Serial System

Serial System reports 85% rise in FY18 earnings to US$17.7 mil
SINGAPORE (March 1): Serial System, the distributor of electronic components and consumer products, reported FY18 earnings rose 85% to US$17.7 million ($23.9 million) from a year ago on higher revenues and margins while an asset sale yielded a one-time gain. The higher bottomline translates into fully diluted earnings per share of 1.97 US cents for FY18, compared to 1.07 US cent for ...
Serial System scraps Hong Kong IPO of subsidiary
SINGAPORE (Nov 9): IT parts distributor Serial System has scrapped plans to spin-off a subsidiary via a Hong Kong listing. The application to list, made six months ago, has lapsed. “In allowing the application to lapse, the board considered various factors, including the overall weakening market sentiment of the Hong Kong capital markets,” the company states on Friday. “The board ...
Serial System group CEO called upon again for Bull Will-linked investigations in Taiwan
SINGAPORE (Sept 13): For the second time, Serial System’s executive chairman and group CEO Derek Goh has asked by the Investigation Bureau, Ministry of Justice of Taiwan to personally assist in an ongoing investigation regarding its 19.02%-owned subsidiary, Bull Will. To recap, the group first reported on 28 June this year that Goh received a request by the Bureau and Taipei District ...
Serial System to divest stake in Australian laundry business for $43 mil
SINGAPORE (Sept 12): Serial System, the distributor of electronic components and consumer products, is divesting its entire 27.34% stake in SPL Holdings (Australia) to Anchorage Bridge Street for US$31.2 million ($43 million). SPL Holdings is an Australia-based commercial laundry business whose clients include hospitality brands such as Hilton, Hyatt and Sofitel. On the other hand, the buyer ...
Serial System reports 39% fall in 2Q earnings to US$2 mil
SINGAPORE (Aug 13): Serial System, the distributor of electronic components and consumer products, reported a 39% fall in 2Q earnings to US$2.0 million ($2.7 million) from a year ago. The group’s bottom line was impacted by higher currency translation losses, impairment loss on investment in an associated company, fair-value loss on financial assets, higher allowance for impairment losses on ...
Serial System CEO asked to assist in Taiwan investigations
SINGAPORE (June 28): Derek Goh Bak Heng, Serial System’s executive chairman and group CEO, has been asked to assist in certain investigations related to the Securities and Exchange Act of Taiwan. Goh’s assistance was requested by the Taipei District Prosecutors Office and the Investigation Bureau, Ministry of Justice of Taiwan, Serial System’s board announced this morning in a ...
Will Serial System's HK spinoff give it the valuation it seeks?
SINGAPORE (June 22): Electronic parts distributor Serial System is set to spin off its Hong Kong subsidiary, Serial Microelectronics (HK), in a listing on the Stock Exchange of Hong Kong.  The listing, which was approved at an extraordinary general meeting on April 6, will cut Serial System’s stake from 91% to 68.25%.  Serial System estimates that the subsidiary, which ...
Serial System spin-off seen as positive
SINGAPORE (May 22): NRA Capital has an “overweight” call on Serial System with a fair value estimate of 24 cents ahead of the proposed spin-off of the group’s Hong Kong and China electronic components distribution business to list on the Hong Kong Stock Exchange (HKSE). The fair value implies an upside of nearly 45% from Serial System’s current trading price of 16.6 cents. See: ...
Serial System's 1Q earnings almost double to $6.9 mil
SINGAPORE (Apr 30): Serial System, the distributor of electronic components and consumer products, reported earnings nearly doubled to US$5.2 million ($6.9 million) in 1Q18 compared to US$2.7 million in 1Q17. Total revenue grew 22% to US$405.2 million, crossing the US$400 million mark for the first time in any quarter since the company’s inception. The electronic components distribution ...
Serial System posts 91% lower 4Q earnings of US$0.4 mil
SINGAPORE (Feb 26): Serial System on Saturday announced FY17 earnings of US$9.6 million ($12.6 million), double its full year earnings of US$4.6 million posted a year ago. The stronger bottomline came on the back of an overall improvement in sales and profit margins as well as substantially smaller losses from associated companies. The group has proposed a final dividend of 0.46 cent, which ...