To Andy Luong, the new controlling shareholder of JEP Holdings, the company's new HQ at Seletar Aerospace Park is a white elephant, according to a report in The Edge Singapore.

andy luongAndy Luong, chairman and CEO of UMS Holdings -- and acting CEO of JEP Holdings. NextInsight file photo.The 16-22 July edition of the weekly quotes Luong saying Singapore is not a cost-competitive location for JEP. He wants to relocate the operations to Penang.

"(In) the last six months, (we have been trying) to understand the root cause of why the company isn't making money. We are basically (attempting) to rightsize the management and operations."

In FY2017, JEP earned $825,000 in net profit on $86.1 million of revenue.

Luong is the chairman and CEO of UMS Holdings, which acquired a 29.5% stake in JEP in January this year from insiders for $28.2 million cash.

Stock price 

20.5c

52-week range

10 - 38.4 c

PE (ttm)

103X

Market cap

S$78.7 m

Shares outstanding

383.7 m

Dividend 
yield
(ttm)

--

1-yr return

83%

Source: Yahoo!

With four out of the five directors in the previous board having quit or retired, Luong finds the way is cleared for him to make sweeping changes.

This includes building a factory within 18 months in Penang, which will house the operations of JEP.

He also plans to sign up a strategic partner for JEP, akin to how Applied Materials relates to UMS.

jep joelauTo find out more, buy The Edge Singapore at the newsstands for $5.

Report on our visit to JEP in 2013:   

 


Share Prices

Counter NameLastChange
AEM Holdings1.1300.030
Alliance Mineral0.125-0.003
Anchor Resources0.014-
AusGroup0.027-
Avi-Tech Electronics0.2850.015
Best World Int.1.360-
China Sunsine1.1400.010
CSE Global0.480-0.005
Food Empire0.495-
Geo Energy0.157-
Golden Energy0.2050.005
GSS Energy0.0840.003
HMI0.715-
ISDN Holdings0.235-
KSH Holdings0.420-
Miyoshi0.043-
Moya Asia0.076-
Nordic Group0.2900.005
Oxley Holdings0.330-
REX International0.0680.001
Riverstone0.915-0.005
Roxy-Pacific0.390-0.005
Sing Holdings0.405-
SingMedical0.380-0.005
Sino Grandness0.0500.004
Straco Corp.0.755-0.005
Sunningdale Tech1.4000.010
Sunpower Group0.480-
The Trendlines0.078-0.002
Tiong Seng0.230-
Uni-Asia Group0.7550.010
XMH Holdings0.153-
Yangzijiang Shipbldg1.5200.010

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 2614 guests and no members online