Bonvests Holdings Limited Proposes First and Final 1-Tier Tax Exempt Cash Dividend for the Year Ended December 31, 2014, Payable on May 20, 2015; Announces Unaudited Consolidated Earnings Results for the Year Ended December 31, 2014
February 25, 2015 at 05:33 am EST
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Bonvests Holdings Limited proposed a first and final 1-tier tax exempt cash dividend of 1.60 cents per share for the year ended December 31, 2014. The first & final (1-tier tax exempt) dividend will be paid on May 20, 2015, subject to the approval of shareholders at the upcoming Annual General Meeting. The company paid a dividend of 1.50 cents per share 1-tier tax exempt for the year ended December 31, 2014.
The company announced unaudited consolidated earnings results for the year ended December 31, 2014. For the period, the company reported revenue of SGD 196,711,000 compared to SGD 183,965,000 a year ago. Increase in revenue was due mainly to higher revenue from the Hotel, Industrial and Property - Rental Divisions. Profit from operations was SGD 46,221,000 compared to SGD 65,447,000 a year ago. Profit before taxation was SGD 43,965,000 compared to SGD 63,315,000 a year ago. This was due mainly to lower revaluation gain on investment properties, foreign exchange losses and lower contributions from the Investment Division, partially offset by higher contributions from the Hotel, Industrial and Property- Rental Division. Profit attributable to equity holders of the company was SGD 34,249,000 or 8.516 cents per basic and diluted share compared to SGD 56,228,000 or 13.981 cents per basic and diluted share a year ago. Net cash generated from operating activities was SGD 45,186,000 compared to SGD 36,980,000 a year ago. Purchase of property, plant and equipment was SGD 24,162,000 compared to SGD 14,034,000 a year ago.
Bonvests Holdings Limited is a Singapore-based investment holding company. The Company's segments include Rental, Hotel, Industrial, Investment, Development and Others. The Rental segment comprises the owning and letting of properties. The Hotel segment includes development and operation of hotels and a golf course. The Industrial segment includes activities that cover waste collection and disposal and contract cleaning. The Investment segment comprises activities related to securities trading and investment holding. The Development segment includes the development of properties. The Others segment includes the provision of management services and the operation of restaurants. The Company's hotels include The Residence by Cenizaro brand; Sheraton Towers Singapore Hotel; Four Points by Sheraton Perth, Australia, and La Maison Arabe and Riad Elegancia, Marrakech in Morocco. The Residence by Cenizaro hotels and resorts are located in Tunis, Mauritius, Zanzibar, Maldives and Bintan.
Bonvests Holdings Limited Proposes First and Final 1-Tier Tax Exempt Cash Dividend for the Year Ended December 31, 2014, Payable on May 20, 2015; Announces Unaudited Consolidated Earnings Results for the Year Ended December 31, 2014