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AR 2016 is out:
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http://infopub.sgx.com/FileOpen/20170417...eID=448574
New Factory and Office Building
This year marks a new chapter for AEI, as the Group moved into
its new factory and office building located at Tuas South Street
13 in end January 2017. The new factory is built on a smaller site,
but with the purpose-built layout, it should allow us to operate at
good efficiency to achieve good productivity and optimal resource
utilization. The relocation was carried out successfully without
major disruption to the daily business and operation of the Group.
We look forward to continue to serve our customers and business
partners from this new factory site.
...
12. PROPERTY, PLANT AND EQUIPMENT
The buildings and improvements for the industrial buildings at Penjuru Lane are stated at Directors’ valuation at 31 December 2016.
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I guess shareholders would be very interested in their plans for the older & bigger property @ 12 Penjuru Lane, which probably has a longer lease left than the new Tuas South property & having a market value that is very significant when compared to AEI's smallish market cap of 19mil.
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Think it is this listing on commercial guru asking 19.8 mil for 12 Penjuru Lane:
http://www.commercialguru.com.sg/listing...njuru-lane
For comparison, google street view:
https://www.google.com.sg/maps/@1.308493...36!6m1!1e1
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Even though we are given a range, but let's assume the top 2 directors are paid $600K per year and the other 3 directors are paid $200K per year each.
The top 5 employees are paid a total of around $870K per year.
These 10 staff are taking a salary of $2.67 million in Y2016 and revenue from continuing operations is only slightly above $12 million.
And the gross profit margin is 1.7%!!!!
Go figure!
There are no good stocks. Stocks are only good when they go up after you bought them.
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50 mil? Seems quite big amount for its current size...
http://infopub.sgx.com/FileOpen/AEI_Ann_...eID=466123
(I) ENTRY INTO S$50,000,000 SUBSCRIPTION AGREEMENT – THE PROPOSED
ALLOTMENT AND ISSUANCE OF UP TO 62,500,000 SHARES AT AN ISSUE PRICE OF
S$0.80 PER SHARE
(II) PROPOSED BONUS ISSUE OF UP TO 27,119,659 FREE WARRANTS, EACH WARRANT
CARRYING THE RIGHT TO SUBSCRIBE FOR ONE (1) NEW ORDINARY SHARE IN THE
CAPITAL OF THE COMPANY AT AN EXERCISE PRICE OF S$1.00 FOR EACH NEW
SHARE AND ON THE BASIS OF ONE (1) WARRANT FOR EVERY ONE (1) EXISTING
ORDINARY SHARES HELD BY THE SHAREHOLDERS OF THE COMPANY AS AT THE
BOOKS CLOSURE DATE
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Seems like the following likely to happen when Capital Impetus Group (CIG) takes over:
http://www.cigasset.com/products/asset-m...te-equity/
M&A Fund
CIG M&A Fund invests into listed companies by acquiring placement shares issued by the companies to become the majority shareholder. The listco subsequently either acquires promising businesses/assets, or inject businesses/assets through reversed take overs.
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http://infopub.sgx.com/FileOpen/20171110...eID=477988
(I) S$50,000,000 SUBSCRIPTION AGREEMENT – THE PROPOSED ALLOTMENT AND
ISSUANCE OF UP TO 62,500,000 SHARES AT AN ISSUE PRICE OF S$0.80 PER SHARE
– SUPPLEMENTAL AGREEMENT
– RECEIPT OF APPROVAL-IN-PRINCIPLE FROM SGX-ST
(II) PROPOSED BONUS ISSUE OF UP TO 27,119,659 FREE WARRANTS, EACH WARRANT
CARRYING THE RIGHT TO SUBSCRIBE FOR ONE (1) NEW ORDINARY SHARE IN THE
CAPITAL OF THE COMPANY AT AN EXERCISE PRICE OF S$1.00 FOR EACH NEW
SHARE AND ON THE BASIS OF ONE (1) WARRANT FOR EVERY ONE (1) EXISTING
ORDINARY SHARE HELD BY THE SHAREHOLDERS OF THE COMPANY AS AT THE
BOOKS CLOSURE DATE
– RECEIPT OF APPROVAL-IN-PRINCIPLE FROM SGX-ST
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FY17 results came out yesterday:
http://infopub.sgx.com/FileOpen/20180226...eID=490120
It seems AEI would be emerging from a low base post RTO:
¹ Based on the valuation carried out by Asia Valuation & Advisory Services Pte Ltd as at 31 December 2017, a fair value
assessment loss of $5.6 million in relation to the Group's buildings was taken into account. Out of $5.6 million assessment
loss, $4.0 million was charged to Other Operating Expenses and the balance of $1.6 million was offset against Asset
Revaluation Reserve, net of deferred taxation adjustment.
