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ADVANCE SCT LIMITED

Yes....same feeling too....... If you buy at 5 cents now.....wait for other 2 months, this penny stock could end the year at 10 cents...... 100% profit return..... Good time to invest now......

 

The company's turnaround is firmly in play now. With an extremely strong gap up today in excess of more than 20million shares at 5 cents, there is likely going to be further upside. On the business side, I have a strong feeling that new initiatives and strategies are in place to grow the business. This will be a multi bagger in a few years' time. If the economic momentum sustains, this stock could end the year closer to 10 cents.

 

It is always good to know that the company makes the effort to restructure for better prospect. will like to see their full year result this year and how the new business will contribute.

 

What is the target price every one is expecting? Do share.

 

Yup....You are right ! A major move up in price can be expected when trading resumes.....At the beginning, I have no confidence in this penny stock as this company did not make any profit since last few years. However, I was planning to use my CPF investment to buy 300 lots at $0.035 once I did a survey that copper prices are a  high strategy wise the company is also broadening it's business portffolio. Good luck for those vested this counter !  

 

Gd news!! haha hopefully tomorrow will have gd results

 

News release by ASCT! A major move up in price can be expected when trading resumes!

This set of very positive moves by the company has surprised me and certainly confirms my anticipation of its plans to realign its business strategy and portfolio towards more profitable ventures. I had expected these developments but never throught they would happen so much so fast. It clearly demonstrates a deliberate approach by the management to take things forward once their debt problems are now behind them. NTA, EPS and Gearing are all significantly improved. Excellent!

Advance SCT repositions itself as Global Recycling and Wastes Management Expert
Singapore, 11 October 2010

Main‐board listed company Advance SCT Ltd (the Company) acquires two wastewater treatment plants and a sludge treatment plant in China. At the same time, it strengthens its current business in ferrous and non‐ferrous metal recycling and smelting by buying out the minority shareholders of two ongoing joint ventures in Singapore and acquiring a recycling yard in Johor.

The Company announced on 10 October 2010 that its wholly‐owned subsidiary Green World Holdings Limited (Greenworld) has entered into a conditional sale and purchase agreement on 8 October 2010 with Tongji Environment (Asia) Pte Ltd (Tongji) to acquire 100% of Aton Environmental (Anqing) Co Ltd and Aton Sludge Treatment (Jiangyin) Co Ltd, and 50% of Aton Environmental (Shenyang) Co Ltd from Tongji for an aggregate consideration of S$9.8 million, representing a 7% discount from an independent valuation of S$10.5 million. Greenworld will pay S$5.5 million in cash and the remaining S$4.3 million will be satisfied by shares of the Company. The Executive Chairman of Advance SCT, Mr Simon Eng, has a major stake in Tongji through his 80% shareholding in Belle Forte Ltd, the controlling shareholder of Tongji through its 51% stake.

According to Mr Simon Eng, the diversification into wastes and wastewater management forms an important part of the Company’s current efforts to reposition itself as a global recycling and wastes treatment expert. The acquisition will bring into the Company expertise in treating and recycling
municipal as well as industrial sludge and wastewater. This added capability will strengthen the Company’s competency in recycling and wastes management.

The Build, Operate and Transfer (BOT) model typical in the wastes and wastewater treatment business is stable and predictable. The Company believes that the acquisition which comprises three operating treatment plants on BOT contracts with municipal and local governments will give to the Group a stable stream of recurring incomes and a new channel for growth. This is especially so given that the plants are located in China where environmental protection will be even more important in the coming years as the government strives to ensure a clean environment for sustainable economic growth. Mr Simon Eng believes that the Company can also leverage on the relationships in the capital city of Shenyang, Liaoning province, and the wealthy county‐level port city of Jiangyin, Jiangsu province, where two of the treatment plants are located to augment its current business of recycling of ferrous and non‐ferrous metals.

