Avarga Limited
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July 1, 2020
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Avarga Limited

Revenue:
SGD 1,403.9 million (2019)
Profit:
SGD 40.6 million (2019)
Employees:
605 (2018)
GICS Industry Group:
Headquarters:
Singapore
Founded:
1967
Current CEO:
Tong Kooi Ong (May 2012-)
Parent:
This is the ultimate parent

Description

Avarga Limited, formerly UPP Holdings Limited, is engaged in the trading of paper and building products, the operation of single power plant, investment holding and management services.

In January 2017, Avarga Limited began wholesaling and distributing building products in Canada and the United States when its wholly-owned subsidiary UPP Investments Canada Limited (UPP Canada), acquired 58.34% equity interest in Taiga Building Products Ltd (Taiga), a public company incorporated in Canada and listed on the Toronto Stock Exchange.Taiga is one of the largest independent wholesale distributor of building materials in Canada and has operations from the east coast of Canada at Prince Edward Island to the west coast, at Vancouver Island.

Avarga Limited operates a 50 mega-watt (MW) gas fired generating power plant. The company was the first fully foreign-owned independent power plant under Myanmar’s Foreign Investment Law. The company has a 30-year concession with the Government of Myanmar, with sales priced in US dollars and payments made into the company's Singapore bank account in US dollars. Gas is provided for and guaranteed by the Government of Myanmar and the efficiency of operations is guaranteed by the company's technology partner, Myan Shwe Pyi Tractors Ltd, the local Caterpillar distributor in Myanmar with technical assistance from Caterpillar.

The address of its registered office is 1 Kim Seng Promenade, #13-10 Great World City West Lobby, Singapore 237994.

Avarga Limited is listed on the Singapore Exchange (SGX) under the code U09.

In Singapore Dollars (SGD)
In Singapore Dollars (SGD)
In Singapore Dollars (SGD)
No items found.

Operating Segments:

Building products - This segment engages in the wholesale distribution of building products in Canada, United States and overseas. For the year end 31 December 2019, the building products segment accounted for 95.24% (SGD 1,337.1 million) of total revenue.

Paper manufacturing - The paper mill division manufactures and sells industrial grade paper products, collect and trades in waste paper products. For the year end 31 December 2019, the building products segment accounted for 3.42% (SGD 48.1 million) of total revenue.

Power plant - The power division operates a 50 MW gas-fired generating plant in Ywama, Myanmar. For the year end 31 December 2019, the building products segment accounted for 1.33% (SGD 18.7 million) of total revenue.

Mergers and Acquisitions:

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