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(Post 51 of 614)   03/18/2001.00:44:32
Author :
Dildo
Is a Hold & Unexciting. Why u re posting this crap dude !

(Post 52 of 614)   04/05/2001.00:25:19
Author :
Sipost
INVESTMENT IN ICX ELECTRONICS INC. (formerly known as ICX Electronics.com)

The Board of Directors of Magnecomp International Limited ("Magnecomp" or the "Company") is pleased to announce that ICX Electronics Inc. ("ICX") has filed the SB-2 Registration Statement with the United States Securities and Exchange Commission ("SEC") for the registration of its shares for public offer and sale. In accordance with the Share Purchase Agreement entered into on 25 April 2000 between ICX and Magnecomp (the "Agreement"), the Company has exercised its option to acquire 250,000 shares at US$4 per share in ICX upon the filing of registration with the SEC. Earlier, Magnecomp did not acquire an additional 175,000 shares in ICX as stated in the Agreement as ICX only placed out 50% of 200,000 shares of ICX at US$5 per share to third parties. With the current acquisition, Magnecomp holds 500,000 shares representing 16% interest in the capital of ICX.

For the current financial year, the investment is not expected to have a material impact on the earnings per share and net tangible assets per share of the Group.

Magnecomp is funding the investment in ICX through internal resources.

None of the Directors or substantial shareholders has any interest, direct or indirect in ICX.

Submitted by Loh Shu Chun, Company Secretary on 04/04/2001

(Post 53 of 614)   04/06/2001.15:13:56
Author :
Gchan
anyone notice magnecomp done at 2.00 (1 lot). is it a mistake of keying in or is it a geniune trade. anyone cares to explain. thks.

(Post 54 of 614)   07/18/2001.21:49:36
Author :
Sipost
Profit Warning from Magnecomp International Limited

The Directors of Magnecomp International Limited would like to announce that owing to the longer than expected slowdown in the electronics industry, the Company's performance for the current fiscal year ending 31 December 2001 will be affected significantly.

The Directors are aware that the bases for their expectations in March this year are no longer appropriate. The slackening demand and weak economic and market conditions globally have impacted the PC buying patterns.

The present excess capacity worldwide and the soft product pricing have affected the Group's margins and the Directors expect the Group to incur a loss after tax for the half year ended 30 June 2001 and through the 3rd and 4th quarter of this year.

Suspension assemblies which accounted for 69% of the Group's turnover for the financial year ended 31 December 2000 will continue to face the slackening demand and pricing pressure. However, sales of stamped components, value added assemblies and commercial tooling are expected to improve. With the continued slowdown in the U.S. economy and weak demand for the PC market globally, the Directors are of the view that the outlook ahead will be challenging for the Group.

The Directors expect to release the Company's half-year results before the end of August.

Submitted by Wesley H Burkhart, Director on 18/07/2001

(Post 55 of 614)   07/18/2001.21:51:36
Author :
Sipost
DISPOSAL OF INTEREST IN U.S. TECHNOLOGY RESOURCES L.L.C. ("USTR")

The Directors of Magnecomp International Limited (the "Company") wishes to announce that Magnecomp Corporation ("Magnecomp"), a wholly-owned subsidiary of the Company, has entered into an agreement with Tricase Holding S.A. ("Tricase") for the sale of its entire interest consisting of 3,500,000 shares in the capital of U.S. Technology Resources L.L.C. ("USTR") to Tricase on a willing buyer-willing seller basis at cost for a consideration of US$450,000 and in addition Tricase will also assume the loan of US$700,000 extended by Magnecomp to USTR.

The transaction is not expected to have any significant impact on the Net Tangible Asset Value and Earnings Per Share of the Company for the financial year ending 31 December 2001.

Mr Gopala Achuta Menon, a Director of the Company and USTR, is also the President of Multitech System Ltd Inc, a subsidiary of Tricase.

Save for as described above, none of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the transaction.

Submitted by Wesley H Burkhart, Director on 18/07/2001

(Post 56 of 614)   07/19/2001.09:32:03
Author :
Bohtiong
PROFIT WARNING FROM
MAGNECOMP INTERNATIONAL LIMITED


SINGAPORE: 18 JULY 2001 – Magnecomp International Limited today announced that owing to the longer than expected slowdown in the electronics industry, the Directors expect that the full year financial results ending 31 December 2001 will be affected significantly.

The Directors are aware that the bases for their expectations in March this year are no longer appropriate. The slackening demand and weak economic and market conditions globally have impacted the PC buying patterns.

The present excess capacity worldwide has affected the Group’s margins. With the slackening demand globally and the softening of product pricing, the Directors expect the Group to incur a loss after tax for the half year ended 30 June 2001 and through the 3rd and 4th quarter of this year.

Mr Wesley Burkhart, Chairman & CEO of Magnecomp International Limited said, “The pricing pressure experienced in the hard disk drive industry is severe. To stay competitive, we have implemented stringent cost management measures and taken steps to improve productivity in our operations”.

OUTLOOK

Suspension assemblies which accounted for 69% of Group’s total turnover for the financial year ended 31 December 2000 will continue to face the slackening demand and pricing pressure. However, sales of stamped components, value added assemblies and commercial tooling are expected to improve. With the continued slowdown in the U.S. economy and weak demand for the PC market globally, the Directors are of the view that the outlook ahead will be challenging for the Group.

# # #


About Magnecomp International Limited
Magnecomp International Limited was established in 1984 and listed on the Mainboard of SGX (Stock Exchange of Singapore) in January 1998. The Magnecomp Group has established itself as a leader in the manufacturing of zero defect suspension assemblies for the disk drive industry. Its other core activities are in stamped components, value added assembly and commercial tooling. Employing more than 3,000 people in strategically located facilities in the People’s Republic of China (PRC), Hong Kong, Thailand, Singapore and the United States, the Group is well positioned to maintain its standing as one of the primary suspension assembly suppliers in the world.

For more information, please contact:-

Yong Kok Hoon/Linda Sim
Magnecomp International Limited
Tel: 535-0689
Fax: 533-2680

Patsy Phay/Adeline Yap
Mileage Communications Pte Ltd
Tel: 222-1678
Fax: 222-5378

(Post 57 of 614)   08/25/2001.16:37:12
Author :
Diplo
MAGNECOMP's controlling shareholder, Advantec International NV has on 15 Aug 2001 sold via married deal 12,937,000 shares, representing 6.43% of the company at US$0.50!

Identity of buyer still unknown, and why wld they pay US$0.50, when price is at SGD0.52? See this announcement for more details.

I'm a stuckist from around S$0.70 level....if US$0.50 means mysterious buyer paid S$0.875 for his stake. Given to strategic partner? Or is it a stockist/syndicate play in the making?

Can any one shed any light on what is going on here?


(Post 58 of 614)   08/28/2001.16:01:20
Author :
Debra
anyone holding this stock?? later it will announce 1h01 results, should be quite bad, mgt expect net loss for the full year. SO better sell now if there is buyer

(Post 59 of 614)   08/28/2001.16:22:08
Author :
Debra
aiyo, not even got buyer ****SIGH**** anyone wants to try q at 0.20, maybe can get

(Post 60 of 614)   08/28/2001.17:16:48
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITEDRECORDED 23% INCREASE IN TURNOVER FOR ITS HALF YEAR

SINGAPORE: 28 AUGUST 2001 - Magnecomp International Limited's turnover increased by 23% to reach $89.3 million for the half year ended 30 June 2001 compared to $72.8 million for the corresponding period last year. This increase was due largely to higher sales achieved by its Office Automation and Consumer Electronics Components Division.

Group operating profit before tax declined from $6.5 million to $1.1 million for the six-month period ended 30 June 2001. The reduction in profitability was primarily attributed to reduced contributions from the Data Storage Components Division (a loss of $2.9 million as compared to a profit of $3.9 million for the same period last year). Adverse market conditions in addition to pre-operating expenses from Optimal Technology were significant factors affecting the Division's profitability.

Mr Wesley Burkhart, Chairman & CEO of Magnecomp International Limited stated, "Difficult conditions in the Data Storage industry have significantly affected the portions of our business that serve this segment. Suspension Assembly margins have been squeezed and sales of PC related stamped components have also been reduced. However, the overall Office Automation and Consumer Electronics Components Division has shown tremendous growth. Additionally, Optimal Technology has begun to receive orders and has also begun volume manufacturing."

The slowdown in the global PC market is expected to continue into the second half of the financial year. Shipments of Suspension Assemblies for both wireless and conventional types are expected to be lower for the second half as compared to the same period last year. Although the sales and profitability from the Office Automation Consumer and Electronics Components Division will improve, it is unlikely to be sufficient to offset the losses anticipated from the Data Storage Components Division. Unless there is a turnaround in the global PC market in the near term, the Directors expect the Group to incur a loss for the second half of the year.

