- June 16, 2017
NAMI Corp. (the “Group”) has decided in the Board of Directors’ meeting held in March 2017, to conduct a fundamental company-wide restructuring plan in order to enhance the Group’s ability to generate profits and create value.
1. Objectives and Overview of Restructuring
The aim of NAMI Corp. launching the fundamental restructuring is to improve profitability and value creation, in addition to shifting from a strategy pursuing revenue growth to one pursuing profit enhancement. NAMI Corp. will prioritise restructuring of headquarter functions and green technology businesses.
The main goals and initiatives of the restructuring are as follows:-
Streamline headquarter function to match the scale of restructured businesses.
Create a company-wide focus on high value-added businesses to improve profitability.
Optimise sales and R&D structure on a global basis.
Shift to portfolio-based management, implement targets linked to shareholder values, and enhance governance structure.
NAMI Corp’s aim of company-wide restructuring plan is to become a company capable of sustaining value creation by investing and rebuilding NAMI Corp’s portfolio of 6 businesses, consisting of 3 existing businesses:-
In accordance with this company-wide restructuring plan, several avenues of growth have been pursued:
Entry of the green technology business into huge environmental initiatives with the acquisition of 2 companies.
Entry of the technology business into social media related field.
Entry of the property development business.
2. Performing Due Diligence
NAMI Corp. and its business brokers are currently performing due diligence on these 4 existing companies, which involves looking closely at all of the company’s records: statutory financial statements; internal process controls; management accounts, budgets, analyses and projections/forecasts; contracts with employees, suppliers, customers and others; insurance policies and assembling the jigsaw. This process requires more than 3 to 6 months and it is an on-going process, which is the Group’s highest priority.
3. Acquiring Process
Once the due diligence process and the restructuring of the Group is firmed up, NAMI Corp. will progressively acquire the successful companies, which will be in the next 3 months. The portfolio investment of these companies will be announced in due course. The outlook of NAMI Corp. will be reported in a separate announcement covering the impact of the restructuring.
4. Quarterly Shareholder Update
NAMI Corp. is 100% committed to the intensive restructuring process that will successfully represent the Group well into the future. In the meantime, the Group will continue to update shareholders quarterly on the progress, with specific reference to revenue and profits, achievements and goals, and additional important fundamental developments and milestones.