Hello
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
PART I - INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2 & Q3), HALF -YEAR AND FULL YEAR ANNOUNCEMENTS
1(a)
Consolidated Income Statement and Statement of Comprehensive Income
Six Months Ended
30 Jun 2015 30 Jun 2014 Inc/(Dec)
S$' 000 S$' 000 %
Revenue (Note 1) 77,271 62,519 2 4
Cost of Sales ( 72,388) ( 57,100) 27
Gross profit 4 ,883 5 ,419 (10)
Other items of income
Interest income 1 15 1 11,400
Other income (Note 2) 3 39 2 36 4 4
Other items of expense
Marketing and distribution ( 229) (106) 116
Administrative expenses ( 3,832) ( 3,813) 0
Finance costs ( 144) (27) 433
Other expenses (Note 3) ( 973) ( 901) 8
Share of results of an associate 5 ,660 - N.M.
Profit before tax 5 ,819 809 619
Income tax expense ( 609) (40) 1,423
Profit, net of tax 5 ,210 769 578
Attributable to:
Owners of the Company 5 ,186 782 563
Non-controlling interests 2 4 (13) N.M.
Profit for the period 5 ,210 769 578
Other comprehensive income:
Items that may be reclassified subsequently to profit or loss
Share of an associate' s other comprehensive income 1 66 - N.M.
Foreign currency translation 1 44 (74) N.M.
Other comprehensive income for the period, net of tax 3 10 (74) N.M.
Total comprehensive income for the period 5 ,520 695 694
Attributable to:
Owners of the Company 5 ,496 708 676
Non-controlling interests 2 4 (13) N.M.
Total comprehensive income for the period 5 ,520 695 694
An income statement and statement of comprehensive income, or a statement of comprehensive income, for the group, together
with a comparative statement for the corresponding period of the immediately preceding financial year.
Group
1
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
30 Jun 2015 30 Jun 2014 Inc/(Dec)
Note 1 - Revenue S$' 000 S$' 000 %
Distribution sale of mobile handsets & accessories 44,021 2 9,487 4 9
Retail sale of mobile handsets & other apparatus 21,151 1 6,758 2 6
Retail sale of computer hardware & accessories and computer software 12,085 1 6,256 ( 26)
Other revenue 14 18 (22)
77,271 6 2,519 24
30 Jun 2015 30 Jun 2014 Inc/(Dec)
Note 2 - Other income S$' 000 S$' 000 %
Net gain on liquidation of a subsidiary - 5 N.M.
Rental income 68 60 1 3
Other miscellaneous income* 271 171 5 8
339 236 44
* Other miscellaneous income comprises of Productivity Innovation Credit bonus pay-out, Wage Credit Scheme pay-out
and Core Executive Programme pay-out by the Inland Revenue Authority of Singapore.
30 Jun 2015 30 Jun 2014 Inc/(Dec)
Note 3 - Other expenses S$' 000 S$' 000 %
Amortisation of intangible assets ( 159) (159) -
Bank charges ( 187) (227) (18)
Depreciation of property, plant and equipment ( 323) ( 267) 21
Depreciation of investment property ( 45) ( 12) 275
Net loss on disposal of property, plant and equipment ( 86) (65) 3 2
Net foreign exchange loss ( 169) (162) 4
Inventories written-down (4) (9) (56)
( 973) (901) 8
N.M. denotes Not Meaningful
Six Months Ended
Six Months Ended
Six Months Ended
2
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
1(b)(i)
Consolidated Balance Sheets
Group Company
30 Jun 2015 31 Dec 2014 30 Jun 2015 31 Dec 2014
S$' 000 S$' 000 S$' 000 S$' 000
ASSETS
Non-current assets
Property, plant and equipment 6,495 6,853 6 ,091 6,296
Investment properties 2,548 2,593 2 ,548 2,593
Intangible assets 1,445 1,605 - -
Investment in subsidiaries - - 10,352 8 ,512
Investment in associates 3 24,294 318,467 313,267 313,267
Investment securities 600 600 - -
Other receivables 6,542 4,032 5 ,720 6,020
3 41,924 334,150 337,978 336,688
Current assets
Trade and other receivables 16,305 21,167 602 3 ,375
Inventories 9,406 3,754 - -
Prepaid operating expenses 759 226 5 65 92
Cash and cash equivalents 2,736 3,173 139 252
29,206 28,320 1,306 3,719
Total assets 3 71,130 362,470 339,284 340,407
EQUITY AND LIABILITIES
Current liabilities
Loans and borrowings (Note 4 ) 4,116 7,267 260 273
Trade and other payables 13,042 8 ,687 2 ,319 1,153
Deferred revenue 143 657 - -
Other liabilities 718 792 4 56 555
Income tax payable 9 2 79 - -
18,111 17,482 3,035 1,981
Net current assets/ (liabilities) 11,095 10,838 (1,729) 1,738
Non-current liabilities
Loans and borrowings (Note 4 ) 5,758 5,881 5 ,758 5,881
Deferred tax liabilities 1,000 4 34 - -
Other payables 7 6 66 - 2,200
6,834 6,381 5 ,758 8,081
Total liabilities 24,945 23,863 8,793 1 0,062
Net assets 3 46,185 338,607 330,491 330,345
Equity attributable to members
Share capital 4 02,747 402,747 402,747 402,747
Retained losses ( 60,335) (65,521) ( 72,256) (72,402)
Other reserve 391 451 - -
Foreign currency translation reserve 9 30 560 - -
3 43,733 338,237 330,491 330,345
Non-controlling interests 2,452 3 70 - -
Total equity 3 46,185 338,607 330,491 330,345
Total equity and liabilities 3 71,130 362,470 339,284 340,407
A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately
preceding financial year.
