Prospectus Dated 20 May 2000
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PROSPECTUS DATED 20 MAY 2000 Application has been made to the Singapore Exchange Securities OUR STRENGTHS Trading Limited (“SGX-ST”) for permission to deal in, and for quotation of, all the ordinary shares of $0.05 each (“Shares”) in the capital of • Secured distributorship and sales representative Achieva Limited (the ”Company”) already issued as well as the new agreements and arrangements relating to well- Shares (the “New Shares”) which are the subject of this Invitation (as BUSINESS PROFILE established brand names. defined herein) and the Shares which may be issued pursuant to the • Principal activity is the distribution of electronic and options granted to employees referred to on pages 76 and 77 of this IT-related products in the Asia-Pacific region including Prospectus. Such permission will be granted when the Company has WELL-ESTABLISHED BRAND NAMES been admitted to the Official List of the SGX-ST. Acceptance of Singapore, Malaysia, Thailand, the Philippines, applications will be conditional upon, inter alia, permission being Indonesia, Australia, Vietnam and the People’s Republic of China (including Hong Kong) (“PRC”). granted to deal in, and for quotation of, all of the issued Shares as well PC peripherals, parts and software as the New Shares. Moneys paid in respect of any application accepted will, subject to applicable laws, be returned, without interest • Distributes electronic and IT-related products which American Power Conversion, ASUSTeK, Aztech, Gigabyte, Intel, Kodak, LG, Microsoft, Mitsubishi, or any share of revenue earned or other benefit arising therefrom and may be broadly classified into: Motorola, PC Partner and Seagate at the applicant’s own risk, if the said permission is not granted. – PC peripherals, parts and software; – Electronic components; and The SGX-ST assumes no responsibility for the correctness of any of Electronic components the statements made, reports contained or opinions expressed in this – Data network products and services. Prospectus. Admission to the Official List of the SGX-ST is not to be Allayer, Altera, Ecliptek, Falco Electronics, Level One, taken as an indication of the merits of the Invitation, the Company, its • Appointed as distributor and sales representative for Semtech, Synplicity, Texas Instruments, Thomas & subsidiaries, the issued Shares or the New Shares. several well-known brands including Altera, Intel, Betts, ZiLOG Microsoft, Motorola, Seagate, Texas Instruments and A copy of this Prospectus, together with copies of the Application 3Com. Data network products and services Forms, has been lodged with and registered by the Registrar of 3Com Companies and Businesses in Singapore who takes no responsibility • Diverse clientele of approximately 3,500 customers for its contents. spread across the Asia-Pacific region including Singapore, Malaysia, Thailand, the Philippines, Indonesia, Australia, Vietnam and the PRC. • Extensive customer base in the Group's current ACHIEVA territories. ACHIEVA LIMITED EXTENSIVE CUSTOMER BASE (Incorporated in the Republic of Singapore on 3 November 1993) Invitation in respect of 103,540,000 New Shares of $0.05 each comprising: – PC peripherals, • Dealers parts and software • Retailers (1) 21,000,000 Offer Shares at $0.22 for each Offer Share by way of • Value-added Resellers public offer; and • System Integrators (2) 82,540,000 Placement Shares by way of placement comprising: – (a) 74,286,000 Placement Shares at $0.22 for each Electronic Placement Share; and Mainly multinational components manufacturers of multimedia (b) 8,254,000 Reserved Shares at $0.20 for each Reserved products, data networking and Share for subscription by the employees, management and telecommunications equipment directors of the Group, for major PC OEM and major network equipment suppliers payable in full on application. Data network In Malaysia: Manager Lead Underwriter and Lead Placement Agent products and • Commercial firms Agent services • Government-related organisations • Educational institutions PROSPECTUS DATED 20 MAY 2000 Application has been made to the Singapore Exchange Securities OUR STRENGTHS Trading Limited (“SGX-ST”) for permission to deal in, and for quotation of, all the ordinary shares of $0.05 each (“Shares”) in the capital of • Secured distributorship and sales representative Achieva Limited (the ”Company”) already issued as well as the new agreements and arrangements relating to well- Shares (the “New Shares”) which are the subject of this Invitation (as BUSINESS PROFILE established brand names. defined herein) and the Shares which may be issued pursuant to the • Principal activity is the distribution of electronic and options granted to employees referred to on pages 76 and 77 of