Sapphire Corporation

Sapphire Corp's 1Q earnings fall 16.6% to $0.7 mil as revenue declines, finance costs rise

Singapore (May 7): Sapphire Corporation announced earnings of RMB3.4 million ($0.7 million) for the 1Q ended March, down 16.6% on-year from RMB4 million on lower revenue and higher finance costs.

Revenue fell 2.2% to RMB297 million from RMB303.6 million in 1Q18 due to lower sales of railway sleepers during 1Q2019.

In line with the lower revenue, cost of sales declined 2.3% to RMB270.4 million over the quarter.

Sapphire subsidiary wins $167 mil EPC contract in Chengdu

SINGAPORE (Jan 14): Sapphire Corporation, the infrastructure design and construction group in China, announced that the group’s 97.6% owned subsidiary, Ranken Railway Construction Group Co, has secured a Engineering, Procurement and Construction (EPC) contract of RMB 832 million ($166.5 million) related to its PPP project in Chengdu.

Sapphire selling new shares at 12.8 cts each to fund water projects

SINGAPORE (Dec 31): Sapphire Corporation is undertaking a rights issue to raise funds to invest in water and environmental management projects and for working capital purposes.

Sapphire is selling up to 81.5 million new shares in the company at 12.8 cents each. The company expects to receive net proceeds of $9.98 million from the rights issue after deducting estimated expenses of $0.46 million.

The issue price represents a discount of 11.11% to the last transacted price of 14.4 cents per share on the eve of Christmas Day.

Sapphire’s subsidiary and consortium partners wins $277 mil PPP project in Chengdu

SINGAPORE (Nov 19): Sapphire Corporation’s 97.6% owned subsidiary, Ranken Railway Construction Group Co, and consortium partners have secured a PPP project in Chengdu, Sichuan Province, China.

The cost of this PPP project is estimated at RMB 1.4 billion ($277 million), where 20% of the cost will be funded by consortium partners who will together form a project company and the remaining 80% funded by project financing from financial institutions.

Sapphire Corp posts 1.9% rise in 1Q earnings to $0.9 mil despite lower margins

SINGAPORE (May 11): Sapphire Corp announced earnings of RMB4.1 million ($0.9 million), up 1.9% from RMB4 million a year ago due to higher revenue.

Revenue for the quarter grew 62.4% to RMB303.6 million from RMB188.1 in 1Q17 due to a surge in ongoing projects in China for the group’s core revenue driver, Ranken Infrastructure, in addition to higher sales of railway sleepers over the quarter.

Sapphire partners Haitong Singapore to explore regional finance & investment opportunities

SINGAPORE (Apr 25): Sapphire Corporation has inked a memorandum of understanding (MoU) with Haitong International Securities Group (Singapore) to explore capital markets opportunities in the region.

This will be conducted specifically in the fields of corporate finance and investment by leveraging on Haitong Singapore’s suite of financial services and geographical networks, says Sapphire in a filing on Wednesday.

Sapphire's new CEO remains positive on rail business outlook

SINGAPORE (Feb 12): Sapphire Corporation has recently appointed executive director Wang Heng as CEO of the group. She has today announced that the growth prospects of its core rail engineering business Ranken Railway Construction are intact despite the termination of a proposed transaction that would have resulted in a new substantial shareholder.

See: HNA-linked acquirer terminates purchase of stake in Sapphire Corp

HNA-linked acquirer terminates purchase of stake in Sapphire Corp

SINGAPORE (Jan 29): A Hong Kong-listed subsidiary of China’s HNA Group had terminated its acquisition of shares in SGX-listed Sapphire Corporation “by way of mutual consent”.

The Hong Kong company, Hong Kong International Construction Investment Management Group Co., had wanted to buy shares from two of Sapphire’s shareholders that would make it the largest shareholder with a combined stake of nearly 28%.

Sapphire unit wins 3 new rail contracts worth $57 mil

SINGAPORE (Dec 11): Sapphire Corporation’s subsidiary Ranken Railway Construction Group Co. has secured three new rail transit contracts in Chengdu, China worth a total of RMB 280 million ($57 million).

The main contracts, worth RMB 253 million, primarily involve the construction of two tunnels close to 3km long between Fuzhou Road Station and Xinglong Station, as well as certain open cut earthworks along the Chengdu Metro Line 18.

Sapphire posts 3Q earnings of $3.6 mil; directors to step down for board renewal in share-swap deal

SINGAPORE (Nov 13): Sapphire Corporation, the railway infrastructure engineering firm, has announced earnings of RMB17.6 million ($3.6 million) for the 3Q ended Sept, a 31.1% improvement from RMB13.4 million a year ago on higher revenue.

Revenue for the quarter grew 22.6% to RMB369.5 million from RMB301.4 million previously on the completion of its subsidiary Ranken Infrastructure Limited’s site preparation works and commencement of the construction phase of several recently secured projects, in addition to a higher number of ongoing projects in China.

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