A-Smart Holdings (formerly: Xpress Holdings)

[propertyinvestor]

Xpress Holdings, a dotcom firm turned printer, plans to expand in Vietnam to tap demand from the country's growing financial sector for services, company officials told Reuters.

The expansion will involve setting up "print stations" in Hanoi and Ho Chi Minh City where customers can get help with design and translation, as well as a network of printers to speed up the printing and delivery process.

"We've been there 4 months and we are already seeing huge demand for our core financial services - annual reports, corporate profiles, IPOs," executive director Poh Eng Seng said in an interview.

"On the 2 stock exchanges, there are already 200 companies. Another 400 to 500 are on the waiting list," Poh added. Xpress, which derives about 53% of its revenues from China, focuses on printing time-sensitive documents such as prospectuses for initial public offerings and stockbrokers' research reports.

Its business model involves "print stations" in the business districts to be closer to customers. These outlets can electronically transmit proofs to Xpress' S'pore headquarters, which then arranges for printing to be carried out at plants near the intended recipients to shorten delivery time.

For large customers such as UBS and Merrill Lynch, Xpress provides staff and machinery on site to help with design and transmission of the finished report to the printers.

Xpress, with a market cap of US$128 million, reported a 43% rise in net profit in its fiscal year ended Jul 31. Its share price has, however, fallen 20% since the start of the year.

K.K. Fong, Xpress' founder and chief operating officer, declined to provide a forecast but said there was no reason why the company could not continue to maintain its double-digit growth rates.

Xpress, formerly known as i-One.Net, made its stock market debut in Jun '99 at the height of the dotcom craze. Its 1st day performance was one of the best in S'pore history as its shares rose more than fourfold. But its shares subsequently dived amid the dot.com crash.

Fong stepped down as CEO in '01 and was replaced by a new management team, which renamed the company Xpress and focused on the firm's core printing business.

"The internet burnt me and I will not go in anymore," Fong said.

[CityFarmer]

Profit warning from the company.

(not vested)

-------
The Board of Directors (the “Board”) of Xpress Holdings Ltd. (the “Company”, and together
with its subsidiaries, collectively the “Group”) wishes to announce that based on preliminary
review of the Group’s unaudited financial results for the financial year ended 31 July 2014
(“FY2014”), the Board would like to inform the shareholders that the Group is expected to
report a significant net loss for FY2014.
...
http://infopub.sgx.com/FileOpen/Xpress%2...eID=315023

[greengiraffe]

http://www.businesstimes.com.sg/premium/...s-20140919

PUBLISHED SEPTEMBER 19, 2014
Xpress unit in tie-ups with UPS Singapore, SF Express
BYANITA GABRIEL
anitag@sph.com.sg @AnitaGabrielBT

XPRESS Holdings has inked a pact with logistics companies United Parcel Service (UPS) Singapore and China's SF Express to add new services - including value-added documentation services such as completion of airway bills, shipment invoices and tracking services - under its belt.
In an announcement to the Singapore Exchange (SGX) on Thursday, Xpress Holdings said that the collaborations between the logistics players and its wholly owned subsidiary Xpress New Media (XNM) will enhance the latter's end-to-end business services for its clients. The new services will be provided right up to delivery at its 8-8 Biz Butler outlets and its flagship outlet in the Central Business District.
"It will not only provide customers with greater convenience for their logistical needs but it can extend its services to more customers - especially retail customers - who have greater need for international delivery solutions," said Xpress.
Xpress, listed on the SGX mainboard, has also sealed reseller arrangements with selected branded suppliers for a wide range of corporate gifts and premiums to allow clients to customise packaging of gifts for corporate functions.

[CityFarmer]

The current MC of the company is S$22 million @ price of 0.9 cent. A impairment of $142 million, is definitely very damaging to the company...

(not vested)

Impairment charges leave Xpress Holdings with $145.7-million loss

SINGAPORE (Nov 30): Xpress Holdings ( Financial Dashboard), which was recently sued by several creditors for failing to repay its loans, has incurred a full-year net loss of $145.7 million, hurt by huge one-off impairment charges.

The printing company, whose key markets are Singapore and China, achieved earnings of $2.7 million in the previous year, which ended on July 31, 2013.