² A valuation gain of $11 million on the Penjuru Land Lease and a valuation gain of $0.8 million gain on the Tuas Land
Lease were both not reflected in the Financial Statement in accordance to the prevailing Financial Accounting Standards.
...
In connection with the proposed subscription, the Company expects to hold the extraordinary general meeting for shareholders to approve the same on or around 27 March 2018.
...
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Circular for the RTO, funny that Eucon is one of the comparison coy:
http://infopub.sgx.com/FileOpen/20180312...eID=492311
...
The Board understands from the Subscriber that on Tranche 1 Completion and subject to
the resolution for the Proposed Diversification being approved by Shareholders, the new
board of directors and management of the Company will actively look for potential
investment opportunities by way of acquisition or otherwise in the Infrastructure Business.
Please see Section 5.7 for the Subscriber’s intentions with respect to the board
composition and senior management of the Company upon Tranche 1 Completion.
As and when the opportunities arise, upon satisfaction of the relevant due diligence
investigation, the Company will enter into definitive documentation in order to implement
its investment in the Infrastructure Business subsequent to Tranche 1 Completion. The
Subscriber is in the midst of sourcing potential infrastructure assets that may be suitable
for acquisition by the Company. As at the Latest Practicable Date, the Subscriber has
informed the Company that it has identified a controlling stake in an operational and
profitable airport which is available for sale. For the avoidance of doubt, the Subscriber
has not committed to any concrete investment plans and as such, the proposed acquisition
of the said airport may not necessarily materialise. In addition, the Subscriber will not rule
out the possibilities to bring in other strategic partners/investors to participate in the future
projects to be identified in relation to the Infrastructure Business that the Group intends to
engage in.
...
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COMPLETION OF TRANCHE 1 SUBSCRIPTION
http://infopub.sgx.com/FileOpen/20180427...eID=501990
...
(a) the Company has allotted and issued to the Subscriber 28,750,000 Tranche 1 Subscription Shares, at an issue price of S$0.80 per Share;
(b) the Company has allotted and issued to the Introducer 862,500 Tranche 1 Introducer Shares, at an issue price of S$0.80 per Share, credited as fully paid-up; and
© the total number of issued and paid-up shares in the share capital of the Company (excluding 1,000,000 treasury shares) has increased from 27,119,659 Shares to 56,732,159 Shares.
...
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PROPOSED BONUS WARRANTS ISSUE OF UP TO 27,119,659 FREE WARRANTS, EACH WARRANT CARRYING THE RIGHT TO SUBSCRIBE FOR ONE (1) NEW ORDINARY SHARE IN THE CAPITAL OF THE COMPANY AT AN EXERCISE PRICE OF S$1.00 FOR EACH WARRANT SHARE AND ON THE BASIS OF ONE (1) FREE WARRANT FOR EVERY ONE (1) EXISTING ORDINARY SHARE HELD BY THE SHAREHOLDERS OF THE COMPANY AS AT THE BOOKS CLOSURE DATE
http://infopub.sgx.com/FileOpen/20180525...eID=507573
...
The Board wishes to announce that 27,119,659 Bonus Warrants have been credited on 25 May 2018
pursuant to the Proposed Bonus Warrants Issue. The Bonus Warrants will be listed and quoted on the
Mainboard of the SGX-ST on or around 28 May 2018.
...
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