3
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
1(b)(ii) Aggregate amount of group' s borrowings and debt securities.
As at 30 Jun 2015 As at 31 Dec 2014
Secured Unsecured Secured Unsecured
Note 4 - Loans and borrowings S$' 000 S$' 000 S$' 000 S$' 000
Current:
Other borrowings - - - 2,033
Bank borrowing 3,856 4,961
Commercial property loans 260 - 273 -
Amount repayable in one year or less, or on demand 4,116 - 5,234 2,033
Non-current:
Other borrowings - - - -
Commercial property loan 5,758 5,881
Amount repayable after one year 5,758 - 5,881 -
9,874 - 11,115 2,033
1(c)
Consolidated Cash Flow Statement
Six Months Ended
30 Jun 2015 30 Jun 2014
S$' 000 S$' 000
OPERATING ACTIVITIES
Profit before tax 5 ,819 809
Adjustments for :
Amortisation of intangible assets 1 59 1 59
Depreciation of property, plant and equipment 3 23 2 67
Depreciation of investment properties 4 5 1 2
Finance costs 3 39 27
Interest income ( 115) (1)
Inventories written-down 4 9
Net gain on liquidation of a subsidiary - (5)
Net loss on disposal of property, plant and equipment 86 6 5
Share of result of associate ( 5,660) -
Total adjustments ( 4,819) 533
Operating cash flows before changes in working capital 1 ,000 1 ,342
Changes in working capital
(Increase)/ Decrease in:
Inventories ( 5,656) (826)
Trade and other receivables 2 ,466 5 ,393
Prepaid operating expenses ( 533) ( 222)
(Decrease)/ Increase in:
Trade and other payables 3 ,862 (1,093)
Other liabilities ( 74) (106)
Total changes in working capital 6 5 3,146
Cash flows from operations 1 ,065 4 ,488
Interest received - 1
Interest paid ( 339) (27)
Income taxes paid ( 30) ( 11)
A statement of cash flows (for the group), together with a comparative statement for the corresponding period of the immediately
preceding financial year.
4
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
Net cash flows from operating activities 6 96 4,451
INVESTING ACTIVITIES
Purchase of property, plant and equipment ( 61) -
Purchase of investment property - (2,819)
Net cash flows used in investing activities ( 61) (2,819)
FINANCING ACTIVITIES
Proceeds from loans and borrowings 16,634 2,082
Repayment of loans and borrowings ( 17,981) (82)
Net cash flows (used in)/ from financing activities ( 1,347) 2,000
Net (decrease)/ increase in cash and cash equivalents (712) 3 ,632
Effect of exchange rate changes on cash and cash equivalents 2 75 (105)
Cash and cash equivalents at 1 January 3 ,173 5 ,686
Cash and cash equivalents at 30 June 2 ,736 9 ,213
5
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
1(d)(i)
Statements of Change in Equity :
2015 Group Equity, total Share capital
Retained
losses Other Reserve
Foreign
currency
translation
reserve
Non-controlling
interests
S$' 000 S$' 000 S$' 000 S$' 000 S$' 000 S$' 000
Opening balance at 1 January 2015 3 38,607 4 02,747 ( 65,521) 451 560 370
Profit for the period 5,210 - 5,186 - - 24
Other comprehensive income
Share of associates - other
comprehensive income 166 - - ( 60) 226 -
Foreign currency translation 144 - - - 144 -
Other comprehensive income for the
period, net of tax 310 - - ( 60) 370 -
Total comprehensive income for the
period 5,520 - 5,186 (60) 370 24
Changes in ownership interests in
subsidiaries
Issuance of shares by subsidiaries to
non-controlling shareholders 2,058 - - - - 2,058
Total changes in ownership interests
in subsidiaries 2,058 - - - - 2,058
Total transactions with owners in
their capacity as owners 2,058 - - - - 2,058
Closing balance at 30 June 2015 3 46,185 4 02,747 ( 60,335) 391 930 2,452
A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from
capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the
immediately preceding financial year.
