Research and Trading Portal for US-listed China Stocks · March 29, 2017
China Tracker - Details for Asia Pacific Wire & Cable (APWC)
Asia Pacific Wire & Cable
In the current environment surrounding U.S.-listed China companies, the Company would like to emphasize APWC's more than 40-year history as a stable, multinational company serving Singapore, Thailand, and other countries in Southeast Asia and demonstrating solid business performance and financial results. The Company recently completed its annual audit by the leading global firm, Ernst & Young, and has filed its annual report on form 20-F ahead of the June 30 deadline. APWC as a company and as a brand enjoys a good reputation with its customers and operates from an extremely sound financial position with strong auditing procedures and internal controls and close adherence to SEC and other regulations. The Company recently improved its corporate governance by appointing a highly qualified independent director, who serves on the Company's Audit Committee, in addition to improving its standing with investors through its upgrade to the NASDAQ Capital Market exchange.
Asia Pacific Wire & Cable Corporation today announced that its common stock has been approved for listing on the NASDAQ Capital Market. The shares are scheduled to trade on the NASDAQ Capital Market under the ticker symbol APWC and the Company understands that trading will commence in the coming days.
The Company expects to continue to experience solid demand for its high-quality cable and wire products as Asia's telecommunications and electrical infrastructure deployments continue at an unprecedented pace.
Asia Pacific Wire and Cable Corporation is pleased by the strong demand for the telecommunications products in Thailand and optimistic about experiencing a continued recovery in our business. These contracts represent a healthy pipeline and stable growth in our telecommunications-cable business. The Company expects to see continued strong demand for our wire and cable alongside the expansion of telecommunications and electrical infrastructure in the growing Asia-Pacific region.
The Company's plans include seeking a listing on a national securities exchange, such as Nasdaq or NYSE Amex Equities, as and when the Company meets the listing criteria for one of those exchanges. In the event of a listing on a national securities exchange, the Company intends to rely upon the "controlled company exemption" which will exempt the Company from a requirement to have a board of directors that has a majority of independent directors.