sales royalties moving forward,” iX Biopharma said in a filing to SGX.

Read iX Biopharma’s statement filed to SGX.

Tan Chong International

Tan Chong International guided Friday that it expects to post a 2021 after-tax profit of around HK$420 million, compared with an after-tax profit of HK$85 million for 2020. 

“The increase in after-tax profit is mainly attributable to the valuation gains of the group’s investment properties,” Tan Chong said in a filing to SGX.

CNMC Goldmine Holdings

CNMC Goldmine Holdings guided Friday that it expected to report a net profit for 2021, compared with a net loss in 2020 due to increased gold production and no expected material impairment. The results will be released on or before 28 February, the company said in a filing to SGX.

The Catalist-listed gold miner is developing the Sokor Gold Field Project, located in Kelantan state in Malaysia.

Grand Banks Yachts

Grand Banks Yachts reported Friday its fiscal first half swung to a net loss of S$694,000 from a year-earlier net profit of S$3.98 million, as revenue came in at S$33.77 million, down 36.8 percent on-year.

The loss for the six months ended 31 December was due to disruption caused by the pandemic as the manufacturing facility in Johor, Malaysia, suspended activity in compliance with efforts to stem the spread of the Covid-19 virus, the company said in a filing to SGX. 

Grand Banks Yachts noted its net order book reached a high of S$154.2 million on strong demand for its boat models. 

Read Grand Banks Yachts’ filing to SGX.