VICOM Ltd *Official* (SGX:WJP)

[occifer]

problem with this counter is that its valuation is just expensive relative to others.

 

[Shion]

Vicom enters into solar power purchase agreements worth $2.07 mil in IPTs​

https://www.theedgesingapore.com/ne...-power-purchase-agreements-worth-207-mil-ipts
Vicom has entered into several solar power purchase agreements with ComfortDelGro (CDG) Engie Solar Pte Ltd. The agreements were in respect to Vicom’s five inspection centres including Kaki Bukit, Sin Ming and Changi North, as well as between Vicom’s wholly-owned subsidiary, Setsco Services, and CDG Engie Solar for Setsco’s premises at Bukit Batok.

Under each of the power purchase agreements, CDG Engie Solar will install, construct, operate and maintain a solar photovoltaic generating plant at each site. CDG Engie Solar is also required to supply electricity generated from the plant to Vicom or Setsco at a fixed tariff. There is a guaranteed minimum annual output for each site.

The estimated total contract value of the power purchase agreements is $2.07 million. The value is computed based on the fixed tariff and an estimated average annual generation output of 1,890 MWh. The duration of the power purchase agreements range between 17 to 25 years. This is to coincide with the remaining lease term for each site. Upon the expiry of each agreement, Vicom or Setsco has the option of requiring CDG Engie Solar to transfer ownership of the plant to Vicom or Setsco at no additional cost.

According to Vicom, CDG Engie Solar was awarded the contracts following a public tender called by the former. CDG Engie Solar was one of the five who submitted their tender proposals, and was deemed the most competitive based on their pricing and proposed solution. CDG Engie Solar also proposed the shortest completion lead time of four months.

The installation and operation of the solar photovoltaic (PV) systems at the six sites will divert Vicom’s energy use away from fossil fuels and towards renewable energy. It is expected to reduce the group’s Scope 2 emissions. The installation is also one of Vicom’s several key sustainability initiatives.

At the same time, the installation of the solar PV systems will help Vicom to maintain a competitive advantage as a sustainable service provider, with cost savings of approximately $7.48 million over the duration of the agreements.

As CDG is a controlling shareholder of Vicom, owning 67.06% of the total number of shares in the latter, the transaction constitutes as an interested person transaction under the SGX’s listing rules.

CDG, through its wholly-owned subsidiary, ComfortDelGro Engineering Pte Ltd, owns 49% of the total number of shares in CDG Engie Solar.

Shares in Vicom closed 1 cent higher or 0.52% up at $1.92 on Dec 30.

 

[Oppa380]

Still range bound

 

[sohguanh]

This stock business is vehicle inspection which I think most car owners in Spore at some point in time is their customer. Despite the price going down the valuation is still quite expensive IMO.

 

[Shion]

ComfortDelGro’s subsidiary Vicom reports profit after tax of $7.52 mil for 1QFY2025 up 7.4% y-o-y​

https://www.theedgesingapore.com/ca...ts-profit-after-tax-752-mil-1qfy2025-74-y-o-y

Vicom, a subsidiary of ComfortDelGro, has reported a profit after tax of $7.52 million for the 1QFY2025 ended March 31, 2025, up 7.4% y-o-y.
The company, which is in the business of inspection and technical testing, reported a revenue of $33.3 million for 1QFY2025, up 18.9% y-o-y.

This was because of higher revenue contribution from the On-Board Unit (OBU) for the Electronic Road Pricing (ERP) 2.0 project, and an increase in testing volume from the manufacturing and construction sectors.

Patmi's increase was due to higher operating profit and lower interest income.

Meanwhile, operating costs grew by 23.2% y-o-y to $23.3 million, from higher OBU subcontractor fees and raw materials.

The company has a cash and cash equivalent of $65.14 million, up 7.3% q-o-q as at end March.

Total assets grew to $216.24 million as at end March.

The group says that demand for vehicle testing and related work remained strong in the quarter. It installed 53,000 OBUs during this period, compared to 35,000 units installed in the fourth quarter of last year.

Vicom says that while demand for non-vehicle testing has improved in the quarter, recent escalations in global trade may result in lower demand for its testing business.

Shares in Vicomclosed 2 cents lower or 1.439% down at $1.37 on May 8.