Source: Other
Type: Announcements of Earnings
From: 01/Mar/2019

Metal Component Engineering Limited announced earnings results for the full year ended December 31, 2018. For the full year, the company announced Revenue was SGD 46.856 million compared to SGD 55.598 million a year ago. Loss for the year attributable to owners of the Company was SGD 5.456 million compared to SGD 8.727 million a year ago.

Source: Other
Type: Announcements of Earnings
From: 01/Mar/2019

Metal Component Engineering Limited announced earnings results for the full year ended December 31, 2018. For the full year, the company announced Revenue was SGD 46.856 million compared to SGD 55.598 million a year ago. Loss for the year attributable to owners of the Company was SGD 5.456 million compared to SGD 8.727 million a year ago.

Source: Capital IQ Transaction Database
Type: M&A Transaction Announcements
From: 15/Feb/2019

Metal Component Engineering Limited (Catalist:5DX) entered into a conditional sale and purchase agreement to acquire 51% stake in Asiafame Group Limited from Lu Wenge, Luk Yee Lin Ellen, Andrew Bek, Ai Mizoguchi, Cheng Wang and Kenji Takashi (vendors) for SGD 8.4 million on February 15, 2019. As reported, an initial consideration of SGD 4.9 million will be paid on completion by way of the issuance to each of the vendors, a non-convertible, redeemable, transferable, zero coupon bond in the principal amount of SGD 2.4 million and subject to Asiafame Group’s net profits after tax for the financial period from January 1, 2019 to March 31, 2019 (the “1Q2019”) being equal to or more than CNY 1.8 million (SGD 0.36 million), an aggregate amount of SGD 3.5 million of deferred consideration shall be paid by Metal Component Engineering Limited to the vendors by way of the issuance to each of the vendors, a non-convertible, redeemable, transferable, zero coupon bond in the principal amount of SGD 1.75 million. An aggregate of 102 fully paid-up ordinary shares of Asiafame Group Limited will be acquired, following which Asiafame Group Limited will become a 51.0%-owned subsidiary of Metal Component Engineering Limited (MCEL). MCEL intends to fund the redemption of the bonds by a combination of internal resources as well as fund-raising from the equity market, commercial banks, sophisticated investors and strategic partners. As at March 31, 2018, the net book value of Asiafame Group Limited amounted to approximately SGD 1.98 million. The completion of the transaction is conditional upon MCEL being satisfied in its sole and absolute discretion with the results of the due diligence on Asiafame Group Limited, all necessary requirements under the Singapore Exchange Securities Trading Limited (the “SGX-ST”) Listing Manual Section B: Rules of Catalist (“Catalist Rules”) and all necessary consents or approvals (if any) being granted by third parties or governmental or regulatory bodies or competent authorities having jurisdiction over the proposed (including without limitation, the consent or approval of the SGX-ST (as applicable) in respect of the circular to be despatched to the Shareholders in relation to the proposed acquisition and/or the Business Diversification (if required and/or deemed necessary by MCEL), the receipt of approvals of the respective Board of Directors of MCEL, the vendors and Asiafame Group Limited for the transfer of the shares, MCEL receiving any necessary approvals from its shareholders at an extraordinary general meeting in respect of the acquisition, the appointment of such Directors nominated by MCEL to form part of Asiafame Group Limited’s Board of Directors and the appointment of such legal representative(s) (or person(s) of equivalent authority, however described) nominated by MCEL to Asiafame Group’s subsidiaries (as applicable), there being no adverse change in the global economy and the prospects, operations or financial condition of Asiafame Group occurring on or before completion, MCEL receiving the audited consolidated financial statements of Asiafame Group for the financial year ended December 31, 2018 indicating that Asiafame Group has net profits after tax of not less than CNY 0.8 million (SGD 0.16 million), MCEL commissioning an independent valuer to prepare a valuation report on Asiafame Group, and such valuation being not less than the consideration and the MCEL being satisfied with such valuation, the parties having executed a bond subscription agreement on mutually agreed terms to set out the terms and conditions in respect of the bonds and Metal Component Engineering undertaking a placement of new ordinary shares to raise funds of at least SGD 4 million prior to completion. Completion of the acquisition will take place not later than 14 business days after all the conditions precedent are fulfilled. If the conditions precedent have not been fulfilled or waived by mutual consent on or before August 31, 2019 or such date as all the parties may agree in writing, the agreement shall lapse and cease to have effect.

