The Motley Fool Singapore
AEM Holdings Ltd’s Shares Have Ballooned 19% So Far: What’s Behind the Frenzy?
AEM Holdings Ltd (SGX: AWX) is involved in designing and manufacturing equipment and precision components for the semiconductor, solar and smart card industries. As of the time of writing (12:46 pm), its shares are going at S$3.03 apiece, up 18.8% from Friday’s close of S$2.55. What could have caused the euphoria? Early yesterday morning, the firm announced that it is upgrading its profit guidance for the first nine months and for the full year ending 31 December 2017. The company expects its operating pre-tax profit to be between S$25 million and S$27 million for the nine months, up from the previous guidance of S$17.5 million given during its first-quarter results announcement in April. For the full year of 2017, operating pre-tax profit is projected be at least S$32 million, higher th