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albedo ltd (ALBD) Details

Albedo Limited, an investment holding company, engages in the supply and distribution of industrial and engineering raw materials to the metals industry Singapore and internationally. The company’s Trading and Distribution segment offers raw materials, including steel rolls and ferro alloys; and provides customer services. Its Manufacturing segment provides cast iron and steel rolls, as well as processes and recycles aluminium. The company distributes steel melt shop supplies, such as ferro alloys, carbon raisers/recarburisers, slag forming agents, aluminium products, cored wires, refractory products, measurement solution, copper parts, graphite electrodes, and pig iron; ore and mineral products, including iron, zircon, manganese, chrome, and nickel ores, as well as coking and thermal coal; ferrous and non ferrous scrap; and finished and secondary steel products. Albedo Limited was founded in 1987 and is based in Singapore.

Founded in 1987

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albedo ltd (ALBD) Key Developments

Albedo Limited Reports Unaudited Group Earnings Results for the Half Year Ended June 30, 2014

Albedo Limited reported unaudited group earnings results for the half year ended June 30, 2014. For the period, the company reported revenue of SGD 6,138,000 against SGD 8,109,000 a year ago. Loss for the financial period before taxation was SGD 17,000 against SGD 137,000 a year ago. Total loss for the financial period (net of tax) was SGD 18,000 against SGD 205,000 a year ago. Total loss attributable to equity holders of the company was SGD 18,000 against SGD 137,000 a year ago. Net cash used in operating activities was SGD 1,864,000 against net cash generated from operating activities of SGD 140,000 a year ago. Basic and diluted earnings per share from continuing operations were SGD 0.001 against SGD 0.02 per share a year ago. The decline in 24% of revenue was mainly due to a reduction in aluminum scrap sales as a result of higher export tax.

Albedo Limited Appoints Hor Siew Fu as Chief Financial Officer, Effective May 1, 2014

Albedo Limited announced appointment of Mr. Hor Siew Fu as Chief Financial Officer, effective May 1, 2014. He is responsible for the Group's financial and management accountings, treasury, taxation and other corporate compliance matters.

Albedo Limited, Annual General Meeting, Apr 22, 2014

Albedo Limited, Annual General Meeting, Apr 22, 2014., at 10:00 Singapore Standard Time. Location: Raffles Marina Ltd, 10 Tuas West Drive. Agenda: To receive and adopt the audited financial statements for the financial year ended 31 December 2013 together with the reports of the directors and the auditors of the company; to re-elect Mr. Wong Fook Choy Sunny who is retiring pursuant to Article 90 of the Company's Articles of Association; to approve the payment of Directors' fees of SGD 150,000 for the financial year ending 31 December 2014, to be paid quarterly in arrears; to re-appoint Messrs Foo Kon Tan Grant Thornton LLP for the financial year ending 31 December 2014 as the company's auditors and to authorize the Directors to fix their remuneration; and to transact any other business that may be transacted at an annual general meeting.


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