XMH Holdings is proposing a 0.5-cent dividend for FY2017 even though its earnings have dipped into the red.
At the Group’s results briefing on Friday (30 June), Managing Director Elvin Tan expressed confidence in a business recovery.
Below is an excerpt of the questions raised at the briefing on the Group's intentions to foray into Myanmar and the replies provided by Managing Director Elvin Tan and by CFO Tan Leong Kim.
Q: What is the market for your joint venture in Myanmar?
We are targeting government projects, commercial fishing boats, as well as the type of commercial customers that we have in Singapore.
Myanmar has a power shortage problem. It is not uncommon for power failures to occur in the hotels there. There is demand for power generating sets in Myanmar.
Q: Will you have manufacturing facilities in Myanmar?
We intend to have a small factory there.
One of the reasons we are entering the market through a joint venture is, Myanmar does not allow the presence of foreign trading companies. The other reason is we need local personnel.
|Market cap||S$31.2 m|
|Source: Bloomberg / Company|
Q: Is your joint venture partner in Myanmar related to Marco Polo Marine?
Myanmar MarcoPolo is unrelated to Marco Polo Marine even though there is some similarity in their company names.
Our JV partner is in manufacturing and distribution of power solutions. It is quite a sizable conglomerate, with business interests that range from real estate to F&B.