SG briefs: Cosco Shipping Intl, China Haida, Katrina Group

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Singapore company briefs: Cosco Shipping International (Singapore), China Haida and Katrina Group.

Cosco Shipping International (Singapore)

Cosco Shipping International (Singapore) said Friday Cosco Shipping Bulk (Southeast Asia) posted a distributable profit of US$5.48 million, or around S$7.43 million, for the second half of 2021.

Under the deal to sell 60 percent of Cosco Shipping Bulk (Southeast Asia), the distributable profit will be paid as a dividend to Cosco Shipping International (Singapore), the company said in a filing to SGX.

Read more: Cosco Shipping Intl (Singapore) proposes sale of 60 percent stake in Cosco Shipping (Singapore)

Katrina Group

Katrina Group warned Friday that it is expecting a material variance between its unaudited and audited results for 2021, resulting in a loss instead of a profit after tax of S$158,000.

“The expected potential material variance arose due to the receipt of invoices relating to newly recorded fixed assets which were not received by the finance team of the group’s subsidiary and therefore not recorded in the group’s accounts prior to the release of the unaudited results,” Katrina Group said in a filing to SGX. “These assets are subjected to impairment testing and consequently, the group will be making provisions for impairment of newly recorded fixed assets which would result in a loss for FY2021.”

The audited results for 2021 are expected to be published on or before 15 April, the company said.

China Haida

China Haida said Friday it has been notified by SGX that the company will be delisted on 14 April.

“Physical share certificates representing the relevant shares will be despatched by ordinary mail to the shareholders based on their addresses reflected in CDP’s depository register,” the company said in a filing to SGX.

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