- A-Sonic is providing supply chain management services to global locations, including the US, Asia and Europe. The company specialises in a range of logistics solutions. It provides international and domestic multi-modal transportation, warehousing, distribution, customs clearance and airport ground services.
- PATMI has been stable the past five years despite continued disruption in global supply chains. 2H25 earnings grew 16.5% YoY to US$2.6mn from expanding margins from more customised projects and direct-to-customer solutions. The growth in semiconductor exports will be a key driver in FY26, driven by Malaysia and Singapore customers.
- With a net cash of US$46mn, the share price is trading at a 14% discount to net cash and 22% discount to book value. The company has been consistently buying back shares to close the discount to book value. There was 2.6mn shares purchased in FY25. The most aggressive on record. The highest price purchased was S$0.535. We believe the cash hoard provides the company with an avenue for inorganic growth.
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