Source: Capital IQ Expected Earnings Database
Type: Estimated Earnings Release Date (S&P Global Derived)
From: 12/Nov/2018

Metal Component Engineering Limited expected to report Fiscal Year 2018 results on February 25, 2019. This event was calculated by S&P Global (Created on November 12, 2018).

Source: Singapore Exchange
Type: Announcements of Earnings
From: 14/Aug/2018

Metal Component Engineering Limited announced unaudited group earnings results for the half year ended June 30, 2018. For the half year, the company's revenue was SGD 23,578,000 against SGD 27,939,000 a year ago. The decrease was primarily due to the decrease in global demand for customer products that adversely affected sales in Singapore in half year 2018, and the closures of the plating lines in the Suzhou and Shanghai plants in half year 2017, resulting in absence of sales in these plants in half year 2018. Loss before taxation was SGD 2,698,000 against SGD 5,293,000 a year ago. Loss for the period was SGD 2,698,000 against SGD 5,293,000 a year ago. Total comprehensive loss for the period attributable to owners of the company was SGD 2,586,000 compared to SGD 5,643,000 a year ago. Net cash used in operating activities was SGD 1,078,000 against net cash generated from operating activities of SGD 1,259,000 a year ago. Purchase of property, plant and equipment was SGD 1,157,000 against SGD 476,000 a year ago. Basic and diluted loss per share was 0.72 cents compared to 1.41 cents a year ago. Net asset value per ordinary share based issued capital as at end of the period/year was 4.93 cents. Net cash used in operating activities was mainly due to operating loss before working capital changes of SGD 1.4 million and a decrease in trade and other payables of SGD 3.4 million, partially offset by a decrease in trade and other receivables of SGD 3.8 million.

Source: Singapore Exchange
Type: Executive/Board Changes - Other
From: 16/May/2018

Metal Component Engineering Limited announced the appointment of Lim Swee Kwang as Independent Non-Executive Director, Chairman of the Audit Committee and a member of the Nominating Committee and Remuneration Committee. From 2016 to 2017 he was COO of Meiban Corporation Pte Ltd. From 2015 to 2016 he was associated with Group EVP - Hyflux Limited. From 2012 to 2014 he was as Investment Advisor at Accion Capital Management Pte Ltd.

Source: Singapore Exchange
Type: Executive/Board Changes - Other
From: 27/Apr/2018

Metal Component Engineering Limited announced that the appointment of Lim Swee Kwang as Independent Non-Executive Director, Chairman of the Audit Committee and member of the Nominating Committee and Remuneration Committee. Mr. Lim was a Director of the company from 2014 to 2016. Mr. Lim Chin Tong had retired pursuant to Article 92 of the company's Constitution at the conclusion of the company's Annual General Meeting held on 27 April 2018. Job Title: Lead Independent Non-Executive Director, Chairman of the Audit Committee and a member of Nominating Committee and Remuneration Committee. Following the retirement, Mr. Koh Gim Hoe will be appointed as the Lead Independent director of the company. The changes are effective from April 27, 2018.

Source: Singapore Exchange
Type: Annual General Meeting
From: 11/Apr/2018

Metal Component Engineering Limited, Annual General Meeting, Apr 27, 2018, at 09:00 Singapore Standard Time. Location: 10 Ang Mo Kio Street 65 Techpoint #04-02 Singapore Singapore Agenda: To receive and adopt the directors' statement and the audited financial statements for the financial year ended 31 December 2017 together with the auditors' report thereon; to consider re-election of directors; to approve the payment of directors' fees of SGD 110,000 for the financial year ending 31 December 2018 to be paid quarterly in arrears at the end of each calendar quarter; to re-appoint Foo Kon Tan LLP, as the company's auditors and to authorise the directors to fix their remuneration; to transact any other ordinary business which may properly be transacted at an AGM; to consider authority to allot and issue shares; to consider authority to allot and issue Shares under the MCE Share Option Scheme 2003; and to consider authority to allot and issue Shares under the MCE Share Option Scheme 2014.

