MFS Technology

MFS Technology

Postby winston » Wed Jul 14, 2010 12:22 pm

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Would the Intel effect flow into this counter as well ?
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: MFS

Postby winston » Fri Sep 17, 2010 7:47 am

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MFS Technology Ltd Announces Retirement and Appointment of MD & CEO
16 Sep 2010

MFS Technology Ltd (‘MFS’) this evening announced the retirement of Mr Pang Tak Lim, MD & CEO, a position he has held since 1997. With more than thirty years in the electronics industry, eighteen of these were with MFS.

He oversaw the growth of the company in the flexible circuits and PCB businesses, and
expanded its base to the current locations in Singapore, Malaysia and China.

The MFS Board and management thank Pang for his leadership over the years through the many business cycles as he finishes his long career at the end of this September.

Replacing him from October 1, 2010, as MD & CEO will be Mr Chng Say Tiong, who has been with MFS since 2001. ST Chng, 48, currently holding a position as general manager, has been in the PCB electronics industry for twenty four years, with companies such as Motorola and Wus Electronics before joining MFS.

He has a first class honours degree in chemical engineering from the National University of Singapore, and is married with three children.
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Re: MFS

Postby winston » Tue Nov 09, 2010 1:40 pm

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FY2010 revenue increased by 39% to $188 million compared to FY 2009 with all our core segments reporting higher sales. Sequentially, sales increased by 13%.

The increase in sales came mainly from our Personal Communication and Wireless Portable, Data Storage and Office Automation segments of our FPC Division and Energy and Automotive segments of PCB Division.

On account of higher turnover, the Group achieved a turnaround to report a gross profit of $3.5 million versus a gross loss of $5.3 million in FY 2009. Both our FPC and PCB Divisions reported gross profit.

The gross profit generated by our FPC Division stem from our efforts to diversify into high growth segments such as smart phone and office automation. PCB Division benefited from the higher turnover notwithstanding that average selling prices and gross
margins were little changed.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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Re: MFS

Postby winston » Sat Nov 13, 2010 5:19 pm

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FY Sep 30, 2010

Sales: +39%
Loss: Sin$9.7m ( down from loss of Sin$13.7m )
RNAV: 0.17

The increase in sales came mainly from our Personal Communication and Wireless Portable, Data Storage and Office Automation segments of our FPC Division and Energy and Automotive segments of PCB Division.

The Group cash balance, comprising cash and fixed deposit, stood at $26.5m as at 30th. Sept, 2010
( Sin$0.04 per share )

- Down from Sin$33m; Sin$0.05 per share

The Group has no cash borrowing as at 30th September 2010.

The Group has established that there were accounting discrepancies relating to the delay in charging of outsourcing cost to cost of goods sold for 4Q FY2008 and 1Q FY2009 at a subsidiary, MFS Technology (PCB) Co Ltd, located in Hunan, China.

This resulted in the reported losses being understated for financial years 2008 and 2009. Total losses after restatement will increase from $10 m to $14.4 m for FY 2008 and from $13.5m to $13.7m for FY 2009.


http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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Re: MFS

Postby winston » Tue Dec 07, 2010 6:58 pm

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MFS China partner seeks to rid 35% stake in subsidiaries By ANGELA TAN

MFS Technology Ltd said on Tuesday that its China joint venture partner has expressed an intent to sell their 35 per cent stake in the company's subsidiaries - MFS Technology (Hunan) Co, Ltd and MFS Technology (PCB) Co, Ltd.

MFS said it has the first right of refusal on the proposed transaction.

'Our board is currently reviewing the offer and will update shareholders at the earliest opportunity,' MFS said.


Source: Business Times
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Re: MFS

Postby winston » Sat Jan 22, 2011 11:56 am

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Notice of Annual General Meeting

NOTICE IS HEREBY GIVEN that the Tenth Annual General Meeting of the Company will be held at 22 Tuas Avenue 8, Singapore 639237 on Monday, 24 January 2011, at 11:30 a.m. for the following business:

http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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Re: MFS

Postby winston » Thu Feb 03, 2011 12:25 pm

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DATE OF RELEASE OF FINANCIAL RESULTS FOR THE FIRST QUARTER FY2011 ENDED
31 DECEMBER 2010


Singapore, 2 February 2011 – MFS TECHNOLOGY LTD will be announcing its financial results for the first quarter ended 31 December 2010 on Friday, 11 February 2011, after trading hours on the Singapore Exchange Securities Trading Limited.

The first quarter results will also be made available on our website at
http://www.mfstech.com.sg/investor.html

By Order of the Board
Ronnie Chia
Corporate Secretary
2 February 2011

http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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Re: MFS Technology

Postby winston » Fri Feb 11, 2011 6:26 pm

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MFS still in the red in Q1 By WINSTON CHAI

MFS Technology continues to be in the red as it kick-started its new financial year, suffering a net loss of $2.6 million in the first quarter.

In the same period last year, the firm reported a net loss of $188 million.

Q1 sales stayed flat at $44.8 million. MFS has suffered three straight annual losses and could be in danger of being put on the Singapore Exchange's watch-list.

http://www.businesstimes.com.sg/sub/lat ... 88,00.html?
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Re: MFS Technology

Postby winston » Fri Feb 11, 2011 9:21 pm

Cash

The Group cash balance comprising cash and fixed deposit stood at $26.3m as at 31st December 2010, little changed from 30th September 2010. Despite reporting a loss for 1Q FY2011, the Group continued to generate positive operating cash flow amounting to $1.4 million with the surplus generated from the reduction in receivables and inventory level. Investing activities of $1.3 million were for the purchase of fixed assets by our 2 China subsidiaries.


Revenue


For the 1st quarter ended 31st December 2010, revenue was flat at $44.8m year on year.

FPC sales decreased by 15.8% and PCB sales posted an increase of 45.2% backed by orders from the energy and automotive segments.

Competitive pricings on new programs and price erosion on existing programs in the Personal Communications and Wireless Portable segment led to the FPC division incurring gross loss.

PCB division fared better and managed to post positive gross margin.


http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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Re: MFS Technology

Postby cif5000 » Sun May 29, 2011 11:28 pm

I wonder if MFS will turnaround.
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