Companies in brief

NIDEC'S BID FOR BRILLIANT GETS NOD

JAPANESE hard disk component maker Nidec looks set to take up an 87 per cent stake in Brilliant Manufacturing.

Nidec is buying the stake from existing Brilliant shareholders, including the local company's founding family, who are selling a combined stake of 53 per cent.

The offer by the Japanese firm was made last November and closed yesterday at 3.30pm.

UOL'S GAINS TREBLE TO $339M

PROFIT at UOL Group more than trebled to $339.4 million on one-off gains from the sale of two subsidiaries.

The sale of UOL's 50 per cent interest in Clifford Development and the sale of Hotel Grand Plaza boosted the bottom line by $232.8 million.

Revenue for the year ended Dec 31 rose 20 per cent to $605.1 million.

Earnings per share were 42.75 cents, up from 12.62 cents. Net asset value per share was $3.97, up from $2.98 as at Dec 31, 2005.

A final dividend of 7.5 cents per share and a special dividend of 7.5 cents per share have been declared.

IPC SLIPS INTO RED WITH $3M LOSS

IPC said yesterday that it incurred a full-year net loss of $3.3 million, reversing a net profit of $8.6 million previously.

In the year ended Dec 31, the education and information technology specialist in Asia saw revenue slipping 20.1 per cent to $32.2 million.

Loss per share was 0.62 cent, compared to earnings per share of 1.62 cents previously, while net asset value per share fell to 27.07 cents from 28.34 cents.

A first and final dividend of 0.25 cent per share was proposed, unchanged from previously.

ACE DYNAMICS PLANS WARRANTS ISSUE

INDUSTRIAL equipment and hardware distributor Ace Dynamics announced yesterday that it is issuing up to 28.2 million bonus warrants.

One warrant is being issued for every five existing shares held by shareholders.

The exercise prices of 20 cents and 25 cents apiece - depending on when they are exercised - represent a discount of about 42 per cent and 28 per cent respectively, to yesterday's closing price of 34.5 cents.

The gross proceeds from the exercise are estimated to range from $5.6 million to $7 million.

The money will be used for capital expenditure and business expansion plans.