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Sevens Atelier Limited
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finjungle
Veteran |
30-Dec-2025 15:13
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When the price of shares jumped SGX queried but when share price goes down SGX remains numbed!!!!
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Newbie85
Veteran |
30-Dec-2025 13:17
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Moving up | ||
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Joelton
Supreme |
06-Sep-2024 12:08
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Sevens Atelier triggers SGX Query after shares surge by 150% (update)
Sevens Atelier has triggered a query by the Singapore Exchange S68 Regulation (SGX RegCo) after shares in the company surged by 150% to 5.5 cents as at Sept 5, from its last closed price of 2.2 cents.
This was deemed a month-long high as shares in Sevens Atelier 5EW were trading as low as 1.5 cents after releasing its 1HFY2024 results ended June 30.
The query was issued at 11.13am on the same day when shares in the company rose to 7.7 cents, 250% higher than its last-closed price. Shares in Sevens Atelier then climbed to an intra-day high of 10.2 cents at around 11.18am.
In its filing, SGX RegCo asked the group to release any information or possible explanations regarding the &ldquo unusual price movements&rdquo and to confirm its compliance with the Catalist listing rules.
In an update issued after the close of the market, Sevens Atelier said that the company is not aware of any possible explanation for the trading other than information previously announced concerning the company or its subsidiaries. The company maintains it is in compliance with the listing rules.
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Joelton
Supreme |
26-Sep-2023 09:09
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What you need to know about investigations involving Sevens Atelier, VCPlus
SEVENS Atelier : 5EW -2.5% and VCPlus : 43E -20% are under probe by the authorities for offences relating to the Securities and Futures Act.
Last week, Sevens Atelier said the Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) had ordered it to provide various documents and information relating to the investigation on Sep 20.
These include all e-mails from the corporate e-mail accounts of Richard Koh Chye Heng, the company&rsquo s immediate former executive chairman and chief executive Vanessa Lim Xiu Fang, its executive director and Tang Yao Zhi, a member of its management team.
Over the weekend, VCPlus said it was ordered by the authorities to provide information and documents, including those on its business dealings with Sevens Atelier in 2021 and 2022.
Here is some background on the two companies, and their relation to each other.
What is Sevens Atelier?
The property consultancy was incorporated in Singapore in 1979 and went public on Sep 16, 2004. It provides consultancy services for the design and build of premium landed properties in Singapore and Australia.
It was previously known by several names, including Pan Asian Water Solutions and more recently Pan Asian Holdings. It was then a piping solutions company.
The company changed its name to Sevens Atelier in June 2022 after acquiring Sevens Creation, a design and build business.
Along with the name change, the company also sold its existing businesses to former chief executive officer Koh, who is under investigation.
A bourse filing stated that Koh was interested in acquiring the business as he wanted to retire from managing a listed company given his age of 74 years at the time, and had planned to restructure the existing business as a private entity.
Sevens Atelier&rsquo s chief executive officer is Jeffrey Hong Eng Leong, who took over from Koh in July 2022.
Lim, the executive director who is also under investigation, was appointed in September 2021. She is the sister of the company&rsquo s controlling shareholder, Sylvester Lim Wei Zhi.
Sylvester Lim took control of the company in June 2021 following the transfer of 56 million shares, or 26.1 per cent of the share capital, for S$3 million from the previous controlling shareholder, Xu Jia Zu Holdings.
The company has a market capitalisation of S$8.6 million. Its latest financial statement showed that the company had a revenue of S$6.5 million for H2 ended Jun 30. It made a loss of S$935,000 in the same period, narrowed from S$3 million the year before.
What is VCPlus?
The Catalist-listed fintech company is an investment holding firm headquartered in Singapore. It offers consultancy services related to financial and blockchain technology.
It was first listed as Anchor Resources in 2016. At the time, the company functioned as a gold mining business.
However, it moved into the fintech sector after obtaining shareholder approval in April 2021. It also renamed itself VCPlus after entering a joint-venture agreement with CapitalX Global and five investors.
In November 2022, VCPlus&rsquo subsidiary, Custody Plus, received in-principle approval from MAS to provide custodial services for capital market products, including tokenised securities.
VCPlus has a market capitalisation of S$24 million.
Its executive director is Lim Beng Chew, who is under probe by the authorities. He was appointed to the board in February 2021.
In September 2021, the company acquired Apec Solutions, a management consulting and digital marketing agency, to grow its capabilities in the blockchain and fintech sector.
Apec Solutions&rsquo head is Cedric Yap Kun Hao, who is also under investigation.
The company said Lim and Yap have each attended an interview with CAD to assist in the investigation. They have also surrendered their travel documents to the authorities.
According to its latest financial results, VCPlus had a revenue of S$202,000 in H2 ended Jun 30. It made a loss of S$658,000 in the same period, compared to a S$793,000 loss the previous year.
How are the two companies related?
