[ Archive Home ]
MAE Eng| [ Archive Home ] |
| MAE Eng |
| Pages: 1 | 2 of 2 |
(Post 1 of 63) 03/22/2000.10:34:00 |
| Author : |
from GK Goh MAE Engineering Do Not Subscribe Pre IPO Briefing Offer Price: around $0.30 (undecided) IPO size: 25m shares (1/3 vendor and 2/3 new) Historic PER: 10x The Business * Electrical Engineering, Fire Protection Installation, Plumbing & Sanitary Services - acts as subcontractors to provide these services for major high rise buildings and 5 star hotels in the region. * Provides turnkey services to build Oceanariums, mainly in China. Comments * Earnings from subcontracting jobs are lumpy, dependent mainly on the number of contracts it can secure. Margins are also under intense pressure as many contractors, both local and foreign are still hungry for work. MAE remains as a price taker despite its good track record. * Earnings from turnkey Oceanarium projects are also lumpy. Although competition is less keen, we do not believe the sales and earnings growth from this business are sustainable when major cities in China have already erected them. Other than one contract completed in Brisbane (Australia) worth only S$1.1m in 1997, MAE still do not have a track record in other countries. * MAE also runs the risks of bad debts (as in 1999 from Indonesia) as many jobs are contracted from local companies. Jobs are mainly secured in US$ terms but can some are in the local currencies, exposing itself to some exchange risks. Valuation * With an estimated post IPO 1999 historical P/E of 12x, we see it to be fully valued compared to Hiap Seng Engineering of 11.5x for 1999. Hiap Seng Engineering specialises in mechanical and electrical installation and maintenance works and is expected to grow at a steady rate of 15% (conservatively) over the next three years, as earnings are to be derived mainly from Jurong Island. Note No information of orderbook and potential contracts are available yet |
| (Post 2 of 63) 03/22/2000.18:24:00 |
| Author : |
oldman this is another subcontractor needing money |
| (Post 3 of 63) 03/23/2000.10:23:00 |
| Author : |
MAE Engineering launches IPO of 29.15 mln shrs at 0.30 sgd each MAE Engineering Ltd said it has launched an initial public offering of 29.15 mln new shares at 0.30 sgd each. The IPO comprises a retail tranche of 2.915 mln shares, while 26.235 mln shares will be sold through private placement, including 6.285 mln shares reserved for employees and business associates. The company is selling 17.49 mln new shares and its major shareholders 11. 66 mln vendor shares. The offer closes on March 30 and trading on SESDAQ is expected to begin April 3, the company said. Of the net proceeds of 4.40 mln sgd from the issuance of new shares, 2.40 mln will be used as working capital, while the remaining 2.0 mln will be used to repay bank borrowings. MAE Engineering achieved a net profit pre-extra of 2.576 mln sgd in 1999 against a net loss of 470,000 sgd. The mechanical and electrical engineering services company is a unit of Acma Ltd. |
| (Post 4 of 63) 03/23/2000.15:54:00 |
| Author : |
old story for archive MAE Engineering planning to raise $8-10m from Sesdaq IPO By Carol Eng 15 Mar 2000 MAE Engineering, an Acma unit, plans to raise $8-$10 million from its initial public offer (IPO) for a listing on Sesdaq. Expected to be launched within two weeks, the IPO will comprise new and vendor shares, with the proceeds to be used mainly for working capital. Founded in 1974, MAE provides mechanical and engineering (M&E) services to hotels and commercial buildings. It also offers consultancy, contracting and management services to oceanarium and aquarium owners. At a briefing yesterday, MAE executive chairman Willie Teo said that as at November last year, its M&E order book stood at $90 million, while that for aquarium works was $20 million. "We will use the IPO proceeds to reduce our short-term borrowing, and mostly for other working capital purpose because of our strong order book," said Mr Teo. The economic crisis greatly lowered the firm's 1998 turnover by 42 per cent to $24.4 million, and also drove it into a $400,000 net loss. For the half year ended June 1999, however, MAE's turnover came to $26.1 million while net profit was $400,000. It would have been higher if not for continued losses in the aquarium business, where the pick-up was slower. But MAE's executive director Goh Meng Tong said, with a touch of humour: "We rebounded very strongly in the second half of the year . . . or the bank won't take us for an IPO." Overseas Union Bank is managing its offer. Listed engineering and electronics company Acma owns 49 per cent of MAE, while Mr Teo and his wife Jeanne Teo, an MAE executive director, are the other shareholders. MAE's project portfolio in M&E are mainly in the Marina area. They include the Marina Square development's three hotels and retail mall, Millennia Tower, Centennial Tower, Grand Fullerton hotel and The Esplanade -- Theatres on the Bay. It has also done aquarium projects in China, Taiwan and Australia. |
| (Post 5 of 63) 03/31/2000.08:39:00 |
| Author : |
MAE Engineering IPO 146 times subscribed MAE Engineering Ltd said its initial public offering, which closed yesterday, has been 146 times subscribed. The IPO will raise net proceeds of approximately 4.4 mln sgd |
| (Post 6 of 63) 04/01/2000.09:43:00 |
| Author : |
SINGAPORE EXCHANGE SECURITIES TRADING LIMITED Investors are hereby advised of the following: - 1. The above shares will be granted listing and quotation in the "Construction" sector of the Official List of SGX-SESDAQ. Trading in MAE shares will commence on "Ready" basis with effect from 9.00 a.m., Monday, 3 April 2000. 2. The short name is "#MAE Engg" and the abbreviated name is "MAE". The ISIN Code is SG1I29881105. 3. The shares will be quoted in board lots of 1,000 shares. There will be no trading of the shares in the "cash" market. Settlement for trades in the Company's shares will be effected by book entries in the securities accounts which buyers and sellers must maintain with The Central Depository (Pte) Ltd ("CDP"). 4. Applicants may enquire about the number of MAE shares credited to their respective securities accounts by using the Automated Self-Service Enquiry Terminals ("ASSET") located at CDP as well as at most member companies of Singapore Exchange. Submitted by Keith Heah, Vice President & Head, Trading Management on 31/03/2000 to the SES |