Submitted by Loh Shu Chun, Company Secretary on 28/8/2001

(Post 61 of 614)   08/29/2001.17:35:42
Author :
Sipost1
Research reproduced with permission from DMG

Negative earning outlook

Details

· Although sales increased by 23% to S$89.3m, net profit plunged 89% to S$0.7m for 1H01. Operating margin was squeezed substantially from 8.9% to 1.3% and EPS was reduced significantly from 3cts to 0.3cts in 1H01.

The results are much worse than market expectation of 10.4cts for FY01.

Impact

· In view of the sluggish PC market, management estimates a loss in the 2H.

Recommendation

· Valuation at 170x FY01F earnings (EPS: 0.3 cts) is extremely high, but NTA of 57.8cts provides some support for the stock price. Maintain SELL amid poor outlook for 2H.

(Post 62 of 614)   08/29/2001.17:46:11
Author :
Debra
DMG,
i refer to your sentence "the results are much worse than market expectation of 10.4cts for FY01". are u sure that is what the market had exepected for magnecomp? or is that just your expectation? we have been expecting a loss for FY01 as was guided by the mgt in july.

(Post 63 of 614)   11/26/2001.09:13:22
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

NOTICE OF EXTRAORDINARY GENERAL MEETING


NOTICE IS HEREBY GIVEN that an EXTRAORDINARY GENERAL MEETING of the Company will be held at Bras Basah Room A, Westin Stamford & Westin Plaza, 2 Stamford Road, Singapore 178882 on Tuesday, 18 December 2001 at 10.00 a.m. for the purpose of considering and, if thought fit, passing the following resolutions with or without any modifications:-

1. Special Resolution: Amendments to the Articles of Association
That the Articles of Association of the Company be amended as follows:-

1.1 Article 47A

The following new Article 47A be inserted immediately after the existing Article 47:-

"47A. Subject to and in accordance with the provisions of the Act, the listing rules of the Singapore Exchange Securities Trading Limited, and other written law, the Company may purchase or otherwise acquire ordinary shares, stocks, preference shares, options, debentures, debenture stocks, bonds, obligations, securities, and all other equity, derivative, debt and financial instruments issued by it on such terms as the Company may think fit and in the manner prescribed by the Act. All shares purchased by the Company shall be cancelled immediately on purchase or acquisition by the Company. On the cancellation of any share as aforesaid, the rights and privileges attached to that share shall expire. In any other instance, the Company may deal with any such share which is so purchased or acquired by it in such manner as may be permitted by, and in accordance with, the Act."

1.2 Article 48

The existing Article 48 be amended by inserting the following sentence at the end of the existing Article 48:-

"Without prejudice to the generality of the foregoing, upon cancellation of a share purchased or otherwise acquired by the Company pursuant to these Articles and the Act, the nominal amount of the issued share capital of the Company shall be diminished by the nominal amount of the share so cancelled."

2. Ordinary Resolution: Share Buyback Mandate

That subject to Resolution 1 being approved:-

(a) for the purposes of Sections 76C and 76E of the Companies Act (Cap. 50), the exercise by the Directors of the Company of all the powers of the Company to purchase or otherwise acquire ordinary shares of $0.10 each ("Shares") in the issued share capital of the Company not exceeding in aggregate the Prescribed Limit (as hereafter defined), at such price(s) as may be determined by the Directors of the Company from time to time up to the Maximum Price (as hereafter defined), whether by way of:-

(i) market purchases (each a "Market Purchase") on the Singapore Exchange Securities Trading Limited ("SGX-ST"); and/or

(ii) off-market purchases (each an "Off-Market Purchase") effected otherwise than on the SGX-ST in accordance with an equal access scheme as may be determined or formulated by the Directors of the Company as they consider fit, which scheme shall satisfy all the conditions prescribed by the Act,

and otherwise in accordance with all other laws, regulations and rules of the SGX-ST as may for the time being be applicable, be and is hereby authorised and approved generally and unconditionally (the "Share Buyback Mandate");

(b) unless varied or revoked by the Company in general meeting, the authority conferred on the Directors of the Company pursuant to the Share Buyback Mandate may be exercised by the Directors at any time and from time to time during the period commencing from the passing of this Resolution and expiring on the earlier of:-

(i) the date on which the next annual general meeting of the Company is held; and

(ii) the date by which the next annual general meeting of the Company is required by law to be held; and

(c) the Directors of the Company be and are hereby authorised to complete and do all such acts and things (including executing such documents as may be required) as they may consider expedient or necessary to give effect to the transactions contemplated by this Resolution.

In this Resolution:-

"Prescribed Limit" means 10% of the issued ordinary share capital of the Company as at the date of passing of this Resolution; and

"Maximum Price" in relation to a Share to be purchased, means an amount (excluding brokerage, stamp duties, applicable goods and services tax and other related expenses) not exceeding:-

(i) in the case of a Market Purchase : One hundred and five per cent. (105%) of the Average Closing Price

(ii) in the case of an Off-Market Purchase : One hundred and twenty per cent. (120%) of the Highest Last Dealt Price

where:-

"Average Closing Price" means the average of the closing market prices of a Share over the last five (5) market days on which transactions in Shares were recorded, preceding the day of the Market Purchase;

"Highest Last Dealt Price" means the highest price transacted for a Share as recorded on the market day on which there were trades in Shares immediately preceding the day of the making of the offer pursuant to the Off-Market Purchase; and

"day of the making of the offer" means the day on which the Company announces its intention to make an offer for the purchase of Shares from shareholders of the Company stating the purchase price (which shall not be more than the Maximum Price calculated on the foregoing basis) for each Share and the relevant terms of the equal access scheme for effecting the Off-Market Purchase.

The source of funds for purchasing Shares pursuant to the Share Buyback Mandate and the impact on the Company's financial position are set out in the Circular to Shareholders dated 26 November 2001.

By Order of the Board

Yvonne Choo
Secretary

26 November 2001
SINGAPORE

Notes:-

(1) A shareholder entitled to attend and vote at the said Meeting is entitled to appoint a proxy to attend and vote instead of him. A proxy need not be a shareholder of the Company.

(2) The instrument appointing a proxy or proxies must be deposited at the registered office of the Company at 10 Collyer Quay #19-08 Ocean Building, Singapore 049315 not less than 48 hours before the time appointed for the said Meeting or any adjournment thereof.
Submitted by Yvonne Choo, Company Secretary on 26/11/2001 to the SGX

(Post 64 of 614)   11/26/2001.12:39:08
Author :
Lark
Look and consider. NTA 57 now 32.5 cents. Coy buying back shares. So maybe worth considering.

(Post 65 of 614)   11/26/2001.12:40:57
Author :
Lark
Reading in between the lines. Look quite interesting that off market the coy will buy at the max 120% above the market price. Hint hint.

(Post 66 of 614)   11/27/2001.13:19:54
Author :
Lark
Moneycome. I heard this one moneycome very soon.

(Post 67 of 614)   11/27/2001.13:22:20
Author :
Lark
*hint* Moneycome.

(Post 68 of 614)   12/04/2001.09:03:52
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

PRESS RELEASE - HUTCHINSON TECHNOLOGY AND MAGNECOMP SIGN CROSS-LICENSING AGREEMENT


HUTCHINSON TECHNOLOGY CONTACT: MAGNECOMP CONTACT:
Connie Pautz Yong Kok Hoon
Communications Manager Chief Financial Officer
Hutchinson Technology Magnecomp International Limited
320-587-1823 65-5350689

HUTCHINSON TECHNOLOGY AND MAGNECOMP SIGN CROSS-LICENSING AGREEMENT

Companies Also Agree to Dismiss Litigation Pending Between Them
HUTCHINSON, Minn. & SINGAPORE, 4 December, 2001 --- Hutchinson Technology Incorporated (Nasdaq/NMS: HTCH) and Magnecomp International Limited (SGX : MAGNEC) and its affiliates announced today that they have signed a cross-licensing agreement pertaining to Trace Suspension Assemblies (TSAs), as well as other suspension assembly technology and features. TSA suspensions enable the wireless attachment of the recording heads in a disk drive to the rest of the disk drive's electronic circuitry. Details of the cross-licensing agreement were not disclosed.

Hutchinson Technology and Magnecomp also agreed to dismiss all litigation pending between the parties in the United States District Court for the District of Minnesota. All claims asserted by the parties against each other will be dismissed with prejudice.