6
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
2014 Group Equity, total Share capital
Retained
losses Other Reserve
Foreign
currency
translation
reserve
Non-controlling
interests
S$' 000 S$' 000 S$' 000 S$' 000 S$' 000 S$' 000
Opening balance at 1 January 2014 2 0,534 8 9,769 (69,690) - 425 30
Profit/ (loss) for the period 769 - 7 82 - - (13)
Other comprehensive income
Foreign currency translation ( 74) - - - (74) -
Other comprehensive income for the
period, net of tax (74) - - - (74) -
Total comprehensive income for the
period 695 - 7 82 - (74) (13)
Closing balance at 30 June 2014 2 1,229 8 9,769 (68,908) - 351 17
Profit for the period 3,740 - 3,387 - - 353
Other comprehensive income
Share of associates - other
comprehensive income 625 4 51 174
Foreign currency translation 3 5 - - - 35 -
Other comprehensive income for the
period, net of tax 660 - - 451 209 -
Total comprehensive income for the
period 4,400 - 3,387 451 209 353
Contributions by and distributions to
owners
Share issued for acquisition of an associate 313,268 3 13,268 - - - -
Share issuance expense ( 290) ( 290)
Total contributions by and
distributions to owners 312,978 3 12,978 - - - -
Total transactions with owners in
their capacity as owners 312,978 3 12,978 - - - -
Closing balance at 31 December 2014 338,607 4 02,747 ( 65,521) 451 560 370
7
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
2015 Company Equity, total
Share
capital Retained losses
S$' 000 S$' 000 S$' 000
Opening balance at 1 January 2015 3 30,345 402,747 (72,402)
Profit for the period, representing total comprehensive income for the period 1 46 - 146
Closing balance at 30 June 2015 3 30,491 402,747 (72,256)
2014 Company Equity, total
Share
capital Retained losses
S$' 000 S$' 000 S$' 000
Opening balance at 1 January 2014 1 7,939 89,769 (71,830)
Loss for the period, representing total comprehensive income for the period ( 36) - (36)
Closing balance at 30 June 2014 1 7,903 89,769 (71,866)
Loss for the period, representing total comprehensive income for the period ( 536) - (536)
Contributions by and distributions to owners
Shares issued for acquisition of an associate 3 13,268 313,268 -
Share issuance expense ( 290) (290) -
Total transactions with owners in their capacity as owners 3 12,978 312,978 -
Closing balance at 31 December 2014 3 30,345 402,747 (72,402)
1(d)(ii)
Changes in Company' s Share Capital :
The Company held no treasury shares at the beginning and end of the financial period reported.
Company
30 Jun 2015 31 Dec 2014
Number of
shares
Number of
shares
' 000 S$' 000 ' 000 S$' 000
At 1 January (excluding treasury shares) 17,053,170 402,747 3,432,846 89,769
Pursuant to share placement - - - -
At 30 June 17,053,170 402,747 3,432,846 89,769
Share issued for acquisition of an associate - - 13,620,324 313,268
Share issuance expense - - - (290)
At 31 December 17,053,170 402,747 17,053,170 402,747
1(d)(iii)
Please refer to 1(d)(ii)
To show the total number of issued shares excluding treasury shares as at the end of the current financial period and as at the end
of the immediately preceding year.
Details of any changes in the company' s share capital arising from rights issue, bonus issue, share buy-backs, or as consideration
for acquisition or for any other purpose since the end of the previous period reported on. State also the number of shares that may
be issued on conversion of all the outstanding convertibles, as well as the number of shares held as treasury shares, if any, against
the total number of issued shares excluding treasury shares of the issuer, as at the end of the current financial period reported on
and as at the end of the corresponding period of the immediately preceding financial year.
