Hisaka Holdings of Singapore Issues TDRs on TWSE

Taipei, June 27, 2011 (CENS)--On June 24, Hisaka Holdings Ltd. began public trading on the Taiwan Depository Receipts category of the Taiwan Stock Exchange with code of 911619, becoming the 30th foreign firm issuing the receipts on domestic bourse. Each unit of the TDRs represents one common share traded on the Singapore Stock Exchange. With the issuance of the TDRs, the company will be able to obtain fresh funds of NT$714 million.

Poised as one of Singapore’s leading providers of automation solutions and precision mechanical motion components, Hisaka issued 60 million units of TDRs at the initial offering price of NT$11.9 per unit. Soon after the launch, the company saw TDR prices reach the daily up-limit price of NT$12.7, brushing away the recent doldrums of domestic TDR market.

Hisaka CEO Jackie Cheng said his company will use the proceeds from the TDRs issuance to develop medical equipment and engage in the environmental-protection and energy-saving arenas. Thanks to the acquisition of the TDR proceeds, the company will step up developing such high-margin products as portable blood warmer (PBW) systems.

The company said it has received orders for semiconductor parts to keep production lines busy through the end of September, the best performance in the firm’s history. Thanks to the influx of orders, the company will see continued growth in sales in the second half of this year.

Hisaka is an ISO9001:2000-certified company for its high level of management system in the procurement and stockholding of factory automation control devices and pars, components for mechanical power transmission and supply, and manufacturing of electromechanical parts. It is also recipients of the Enterprise 50 and SME 500 awards in Singapore.