Armstrong Industrial Corporation

[CityFarmer]

Q3 result announcement on 14 NOVEMBER 2012.

http://info.sgx.com/webcorannc.nsf/Annou...endocument

[CityFarmer]

The share price advances quite a bit in the last few trading days. A rising tide lifts all boats, including this boat (stock) i assume

[CityFarmer]

FY2012 result announced yesterday.

http://info.sgx.com/webcorannc.nsf/Annou...endocument

Summary:
A marginal increase of 0.9% year-on-year (yoy) in revenue to S$216.2 million. The increase of 61.0% yoy in net profit to S$11.5 million for the year ended 31 December 2012 was due to lower provision for impairment loss and S$2.6 million of insurance proceeds arising from the Thailand flood, as well as lower net fair value adjustment for derivative contracts.

Adjusting for exceptional items in FY11 and FY12, the Group’s normalized net profit would have been S$10.5 million in FY11 versus $6.4 million in FY12. Accordingly, the Group is declaring a first and final dividend of 0.6 cent.

Outlook:
According to iSuppli, an IT market intelligence firm, the global HDD market is expected to decline by 12% in 2013, putting downward pressure on HDD prices and operating margins. The China Automotive segment is expected to grow, albeit at a slower pace. With the ongoing disputes between China and Japan extending into 2013, the Group is cautious of the possible impact on its business as China-Japan trade is highly integrated into Asia’s supply chain.

[Contrarian]

Excellent management in a very tough business. So unfair for the management...

[Hongwei]

How did you determine that the management is excellent?

[a74henry]

Closely tie to IT and automotive industry. Who are their main customers?

[CityFarmer]

More public companies will move out from Singapore...

Acquisition of Properties at i-Park Indahpura, Johor Malaysia
In view of the rising rental costs and escalating foreign worker levies in Singapore, the Group is planning to move a majority of its operations in Singapore to Malaysia within the next three years.

The Properties will be used to consolidate the Singapore operations which will be moved to Malaysia with certain existing operations in Malaysia. Such consolidation is expected to facilitate better control and management of operations and resources

http://info.sgx.com/webcoranncatth.nsf/V...6001A5AE3/$file/Acqofproperties.pdf?openelement

[a74henry]

Singapore is going to face a hollowing out of its manufacturing sector if the Govt continues with its tight labour policy.

[heifien91]

Company is one of the market leaders in its own industry and there are rumours going around that it may be delisting. Any forummers can share news about this company and this industry? Seems to be in the same industry as the previous company Adampak which was privatised as well.

[lonewolf]

Holding Announcement

The Board of Directors (the “Board”) of Armstrong Industrial Corporation Limited (the “Company”) wishes to inform shareholders of the Company (“Shareholders”) that the Board had received a Non-Binding Indicative Proposal from a consortium involving the major shareholder of the Company that may result in the Delisting of the Company (the “Uncommitted Proposal”).

The terms of the Uncommitted Proposal are still being negotiated between the members of the consortium. The Uncommitted Proposal will be subject to certain conditions being complied with and no agreement between the Company and the consortium has been reached on any possible transaction as yet. The Company also wishes to advise that there had been speculations surrounding the abovementioned shareholder’s equity interest in the Company in the past, which did not result in any transaction or agreement being consummated. Therefore there is no certainty as to whether a possible transaction will take place pursuant to the Uncommitted Proposal.