General Announcement::Quarterly update pursuant to Rule 1313(2) of the Listing Manual
September 10, 2021 at 05:42 am EDT
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XMH HOLDINGS LTD.
(Incorporated in Singapore)
(Company Registration No.: 201010562M)
QUARTERLY UPDATE PURSUANT TO RULE 1313(2) OF THE LISTING MANUAL OF SINGAPORE EXCHANGE SECURITIES TRADING LIMITED
XMH Holdings Ltd. (the "Company" and together with its subsidiaries, the "Group") was placed on the watch-list due to Financial Entry Criterion with effect from 4 December 2019 ("Watchlist").
Pursuant to Rule 1313(2) of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST"), the Board of Directors of the Company wishes to provide a quarterly update on the financial results, future direction and other material development that may have a significant impact on the Group's financial position.
Financial Results
Revenue for Q1FY2022 increased by about 21.0% as compared with the corresponding quarter in FY2021. This was mainly due to the following factors:
Increase in Distribution segment revenue due to the delivery of back orders to Indonesia;
Increase in sales to Maldives and sales to new customers;
Increase in after-sales revenue attributable to the increase in sales to existing customers and new customers; and
Increase in Project segment revenue as a result of fulfilment of performance obligation over time.
Future Direction and Other Material Development
Given the uncertainty in the global economy due to the COVID-19 pandemic, the Group continues to review its existing business strategies based on the current market conditions. To mitigate the impact from COVID-19, the Group continues to focus on improving its operational capabilities and cost tightening measures. The Group will stay vigilant for new business opportunities and is taking steps to meet the requirements of Rule 1314(2) of Listing Manual of SGX-ST to exit the Watchlist within 36 months from 4 December 2019 and will update shareholders in due course.
BY ORDER OF THE BOARD
Tan Tin Yeow
Chairman and Managing Director
10 September 2021
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XMH Holdings Ltd. published this content on 10 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 September 2021 09:41:09 UTC.
XMH Holdings Ltd. is a Singapore-based investment holding company. The Company provides diesel engine, propulsion, and power generation solutions to customers in the marine and industrial sectors. Its segments include Distribution, After-sales, and Projects. The Distribution segment relates to the distribution of propulsion engines. The After-sales segment relates to after-sales services provided, which include services/jobs, sales of spare parts, and other trading. The Projects segment relates to the manufacturing, sales and commissioning of power generator sets. Its primary geographical markets include Singapore, Indonesia, Vietnam, and other countries. The Companyâs products include engines, generators, marine gearboxes, propellers, thrusters, IPS, and steering systems. Its brands include Mitsubishi Marine Engine, BUKH, Doosan, Sole Diesel, Hyundai, Akasaka Diesels, XMH Engine, AceGen, Taiyo Electric, D-I, REINTJES, SGP Propeller, Kamome Propeller, Korsor Propeller, and XMH-IPS.
XMH HOLDINGS LTD. 