Wes Burkhart, Magnecomp's chief executive officer, said: "We are very pleased to have the lawsuit behind us and to have a cross-license in place that assures our customers and the industry that Hutchinson Technology and Magnecomp will be able to deliver the products necessary for continued advancement of disk drive suspension technology."

Wayne M. Fortun, Hutchinson Technology's president and chief executive officer, said the cross-licensing agreement with Magnecomp further expands customers' options for sourcing TSA suspensions. "We are committed to working with the disk drive industry's suppliers to ensure multiple sources for TSA suspensions through sales of TSA components as well as licensing agreements for our proprietary technology," said Fortun.

Hutchinson Technology, www.htch.com, is the leading worldwide supplier of suspension assemblies for disk drives.

Magnecomp International Limited, www.magnecomp.com, is a leading worldwide supplier of suspension assemblies for disk drives through its Data Storage Components Division.

Submitted by Loh Shu Chun, Company Secretary on 4/12/2001 to the SGX

(Post 69 of 614)   01/17/2002.22:31:19
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

Incorporation of New Subsidiaries


The Directors announce that Mansfield Manufacturing Co Ltd ("Mansfield"), a subsidiary of Magnecomp International Limited (the "Company") in Hong Kong, has invested and/or registered the following companies:-

1) Feng Chuan Tooling Company Limited ("Feng Chuan")
Feng Chuan, incorporated in Hong Kong, is a wholly-owned subsidiary of Mansfield and has an authorized and paid-up capital of HK$10,000.00 and HK$2.00 respectively. Its principal activities are investment holding, tooling and die making business.

2) Magix Mechatronics (Dongguan) Company Limited ("Magix")
Magix, registered in the People's Republic of China ("PRC"), is a wholly-owned subsidiary of Magix Mechatronics Co. Ltd which is a subsidiary of Mansfield. Magix has a registered capital of HK$10,000,000 and its principal activity is sub-assembly of office automation equipment in the PRC.

3) Mansfield (Suzhou) Manufacturing Company Limited ("Mansfield (Suzhou)")
Mansfield (Suzhou), registered in the People's Republic of China ("PRC"), is a wholly-owned subsidiary of Mansfield in Hong Kong. It has a registered capital of HK$50,000,000 and its principal activities are metal stamping, tooling and die making in the PRC.

The purpose for the investment and establishment of the above subsidiaries is to enable the Company to expand its business activities and to tap on the resources in the PRC markets.

None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the transactions.

By Order of the Board
MAGNECOMP INTERNATIONAL LIMITED

Submitted by Loh Shu Chun, Company Secretary on 17/01/2002 to the SGX

(Post 70 of 614)   01/23/2002.10:58:17
Author :
Zero_one
This is a good recovery play for the disk drive industry. For investors only. Not an inducement to buy.

(Post 71 of 614)   01/28/2002.22:03:52
Author :
Zero_one
Why so quiet here?

(Post 72 of 614)   01/31/2002.22:14:14
Author :
Diplo
On 24 Jan 2002, DBS Vickers initiated coverage on Magnecomp with a strong buy recommendation, citing it as another Seagate beneficiary. Then trading at 40c and according its an Outperform rating, DBS said Magnecomp had a 12-month price target of S$0.60.

"It is a cheap entry into the recovering HDD industry as one of two suppliers of suspension assemblies to Seagate", DBS said. However, this week the stock has seem a flood of stale bull selling that has capped Magnecomp's stock price below 50c. I recommend SI players to keep a very close watch on Magnecomp because it smells like active collection by IH....I can only guess that something big must brewing in the background.

If you have an idea what that, please share?

Diplo

(Post 73 of 614)   02/17/2002.15:58:17
Author :
Mlee
On 21 Jan 2002, Terence Wong of JM Sassoon has already initiated a buy for this counter. This is a good counter to get in if you believe in the HDD recovery

No vested interest

(Post 74 of 614)   02/17/2002.17:07:52
Author :
Simguanheng
Disguised beneficiary of a HDD recovery - stay away!

Ask the analysts to get their facts right! It is a LT trend in decreasing number of suspensions as the compression density increases. The correlation to the Seagateˇ¦s units shipment declines on the fact that number of suspensions per drive has been decreasing.

Watch out for KR Precision for a major dumping in the market for "self-help"; the last time I saw them in Thailand, it reminds me of Hynix in Korea.

(Post 75 of 614)   02/17/2002.17:35:02
Author :
7738ok
Hi,
I've also read about the trend that fewer heads per drive will be used as higher areal-density platters are developed. With fewer platters to achieve greater storage space means that fewer suspension assemblies will be required.

This is a negative trend and will definitely affect its performance.

Caution. No Vest interest in this one.

(Post 76 of 614)   02/17/2002.20:28:29
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

DEMISE OF CHAIRMAN/CEO


The Directors of Magnecomp International Limited announce with deep sadness, the passing away of Wesley H. Burkhart, Chairman and CEO.

By Order of the Board

Yvonne Choo
Company Secretary
Submitted by Yvonne Choo, Company Secretary on 16/02/2002 to the SGX

(Post 77 of 614)   02/19/2002.17:43:12
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

APPOINTMENT OF CHAIRMAN, DIRECTORS AND EXECUTIVE COMMITTEE


It is with deep regret that Magnecomp International Limited ("the Company") has to record the passing away of Mr Wesley H. Burkhart, the Founder, Chairman and Chief Exectuive Officer of the Company on 14 February 2002.

This sad event has necessitated a few changes in the organisation.

The Directors of the Company would like to announce the following :

CHAIRMAN

The appointment of Mr Gopala Achuta Menon as non-executive Chairman. Mr Menon, has had a long association with the Magnecomp group of companies ("the Group"), having co-founded Magnecomp Corporation in the USA (a wholly-owned subsidiary) in 1984 together with Mr Wesley H Burkhart.

Mr Menon is also non-executive Chairman of Venture Manufacturing (Singapore) Ltd.

DIRECTORS

The appointments of Messrs Albert Ong Kim Guan, To Wai Hung and Yong Kok Hoon as Directors.

Mr Albert Ong Kim Guan has been with the Group since late 1998 and is concurrently President of its Data Storage Components division.

Mr To Wai Hung, currently President of the Group's Office Automation and Consumer Electronics division, started his career with the subsidiary, Mansfield Manufacturing Company Limited, in 1978.

Mr Yong Kok Hoon joined the Group as Chief Financial Officer in 1999.

EXECUTIVE COMMITTEE

The formation of an Executive Committee which comprises the following members :

n Gopala Achuta Menon – Chairman
n Albert Ong Kim Guan
n To Wai Hung
n Yong Kok Hoon

The Executive Committee would oversee the overall management of the Group until a suitable candidate is appointed to the office of Chief Executive Officer.

The above appointments are effective from 18 February 2002.

The Directors would like to record its appreciation for the invaluable contributions of Mr Wesley H Burkhart.

BY ORDER OF THE BOARD

YVONNE CHOO
COMPANY SECRETARY

Submitted by Yvonne Choo, Company Secretary on 19/02/2002 to the SGX

(Post 78 of 614)   02/19/2002.17:43:33
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

Announcement Of Appointment Of Director

Date of appointment: 18 Feb 2002

Name: ALBERT ONG KIM GUAN

Age: 39

Country of principal residence: HONG KONG

Whether appointment is executive, and if so, the area of responsibility: Executive. President, Data Storage Components Division
Managing Director, Optimal Technology Limited

Working experience and occupation(s) during the past 10 years: December 1998 - Present
Magnecomp International Limited
President, Data Storage Components Division

February 1996 - November 1998
Western Digital, San Jose, California, USA
Senior Director, Advance Manufacturing Development

July 1994 - February 1996
Western Digital Malaysia, Petaling Jaya, Malaysia
Director, Engineering

September 1992 - June 1994
Western Digial Drives, San Jose, California, USA
Manager, Headstock Assembly Engineering

March 1992 - July 1992
National Science and Technology Board, Singapore
Business Development Manager,
Systems/Microelectronics Industries

January 1988 - March 1992
Western Digital (S) Pte Ltd, Singapore
Engineering Manager

Other directorships

Past:
None

Present:
Indest Corporation
Magnecomp Corporation
Magnecomp Technology Limited
Magnecomp Flextures Limited
Magnecomp (Thaliand) Limited
Mansfield Manufacturing Company Limited
Lens Tool & Die (H.K.) Limited
Go Smart Development Limited
Magix Mechatronics Company Limited
Ideal Tools Limited
Topfield Development Limited
Fuchimag Technology Limited
Magnecomp Holdings Far East Limited
Optimal Technology Limited
Shareholding in the listed issuer and its subsidiaries: NIL

Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None

Conflict of interest: None

Declaration by a Director, Executive Officer or Controlling Shareholder as Required
( Per Appendix 15)
-
1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ?
No

1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner?
No

1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ?
No

2. Are there any unsatisfied judgements outstanding against you ?
No

3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ?
No

4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ?
No

5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ?
No

6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation?
No

7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company?
No

8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ?
No

9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership?
No

Submitted by Yvonne Choo, Company Secretary on 19/02/2002 to the SGX

(Post 79 of 614)   02/19/2002.17:44:12
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

Announcement Of Appointment Of Director

Date of appointment: 18 Feb 2002

Name: YONG KOK HOON

Age: 45

Country of principal residence: SINGAPORE

Whether appointment is executive, and if so, the area of responsibility: Executive. Treasury, Financial Management and Investor Relations

Working experience and occupation(s) during the past 10 years: October 1999 - Present
Chief Financial Officer of Magnecomp International Ltd

January 1996 to October 1999
Group Financial Controller of QAF Limited

January 1995 - December 1995
Partner in Moore Stephens

November 1994 - December 1994
Senior Manager in Ernst & Young

Other directorships

Past:
1. Subsidiaries and Associates of QAF Limited:
Ben & Co (HK) Limited
Ben Foods (B) Sdn Bhd
Ben Foods (East Malaysia) Sdn Bhd
Ben Foods (Malaysia) Sdn Bhd
Boon Pattana Holdings Ltd
Buttercup Bakeries (S) Pte Ltd
Camellia Bakeries (S) Pte Ltd
Cassia Bakeries (S) Pte Ltd
Eurofood (Singapore) Pte Ltd
Everyday Bakery and Confectionary Sdn Bhd
Gardenia Bakeries (KL) Sdn Bhd
Gardenia Bakery & Foodstuff (Tianjin) Co Ltd
Gardenia Foods (Thailand) Ltd
Gardenia Hong Kong Limited
Gardenia International (S) Pte Ltd
Gardenia Sales & Distribution Sdn Bhd
Luoyang Chundu Industry Co Ltd
Maple Bakeries (S) Pte Ltd
Millif Industries Sdn Bhd
Myanmar D.F.S. Limited
Osa Marketing Associates Pte Ltd
Osa Marketing Associates (M) Sdn Bhd
Precious Fortune Limited
Q-Carrier (B) Sdn Bhd
QAF Agencies (S) Pte Ltd
QAF Auto Sdn Bhd
QAF Fruits Cold Store Pte Ltd
QAF Holdings Bhd
QAF (HK) Limited
QAF Investments Sdn Bhd
QAF OIL HK Limited
QAF Lamba Foods Distribution (Bombay) Pvt Ltd
QAF Management Services (S) Pte Ltd
Spices of the Orient Inc.
Smart (B) Sdn Bhd

2. Moore Stephens Consultants Pte Ltd

Present:
Go Smart Development Limited
Lens Tool & Die (H.K.) Limited
Magnecomp Flextures Limited
Magnecomp (Thailand) Limited
Mansfield Manufacturing Company Limited
Indest Corporation (USA)
Magnecomp Corporation (USA)
Magnecomp Technology Limited
Topfield Development Limited
Magnecomp Holdings Far East Limited
Optimal Technology Limited
Mansfield (Suzhou) Manufacturing Company Limited
Feng Chuan Tooling Company Limited
Shareholding in the listed issuer and its subsidiaries: Nil

Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None

Conflict of interest: None

Declaration by a Director, Executive Officer or Controlling Shareholder as Required
( Per Appendix 15)
-
1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ?
No

1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner?
No

1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ?
No

2. Are there any unsatisfied judgements outstanding against you ?
No

3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ?
No

4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ?
No

5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ?
No

6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation?
No

7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company?
No

8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ?
No

9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership?
No

Submitted by Yvonne Choo, Company Secretary on 19/02/2002 to the SGX

(Post 80 of 614)   02/19/2002.17:44:19
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

Announcement Of Appointment Of Director

Date of appointment: 18 Feb 2002

Name: YONG KOK HOON

Age: 45

Country of principal residence: SINGAPORE

Whether appointment is executive, and if so, the area of responsibility: Executive. Treasury, Financial Management and Investor Relations

Working experience and occupation(s) during the past 10 years: October 1999 - Present
Chief Financial Officer of Magnecomp International Ltd

January 1996 to October 1999
Group Financial Controller of QAF Limited

January 1995 - December 1995
Partner in Moore Stephens

November 1994 - December 1994
Senior Manager in Ernst & Young

Other directorships

Past:
1. Subsidiaries and Associates of QAF Limited:
Ben & Co (HK) Limited
Ben Foods (B) Sdn Bhd
Ben Foods (East Malaysia) Sdn Bhd
Ben Foods (Malaysia) Sdn Bhd
Boon Pattana Holdings Ltd
Buttercup Bakeries (S) Pte Ltd
Camellia Bakeries (S) Pte Ltd
Cassia Bakeries (S) Pte Ltd
Eurofood (Singapore) Pte Ltd
Everyday Bakery and Confectionary Sdn Bhd
Gardenia Bakeries (KL) Sdn Bhd
Gardenia Bakery & Foodstuff (Tianjin) Co Ltd
Gardenia Foods (Thailand) Ltd
Gardenia Hong Kong Limited
Gardenia International (S) Pte Ltd
Gardenia Sales & Distribution Sdn Bhd
Luoyang Chundu Industry Co Ltd
Maple Bakeries (S) Pte Ltd
Millif Industries Sdn Bhd
Myanmar D.F.S. Limited
Osa Marketing Associates Pte Ltd
Osa Marketing Associates (M) Sdn Bhd
Precious Fortune Limited
Q-Carrier (B) Sdn Bhd
QAF Agencies (S) Pte Ltd
QAF Auto Sdn Bhd
QAF Fruits Cold Store Pte Ltd
QAF Holdings Bhd
QAF (HK) Limited
QAF Investments Sdn Bhd
QAF OIL HK Limited
QAF Lamba Foods Distribution (Bombay) Pvt Ltd
QAF Management Services (S) Pte Ltd
Spices of the Orient Inc.
Smart (B) Sdn Bhd

2. Moore Stephens Consultants Pte Ltd

Present:
Go Smart Development Limited
Lens Tool & Die (H.K.) Limited
Magnecomp Flextures Limited
Magnecomp (Thailand) Limited
Mansfield Manufacturing Company Limited
Indest Corporation (USA)
Magnecomp Corporation (USA)
Magnecomp Technology Limited
Topfield Development Limited
Magnecomp Holdings Far East Limited
Optimal Technology Limited
Mansfield (Suzhou) Manufacturing Company Limited
Feng Chuan Tooling Company Limited
Shareholding in the listed issuer and its subsidiaries: Nil

Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None

Conflict of interest: None

Declaration by a Director, Executive Officer or Controlling Shareholder as Required
( Per Appendix 15)
-
1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ?
No

1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner?
No

1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ?
No

2. Are there any unsatisfied judgements outstanding against you ?
No

3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ?
No

4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ?
No

5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ?
No

6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation?
No

7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company?
No

8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ?
No

9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership?
No

Submitted by Yvonne Choo, Company Secretary on 19/02/2002 to the SGX

(Post 81 of 614)   02/19/2002.17:44:46
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

Announcement Of Appointment Of Director

Date of appointment: 18 Feb 2002

Name: TO WAI HUNG

Age: 46

Country of principal residence: HONG KONG

Whether appointment is executive, and if so, the area of responsibility: Executive, President of Office Administration of Consumer Electronics Division

Working experience and occupation(s) during the past 10 years: 2000 to present
Promoted to President of Office Automation & Consumer Electronics Division, Mansfield Manufacturing Company Limited

1992 to 1999
Promoted to General Manager & Executive Director, Mansfield Manufacturing Company Limited

1978 to 1991
Joined Mansfield Manufacturing Company Limited as director of Tooling Division



Other directorships

Past:
None

Present:
Mansfield Manufacturing Company Limited
Lens Tool & Die (H.K.) Limited
Go Smart Development Limited
Magix Mechantronics Company Limited
Topfield Development Limited
Magix Mechatronics Company Limited
Magix Mechatronics (Dongguan) Company Limited
Mansfield (Suzhou) Manufacturing Company Limited
Shunde Mansfield Manufacturing Company Limited
Feng Chuan Tooling Company Limited
Shareholding in the listed issuer and its subsidiaries: Nil

Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None

Conflict of interest: None

Declaration by a Director, Executive Officer or Controlling Shareholder as Required
( Per Appendix 15)
-
1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ?
No

1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner?
No

1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ?
No

2. Are there any unsatisfied judgements outstanding against you ?
No

3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ?
No

4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ?
No

5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ?
No

6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation?
No

7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company?
No

8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ?
No

9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership?
No

Submitted by Yvonne Choo, Company Secretary on 19/02/2002 to the SGX

(Post 82 of 614)   02/20/2002.17:30:58
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

CORPORATE DISCLOSURE POLICY


20 February 2002

The Listings Manager
Singapore Exchange Limited
2 Shenton Way #19-00
SGX Centre 1
Singapore 068804

Dear Sir

MAGNECOMP INTERNATIONAL LIMITED - "the Company"
LIST OF PERSONS OCCUPYING MANAGERIAL POSITIONS WHO ARE RELATED TO A DIRECTOR OR SUBSTANTIAL SHAREHOLDER

Pursuant to Clause 902(3)(c) of the Listing Manual, we confirm that there are no persons occupying managerial positions who are related to a director or substantial shareholder of the Company.