8
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
1(d) (iv)
Not applicable, as the Company held no treasury shares at the beginning and end of the financial period reported.
2. Whether the figures have been audited or reviewed, and in accordance with which auditing standard or practice.
The financial statements presented above have not been audited or reviewed by the Company' s auditors.
3. Where the figures have been audited or reviewed, the auditors' report (including any qualifications or emphasis of a matter).
Not Applicable.
4.
5.
6.
Six Months Ended
30 Jun 2015 30 Jun 2014
S$' 000 S$' 000
5,186 782
No. of shares No. of shares
' 000 ' 000
17,053,170 3,432,846
Basic 0.030 0.023
Diluted 0.030 0.023
The basic earnings per share is calculated by dividing the profit for the period attributable to owners of the Company by the weighted average
number of ordinary shares outstanding during the financial period.
The diluted earnings per share is calculated on the same basis as basic earnings per share except that the denominator is adjusted to include
any dilutive potential ordinary shares deemed exercised at the beginning of each financial period.
Profit for the period attributable to owners of the Company used in the
computation of basic earnings per share
Weighted average number of ordinary shares for basic earnings per share
computation
Earnings per share attributable to owners of the Company (cents per
share)
The adoption of new / revised FRS and INT FRS does not result in changes to the Group' s and the Company' s accounting policies and has
no material effect on the amounts reported for the current or prior period.
A statement showing all sales, transfers, disposal, cancellation and/or use of treasury shares as at the end of the current financial
period reported on.
Whether the same accounting policies and methods of computation as in the issuer' s most recently audited annual financial
statements have been applied.
The Group has applied the same accounting policies and methods of computation in the preparation of the financial statements for the
current reporting period compared with those used in the audited financial statements for the financial year ended 31 December 2014, except
for the adoption of the revised financial reporting standard (" FRS" ) and interpretations to FRS (" INT FRS" ) that are effective for annual periods
beginning on or after 1 January 2015.
The Group has adopted all the new and revised Singapore Financial Reporting Standards (" FRS" ) for accounting periods beginning 1 January
2015, where applicable.
If there are any changes in the accounting policies and methods of computation, including any required by an accounting standard,
what has changed, as well as the reasons for, and the effect of, the change.
Earnings per ordinary share of the group for the current financial period reported on and the corresponding period of the
immediately preceding financial year, after deducting any provision for preference dividends.
9
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
7.
(a) current financial period reported on and
(b) immediately preceding financial year.
Group Company
30 Jun 2015 31 Dec 2014 30 Jun 2015 31 Dec 2014
2.03 1.99 1.94 1 .94
8.
(a) Turnover, costs and earnings
(b) Cash flow, working capital, assets or liabilities
9.
There was no forecast or prospect statement disclosed by the Group to Shareholders previously.
10.
For the first half of the year 2015 (" 1HY2015" ), the Group' s revenue increased by 24% from S$62.519 million as at 30 June 2014 to
approximately S$77.271 million. Despite the slowdown in the Group' s retail consumer electronics business, revenue from handset distribution
and retail telecommunications business for 1HY2015 increased by 49% from approximately S$29.487 million to approximately S$44.021
million and 26% from approximately S$16.758 million to approximately S$21.151 million, respectively, compared to the same period under
review in 2014.
As a result of the Group' s continuing effort to expand its business into other regions in Asia, the Group suffered foreign exchange losses and
incurred higher marketing and distribution expenses as well as interest expenses due to higher working capital needs associated with
operating in overseas markets. The Group closed at profit before tax of approximately S$5.819 million, of which approximately S$5.660
million related to the share of results of an associate.
Inventories and Trade and other payables increased significantly compared to those for the preceding financial year due to higher inventory
holding and longer credit terms for trade payables. Despite this increase, the Group still has a net cash inflow of approximately S$1.065
million from operations. A net cash flow used in investing activities of approximately S$0.061 million was due to the purchases of property,
plant and equipment. From financing activities, the Group has a net cash outflow of approximately S$1.347 million due to repayment of bank
loans. As at 30 June 2015, the Group&rsquo s cash balance stood at $2.736 million.
Notwithstanding the above, the Group will continue to strengthen its regional retail and distribution footprint, to pursue strategic investment
and joint ventures in emerging Asian markets, to develop e-commerce capabilities and to pursue new brand portfolio expansion as and when
the appropriate opportunities arise.
