SMJ International Holdings Ltd. said its normalized net income for the first half amounted to S$15,630, a decline of 96.3% from S$418,130 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue declined 18.4% year over year to S$7.7 million from S$9.4 million, and total operating expenses decreased 11.6% from the prior-year period to S$7.8 million from S$8.8 million.

Reported net income totaled a loss of S$59,000, or a loss of 0 cents per share, compared to income of S$547,000, or 1 cents per share, in the prior-year period.

As of July 29, US$1 was equivalent to S$1.34.