| (Post 7 of 63) 04/18/2000.15:49:00 |
| Author : |
wat wrong with this share keeping constantly falling????? |
| (Post 8 of 63) 04/19/2000.03:46:00 |
| Author : |
this is a good share as evidence from the x that it IPO is subscriebed when the mkt is down. the fall in MAE can be partly attribute to the poor sentiment in the mkt all round. another reason is that it is sell down whenever pp buy it. some pp may want be trying to lower the price of the share and get it cheaper later....jus my own personal opinion:)....i hv no vested interest in this share:)...may pick it up later...:) |
| (Post 9 of 63) 04/24/2000.16:56:00 |
| Author : |
wow....look at that........nearly half of ipo price.....gonna pick up some this week!! |
| (Post 10 of 63) 04/25/2000.12:41:00 |
| Author : |
excuse me can anyone tell me when will it go up this stock is lousy no resistence hardly any interest to go up? is there any thing wrong with this company can anyone tell me |
| (Post 11 of 63) 04/25/2000.12:44:00 |
| Author : |
there is no retail interest in this stock. with its business. of aquarium and enginnerring maintanece in the hotel industry. This stock had limited upside.plus the weak market sentiment very hard for it to go up. advise to dump yours holdings in this stock and take into other stock instead. |
| (Post 12 of 63) 05/03/2000.03:21:00 |
| Author : |
MAE Enggrg - moving at last. In tandem with Acma.Should be able to break previous high 0f 0.40 |
| (Post 13 of 63) 06/05/2000.15:25:00 |
| Author : |
Hey looks like a strong and steady share to hold man. I've been observing this share for the past 2 months Though the volume is low for this counter , I realise that this counter is very resistance to the downward trend for the past 7 days. Now when the market is good it has shown signs of recovering. Well i'm holding 50 lots at 0.19, good earnings made. Happy trading. |
| (Post 14 of 63) 06/05/2000.15:37:00 |
| Author : |
MAE is truly a good long term counter to invest in. Its solid financial background topped with many ongoing projects in China and HongKong makes it extremely resistant to the recent market downturn. In fact it has always been independent of Nasdaq and DJIA. A good buy for small players... a sure win investment in the near future. Here's to many good times ahead for MAE. |
| (Post 15 of 63) 06/09/2000.11:02:00 |
| Author : |
Hey damn it. I've missed the $0.24 moment. But anyway despite the bad market today MAE is still standing strong. As i've said, big resistance for the downward trend. From the look of this counter's graph i am quite positive that there is some big shots seeming to raise this counter to at least $0.25. Well guys join in the ride. The demand is still increasing, good sign for this counter. Happy trading |
| (Post 16 of 63) 06/09/2000.11:10:00 |
| Author : |
Antara, Looks like you are one who have been doing your homework. Actually to add on, MAE is in the closing stages of their projects in Shanghai and Suzhou. Cash is expected to flow in to thte company. MAE is growing fundamentally strong by the day. Indeed a good buy. People to got this counter below $0.20, you are in for some good money. Those who are still trying to join in the fray, well be patient as it is still a fantastic buying price. The time is now ladies and gentleman ffor MAE will rise. |
| (Post 17 of 63) 06/15/2000.16:45:00 |
| Author : |
Something fishy happening at MAE.... Rumour in the market that MAE Engineering that company is taking a controlling stake in a fish farm in Malaysia... I don't understand how this will feed the growth profile for its other businesses. No vested interest. Just my 2.5c worth of market intelligence |
| (Post 18 of 63) 06/15/2000.22:14:00 |
| Author : |
Warren, MAE Engineering has announced that its unit Sunsparkle Pte. Ltd. has teamed up with two investors to fully acquire Malaysia-based Aqua Ocean Marine Technology. Dont really know how the fish farm business can fit into a company like MAE. Sounds like its taking after its parent ACMA, who is diversifying heavily into other unrelated businesses - Dotcom business..... |
| (Post 19 of 63) 06/15/2000.22:40:00 |
| Author : |
fishfarm need ventilation MAE is good at ventilation and airconditiong that is the match |
| (Post 20 of 63) 06/15/2000.22:48:00 |
| Author : |
“The Board of Directors of MAE Engineering Ltd (“the Company”) is pleased to announce that the Company acquired a newly incorporated 100% subsidiary, Sunsparkle Pte Ltd (“Sunsparkle”) which has an authorised capital of $100,000 with $2 paid up. Sunsparkle will be used as the vehicle to participate in a joint venture in Malaysia by acquiring 70% of Aqua Ocean Marine Technology Sdn. Bhd. (“AOMT”) a company incorporated in Malaysia. On 15 June 2000, Sunsparkle entered into a joint venture agreement with Jared Chew Boon Hee (“JC”), Mohamad bin Dolmat (“MD”) and AOMT (“the Agreement”). Pursuant to the terms of the Agreement, Sunsparkle, JC and MD will subscribe in cash at par for 350,000 (70%), 100,000 (20%) and 50,000 (10%) ordinary shares of RM1.00 each respectively in the capital of AOMT. Subscription for shares in AOMT is expected to take place on or about 19 June. Upon the allotment and issue of shares in AOMT, AOMT will become an indirect subsidiary of the Company. However in terms of investment, AOMT is not expected to be a principal subsidiary of the Company in the foreseeable future. The above transaction is not expected to have a material impact on the earnings per share and the net tangible assets per share of the Company or the Group for the current financial year. JC who will be appointed as an executive director of AOMT under the terms of the Agreement, is a brother of Ms. Jeanne Chew Peck Sim, an Executive Director of the Company. Save as disclosed, none of our directors or substantial shareholders has any interest, direct or indirect in the above transaction”. |
| (Post 21 of 63) 06/30/2000.12:11:00 |
| Author : |
This counter is moving today. |
