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Delisted company: Advance Modules Group Ltd (A62)
If you focus on blue chip stocks, you will probably not realise there are many companies delisted from SGX yearly, besides CK Tangs. Therefore, any analysis that excludes delisted or bankrupt companies risks having the survivorship bias.Therefore, I decide to take a look at Advance Modules (A62) and a timeline of major happening from its listing in 2005 to delisting in August 1st, 2009.Company Info: The core business of Advance Modules is in the manufacturing of memory products which are used by giants in the IT industry like Dell, Hewlett Packard and IBM. The Group designs, develops and manufactures products for OEM customers as well as under its own brand names. IPO Detail: Net proceed: S$10.4m, usesa) $3.5m expanding IC packaging so less reliant on packaging suppliersb) $2.0m product developmentc) $3.0m expand sales teamsd) $1.9m balance for working capitial- Almost 20% uses for product development aka R&D. I am starting to hate R&D because it is a form of gambling by companies.- Around 1/3 for packaging
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