Yours faithfully

Yvonne Choo
Company Secretary

Submitted by Yvonne Choo, Company Secretary on 20/02/2002 to the SGX

(Post 83 of 614)   02/21/2002.18:00:27
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

MEDIA RELEASE


MAGNECOMP INTERNATIONAL LIMITED

ANNOUNCES THE APPOINTMENTS OF NON-EXECUTIVE

CHAIRMAN AND THREE DIRECTORS

SINGAPORE: 19 FEBRUARY 2002 – Magnecomp International today announced the appointment of Mr Gopala Achuta Menon as its non-executive Chairman following the demise of Mr Wesley H. Burkhart, the Founder, Chairman and Chief Executive Officer on 14 February 2002.
Mr Menon has had a long association with the Magnecomp group of companies ("The Group"). He co-founded Magnecomp Corporation in the USA (a wholly-owned subsidiary) in 1984 together with Mr Wesley H. Burkhart and has been a member of the Board since the company's incorporation. Mr Menon who holds a Masters' Degree in Mathematics from Madras University, India, and a Masters' Degree in Business Administration from Harvard University, USA, is also the non-executive Chairman of Venture Manufacturing (Singapore) Ltd. He had worked for 15 years in IBM where he held various executive and technical appointments. Mr Menon is also a Director of numerous companies in both Asia and the U.S.

Magnecomp International also announced the appointments of Messrs Albert Ong Kim Guan, To Wai Hung and Yong Kok Hoon as Directors. All the appointments are effective from 18 February 2002.

Mr Albert Ong Kim Guan who is currently the President of its Data Storage Components Division, has been with the Group since late 1998. Prior to joining the Magnecomp Group, Mr Ong was with Western Digital for over 10 years serving in various senior management positions in Malaysia, Singapore and the U.S. All in all, Mr Ong's experience in the data storage business is in excess of 15 years. Mr Ong graduated with a Bachelor of Engineering (Electrical) degree from the University of Western Australia and a post-graduate Diploma in Business Administration from the Singapore Institute of Management.

Mr To Wai Hung, currently President of the Group's Office Automation and Consumer Electronics Division, founded the Group's subsidiary, Mansfield Manufacturing Company Limited, in 1978. He is also active in the business community. Mr To is currently the Vice Chairman of the Hong Kong Mould & Die Council and the Hong Kong Metals Manufacturers Association. He is also the Director of Mechanics of the Hong Kong Critical Components Manufacturers Association and a Board Member of the Vocation Training Council – The Metals Training Board in Hong Kong. Mr To brings to the Group a wealth of experience and expertise in the business operations.

Mr Yong Kok Hoon who is the Chief Financial Officer, joined the Group in 1999. A Certified Public Accountant and a Fellow of the Association of Chartered Certified Accountants, Mr Yong also holds a Masters' degree in Business Administration from the International Management Centre, Buckingham, United Kingdom. Mr Yong has more than 18 years of financial and management experience, having spent the initial years of his career in international public accounting firms as a senior audit manager and later as audit partner serving a variety of clients ranging from major listed companies and conglomerates to foreign multinationals. Prior to his appointment at Magnecomp, Mr Yong was the Group Financial Controller of main-board listed QAF Limited.

"We are saddened by the sudden death of Mr Wesley Burkhart. Mr Burkhart has made invaluable contributions to the Magnecomp Group. Since his founding of the company in 1984, the Group has grown to a turnover of S$168 million (as at 31 December 2000). Under Mr Burkhart's leadership, he has also built a very strong and capable management team which is able to oversee the Group's business operations in his absence," said Mr Gopala Achuta Menon.

Magnecomp International also announced the formation of an Executive Committee to oversee the overall management of the Group until a suitable candidate is appointed as the Chief Executive Officer. Members of the Executive Committee include:-

Mr Gopala Achuta Menon – Chairman

Mr Albert Ong Kim Guan

Mr To Wai Hung

Mr Yong Kok Hoon

# # #

About Magnecomp International Limited

Magnecomp International Limited was listed on the main board of the Singapore Exchange in January 1998. Its operations are divided into two divisions, the Data Storage Components Division and the Office Automation and Consumer Electronics Components Division.

The primary components manufactured by the Data Storage Components Division are Suspension Assemblies. Suspension Assemblies are precise metal assemblies that hold the read/write device above the spinning disks in rigid and a portion of removable disk drives.

The Office Automation and Consumer Electronics Components Division provides a wide range of precision stamped components, assembly services and commercial tooling for a variety of customers worldwide. This Division, based in Southern China, has become one of the most respected components suppliers in the region.

For more information, please contact:-

Yong Kok Hoon/Linda Sim Patsy Phay/Elaine Seah

Magnecomp International Limited Mileage Communications Pte Ltd

Tel: 535-0689 Tel: 222-1678

Fax: 533-2680 Fax: 222-5378
Submitted by Yvonne Choo, Company Secretary on 20/02/2002 to the SGX

(Post 84 of 614)   03/04/2002.17:24:55
Author :
Sipost
MEDIA RELEASE - MAGNECOMP INTERNATIONAL LIMITED EXPECTS
TO TURNAROUND DESPITE A SMALL LOSS IN FY2001


SINGAPORE: 4 MARCH 2002 – Magnecomp International Limited's Group turnover increased by 21% to reach $201.4 million for the financial year ended 31 December 2001 compared to $165.8 million for the previous year. The increase was due largely to higher sales from the Office Automation and Consumer Electronics Components division – an increase of 68% over last year. Under this division, the Stamped Components and Subassembly business enjoyed increase in business as a result of Japanese customers relocating their manufacturing base to South China.

The slowdown in the PC market resulted in the Data Storage Components division recording a relatively flat (0.5%) increase in its turnover over the previous financial year. As a result, there were reduced shipments of suspension from 124 million units to 109 million units for the year compared to the same period last year. The newly set-up subsidiary for Flex-circuit Suspension Assembly ("FSA") (Optimal Technology Limited) started shipment in the year 2001 and contributed 8 million units of FSA to the total shipment of this division. The strengthening of the US dollars also contributed to the higher turnover as the billings for the Group are done in US$.

Despite the increase in revenue, the Group suffered a net loss of $2.97 million for the financial year ended 31 December 2001 as compared to a net profit of $11.24 million for the previous year. This loss was in line with the profit warning issued by the Group in July 2001.

The loss was attributed mainly to start-up losses of joint venture companies, provision for loss of investment in ICX U.S.A., lower gross margins and legal expenses incurred in respect of the recently settled case amounting to a total of $9.1 million. The legal case between the Magnecomp group and Hutchinson Technology Inc. resulted in the signing of a settlement and licence agreement on 30 November 2001.

Mr Gopala Achuta Menon, non-Executive Chairman of Magnecomp International Limited said, "If not for the provisions made and the legal expenses incurred for the financial year under review, the Group would have been profitable. The slowdown in the PC market had an impact on the Data Storage Components division. This division incurred a loss of $6.9 million compared to a profit of $7.8 million for the previous year".

"The Office Automation and Consumer Electronics Components division achieved a profit of $7.5 million compared to a profit of $5.1 million for the same period last year. This increase was due largely to higher sales volume of tooling and subassembly units which command higher margins. The profitability of this division compensated for the loss incurred by the Data Storage Components division," added Mr Menon.

NTA per share decreased from 57.6 cents for the previous financial year to 55.2 cents for financial year ended 31 December 2000.

Year 2001 had been a very challenging one for the Group due to the PC market and the U.S. economy which slowed down considerably. In view of this, shipments of suspension assemblies for both wireless and the conventional types had been affected.

Mr Menon said " However, the Data Storage Components division is expected to return to profitability in the current financial year with the settlement of the legal suit with Hutchinson and the full operation of Optimal Technology, the joint-venture company with SAE. Performance of the Office Automation and Consumer Electronics Components division is expected to continue to improve and to be better than that of 2001."

