WE Holdings

WE Holdings: Company requested for a trading halt at 1:34pm, pending release of announcement. Details are not out yet, will update as soon as available. Highlight from an article on Edge magazine over the weekend, that WE Holdings would invest US$20m in a 20% stake in Dragon Cement, and an option to acquire a futher 20% in future. The initial US$20m from WE Holdings will be used to double Dragon Cement's capacity to 800 tonnes daily. On its previous plans to enter the oil & gas sector, mgmt has stated that plans have not been abandoned. The JV formed with Nay Win Tun is still actively looking for exploration opportunities in Myanmar. Recently on 18 May, WE Holdings signed a deal with Serial System to dispose of its electronics business of US$2.06m- 3.3% of FY13 revenues, and close to FY07 earnings before business deteriorated. Serial System also has an option to buy WE Holdings' inventory, which is carried in its books at US$4.8m.