achieva ltd (ACH) Snapshot

Achieva Limited reported unaudited group earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of SGD 30,915,000 against SGD 37,964,000 a year ago. Other operating income was SGD 260,000 against SGD 349,000 a year ago. Loss from operations was SGD 823,000 against profit from operations of SGD 144,000 a year ago. Loss before tax was SGD 861,000 against profit before tax of SGD 84,000 a year ago. Loss after tax attributable to owners of the company was SGD 869,000 against profit after tax attributable to owners of the company of SGD 59,000 a year ago. Profit attributable to owners of the company was SGD 74,000 against SGD 237,000 a year ago. Net cash flows generated from operating activities was SGD 2,284,000 against SGD 3,583,000 a year ago. Purchases of plant and equipment were SGD 558,000 against SGD 39,000 a year ago. Net asset value per share as at March 31, 2013 was 8.13 cents.

Achieva Limited, Annual General Meeting, Apr 25, 2013., at 10:30 Singapore Standard Time. Location: #06-00, 100J PASIR PANJANG ROAD. Agenda: To receive and adopt the directors report and audited accounts for the year ended 31 December 2012; to approve the payment of directors fees of SGD 183,000 for the year ended 31 December 2012; to re-elect Mr. Tay Teng Guan Arthur as a director retiring under article 104 of the articles of association of the company; to re-elect Mr. Lew Syn Pau as a director retiring under article 104 of the articles of association of the company; to reappoint Messrs Ernst & Young LLP as auditors of the company to hold office until the conclusion of the next annual general meeting and to authorize the directors to fix their remuneration; and consider to any other ordinary business, which may be transacted at an annual general meeting.

Achieva Limited reported unaudited group earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported revenue of SGD 28,846,000 against SGD 30,550,000 a year ago. Profit from operations was SGD 155,000 against loss from operations of SGD 23,000 a year ago. Profit before tax was SGD 111,000 against loss before tax of SGD 89,000 a year ago. Profit after tax was SGD 74,000 against loss after tax of SGD 191,000 a year ago. Profit attributable to owners of the company was SGD 74,000 against SGD 237,000 a year ago. Revenue was mainly due to the lower sales in CPUs & peripherals products. For the year, the company reported revenue of SGD 139,087,000 against SGD 159,932,000 a year ago. Profit from operations was SGD 932,000 against loss from operations of SGD 185,000 a year ago. Profit before tax was SGD 736,000 against loss before tax of SGD 5129,000 a year ago. Profit after tax was SGD 649,000 against loss after tax of SGD 160,000 a year ago. Profit attributable to owners of the company was SGD 649,000 or $0.12 per basic and diluted share against loss attributable to owners of the company of SGD 237,000 or $0.01 per basic and diluted share a year ago. Net cash flows used in from operating activities was SGD 329,000 against net cash flows generated from operating activities of SGD 3,269,000 a year ago. Purchase of plant and equipment was SGD 296,000 against SGD 140,000 a year ago. Net asset value per share as at December 31, 2012 was 8.24 cent against 8.27 cents as at December 31, 2011. Group Revenues were lowered to $139.1 million is mainly due to the slow down in the sales of the products in most of the regions are operating in, especially in Australia. The company used cash in its operating activities was mainly due to the Group reducing Inventories by $5.6 million. However, this was offset by increases in trade and other receivables by $1 million and decreases in trade and other payables by $3.1 million.