Between Nov 3 and 4,   CDW   : BXE -3.01% lead independent non-executive director Chia Seng Hee bought 567,800 shares at an average price of S$0.14 per share. 

 

This increased his direct interest from 0.19 per cent to 0.44 per cent. His preceding acquisition of 432,500 shares at S$0.125 apiece was in April.

 

Chia has over two decades of experience across Arthur Andersen, Singapore Technologies and GIC. He later served as senior director at Enterprise Singapore, overseeing China operations from Shanghai. 

 

Currently a corporate governance practitioner, he brings deep expertise in governance and risk management. He is a fellow of the Institute of Singapore Chartered Accountants.

 

The core activities of CDW Holdings include supplying LCD backlight units and precision parts for electronics, producing payment devices, and operating businesses in food and beverage, biotech R& D, healthcare, beauty products and bio-related intellectual property.

 

In August, CDW Holding reported H1 FY2025 (ended Jun 30) revenue of US$43.2 million, down 1.4 per cent from US$43.7 million in H1 FY2024, mainly due to a 15.8 per cent drop in LCD backlight units sales volumes to 1.7 million units.

 

This was partly offset by a strong OEM rebound, while gross margin held at 16 per cent versus 17.3 per cent a year ago. Cost optimisation drove administrative expenses down 24 per cent to US$7 million, narrowing the pre-tax loss to US$500,000, from US$2.5 million in H1 FY2024.

 

Overall, the group ended with a net loss of US$1 million in H1 FY2025, a 63 per cent improvement from a year ago. It is focusing on strengthening customer relationships across all segments and driving higher-margin products. 

 

It has also been exploring to diversify its business and production base, particularly in South-east Asia, establishing a Ho Chi Minh City office and assessing production feasibility in Vietnam.

 

CDW Holding BXE 6.25%   says it expects to report a &ldquo significant improvement&rdquo in its consolidated profit for the FY2022 ended Dec 31, 2022.

 

The higher profit is attributed to the improvement in its LCD backlight units and LCD parts and accessories segment. The group&rsquo s total delivery volume of LCD backlight units improved y-o-y due to the low base in the year before as its backlight unit productions were temporarily suspended in April and May 2022 due to Covid-19 restrictions in Shanghai.

 

In addition, more than 50% of the group&rsquo s LCD backlight units delivered during the year were for larger automotive digital instrument panels (over 10-inches), compared with 33% in the prior year.

 

As the US is expected to recover from the Covid-19 pandemic, CDW Holding also received &ldquo substantial&rdquo orders for mobile payment devices for its original equipment manufacturer business under the LCD parts and accessories segment. Orders for advanced model payment devices has enhanced the performance of this segment, says the group.

 

In addition, the group is expecting to recognise a gain on disposal on its previously-held 48.46% stake of ABio of 12.67 billion Korean won ($13.1 million). The group is also expecting to recognise a goodwill amount of around 17.51 billion Korean won.

 

The amount is &ldquo the excess of the sum of the consideration transferred and the fair value of the group&rsquo s previously held equity interest in ABio, over the net fair value of the identifiable assets acquired and the liabilities assumed and the amount of non-controlling interests in ABio [as at its acquisition date on April 4, 2022],&rdquo says the group.

 

The fair value assessment of ABio shares is still being determined.

 

The group will announce its results on March 1.