AEM Holdings

 

Back on Nov 4 , the Employees Provident Fund Board of Malaysia increased its deemed interest in AEM Holdings above the substantial shareholder threshold from 4.92 per cent to 5.07 per cent.

 

Bought for a consideration of S$1,381,105, the average price of the acquired shares was S$3.49.

 

In a business update on Nov 3, AEM reported revenue of S$161.8 million for its Q3FY20 (ended Sept 30), which was up 93.0 per cent year-on-year.

 

Management also raised its revenue guidance for FY20 to be between S$500 million and S$520 million, based on the sales order visibility and business outlook.

 

FY20 Capex is currently projected to be S$5 million, and management has signalled continued focus and more effort in research and development (R& D), with R& D expenditure in Q4FY20 expected to be S$2 million in support of new projects for future years.

 

AEM has received state job related grants and with the business growth, the group has hired more staff to enhance its core engineering capabilities.

 

The company added that following the implementation of the various programmes by the government to retain and promote the hiring of workers, AEM Holdings has stepped forward to support these initiatives in hiring trainees in various disciplines.