Raffles United Holdings

Raffles United proposes $12 mil rights issue; another shareholder called up by CAD
SINGAPORE (Jan 10): Raffles United Holdings is seeking to raise up to $11.7 million by proposing to undertake a renounceable, non-underwritten rights issue of up to 234 million new rights shares at 5 cents each. This represents a discount of about 39% to the counter’s closing price on Jan 8, the last trading day prior to the announcement. Assuming full subscription, the net proceeds are ...
Several Raffles United executives to report back to CAD for further investigations
SINGAPORE (June 19): Raffles United Holdings, formerly known as Kian Ho Bearings, said several top executives interviewed by the Commercial Affairs Department (CAD) have to report back to the white-collar crime division for further investigations. See: Raffles United under CAD probe for possible Securities and Futures Act infringement Managing Director Teo Teng Beng was interviewed by CAD ...
CAD interviews Raffles United executives for possible Securities and Futures breaches
SINGAPORE (May 8): Raffles United Holdings, formerly known as Kian Ho Bearings, revealed that the Commercial Affairs Department (CAD) has interviewed several of its executives, staff and ex-staff. Among those interviewed are Teo Teng Beng, managing director; Teo Xian-Hu Amanda Marie, executive director and deemed substantial shareholder; Ho Hui Min, CFO and head, corporate of the company; Koh ...
Raffles United under CAD probe for possible Securities and Futures Act infringement
SINGAPORE (May 4): Raffles United Holdings, formerly known as Kian Ho Bearings, announced Friday that the company and its subsidiary, Kian Ho, are under investigation by the Commercial Affairs Department (CAD). According to Raffles United, the company on Wednesday received a letter from the authorities regarding the probe into an alleged offence under the Securities and Futures Act. The ...
Raffles United swings back to black in FY17
SINGAPORE (Feb 23): Raffles United Holdings, formerly known as Kian Ho Bearings, has swung to a profit of $3.6 million for FY17 ended December 2017, from a loss of $6.7 million in the preceding financial year. Raffles United recorded a 2% improvement in revenue for FY17 to $73.0 million from $71.4 million in FY16 primarily due to contribution from the group's subsidiary, Acee Electric, which ...
Raffles United to sell stake in Taiwan subsidiary; announces net loss expected for FY2016
SINGAPORE (Nov 30): Raffles United Holdings on Wednesday announced the disposal of its 60% stake in Taiwan subsidiary Ascend Bearings Co. for $1.04 million. In addition, Raffles United issued a profit guidance, warning of an expected net loss for FY2016. In an SGX filing, Raffles United says expected losses are mainly due to expected material loss on disposal of Ascend Bearings; realised ...