Asia Pacific Wire & Cable Corp Ltd Files 20-F Annual Report

TL;DR

<b>Asia Pacific Wire & Cable Corp Ltd has filed its 20-F annual report for the fiscal year ending December 31, 2023.</b>

AI Summary

ASIA PACIFIC WIRE & CABLE CORP LTD (APWC) filed a Foreign Annual Report (20-F) with the SEC on April 29, 2024. Filed 20-F annual report for the fiscal year ending December 31, 2023. Company is engaged in drawing and insulating nonferrous wire. Business address located in Taipei, Taiwan. Fiscal year end is December 31. Filed under the 1934 Securities Exchange Act.

Why It Matters

For investors and stakeholders tracking ASIA PACIFIC WIRE & CABLE CORP LTD, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operations for the past fiscal year. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — ASIA PACIFIC WIRE & CABLE CORP LTD shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand the company's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-29 — Filing Date (Date filed)
• 3357 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• ASIA PACIFIC WIRE & CABLE CORP LTD (company) — Filer name
• APWC (company) — Ticker symbol
• 2024-04-29 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• TAIPEI (location) — Business address city
• 1934 Act (regulation) — SEC Act

FAQ

Industry Context

The company operates in the manufacturing sector, specifically drawing and insulating nonferrous wire.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring foreign private issuers to submit annual reports.

What Investors Should Do

1. Analyze the financial statements for revenue, profitability, and debt levels.
2. Review any disclosed risk factors for potential operational or market challenges.
3. Compare current year performance against previous years if historical data is available.

Year-Over-Year Comparison

This is the initial filing data extracted; comparison to a prior filing is not possible with the provided information.

Key Financial Figures

• $000 — nual Report are expressed in thousands ($000), except where otherwise indicated (e.g

Filing Documents

• apwc-20231231.htm (20-F) — 3977KB
• exhibit212023.htm (EX-2) — 54KB
• exhibit12_12023.htm (EX-12) — 9KB
• exhibit12_22023.htm (EX-12) — 9KB
• exhibit13_12023.htm (EX-13) — 5KB
• exhibit13_22023.htm (EX-13) — 5KB
• exhibit971.htm (EX-97) — 27KB
• apwc-20231231_g1.jpg (GRAPHIC) — 73KB
• 0001026980-24-000002.txt (&nbsp;) — 20880KB
• apwc-20231231.xsd (EX-101.SCH) — 157KB
• apwc-20231231_cal.xml (EX-101.CAL) — 174KB
• apwc-20231231_def.xml (EX-101.DEF) — 633KB
• apwc-20231231_lab.xml (EX-101.LAB) — 1241KB
• apwc-20231231_pre.xml (EX-101.PRE) — 1014KB
• apwc-20231231_htm.xml (XML) — 4605KB

: Identity of Directors, Senior Management and Advisers

Item 1: Identity of Directors, Senior Management and Advisers 6

: Offer Statistics and Expected Timetable

Item 2: Offer Statistics and Expected Timetable 6

: Key Information

Item 3: Key Information 6 3.A. Selected Consolidated Financial Data 6 3.B. Capitalization and Indebtedness 8 3.C. Reasons for the Offer and Use of Proceeds 8 3.D. Risk Factors 8

: Information on the Company

Item 4: Information on the Company 25 4.A. History and Development of the Company 25 4.B. Business Overview 26 4.C. Organizational Structure 33 4.D. Property, Plants and Equipment 34

: Unresolved Staff Comments

Item 4A: Unresolved Staff Comments 34

: Operating and Financial Review and Prospects

Item 5: Operating and Financial Review and Prospects 34 5.A. Operating Results 34 5.B. Liquidity and Capital Resources 41 5.C. Research and Development 43 5.D. Trend Information 43 5.E. Critical Accounting Estimates 43

: Directors, Senior Management and Employees

Item 6: Directors, Senior Management and Employees 44 6.A. Directors and Senior Management 44 6.B. Compensation 46 6.C. Board Practices 46 6.D. Employees 47 6.E. Share Ownership 47 6.F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation 48

: Major Shareholders and Related Party Transactions

Item 7: Major Shareholders and Related Party Transactions 48 7.A. Major Shareholders 48 7.B. Related Party Transactions 48

: Financial Information

Item 8: Financial Information 49 8.A. Consolidated Statements and Other Financial Information 49 8.B. Significant Changes 50

