Between Jul 4 and 10, Accrelist : QZG 0% executive chairman and managing director Terence Tea Yeok Kian acquired 633,600 shares at an average price of S$0.05 per share. With a consideration of S$31,708, this increased his total interest in the Catalist-listed company from 26.18 per cent to 26.38 per cent. Dr Tea has gradually increased his total interest from 23.13 per cent at the end of 2023.   He is tasked with guiding the group&rsquo s expansion and strategic direction by identifying and fostering new business opportunities. His extensive corporate experience and strategic insights are invaluable to the board, particularly in advising on corporate affairs and driving business strategy implementation. 

 

Accrelist is vigorously exploring new ventures, with an intensified emphasis on medical aesthetics. Its wholly owned subsidiaries, operating under the Accrelist Medical Aesthetics umbrella and known as AM Aesthetics, along with AM Skincare, are at the forefront of this initiative. Accrelist also holds a majority 53.31 per cent stake in Jubilee Industries Holdings, a comprehensive provider in the electronic manufacturing services (EMS) sector, through its mechanical business unit. This unit specialises in precision plastic injection moulding and mould design and fabrication services, catering to the EMS industry&rsquo s needs.

The proposed transaction will be funded entirely by Accrelist Medical Aesthetics (Hainan)&rsquo s internally available disposable resources

 

ACCRELIST&rsquo S 95 per cent-owned subsidiary intends to acquire a 60 per cent equity stake in a health management company for 1.5 million yuan (S$280,000), said the Catalist-listed company on Wednesday (Jul 3). 

 

The subsidiary, Accrelist Medical Aesthetics (Hainan), will purchase 1.5 million newly issued and paid-up shares in Accrelist Nanjing, formerly known as Nanjing Yi Chuangyuan Health Management.

 

Information on Accrelist Nanjing&rsquo s book value and net tangible asset value attributable to the sale shares as at Mar 31 are not available as the company &ldquo never prepared management accounts and/or financial statements&rdquo , said Accrelist, which has business in skincare products, medical aesthetics and electronics solutions.

 

It added: &ldquo There is no open market value of the shares of Accrelist Nanjing as the latter is not publicly traded and no valuation has been carried out in connection with the acquisition.&rdquo

 

The proposed transaction will be funded entirely by Accrelist Medical Aesthetics (Hainan)&rsquo s internally available disposable resources, including loans it received from the group.

 

Following the acquisition, Accrelist&rsquo s executive chairman and managing director Terence Tea will be appointed Accrelist Nanjing&rsquo s legal representative and general manager for a term of two years.

 

Tea said: &ldquo Accrelist Nanjing&rsquo s foundation and comprehensive offerings provide a solid platform for growth. I am confident that our combined expertise and market knowledge will enable us to achieve significant milestones and create long-term value for our shareholders.&rdquo

 

The primary scope of business of Accrelist Nanjing ranges from remote health management services and traditional Chinese medicine to non-medical health services.

 

Prior to the acquisition, the company was wholly owned by Dong Qi Lin. The group said that Dong has no direct or indirect interests in the group and is not related with any of the group&rsquo s directors, controlling shareholders and their respective associates.

 

Additionally, Dong, Accrelist Nanjing and Accrelist&rsquo s subsidiary also entered into a supplementary agreement on Tuesday.

 

As part of the agreement, Dong and the subsidiary will transfer 2 per cent and 3 per cent, respectively, from their holdings of Accrelist Nanjing&rsquo s new share capital to a third-party service provider.

 

The new share capital of Accrelist Nanjing amounts to 2.5 million after combining the newly issued 1.5 million shares to the existing one million shares.

 

Accrelist noted that the disposal of shares is intended as a one-off management fee paid to the third-party service provider in exchange for services it had rendered to both Accrelist Nanjing and Accrelist Medical Aesthetics (Hainan) that had been &ldquo instrumental&rdquo to the acquisition.

 

Following the disposal, Dong will hold a 38 per cent stake in Accrelist Nanjing, while the subsidiary will own 57 per cent.

 

Accrelist subsidiary Accrelist QZG 0.00% Crowdfunding has entered into a sale and purchase agreement to acquire 56,269,397 ordinary shares in the capital of MClean Technologies Bhd &mdash representing approximately 28.5% of its issued and paid-up capital &mdash for RM9 million ($2.59 million).

 

MClean is listed on Bursa Malaysia&rsquo s ACE Market. It is principally engaged in the business of providing surface treatment, precision cleaning and packaging services. It has a track record of more than 20 years, mainly operating in Malaysia and Singapore with a smaller operation in Thailand. For 1QFY2024 ended March, MClean reported earnings of RM236,000.

