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MTQ Corporation
04-07-2018, 06:04 PM. (This post was last modified: 04-07-2018, 06:04 PM by cfa.)
Post: #441
RE: MTQ Corporation
Chairman keep buying shares from open market , another 195,500 SHARES ACQUIRED on 02 July .
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“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.

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10-08-2018, 08:04 PM.
Post: #442
RE: MTQ Corporation
Proposed Acquisition of Business

MTQ Corporation Limited announced that the Company’s wholly-owned subsidiary, Mid-Continent Distribution Pte. Ltd. has, on 7 August 2018, entered into a conditional sale and purchase agreement with Mid-Continent Equipment Group Ltd ("Vendor") to acquire the Vendor’s business of supplying and distributing oilfield equipment and spares and the assets in relation thereto.

The Vendor is a 55.89% owned subsidiary of Magnus Energy Group Ltd., a company incorporated in Singapore and listed on the Catalist Board of the Singapore Exchange Securities Trading Limited.

The Company views the Proposed Acquisition as an opportunity to increase the scope and scale of its oilfield operations. The expansion of the Group’s products and service offering are complementary to the Group’s existing businesses.

The total price for the Business and Assets to be paid by Mid-Continent Distribution to the Vendor is US$1,000,000 comprising three (3) tranche of payments.

More details in
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31-10-2018, 06:49 PM.
Post: #443
RE: MTQ Corporation
Singapore, 31 October 2018 – SGX Mainboard-listed MTQ Corporation Limited (“MTQ” or “Group”), an established regional engineering, maintenance and subsea services group, reported today its results for the three months and six months ended 30 September 2018 (“2QFY2019” and “1HFY2019” respectively).  

 Better utilisation and job mix from Oilfield Engineering lifted margins resulting in decreased losses 
 Positive operating cash flows recorded in 2QFY2019
 In detailed discussions to reposition Neptune segment

The Group reported S$26.9 million overall revenue for 2QFY2019, a decrease of 12% yearon-year (“yoy”) largely due to lower revenue from Neptune segment. Oilfield Engineering segment, on the other hand, continued to experience growth with higher utilisation and better job mix. These boosted the Group’s gross profit margin for 2QFY2019 to 23.3% from 12.4% in the corresponding quarter a year ago. 

Together with a lower operation and staff cost base, the Group’s overall loss before tax narrowed from S$5.1 million in 2QFY2018 to S$2.0 million in 2QFY2019.

The Group recorded positive net cash flows of S$0.4 million from operations on the back of improved results in 2QFY2019. Within investing activities, the Group invested S$1.2 million in taking over Mid-Continent Equipment Group Pte Ltd (“MEG”)’s business in trading of oilfield equipment and spares as announced on SGXNET. Together with the quarterly repayment of a loan facility, the Group’s overall cash position was S$15.9 million as at 30 September 2018.
Outlook  :
Commenting on the financial results and outlook, Mr Kuah Boon Wee, Group Chief Executive Officer said,
“In 2QFY2019, we recorded our first positive operating cash flows in several quarters now. The outlook for recovery is encouraging and steady progress is expected. We will remain patient and continue to be focused on enhancing our business fundamentals to drive further operating improvements.  
At the same time, the Group is in continuous talks with potential stakeholders to explore opportunities to reposition the Neptune segment. We will look to provide more updates as it progresses at appropriate junctures.”

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31-10-2018, 10:18 PM.
Post: #444
RE: MTQ Corporation
PT Apexindo is a contract driller, with onshore and offshore drilling assets, operating in Indonesia. Its recent offshore customers include Pertamina -- the national oil company -- Petronas, Total, and Premier.

Its utilisation is as follows:

2013: 90%
2014: 85%
2015: 87%
2016: 42%
2017: 38%

It had an equity deficit of US$41m since FY17. The deficit has now increased to US$81m for 9m18. Apexindo may soon be one less potential customer for MTQ.

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03-11-2018, 12:15 PM. (This post was last modified: 03-11-2018, 12:17 PM by tonylim.)
Post: #445
RE: MTQ Corporation
OSV market to benefit from increasing tenders: Wintermar

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29-01-2019, 05:20 PM. (This post was last modified: 29-01-2019, 05:22 PM by Stocker.)
Post: #446
RE: MTQ Corporation

37% increase in revenue and improved margins lifted overall results
Positive operating cash flows were recorded in 3QFY2019

Singapore, 29 January 2019 – SGX Mainboard-listed MTQ Corporation Limited (“MTQ” or
“Group”), an established regional engineering, maintenance and subsea services group,
reported today its results for the three months and nine months ended 31 December 2018

Financial Review
The Group reported S$38.5 million revenue for 3QFY2019, an increase of 37% from
3QFY2018 as activities picked up from all segments within the Group. Correspondingly, gross
profit margin improved to 21.8% from 16.3% as a result of higher utilisation and better job mix.
The Group’s other operating expenses rose by 11% to S$4.2 million in 3QFY2019 mainly due
to higher professional fees and exchange losses incurred during the quarter. Staff costs,
however, decreased by 17% year-on-year due to absence of redundancy costs recorded in
the corresponding period a year ago.

Overall, the Group’s recorded a slight loss before tax of S$0.2 million, 96% lower than
3QFY2018 on the back of better performances across the Group

The Group recorded net cash inflows of S$0.8 million from operations for the quarter even
though working capital requirements were higher quarter-on-quarter. Taking into account cash
used in investing and financing activities, the Group’s ending cash and cash equivalents was
S$15.1 million as at 31 December 2018. Net gearing remained healthy at 8.8%.

Results & outlook
Commenting on the financial results and outlook, Mr Kuah Boon Wee, Group Chief Executive
Officer said,
“It is encouraging to see higher revenue recorded from all segments in 3QFY2019.
Improved sentiment in upstream development has led to higher levels of customer
orders in all segments. In particular, the Neptune segment, which suffered from lower
revenue in the first half of the financial year, registered good growth in this quarter. We
continue to explore options to strengthen our businesses.
Barring any unforeseen circumstances, we remain cautiously optimistic that the
current order levels will be sustainable. This will allow the Group to continue to make
steady progress.”

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07-02-2019, 08:31 AM.
Post: #447
RE: MTQ Corporation
Hrm... no updates about the repositioning of NMS?

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13-05-2019, 05:55 PM.
Post: #448
RE: MTQ Corporation
MTQ Group recorded profitable 4QFY2019  
 Quarterly and full-year revenue increased by 83% and 17% respectively   Profit of S$0.9 million recorded in 4QFY2019  Stronger operating cash flows further strengthens financial position

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