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Sales Orders Received and Financial Guidance for FY2019
The Company announced that as of 25 July 2019, it has received sales orders worth S$255 million for delivery in FY2019. In terms of financial guidance for FY2019, management is revising upwards the revenue range to be between S$265 million and S$280 million, and our CAPEX range remains at S$4 million to S$7 million.
Specuvestor: Asset - Business - Structure.
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Exited last Friday @ 1.48. Today @ 1.76.
There are daily acquisitions from Morgan Stanley, MUFG, UBS etc. Is there a concerted attempt by a third party using these as proxies?
You can count on the greed of man for the next recession to happen.
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Sales Orders Received and Financial Guidance for the Full Year Ending 31 December 2020
The Company announced that as at 7 January 2020, it has received sales orders worth S$245 million for delivery in FY2020. Based on the sales orders received so far and the business outlook going forward, the Group expects FY2020 revenue to be between S$330 million to S$350 million, and CAPEX to be about S$4 million.
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06-08-2021, 08:53 AM
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06-08-2021, 08:59 AM
AEM@409
Halted.
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03-01-2022, 09:54 AM
(This post was last modified: 03-01-2022, 09:55 AM by weijian.)
Prof Mak probably gonna frown at this. But from past experience, capitalists with deep "skin in the game" has higher tendency to act more independently (for OPMIs) than those who do not have much money (besides fees) nor reputation to lose.
AEM's non-exec, non-independent director redesignated to lead ID as stake gets 'diluted to below 5%'
AEM HOLDINGS (AEM) on Jan 1 (Saturday) announced that it has recommended the redesignation of non-executive and non-independent director James Toh, 57, to lead independent director with effect from Jan 1, as his stake in the company has been diluted to below 5 per cent, as well as his "independence".
To recap, on Aug 31, AEM announced the completion of the allotment of 26.8 million shares to Venezio Investments, giving Venezio a stake of 8.68 per cent in the company. This has diluted the stakes of other shareholders such as Toh.
https://www.businesstimes.com.sg/compani...stake-gets
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15-10-2022, 09:04 AM
(This post was last modified: 15-10-2022, 09:05 AM by weijian.)
Revenue guidance on the local market is rare (although it is very common in the foreign markets like the US). As an OPMI, I do not prefer revenue guidance as more information facilities a more efficient market, and hence detrimental to me.
As everyone already knows, the semiconductor market's outlook has sharply turned around in the last 6 months. 6 months ago, things were rosy and everyone (including our own BlueKelah) were expecting it to continue in the foreseeable near future.
Nonetheless, It is interesting to see a revenue revision upwards in the midst of all these bad news. Searching back AEM's announcements, it has been littered with revenue/financial guidance throughout and so this particular revenue revision announcement does not seem to follow any pattern.
REVISION OF REVENUE GUIDANCE FOR THE FULL YEAR ENDING 31 DECEMBER 2022 (“FY2022”)
The board of directors of AEM Holdings Ltd (the “Company”, and together with its subsidiaries, the “Group”) is pleased to announce that based on the current business outlook, the Group has revised its FY2022 revenue guidance upwards to between S$820 million and S$850 million. . The revised revenue guidance is a result of increased demand from new and existing customers.
https://links.sgx.com/FileOpen/FY2022%20...eID=734409
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INTERNAL STOCK-TAKING EXERCISE – SHORTFALL IN INVENTORIES
https://links.sgx.com/FileOpen/SGX%20Ann...eID=782896
The Board of Directors (the “Board”) of AEM Holdings Ltd. (the “Company” or “AEM”, and together with
its subsidiaries, the “Group”) wishes to announce that a shortfall in the Group’s inventories has been
uncovered as a result of its year-end 2023 internal stock-taking exercise.
The Board refers to the AEM Investor Update dated 9 November 2023, in which it was stated that the
Group’s inventories as at end September 2023 was S$358.6 million. While the internal stock-taking
exercise has not yet concluded and is presently still on-going and taking into account the ordinary and
usual course of inventory movement, the preliminary estimate suggests that the Group’s inventories are
anticipated to be between 5% to 7% lower than the September 2023 figure that was previously
announced in the AEM Investor Update dated 9 November 2023. The initial investigation into this issue
attributes the shortfall to human error in transactions with the Group’s ERP system during the migration
of production to the Group’s Penang facility from Singapore. These errors were not detected by the
existing controls and processes that are in place. As a result of the Company’s initial findings, it has
embarked on a process to review its inventory and stock monitoring and tracking processes and systems.
The Company anticipates that the shortfall will have a negative impact on the Group’s profitability for the
year ending 31 December 2023. The Company will issue its unaudited condensed interim financial
statements for the full year ending 31 December 2023, which the Company is required under Rule 705
of the Listing Manual to announce on or before 29 February 2024.
For clarity, the internal stock-taking exercise was an internal exercise undertaken by the Group and is
not part of the audit of the Company’s accounts by the external auditors of the Company.
Shareholders and potential investors of the Company are advised to read this announcement and any further announcements by the Company carefully. Shareholders and potential investors of the Company are advised to refrain from taking any action in respect of their shares in the Company which may be prejudicial to their interests, and to exercise caution in dealing in the shares of the Company. In the event of any doubt, shareholders and potential investors of the Company should consult their stockbrokers, bank managers, solicitors, accountants, or other professional advisers.
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23-01-2024, 01:16 PM
(This post was last modified: 23-01-2024, 01:18 PM by weijian.)
The inventories as of 1H23 is 365mil. A 18-25mil impairment of the inventories translate close to 6%, which is relatively substantial.
In general, AEM is 1 of those companies giving revenue guidance. Since there is no "cost guidance", this is probably nothing nefarious about it.
CLARIFICATION ON ANNOUNCEMENT OF INTERNAL STOCK-TAKING EXERCISE – SHORTFALL IN INVENTORIES
Per the Announcement, the inventory value and Profit Before Tax adjustments are estimated to be in the range of S$18 million to S$25 million. These adjustments apply only to the unaudited results for the year ended 31 December 2023 with no adjustments to prior year results being required. The Company, in consultation with its independent external auditors, has made a determination that the entirety of the S$18 million to S$25 million will be adjusted down in Q4 FY2023.
https://links.sgx.com/FileOpen/SGX%20Ann...eID=783532
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updated announcement (initial one got the year wrong):
https://links.sgx.com/FileOpen/SGX%20Ann...eID=783543
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