Source: Singapore Exchange
Type: Announcements of Earnings
From: 01/Mar/2018

Metal Component Engineering Limited announced unaudited consolidated earnings results for the year ended December 31, 2017. For the year, the company's revenue was SGD 55,598,000 against SGD 53,037,000 a year ago. Loss before taxation from continuing operations was SGD 8,769,000 against SGD 1,590,000 a year ago. Loss from continuing operations was SGD 8,727,000 against SGD 1,564,000 a year ago. Loss for the year attributable to owners of the company was SGD 8,727,000 or 2.33 cents per diluted share against SGD 3,001,000 or 0.80 cents per diluted share a year ago. Net cash used in operating activities was SGD 386,000 against net cash generated from operating activities of SGD 1,615,000 a year ago. Purchase of property, plant and equipment was SGD 2,287,000 against SGD 1,210,000 a year ago.

Source: Singapore Exchange
Type: Announcements of Earnings
From: 14/Aug/2017

Metal Component Engineering Limited announced unaudited group earnings results for the half year ended June 30, 2017. For the period, the company's revenue was SGD 25.7 million compared with SGD 20.1 million a year ago. Loss before taxation from continuing operations was SGD 0.85 million compared with SGD 0.48 million a year ago. Loss from continuing operations was SGD 0.85 million compared with SGD 0.41 million a year ago. Loss for the period attributable to owners of the company was SGD 5.3 million or 1.41 cents per diluted share compared with SGD 1.8 million or 0.49 cents per diluted share a year ago. Net cash generated from operating activities was SGD 1.3 million compared with net cash used in operating activities of SGD 1.0 million a year ago. Purchase of property, plant and equipment was SGD 0.48 million compared with SGD 0.54 million a year ago. As on June 30, 2017, the company's net asset value per ordinary share was 4.78 cents.

Source: Singapore Exchange
Type: Earnings Release Date
From: 04/Aug/2017

Metal Component Engineering Limited announced that they will report first half, 2017 results on Aug 14, 2017

Source: Singapore Exchange
Type: Corporate Guidance - New/Confirmed
From: 04/Aug/2017

Metal Component Engineering Limited provided group earnings guidance for the half year ended June 30, 2017. The group expects to report a net loss after tax for half year of 2017. It was primarily due to one-time costs incurred pursuant to the closure of two of its operations in China, namely a nickel plating line in Suzhou and a manufacturing plant in Qing Pu, Shanghai, as part of the Group's consolidation and cost saving efforts to better manage its resources.

Source: Singapore Exchange
Type: Annual General Meeting
From: 13/Apr/2017

Metal Component Engineering Limited, Annual General Meeting, Apr 28, 2017, at 09:00 Singapore Standard Time. Location: 10 Ang Mo Kio Street 65 Techpoint #04-02 Singapore Singapore Agenda: To receive and adopt the directors' statement and the audited financial statements for the financial year ended 31 December 2016 together with the auditors' report thereon; to consider re-election of directors; to approve the payment of directors' fees of SGD 110,000 for the financial year ending 31 December 2017 to be paid quarterly in arrears at the end of each calendar quarter; to re-appoint Foo Kon Tan LLP, as the company's auditors and to authorise the directors to fix their remuneration; to transact any other ordinary business which may properly be transacted at an AGM; and to consider other special resolutions.