this IT-related products in the Asia-Pacific region including Prospectus. Such permission will be granted when the Company has WELL-ESTABLISHED BRAND NAMES been admitted to the Official List of the SGX-ST. Acceptance of Singapore, Malaysia, Thailand, the Philippines, applications will be conditional upon, inter alia, permission being Indonesia, Australia, Vietnam and the People’s Republic of China (including Hong Kong) (“PRC”). granted to deal in, and for quotation of, all of the issued Shares as well PC peripherals, parts and software as the New Shares. Moneys paid in respect of any application accepted will, subject to applicable laws, be returned, without interest • Distributes electronic and IT-related products which American Power Conversion, ASUSTeK, Aztech, Gigabyte, Intel, Kodak, LG, Microsoft, Mitsubishi, or any share of revenue earned or other benefit arising therefrom and may be broadly classified into: Motorola, PC Partner and Seagate at the applicant’s own risk, if the said permission is not granted. – PC peripherals, parts and software; – Electronic components; and The SGX-ST assumes no responsibility for the correctness of any of Electronic components the statements made, reports contained or opinions expressed in this – Data network products and services. Prospectus. Admission to the Official List of the SGX-ST is not to be Allayer, Altera, Ecliptek, Falco Electronics, Level One, taken as an indication of the merits of the Invitation, the Company, its • Appointed as distributor and sales representative for Semtech, Synplicity, Texas Instruments, Thomas & subsidiaries, the issued Shares or the New Shares. several well-known brands including Altera, Intel, Betts, ZiLOG Microsoft, Motorola, Seagate, Texas Instruments and A copy of this Prospectus, together with copies of the Application 3Com. Data network products and services Forms, has been lodged with and registered by the Registrar of 3Com Companies and Businesses in Singapore who takes no responsibility • Diverse clientele of approximately 3,500 customers for its contents. spread across the Asia-Pacific region including Singapore, Malaysia, Thailand, the Philippines, Indonesia, Australia, Vietnam and the PRC. • Extensive customer base in the Group's current ACHIEVA territories. ACHIEVA LIMITED EXTENSIVE CUSTOMER BASE (Incorporated in the Republic of Singapore on 3 November 1993) Invitation in respect of 103,540,000 New Shares of $0.05 each comprising: – PC peripherals, • Dealers parts and software • Retailers (1) 21,000,000 Offer Shares at $0.22 for each Offer Share by way of • Value-added Resellers public offer; and • System Integrators (2) 82,540,000 Placement Shares by way of placement comprising: – (a) 74,286,000 Placement Shares at $0.22 for each Electronic Placement Share; and Mainly multinational components manufacturers of multimedia (b) 8,254,000 Reserved Shares at $0.20 for each Reserved products, data networking and Share for subscription by the employees, management and telecommunications equipment directors of the Group, for major PC OEM and major network equipment suppliers payable in full on application. Data network In Malaysia: Manager Lead Underwriter and Lead Placement Agent products and • Commercial firms Agent services • Government-related organisations • Educational institutions GROWTH STRATEGIES AND FUTURE PLANS The Group’s business development plans for 2000 and 2001 : Diversification • To secure additional product lines of electronic components and Internet telephony products. • To set up a design centre with third parties to provide design and consultancy services relating to the electronics industry. • To explore other investment opportunities in businesses related to the Group’s core businesses or the electronics industry. • Ability to carry and hold sufficient stocks to satisfy customers’ orders. Ancillary services • To provide advanced training in digital design and applications to • Good relationships with suppliers and customers. design engineers. • Provision of ancillary services including servicing of equipment Geographical expansion under suppliers’ warranties and contract maintenance for PC systems. • To further expand market share in existing markets. • Ability to provide technical support for customers at the product • To seek fresh opportunities in new emerging markets. design stage including programming and training services. FINANCIAL OVERVIEW PROSPECTS TURNOVER (S$ m) IT market outlook for Asia-Pacific region (excluding Japan) 250 • Market studies reveal renewed growth in the region:- 229.2 200 – Total PC shipments in 1999 surpassed 14.1 million units for an 190.5 increase of 35.1% over 1998. The PC shipments in 1999 was the 150 highest annual figure ever recorded.1 135.4 100 – Shipment value of semiconductor components grew by 21.4% in 50 1999