| (Post 22 of 63) 07/03/2000.14:04:00 |
| Author : |
Another Under-valued stock. It's moving today! |
| (Post 23 of 63) 07/14/2000.12:14:00 |
| Author : |
Look! Its Moving again today!! |
| (Post 24 of 63) 07/14/2000.12:17:00 |
| Author : |
hope it will be another PNE, reach 0.3 today |
| (Post 25 of 63) 07/14/2000.12:18:00 |
| Author : |
NTUC or Syndicate playing MAE Engg?? |
| (Post 26 of 63) 07/14/2000.12:41:00 |
| Author : |
NEUCLEUS ELECTRONICS,LOOK OUT FOR THIS LAGGARD COUNTER,STAY AT .44 FOR 6 MONTHS,FAIR VALUE AT .60.ALL SEMICON SHARES ABOVE.50. |
| (Post 27 of 63) 07/14/2000.13:00:00 |
| Author : |
Stevenlowlow *naG naG naG* ... off the caps pls.  |
| (Post 28 of 63) 07/14/2000.16:43:00 |
| Author : |
Whatever they touches now turn to gold? Speculation is stronger stronger now that NTUC Income (who else) is buying shares. |
| (Post 29 of 63) 08/17/2000.02:30:00 |
| Author : |
ANNOUNCEMENT Press Release Singapore Science Centre into Jurassic Park TM o partners include Singapore Science Centre and US-based Dinamation, the creator of animated dinosaurs SINGAPORE – 16 August 2000 – Sesdaq-listed MAE Engineering Ltd, an integrated service provider of mechanical and electrical (M&E) engineering services and aquarium specialist works (ASW), has formalized an agreement with Singapore Science Centre (SSC), Dinamation International Corporation (Dinamation) and IEC Coatings Pte Ltd to bring to Singapore a large Dinosaur show, to commence in November. This show, to be called “Dinosaurs Alive”, will feature more than 40 movable live-sized dinosaurs. “Dinosaurs Alive” will be scheduled to coincide with the year-end school holidays and festivities to herald in the true start of the new millennium. It will also be the major event to mark the completion of the Science Centre’s new building. Under the terms of the agreement, Dinamation will provide the exhibits (dinosaurs), including the necessary technology and expertise to stage the show. With over 18 years experience in the dinosaur exhibition business, Dinamation’s Vice President, Mr Sam Nakashima said: “We are very pleased to be able to bring this highly successful show to Singapore. We are very confident that it will also prove to be highly educational for students as well. We will be bringing in the world famous palaeontologist, Dr Bob Barker, to Singapore to speak and share his knowledge with us.” Mr Nakashima said the company has encountered worldwide interest in all things related to dinosaurs. The other three parties will put up a combined S$1 million as working capital, of which MAE’s share is $400,000, which will be funded internally. MAE’s Executive Chairman, Mr Willie Teo, said: “This educational cum entertainment project is part of our overall strategies to expand the dimensions of our second core business. We are already very familiar with the demands of “exhibition edutainment” from our experience in providing consultancy and design services to aquariums /oceanariums. The results of such projects depend on successfully creating a unique visitor experience of interactive fun, wholesome entertainment and education for the family.” Mr Teo further elaborated: “We are very excited by the potential of this very interesting partnership. For children growing up in Singapore, the Science Centre has always been the fun place to learn the principles of Science together with their parents. We are proud to be involved in commemorating the new-look Science Centre by helping to stage this state-of-the-art technology-driven edutaining “Dinosaur Alive” exhibition. “We envisage that this “Dinosaur Alive” show will be able to attract the interests of many in Singapore, from the young and the young-at-heart, because unlike other dinosaur-themed shows where the exhibits are static, these are all moving exhibits. Visitors can now be assured of getting excellent educational and entertainment value. Dinamation has the proven products and expertise to make dinosaurs “come alive”, to the extent of being too realistic for some!” The organizers intend to seek sponsorship for the show from banks and other commercial organizations. The “Dinosaur Alive” show is expected to give a boost to Singapore’s tourism industry by attracting dinosaur aficionados from around the region to visit the Republic. About MAE Engineering Ltd MAE Engineering Ltd is a specialist provider of integrated mechanical and engineering (M&E) services namely air-conditioning and mechanical ventilation, electrical engineering, fire protection, and plumbing and sanitation services for high-rise building projects including five-star hotels, high-tech office/commercial complexes and industrial buildings. The Group, through wholly-owned subsidiaries Living Ocean International Pte Ltd, and Living Ocean International Construction Pte Ltd located in Australia, Singapore and Hong Kong respectively, also provides aquarium specialist works (ASW) and related services. These include consultancy, design, architectural and construction, to oceanariums, aquariums and theme park developers, as well as commercial applications in the aquaculture industry. The Company has recently expanded into aquaculture through its prawn and fish farming venture in Malaysia. CONTACT INFORMATION Maxcom Communications Pte Ltd Tel (65) 832 7711 Fax (65) 832 7712 William Chia, william@maxcom.com.sg Mona Leong, mona@maxcom.com.sg Submitted by Willie Teo Chin Kiang, Executive Chairman on 16 August 2000 to the SGX |
| (Post 30 of 63) 09/27/2000.01:19:20 |
| Author : |
MAE Engineering H1 net profit 702,000 sgd vs 307,000 sgd
SINGAPORE (AFX-ASIA) - MAE Engineering six months to June results: Net profit - 702,000 sgd vs 307,000 sgd Sales - 27.090 mln sgd vs 26.088 mln Pretax profit - 989,000 vsd 372,000 sgd EPS - 0.65 cents vs 0.32 Interim div - nil; unchanged In a statement, the company said it expects to achieve better performance in the second half, supported by its orderbook which stands at 75 mln sgd. |
| (Post 31 of 63) 10/22/2000.17:53:29 |
| Author : |
Someone is trying to support this counter  |
| (Post 32 of 63) 10/22/2000.18:05:47 |
| Author : |
i though of observing it for a longer period but jumped into loading it when it hit 0.175.