The bulk of the impairment loss - $142 million - was recognised in the July quarter and involved goodwill, trade and project receivables, available-for-sale financial assets, inventories and equipment.

Revenue for the full year fell 24.7% to $17.9 million.
...
http://www.theedgemarkets.com/sg/article...llion-loss

[greengiraffe]

This stock started from the bubble era and has not regained its footing... suddenly can remember its sexy name during the dot.gone era...

I remember the super salesman owner - KK Fong

Odd Lots Vested
GG

The current MC of the company is S$22 million @ price of 0.9 cent. A impairment of $142 million, is definitely very damaging to the company...

(not vested)

Impairment charges leave Xpress Holdings with $145.7-million loss

SINGAPORE (Nov 30): Xpress Holdings ( Financial Dashboard), which was recently sued by several creditors for failing to repay its loans, has incurred a full-year net loss of $145.7 million, hurt by huge one-off impairment charges.

The printing company, whose key markets are Singapore and China, achieved earnings of $2.7 million in the previous year, which ended on July 31, 2013.

The bulk of the impairment loss - $142 million - was recognised in the July quarter and involved goodwill, trade and project receivables, available-for-sale financial assets, inventories and equipment.

Revenue for the full year fell 24.7% to $17.9 million.
...
http://www.theedgemarkets.com/sg/article...llion-loss

[Alaraph]

i-One.Net

[quote='greengiraffe' pid='101859' dateline='1417358837']
This stock started from the bubble era and has not regained its footing... suddenly can remember its sexy name during the dot.gone era...

[kelvesy]

That's why I am always very careful about how goodwill comes about and the quality of huge trade receivables. These can be assets that aren't worth their values and hence, valuations is a bit harder. I will just avoid to be safe.

[greengiraffe]

yeah... i-One in Hokkien...

Its a I Want stock at IPO then for those who held it till today was a i-One (Hokkien - Regrettable) stock...

Odd Lots Vested
GG

i-One.Net

[quote='greengiraffe' pid='101859' dateline='1417358837']
This stock started from the bubble era and has not regained its footing... suddenly can remember its sexy name during the dot.gone era...

[specuvestor]

Also instructive to compare i-One concept with AXS machines... executions counts. It is always interesting to me to compare winners and failures, not just one side of the coin... and see what was the difference

[CityFarmer]

The company financial is ugly...

Xpress Holdings to get new owner after cash call to raise over $23 million

SINGAPORE (Dec 6): Xpress Holdings ( Financial Dashboard), which is facing a winding-up application filed by United Overseas Bank ( Financial Dashboard), is seeking to raise more than $23 million to repay debt and fund growth through acquisitions.

The printing company and its founder, Fong Kah Yuen, have inked a non-binding memorandum of understanding with Ma Wei Dong, chairman of Kunming LuChen Group, for the fundraising exercise.

Kunming LuChen is a maker and distributor of sauces and condiments in China.

Xpress will issue 1.1 billion new shares to Ma at 0.7 cent apiece.

This will raise $7.7 million and give Ma 31% of the company. He is seeking consent from the Securities Industry Council to be exempted from having to make a mandatory general offer for Xpress.

Each subscription share comes with two free detachable warrants. Every warrant entitles the holder to subscribe for a new Xpress share at an exercise price of 0.7 cent.

The warrants expire five years from the date of issue.

If all the warrants are exercised, Xpress will issue 2.2 billion new shares to the investor and receive over $23 million in proceeds.

The investor will end up with 57.4% of the company.

As part of the fundraising agreement, Ma will grant an interest-free loan of RMB10 million ($2 million) to Xpress. Half of the amount has already been disbursed.

Fong and his wife have pledged a property, currently mortgaged to Bank of East Asia, as collateral for the loan. They will execute another mortgage agreement to grant Ma a charge over the property.

Xpress said in July that several creditors had taken legal action to recover a total of $2.4 million.

It has since reached settlement agreements with all of them except UOB, which is seeking to recover $1.2 million.

A winding-up application by UOB has been adjourned to Jan 28 next year.

Xpress last month reported a net loss of $145.7 million for the full year ended July 31, hurt by one-off impairment charges involving goodwill, trade and project receivables, available-for-sale financial assets, inventories and equipment.

Revenue for the year fell 24.7% to $17.9 million.
http://www.theedgemarkets.com/sg/article...23-million