SINGAPORE (March 14): Biscuit manufacturer Khong Guan reported 1H18 earnings of S$0.8 million for the half year ended Jan 2018, up eightfold from S$95,000 a year ago on lower costs and other expenses.

Revenue grew 0.25% to S$28.8 million from S$28.7 million in 1H17, with the modest increase attributed to an improvement in the turnover of the group’s Swee Hin Chan (SHC) operations in Penang.

This was however offset in part by a decline in turnover from Tong Guan Food Products (TGF), Khong Guan’s trading subsidiary in Sabah. The group highlights that while TGF continued to do well in the sales of its biscuits and non-edible goods, the restriction of sales quota on edible oil and termination of a distributorship by a food and beverage (F&B) company had slightly affected the sales of edible goods... (Click here to read the full story.)