Koh Brothers Eco Engineering

[cyclone]

Contract Win

Koh Brothers Eco Engineering Limited announced that Koh Brothers Building & Civil Engineering Contractor (Pte.) Ltd. ("KBCE"), a wholly owned subsidiary of the Company, has secured a contract from a client through a joint venture of which KBCE has a 20% stake therein.

Including this contract win, the Group’s order book which stood at S$762.7 million as at 31 December 2017 will be lifted to S$954.7 million.

[luckystar]

Contract Win

Koh Brothers Eco Engineering Limited announced that Koh Brothers Building & Civil Engineering Contractor (Pte.) Ltd. ("KBCE"), a wholly owned subsidiary of the Company, has secured a contract from a client through a joint venture of which KBCE has a 20% stake therein.

Including this contract win, the Group’s order book which stood at S$762.7 million as at 31 December 2017 will be lifted to S$954.7 million.

Waiting for details from their JV partner. Would it be Samsung CT?

[cyclone]

Proposed Renounceable Non-Underwritten Rights Cum Warrants Issue

Koh Brothers Eco Engineering Limited is proposing a renounceable non-underwritten rights cum warrants issue of up to 523,317,944 new ordinary shares in the capital of the Company at an issue price of S$0.045 for each Rights Share, with up to 523,317,944 free detachable warrants, each Warrant carrying the right to subscribe for one (1) new ordinary share in the capital of the Company  at an exercise price of S$0.050 for each New Share, on the basis of one (1) Rights Share for every two (2) ordinary shares in the capital of the Company held by Entitled Shareholders as at a books closure date to be determined, fractional entitlements to be disregarded, with one (1) free Warrant for every one (1) Rights Share validly subscribed by the Entitled Shareholders.

As at the date of this Announcement, the Company has an issued and paid-up share capital of S$51,938,918.51 comprising 1,046,635,889 Shares. There is an aggregate of 298,961,682 outstanding warrants issued by the Company on 14 November 2017 which may be exercised on or prior to the Books Closure Date. In the  event that all of the Existing Warrants are exercised, the issued share capital of the Company will increase to 1,345,597,571 Shares (the "Enlarged Share Capital"). Purely for illustrative purposes, based on the Enlarged Share Capital, the number of Rights Shares and Warrants proposed to be issued under the Proposed Rights cum Warrants Issue will be 672,798,785 and 672,798,785 respectively.

The Issue Price is proposed to be S$0.045 per Rights Share. The Issue Price represents a discount of approximately:-
(a) 34.8% to the last transacted price of S$0.069 per Share on the Catalist board of the SGX-ST on 28 June 2018, being the last full trading day of the Shares immediately preceding this Announcement; and
(b) 26.2% to the theoretical ex-rights price of S$0.061 per Share

More details in http://infopub.sgx.com/FileOpen/KBE%20-%...eID=512581

[weijian]

IIRC, a FC is not really a niche profession (like that of a brain surgeon or litigation lawyer). A FC will need an accounting degree and experience in audit/account fields of work. I have a FC friend (abeit in the local unlisted subsidiary of a MNC) who doesn't even have a CFA.

So in conclusion, Koh Bro Eco's (ex) FC Chua must be one of those generational talents, where the Mgt spent so much time (9 months) trying to convince him to stay at the company. And he is that hard to replace, because there has been no suitable replacement in that time.

REPLY TO SGX QUERIES

It was disclosed in the Cessation Announcement that Mr Chua’s effective date of cessation is 15 October 2024. Why was the announcement only released on 22 Jan 2025 when Mr Chua had ceased to be the Financial Controller since 15 Oct 2024?

After Mr. Chua expressed his intention on 15 April 2024 to step down in order to pursue other interests, the Company was engaged in discussions with Mr. Chua regarding his resignation, to (amongst others) explore alternative work arrangements including for him to perform his function on a part-time basis.

The Company accepts that the non-disclosure of Mr. Chua’s cessation earlier was an inadvertent oversight on its part and had happened because the Company was engaged in discussions with Mr. Chua to explore alternative work arrangements and/or to continue as the Financial Controller of the Company on a contractual basis post-15 October 2024.

Despite several interviews with potential candidates thus far, the Company continues to search for a suitable replacement for the position of Financial Controller.

https://links.sgx.com/FileOpen/KBE-Reply...eID=831426