In a bourse filing on Saturday (Sep 23), VCPlus said it did not have any business dealings with Sevens Atelier in 2021, and the business dealings in 2022 related to website development were immaterial.
It did not provide further details about these business dealings.
Sevens Group, the previous parent company of Sevens Atelier, is listed as a client of Apec Solutions on its website.
Checks by The Business Times show that both Sevens Atelier and VCPlus share the same company secretary.
Hong, the chief executive officer of Sevens Atelier, was also a shareholder of Custody Plus.
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LowLow12
Elite |
21-Sep-2023 11:44
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This one formerly Pan Asian
All BBs died inside 永 无 超 生 |
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LowLow12
Elite |
21-Sep-2023 11:42
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said on Wednesday (Sep 20) that it is assisting the authorities with an investigation into an offence under the Securities and Futures Act.
In a bourse filing on Wednesday after trading hours, the property consultancy company said the Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) had ordered it to provide various documents and information relating to the investigation. These included all e-mails from the corporate e-mail accounts of Richard Koh Chye Heng, the company?s immediate former executive chairman and chief executive, Vanessa Lim Xiu Fang, its executive director, and Tang Yao Zhi, a member of its management team. The authorities also ordered Sevens Atelier to provide supporting documents relating to certain announcements it made between 2021 and 2022. These announcements included that of a new controlling shareholder of the company on Jun 22, 2021. |
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tedlim
Veteran |
13-Jul-2022 08:18
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SGX regco Trade with Cautious + Eric Cheng.....big sign of AVIOD for me | ||
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yau123
Senior |
11-Jul-2022 22:49
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SGX only allow share to drop. If up, they will keep query until investors lost confident and drop drasmatically.
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matrixxx
Senior |
09-Jul-2022 14:00
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This SGX really is one of kind, those stocks that should be queried, they are sleeping and did not do anything. Blumont. This kind that moves a bit and they make a make a big hoo ha out of it. Its a sad market in SG |
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Joelton
Supreme |
09-Jul-2022 09:25
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SGX RegCo issues &lsquo trade with caution&rsquo alert on Sevens Atelier
SEVENS Atelier : 5EW +14% was issued with a &ldquo trade with caution&rdquo alert by Singapore Exchange Regulation (SGX RegCo) on Friday (Jul 8), after its share price rose by 252.3 per cent from S$0.088 on Apr 28 to a high of S$0.31 on Jul 8 (Friday).
SGX RegCo noted that in the same period, the Straits Times Index had fallen by 6.1 per cent.
On Jun 13, the bourse watchdog issued a trading query to the company, formerly known as Pan Asian Holdings, about the unusual price movements in its shares.
In response, the company referenced an announcement on May 20, in which it sought approval to diversify into the design-and-build business through the proposed acquisition of Sevens Creation.
On April 28, 2022, Pan Asian Holdings Limited (Catalist:5EW) entered into a conditional sale and purchase agreement to acquire Sevens Creation Pte. Ltd from Mr. Cheng Lye Meng Eric for SGD 12 million on April 28, 2022.
Sevens Creation Pte. Ltd. which owns two wholly owned subsidiaries, Sevens Build Pte. Ltd. and Sevens Design Pte. Ltd. collectively, the target Group. The consideration for the sum of SGD 12 million for proposed acquisition which shall be satisfied by the Company in full by the issuance of unsecured loan notes by the Mr. Cheng Lye Meng Eric to the Pan Asian Holdings on the completion of the Proposed Acquisition.
In its circular, the company said that it has engaged in four principal businesses, including the general trading and supply of piping systems and related accessories, as well as the manufacturing, sales and distribution of valves.
On Jul 7, SGX RegCo issued another trading query to Sevens Atelier on unusual price movements, to which the company said it was not aware of any possible explanation.
SGX RegCo noted that between Apr 29 and Jul 8, a small group of accounts were responsible for over 70 per cent of the &ldquo buy&rdquo volume in Sevens Atelier shares.
The regulator&rsquo s initial findings also suggest that the accounts appeared connected to each other and to the vendor of Sevens Creation.
In response to a trading query on June 13, Sevens Atelier made reference to its May 20 announcement that had issued a circular seeking shareholders' approval to sell its existing business, and to also diversify into design and build business through the proposed acquisition of Sevens Creation.
The go-ahead was given by shareholders at an EGM on June 14. They also gave the go-ahead to change the company' s name to Sevens Atelier from Pan Asian Holdings.
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newstrends
Member |
07-Jul-2022 08:53
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Sevens Atelier - Luxury Design and Build Consultancy, embarks on next phase of growth as a listed entity- To provide a premium " white glove" service for an increasing number of discerning homeowners in Singapore- Increasing demand for its turnkey services, spanning from pre-purchase inspections of premium landed properties, to designing and building of luxury real estate - Ancillary services include pre-leasing consultations of business spaces for clients in the food and beverage industry Read more: https://www.shareinvestor.com/news/news.html?source=regional_acnnewswire& nid=372211 |
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