AGV Group

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#1
AGV Group Secures New Contracts to Galvanize Nearly 29,000 Tonnes of Steel and Iron
* AGV clinches new projects weighing 15,000 tonnes in Singapore
* Associate in Malaysia secures almost 14,000 tonnes

AGV Group is a leading provider of hot-dip galvanizing services in Singapore. Helmed by its two founders, Albert Ang and James Ang, who have over 30 years of industry experience collectively, the group has been profitable since starting operations in 2012.

At the centre of the Group’s operations is its fully equipped S$16 million plant that sits on approximately 11,000 square metres of land. It is strategically located in the heart of Singapore’s Tuas heavy industry district, close to most of its customers or companies in the steel or iron fabrication markets. The plant operates round-the-clock throughout the year with the capacity to handle up to 5,000 tonnes of hot dip galvanizing each month.

The Group serves over 900 clients from diverse sectors.

Number of shares as at 15 December 2016 = 125,946,440 shares, and top twenty largest shareholders hold 89.01% of the shares.

For more information : 
1. visit www.agvgroup.com.sg
2. see http://infopub.sgx.com/FileOpen/AGV%20Gr...eID=434482
Specuvestor: Asset - Business - Structure.
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#2
AGV borrows $1m at 15% p.a.. Lender has the right to convert debt into shares at 95% of last 14 days VWAP. Looking at the trend of the share price, the conversion could potentially add between 6-8% more shares. Looks like a bad deal for AGV shareholders.

http://infopub.sgx.com/FileOpen/SGX%20An...eID=479238

But I suppose they are running short on options. AGV expects to announce a loss for FY17. HY17 shows $12m of debt against $10.8m of equity. There has also been several substantial shareholders transferring their shares to nominee accounts; are these shares pledged for loans?

http://infopub.sgx.com/FileOpen/AGV%20An...eID=478228

http://infopub.sgx.com/FileOpen/AGV%201H...eID=453147

AGV was only listed a year ago...
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#3
Not much cash left in the till. CL is twice of CA. FCF is negative.

Share price now is about half from IPO, but half is better than none.

http://infopub.sgx.com/FileOpen/SGX%20An...eID=486720
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#4
Time extended. New shares comprising 12.5% of the enlarged share capital is placed out for almost half of IPO price. Approximately $2m will be raised.

http://infopub.sgx.com/FileOpen/Announce...eID=488381
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