Where you get the info from ? or just mere observation? vested interest. |
| (Post 33 of 63) 03/08/2001.18:43:11 |
| Author : |
MAE Engineering Ltd takes Dinosaurs to Malaysia
SINGAPORE - 8th March 2001 - Sesdaq-listed MAE Engineering Ltd ("MAE"), an integrated service provider of mechanical and electrical (M&E) engineering services and aquarium specialist works (ASW), has today agreed to collaborate with Meda Development Sdn Bhd ("Meda"), a Malaysian company, to bring to Malaysia a large Dinosaur show. The investment agreement ("Agreement") for this venture was signed between Technology MAE Sdn Bhd ("TMAE"), a newly acquired Malaysian subsidiary of MAE, and Meda. This show, to commence in May 2001 and called "Dinosaurs Alive", will be for a period of three months and will feature more than 40 movable live-sized dinosaurs with state-of-the-art animatronics. "Dinosaurs Alive" has been scheduled to coincide with the May school holidays and Universal Studios' forthcoming blockbuster Jurassic Park movie expected to open in Malaysian cinemas in May/June 2001. The Exhibition will be held at "The Summit" in Subang Jaya. MAE will be responsible for the management of the show and will engage Dinamation International Inc, a US based company which specialises in the production of these exhibits to provide the creatures, including the necessary technology and expertise to stage the show. To emphasise the educational value of these shows, MAE will invite world famous paleontologist, Dr. Bob Barker, to speak and share his knowledge with the Malaysian audience. MAE will transport and set up the show in Malaysia while Meda will contribute the venue and at least RM1.2 million towards advertising and promotional activities of the show. Under the terms of the Agreement, TMAE will have a 75% of the share of the profits and earn a management fee based on a percentage of revenue. TMAE will not be required to make any capital contribution. TMAE and Meda intend to seek sponsorship for the show from banks and other commercial organizations. MAE's Executive Chairman, Mr. Willie Teo said " We are very pleased to be able to bring this highly promising show to Malaysia. After our valuable experience gained in the show at the Singapore Science Centre, we have great plans to bring this show to the rest of Asia. The amount of interest in Dinosaurs is very encouraging to us as we have encountered many enquiries from many parts of Asia for us to bring these shows. Mr. Willie Teo continued "This educational-cum-entertainment project is a continuation of our overall strategies to expand the dimensions of our second core business. We are already familiar with the demands of "exhibition edutainment" from our experience in providing consultancy and design services to aquariums and oceanariums. The result of such project depends on successfully creating a unique visitor experience of interactive fun, wholesome entertainment and education for the family. We envisage that this "Dinosaur Alive" show will be able to attract the interests of many in Malaysia, from the young and the young-at-heart, because unlike other dinosaur-themed shows where the exhibits are static, these are all moving exhibits. Visitors can now be assured of getting excellent educational and entertainment and value!" Submitted by Teo Chin Kiang Willie, Executive Chairman on 8 March 2001 |
| (Post 34 of 63) 03/19/2001.18:43:06 |
| Author : |
ANNOUNCEMENT
On 1st June 2000, Aqua Ocean Marine Technology Sdn Bhd ("AOMT"), a company incorporated in Malaysia in which the Company has a 70% interest through the Company's subsidiary Sunsparkle Pte Ltd, engaged Mr Jared Chew Boon Hee to provide marketing advisory and technical services to AOMT. Mr Chew who is a brother of Ms Jeanne Chew Peck Sim, an Executive Director of the Company, holds a 20% shareholding in AOMT and is also a Director of AOMT. Mr Chew is paid a consulting fee of S$180,000 per annum. AOMT is engaged in aqua-culture activities, particularly in the farming of prawns and fish. Submitted by Teo Chin Kiang Willie, Executive Chairman on 19 March 2001 |
| (Post 35 of 63) 03/28/2001.02:56:22 |
| Author : |
The management has also recommended a final cash dividend payout based on a dividend rate of 5% per ordinary share of S$0.05 par value less tax to be paid at a later date. |
| (Post 36 of 63) 05/09/2001.22:48:27 |
| Author : |
PROPOSED BONUS ISSUE
On 26 March 2001, the Board of Directors of MAE Engineering Ltd (the "Company") proposed a bonus issue ("Bonus Issue") of 58,302,030 new ordinary shares of $0.05 each in the capital of the Company on the basis of one (1) ordinary share of $0.05 each (the "Bonus Share") credited as fully paid for every two (2) existing ordinary shares of $0.05 each held by the registered shareholders (the "Shareholders") of the Company on a books closure date to be determined by the Directors. The Board of Directors of the Company is pleased to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") has on 9 May 2001, subject to conditions, granted in-principle approval for the Bonus Issue and the listing and quotation of the Bonus Share. The in-principle approval from the SGX-ST is not an indication of the merits of the Bonus Issue. The Bonus Issue is subject to the approval of Shareholders at an Extraordinary General Meeting ("EGM") to be convened. A circular to Shareholders setting out details of the Bonus Issue and the Notice of EGM will be despatched to Shareholders in due course. Submitted by Teo Chin Kiang Willie , Executive Chairman on 9 May 2001 |
| (Post 37 of 63) 05/17/2001.21:51:40 |
| Author : |
ANNOUNCEMENT
The Directors of MAE Engineering Ltd wishes to inform all shareholders that the proposed bonus issue will not proceed. The proposed bonus issue of 58,302,030 new ordinary shares of $0.05 each in the capital of the Company was to have been made on the basis of one (1) ordinary share for every two (2) shares held by the shareholders of the Company. On 9th May 2001, the Singapore Exchange Securities Trading Limited issued an in-principle approval letter approving the Bonus Share issue, subject to the following conditions: (a) Shareholders' approval (b) Submission of an undertaking from State Superior Limited ("SSL") and GTS Benjamin Holdings Pte Ltd ("GTS") that they will not dispose of or transfer any part of their interest in 14,183,473 and 15,550,562 Bonus Shares respectively, until after 2 April, 2002. On 10th May 2001, GTS issued an undertaking in compliance with the above condition. SSL is unwilling to provide the undertaking to the SGX in the terms required. Accordingly, the directors of MAE Engineering regret that the proposed Bonus Share Issue cannot proceed.