That the Company will continue to build up its current business is evident from the fact that it has on the same day entered into conditional sale and purchase agreements to acquire the remaining 49% of Asia Copper Pte Ltd (Asia Copper) and 49.9% of New Tsingyi Pte Ltd (NTY) that it does not already own, making both companies wholly‐owned subsidiaries of the Group. Concurrently, it will acquire 100% of Soon Sing Metal Trading Sdn Bhd (SSMT), a company incorporated in Malaysia.

Asia Copper, which started the trading of copper scraps in July 2010 when copper price was low compared to recent peaks, is well poised to be the principal vehicle for the Group’s copper business, which will include copper smelting and refining. NTY, a company incorporated in Singapore in August 2009 as a joint venture between the Company and SSMT is engaged in the recycling and trading of scrap metals, principally aluminium and stainless steel. NTY operates from a factory in Singapore and has an international network of customers and suppliers. SSMT is well entrenched in the collection and trading of scrap metals in Malaysia. SSMT operates from a factory in Johor. The acquisition of SSMT will enable the group to expand its recycling business into Malaysia and also support the
Group’s smelting activities in Klang. The total consideration for the three acquisitions of S$4,582,000 will be satisfied by the issue of shares in Advance SCT.

Besides operational advantages, the acquisitions will strengthen the financial position of the Company. More than S$3 million of cash advances in the acquired companies will be retained in the Group, and its net tangible asset shall increase by close to S$10 million.

 

 

ADVANCE SCT LIMITED

(Company Registration No. 200404283C)

For immediate release

Advance SCT repositions itself as Global Recycling and

Wastes Management Expert

Singapore, 11 October 2010

Main

plants and a sludge treatment plant in China. At the same time, it strengthens its current business in

ferrous and non

ongoing joint ventures in Singapore and acquiring a recycling yard in Johor.

The Company announced on 10 October 2010 that its wholly

Holdings Limited (

October 2010 with Tongji Environment (Asia) Pte Ltd (

(Anqing) Co Ltd and Aton Sludge Treatment (Jiangyin) Co Ltd, and 50% of Aton Environmental

(Shenyang) Co Ltd from Tongji for an aggregate consideration of S$9.8 million, representing a 7%

discount from an independent valuation of S$10.5 million. Greenworld will pay S$5.5 million in cash

and the remaining S$4.3 million will be satisfied by shares of the Company. The Executive Chairman

of Advance SCT, Mr Simon Eng, has a major stake in Tongji through his 80% shareholding in Belle

Forte Ltd, the controlling shareholder of Tongji through its 51% stake.

According to Mr Simon Eng, the diversification into wastes and wastewater management forms an

important part of the Company’s current efforts to reposition itself as a global recycling and wastes

treatment expert. The acquisition will bring into the Company expertise in treating and recycling

municipal as well as industrial sludge and wastewater. This added capability will strengthen the

Company’s competency in recycling and wastes management.

The Build, Operate and Transfer (

business is stable and predictable. The Company believes that the acquisition which comprises three

operating treatment plants on BOT contracts with municipal and local governments will give to the

Group a stable stream of recurring incomes and a new channel for growth. This is especially so given

that the plants are located in China where environmental protection will be even more important in

the coming years as the government strives to ensure a clean environment for sustainable economic

growth. Mr Simon Eng believes that the Company can also leverage on the relationships in the

capital city of Shenyang, Liaoning province, and the wealthy county

Jiangsu province, where two of the treatment plants are located to augment its current business of

recycling of ferrous and non

That the Company will continue to build up its current business is evident from the fact that it has on

the same day entered into conditional sale and purchase agreements to acquire the remaining 49%

of Asia Copper Pte Ltd (

own, making both companies wholly

100% of Soon Sing Metal Trading Sdn Bhd (

Asia Copper, which started the trading of copper scraps in July 2010 when copper price was low

compared to recent peaks, is well poised to be the principal vehicle for the Group’s copper business,

which will include copper smelting and refining. NTY, a company incorporated in Singapore in August

2009 as a joint venture between the Company and SSMT is engaged in the recycling and trading of

scrap metals, principally aluminium and stainless steel. NTY operates from a factory in Singapore and

has an international network of customers and suppliers. SSMT is well entrenched in the collection

and trading of scrap metals in Malaysia. SSMT operates from a factory in Johor. The acquisition of

SSMT will enable the group to expand its recycling business into Malaysia and also support the

Group’s smelting activities in Klang. The total consideration for the three acquisitions of S$4,582,000

will be satisfied by the issue of shares in Advance SCT.

