AEM added S$77m of orders over two months, now has S$192m for 2018 delivery
PRECISION manufacturer AEM Holdings has received S$192 million of sales orders for deliver in 2018 as at April 1, S$77 million more than its last update on Feb 1, the company said on Thursday during the market's midday break.
The year-to-date orders on April 1, 2017 had stood at S$148 million for 2017 delivery.
AEM's profit guidance for 2018 remains unchanged for at least S$255 million in sales and S$42 million in operating profit before tax.
The company also announced on Thursday that its largest single shareholder, James Toh, will be appointed as non-executive and non-independent director with immediate effect. Keith Toh Hsiang-Wen, who is unrelated is resigning to assume the role as partner of investor Novo Tellus Capital Partners.
AEM's stock gained 12.15 per cent, or 65 Singapore cents, to S$6.00 on Thursday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US dollar rally stalls after rare FX warning from finance chiefs
ROE target of 14% is ‘decent’ for UOB: CEO Wee Ee Cheong
Swiss watch exports plunge as China and Hong Kong demand dries up
Huawei starts sales of new Pura 70 smartphone amid scrutiny on chips
BP reshapes its leadership team as some executives leave company
Deliveroo returns to order growth on strong international demand