|
| (Post 38 of 63) 08/23/2001.19:19:01 |
| Author : |
APPOINTMENT AND RESIGNATION OF DIRECTORS
The Board of Directors of MAE Engineering Ltd (the "Company") wishes to announce that:- 1. it has appointed Mr Kong Mun Kwong and Mr Richard Ng Cheng Hoe as Executive Directors of the Company with effect from the dates from which their consents to act are indicated to take effect; 2. it has appointed Mr Wong Heang Fine as Non-Executive Director of the Company with effect from the date from which his consent to act is indicated to take effect; and 3. it has accepted the resignation of Mr Goh Meng Tong as a Director of the Company with effect from 15 August 2001. Submitted by Ong Choo Lin Valerie, Company Secretary on 23 August 2001 |
| (Post 39 of 63) 09/21/2001.14:24:04 |
| Author : |
MAE Engineering Ltd takes Dinosaurs to Penang
September 2001 - MAE Engineering Ltd, an integrated service provider of mechanical and electrical (M&E) engineering services and aquarium specialist works (ASW), has been invited by the Penang State Finance Department to bring to Penang, the highly successful State-of-the-Art animatronics "Dinosaurs Alive" show from Kuala Lumpur for the Penang Pesta to be held in Penang from November 9th to December 24th, 2001. The Penang Pesta is an annual event, which in previous years, had seen tremendous attendances from both domestic and foreign tourists who flood to Penang during the long school holidays, Christmas and Hari Raya holidays. MAE's highly popular "Dinosaurs Alive" show in Kuala Lumpur which was seen by over 600,000 people, will conclude on 30th September 2001. Under the terms of this agreement, MAE will set up four different shows to cater for different niche groups of audiences, including a "Children" show and a "Scary" show. A motion master simulator will be installed on site to provide motion entertainment for all visitors. MAE will be provided rental-free spaces for five large pavilions in return for a 6% share of the revenue to the Penang State Finance Office. MAE's Executive Chairman, Mr. Willie Teo said " We are very pleased to be able to bring this highly successful show to Penang. We have seen with our own eyes, the tremendous crowds who jam-packed the venue in Kuala Lumpur. The number of people who visited the show in Kuala Lumpur provides ample evidence that such shows are not only extremely popular, but have a very high human and educational interest. The Penang Pesta is a large annual event and we know that from past experience, it was already able to command large crowds. We are confident that with the proven drawing power and appeal of our dinosaurs, the number of people who would visit this Pesta would reach record proportions. We have seen that the amount of interest in Dinosaurs is simply enormous. There is nothing like it!" Mr. Willie Teo continued "This educational-cum-entertainment project is a continuation of our overall strategies to expand the dimensions of our second core business. We are already very familiar with the demands of "exhibition edutainment" from our experience in providing consultancy and design services to aquariums / oceanariums. The result of such project depends on successfully creating a unique visitor experience of interactive fun, wholesome entertainment and education for the family. We envisage that this "Dinosaur Alive" show will be able to attract the interests of many in Malaysia and overseas, from the young and the young-at-heart, because unlike other dinosaur-themed shows where the exhibits are static, these are all moving exhibits. Visitors can now be assured of getting excellent educational and entertainment and value!" The organizers intend to seek sponsorship for the show from banks and other commercial organizations. The "Dinosaur Alive" show is expected to give a boost to Malaysia's tourism industry by attracting dinosaur aficionados from around the region to visit the country. Submitted by Teo Chin Kiang Willie, Executive Chairman on 21 September 2001 |
| (Post 40 of 63) 09/21/2001.18:27:01 |
| Author : |
ANNOUNCEMENT
The Board of Directors of MAE Engineering Ltd (the "Company") wishes to announce that:- 1. FORMATION OF EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS AND APPOINTMENT OF MEMBERS AND CHAIRMAN It has appointed Mr Willie Teo Chin Kiang, Ms Jeanne Chew Peck Sim, Mr Kong Mun Kwong and Mr Richard Ng Cheng Hoe as members of the Executive Committee with effect from 1st of September 2001 and Mr Willie Teo Chin Kiang as Chairman of the Executive Committee with effect from 1st September 2001. 2. ACQUISITION OF A WHOLLY-OWNED SUBSIDIARY, RICHPATH PTE LTD The Company had, on 10th July 2001 acquired a shelf company, Richpath Pte Ltd ("Richpath"), which has an authorised capital of $100,000.00 and an issued and paid up capital of $2.00 (comprising 2 ordinary shares of $1.00 each in the capital of Richpath Pte Ltd.) The acquisition is in line with the Company's plans to restructure its business into four business units, namely, mechanical and engineering services, aquarium specialists works, aquaculture and edutainment. Richpath will be utilised as the Company's vehicle for the edutainment business. 3. PURCHASE OF ASSETS FROM BOYNTON SIMON, INC The Company had, on 27th August 2001, entered into an agreement with Boynton Simon, Inc.("BSI"), a company incorporated in the United States, to purchase Boynton Simon's interests from Wells Fargo Bank National Association which hold the assets of Dinamation International Corporation ("DIC"). a Californian company incorporated in the USA. Prior to the transaction, DIC carried on the business of designing, manufacturing and leasing of prehistoric creatures to museums, zoos, parks and fairs in the USA. The purchase of the assets was funded from the Company's internal sources and has no impact on the current net tangible assets or earnings per share of the Company. The acquisition by the Company will allow it to launch into the edutainment business and bring into sharper focus, the Company's plan for diversification into a niche segment in the education and entertainment businesses, which is enjoying worldwide popularity, including the Asian region. The Company plans to conduct large shows in selected Asian countries and it will also lease these creatures to third parties for shows in China, Korea and Asian countries, as well as countries in Europe, Middle East and South America. Expressions of interests received by the Company from businesses within Singapore and overseas have exceeded the expectation of the Company. None of the Directors nor the substantial shareholders of the Company have any interest, direct, or indirect, in the transaction. Submitted by Teo Chin Kiang Willie, Executive Chairman on 21st September 2001 |
| (Post 41 of 63) 09/25/2001.20:08:06 |
| Author : |
ANNOUNCEMENT - ADDITIONAL INFORMATION
