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Achieva reports lower turnover for 1H FY 2001 –
Electronics slowdown and business consolidation pulls Group into the red
16 August 2002, Singapore — Achieva Limited (“Achieva”), one of Asia Pacific’s top knowledge-based, value-added distributors and solutions providers focusing on electronics and IT-related products, today announced that its Group turnover (unaudited) fell by 6% from about $244.8 million in the first half of FY2001 to $230 million for the first six months ended 30 June 2002. The lower turnover is due to the slowdown of markets in Vietnam, China and Malaysia.

At half-time, the Group registered an operating loss before interest and tax of $3.4 million compared to an operating profit before interest and tax of $6.2 million for the corresponding period last year.

The Group’s weak financial performance was attributable to a few key factors:

– Losses of $2.9 million incurred by the PC peripherals sub-group which had to reduce margins to
maintain market share;

– Reduced margins in the electronic components sub-group;

– One-time write-off in investments relating to Nano Storage Pte Ltd of $1.9 million;

– Start-up investments for expanding its operations into North Asia especially in the People’s Republic of China (PRC); and

– Unrealised translation loss due to weakness in the US$

Due to funding difficulties faced by Nanochip, Inc., Achieva took a decision to voluntarily liquidate Nano Storage so as to cut losses. In the event of a successful funding exercise by Nanochip, Inc., the Group may be able to recover $965,000 as per the terms of the convertible notes issued by Nanochip, Inc. Achieva had earlier concluded an Asia-Pacific distribution agreement with Nanochip, Inc., and would be able to benefit from the Asian distribution rights for Nanochip’s products should they go into commercial production.

Earnings per share fell from 0.91 cents in the …

Achieva reports turnover jump of 42% to reach $482.2 million
March 13, 2002, Singapore — Mainboard-listed Achieva Limited (“Achieva” or “the Group”), one of the top Asia-Pacific knowledge-based, value-added distributors and IT solutions providers focusing on electronics and IT-related products, today reported that its group turnover rose 42% from $340.0 million to $482.2 million for the financial year (FY) ended December 31, 2001. The increase in turnover was driven mainly by improved sales in the PC peripherals, parts and software as well as the electronic components businesses. These two businesses accounted for 99% of the Group’s total turnover.

Operating profit before tax and interest however dipped 52% to $7.2 million in FY2001 from $14.8 million in the same period last year. The lower profit was attributed to the following factors:

– Lower margins due to deteriorating business conditions in the telecommunication and data
communication industry in the second half of FY2001;
– thinner margins necessitated by the need to increase market share in a highly competitive market;
– research and development (R&D) investments in the Strategic Technologies group.

Group EPS fell to 0.92 cents from 2.38 cents while net tangible asset backing per ordinary share increased to 12.03 cents from 11.63 cents. The Group maintains a healthy cash position – the Group’s cash reserves rose from S$20.6 million in FY00 to S$30.1 million in FY2001.

Key Contributors
The year-on-year growth in turnover of the PC peripherals, parts and the electronic components businesses was 48% and 21% respectively. The growth in the PC peripherals business was mainly driven by a growth in the China market of S$81 million over the last financial year.

The electronic components business contributed the bulk of the Group’s earnings in FY2001. It registered an operating profit before tax and interest of $6.9 million in FY2001 …

Achieva reports lower turnover for 1H FY 2002 –
Electronics slowdown and business consolidation pulls Group into the red
16 August 2002, Singapore — Achieva Limited (“Achieva”), one of Asia Pacific’s top knowledge-based, value-added distributors and solutions providers focusing on electronics and IT-related products, today announced that its Group turnover (unaudited) fell by 6% from about $244.8 million in the first half of FY2001 to $230 million for the first six months ended 30 June 2002. The lower turnover is due to the slowdown of markets in Vietnam, China and Malaysia.

At half-time, the Group registered an operating loss before interest and tax of $3.4 million compared to an operating profit before interest and tax of $6.2 million for the corresponding period last year.

