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New Straits Times
30-06-2025
- Business
- New Straits Times
UMS releases prospectus for Bursa secondary listing
KUALA LUMPUR: Precision engineering company UMS Integration Ltd (UMS) has issued its prospectus for a secondary listing on the Main Market of Bursa Malaysia by way of introduction. UMS is currently listed on the Mainboard of the Singapore Exchange (SGX) with a market capitalisation of approximately S$970 million (equivalent to about RM3.2 billion). The company said the secondary listing will be undertaken by way of introduction and will not involve any issuance or offering of shares. UMS shares will be fully fungible, where shareholders will be able to transfer their shares between the Mainboard of SGX and the Main Market of Bursa Securities for trading. Following the issuance of the prospectus, UMS is scheduled to be listed on the Main Market of Bursa Securities on Aug 1, 2025. UMS chief executive officer Luong Andy said the company's secondary listing marks a strategic milestone in its corporate journey, making it the first Singapore public company to secure a secondary listing on the Main Market of Bursa Securities. He said having evaluated several potential listing venues, the company has concluded that Bursa Securities is the most strategic platform to broaden its investor base, potentially improve liquidity through separate trading platforms, and provide flexibility to access different equity markets to raise funds in the future. "This also enhances our visibility across Southeast Asia, which aligns with our key operational presence in Penang that has an aggregate built-up area of about 689,870 square feet (sqft). "We believe our secondary listing on Bursa Securities will enhance our position as an integrated comprehensive service provider for global chip companies and support our long-term growth ambitions," he said in a statement. Headquartered in Singapore, UMS, through its subsidiaries, is an integrated high-precision engineering and manufacturing solutions provider, offering complex precision machining, sheet metal fabrication, and surface treatment, as well as sub-module and full-module assembly services, with a focus on serving high-tech industries such as semiconductor and aerospace. UMS' clientele includes Fortune 500 companies as well as multinational companies listed on, among others, the New York Stock Exchange, Nasdaq, SGX and Euronext Paris. Looking ahead, Luong said UMS will continue to expand its role across the semiconductor and aerospace value chains. "In particular, within the semiconductor space, we see exciting opportunities in manufacturing high-precision components used in advanced packaging solutions, which play a vital role in enabling next-generation artificial intelligence and high-performance computing applications," he noted. For the financial year ended Dec 31, 2024 (FY24), UMS posted revenue of S$242.1 million and a profit after tax of S$40.6 million, with a margin of 16.8 per cent. It has maintained positive net operating cash flow for at least 10 years and had net cash of S$0.11 per share as of end-2024. UMS pays dividends quarterly and offered a yield of about four per cent for 2024, based on a total payout of S$0.052 and its current share price in Singapore.
India Gazette
27-05-2025
- Politics
- India Gazette
Secretary (East) P Kumaran signs condolence book, pays tribute to former Vietnamese President Tran Duc Luong
New Delhi [India], May 27 (ANI): Secretary (East) P Kumaran signed the book of condolences at the Embassy of Vietnam in New Delhi, paying tribute to Tran Duc Luong, former State President of Vietnam. Sharing a post on X, the Ministry of External Affairs spokesperson Randhir Jaiswal said, 'Secretary (East) P. Kumaran signed the book of condolences at the Embassy of Vietnam in New Delhi on the passing of H.E. Tran Duc Luong, former State President of Vietnam. India warmly remembers late President Tran Duc Luong's contribution to strengthening India-Vietnam friendship.' Meanwhile, Singapore President Tharman Shanmugaratnam has written to President Luong Cuong of Vietnam, and Senior Singaporean Minister Lee Hsien Loong has sent a condolence message to Prime Minister Pham Minh Chinh to convey their condolences on the passing of former Vietnam President Tran Duc Luong on May 20. In the letter, Tharman wrote, 'On behalf of the people of Singapore, I would like to offer my deepest condolences on the passing of former President Tran Duc Luong. President Luong served his country with steadfast determination during a time of profound transformation for Vietnam. President Luong helped to steer Vietnam post-Doi Moi, seeing the country through the Asian Financial Crisis of 1997, and its integration into ASEAN's structures following its formal accession in 1995. His contributions were immense and will be remembered. Our heartfelt sympathies are with you, the people of Vietnam, and President Luong's family.' Lee Hsien, in his letter, said, 'It is with great sadness that I learned of the passing of former President Tran Duc Luong. I had the honour of meeting President Luong during my introductory visit to Vietnam in December 2004 as the then-Prime Minister of Singapore. President Luong was a statesman who devoted his life to serving his country. Under his leadership, Vietnam advanced steadily along its reform path and deepened its engagement with Singapore and the rest of the region. He played a crucial role in laying the foundation for the enduring trust and friendship between our two countries. His legacy will be remembered.' (ANI)
Straits Times
27-05-2025
- Politics
- Straits Times
President Tharman, SM Lee send condolence letters to Vietnam after death of former president