(b) any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial
period reported on.
A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the
group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months.
The tighter competition in the industry continues to be the key challenge for the Group to remain in its ability to achieve sustainable
profitability for its handset distribution and retail businesses in a matured and saturated market. Retail rental costs and manpower costs
remained as a key challenge to the bottom line. In the event both costings&rsquo growth are not in line with the increment of the margin and growth
of revenue, the bottom line would be at a negative level. The thin margin may have an adverse impact on the overall performance of the
Group, particularly for the handset distribution business.
Net asset value (for the issuer and group) per ordinary share based on the total number of issued shares excluding treasury shares
of the issuer at the end of the:-
Indonesia, being the regional country that contributes most to the Group' s profitability among all other regions where the Group operates, has
been experiencing tremendous challenge due to external factors and the volatile macro exchange rate which has been depreciating against
US dollars by 37% since 2011 and this is foreseen to be further weakening towards the second half of the year. The economic circumstances
in Indonesia may also impact on the Group&rsquo s financial performance.
Net asset value per ordinary share is calculated based on
17,053,169,818 (31.12.2014: 17,053,169,818) ordinary
shares in issue at the end of the period under review and
of the immediate preceding financial year (S$ cents per
share)
A review of the performance of the group, to the extent necessary for a reasonable understanding of the group' s business. It must
include a discussion of the following:-
(a) any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on,
including (where applicable) seasonal or cyclical factors and
Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual
results.
10
POLARIS LTD.
(Company Registration No. : 198404341D)
Incorporated in the Republic of Singapore
UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2015
11. Dividend
(a) Current financial period reported on
Any dividend declared for the current financial period reported on?
None.
(b) Corresponding period of the immediately preceding financial year
Any dividend declared for the corresponding period of the immediately preceding financial year?
None.
(c) Date payable
Not applicable.
Not applicable.
12. If no dividend has been declared (recommended), a statement to that effect.
No dividend has been declared or recommended for the period under review.
13.
No IPT mandate has been obtained for the period under review.
14. Status on the use of proceeds raised from IPO and any offerings pursuant to Chapter 8.
No proceeds raised from IPO and any offerings for the period under review.
15. Negative confirmation pursuant to Rule 705(5). (Not required for announcement on full year results)
BY ORDER OF THE BOARD
JULIANA JULIANTI SAMUDRO ANG CHUAN HUI, PETER
DIRECTOR/ CHIEF FINANCIAL OFFICER DIRECTOR/ CHIEF EXECUTIVE OFFICER
Date: 5 AUGUST 2015 Date: 5 AUGUST 2015
The contact person for the Sponsor is Mr. Yap Wai Ming:
Tel: 6389 3000
Email: waiming.yap@stamfordlaw.com.sg
This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of
this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
If the group has obtained a general mandate from shareholders for IPTs, the aggregate value of such transactions as required
under Rule 920(1)(a)(ii). If no IPT mandate has been obtained, a statement to that effect.
This announcement has been prepared by the Company and its contents have been reviewed by the Company&rsquo s sponsor, Stamford Corporate
Services Pte. Ltd. (the " Sponsor " ), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the " SGX-ST " )
Listing Manual Section B : Rules of Catalist. The Sponsor has not independently verified the contents of this announcement.
The Board of Directors hereby confirm that to the best of our knowledge, nothing material has come to the attention of the Board which may
render the interim financial results set out above to be false or misleading in any material aspect.
(d) Books closure date
11
No luck today. Still peg at 20cents. Still have faith with it.
ntegrator alr in top vol. this one may also come into top vol later? give it some time
Get ready? Once it move, it will move very fast. 
Less than 10% public floating shares, should be easily being push up.
No much response yet? Hmm...
| Substantial Shareholders | Number of shares held | Percent of shares held |
| Sugialam, Sugiono Wiyono | 8,258,930,504 | 48.43% |
| Standard Chartered Private Equity Limited | 4,406,850,233 | 25.84% |
| PT SL Trio | 2,536,262,522 | 14.87% |
| OCBC Securities Private Limited, Securities Arm | 72,625,810 | 0.43% |
| Ong, Kok Wah | 70,000,000 | 0.41% |
2013 May
The Company started trading on the Singapore Exchange under the new name of Polaris Ltd. on
3 May 2013.
On 30 May, 2013 Polaris Network announced the acquisition of Juzz1 Holdings (Singapore) Pte Ltd including the licences of 7 retail shops located in retail malls.
