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Buy in when it is still low !
Last retrieved on Monday, 23 Apr, 2007 at 11:41:11 AM
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| Day High: | 0.090 | Net Change: | 0.005 | Total Value: | 5,626,520 |
| Day Low: | 0.075 | Last Done: | 0.080 | Volume: | 68,855,000 |
MOBILE phone services provider mDR Ltd, formerly known as Accord Customer Care Solutions (ACCS), may take in strategic investors as part of its plan to raise capital to fund its expansion.
This was disclosed by chairman Philip Eng in the company's first annual report under its new corporate identity - an attempt to distance itself from its scandal-hit past which resulted in prison terms for several key executives, including former chief executive officer Victor Tan.
Said Mr Eng: 'The continuous efforts on improving margins, successful execution of our new plans, and the fact that historical matters are largely closed and the books 'cleaned' will enable the group to move forward and improve its financial performance in FY2007.
'To carry out our expansion plans, we will require additional funding for our planned investments and working capital. We are exploring different options including strategic investors.'
The company had previously made a successful rights issue to repay and reschedule its bank loans and facilities, for working capital, as well as funding for planned restructuring and investment in growth markets.
Mr Eng, who took over the chairmanship in June 2005, also noted that while FY2006 appeared to be a quieter year after its tumultuous past, management underestimated the challenges faced by the group in restructuring its complex regional AMS (after market services) businesses. As a result the group had to provide $21.3 million for impairments and restructuring charges for FY2006.
During the past financial year it had not only reduced its debt by $14.2 million but had settled all outstanding issues with Nokia, whose complaint to the authorities that it had been billed for repairs not carried out resulted in probes by the Commercial Affairs Department and the subsequent conviction of key personnel.
Mr Eng said the restructuring of the business model and service network has been 'substantially completed'.
'While previously the AMS network expansion was geared towards building up an association with a list of brand names and service centres throughout the region, our restructured network is rooted on the provision of quality after-market services for global brands on a regional basis. In short, this requires shifting our business model towards regional management of customers and focusing on aligning our service and retail network to customers' requirements.'
This resulted in the closing of some AMS operations, including those in Thailand, and selling off its New Zealand business. Some restructuring work remains in Australia, Indonesia and Taiwan.
In the area of distribution and retail (DMS), a high volume, low margin business, the company has opened its first retail shop in Bangkok and plans to establish a network in Malaysia and Thailand. In Singapore, it is working with key partners to introduce a sales model that moves away from its current brick-and-mortar setup.
mDR reported a loss of $32.9 million on a 5 per cent decline in revenue to $268.7 million.
There is no idea, but if you read this posting regarding MDR, in the very first day I already invested 10 mths ago at average price of S$0.045 with volume of 500K. I think it is better than getting ineterest from Fixed Deposit from any banks ! I kept reminding people to watch out for this counter and no one want to listen.
Time to take profit liao ! Good Luck.
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| Weighted Average Prices: | 0.0607 | Last Done Prices: | 0.060 |
| Spread/Price Ratio: | -1.0000 | AVG Trade Size: | 252,575.758 |
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| Day High: | 0.070 | Net Change: | 0.010 | Total Value: | 4,513,255 |
| Day Low: | 0.060 | Last Done: | 0.065 | Volume: | 68,892,000 |
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Last retrieved on Friday, 13 Apr, 2007 at 11:46:51 AM
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| Weighted Average Prices: | 0.0656 | Last Done Prices: | 0.070 |
| Spread/Price Ratio: | 1.0000 | AVG Trade Size: | 357,729.592 |
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Hi,
Today cheong liao !
Introduction
The Board of Directors of mDR Limited (the ?Company?) wish to announce that they
have reached a settlement with a creditor of the Company (the ?Creditor?) in respect of
outstanding amounts owing to the Creditor of approximately S$3.12 million.
The settlement shall be completed by the issue of 69,439,182 new ordinary shares of
the Company (the ?New Shares?) at an issue price of S$0.04491 for each New Share
(the ?Issue Price?).
The Issue Price represents a discount of 10% to the weighted average price of S$0.0499
per share for trades done on the Official List of the Singapore Exchange Securities
Trading Limited (the ?SGX-ST?) for the period commencing 28 February 2007 (being the
full market day immediately preceding the date of the settlement letter) up to 12.00 noon
on 1 March 2007 (being the time of execution of the settlement letter).
Condition Precedents
The Issue is subject to and conditional upon approval in-principle being obtained from
the SGX-ST for the listing and quotation of the New Shares on the SGX-ST and such
approval not having been revoked or amended and, where such approval is subject to
conditions, to the extent that any such conditions for the listing and quotation of the New
Shares on the SGX-ST are required to be fulfilled on or before the date of completion of
the Issue, they are so fulfilled.
The Company will be making an application to the SGX-ST for the listing and quotation
of the New Shares on the Official List of the SGX-ST.
BY ORDER OF THE BOARD
Huang Wenjian Eugene
Company Secretary
Singapore
1 March 2007
have reached a settlement with a creditor of the Company (the ?Creditor?) in respect of
outstanding amounts owing to the Creditor of approximately S$3.12 million.