Besides operational advantages, the acquisitions will strengthen the financial position of the

Company. More than S$3 million of cash advances in the acquired companies will be retained in the

Group, and its net tangible asset shall increase by close to S$10 million.‐board listed company Advance SCT Ltd (the Company) acquires two wastewater treatment‐ferrous metal recycling and smelting by buying out the minority shareholders of two‐owned subsidiary Green WorldGreenworld) has entered into a conditional sale and purchase agreement on 8Tongji) to acquire 100% of Aton EnvironmentalBOT) model typical in the wastes and wastewater treatment‐level port city of Jiangyin,‐ferrous metals.Asia Copper) and 49.9% of New Tsingyi Pte Ltd (NTY) that it does not already‐owned subsidiaries of the Group. Concurrently, it will acquireSSMT), a company incorporated in Malaysia.

 

In a year's time, economic recovery permitting, a lot of people are going to be very surprised with how well this company will be turning itself around. I have been the company for a while now and really see a multi bagger in the making. What a lot of peole fail to look beyond is its negative gearing and net deficit position; not recognizing that the folks who took the company down are not the same to those now taking it back up. The balance sheet is being cleaned up and creditors have come in to extend the company a lifeline with an extended repayment term of 7 years and conversion of half of debt outstanding into convertible notes that will effectively reduce outstanding debt further. Copper prices are at a high and strategy wise the company is also broadening it's business portfolio into related competencies. Looking forward to this being one of my successful turnaround plays like yongnam, psl, ksh, and hiap Seng. Banjoo is the other recovery play I am vested into

 

Halt again ! Any good news to be shared ?

 

Keep a close watch on this.  The good news is on its way I believe and the company is certainly turning around now. No doubt about it.  There should be some news soon to confirm this and I can only hope that this will then take the share price significantly above where it is.  If this were to exceed 5 cents, I will be prepared to add to my current positions. 

 

Finally.... This counter is moving to $0.045

 

Article was also in Saturday's Business Times:

Unanimous endorsement from creditors for Advance SCT’s Scheme Singapore, 30 September 2010

Creditors of mainboard-listed company, Advance SCT (the “Company”) voted unanimously in favour of the Company’s proposed debt-restructuring scheme at a creditors meeting held on 30 September 2010. This is an uncommon occurrence for companies undergoing schemes of arrangement under Section 210 of the Companies Act. Advance SCT’s main business is in metal trading and resource recycling as well as wastes management. Advance SCT’s financial difficulties arose when commodity prices fell drastically in 2008. These financial difficulties were exacerbated in 2009 during the global financial crises, with debts increasing in excess of S$80 million.

The creditors have appointed Mr Neo Ban Chuan and Mr Cameron Duncan of KordaMenthaNeo as scheme administrators. The legal advisor of Advance SCT, Bernard Tan of Bih Li & Lee shall be submitting the debt-restructuring scheme to the High Court for approval shortly.

Executive Chairman of Advance SCT, Mr Simon Eng stated after receiving the endorsement that he “was pleased with the overwhelming support received from creditors and was grateful for the hard work of the company’s management and advisers in preparing the scheme”. Mr Eng added that the debt restructuring was the last major obstacle in the turn-around of Advance SCT, which reported a profit in its half-year unaudited financial statement in August 2010 after losing a total of more than $190 million in 2008 and 2009. With the debt restructuring behind it, the company’s board and management can now focus on repositioning itself as a global recycling and wastes management expert.