Source: Singapore Exchange
Type: Announcements of Earnings
From: 01/Mar/2017

Metal Component Engineering Limited reported unaudited consolidated earnings results for the year ended December 31, 2016. For the period, revenue was SGD 53,037,000 against SGD 52,205,000 a year ago. Loss before taxation was SGD 1,590,000 against profit before taxation of SGD 1,319,000 a year ago. Loss attributable to owners of the company was SGD 3,001,000 or 0.80 cents per diluted share against profit attributable to owners of the company of SGD 534,000 or 0.13 cents per diluted share a year ago. Net cash generated from operating activities was SGD 1,499,000 against SGD 7,169,000 a year ago. Additions of intangible assets were SGD 115,000 against SGD 1,978,000 a year ago. Purchase of property, plant and equipment were SGD 1,209,000 against SGD 1,648,000 a year ago.

Source: Singapore Exchange
Type: Corporate Guidance - New/Confirmed
From: 07/Feb/2017

The board of directors of Metal Component Engineering Limited (the "company", and together with its subsidiaries, the "Group") announced that, following a preliminary review of the Group's unaudited consolidated financial results for the financial year ended 31 December 2016, the Group is expected to report a net loss for the year ended 31 December 2016. This was mainly due to costs incurred in connection with the Group's exit from the Hard Disc Drive components (HDD) business segment, as part of its business strategy to exit this increasingly competitive business which generated reducing margins amidst high capital expenditure and operating costs.

Source: Singapore Exchange
Type: Executive/Board Changes - Other
From: 28/Oct/2016

The board of directors (the “Board”) of Metal Component Engineering Limited (the “Company”, and together with its subsidiaries, the “Group”) wishes to announce the resignation of Mr Chua Han Min (“Mr Chua”) as the Executive Director of the Company. Mr Chua has resigned to pursue other personal interests and his last day of service with the Company will be on 2 May 2017. Consequent to Mr Chua’s resignation, he will also cease to be the Deputy Chief Executive Officer (“CEO”) and a member of the Executive Committee of the Company. As part of the Group’s internal restructuring and to maintain an operationally lean management team, the Company currently does not have an immediate plan to put in place a replacement for Mr Chua as the Deputy CEO. The existing roles and responsibilities of the Deputy CEO will be undertaken by the Chairman and CEO of the Company, Mr Chua Kheng Choon, together with the Group’s key managers. The Board wishes to express its appreciation to Mr Chua for his valuable contributions to the Company during his tenure and wish him well in his future endeavours. The particulars of Mr Chua pursuant to the requirements of Rule 704(6) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist will be set out in the cessation template announcement.

Source: Singapore Exchange
Type: Executive/Board Changes - Other
From: 14/Sep/2016

The Board of Directors of Metal Component Engineering Limited announced that Mr. Tan Soo Yong has tendered his resignation as an Executive Director of the company. Mr. Tan has resigned to pursue other personal interests and his last day of service with the company will be March 15, 2017. Consequent to Mr. Tan's resignation, he will also cease to be a member of Executive Committee, IPBU Director and General Manager of Qingpu, Shanghai operations. During his notice period, Mr. Tan will provide support to his future successor to ensure a smooth handover of responsibilities for the Industrial Product business unit ("IPBU") that operates out of Qingpu, Shanghai.

Source: Singapore Exchange
Type: Announcements of Earnings
From: 13/Aug/2016

Metal Component Engineering Limited announced unaudited group earnings results for the six months ended June 30, 2016. For the six months, the company reported revenue of SGD 26,643,000 against SGD 25,495,000 a year ago. Loss before taxation from continuing operations was SGD 646,000 against profit before taxation from continuing operations of SGD 344,000 a year ago. Loss from continuing operations was SGD 637,000 against profit from continuing operations of SGD 339,000 a year ago. Loss for the period attributable to owners of the company was SGD 1,820,000 or 0.49 cents diluted per share against profit for the period attributable to owners of the company of SGD 475,000 or 0.12 cents diluted per share a year ago. Net cash used in operating activities was SGD 1,002,000 against net cash generated from operating activities of SGD 3,742,000 a year ago. Additions of intangible assets were SGD 112,000 against SGD 969,000 a year ago. Purchase of property, plant and equipment was SGD 543,000 against SGD 954,000 a year ago. The group recorded a loss after tax from the continuing operations against profit after tax from the continuing operations a year ago, was mainly due to the start-up of the digital textile printer business and foreign exchange loss. Overall, the group recorded a loss after tax as compared to a profit after tax a year ago, mainly due to (a) the cessation of the HDD business, (b) foreign exchange loss, (c) start-up of a new business segment in the digital textile printer business.

