AEM added S$77m of orders over two months, now has S$192m for 2018 delivery

SINGAPORE - Precision manufacturer AEM Holdings has received S$192 million of sales orders for delivery in 2018 as at April 1, S$77 million more than its last update on Feb 1, the company said on Thursday (April 5) during the market's midday break.

The year-to-date orders on April 1, 2017 had stood at S$148 million for 2017 delivery.

AEM's profit guidance for 2018 remains unchanged for at least S$255 million in sales and S$42 million in operating profit before tax.

The company also announced on Thursday that its largest single shareholder, James Toh, will be appointed as non-executive and non-independent director with immediate effect. Keith Toh Hsiang-Wen, who is unrelated, is resigning to assume the role as partner of investor Novo Tellus Capital Partners.

AEM's stock gained 12.15 per cent, or 65 Singapore cents, to S$6 on Thursday.