The Company was incorporated in Singapore on 4 November 1999 and was listed on SESDAQ (now Catalist) of the Singapore Exchange on 14 August 2000 under the name of New Wave Technologies Ltd. On 17 January 2006, the Company changed its name to New Wave Holdings Ltd. to better reflect its corporate profile and new core business structure.
At the date of listing, the Company had three core business activities, namely Components Distribution, Value Added Distribution and e-commerce & IT Services and operated with two subsidiaries, namely, General Electronics & Instrumentation Corporation Private Limited (“GEIC”) and Eplus Technologies Pte Ltd. During 2004, we diversified into the business of Aluminium Products Distribution and terminated the Value Added Distribution and e-commerce businesses.
Acquired 36% of Manufacturing Network Pte Ltd (“MNPL”) and its subsidiary Everest Metals (Suzhou) Co., Ltd. (“EMSC”)(“MNPL Group”)
Acquired another 46% of MNPL Group making the MNPL Group companies subsidiaries of the Company
MNPL transferred its entire equity interest in EMSC to Reliance Pan Pacific Pte. Ltd., (“RPP”) a joint venture company formed in October 2005, of which 70% is owned by NYSE listed Reliance Steel &Aluminium Co. and 30% owned by MNPL.
Acquired Fidelis International Private Limited and started the Scrap Metal Trading business. After the financial crisis, the Company found the business not viable and had since closed this division.
Our Malaysian subsidiary, MNPL Aluminium Centre Sdn Bhd, commenced business, operating from its metal service centre in JB.
Acquired the remaining 18% equity in MNPL, after which MNPL becomes a wholly owned subsidiary of the Company.
Disposed its 30% equity interest in RPP to Reliance Steel &Aluminium Co.
Incorporated MNPL Investments Pte. Ltd. in Singapore as holding company for further investments in the People’s Republic of China (“PRC”).
Acquired 100% of MSC Aluminium Holdings Pte. Ltd. and its subsidiaries – Twin Metal Service Centre SdnBhd and ST Microtech Sdn Bhd. These MSC companies have a well-established network in Malaysia trading in aluminium alloy products.
Incorporated MNPL Metals Co., Ltd. in Kunshan, PRC to expand its Aluminium Products Distribution business to the PRC. The Kunshan subsidiary commenced its metal service centre business in May 2011.
Eplus Technologies Sdn Bhd becomes a wholly owned subsidiary of the Company. It commenced trading in August 2011 in cabling products and other electrical and electronic components.
Acquired 100% of Alutech Metals Asiatic Pte. Ltd. and its subsidiary Alutech Metals Co., Ltd. This acquisition represents a strategic investment into the expansion of our distribution network in the PRC.
Commenced business operations from our new metal service centre in Penang, Twin Metal (Penang) Sdn. Bhd.
