Advance SCT Ltd., based in Singapore, expects to see significant growth in its recycling division this fiscal year.
In a report to its shareholders, Advance SCT reported group revenue for the second half of last year climbed more than 700 percent to $267 million. Meanwhile, net profit increased by 248 percent to $6.3 million.
For this year, the company will focus on the growth of its recycling and supply chain management business as well as its PCB testing and finishing services business. To achieve scale in its recycling and supply chain business, the Group will work towards growing a global network of suppliers and a regional network of collection centers.
In Singapore, the Group added a new 260,000 square-foot recycling plant this past September, increasing the company’s current recycling floor area in Singapore by ore than 100 percent.
At the end of last year the company also announced that it had acquired two recycling operations, one location in Malaysia, the other in Indonesia. The acquisitions are expected to be complete by this March.
The acquisitions of these facilities will boost the amount of copper scrap that Advance will be handling.
Going further, the company is scheduled to complete its acquisition of 80 percent of a 60,000 metric ton copper smelter in Malaysia. The smelter will take in copper scrap collected by the company’s recycling arm. The smelter is expected to be complete this monbth.
ASCT was incorporated in Singapore on in 2004. The Group started by offering printed circuit board testing services and the distribution of PCB related materials and equipment. In August 2006, the Group acquired Green World to vertically integrate into recycling and copper supply chain management.
Green World is continuing to build its global sourcing network as well as a network of its own collection centers in the region.