Andy Luong has built UMS up strongly into a $600 million company.
I am confident he will steer JEP to new heights from being a $110 m company now.
I am almost certain he will privatise JEP now that UMS has 29.5% stake in JEP. It will hopefully be at more than 10 cents....Thanks Joseph for highlighting this stock.
Joseph's first post in this thread was in April 2017 when the share price was 2.8 cents (as stated in his post). Today, it is at 8.6 cents! A whopping 207% gain in 1 year!
People, this business has high barriers to entry. I think that's why UMS is going after it.
Privatisation offer at 15 cents! But market trading above that (15.2 cents), which implies some investor is blocking the offer as it is seen as being a lowball offer.
UMS, the controlling shareholder, has bought out Ellipsiz' 10%. So UMS holding went up from 27.96% to 38.78%. That's why it had to make a takeover offer for the rest of the shares. I don't think UMS necessarily wants to take JEP private yet.
UMS has finally turned JEP around : It recorded a net profit after tax of S$2.2
million, up by 166% from $0.8 million in FY2017. Profitability improved due to the higher gross margin generated from the Precision Manufacturing segment. For the financial year ended 31 December 2018, the group reported overall gross margin of 15%, up by 3% a year ago.
I think JEP can continue to do better under UMS, so it's a good idea to hold on to the shares instead of selling to UMS at 15 cents.
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