The Group’s weak financial performance was attributable to a few key factors:

– Losses of $2.9 million incurred by the PC peripherals sub-group which had to reduce margins to
maintain market share;

– Reduced margins in the electronic components sub-group;

– One-time write-off in investments relating to Nano Storage Pte Ltd of $1.9 million;

– Start-up investments for expanding its operations into North Asia especially in the People’s Republic of China (PRC); and

– Unrealised translation loss due to weakness in the US$

Due to funding difficulties faced by Nanochip, Inc., Achieva took a decision to voluntarily liquidate Nano Storage so as to cut losses. In the event of a successful funding exercise by Nanochip, Inc., the Group may be able to recover $965,000 as per the terms of the convertible notes issued by Nanochip, Inc. Achieva had earlier concluded an Asia-Pacific distribution agreement with Nanochip, Inc., and would be able to benefit from the Asian distribution rights for Nanochip’s products should they go into commercial production.

Earnings per share fell from 0.91 cents in the …

Achieva posts $464.6 million sales for FY2002
– Group to sharpen focus on margin-driven business in FY2003
March 13, 2003, Singapore — Mainboard-listed Achieva Limited (“Achieva” or “the Group”), one of the top Asia-Pacific knowledge-based, value-added distributors and IT solutions providers focusing on electronics and IT-related products, today reported a group turnover of S$464.6 million for the financial year ended 31 December 2002.

The Group registered a 3.7% decline in turnover from the corresponding period last year, primarily due to lower sales from the Group’s PC peripherals business as well as severe price erosion resulting from oversupply in markets such as Singapore and Vietnam. On the other hand, markets in Australia and Malaysia enjoyed steady sales growth of 10.2% and 12.5% respectively, while the Philippines posted modest growth of 3.7%. The Group’s electronic components business increased its contribution to turnover by 2.6%, part of which came from new markets in North Asia.

The financial year closed with a net loss of S$7.9 million, which reflected the challenging market conditions that led to eroded profit margins for both the PC peripherals and electronic components businesses. The Group’s operating loss for the year was also due partly to a one-time write-off of S$2.2 million for its investment in Nano Storage Pte Ltd, start-up costs associated with the expansion of its electronic components business in North Asia, provision for doubtful debts and stock obsolescence and write-offs mainly in the PC peripherals business, as well as unrealised forex losses. The Group on a prudent basis has made a further provision for doubtful debts and is actively pursuing the recovery of these debts.

Loss per share for the Group is 1.78 cents, while net asset value (NAV) per share is 11.14 cents.

Commenting on the results, Mr Henry Lim, President and CEO of Achieva, said: …

12 August 2003, Singapore — Achieva Limited (“Achieva”), one of Asia Pacific’s knowledge-based, value-added distributors and solutions providers focusing on electronics and IT-related products, today announced that the Group has turned around its business with a profit after tax of about S$1 million for the first six months ended 30 June 2003, compared to a loss of S$4.4 million for the corresponding period last year.

At half-time, the Group achieved net earnings of S$994,000 – compared to a loss of S$4.4 million last year – on the back of a group turnover which grew slightly to S$232.7 million.

Earnings per share was 0.22 cent in the first half of this year compared to a loss per share of 0.99 cent. Net tangible assets backing per share also rose from 11.14 cents to 11.36 cents.

In terms of segmental contribution, the Electronic Components group continued to chalk up increased sales while remaining profitable, while the PC peripherals group registered an operating profit (before interest and taxation) of S$181,000 on a slight dip in sales.

Turnover for the Group’s Electronic Components group grew by 30% from S$37.3 million in the first half of last year to S$52.8 million this half-year, reflecting an increase in contribution from its Components North Asia sub-group. Sales from the Electronics Components Division in North Asia increased significantly by S$17.6 million, compared to only S$245,000 last year.