The Board of Directors wishes to clarify item 5(a) of the announcement dated 25 Septemebr 2001. The announcement stated in item 5(a) that revenue from M&E services declined by 24% from S$25.5 million to S$19.5 million but this decline is offset by an increase in revenue from the ASW business from S$1.5 million to S$7.6 million and maiden revenue from Edutainment business of S$1.2 million. The Company's profit before tax for the period under review declined by 55% compared with the corresponding period for the previous year, from S$1.3 million to S$0.583 million respectively. This was due primarily to a provision of S$900,000 from an M&E project which has been completed, but for which the Company is currently negotiating to recover payment. Submitted by Teo Chin Kiang Willie, Executive Chairman on 25 September 2001 |
| (Post 42 of 63) 09/28/2001.18:24:55 |
| Author : |
ANNOUNCEMENT
MAE Engineering Ltd ("MAE" or "the Company") released a press statement today on the opening of its "Dinosaurs Alive" show in Johore Bahru, Malaysia. The show is organised as part of MAE's growing edutainment business. On 21 September 2001, the Company announced the acquisition of a wholly owned subsidiary, Richpath Pte Ltd, which is to be utilised as the vehicle for the Company's edutainment business. The Company presently has four business divisions, namely, mechanical and engineering services, aquarium specialist works, aquaculture and edutainment. In line with the Company's belief that edutainment business has good potential for growth and returns, the Company announced on 21 September 2001 that it had agreed to purchase certain assets ("Assets") from Boynton Simon Inc ("BSI"), an Indiana corporation incorporated in the United States. These Assets comprise moulds, copyrights, physical exhibits of prehistoric animals (such as dinosaurs, mammoth, giant insects, dragons, giant sea creatures), as well as computers, furniture, fixtures and other assets. These Assets initially belonged to a Californian-incorporated company, Dinamation International Corporation ("DIC"), which had pledged the Assets to BSI. DIC is involved in the design, manufacturing and the leasing of these exhibitory creatures to various museums, zoos, theme parks and fairs throughout the United States. The aggregate purchase consideration for the Assets was US$799,000 (or S$1.47 million), based on a willing seller and willing buyer basis. The consideration is payable in two tranches. The first tranche of US$500,000 was placed in escrow pending MAE's proper due diligence, stock take and ascertaining the conditions and locations of the Assets. Escrow conditions have been fully satisfied. The balance of US$299,000 (or S$538,000) was secured to BSI by way of a letter of credit, payable on 21 December 2001). Apart from the payment of this consideration, the Company expended certain sums to secure the release of all exhibitory creatures and accessories from storage and bonded warehouses located throughout the United States. Payment for the whole consideration was funded from internal sources. There are no material conditions attached to the said purchase. The Assets are not easy to value due to their unique and specific nature. The book value of these Assets standing in its latest accounts as at the date of purchase was US$2.5 million (or S$4.5 million). The purchase of the Assets is to enable the Company to expand and extend its edutainment business. The Company is confident that its edutainment business will grow, judging from the expressions of interest received from enquiries in Singapore and overseas. However the Company is unable to ascertain the net profits attributable to the Assets. As announced in the press statement today, the present "Dinosaurs Alive" show in Johore Bahru, which is an 'educational-cum-entertainment' project, is a continuation of the Company's overall strategy to expand the dimensions of its other core businesses. The show is arranged to coincide with the forthcoming long school and public holidays. None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the purchase of the Assets transaction, and the transaction is not expected to have any material effect on the current net tangible assets and earnings per share of the Company. Submitted by Richard Ng, Executive Director on 28 September 2001 |
| (Post 43 of 63) 12/24/2001.09:15:12 |
| Author : |
MAE ENGINEERING LTD
Memorandum of Understanding The Company has on 21 December 2001 entered into a memorandum of understanding ("MOU") with Ong Puay Koon (the "Vendor") and Bintai Kinden Corporation Berhad ("Bintai") concerning the proposed sale by the Vendor to the Company ("Acquisition I") of the Vendor's existing shares representing a minority interest in Bintai ("Bintai Sale Shares") and the contemporaneous sale by Bintai to the Company of a majority interest ("BKS Sale Shares") in Bintai Kindenko Private Limited ("BKS"), a company incorporated in Singapore ("Acquisition II"). The MOU contains the main commercial principles which will serve as the framework for the preparation of a definitive agreement between the parties ("Sale and Purchase Agreement") to be entered into within 30 days of the MOU (or such other date as may be mutually agreed between the parties in writing), failing which the MOU shall automatically terminate, save for the obligations of confidentiality of each of the parties. The purchase consideration for Acquisition I shall be agreed between the parties. The purchase consideration for Acquisition II shall be the fair value to be determined. The purchase consideration for both Acquisitions I and II shall be satisfied by the allotment and issue of new shares in the Company (the "Consideration Shares") at an issue price to be agreed between the Parties. Acquisitions I and II will be subject to, inter alia, the following conditions precedent ("Conditions") having been fulfilled or effected by 31 May 2002 (or such later date as the parties may agree in writing):- (a) the approval in-principle of the Singapore Exchange Securities Trading Limited for the listing and quotation of the Consideration Shares upon their allotment and issue; and (b) the approval of the respective shareholders of the Company and BKS in general meeting being obtained for (i) Acquisitions I and Acquisition II and (ii) the allotment and issue of the Consideration Shares, on the terms and conditions set out in the Sale and Purchase Agreement. The MOU is not intended by the parties to be legally binding except for the undertakings by the parties (a) to suspend, and not to initiate or solicit, any negotiations or offer with respect to any expression of interest by any third party to acquire an interest in the shares to be acquired by either party or in the Company or its assets, (b) in respect of confidentiality, and (c) to bear their respective costs in relation to the proposed transaction. The exclusivity undertaking referred to in (a) above expires on 11 January 2002. Submitted by Teo Chin Kiang Willie , Executive Chairman on 21 December 2001 to the SGX |
| (Post 44 of 63) 03/15/2002.14:49:07 |
| Author : |
MAE forum is like a ghst-house with cobwebs for months (since Dec). Anyway, when is the annual report due ? |
| (Post 45 of 63) 04/17/2002.08:14:52 |
| Author : |
    |
| (Post 46 of 63) 04/30/2002.15:05:11 |
| Author : |
Rabbit, this one oso got fish ??? |
| (Post 47 of 63) 04/30/2002.15:07:28 |
| Author : |
Huh water ??
