Willas-Array Electronics

Willas-Array Electronics: Company intends to seek dual-listing on the HK stock exchange; Mgmt believes that a listing in Hong Kong is in line with the Company’s focus on its operations in the PRC, which is important for the Company’s growth and long-term development. Recall on 19 Nov 2012, the Group further strengthened its distribution business in China & Hong Kong, forming a JV with Taiwan-based G.M.I Technology, the JV being the authorized distributor of Toshiba Semiconductor. Willas-Array Electronics, is principally engaged in the distribution of active and passive components for use in the industrial, audio and video, telecommunications, home appliance, lighting, EMS, automotive, and dealer segments. Group carries a wide product mix, distributing and marketing in excess of 10,000 product items which cater to over 2,000 active customers. Its main markets are in Mainland China and Hong Kong. Over the years, the Group’s business has evolved to focus strongly on the Chinese market where it has become a familiar and established brand name. Willas trades at 9.4x trailing P/E, has an estimated 2013 EPS growth of 8.3%.