Business Turnaround (for FY2006 1H)
- Revenue grew 403.95% to S$40.9 million in 1st half 2006 (first half 2005 S$8.1 million)
Net Profit grew 554.62% to S$5.9 million in 1st half 2006 (first half 2005 S$0.90 million)
Setup of Copper Smelting & Refinery Plant
- On 22 June 2006, the Group announced that its wholly-owned subsidiary, e-HUB Metals Pte Ltd, is investing S$15 million to set up a Copper Smelting & Refinery Plant in Singapore for the smelting and refining of copper recovered from electronic wastes.
Signing of Memorandum Of Understanding (“MOU”) to acquire 100% of Cimelia
- On 6 November 2006, the Group announced that it has entered into a memorandum of understanding (the “MOU”) to acquire the remaining 36.3% shareholdings in Cimelia Resource Recovery Pte. Ltd. (“Cimelia”) not held by the Company.
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Signing of Sale and Purchase Agreement (“S & P Agreement”)
- On 6 December 2006 the Company announced that it had entered into a S & P Agreement with Ms Seow Siew Lan (“Seow”), Mr Mohamed Gani Mohamed Ansari, Mr Venkatesha Murthy, Mr Ong Chee Kang (collectively the “Vendors”) for the acquisition of the remaining 36.3% shareholdings, comprising 2,743,765 ordinary shares in Cimelia Resource Recovery Pte Ltd from the Vendors.