WE Holdings

WE Holdings: WE Holdings entered a non-exclusive distributor agreement with Samsung Electro-Mechanics (Singapore) to purchase and distribute high-tech components of electronics and mechanical products for electrical devices in the Southeast Asia region. With the new distributorship, WE Holdings has been assigned to be a supplier for a few key customers of Samsung Group's electronic components manufacturer, which will allow the group to leverage on its products from a confirmed customer base. Meanwhile, WE Holdings terminated its proposed acquisition with Europtronics following the uncertainty of being able to fulfil the conditions of the agreement. Following that, the group entered into a service agreement with Europtronics, where Europtronics will continue to supply electronic components to customers of WE Holdings in Singapore and Thailand, which will lapse when the new customers have created a vendor code with WE Holdings. The interim arrangement is with the new customers acquired by WE Holdings following its distributorship agreement with Samsung Electro-Mechanics. At a NAV of US1.5¢, WE Holdings trades at 1.7x P/B.