Ecowise Holdings

The proposed disposal is expected to strengthen the cash position, improve liquidity of ecoWise.

According to ecoWise, the property is unused and its disposal will strengthen the group’s cash position and improve its liquidity.

The company has since requested for a trading halt pending the release of an announcement.

The disposal has netted ecoWise a gain of $1.6 million.

As at end July, cash and cash equivalents stood at $1.98 million, while earnings per share came in at 0.09 cent, compared to a loss of 0.23 cent per share a year ago.  In its outlook statement, ecoWise says that it is in the midst of rationalising and

SINGAPORE (Mar 29): ecoWise Holdings — whose other businesses include a biofuel plant at Gardens by the Bay and a tyre treading business — is planning to go into the fish feed production business via a joint venture.

SINGAPORE (Mar 19): ecoWise Holdings narrowed its net losses to $952,000 in 1Q18 from $1.1 million in 1Q17 as share of losses from associates and JVs fell 91.8% to $46,000, mainly incurred by Chongqing eco-CTIG Rubber Technology.

SINGAPORE (Sept 14): ecoWise Holdings saw 3Q17 losses widen to $154,000 from $13,000 a year ago, led by higher cost of sales, share of losses from associates and jointly-controlled entities and administrative expenses.

SINGAPORE (March 15): ecoWise Holdings is disposing its 15% equity interest in JVCo. Chongqing Zhongtian Electronic Waste Management Co. (CZEW) for RMB5 million ($1 million).

SINGAPORE (Dec 30): EcoWise Holdings reported a loss of $1.8 million for FY16, compared to a net profit of $0.9 million a year ago.