The Group will continue to focus on strengthening its core competencies to improve its performance. At the same time, the Group has also positioned itself for a recovery in the PC market. Barring any unforeseen circumstances, the Directors expect the Group to return to profitability in the current financial year.

No dividend has been declared for the financial year ended 31 December 2001.

# # #

About Magnecomp International Limited
Magnecomp International Limited was listed on the main board of the Singapore Exchange in January 1998. Its operations are divided into two divisions, the Data Storage Components Division and the Office Automation and Consumer Electronics Components Division.

The primary components manufactured by the Data Storage Components Division are Suspension Assemblies. Suspension Assemblies are precise metal assemblies that hold the read/write device above the spinning disks in rigid and a portion of removable disk drives.

The Office Automation and Consumer Electronics Components Division provides a wide range of precision stamped components, assembly services and commercial tooling for a variety of customers worldwide. This Division, based in Southern China, has become one of the most respectable components suppliers in the region.

For more information, please contact:-

Yong Kok Hoon/Linda Sim
Magnecomp International Limited
Tel: 535-0689
Fax: 533-2680

Patsy Phay/Elaine Seah
Mileage Communications Pte Ltd
Tel: 222-1678
Fax: 222-5378
Submitted by Loh Shu Chun, Company Secretary on 04/03/2002 to the SGX

(Post 85 of 614)   03/06/2002.18:42:03
Author :
Sipost
ADDITIONAL INFORMATION ON RESULTS ANNOUNCED ON 4 MARCH 2002

6 March 2002

The Listing Manager
Singapore Exchange Limited
2 Shenton Way #19-00
SGX Centre 1
Singapore 068804

Dear Sir

FULL YEAR RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2001

We provide below additional commentary on the following matters:

(i) Interest Expense ( 2001 - $1,093K , 2000 - $920K )

The increase in interest expense was mainly due to additional interest incurred for bank overdraft and trust receipts from the Office Automation and Consumer Electonics division for its short-term working capital requirements.

(ii) Depreciation and amortisation charges ( 2001 - $18,508K , 2000 - $14,503K)

The increase in depreciation and amortisation charges were mainly due to increase in depreciation arising from the increase in fixed assets additions amounting to $43,718K for 2001 and $30,666K for 2000.

(iii) Income derived from associated companies ( 2001 - $1,597K , 2000 - $1,479K )

The income derived from associated companies reduced from a profit of $1,479K in 2000 to a loss of $1,597K in 2001 mainly due to lower sales of Etched components to Magnecomp Suspension division and legal expenses on patent suit.

Yours faithfully

Yong Kok Hoon
Director
Submitted by Yong Kok Hoon, Director on 06/03/2002 to the SGX

(Post 86 of 614)   03/18/2002.11:16:19
Author :
Gchan
so quiet in this thread???

btw, analyst's visit this afternoon.........

(Post 87 of 614)   03/19/2002.18:34:17
Author :
Gchan
up 10% from my yesterday's posting but this thread is still so empty and quiet....... whereas elsewhere i alway hear "GO GO GO" and "CHEONG CHEONG CHEONG" funny man....

(Post 88 of 614)   03/26/2002.20:48:42
Author :
Kiasuisoh
Quiet meaning we buy and buy slowly and take those shares from weak holder to let us PROFIT FROM IT.

Now we voice out lound lound cos already loaded up enough already.


(Post 89 of 614)   03/27/2002.09:01:41
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

PROPOSED PAYMENT OF GRATUITY TO THE FAMILY OF THE LATE CHAIRMAN AND CEO


Mr Wesley Howard Burkhart, the late Chairman and Chief Executive Officer of Magnecomp International Limited (the "Company"), passed away on 14 February 2002.

Mr Burkhart was a founder of Magnecomp Corporation in the United States of America in 1984. Under his astute leadership, the Magnecomp Group grew from a small entity in the United States to be a leader in the manufacture of zero defect suspension assemblies for the disk drive industry. Today, the Group has more than 5,000 employees in the U.S.A., China, Hongkong, Thailand and Singapore.

Mr Burkhart had contributed valuable knowledge, expertise and services to the Magnecomp Group for over 18 years. The Directors of the Company are of the view that it is only appropriate for the Company to show its appreciation of Mr Burkhart's invaluable contributions to the Group. Therefore, the Directors of the Company have decided to make a gratuity payment of USD800,000 (which is equivalent to 2 years' basic salary of Mr Burkhart) to his family.

The payment will be made in four equal annual instalments of USD200,000 each commencing this year.

The payment would reduce the Net Tangible Asset Value and Earnings Per Share of the Company and the Group by 0.73 cents per share for the financial year ending 31 December 2002.
Submitted by Yong Kok Hoon, Director on 26/03/2002 to the SGX

(Post 90 of 614)   04/01/2002.08:57:48
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

ANNOUNCEMENT IN RELATION TO THE PROPOSED PAYMENT OF GRATUITY TO THE FAMILY OF THE LATE CHAIRMAN AND CEO (THE "GRATUITY PAYMENT")


28 March 2002

Singapore Exchange Limited
2 Shenton Way #19-00
SGX Centre 1
Singapore 068804

Attn: Ms June Sim
Vice President
Issuer Regulation

Dear Sirs

MAGNECOMP INTERNATIONAL LIMITED (THE "COMPANY")
ANNOUNCEMENT IN RELATION TO THE PROPOSED PAYMENT OF GRATUITY TO THE FAMILY OF THE LATE CHAIRMAN AND CEO (THE "GRATUITY PAYMENT")

We refer to your letter dated 27 March 2002 on the subject matter.

The gratuity payment to Mr Burkhart's family is not provided for in his contract of service. However, Mr Burkhart was a founder of the Magnecomp Group. He had contributed over 18 years of valuable service to the Group and had built shareholder value over the years. Management was therefore of the view that it would be appropriate to pay a gratuity to the family of the late Mr Burkhart based on the payment of one month's salary for every year of service. This works out to 18 months. Mr Burkhart rarely consumed his annual leave entitlement during the years he spent with the Company due to his tight and hectic work schedules and his commitment to build the Group. The additional 6 months payment takes into account his sudden demise and his cumulative unconsumed leave over the years. The aggregate payment of USD800,000 amounts to 24 months or 2 years' basic salary.

Section 168 of the Companies Act, Cap. 50 generally prohibits payment by a company to a director of any compensation for loss of office without prior approval by the shareholders of the company. However, Section 168(5)(d) provides that such requirement does not apply to:
"any bona fide payment by way of pension or lump sum payment in respect of past services, including any superannuation or retiring allowance, superannuation gratuity or similar payment, where the value or amount of the pension or payment, except in so far as it is attributable to contributions made by the director, does not exceed the total emoluments of the director in the 3 years immediately preceding his retirement or death".

As the proposed gratuity payment is a bona fide payment in recognition of Mr Burkhart's past contribution and services to the Magnecomp Group, and the quantum is equal to 2 years of Mr Burkhart's last drawn salary, we are of the view that the payment of the gratuity is permitted under Section 168(5)(d).

We trust the above answers the queries in your letter.

Yours faithfully
Magnecomp International Limited

Yong Kok Hoon
Director
Submitted by Yong Kok Hoon, Director on 28/03/2002 to the SGX

(Post 91 of 614)   04/26/2002.13:01:55
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

NOTICE OF ANNUAL GENERAL MEETING


NOTICE IS HEREBY GIVEN that the Sixth Annual General Meeting of the Company will be held at Butterworth Room, Raffles City Convention Centre, 2 Stamford Road, Singapore 178882 on Wednesday 15 May 2002 at 11.00 a.m. for the following purposes:

AS ORDINARY BUSINESS

1. To receive and adopt the Directors' Report and Audited Accounts of the Company for the year ended 31 December 2001 together with the Auditors' Report thereon.
(Resolution 1)

2. To re-appoint Ernst & Young as the Company's Auditors and to authorise the Directors to fix their remuneration.
(Resolution 2)

3. To transact any other ordinary business which may properly be transacted at an Annual General Meeting.

AS SPECIAL BUSINESS

To consider and if thought fit, to pass the following resolutions as Ordinary Resolutions, with or without any modifications:

4. To re-elect the following Directors retiring pursuant to Articles 84 and 89 of the Company's Articles of Association:

Mr Leong Swee Sum (Retiring under Article 84) (Resolution 3)
Mr Albert Ong Kim Guan (Retiring under Article 89) (Resolution 4)
Mr To Wai Hung (Retiring under Article 89) (Resolution 5)
Mr Yong Kok Hoon (Retiring under Article 89) (Resolution 6)

Mr Leong Swee Sum will, upon re-election as a Director of the Company, remain as a member of the Audit Committee and will be considered independent for the purposes of Clause 902(4)(a) of the Listing Manual of the Singapore Exchange Securities Trading Limited.

