Wellspire's (KLSE:WELLS) said a strategic cooperation agreement between its unit, Wellspire Global Trading, and confectionery maker Khee San Food Industries will expire on Aug. 22 and will not be renewed, according to a Thursday Bursa Malaysia filing.
Both parties have decided against extending the three-year deal due to prevailing market conditions for candy products in Thailand.
Fitch Ratings affirmed Petrovietnam Refining and Petrochemical's (HOSE:BSR) long-term issuer default rating at BB+, with a stable outlook.Fitch said the company's standalone credit profile of bb- reflects its strong market position and robust financial profile, partly offset by the small scale and below-average complexity of its Dung Quat refinery.The agency expects the company's refinery upgrade and expansion to raise capacity by 15% to 171,000 barrels per day.Fitch expects Petrovietnam Refining and Petrochemical to remain in a net cash position over the next two to three years despite rising capex during construction.The rating could be downgraded if PVN's rating falls or its incentives to support BSR weaken, while an upgrade would depend on a higher PVN rating with support incentives intact.
Beijing Kingsoft Office Software (SHA:688111) posted first-half attributable net profit of 2.52 billion yuan, up 237% from 747.2 million yuan the previous year.Earnings per share rose to 5.41 yuan from 1.61 yuan, according to a Thursday filing with the Shanghai bourse.Revenue climbed 25% year over year to 3.31 billion yuan from 2.66 billion yuan.
Bank of Ningbo's (SHE:002142) net profit attributable to shareholders in the first half rose 12% to 16.6 billion yuan from 14.8 billion yuan a year earlier, according to a Shenzhen bourse filing on Thursday.Earnings per share increased year on year to 2.51 yuan from 2.24 yuan.Operating revenue also climbed 12% to 41.5 billion yuan from 37.2 billion yuan in the prior year.The lender said it will distribute a cash dividend of 4 yuan for every ten shares to registered shareholders.The company's shares rose 3% during the morning trade.