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Grand Banks wins finance award

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Grand Banks Yachts received the Best Investor Relations Award for a small-cap company in the inaugural Singapore Corporate Awards. Grand Banks is listed on the Singapore exchange as SGX. The company builds yachts under the Grand Banks, Palm Beach and Eastbay brands.

Grand Banks won the Gold award in the Small Cap category, which was open to all listed companies with market capitalization of less than $300 million as of Dec. 31, 2017. The award recognizes Grand Banks’ commitment to best practices in investor relations. The nominees were screened based on Singapore Governance and Transparency Index scores, as well as the responsiveness of IR contacts. The short list included criteria such as positive news developments and timely, quality financial information.

Grand Banks CEO Mark Richards collected the award from Minister Ng Chee Meng, Secretary-General of the National Trades Union Congress. “We will work hard to uphold our good standing as a company by continuing to regularly engage analysts, investors and members of the public,” Richards said at the event.

Grand Banks’ net profit for the three months ended March 31, 2018, reached a nine-year high of S$1.9 million from a S$1.1 million loss in 3Q FY2017. Its market capitalization has grown approximately 20 percent since Jan. 1, 2017.

In other news, the group also completed the acquisition of the Stuart Service Yard in Florida, which has been renamed Stuart Yacht Basin.

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