Companies in brief

JARDINE STRATEGIC'S PROFIT UP 1% TO $2.2B

PROFITS at Jardine Strategic Holdings edged up 1 per cent to US$1.41 billion (S$2.16 billion) for the year ended Dec 31.

Revenue rose 46 per cent to US$12.85 billion as its property, retail and hotel management businesses grew strongly.

Earnings per share were flat at US$2.30. Net asset value per share was US$19.38, up from US$15.50. A dividend of 11.7 US cents per share has been proposed.

JARDINE MATHESON POSTS 8% INCOME GROWTH

JARDINE Matheson Holdings has recorded an 8 per cent increase in earnings to US$1.35 billion (S$2.07 billion).

Revenue for the year ended Dec 31 grew 36 per cent to US$16.28 billion.

Earnings per share were US$3.83, up from US$3.58. Net asset value per share was US$18.65, up from US$14.27. A dividend of 40 US cents per share has been proposed.

CDL BUYS CONDO IN WEST COAST FOR $132M

PROPERTY developer City Developments (CDL) is paying $131.5 million for Hong Leong Condominium in the West Coast.

About 370 new units can be built on the 956-year leasehold plot, which currently houses 180 units. Including a development charge of $23 million, the price for the condominium works out to $363 per sq ft per plot ratio.

OLAM BIDS UP TO $169M FOR AUSSIE COTTON FIRM

FARM produce distributor Olam International is attempting to take over an Australian cotton company for as much as A$142 million (S$168.5 million).

The locally listed company is offering to pay Queensland Cotton Holdings investors A$4.75 per share in cash, which would value the Australian firm at A$134 million. It will pay A$5.05 per share if it gets acceptances equivalent to at least 90 per cent of Queensland Cotton.

The offer has been unanimously recommended by Queensland Cotton's directors, all of whom intend to take up the offer.

HO BEE, IOI WIN SENTOSA PLOT WITH RECORD OFFER

PROPERTY developer Ho Bee Investment, together with Malaysian partner IOI Properties, has won the tender for a condominium site at Sentosa Cove with a record-breaking bid.

The two companies beat four other bids for the Seafront Collection site with a record offer of $1,361 per sq ft per plot ratio.

They will pay a total of $459.8 million for the 157,000 sq ft plot.