5. To pass the following resolution pursuant to Section 153(6) of the Companies Act, Cap. 50:-

"That pursuant to Section 153(6) of the Companies Act, Cap. 50, Mr Gopala Achuta Menon be re-appointed as a Director of the Company to hold office until the next Annual General Meeting." [see Explanatory Note (i)]
(Resolution 7)

6. To approve the payment of Directors' fees of S$120,000 for the year ended 31 December 2001 (2000 : S$120,000).
(Resolution 8)

7. Authority to allot and issue shares up to 50 per centum (50%) of issued capital

That pursuant to Section 161 of the Companies Act, Cap. 50 and Clause 941(3)(b) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Directors be and are hereby empowered to allot and issue shares in the Company at any time and upon such terms and conditions and for such purposes as the Directors may, in their absolute discretion, deem fit provided that the aggregate number of shares to be allotted and issued pursuant to this Resolution shall not exceed fifty per centum (50%) of the issued share capital of the Company for the time being, of which the aggregate number of shares to be issued other than on a pro rata basis to all shareholders of the Company shall not exceed twenty per centum (20%) of the existing issued share capital of the Company and that such authority shall, unless revoked or varied by the Company in general meeting, continue in force until the conclusion of the Company's next Annual General Meeting. [See Explanatory Note (ii)]
(Resolution 9)

8. Authority to allot and issue shares under the Magnecomp Employees' Share Option Plan

That pursuant to Section 161 of the Companies Act, Cap. 50, the Directors be and are hereby empowered to allot and issue shares in the capital of the Company to the holders of options granted by the Company under the Magnecomp Employees' Share Option Plan ("the Plan") established by the Company upon the exercise of such options and in accordance with the terms and conditions of the Plan provided always that the aggregate number of additional ordinary shares to be allotted and issued pursuant to the Plan shall not exceed ten per centum (10%) of the issued share capital of the Company from time to time. [See Explanatory Note (iii)]
(Resolution 10)

9. Renewal of Share Buyback Mandate

That:

(a) for the purposes of Sections 76C and 76E of the Companies Act, Cap. 50, the exercise by the Directors of the Company of all the powers of the Company to purchase or otherwise acquire ordinary shares of $0.10 each ("Shares") in the issued share capital of the Company not exceeding in aggregate the Prescribed Limit (as hereafter defined), at such price(s) as may be determined by the Directors of the Company from time to time up to the Maximum Price (as hereafter defined), whether by way of:-
(i) market purchases (each a "Market Purchase") through the Singapore Exchange Securities Trading Limited ("SGX-ST") Central Limit Order Book Trading System on the SGX-ST; and/or

(ii) off-market purchases (each an "Off-Market Purchase") effected otherwise than on the SGX-ST in accordance with an equal access scheme as may be determined or formulated by the Directors of the Company as they consider fit, which scheme shall satisfy all the conditions prescribed by the Act,

and otherwise in accordance with all other laws, regulations and rules of the SGX-ST as may for the time being be applicable, be and is hereby authorised and approved generally and unconditionally (the "Share Buyback Mandate");
(b) unless varied or revoked by the Company in general meeting, the authority conferred on the Directors of the Company pursuant to the Share Buyback Mandate may be exercised by the Directors at any time and from time to time during the period commencing from the passing of this Resolution and expiring on the earlier of:-

(i) the date on which the next annual general meeting of the Company is held; and

(ii) the date by which the next annual general meeting of the Company is required by law to be held; and

(c) the Directors of the Company be and are hereby authorised to complete and do all such acts and things (including executing such documents as may be required) as they may consider expedient or necessary to give effect to the transactions contemplated by this Resolution.

In this Resolution:-

"Prescribed Limit" means 10% of the issued ordinary share capital of the Company as at the date of passing of this Resolution; and

"Maximum Price" in relation to a Share to be purchased, means an amount (excluding brokerage, stamp duties, applicable goods and services tax and other related expenses) not exceeding:-

(i) in the case of a Market Purchase:
One hundred and five per cent. (105%) of the Average Closing Price

(ii) in the case of an Off-Market Purchase:
One hundred and twenty per cent. (120%) of the Highest Last Dealt Price

where:-

"Average Closing Price" means the average of the closing market prices of a Share over the last five (5) market days on which transactions in Shares were recorded, preceding the day of the Market Purchase;

"Highest Last Dealt Price" means the highest price transacted for a Share as recorded on the market day on which there were trades in Shares immediately preceding the day of the making of the offer pursuant to the Off-Market Purchase; and

"day of the making of the offer" means the day on which the Company announces its intention to make an offer for the purchase of Shares from shareholders of the Company stating the purchase price (which shall not be more than the Maximum Price calculated on the foregoing basis) for each Share and the relevant terms of the equal access scheme for effecting the Off-Market Purchase.
(Resolution 11)

By Order of the Board

Yvonne Choo and Loh Shu Chun
Company Secretaries

Singapore
26 April 2002

Explanatory Notes:

(i) The effect of the Ordinary Resolution 7 proposed in item 5 above, is to re-appoint a director who is over 70 years of age. Section 153(6) of the Act provides that this resolution has to be passed by a majority of three-fourths of shareholders voting at the Annual General Meeting of the Company.

(ii) The Ordinary Resolution 9 proposed in item 7 above, if passed, will empower the Directors from the date of the above Meeting until the date of the next Annual General Meeting, to allot and issue shares in the Company. The number of shares which the Directors may allot and issue under this Resolution would not exceed fifty per centum (50%) of the issued share capital of the Company for the time being. For issues of shares other than on a pro rata basis to all shareholders, the aggregate number of shares to be issued shall not exceed twenty per centum (20%) of the existing issued share capital of the Company. This authority will, unless revoked or varied at a general meeting, expire at the next Annual General Meeting of the Company.

(iii) The Ordinary Resolution 10 proposed in item 8 above, if passed, will empower the Directors from the date of the above Meeting until the date of the next Annual General Meeting, to allot and issue shares in the Company. The number of shares which the Directors may allot and issue under this Resolution would not exceed ten per centum (10%) of the issued share capital of the Company for the time being.

Notes:

1. A Member entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend and vote instead of him. A proxy need not be a Member of the Company.

2. If the appointor is a corporation, the proxy must be executed under seal or the hand of its duly authorised officer or attorney.

3. The instrument appointing a proxy must be deposited at the Registered Office of the Company at 10 Collyer Quay, #19-08 Ocean Building, Singapore 049315 not less than forty-eight (48) hours before the time for holding the meeting
Submitted by Yong Kok Hoon, Director on 26/04/2002 to the SGX

(Post 92 of 614)   05/13/2002.17:41:20
Author :
Gamo
good chart

(Post 93 of 614)   05/15/2002.22:17:40
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

ANNUAL GENERAL MEETING


The Board of Directors of Magnecomp International Limited ("the Company") is pleased to announce that at the Annual General Meeting of the Company held on 15 May 2002, all resolutions relating to the matters set out in the Notice were duly passed.
Submitted by Loh Shu Chun, Company Secretary on 15/05/2002 to the SGX

(Post 94 of 614)   05/16/2002.22:26:23
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

Announcement Of Appointment Of Director

Date of appointment: 16 May 2002

Name: ROBERT SEBASTIAAN LETTE

Age: 54

Country of principal residence: SINGAPORE

Whether appointment is executive, and if so, the area of responsibility: NON-EXECUTIVE

Working experience and occupation(s) during the past 10 years: 2001 - Present
Managing Director of Columba Pte Ltd, Singapore

1997 - 2000
Managing Director Dresdner South East Asia Ltd, Singapore

1995 - 1996
Managing Director MeesPierson Asia Ltd

1985 - 1995
Branch Manager Credit Suisse, Singapore

Other directorships

Past:
None

Present:
Alternate Director of Asia Pacific Breweries Ltd
Member of the Board of Governors of United World College of South East Asia, Singapore
Member of the Board of Commissioners of PT Multi Bintang Indonesia, Jakarta, Indonesia
Shareholding in the listed issuer and its subsidiaries: NIL

Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None

Conflict of interest: None

Declaration by a Director, Executive Officer or Controlling Shareholder as Required
( Per Appendix 15)
-
1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ?
No

1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner?
No

1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ?
No

2. Are there any unsatisfied judgements outstanding against you ?
No

3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ?
No

4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ?
No

5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ?
No

6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation?
No

7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company?
No

8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ?
No

9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership?
No

Submitted by Yong Kok Hoon, Director on 16/05/2002 to the SGX

(Post 95 of 614)   05/16/2002.22:26:55
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

Announcement Of Appointment Of Director

Date of appointment: 16 May 2002

Name: BRYAN CHARLES BURKHART

Age: 33

Country of principal residence: U.S.A.