 

Post-completion, Accrelist may explore potential strategic collaboration and cross-selling opportunities to expand its customer base, it said in a filing. 

 

The proposed acquisition does not change the principal business or cause a material change in the risk profile of the company, which is primarily in the aesthetics business, as well as the injection moulding business carried out under its subsidiary Jubilee Industries Holdings NHD 0.00% .

 

The consideration will be funded by internal resources.

Between Feb 20 and 21, Accrelist executive chairman and managing director Terence Tea Yeok Kian acquired 144,900 shares at an average price of S$0.04 per share. With a consideration of S$6,396 this increased his total interest in the Catalist-listed company from 25.26 per cent to 25.30 per cent. 

Between Feb 1 and 6, executive chairman and managing director Terence Tea Yeok Kian acquired 490,000 shares at an average price of S$0.044 per share. With a consideration of S$21,410 this increased his total interest in the Catalist-listed company from 25.02 per cent to 25.18 per cent.

 

Tea is responsible for the overall growth of the group, and his main role is to determine its strategic direction and acquire and nurture new businesses, while driving the formulation and implementation of business plans and strategies. Tea also serves as the executive chairman and CEO of Jubilee. Accrelist has also provided support to Jubilee in terms of market expansion, cost-review exercises, and capital control improvements.

 

Tea has been consistently acquiring shares in Accrelist on the open market since the end of November, when the share price was at S$0.031, and his total interest stood at 22.53 per cent.

Between Jan 11 and 17, Accrelist : QZG -2.22% executive chairman and managing director Terence Tea Yeok Kian acquired 800,100 shares at S$0.041 per share.

 

With a consideration of S$33,105 this increased his direct interest in the Catalist-listed company from 23.19 per cent to 23.44 per cent.

 

Dr Tea is also deemed interested in the 4,359,100 issued shares held by his wife Aileen Sim. This brings his total interest to 24.84 per cent and followed his acquisition of 2,365,900 shares at S$0.039 per share between Jan 4 and 9.

Between Jan 4 and 9, Accrelist : QZG +2.38% executive chairman and managing director Terence Tea acquired 2,365,900 shares at S$0.039 per share. With a consideration of S$92,816, this increased his direct interest in the Catalist-listed company from 22.43 per cent to 23.19 per cent. He is also deemed interested in the 4,359,100 issued shares held by his wife, Aileen Sim. This brings his total interest to 24.59 per cent.

 

Tea is responsible for the overall growth of the group, and his main role is to determine its strategic direction and acquire and nurture new businesses, while driving the formulation and implementation of business plans and strategies. Tea&rsquo s comprehensive knowledge and experience of the industry has aided the group to spot growth opportunities, especially during its restructuring period from 2013 to 2017.

 

Accrelist continues to actively pursue new opportunities, with a growing focus on medical aesthetics.

 

In addition, as a majority shareholder, Accrelist currently holds a controlling stake in Jubilee Industries Holdings : NHD 0%, a one-stop solutions provider within the electronic manufacturing services space. Through its mechanical business unit (MBU), Jubilee engages primarily in precision plastic injection moulding and mould design and fabrication services.

 

Tea also serves as the executive chairman and CEO of Jubilee. Accrelist has also provided support to Jubilee in terms of market expansion, cost-review exercises and capital control improvements.

 

Accrelist is organised into four major operating segments: financial technology the electronic components distribution business unit MBU and aesthetic medical services (AMS). For its H1 FY2024 (ended Sep 30), Accrelist reported revenue of S$8.3 million, S$1.6 million less than the S$9.9 million in H1 FY2023.

 

The group&rsquo s AMS segment contributed S$6.2 million of the S$8.3 million revenue reported for H1 FY2024. Accrelist noted its AMS segment is supported by resilient demand in an expanding market, with favourable long-term prospects.

 

The company added that amid an ageing population with rising affluence, the growing acceptance and accessibility of minimally invasive procedures has opened up new opportunities, as younger customers and men begin to seek aesthetic treatments.

 

The MBU segment in turn contributed S$1.7 million of the S$8.3 million revenue reported for H1 FY2024. This segment provides mould design and fabrication services for consumer electronics, household appliances, automotive and computer peripherals, as well as precision plastic injection moulding services for their customers&rsquo finished products.

 

The company noted in November that the MBU segment would continue to focus on its strategy of diversifying its customer base and expanding its product offering with higher margins, such as the development of submodule assemblies for automotives, to increase revenue amid the general automotive industry slowdown.