Multi Chem

[millionairemind]

October 28, 2008, 6.24 pm (Singapore time)

Multi-chem Q3 net profit down 71.5%

By WONG WEI KONG

Multi-chem Ltd Group on Tuesday said net profit decreased by 71.5 per cent to $1.7 million in the third quarter of 2008 from a year ago.

For the first nine months of 2008, net profit fell by 68.2 per cent to $3.0 million.

The group achieved revenue of $40.7 million for Q32008, up 4.5 per cent. The increase in revenue was mainly attributable to growth in the IT distribution business, the company said. Revene in the first nine months of 2008 was $106.9 million, up 4 per cent.

[millionairemind]

Published January 3, 2009

Multi-Chem warns of full-year 2008 loss

MULTI-CHEM has warned that it will report a full-year 2008 loss because of a drastic slowdown in demand for electronic products since the third quarter of 2008.

Provisions for the impairment of idle machines may be necessary as well. The slowdown has led to a significant drop in production by its manufacturing service business, higher production cost and a squeeze on gross profit margins, Multi-Chem said.

'Given the high fixed costs of depreciation of laser and mechanical drilling machines and routing machines, gross margin is particularly sensitive to changes in production volumes,' it said.

Multi-Chem will release its FY2008 results on Jan 29, 2009. In Q3 2008, net profit slumped 77 per cent year-on-year to $1.37 million. Revenue rose 5 per cent to $40.7 million.

Multi-Chem started as a drilling and routing service specialist and a major distributor of specialty chemicals and materials to PCB manufacturers.

It then diversified to the business of IT distribution. Through its subsidiaries, its IT security business spans Singapore, Malaysia, Thailand, Vietnam, China and Indonesia.

[market-uncle]

First 9 months, Multichem already made a profit of 2.952m. To make a full year loss with require 4Q loss to exceed this amount. This will be a huge contrast to 6.8m profit made in 4Q 2007. Even though the severe slow down in manufacturing (drilling segment) is nothing surprising, the full year loss will almost meant the IT products distribution segment also cave in. Look forward to the month end release of the full year results to get the full picture.

[millionairemind]

January 29, 2009, 7.29 pm (Singapore time)

Multi-Chem sinks into the red in Q408, FY08

By ANGELA TAN

Multi-Chem Limited on Thursday reported the group has sunk into the red for the fourth quarter ended December 31, 2008 and the full year 2008.

For the fourth quarter, it suffered a net loss of S$3.23 million, compared to a net profit of S$6.47 million the previous year.

Sales for the three months fell 19 per cent to S$31.10 million due to the slowdown in its manufacturing service business and the PCB distribution business, whereby demand for handsets, automotive and consumer electronics were adversely affected by the worsening global economic situation.

As a result, for the full year 2008, it reported a net loss of S$902,000 compared to a net profit of S$15.41 million a year ago.

Sales for the 12 month period slipped 2 per cent to S$138.05 million.

In FY2008, the IT distribution business accounted for 70 per cent of its revenue while the PCB distribution and manufacturing service business accounted for the remaining 30 per cent.

Cash and bank balances stood at $13.6 million as at end of December 2008, up from $10.7 million the year before.

[market-uncle]

!!!

At the balance sheet date, 31 December 2008, the Company had not conformed to certain banks’ covenants for the term
loans granted. Accordingly, all non-current portions of the bank loans of $13,952,000 of the Group and the Company
had been reclassified as current in the balance sheet in accordance with FRS1 para 65. The Company will be getting a
waiver letter from the banks for the non-conformity.

Hopefully they don't end up like Jurong Tech.

[behappyalways]

multi-chem-3q-earnings-tumble-70-08-mil
https://www.theedgesingapore.com/multi- ... -70-08-mil

[behappyalways]

Multi-Chem's 2H20 earnings more than double to $10.5 mil
https://www.theedgesingapore.com/capita ... le-105-mil

[behappyalways]

Multi-Chem reports 28% y-o-y jump in 2HFY2021 earnings
https://www.theedgesingapore.com/capita ... 1-earnings

[behappyalways]

Multi-Chem sees 1HFY2022 earnings decline 17% y-o-y to $9.7 mil
https://www.theedgesingapore.com/capita ... o-y-97-mil

[behappyalways]

Multi-Chem raises FY2022 dividends despite lower earnings
https://www.theedgesingapore.com/capita ... r-earnings