Abiopharma

The Company was incorporated on 9 October 1965 as a private company. It
acquired public status on 5 June 1968.
For 24 years, the Company had been making refrigerators and air-conditioners.
With rising costs and the removal of duty protection, the Company phased out
manufacturing of refrigerators and air-conditioners in 1990. In 1990, the
Lityan group did a reverse takeover of the loss-making Group. The Companys
name was changed from Acma Electrical Industries Ltd to Acma Ltd on 1 August
1990.
Since 1987, it has also been developing business in Russia. It owns the Moscow
franchises for Delifrance, KFC, Pizza Hut and Haagen Dazs. It made forays into
the USA market with the acquisition of 62 percent of chipmarker Paradigm Inc in
1994 and the purchase of 28 percent share in Hayes Microcomputer Products Inc
in 1996. However, Hayes plunged into bankruptcy in 1998 In 1998, its 70
percent-owned Enersave Hldgs was listed on the SGX-ST. Since 1994, the Group
has been building up its plastics tooling and injection molding operations. It
has 8 plastics factories around world under the Acot division.
The principal activities of the Company are those of investment holding and
contract works.


Chairmans Statement

Additional info from SGX:

The Company was incorporated on 9 October 1965 as a private company. It
acquired public status on 5 June 1968.
For 24 years, the Company had been making refrigerators and air-conditioners.
With rising costs and the removal of duty protection, the Company phased out
manufacturing of refrigerators and air-conditioners in 1990. In 1990, the
Lityan group did a reverse takeover of the loss-making Group. The Companys
name was changed from Acma Electrical Industries Ltd to Acma Ltd on 1 August
1990.
Since 1987, it has also been developing business in Russia. It owns the Moscow
franchises for Delifrance, KFC, Pizza Hut and Haagen Dazs. It made forays into
the USA market with the acquisition of 62 percent of chipmarker Paradigm Inc in
1994 and the purchase of 28 percent share in Hayes Microcomputer Products Inc
in 1996. However, Hayes plunged into bankruptcy in 1998 In 1998, its 70
percent-owned Enersave Hldgs was listed on the SGX-ST. Since 1994, the Group
has been building up its plastics tooling and injection molding operations. It
has 8 plastics factories around world under the Acot division.
The principal activities of the Company are those of investment holding and
contract works.


Chairmans Statement