consumer electronics

Smartphones nearly killed Memtech. Elon Musk brought it back

SINGAPORE (Mar 6): The rise of the smartphone almost broke Tze-Mon Chuang’s company -- Elon Musk provided its salvation.

Singapore-based Memtech International Ltd. has more than doubled its market value in the past year thanks to tie-ups with the likes of Tesla Inc. The manufacturer is a key supplier to Musk’s pioneering auto company, making plastic components for its battery packs.

Hi-P International swings back to profitability in 1Q with earnings of $8.4 mil

SINGAPORE (May 4): Hi-P International, the consumer electronics manufacturer, has announced $8.4 million in earnings for the 1Q ended March on a surge in gross profit, reversing from the $12.4 million loss recorded a year ago.

Revenue for the quarter fell 11.4% to $244.2 million from $275.6 million a year ago, as assembly products with fewer component content were sold over the quarter compared to the previous year.

Despite the lower revenue, gross profit doubled to $33.4 million from $16.7 million, boosting gross profit margin to 13.7% from 6.1% in 1Q16.

A closer look at Spindex’s buyout battle

SINGAPORE (Feb 24): There has been a spate of buying at Spindex Industries by an individual who emerged as a substantial shareholder in the company, immediately after Spindex’s management announced its buyout plan.

On Feb 9, the company’s chairman Tan Choo Pie @ Tan Chang Chai offered to privatise and delist Spindex via a scheme of arrangement. The offerer is Hong Wei Holdings, a special- purpose vehicle owned by Tan, his wife and their son Heok Ting, who is managing director of Spindex, a manufacturer of precision components.

Valuetronics rides IoT megatrend, connected cars

SINGAPORE (Nov 8): UOB KayHian and CIMB are sticking to their “add” calls for Valuetronics as they expect the group to continue riding the Internet of Things (IoT) megatrend in the consumer electronics (CE) segment and take on more automotive projects in the industrial and commercial electronics (ICE) segment.

Meanwhile, RHB is hanging on to its “neutral” call.

Growth on the horizon for Fu Yu Corp after 3-year decline

Fu Yu Corp logo

SINGAPORE (Sept 21): Fu Yu Corporation says its revenue decline over the past three years will see a reversal by early FY17, after bottoming out in FY16.

The precision injection moulds and plastic parts provider explained that its gross margins have risen from 7.1% in FY11 to 16.7% in 1HFY16. In addition, it posted a positive growth in core earnings in FY14 and FY15, even as group revenue continued to slide for the past three consecutive years.

China’s car sales boost is positive for Memtech

SINGAPORE (Sept 13): OCBC Investment Research is maintaining its “hold” call on Memtech International with an unchanged fair value estimate of 48 cents.

Memtech is a components solutions provider for the mobile phone, IT equipment and automotive industries.

Although Memtech’s automobile segment stands to see revenue upside from higher China passenger car sales,  its consumer electronics and telecommunications segments faces challenges.

TSH Corp sells Burn Road property for $16.1 mil

SINGAPORE (July 8): TSH Corporation has sold its property located at 62 Burn Road to Singapore Shenguan for $16.1 million, it revealed in a filing last night.

Shenguan is an unrelated third party and is in the business of manufacturing pharmaceutical intermediates and fine chemicals.

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