This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: APWC

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs