Micro-Mechanics (Holdings)

[Ray168]

ksir,

I'm very optimistic about MM:
#1. c.f. http://infopub.sgx.com/FileOpen/Micro%20...eID=370954
page 2 of last year  FY15 annual report [extract]:

During the year, we completed one of the last phases of our planned S$12 million investment in state-of-the-art equipment

to build a 24/7 Machining facility at the USA factory. 

Although we intend to invest an additional S$0.6 million for equipment in FY2016, 

we have completed most of the difficult and challenging engineering work during the last four years. 

Going forward, our team in the USA is focused on 

developing innovative and cost-effective processes for new parts,

 growing CMA revenue and 

meeting the needs of our customers in the aerospace, semiconductor, medical and laser industries for

 “Perfect Parts, On Time, Every Time” 

based on repeatable, scalable and cost-effective processes.

Re-phase by LC: 

FY15, CMA had completed last phases of work. 

CMA will focus on growing revenue (increase customers)

#2. c.f. http://infopub.sgx.com/FileOpen/MMH-SGXn...eID=401589
Zooming into CMA Q2 vs Q3 result:
page 9: Revenue jump from 1.4m to 2.2m (+50%)
page 10: Capacity Utilisation jump from 23% to 35% (+50%)
page 10: GPM jump from 6.7% to 27.5% (+300%)

Re-phase by LC: MM=Money come, Money come

<vested - 950,500 Yeo Seng Chong>

 Love Compassion

chialc88,

Base on the segment report, the USA always has negative result whereas the assets value has increase over the years. 

CMA profitability still a question mark. Hope that MM bet is correct. 

Note from Executive Management Report FY2015:

"The Group’s subsidiary in the USA, which houses our Custom Machining & Assembly (“CMA”) division, reported a loss of S$1.05 million (including non-cash depreciation expenses of S$1.3 million) in FY2015. The Group also recorded an impairment allowance of S$3.5 million on monies owed by our USA subsidiary to the Company at the end of FY2015. Although this allowance is an internal provision and does not impact the Group’s bottom line, it is nonetheless cause for concern and serves to intensify our focus on improving our USA subsidiary’s performance.