AddValue Technologies requests trading halt pending announcement

MAINBOARD-LISTED communications technology firm Addvalue Technologies requested a trading halt on Tuesday morning at 11 am with immediate effect pending an announcement.

On Friday, it had announced an exclusive collaboration agreement with satellite communications integrator Network Innovations to jointly develop market opportunities for Addvalue's new iFleetONE-VMS, comprising its iFleetONE maritime satellite communications terminal and proprietary Vessel Monitoring System.

The package helps commercial fishing vessels meet regulatory requirements to routinely and securely report their GPS positioning via a secure satellite link.

Two weeks ago, it disclosed that Addvalue's business has been valued at about S$123 million as at May 31, 2017, it said in a general announcement responding to some shareholders' questions about the value of its intellectual property (IP) assets.

The counter last traded on Tuesday at S$0.025, down 0.1 Singapore cent or 3.85 per cent.