Operating profit for the Electronic Components group decreased by S$129,000 compared to the previous period. The Components North Asia group managed to almost break even in the first six months of FY2003 compared to a loss in the previous corresponding period, while the Components South Asia group managed to maintain margins for the first half of this year.

Commenting on the results, Mr Henry Lim, President and CEO of Achieva, said: …

Achieva Returns To The Black With Net Profit Of $2.7 Million In Fy2003, Reversing A Net Loss Of $7.2 Million In FY02
– Group turnover grew 12.2% to reach $521.3 million
– Group to sharpen focus on electronics components business to take advantage of the global recovery in the semiconductor industry
– North Asian markets continue to drive growth

Singapore, February 26, 2004: Mainboard-listed Achieva Limited, one of Asia Pacific’s top knowledge-based, value-added distributors and solutions providers focusing on electronics and IT-related products, today reported a Group net profit of S$2.7 million on a turnover of S$521.3 million for the financial year ended 31 December 2003.

The Group returned to profitability from a loss of S$7.2 million in FY2002 due mainly to higher sales and profit contributions from its electronics components business, lower operating expenses as a result of streamlining of its PC Peripherals business and the write-back of provisions made in previous years.

The Group registered a 12.2% increase in turnover, primarily due to higher sales from the Group’s Electronics Components (Components) division, especially in Greater China and India, which saw aggregate revenue grow from S$4.5m to S$50m. Sales growth in the second half of FY03 was stronger as the Group benefited from an upturn in the semiconductor industry, especially the robust growth in the North Asian markets such as China and Taiwan. The Components division registered a revenue growth of 55.5% to S$116.3 million. Profit before interest grew 36.8% to S$7.0m.

For the PC Peripherals division, revenue increased by 3.9% to S$404.4m. Losses from this division were reduced from S$6 million to S$1.4 million. The reduction was mainly due to the decline in operating costs.

The Group’s overall operating cost was reduced by 21.3% to S$21.5 million.

Earnings per share for the Group is 0.6 cents, while net …

Achieva registered 78% increase in net profit to S$1.8 million for first half of 2004
– Group turnover increased 26% to s$296.3 million
– Growth driven by electronic components division
– Group to forge ahead with own brand of ce products under “astone” brandname

Singapore, 12 August, 2004: Mainboard-listed Achieva Limited, one of Asia Pacific’s top knowledge-based, value-added distributors and solutions providers focusing on electronics and IT-related products, has achieved a 78% increase in profit after tax and minority interests to S$1.8 million for the first half of FY2004, up from S$1.0 million in the corresponding period last year.

The improvement in Achieva’s net profit was mainly attributable to improved sales in the electronics components division, a turnaround in the PC peripheral division and better contributions from associated companies. Profits from the electronics components division for the first half of 2004 was S$4.4 million, nearly doubled that of the previous period on the back of better demand. The PC peripherals division recorded a profit before accounting for provision of doubtful debts and stock obsolescence of S$1.1 million, versus a loss of S$1.1 million for the first half of 2003. Loss after provisions was S$1.5 million for the first six months compared to S$1.6 million previously.

Turnover increased — up by 26% to S$296.3 million compared to S$234.2 million in the same period last year. Of the group’s turnover, the electronic components division contributed 31%, up from 21% in the first half of 2003, whilst the PC peripherals division contribution fell from 79% to 69% in the first half of 2004.

The Group’s electronic components division contributed S$93 million in the first six months of 2004, an increase of 93% from S$48 million last year. Of the S$93 million turnover, the Components South Asia and North Asia Group recorded an increase …

Singapore — Main board-listed Achieva Limited (“Achieva” or “the Group”), one of Asia Pacific’s top knowledge-based, value-added distributors and solutions providers focusing on electronics and IT-related products, today reported a higher group turnover of S$305 million for the first six months ended 30 June 2005.

The Financial Statement is in Adobe PDF format. You can download the Adobe Reader here.…