 |
| (Post 48 of 63) 05/04/2002.18:19:22 |
| Author : |
MAE ENGINEERING LTD
IN-PRINCIPLE APPROVAL FOR LISTING AND QUOTATION OF UP TO 38, 680, 000 NEW ORDINARY SHARES OF $0.05 EACH TO BE ISSUED AS CONSIDERATION FOR THE PROPOSED TRANSACTION RELATING TO BINTAI KINDEN CORPORATION LTD AND ITS SUBSIDIARY, BINTAI KINDENKO PRIVATE LIMITED The Board of Directors of MAE Engineering Ltd ("the Company") refer to the Company's announcement on 21 March 2002 regarding the proposed Acquisition described therein and referred to below. All terms and references made thereto shall bear the same meaning in this announcement. The Board of Directors of the Company is pleased to announce that the Company has today obtained in-principle approval from the Singapore Exchange Securities Trading Limited ("SGX-ST") for the listing and quotation on the Stock Exchange of Singapore Dealing & Automated Quotation System (SESDAQ) for :- (a) 23,000,000 new ordinary shares of $0.05 each in the capital of the Company at $0.25 each in full satisfaction of the consideration for the proposed acquisition ("BKCB Acquisition") by the Company from Mr Ong Puay Koon of 2,300,000 ordinary shares of MYR1.00 each (representing approximately 2.22%) in the capital of Bintai Kinden Corporation Berhad ("BKCB"); and (b) 15,680,000 new ordinary shares of $0.05 each in the capital of the Company at $0.25 each in full satisfaction of the consideration for the proposed acquisition ("BKS Acquisition") by the Company from BKCB of 1,715,000 ordinary shares of $1.00 each (representing 49%) in the capital of Bintai Kindenko Private Limited ("BKS"). All ordinary shares of par value $0.05 each, when issued, will rank pari passu in all respects with the existing ordinary shares of the Company. The SGX-ST in-principle approval is subject to shareholders' approval of the Company :- Shareholders' approval will be sought at an Extraordinary General Meeting ("EGM") of the Company to be convened on 28 May 2002 at 11 a.m. at 150 Kampong Ampat #01-01 KA Centre Singapore 368324 or so soon thereafter as the annual general meeting of the Company to be held on the same day at 10.30 am is concluded or adjourned. The Company will be issuing a Circular to Shareholders for the purposes of the EGM. At the EGM, shareholders' approval will be sought for the following resolutions : - i. the BKCB Acquisition and the BKS Acquisition (collectively, "the Acquisition"); ii the issue and allotment of the new 38,680,000 ordinary shares of $0.05 each in the Company; iii. to increase the Company's authorised capital to $25,000,000; and iv. to appoint new directors. Details of these Resolutions will be provided in the Circular to be issued to shareholders on 10 May 2002. The said in-principle approval of the SGX is not to be taken as an indication of the merits of the Acquisition. Submitted by Teo Chin Kiang Willie, Executive Chairman on 3 May 2002 to the SGX |
| (Post 49 of 63) 05/13/2002.09:31:41 |
| Author : |
MAE ENGINEERING LTD
Notice Of Annual General Meeting NOTICE IS HEREBY GIVEN that an Annual General Meeting of the Company will be held at 150 Kampong Ampat #01-01 KA Centre Singapore 368324 on 28 May 2002 at 10.30 a.m. to transact the following business:- ORDINARY BUSINESS 1. To receive, consider and adopt the Audited Accounts for the financial year ended 31 December 2001 and the Directors' Report and the Auditors' Report thereon. Resolution 1 2. To declare a First and Final Dividend of 5% less income tax of 24.5% for the financial year ended 31 December 2001. Resolution 2 3. To approve Directors' fees of S$93,000.00 for the financial year ended 31 December 2001. Resolution 3 4. To re-elect the following Directors retiring by rotation in accordance with the Company's Articles of Association. (a) Ms Jeanne Chew Peck Sim Resolution 4(a) (b) Mr Tan Thuan Seng Resolution 4(b) 5. To re-elect the following Directors retiring in accordance with the Company's Articles of Association. (a) Mr Kong Mun Kwong Resolution 5(a) (b) Mr Richard Ng Cheng Hoe Resolution 5(b) (c) Mr Wong Heang Fine Resolution 5(c) 6. To re-appoint Messrs Ernst & Young as Auditors and to authorise the Directors to fix their remuneration. Resolution 6 SPECIAL BUSINESS 7. To consider and, if thought fit, to pass, with or without modifications, the following Ordinary Resolution:- "That pursuant to Section 161 of the Companies Act, Cap. 50 and the Listing Manual of the Singapore Exchange Securities Trading Limited, authority be and is hereby given to the Directors to issue shares in the Company (whether by way of rights, bonus or otherwise) at any time and upon such terms and conditions and for such purposes and to such persons as the Directors may in their absolute discretion deem fit provided that the aggregate number of shares to be issued pursuant to this Resolution does not exceed fifty per cent (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 shareholders of the Company does not exceed twenty per cent (20%) of the issued share capital of the Company for the time being, and, unless revoked or varied by the Company in general meeting, such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier." Resolution 7 8. To transact any other ordinary business. NOTICE IS ALSO HEREBY GIVEN that, subject to the approval of the proposed first and final dividend by the shareholders at the Annual General Meeting of the Company scheduled to be held on 28 May 2002, the Share Transfer Books and Register of Members of the Company will be closed from 12 June 2002 to 13 June 2002 (both dates inclusive). Duly completed transfers received by the Company's Registrar, Lim Associates (Pte) Ltd, 10 Collyer Quay #19-08, Ocean Building, Singapore 049315 up to 5.00 p.m. on 11 June 2002 will be registered to determine shareholders' entitlement to the proposed dividend. The proposed first and final dividend, if approved at the Annual General