2013 April
On 1 April 2013, Polaris Telecom Pte. Ltd. entered into a distributor agreement with Singapore Telecommunications Limited, Singtel Mobile Singapore Pte. Ltd., SingNet Pte. Ltd. and Telecom Equipment Pte. Ltd. (collectively, the &ldquo Singtel Group Companies&rdquo ) to carry out sales, marketing and promotional activities in Singapore in order to promote and sell the telecommunications and broadcasting services provided by the Singtel Group Companies.
The Company was renamed from CarrierNet Global Ltd. to Polaris Ltd. on 30 April 2013.
2013 February
The Company incorporated a wholly owned subsidiary in Singapore called Polaris Telecom Pte. Ltd. to penetrate the telecommunications retail business.
2012 November
Polaris Network Pte. Ltd. entered into a master distributorship agreement with M1 Limited (&ldquo M1&rdquo ) and M1 Net Ltd. (&ldquo M1 Net&rdquo ) to promote, distribute and sell prepaid and postpaid services offered by M1 and M1 Net for mobile and fixed line platforms.
2012 September
The Company went through a restructuring exercise to refocus its resources and strategic direction in order to achieve a stronger position for growth within the competitive telecommunications industry.
- The Company disposed of its Uni 3 Pte. Ltd. and CarrierNet Corporation (Singapore) Pte. Ltd. subsidiaries.
- The Company incorporated a wholly owned subsidiary called Polaris Network Pte. Ltd. to penetrate the telecommunications retail business in Singapore.
- The Company renamed its Uni 3 Devices Pte. Ltd. subsidiary as Polaris Device Pte. Ltd.
- The Company and Koko Capital Ventures Ltd. established a 70%:30% joint venture known as Polaris KKC Holdings Pte. Ltd. as an investment holding company. Via a separate transaction, Polaris KKC and Asiatic Mart Holding Pte. Ltd. incorporated a 67%:33% joint venture known as CM Polaris Pte. Ltd.
2011 July
The Company established a new business unit, Uni 3 Devices Pte. Ltd., to penetrate the mobile phone trading business and address the growing market opportunities in ASEAN countries.
2010 March
As part of a major restructuring exercise, ownership of CarrierNet Corporation (Singapore) Pte. Ltd. &ndash which was previously wholly owned by CarrierNet Corporation Limited (CCL), which in turn was a wholly owned subsidiary of CarrierNet Global Ltd. &ndash was transferred to the Company. The Company then sold CCL and a CCL subsidiary named Memphis Telecom Pte. Ltd. to Toprich Venture Limited. This disposal was completed on 2 March 2010.
2008 September
The Company was renamed CarrierNet Global Ltd. to reflect its focus on the telecommunications industry with VOIP telephony operations and distribution in Hong Kong, Australia and Singapore. The Company started trading on the Singapore Exchange under this new name on 15 September 2008.
2004 August
The Company was renamed ArianeCorp Limited and started trading on the Singapore Exchange under the new name on 18 August 2004. As ArianeCorp Limited, the Company acquired an integrated 11,119 km two-core high bandwidth fibre optic network covering 13 provinces and all major cities in Eastern China.
1993 September
Vikay Industrial Limited was listed on the Singapore Exchange on 9 September 1993. The initial public offering received an overwhelming response and was 68 times oversubscribed.
1984 December
Vikay Industrial Pte Ltd, from which Polaris Ltd. has evolved, was incorporated in Singapore. At the time, the Company&rsquo s core business was to manufacture and market liquid crystal displays and other electronic products under the Vikay brand.
Who with me for another ride of profit for this counter.
Please not for contra player!
Remember StratechGroup which i open just a few month ago to buy at 0.019 in April 2015.
You just need some holding power for a few months for it to rise.
Study what the company doing, who is holding the share. Reading the figure maynot help much because it' s history report.
Human must look ahead and do some projection.
You earn profit for s-chip in short term, you will also easily loose back due to greed! lol
Long term investment will really earn you $$$
see can fly not
Cool, good luck to you(and myself). Yee Harr!
Stored 1000 lots + at price range 0.20-0.21 recently.Hope this one shine. Will keep it till year end.
Stored 1000 lots + at price range 0.20-0.21 recently.
Hope this one shine. Will keep it till year end.
Will this share shine with s-chip? After all still penny share. Maybe they start to invest in china as well?
See some volume pick up!
