This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Asia Pacific Wire And Cable Corporation Secures Three New SDI Contracts In Singapore Totalling $64.0 Million USD

APWC's Thai Subsidy Records FY2012 223% Net Income Growth

Stock Elevated to NASDAQ Global Market Effective February 15, 2013

TAIPEI, Taiwan, March 18, 2013 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (Nasdaq:APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced that its Singapore-based, operating subsidiary, Sigma Cable Company, has been awarded in 2012 three new government contracts with a total contract value of approximately $62 million over a two year period. The Company has also announced it has met the requirements for listing on NASDAQ's Global Markets and has been trading on the elevated level of NASDAQ since February 15, 2013.

The three new contracts received from the Singapore government relate to Supply, Delivery and Installation (SDI) of low and mid voltage power cables. Sigma Cable, Asia Pacific Wire Company's Singapore subsidiary has begun work on these implementations which are expected to be completed between now and 2014.

Adding to Asia Pacific Wire's growth is the Company's 50.93%-owned and SET-listed Thai subsidy, Charoong Thai Wire and Cable (SET Ticker Symbol: CTW). CTW reported a gross margin improvement of 8.6% for the period ended December 31, 2012 and a 223% improvement in net income resulting from better operational efficiencies. As reported in 2011, Asia Pacific's Thai-subsidy recorded $186.0 million in sales, and accounted 39.4% of APWC revenues. Asia Pacific Wire Company will consolidate its majority ownership position of CTW financial results in the Company's year end 2012, 20-F filing expected to be filed in April of this year.

Separately, NASDAQ notified the Company that effective February 15, 2013, APWC's stock began trading on the NASDAQ Global Markets platform. The migration from NASDAQ's Capital Markets platform to its Global Markets platform is a function of APWC meeting NASDAQ's requirements for the migration, which includes liquidity requirements, operating history and a diversified shareholder list. There is no impact on existing shareholders from this change in trading platforms.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs