Major Milestones of 2007

Issued 37,000,000 new shares by way of Placement Shares.

Awarded the Global Trader Programme status by International Enterprise Singapore.

Successful implementation of second sandblasting line.

Achieved record profits after tax of S$18.3 million for FY2007 and revenue crossed S$400 million.

Shareholders' Funds doubled to S$115.8 million.

Catering to future expansion by acquisition of additional land in Nusajaya, Johor and leasing Jurong Post Road.

Expanded physical capacity with 3 new warehouses at Jalan Buroh premises.

Successful placement of 37 million new shares to institutional and high networth investors.

Major Milestones of 2006

July 2006
Strengthens its leading position with acquisition of stainless steel specialist, Niho (Singapore ) Pte Ltd. The Consideration of S$1,500,000 was satisfied in cash and was funded by internal resources.

August 2006
Commence operation of sand blasting facility

November 2006
FY2006 full year net profit after income tax of S$13.8 million, almost triple previous year’s S$5.1 million. Board proposed a Special et Dividend of 4 cents per share, and a renounceable rights issue, on the basis of two-for-five.

Major Milestones of 2005

March 2005
Outsourced internal audit function of the Group to ensure adequacy of the overall systems of internal controls within the Group and for better corporate governance.

April 2005
Accepted $10 million convertible loan from OCBC, to be used as working capital.

If converted to shares, OCBC will have an interest in the Group.

Major Milestones of 2004

1. HG Metal Manufacturing Limited was upgraded to the Main Board of the Singapore Exchange in May 2004.
2. The Group registered a stellar performance, with net profit before tax up almost 5 times to S$21 million.
3. 3.Remuneration and nomination committees were set up for better corporate governance and greater transparency.
4. 4.Market capitalisation crossed the $80 million level.  

2003: Started a new production line to produce pipes.

2002: March – Listed on Stock Exchange of Singapore Dealing and Automated Quotation System (SESDAQ).

2000: Acquired manufacturing business under Oriental Metals and started production of mild steel lip channels and flat bars.

1998: Shifted our warehouse to No. 30 Jalan Buroh, the current premises.

1988: Incorporated as Hock Guan Hardware & Engineering Pte Ltd – expanded into a new 100,000sf warehouse at No. 5 Liu Fang Road.

1971: Our Group was founded as a partnership under the name of Hock Guan Hardware & Company – a small retailer of steel products.