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Stocks In Focus SG (Libra Group, XMH Hldgs, YuuZoo Corp) – 17/03/15
Libra Group has entered into a conditional sale and purchase agreement to acquire a 100 percent stake of Cyber Builders for $1 million, which will be satisfied via the issuance of 4.5 million new shares in the firm at $0.22 per share. Cyber Builders is a general contractor with Building and Construction Authority main contractor grading of C1 that allows it to tender for public sector projects with values up to $4.2 million. The group believes that the acquisition would be complementary and synergistic to its existing building construction business and sees potential in Cyber Builders in light of its possible upgrade to a BCA B1 main contractor license, which will increase its tendering capacity for public projects to $42 million.
XMH Holdings reported a 16.6 percent decline in turnover to $68.1 million for the nine months ended 31 January 2015, underpinned by lower contributions from its distribution and after-sales divisions. Gross margin improved 3.7 percentage points to 28.9 percent, which helped arrest the fall in gross profit at 4.2 percent to $19.7 million. However, net profit shrank 38.8 percent to $4.8 million, attributable to increased administrative costs from the inclusion of newly-acquired Mech-Power Generator’s results.
YuuZoo Corporation has launched a localised version of its virtual shopping mall in Turkey through a joint venture with a local partner, tapping on one of the fastest growing social e-commerce and gaming markets in Europe. The deal, signed under a franchise model, provides YuuZoo with a significant stake in the franchise, with the stake valued at US$2.7 million.
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