AEM Holdings

AEM Holdings: 4Q13 net loss widened to $3.2m from loss of $2.5m in 4Q12, despite revenue growth to $12.4m (+4.4% y/y), on the back of higher equipment sales in Singapore. Meanwhile, staff costs increased 11.2% on higher headcount in its engineering team, new product R&D and new substrates program. Although the semiconductor industry remains very challenging in 2014, the group expects higher sales from purchase orders of $7.2m from its equipment business and a ramp up in volume for moulded interconnect substrates. At $0.077, AEM Holdings trades at 0.53x P/B.