Vietnam's former president Tran Duc Luong died on May 20 at the age of 88 after an illness. PHOTO: AFP President Tharman, SM Lee send condolence letters to Vietnam after death of former president SINGAPORE - President Tharman Shanmugaratnam and Senior Minister Lee Hsien Loong sent condolence letters to Vietnam's leaders on May 26, following the death of the country's former president Tran Duc Luong. Mr Luong died on May 20 at the age of 88 after an illness, reported Viet Nam News . He served as Vietnam's president from 1997 to 2006 . 'On behalf of the people of Singapore, I would like to offer my deepest condolences on the passing of former president Tran Duc Luong,' President Tharman wrote to his counterpart, President Luong Cuong. Mr Tharman noted that Mr Luong had 'served his country with steadfast determination during a time of profound transformation for Vietnam'. He added that the late Vietnamese leader had helped to steer his country in the aftermath of Doi Moi, or a series of market reforms in 1986, seeing Vietnam through the Asian financial crisis of 1997, and 'its integration into Asean's structures' after it became a full member in 1995. 'His contributions were immense, and will be remembered,' said Mr Tharman. SM Lee wrote to Vietnam's Prime Minister Pham Minh Chinh, remembering his introductory visit to Vietnam in December 2004 where he met Mr Luong as then Prime Minister of Singapore. 'President Luong was a statesman who devoted his life to serving his country,' said SM Lee. 'Under his leadership, Vietnam advanced steadily along its reform path and deepened its engagement with Singapore and the rest of the region. He played a crucial role in laying the foundation for the enduring trust and friendship between our two countries. His legacy will be remembered.' Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
26-05-2025
- Business
- Straits Times
President Tharman, SM Lee send condolence letters to Vietnam after passing of former president
Vietnam's former president Tran Duc Luong died on May 20 at the age of 88 after an illness. PHOTO: AFP President Tharman, SM Lee send condolence letters to Vietnam after passing of former president SINGAPORE - President Tharman Shanmugaratnam and Senior Minister Lee Hsien Loong sent condolence letters to Vietnam's leaders on May 26, following the death of the country's former president Tran Duc Luong. Mr Luong had died on May 20 at the age of 88 after an illness, reported Viet Nam News . He served as Vietnam's president from 1997 to 2006 . 'On behalf of the people of Singapore, I would like to offer my deepest condolences on the passing of former President Tran Duc Luong,' President Tharman wrote to his counterpart, President Luong Cuong. Mr Tharman noted that Mr Luong had 'served his country with steadfast determination during a time of profound transformation for Vietnam'. Mr Tharman added that the late Vietnamese leader had helped to steer his country in the aftermath of Doi Moi, or a series of market reforms in 1986, seeing Vietnam through the Asian Financial Crisis in 1997, and 'its integration into Asean's structures' after it became a full member in 1995. 'His contributions were immense, and will be remembered,' said Mr Tharman. Mr Lee wrote to Vietnam's Prime Minister Pham Minh Chinh, remembering his introductory visit to Vietnam in December 2004 where he met Mr Luong as then-Prime Minister of Singapore. 'President Luong was a statesman who devoted his life to serving his country,' said Mr Lee. 'Under his leadership, Vietnam advanced steadily along its reform path and deepened its engagement with Singapore and the rest of the region. He played a crucial role in laying the foundation for the enduring trust and friendship between our two countries. His legacy will be remembered.' Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
24-05-2025
- Business
- The Star
Vietnam warns of personal data 'black market', urges tough penalties
Minister Luong Tam Quang speaks at the NA session on Saturday. - Photo: VNA/VNS HANOI: The Ministry of Public Security on Saturday (May 24) called for strict penalties to prevent the emergence of a black market for personal data, warning that treating such data like ordinary goods could open the door to widespread cybercrime. Speaking during a National Assembly (NA) session, Public Security Minister Luong Tam Quang said the unauthorised trade in personal data had become a key factor behind large-scale fraud and asset theft cases uncovered by police. "Allowing the buying and selling of personal data is essentially allowing the trade of human rights and control over other persons' information," Luong told lawmakers. "Personal data is not an ordinary commodity; it's a special type of resource.' The comments came as legislators debated a draft Law on Personal Data Protection, which aims to plug legal gaps, strengthen oversight, and safeguard rights in the digital space amid rising concerns about data leaks and illegal usage. Several lawmakers noted that even seemingly harmless information, such as phone numbers or email addresses, could be collected and sold without consent, alongside more sensitive data like bank account details or medical records. The consequences, they said, were surging online scams and eroded public trust. NA Deputy Hoang Minh Hieu of Nghe An Province urged the Government to only define a list of 'sensitive personal data,' rather than both sensitive and basic data, saying this would make the law more practical and easier to apply. While most deputies agreed on the need to ban illegal data trading, some warned against sweeping restrictions. NA Deputy Nguyen Thi Viet Nga of Hai Duong said an outright ban with no reasonable exceptions could hinder enforcement and stifle emerging digital business models. NA Deputy Pham Van Hoa of Dong Thap echoed that view, arguing the law should only prohibit unlawful data transactions. "If it's my data, and I believe sharing it doesn't affect national defence or security, and it's not sensitive, then I should be allowed to sell it," he said. Quang, however, warned that lax internal controls in industries like banking, telecommunications, insurance, and electricity have enabled employees to extract accurate, real-time customer information and sell it to scammers. He said such practices fueled fraud schemes. "If we don't prohibit trading personal data like ordinary goods, and enforce strong penalties, we'll see the rise of black market activity with serious consequences for public safety," he said. The draft law has been updated to include provisions banning the use or sharing of personal data for unlawful purposes, including renting or lending data, or allowing one's own data to be used by others in illegal acts. - Vietnam News/ANN
