JEP Holdings Ltd. Recommends No Dividend for the Year Ended December 31, 2014; Reports Unaudited Group Earnings Results for the Full Year Ended December 31, 2014
February 17, 2015 at 04:31 am EST
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JEP Holdings Ltd. recommends no dividend for the year ended December 31, 2014. The company paid dividend of SGD 0.001 per ordinary share for the year ended December 31, 2013.
The company reported unaudited group earnings results for the full year ended December 31, 2014. For the year, the company reported revenue from continuing operations of SGD 49,777,000 compared to revenue from continuing operations of SGD 36,839,000 for the same period a year ago. Loss before tax from continuing operations was SGD 1,062,000 compared to profit before tax from continuing operations of SGD 2,084,000 last year. Loss after tax from continuing operations was SGD 1,525,000 compared to profit after tax from continuing operations of SGD 2,445,000 last year. Loss attributable to equity owners of the company was SGD 1,280,000 or 0.14 cents per diluted share compared to profit attributable to equity owners of the company of SGD 1,393,000 or 0.15 cents per diluted share last year. Net cash used in operating activities was SGD 5,008,000 compared to SGD 3,642,000 last year. Purchase of property, plant and equipment was SGD 1,981,000 compared to SGD 1,017,000 last year. Net assets per ordinary share were 3.8 cents as on December 31, 2014 compared to 4.0 cents per share last year. On company basis, net assets per ordinary share were 4.4 cents as on December 31, 2014 compared to 4.5 cents per share last year. The increased cash outflow was mainly due to loss before tax of SGD 0.9 million and adjustments for non-cash items comprising, (a) depreciation of property, plant and equipment of SGD 3.4 million, (b) amortisation of intangible assets of SGD 0.85 million, (c) gain on disposal of equipment of SGD 0.2 million and (d) gain on sales and leaseback and amortisation of SGD 0.5 million. Group revenue increased by SGD 12.9 million compared to fiscal 2013, largely driven by the aerospace segment, which contributed SGD 28.8 million, or 57.8% of total fiscal 2014 revenue.
JEP Holdings Ltd. is a Singapore-based investment holding company engaged in the provision of management services to its subsidiaries. The Company is a solution provider of precision machining and engineering services, with a primary focus on the aerospace industry. The Companyâs segments include Precision machining, Trading and others, and Equipment manufacturing. The Precision machining segment is a provider of precision machining services for aerospace, oil and gas, electronics and automotive industries. The Trading and others segment is a provider of machine sales and customized cutting tools for its customers. The Equipment manufacturing segment is a provider of large format precision engineering and equipment fabrication services. Its geographical segments include Singapore, Peopleâs Republic of China, Malaysia, USA, Canada and Others. Its subsidiaries include JEP Precision Engineering Pte Ltd, JEP Industrades Pte Ltd, Dolphin Engineering Pte Ltd and others.
JEP Holdings Ltd. Recommends No Dividend for the Year Ended December 31, 2014; Reports Unaudited Group Earnings Results for the Full Year Ended December 31, 2014