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Advancer Global to dispose of G3 Environmental for $22 mil
Advancer Global has entered a definitive sale and purchase agreement with Re Sustainability for the disposal of G3 Environmental and its subsidiaries for a purchase consideration of $22 million.
The group is a wholly-owned subsidiary of Kenmoore Mezzanine Investments (Kenmoore) and Tee Infrastructure (Tee).
G3 Environmental, which was incorporated in Singapore in 2017, focuses on the business of waste collection and recycling of metal waste and scrap.
According to an Aug 6 announcement, TEE, the major shareholder of G3, has led discussions on the proposed disposal as part of its parent company&rsquo s corporate restructuring.
The group adds that the disposal is &ldquo in the best interest of the company and its shareholders&rdquo as it is expected to improve the financial position and liquidity of Advancer Global 43Q .
Due to the group&rsquo s minority stake in G3, which stood at 20.1%, the disposal is not expected to have a significant impact on the existing operations and business of the group, reads the Aug 6 release.
On a pro forma basis, had the disposal been completed on Dec 31, 2023, the group&rsquo s net tangible assets (NTA) for FY2023 would have been up at $30.1 million from $28.9 million previously. NTA per share would have stood at 11.97 cents from 11.51 cents previously.
Had the proposal been completed on Jan 1, 2023, the group&rsquo s loss for FY2023 would have stood at $3.2 million from a loss of $3.9 million previously. Loss per share would have been reduced to 1.28 cents from 1.57 cents previously.
SAC downgrades Advancer Global to ' hold' with lower TP of 12.8 cents
SAC Capital has downgraded its recommendation on Advancer Global to " hold" from " buy" as it sees the ongoing crunch in manpower as the company' s " biggest bugbear" .The company, for the 1HFY2021 ended June, reported an 8.5% y-o-y decline in revenue of $30.0 million, which stood below the brokerage' s estimates at 42.0% of its FY2021 forecast.
The placement of domestic helpers was hurt by the entry restrictions into Singapore. The segment now accounts for just 12% of Advancer Global' s revenue.
To this end, the company' s bottomline slipped into a loss of $0.9 million for the half-year period.
As such, SAC Capital analyst Lam Wang Kwan has lowered his target price estimate to 12.8 cents from 13.4 cents previously.
The downgrade as well as the lower target price reflects a softer earnings outlook. The lower target price translates to 0.7 times of Advancer Global' s FY2022 book.
" We now expect FY2021 and FY2022 to report net loss of $1.8 million and $1.7 million from [our previous forecast of] net profit $0.4 million per FY respectively," says Lam.
He adds that the company has a clean balance sheet with net cash of $23 million, although downside risks lie in the Covid-19 lockdowns in the " source countries" , the cost increase from more preventive measures, as well as the pivot towards automation.
Shares in Advancer Global closed flat at 12 cents on Sept 2.
More than a year since the last post lol
Anyone interested in this counter...should watch out for action just like the other clean room /COVID-19 related counters.
Cheers.
Cheers.
francisd ( Date: 11-Aug-2020 11:04) Posted:
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This counter should be moving up soon also then...going cheap if counters like Acromec and Kitchen Culture could move up.. its the matter of time I should day.
Watch out guys.
Cheers.
Vested.
Watch out guys.
Cheers.
Vested.
This stock going to bankrupt soon? Drop to less than 10cents already. OMG!
More corporate orders for cleaning services with the current outbreak?
Advancer Global: General Announcement :: ADVANCER GLOBAL SECURES FACILITIES MANAGEMENT SERVICES CONTRACTS TOTALLING S$10.7 MILLION
http://repository.shareinvestor.com/rpt_view.pl/id/732390.1/type/sgxnet/original_filename/1
Engine could be starting to move soon
think prices are coming down cause there' s very little buy volume, and some folks need to cash out so need to sell at whatever the buy price is being queued for that day.
looking forward to recovery nearer the next half yearly earnings report sometime in Aug!
looking forward to recovery nearer the next half yearly earnings report sometime in Aug!
wonder what is the logic behind ? Private deal at 40cts which is way above the market price.
But at least it makes me feel good, since I am holdimg at 40cts too. LOL.
May enter to average down.
But at least it makes me feel good, since I am holdimg at 40cts too. LOL.
May enter to average down.
think2profit ( Date: 11-May-2017 14:53) Posted:
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Tikam some today....lol
price drop, hold or sell?
So why the placee went in at 40c, which is 20% above market price? They know something that market doesn' t know??
hardwired ( Date: 07-May-2017 09:22) Posted:
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This company' s valuation is too high, PE of 23x and PB of 4x are quite unattractive. Also, it' s performance is not showing exceptional growth so very hard for price to rise.
Why does the placees agree to buy at 40c from the company instead of buying from market at cheaper price?
Just4win ( Date: 03-May-2017 06:40) Posted:
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Fully reconver for hospital sick leave... on the way flying to the skuy !
Tq.. so if this counter ready to move towards 4x cents ?
grateful ( Date: 02-May-2017 23:35) Posted:
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Private placement at $0.40 per share and exercise price for warrant is $0.45.
Share price closed at 33 cents today.
http://www.theedgemarkets.com.sg/advancer-global-raise-5-mil-strategic-investor-mes-group
Price has been dropping even when most are in Green.
Worse than MC.. still hv to lose $ to see doctor,
newbieKK ( Date: 21-Apr-2017 15:03) Posted:
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