The settlement shall be completed by the issue of 69,439,182 new ordinary shares of
the Company (the ?New Shares?) at an issue price of S$0.04491 for each New Share
(the ?Issue Price?).
The Issue Price represents a discount of 10% to the weighted average price of S$0.0499
per share for trades done on the Official List of the Singapore Exchange Securities
Trading Limited (the ?SGX-ST?) for the period commencing 28 February 2007 (being the
full market day immediately preceding the date of the settlement letter) up to 12.00 noon
on 1 March 2007 (being the time of execution of the settlement letter).
Condition Precedents
The Issue is subject to and conditional upon approval in-principle being obtained from
the SGX-ST for the listing and quotation of the New Shares on the SGX-ST and such
approval not having been revoked or amended and, where such approval is subject to
conditions, to the extent that any such conditions for the listing and quotation of the New
Shares on the SGX-ST are required to be fulfilled on or before the date of completion of
the Issue, they are so fulfilled.
The Company will be making an application to the SGX-ST for the listing and quotation
of the New Shares on the Official List of the SGX-ST.
BY ORDER OF THE BOARD
Huang Wenjian Eugene
Company Secretary
Singapore
1 March 2007
(the ?Issue Price?).
The Issue Price represents a discount of 10% to the weighted average price of S$0.0499
per share for trades done on the Official List of the Singapore Exchange Securities
Trading Limited (the ?SGX-ST?) for the period commencing 28 February 2007 (being the
full market day immediately preceding the date of the settlement letter) up to 12.00 noon
on 1 March 2007 (being the time of execution of the settlement letter).
Condition Precedents
The Issue is subject to and conditional upon approval in-principle being obtained from
the SGX-ST for the listing and quotation of the New Shares on the SGX-ST and such
approval not having been revoked or amended and, where such approval is subject to
conditions, to the extent that any such conditions for the listing and quotation of the New
Shares on the SGX-ST are required to be fulfilled on or before the date of completion of
the Issue, they are so fulfilled.
The Company will be making an application to the SGX-ST for the listing and quotation
of the New Shares on the Official List of the SGX-ST.
BY ORDER OF THE BOARD
Huang Wenjian Eugene
Company Secretary
Singapore
1 March 2007
The Issue Price represents a discount of 10% to the weighted average price of S$0.0499
per share for trades done on the Official List of the Singapore Exchange Securities
Trading Limited (the ?SGX-ST?) for the period commencing 28 February 2007 (being the
full market day immediately preceding the date of the settlement letter) up to 12.00 noon
on 1 March 2007 (being the time of execution of the settlement letter).
Condition Precedents
The Issue is subject to and conditional upon approval in-principle being obtained from
the SGX-ST for the listing and quotation of the New Shares on the SGX-ST and such
approval not having been revoked or amended and, where such approval is subject to
conditions, to the extent that any such conditions for the listing and quotation of the New
Shares on the SGX-ST are required to be fulfilled on or before the date of completion of
the Issue, they are so fulfilled.
The Company will be making an application to the SGX-ST for the listing and quotation
of the New Shares on the Official List of the SGX-ST.
BY ORDER OF THE BOARD
Huang Wenjian Eugene
Company Secretary
Singapore
1 March 2007
full market day immediately preceding the date of the settlement letter) up to 12.00 noon
on 1 March 2007 (being the time of execution of the settlement letter).
Condition Precedents
The Issue is subject to and conditional upon approval in-principle being obtained from
the SGX-ST for the listing and quotation of the New Shares on the SGX-ST and such
approval not having been revoked or amended and, where such approval is subject to
conditions, to the extent that any such conditions for the listing and quotation of the New
Shares on the SGX-ST are required to be fulfilled on or before the date of completion of
the Issue, they are so fulfilled.
The Company will be making an application to the SGX-ST for the listing and quotation
of the New Shares on the Official List of the SGX-ST.
BY ORDER OF THE BOARD
Huang Wenjian Eugene
Company Secretary
Singapore
1 March 2007
It is still ok after they settle their biggest case with the children (Teochew) phone - Nokia.
Hopefully, with Mr. Eng's spearheading of this organisation, there should be something postive. Good Luck.
I am looking at this MDR... anyone has any insight into this company (formerly ACCS). I believe they are still in the phone biz but not sure how are they doing? Are Nokia, Motorola still outsourcing the repair work to them, or have they lost it to some other companies?
Do you think the new CEO is capable of turning ard the company?
What is the procedure to apply then?
After book closure on 16 June, I will be asked by my broker to pay for the allocated rights? After which, the rights will be converted to mother shares automatically?
Thanks in advance
- Kim Eng is under writing it for ACCS, it name is changed to mDR limited, right of 1 for 2 shares held at $0.040cts book closure at June 16, 2006 ( pls check it out for date closure). It mean if U hold 10000 shares of ACCS. U have right to subcribe to 5000 shares at 4 cents, another word it 5000 (equal to 5 lots) x 4cents = $200/- and good luck to your all. Hope it help. Yah...