Source: Singapore Exchange
Type: Corporate Guidance - New/Confirmed
From: 29/Jul/2016

Metal Component Engineering Limited provided earnings guidance for the half year ended June 30, 2016. For the period, the company is expected to report a net loss. This was mainly due to a decrease in sales revenue resulting from the closure of the Hard Disk Components business with one of the group's major customers causing high under-utilization of capacity.

Source: Singapore Exchange
Type: Executive/Board Changes - Other
From: 12/May/2016

The board of directors of Metal Component Engineering Limited announced the appointment of Mr. Koh Gim Hoe as an Independent non-executive director of the company with effect from 11 May 2016. Mr. Koh will also be appointed as Chairman of the Remuneration Committee and a member of the Audit Committee and the Nominating Committee.

Source: Singapore Exchange
Type: Executive/Board Changes - Other
From: 06/May/2016

Metal Component Engineering Limited announced the cessation of Lim Swee Kwang as Independent Non-Executive Director with effective May 6, 2016.

Source: Singapore Exchange
Type: Announcements of Earnings
From: 12/Apr/2016

Metal Component Engineering Limited reported consolidated earnings results for the year ended December 31, 2015. For the period, revenue was SGD 71,397,306 against SGD 69,069,043 a year ago. Profit before taxation was SGD 576,280 against loss before taxation of SGD 2,760,751 a year ago. Profit for the year attributable to owners of the company was SGD 534,438 against loss for the year attributable to owners of the company of SGD 2,833,036 a year ago. Net cash generated from operating activities was SGD 7,170,224 against net cash used in operating activities of SGD 242,652 a year ago. Additions of intangible assets SGD 1,977,806.

Source: Singapore Exchange
Type: Annual General Meeting
From: 12/Apr/2016

Metal Component Engineering Limited, Annual General Meeting, Apr 28, 2016, at 09:00 Singapore Standard Time. Location: 10 Ang Mo Kio Street 65, Techpoint #04-02, Singapore 569059 Singapore Agenda: To receive and adopt the Directors Statement and the Audited Financial Statements of the Company for the financial year ended December 2015 together with the Auditors Report thereon; to re-elect directors; to re-appoint Foo Kon Tan LLP, as the Company's Auditors and to authorize the Directors to fix their remuneration; to approve the payment of Directors fees of SGD 110,000 for the financial year ending 31 December 2016; and to transact any other ordinary business which may properly be transacted at an Annual General Meeting.

Source: Singapore Exchange
Type: Announcements of Earnings
From: 24/Feb/2016

Metal Component Engineering Limited reported unaudited consolidated earnings results for the year ended December 31, 2015. For the period, the company reported revenue of SGD 71,397,000 against SGD 69,069,000 a year ago. Profit before taxation was SGD 576,000 against loss before taxation of SGD 2,761,000 a year ago. Profit for the year attributable to owners of the company was SGD 534,000 or 0.13 cents per diluted share against loss for the year attributable to owners of the company of SGD 2,833,000 or 0.77 cents per diluted share a year ago. Net cash generated from operating activities was SGD 7,169,000 against net cash used in operating activities of SGD 243,000 a year ago. Purchase of property, plant and equipment was SGD 1,648,000 against SGD 1,044,000 a year ago. Addition of intangible assets was SGD 1,978,000. The increase in Group revenue was mainly due to the increase in Mechanical Integration (MI) businesses by 46.4%, partially offset by decrease in revenue in the Hard Disk Drive Components (HDD) and Precision Components (PC) business by 14.2% and 2.2% respectively. The Group's profit after tax was mainly due to the increase in sales and a shift of business focus towards the MI business, which mitigated the adverse impact of the declining HDD business on the Group's profitability.