Friday, 13 April, 2012 8:24 AM
Posted by Kevin Scully
AEM once a darling had fallen on hardtimes with regulators investigating and charging several members of its management team. Some of the cases are still pending. The company was on the verge of bankruptcy and liquidation at one time as seen by the share price chart below.
The recovery in the stock price off its low of 5 cents started in late 2011 when the company returned to profitability and its balance sheet improved substantially. The FY2011 results show a nice turnaround with the company reporting net profit of S$6.8mn. Given the losses AEM was on the watchlist and due to be delisted in March 2012. ...