Whether appointment is executive, and if so, the area of responsibility: NON-EXECUTIVE

Working experience and occupation(s) during the past 10 years: Co-owner, Co-founder and Executive Director Fairest Cape Beverage Co Inc. Santa Ana California U.S.A.

Other directorships

Past:
None

Present:
Executive Director, Fairest Cape Beverage Co Inc.
Shareholding in the listed issuer and its subsidiaries: None

Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None

Conflict of interest: None

Declaration by a Director, Executive Officer or Controlling Shareholder as Required
( Per Appendix 15)
-
1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ?
No

1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner?
No

1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ?
No

2. Are there any unsatisfied judgements outstanding against you ?
No

3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ?
No

4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ?
No

5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ?
No

6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation?
No

7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company?
No

8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ?
No

9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership?
No

Submitted by Yong Kok Hoon, Director on 16/05/2002 to the SGX

(Post 96 of 614)   05/16/2002.22:27:18
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

CHANGES TO THE BOARD OF DIRECTORS AND COMMITTEES


The Board of Directors of Magnecomp International Limited ("the Company") announces that Mr Ng Yean Kiat resigned as a Director of the Company with effect from 15 May 2002 to pursue other interest. With his resignation, Mr Ng Yean Kiat ceased to be a member of the Audit Committee and Remuneration Committee/Share Option Plan Committee. The Board of Directors would like to express its appreciation to Mr Ng Yean Kiat for his invaluable contributions to the Company.

The Board is pleased to announce the appointment of Messrs Bryan Charles Burkhart and Robert Sebastiaan Lette as Directors of the Company with effect from 16 May 2002.

Mr Burkhart is the co-owner, co-founder and Executive Director of Fairest Cape Beverage Co Inc., a privately held beverage import/export and distribution company based in Santa Ana, California, U.S.A. Mr Burkhart graduated with a Bachelor of Arts Degree in Business Administration from the University of Southern California, U.S.A.

Mr Bryan Burkhart is the son of the late Chairman and Chief Executive Officer, Mr Wesley Howard Burkhart. The Board considers Mr Bryan Burkhart as a non-independent director in line with the new Code of Corporate Governance.

Mr Robert Lette is currently the Managing Director of Columba Pte Ltd, a company incorporated in Singapore. Mr Lette has been living and working in Singapore since 1985. A former banker with Credit Suisse Singapore, Mr Lette became the Managing Director of MeesPierson Asia Ltd in 1995 until 1997 when he joined Dresdner South East Asia Ltd as its regional head for its private banking division till 1999.

Besides being an alternate director of Asia Pacific Breweries Ltd in Singapore, Mr Lette is a member of the Board of Governors of United World College of South East Asia in Singapore and a member of the Board of Commissioners of P.T. Multi Bintang Indonesia in Jakarta, Indonesia.

Upon coming on board as a Director of the Company, Mr Robert Sebastiaan Lette was also appointed a member of the Audit Committee with effect from 16 May 2002. Mr Lette is considered independent pursuant to Clause 902 (4) (a) of the Listing Manual of Singapore Exchange Securities Trading Limited.

Subsequent to the above changes, the compositions of the Audit Committee and Remuneration Committee/Share Option Plan Committee are as follows:

Audit Committee

Dr Ong Chit Chung (Chairman)
Leong Swee Sum
Robert Sebastiaan Lette

Remuneration Committee/Share Option Plan Committee

Leong Swee Sum (Chairman)
Gopala Achuta Menon
Dr Ong Chit Chung

By Order of the Board
Magnecomp International Limited
Submitted by Loh Shu Chun, Company Secretary on 16/05/2002 to the SGX

(Post 97 of 614)   05/20/2002.17:41:09
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

Increase in Paid-Up Capital of Subsidiaries


The Board of Directors of Magnecomp International Limited (the "Company") wishes to announce the following changes to the paid-up capital of the subsidiaries of Mansfield Manufacturing Company Limited, which is 83.33% owned by the Company:-

1) Magix Mechatronics Company Limited, Hong Kong

Magix Mechatronics Company Limited, Hong Kong ("Magix"), a joint venture between Mansfield Manufacturing Co Limited ("Mansfield") in Hong Kong and Hong Kong Yagi Co Ltd has increased its authorized and paid-up capital from HK$10,000 to HK$10,000,000 by the creation of 9,990,000 additional shares of HK$1.00 each. Mansfield which owns 60% of Magix shares increased its investment from HK$6,000 to HK$6,000,000.

Magix was incorporated in Hong Kong on 5 May 2000 and the increase in paid-up capital is to provide additional working capital for expansion of its principal activities in the assembly of components.

2) Magix Mechatronics (Dongguan) Company Limited, PRC ("Magix Mechatronics (Dongguan)")

Magix Mechatronics (Dongguan) is a wholly-owned subsidiary of Magix. Magix has recently injected a paid up capital of HK$1,500,000 in Magix Mechatronics (Dongguan) for the purpose of providing working capital for its subsidiary.

Magix Mechatronics (Dongguan) was registered on 27 December 2001 and its principal activity is that of sub-assembly of office automation equipment.

3) Mansfield (Suzhou) Manufacturing Company Limited, PRC ("Mansfield (Suzhou)")

Mansfield (Suzhou) is a wholly-owned subsidiary of Mansfield Manufacturing Company Limited ("Mansfield Manufacturing") in Hong Kong. Mansfield Manufacturing has recently injected a paid up capital of HK$7,500,000 in Mansfield (Suzhou) for the purpose of providing working capital for its subsidiary.

Mansfield (Suzhou) was registered on 23 November 2001 and its principal activity is that of metal stamping, tooling and die making.

The net tangible assets and earnings per share of the Company for the financial year ending 31 December 2002 is not expected to have any material effect by the above increase in share capital of the subsidiaries of Mansfield Manufacturing Company Limited.

Save for Mr To Wai Hung, a Director of the Company, who holds 16.67% of the shares in Mansfield Manufacturing Co Ltd, none of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the transactions.

By Order of the Board

Yong Kok Hoon
Director
Submitted by Yong Kok Hoon, Director on 20/05/2002 to the SGX

(Post 98 of 614)   06/07/2002.21:31:41
Author :
Tspeng
PROFIT WARNING

 The Directors of Magnecomp International Ltd (the "Company") would like to announce that the Company's performance for the first half-year ending 30 June 2002 will be affected by the lower-than-projected turnover achieved by the Data Storage Components Division. The performance of this division was affected by an unforeseen delay encountered in the qualification of the Company's new suspension products by a major customer.

Qualification of this product line is anticipated to be completed by the end of the second quarter. Performance of the Data Storage Components Division, which accounted for 57% of the Group's turnover for the financial year ended 31 December 2001, is expected to improve in the second half of the year.

The performance of the Office Automation and Electronics Components Division is meeting expectations for the first half of the year and is expected to continue to improve in the remainder of the year.

The lower turnover achieved by the Data Storage Components Division will however result in the Company incurring a loss in the first half year.

.



SGX

(Post 99 of 614)   06/07/2002.23:48:02
Author :
Spurs
Looks like another Eillipsiz coming up on Monday. I wonder what is the spread going to be like for shorting opportunities

(Post 100 of 614)   06/10/2002.08:45:39
Author :
Sipost
MAGNECOMP INTERNATIONAL LIMITED

PROFIT WARNING BY MAGNECOMP INTERNATIONAL LIMITED


The Directors of Magnecomp International Ltd (the "Company") would like to announce that the Company's performance for the first half-year ending 30 June 2002 will be affected by the lower-than-projected turnover achieved by the Data Storage Components Division. The performance of this division was affected by an unforeseen delay encountered in the qualification of the Company's new suspension products by a major customer.

Qualification of this product line is anticipated to be completed by the end of the second quarter. Performance of the Data Storage Components Division, which accounted for 57% of the Group's turnover for the financial year ended 31 December 2001, is expected to improve in the second half of the year.

The performance of the Office Automation and Electronics Components Division is meeting expectations for the first half of the year and is expected to continue to improve in the remainder of the year.

The lower turnover achieved by the Data Storage Components Division will however result in the Company incurring a loss in the first half year.

The Directors expect to release the Company's half-year results before the end of August 2002.
Submitted by Yong Kok Hoon, Director on 07/06/2002 to the SGX


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