Suntec shines
Chang Yeh Hong, executive chairman of Nordic Group, has raised his stake in the company following improved earnings. On Aug 29, he acquired 113,000 shares at 48.5 cents each on the open market. This brings his total stake to 218.19 million shares or 54.58%, up from 54.56% previously. Earlier on Aug 26, he had acquired 60,000 shares at 49.6 cents each.
Nordic, the provider of project management and maintenance services, on Aug 5 announced that earnings for 1HFY2022 ended June were up 49% y-o-y to $11.6 million from $7.8 million. Revenue in the same period was up 62% y-o-y to $79.8 million, thanks to recent acquisitions by shooting range builder Starburst. As at June 30, Nordic has an order book of $232.7 million.
