UMS Holdings

UMS reports 44% drop in 2Q earnings to $8.1 mil

SINGAPORE (Aug 14): UMS Holdings saw its earnings drop 44% to $8.1 million for the 2Q19 ended June, from $14.5 million a year ago.

Earnings per share fell to 1.51 cents in 2Q19, compared to 2.70 cents in 2Q18.

2Q19 revenue fell 15% to $30.0 million, from $35.2 million a year ago, as US-China trade tensions, plunging memory prices and the shift in chipmakers' strategies continued to weigh on the group's performance.

UMS’s chairman Luong buys shares; company raises stake in associate JEP

SINGAPORE (May 27): Andy Luong, executive chairman of UMS Holdings, has bought shares in the company for the first time in six months. On May 16, he bought 250,000 UMS shares, at an average price of 62.5 cents a share. The last time he bought shares in the company was on Dec 18, when he purchased 250,000 shares for 55.55 cents each.

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UMS kept at 'reduce' and 'fully valued' given semiconductor industry still weak

SINGAPORE (May 21): CGS-CIMB Research is maintaining UMS Holdings at “reduce” with a lower target price of 55 cents.

This came after UMS’s 1Q19 core net profit came below expectation at 21%, below UMS’s 1Q average of 24% for the past nine years.

See: UMS posts 38% drop in 1Q earnings to $7 mil on lower revenue

UMS posts 38% drop in 1Q earnings to $7 mil on lower revenue

SINGAPORE (May 15): UMS Holdings reported 1Q19 earnings fell 38% to $7.0 million from $11.4 million in 1Q18.

This came on the back of a 24% declined in revenue to $28.6 million from $37.5 million a year ago, due to a 27% y-o-y drop in the group’s semiconductor business to $27.0 million.

Within the semiconductor segment, revenue from its integrated systems business decline 32% y-o-y to $12.5 million, while revenue from component sales fell by 22% y-o-y to $14.5 million.

UMS cut to 'reduce' by CGS-CIMB amid industry slowdown

SINGAPORE (Feb 28): CGS-CIMB is downgrading its call on UMS Holdings to “reduce” from “hold” with a reduced target price of 62 cents from 75 cents previously.

In a Wednesday report, analyst William Tng says, “We cut our FY19-20F core EPS as the slowdown gathers pace.”

“Downside risk is order pullback by its customer. Upside risk is stronger-than-expected orders from its customer, M&As and new customers (diversification efforts),” he adds.

UMS reports 17% drop in FY18 earnings of $43 mil on lower sales

SINGAPORE (Feb 26): UMS Holdings, the precision engineering group which specialises in the manufacture of semiconductor components, reported 4Q18 earnings of $9.3 million, down 41% from a year ago.

Revenue in 4Q18 declined 33% to $25.9 million due mainly to a 36% decline in the semiconductor segment which was offset by a 63% rise in sales surge from its others segment comprising mainly revenue from subsidiaries Starke Singapore and Kalf Engineering.

Analysts remain positive on UMS Holdings as sales in global semiconductor industry projected to reach all-time high

SINGAPORE (Aug 16): UMS Holdings announced that its 2Q18 earning have increased by 26% to $14.5 million, compared to $11.5 million in 2Q17.

This brings 1H18 earnings to $25.9 million, 14% higher than $22.7 million in 1H17.

However, revenue for the quarter saw an 18% drop to $35.2 million from $$42.7 million a year ago. This was mainly due to a 17% decline in sales from the group’s semiconductor business and the absence of revenue contribution from its Others segment.

Changes in inventories increased more than six fold to $6.20 million from $0.95 million last year.

JEP appoints exec chairman Andy Luong as acting CEO amid management exodus

SINGAPORE (June 4): Changes are afoot at Catalist-listed JEP Holdings, the provider of precision machining and engineering solutions.

JEP announced Friday night that executive chairman Andy Luong has been appointed as acting CEO with immediate effect to “lead the company through its next phase of innovation to spur growth”.

Luong, 58, is also the founder and CEO of another SGX-listed precision engineering firm, UMS Holdings.

UMS Holdings posts 2% higher 1Q earnings of $11.4 mil on lower expenses

SINGAPORE (May 11): UMS Holdings reported 1Q18 earnings increased by 2% to $11.4 million, compared to $11.2 million in 1Q17.

Revenue came in at $37.5 million, 10% lower than $41.8 million recorded in the previous year, due to a 9% dip in revenue from its semiconductor business while sales from its Others segment fell 44%.

Most of the group’s revenue are denominated in USD and the average exchange rate in 1Q18 was about 7% lower than that in 1Q17.

UMS Holdings acquires 70% stake in Starke Singapore

SINGAPORE (Mar 29): UMS Holdings announced that it is acquiring a 70% stake in non-ferrous metal alloys specialist, Starke Singapore.

The cash consideration for the acquisition will be determined based on the net tangible assets value per share of Starke for the financial period ended March which is still being prepared.

Based on Starke’s unaudited accounts for the financial year ended Dec 2017, the consideration shall be $7.1 million.

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