Meeting scheduled to be held on 28 May 2002, will be paid on 28 June 2002. BY ORDER OF THE BOARD Valerie Ong Choo Lin Company Secretary Singapore, 10 May 2002 Notes:- (1) A member of the Company entitled to attend and vote at the above-mentioned Meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the Company. (2) The instrument appointing the proxy must be deposited at the Company's registered office at 150 Kampong Ampat #01-01 KA Centre Singapore 368324 not less that 48 hours before the time set for holding the Meeting. Explanatory Notes:- (i) Mr Tan Thuan Seng, if re-elected, will remain as an independent member of and Chairman of the Audit Committee. (ii) Mr Wong Heang Fine, if re-elected, will remain as an independent member of the Audit Committee. (iii) The Ordinary Resolution proposed in item 7 above, if passed, will empower the Directors to issue shares in the capital of the Company up to an amount not exceeding in aggregate fifty per cent (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 shareholders of the Company does not exceed twenty per cent (20%) of the issued share capital of the Company for the time being. Submitted by Valerie Ong Choo Lin, Company Secretary on 10 May 2002 to the SGX |
| (Post 50 of 63) 05/13/2002.09:32:31 |
| Author : |
MAE ENGINEERING LTD
Notice Of Extraordinary General Meeting NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Shareholders of the Company will be held at 150 Kampong Ampat, #01-01 KA Centre, Singapore 368324 on 28 May 2002 at 11.00 a.m. (or as soon thereafter as the Annual General Meeting of the Company to be held on the same day is concluded or adjourned) for the purpose of considering and, if thought fit, passing with or without amendment, the resolutions as set out below :- ORDINARY RESOLUTIONS 1. Increase Authorised Share Capital That the present authorised capital of the Company being $12,000,000 divided into 240,000,000 ordinary shares of $0.05 each be increased by $13,000,000 divided into 260,000,000 ordinary shares of $0.05 to $25,000,000 divided into 500,000,000 ordinary shares of $0.05 each. 2. The BKCB Acquisition That the sale and purchase agreement between the Company (as purchaser) and Ong Puay Koon (as vendor) dated 21 March 2002 (the "BKCB Agreement") in respect of the acquisition of 2,300,000 ordinary shares of MYR1.00 each in the capital of Bintai Kinden Corporation Berhad ("BKCB") (the "BKCB Acquisition") be ratified, and the proposed issue of 23,000,000 new ordinary shares of $0.05 each in the capital of the Company at $0.25 each (the "BKCB Consideration Shares") in full satisfaction of the consideration for the BKCB Acquisition on and subject to the terms and conditions of the BKCB Agreement, be and is hereby approved and the Directors of the Company, be and are hereby authorised to take all necessary or, in the opinion of the Directors, desirable to give effect to and complete the BKCB Agreement as they think necessary or desirable. 3. The BKS Acquisition That the sale and purchase agreement between the Company (as purchaser) and BKCB (as vendor) dated 21 March 2002 (the "BKS Agreement") in respect of the acquisition of 1,715,000 ordinary shares of $1.00 each in the capital of Bintai Kindenko Private Limited ("BKS") (the "BKS Acquisition") be ratified and the proposed issue of 15,680,000 new ordinary shares of $0.05 each in the capital of the Company at $0.25 each (the "BKS Consideration Shares") in full satisfaction of the consideration for the BKS Acquisition on and subject to the terms and conditions of the BKS Agreement, be and is hereby approved and the Directors of the Company, be and are hereby authorised to take all necessary or, in the opinion of the Directors, desirable to give effect to and complete the BKS Agreement as they think necessary or desirable. 4. The allotment and issue of the BKCB Consideration Shares That pursuant to, and subject to the terms of, the BKCB Agreement, the Directors of the Company be and are hereby authorised to allot and issue 23,000,000 new ordinary shares of $0.05 each in the capital of the Company to Ong Puay Koon at an issue price of $0.25 for each BKCB Consideration Share. 5. The allotment and issue of the BKS Consideration Shares That pursuant to, and subject to the terms of, the BKS Agreement, the Directors of the Company be and are hereby authorised to allot and issue 15,680,000 new ordinary shares of $0.05 each in the capital of the Company to BKCB at an issue price of $0.25 for each BKS Consideration Share. 6. Appointment of Directors (a) That, subject to his consent, Ong Puay Koon be and is hereby appointed as an additional Director of the Company. (b) That, subject to his consent, Tan Hee Chai be and is hereby appointed as an additional Director of the Company. BY ORDER OF THE BOARD Teo Chin Kiang Willie Executive Chairman/Managing Director Date : 10 May 2002 Notes : 1. A Shareholder of the Company entitled to attend and vote at the above Extraordinary General Meeting is entitled to appoint one or more proxies to attend and vote in his stead. A Shareholder of the Company, which is a corporation, is entitled to appoint its authorised representative or proxy to vote on its behalf. A proxy need not be a Shareholder of the Company. 2. The instrument appointing a proxy duly executed must be deposited at the Company's registered office at 150 Kampong Ampat #01-01 KA Centre Singapore 368324 not less than 48 hours before the time for holding the Extraordinary General Meeting. Submitted by Teo Chin Kiang Willie, Executive Chairman on 10 May 2002 to the SGX |
| Pages: 1 | 2 of 2 |
|
Copyright © 2005 ShareInvestor Pte Ltd. All Rights Reserved. Please read our General Disclaimer & Warning carefully. Use of this Website constitutes acceptance of the Terms of Website Use. For Members, please read our Membership Terms and Conditions carefully. |
Design by InfiniteSparks
|