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AAT CORPORATION LIMITED (AAT)

AAT CORPORATION LIMITED (AAT)

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General Information
Company Name: AAT Corporation Limited
Stock Code: AAT
Website: www.autroncorp.com
GICS Sub-Industry: Electronic Equipment & Instruments
Market Cap ($M): 4
Equiv. Shares (M): 288

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.000 $ 0.000 $ 0.000 $ 0.000 n/a 0 0%

Current Broker Consensus Recommendation more
Recommendation: Sell
Recommendation Date: 19th Dec 2008
12 Month Target Price (average): $0
Brokers Surveyed: 1

Company Overview

Business Description:
Autron Corporation Limited (AAT) engaged in servicing, installation, logistical support, design and manufacture of industrial machinery, robotics, automated systems, and assembly of printed integrated circuit boards. The company also manufactures and develops electronic accessories and LED products.

Strategy Analysis:
Autron's strategy is to continue expanding its capabilities in assembly equipment solutions in order to maintain its position as the major solutions provider in Asia. AAT plans to target new, fast-growing markets that don't require extensive investment. In June 2004 AAT commenced a corporate restructure. In a move to improve the competitive performance of the core portfolio and realign strategic business units the company has signed an agreement to dispose of the non-core assets Fine Pulse Sdn Bhd. Growth is targeted organically and through acquisition. AAT has announced the intention to acquire Fuji distributor Smartech Enterprises Company in Hong Kong and China. This acquisition allows Autron to fully leverage on the distribution networks and customer base, hence creating the largest distribution network for the Fuji brand of equipment. As at September 2005 the company was planning to transfer its domicile to Singapore and to delist the company in Australia. Earnings growth will be driven by focusing on customers and pursuing the development of new businesses in the growing East Asian market. Central to the customer focus strategy is the provision of one stop high value-added solutions, underpinned by a full line-up of both proprietary and partner company products.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2009  A -1.4 -0.2 -122.2 0.0 0.0 0.0 --
2008  A 6.5 0.9 -- 7.0 0.0 0.0 --
2007  A -86.2 -12.4 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2007 A 2008 F 2009 F 2007 A 2008 F 2009 F 2007 A 2008 F 2009 F
AAT Corporation (AAT) $4 M -- -- -- -- -- -- 0.0000 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
AAT -- -- 5.65 -- 0.02
Market 1.12 11.1 0.96 2.31 2.55
Sector 1.02 13.0 0.93 1.33 0.24

Directors
Name Position Start Date
Professor Hang Chang Chieh Chairman 15 March 2000
Mr Cheng Leong Tan Chairman 04 November 1998
Mr Eric Lim Kheng Joo Chief Executive Officer 08 March 2005
Mr David Henty Sutton Non-Executive Director 22 February 2012
Mr Anthony Stephen Crimmins Non-Executive Director 16 February 2012
Mr Steven Nicols Non-Executive Director 23 January 2012
Mr Gregory Cornelsen Non-Executive Director 16 February 2012

Management
Name Position
Mourice Reginald Garbutt Company Secretary

Substantial Shareholders
Holding Name
63,471,768 (--%) Tan Cheng Leong
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