Procurri Corporation

Procurri swings back to profitability in FY18 on stronger margins
SINGAPORE (Feb 26): Procurri Corporation, the global data centre services company, reported earnings of $5.3 million in FY18, reversing from a loss of $2.7 million in FY17. See also: Procurri falls 9.7% to 28 cents as New State also withdraws acquisition offer Earnings for 4Q18 came in at $1.7 million compared to a loss of $1.3 million a year ago. Revenue recorded was 7% higher at $52.1 ...
Second potential offeror rescinds expression of interest to acquire Procurri less than 24 hours later
SINGAPORE (Feb 8): Procurri Corporation says the second potential offeror to express interest in acquiring the company after New State Capital Partners LLC has now decided to terminate further discussions on the matter. The update comes less than 24 hours after Procurri had received its second, unsolicited non-binding expression of interest (EoI) from an unnamed third party to acquire the ...
Procurri up 6.5% after saying it received second unsolicited expression of interest to acquire company
SINGAPORE (Feb 7): Shares in Procurri Corporation, the Mainboard-listed enterprise hardware supplier, are up 2 cents or 6.2%. This follows its Thursday morning announcement that it has received a second unsolicited, non-binding expression of interest from a third party to acquire the company through a possible voluntary general offer. As at 11.07am, shares in Procurri are trading at 33 ...
Procurri reveals PE firm New State Capital Partners as interested offeror
SINGAPORE (Feb 4): Procurri Corporation has received a non-binding letter of intent (LOI) from New State Capital Partners LLC for the proposed acquisition of all the shares of the company -- other than treasury shares and shares held by substantial shareholder Irrucorp -- via a scheme of arrangement. However, Procurri said in a filing this morning has not accepted the LOI and therefore has not ...
Procurri says interested third party still mulling general offer for company
SINGAPORE (Jan 7): Procurri Corp said the interested third party who made an offer on Sept 7, 2018, to acquire the company through a possible voluntary general offer is still mulling the deal. Procurri says due diligence by interested party ongoing Procurri expects loss in FY17; announces long-term strategies to return to profitability However, the provider of data centre equipment and ...
Procurri reports significantly higher 3Q earnings of $1.42 mil
SINGAPORE (Nov 9): Procurri Corporation, the provider of lifecycle services and data centre equipment, reported 3Q18 earnings ended Sept of $1.42 million, up significantly from $14,000 in 3Q17. For the 9M18 ending Sept, earnings came in at $3.7 million versus a loss of $1.49 million in 9M17. Revenue for the quarter was 8% higher at $55.4 million from $51.3 million a year ago. This was ...
Procurri says due diligence by interested party ongoing
SINGAPORE (Oct 8): Procurri Corporation, a 46.83% held portfolio company of DeClout, announced that due diligence by the interested third party is still ongoing. in addition, no definitive agreements have been entered into and there is no certainty that the possible transaction will be consummated. On Sept 7, Procurri announced that the company had received an unsolicited, non-binding ...
Procurri's 1Q earnings grow sixfold to $1 mil on higher segment margins
SINGAPORE (Apr 25): Procurri Corp saw its earnings for 1Q18 grow sixfold to $1 million from $164,000 a year ago on higher revenue which mainly resulted from its higher-margin lifecycle services business segment. Group revenue grew 29.2% to $49.5 million from $38.3 million a year ago, as contributions from both its IT distribution and lifecycle services business segments grew by 10.6% and ...
DeClout in $10 mil loan agreement secured by 46.8% stake in Procurri
SINGAPORE (Apr 12): Mainboard technology company DeClout has entered into a $10 million loan agreement with six investors. The loan are secured by DeClout's entire 46.8% stake or 132 million shares in subsidiary Procurri Corp. DeClout says the loans would be used for business expansion of subsidiaries Beaqon and vCargo Cloud which are also acting as corporate guarantees for the loan. The ...
Procurri expects loss in FY17; announces long-term strategies to return to profitability
SINGAPORE (Jan 30): Procurri Corporation, the IT services and hardware equipment provider, expects to report a net loss for 4Q17 and FY17, according to its preliminary assessment of the unaudited financial results. This is mainly due to foreign exchange differences and write-offs arising from the group’s prudent approach towards stock obsolescence and bad debts. The group will disclose ...