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Latest Forum Topics / Metech Intl    Last:0.042    +0.003  Post Reply
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Everyday
Elite
21-Apr-2022 22:07     
 
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 Alert Admin 		Another positive part of the Co' s answer to Sgx query :

As the Company holds 51% stake in the JV Company and has the right to appoint a majority number of representatives to the JV Company&rsquo s board, it is expected to consolidate 51% of JV Company&rsquo s profit/loss into its group consolidated financials. As announced on 4 February 2022, the lab-grown diamond segment contributed S$1.06 million revenue and S$18,000 profit to the Group&rsquo s consolidated financials for the first six months ended 31 December 2021 since the JV Company was incorporated on 27 September 2021. 

So we may be able to see Metech' s revenue,profit increase in the coming months after the diamonds mass production start and marketed.

For full details on Sgx query(there are many more things in the query). Read for your info. May clear some your doubts.Sgx is just doing their job.

https://links.sgx.com/1.0.0/corporate-announcements/39WX5U7I4HW91X7G/24bb60e3ac7d073a6b6a7dd6c98c5efb662088d418caf41138a69752fda87bd5



 
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Everyday
Elite
21-Apr-2022 21:42     
 
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 Alert Admin 		Thanks for the Good News!.....waiting for production to start....and official opening of the factory  laughand  bringing in the revenue..

WBdisciple      ( Date: 21-Apr-2022 21:23) Posted:

Company just replied to SGX queries and here are the few things that caught my eye:
https://links.sgx.com/FileOpen/Responses%20to%20SGX%20Queries.ashx?App=Announcement& FileID=713129
1.  The machines are in the process of setting up and commissioning with production in testing stage concurrently. The JV Company is committed to commence mass production soonest possible upon completion of the commissioning of the machines and testing.

2.  To clarify, the JV Company, as a subsidiary of the Company, paid for and owns the specialised
machines. The acquisition of the specialised machines of RMB 22 million was supported by the
Group and XDC in proportion to their equity in JV Company. The trade secret, which refers to the
technology used to manufacture lab-grown diamonds, was attached to acquisition, and the
specialised machines sold to JV Company. This trade secret was separately granted under a
patent licensing agreement entered into between the JV Company and a wholly-owned
subsidiary of XDC, which was announced on 27 January 2022. No license fee is payable under
the patent licensing agreement.

3.  The MOUs and collaboration agreements remain valid as of today. With current status of machines and production which were explained in response to query 2(c) above, there has been no further development in the MOUs. These MOUs were signed with minimum validity period of one year and reneweable by mutual agreement between Parties. The Company expects definitive agreements in respect of the MOUs and collaboration agreements to be entered into by the JV Company after commencement of mass production. 


 

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WBdisciple
Elite
21-Apr-2022 21:23     
 
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 Alert Admin 		Company just replied to SGX queries and here are the few things that caught my eye:
https://links.sgx.com/FileOpen/Responses%20to%20SGX%20Queries.ashx?App=Announcement& FileID=713129
1.  The machines are in the process of setting up and commissioning with production in testing stage concurrently. The JV Company is committed to commence mass production soonest possible upon completion of the commissioning of the machines and testing.

2.  To clarify, the JV Company, as a subsidiary of the Company, paid for and owns the specialised
machines. The acquisition of the specialised machines of RMB 22 million was supported by the
Group and XDC in proportion to their equity in JV Company. The trade secret, which refers to the
technology used to manufacture lab-grown diamonds, was attached to acquisition, and the
specialised machines sold to JV Company. This trade secret was separately granted under a
patent licensing agreement entered into between the JV Company and a wholly-owned
subsidiary of XDC, which was announced on 27 January 2022. No license fee is payable under
the patent licensing agreement.

3.  The MOUs and collaboration agreements remain valid as of today. With current status of machines and production which were explained in response to query 2(c) above, there has been no further development in the MOUs. These MOUs were signed with minimum validity period of one year and reneweable by mutual agreement between Parties. The Company expects definitive agreements in respect of the MOUs and collaboration agreements to be entered into by the JV Company after commencement of mass production. 


 
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Everyday
Elite
21-Apr-2022 04:40     
 
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 Alert Admin 		Need patience....

Everyday      ( Date: 20-Apr-2022 14:51) Posted:

No solid news price wobble....
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Everyday
Elite
20-Apr-2022 14:51     
 
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 Alert Admin 		No solid news price wobble....
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Everyday
Elite
20-Apr-2022 07:01     
 
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 Alert Admin 		👍 👍

tuntun      ( Date: 19-Apr-2022 22:24) Posted:

Soon going to break out beyond 30 cents soon ...
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tuntun
Veteran
19-Apr-2022 22:24     
 
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 Alert Admin 		Soon going to break out beyond 30 cents soon ...
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Everyday
Elite
19-Apr-2022 19:07     
 
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 Alert Admin 		Hovering around 0.27....