 

Good news ! Believe this counter will "cheong" and hot active today upon trading halt lifted this morning at 9.00am.

 

Reading through the creditor scheme documents and the news release, it seems that different creditors have their debts resturctured in different ways. A number of them have their debts converted fully into shares, and others have 50% converted into extended term loans and remaining amount into convertible notes. The debt outstanding when these notes are exercised should further reduce the debt. As it is, the term loan approved by the creditors is now 7 years and this should give the company enough time to turn around. Trading halt will be lifted tomorrow and the share movement will be very interesting to follow!

 

More news on some of the creditors' debts converted into shares and thereby reducing the debt of the company.

The Board of Directors of Advance SCT Limited (the “Company”) wishes to announce that it has entered into share issue agreements dated 30 September 2010 (the “Share Issue Agreements”) with 27 subscribers, further details and information of whom are set out in Appendix A of this announcement (collectively the “Subscribers). Pursuant to the Schemes of Arrangement in Singapore under section 210 of the Companies Act (Cap. 50) (the “Schemes”) as mentioned in our announcement no 00072 dated 19 January 2010, the meetings of creditors was held on 30 September 2010 and the Schemes were unanimously approved. The Company proposes to extinguish its debts by capitalizing and converting 100% of Eligible debt into Shares for those Subscribers who volunteered to do so as per Scheme Documents announced on 15 September 2010.

The rationale for the Company entering into the Share Issue Agreements is to allow the Company to reduce its debts, conserve cash resources and to strengthen the capital base of the Company, enabling the Company to be in a better strategic position to consolidate the Company’s financial resources to ensure long-term sustainability of the Company and to support the Company’s business activities.

Based on the audited accounts of the Company and its subsidiaries (the “Group”) for the half year ended 30 June 2010 (“1H2010”) and the issued and paid-up share capital of the Company as at the date of this announcement, the Subscription will decrease the net tangible liability per Share of the Group from 13.70 cents to 8.02 cents, and the net tangible liability per Share of the Company from 12.81 cents to 7.49 cents.

 

THIS IS IT! ALAS! EXCELLENT!

The Board of Directors ("Board") of Advance SCT Limited (the "Company", and together with its subsidiaries, the "Group") refers to the Company's earlier announcement dated 15 September 2010 informing shareholders that the Company and Tsing Yi had dispatched their respective scheme documents and that the Company had agreed to proposed amendments to the scheme documents.

The Company and Tsing Yi held their respective court meetings on 30 September 2010. The Board wishes to announce that the scheme creditors of the Company and Tsing Yi present and voting at the respective meetings unanimously approved the respective schemes of arrangement with the proposed modifications set out in Annex A and subject to certain conditions as set out in the resolutions attached in Annex B.

Pursuant to the terms of the schemes, KordaMenthaNeo will be the scheme manager for each scheme and it is contemplated that Messrs Neo Ban Chuan and Cameron Duncan will supervise the implementation of the schemes from the Effective Date of the schemes.

 

The halt must be in relation to the outcome of the creditor's meeting today.  I am keeping my fingers crossed that the outcome is positive.  There can only be 2 ways with this now - either the scheme is approved and the company's balance sheet is cleaned up or it faces potentially imminent liquidation.  If it is the former, the share price should pick up pace fairly quickly as it most recent financial 1H generated a positive operating income stream for the first time in many years.  If the creditors reject the resturcturing scheme then I think this is headed down the spiral.

 

halted! Any news?

carsem      ( Date: 29-Sep-2010 20:49) Posted: Time to acumulate this share...... This is a turn around play ....Going to post positive operation earning performance in Q4....../ Good luck to all vested this counter.

 

Beware of "NEGATIVE NAV". (CAVEAT EMPTOR)

carsem      ( Date: 29-Sep-2010 20:49) Posted: Time to acumulate this share...... This is a turn around play ....Going to post positive operation earning performance in Q4....../ Good luck to all vested this counter.