Everyday      ( Date: 19-Apr-2022 09:37) Posted:

Looks like uptrend....
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Everyday
Elite
19-Apr-2022 09:37     
 
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 Alert Admin 		Looks like uptrend....
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WBdisciple
Elite
18-Apr-2022 12:58     
 
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 Alert Admin

Metech JV partner disposes shares in JVCo for $4 mil as an interested person transaction

https://www.theedgesingapore.com/news/company-news/metech-jv-partner-disposes-shares-jvco-4-mil-interested-person-transaction

X Diamond Capital (XDC), the joint venture (JV) partner of Metech International, has disposed of its shares in the joint venture company (JVCo), Asian Eco Technology, to Wu Yongqiang.



Wu is a controlling shareholder of Metech International with 23.76 million shares in the company, or a 15.68% stake of the company&rsquo s total voting shares, making this an interested person transaction (IPT) under the Catalist rules.

XDC and Wu had, on April 17, entered into a sale and purchase agreement (SPA) for the sale of 100,000 ordinary shares in the JVCo to Wu for a total consideration of $4 million, or $40 per share.


The sale shares represent 20% of the total paid-up and issued share capital of the JVCo.

The JVCo was incorporated on Sept 27, 2021, after the entry into a joint venture agreement (JVA) between Metech&rsquo s wholly-owned subsidiary Asian Green Tech and XDC.

Following the disposal, Asian Green Tech, XDC and Wu now hold a respective 51%, 29% and 20% of the total share capital of the JVCo.


Under the terms of the SPA and the JVA, Wu will execute a deed of ratification and accession in favour of and for the benefit of AGT and XDC, agreeing to be bound by and entitled to the benefit of all the terms and conditions of the JVA which are applicable to it as a shareholder of the JVCo.

XDC had, on April 11, informed Metech of its intention to dispose part of its shareholder in the JVCo, in which it offered Metech the first right of first refusal.


At the time, a third party had indicated its willingness to acquire the 20% stake in the JVCo.

The board of Metech, on April 14, decided to forgo the right. It then sought to get more details of the third-party buyer.

Wu, who is also advisor to the board of Metech, felt that it would be &ldquo cumbersome&rdquo to introduce a new party to the JVCo. Following a discussion with the other controlling shareholder of Metech on April 15, Wu then decided to make the offer to XDC at the same consideration.

The entry into the JV is not expected to materially impact Metech&rsquo s net tangible assets (NTA) per share and its earnings per share (EPS) for the current financial year ending June 30.
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Everyday
Elite
18-Apr-2022 10:44     
 
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 Alert Admin

Dec 24th 2021 news.....Funding by Ningbo Meishan (no  update since Dec 2021)
Metech International inks deal to get US$100 mil in funding for lab-grown diamond business

 
Atiqah MokhtarFri, Dec 24, 2021  &bull   10:3 AM  GMT+08  &bull   4 months ago  &bull   1  min read
 

Catalist-listed Metech International, through its joint venture company Asian Eco Technology (AET), has entered into a strategic collaboration agreement with Chinese firm Ningbo Meishan on Dec 24.

Under the agreement, Ningbo Meishan, which is backed by Chinese investment company Zongheng Capital, will provide funding of US$100 million ($136 million) for AET&rsquo s lab-grown diamond business activities through debt and/or equity financing.

According to a press release announcing the deal, the funding will be primarily used for the construction of AET&rsquo s lab-grown diamond manufacturing facilities in Singapore.
 
 

 
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For_The_Next_Leg
Master
18-Apr-2022 10:42     
 
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 Alert Admin
$MetechIntl(V3M.SI)
 
" On 11 April 2022, the Company was informed by XDC of its intention to dispose of part of its shareholding in JV Company. A third-party had indicated its willingness to acquire 20% of JV Company from XDC for a consideration of S$4,000,000. As the Company has a pre-emptive right to the Sale Shares, XDC offered the Company the first right of refusal.
 
On 14 April 2022, the Board decided to forgo the right and sought to get more details of the buyer from XDC. Mr Wu Yongqiang, the advisor to the Board and one of the controlling shareholders, felt that it would be cumbersome to introduce a new party to the JV Company and after a discussion with the other controlling shareholder on 15 April 2022, decided to make an offer to XDC at the same consideration of S$4,000,000 to acquire the Sale Shares. With consent of the
board of XDC, the Sale and Purchase Agreement was signed on."
 
This meant that the subsidiary is now valued at 20 million against the Group valued at 29m market cap only. Amazing.
 
https://links.sgx.com/1.0.0/corporate-announcements/BYMYU4IH11EAJ7QQ/45d1c110d0778f862d9c9fa145d84a57176ef50e987718b471233192d58d90fd
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tedlim
Veteran
18-Apr-2022 10:10     
 
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 Alert Admin 		Valuation of the the JV is now S$20 million....Metech owns 51%, hence JV value is S$10m.

Metech' s  Mkt cap is now S$23m. Interesting to know how the S$20m increased in valuation of XDC was arrvived?   lab-grown diamond venture started in SIngapore? 
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GoodLearner
Senior
18-Apr-2022 09:44     
 
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 Alert Admin 		Profit realized
Main role actor XDC partially realized its profit while there is lack of transparancy on the  progress of the diamond JV
Yet the price gone  up by > 40% from 19cts 

MakeChanges      ( Date: 18-Apr-2022 08:57) Posted:

they need more time to think of an answer laugh

GoodLearner      ( Date: 18-Apr-2022 08:38) Posted:

There is one question not answered in the announcement. Why XDC wants to sell at this point of time?
Interesting to see how the market responds
Hope for the best.
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MakeChanges
Elite
18-Apr-2022 08:57     
 
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 Alert Admin 		they need more time to think of an answer laugh

GoodLearner      ( Date: 18-Apr-2022 08:38) Posted:

There is one question not answered in the announcement. Why XDC wants to sell at this point of time?
Interesting to see how the market responds
Hope for the best.
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GoodLearner
Senior
18-Apr-2022 08:38     
 
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 Alert Admin 		There is one question not answered in the announcement. Why XDC wants to sell at this point of time?
Interesting to see how the market responds
Hope for the best.
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Everyday
Elite
18-Apr-2022 08:30     
 
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 Alert Admin 		CHANGE OF SHAREHOLDING IN JOINT VENTURE COMPANY AND ENTRY INTO INTERESTED PERSON TRANSACTION
https://links.sgx.com/1.0.0/corporate-announcements/BYMYU4IH11EAJ7QQ/45d1c110d0778f862d9c9fa145d84a57176ef50e987718b471233192d58d90fd

1. INTRODUCTION The Board of Directors (the &ldquo Board&rdquo ) of Metech International Limited (the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) refers to the announcement released by the Company on 24 September 2021 (the &ldquo Announcement&rdquo ) regarding the entry into a joint venture agreement (the &ldquo JVA&rdquo ) between Asian Green Tech Pte. Ltd. (&ldquo AGT&rdquo ), a wholly-owned subsidiary of the Company, and X Diamond Capital Pte. Ltd. (&ldquo XDC&rdquo ) on 24 September 2021, pursuant to which AGT and XDC (collectively, the &ldquo Parties&rdquo ) would incorporate a joint venture company (the &ldquo JV Company&rdquo ) in Singapore to carry out the business of manufacturing and distribution of lab-grown diamonds (the &ldquo Joint Venture&rdquo ). Pursuant to the JVA, AGT and XDC had incorporated Asian Eco Technology Pte. Ltd. (the &ldquo JV Company&rdquo ) on 27 September 2021, with AGT holding 51% of the share capital of the JV Company and XDC holding 49% of the share capital of the JV Company. The Company had also provided further details and updates on the Joint Venture in its circular dated 24 December 2021 in relation to, among others, the proposed diversification of the core business of the Group to include manufacturing and distribution of lab-grown diamonds (also known as super-hard material) and such other related activities that are necessary, related or incidental thereto (the &ldquo Circular&rdquo )

. 2. DISPOSAL OF XDC&rsquo S SHARES IN THE JV COMPANY The Company wishes to update that on 17 April 2022, XDC and Mr. Wu Yongqiang, a controlling shareholder of the Company, entered into a sale and purchase agreement (the &ldquo Sale and Purchase Agreement&rdquo ) for the sale of 100,000 ordinary shares in the JV Company (the &ldquo Sale Shares&rdquo ) by XDC to Mr. Wu Yongqiang (the &ldquo Disposal&rdquo ), for an aggregate consideration of S$4,000,000. The Sale Shares represent 20% of the paid up and issued share capital of the JV Company. Following the Disposal, AGT, XDC and Mr. Wu Yongqiang respectively hold 51%, 29% and 20% of the issued and paid-up share capital of the JV Company. As at the date of this announcement, Mr. Wu Yongqiang has a direct interest in an aggregate of 23,764,400 ordinary shares in the Company representing 15.68% of the total voting shares of the Company. He is a seasoned businessman and over the years, he has accumulated business management experience and undertaken business development activities in various industries. Pursuant to the terms of the Sale and Purchase Agreement and the JVA, Mr. Wu Yongqiang will execute a deed of ratification and accession (the &ldquo Deed of Ratification and Accession&rdquo ) in favour of and for the benefit of AGT and XDC, agreeing to be bound by and entitled to the benefit of all the terms and conditions of the JVA which are applicable to it as a shareholder of the JV Company. Details of the terms of the JVA are set out in the Announcement and the Circular.

For full details read the Sgx announcement .....looks like Mr Wu is the main share holder of the Jv 
 
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Everyday
Elite
17-Apr-2022 12:03     
 
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 Alert Admin 		Best wishes for tmr & rest of week..✌ ️ ✌ ️ .
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Everyday
Elite
16-Apr-2022 17:29     
 
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 Alert Admin 		Looking forward to genuine trading each working day....mkt players are taking interest in this share
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Everyday
Elite
14-Apr-2022 17:48     
 
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 Alert Admin 		Amazing vol at 2.7m and closed at 0.27.....a great day!..Looking forward to next week!
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