: The Offer and Listing

Item 9: The Offer and Listing 50

: Additional Information

Item 10: Additional Information 50 10.A. Share Capital 50 10.B. Memorandum of Association and Bye-Laws 50 10.C. Material Contracts 58 10.D. Exchange Controls 59 10.E. Taxation 60 10.F. Dividends and Paying Agents 64 10.G. Statement by Experts 64 10.H. Documents on Display 64 10.I. Subsidiary Information 64 2

: Quantitative and Qualitative Disclosures About Market Risks

Item 11: Quantitative and Qualitative Disclosures About Market Risks 64 11.1 Interest Rate Risk 64 11.2 Foreign Currency Risk 64 11.3 Market Risks Relating to Copper 65 11.4 Equity Price Risk 65 11.5 Fair Value of Designated Market-Sensitive Derivative Contracts 65

: Description of Securities Other than Equity Securities

Item 12: Description of Securities Other than Equity Securities 65 Part II

: Defaults, Dividend Arrearages and Delinquencies

Item 13: Defaults, Dividend Arrearages and Delinquencies 66

: Material Modifications to the Rights of Security Holders and Use of Proceeds

Item 14: Material Modifications to the Rights of Security Holders and Use of Proceeds 66

: Controls and Procedures

Item 15: Controls and Procedures 66

: Audit Committee Financial Expert

Item 16A: Audit Committee Financial Expert 67

: Code of Ethics

Item 16B: Code of Ethics 67

: Principal Accountant Fees and Services

Item 16C: Principal Accountant Fees and Services 67

: Exemptions from the Listing Standards for the Audit Committees

Item 16D: Exemptions from the Listing Standards for the Audit Committees 67

: Purchases of Equity Securities by the Issuer and Affiliated Purchasers

Item 16E: Purchases of Equity Securities by the Issuer and Affiliated Purchasers 67

: Change in Registrant's Certifying Accountant

Item 16F: Change in Registrant's Certifying Accountant 67

: Corporate Governance

Item 16G: Corporate Governance 67

: Mine Safety Disclosure

Item 16H: Mine Safety Disclosure 68

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 68

Insider Trading Policies

Item 16J. Insider Trading Policies 68

Cybersecurity

Item 16K. Cybersecurity 68 Part III

: Financial Statements

Item 17: Financial Statements 70

: Financial Statements

Item 18: Financial Statements 70

: Exhibits

Item 19: Exhibits 70 19.1 Index to Audited Financial Statements 70 19.2 Index to Exhibits 71 Signature 72 3 CERTAIN DEFINITIONS AND CONVENTIONS Unless the context otherwise indicates or requires, all references to: the terms "we," "us," "our," and "APWC" refer to Asia Pacific Wire & Cable Corporation Limited, a holding company incorporated in Bermuda with principal executive offices in Taipei, Taiwan. the terms "our Company," "our business" and "our operations" refer to APWC together with our operating subsidiaries. Dollar amounts in this Annual Report are expressed in thousands ($000), except where otherwise indicated (e.g. "million") or with respect to earnings per share. the terms "dollar", "US

: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable

: OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2: OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable

: KEY INFORMATION

ITEM 3: KEY INFORMATION 3.A. Selected Consolidated Financial Data The following selected consolidated financial data is derived from the consolidated financial statements of our Company for the years ended December 31, 2023, 2022, 2021, 2020 and 2019, prepared in accordance with International Financial Reporting Standards ( "IFRS" ) as issued by the International Accounting Standards Board ( "IASB" ). 6 The selected data set forth below should be read in conjunction with, and is qualified in its entirety by, the discussion in "Item 5. Operating and Financial Review and Prospects" and the consolidated financial statements and the notes thereto referenced in "Item 18. Financial Statements." For the Year Ended December 31, 2023 2022 2021 2020 2019 (2) (in US$ thousands, except for earnings per share) Income Statement Data: Revenue $ 425,772 $ 433,893 $ 476,659 $ 313,564 $ 338,160 Costs of sales (395,545) (401,363) (455,508) (279,686) (313,373) Gross profit 30,227 32,530 21,151 33,878 24,787 Other operating income 433 1,026 587 814 385 Selling, general & administrative expenses (24,472) (24,978) (26,484) (27,006) (25,051) Other operating expenses — (3) (7) (5) (547) Net impairment loss on financial and contract assets (4,640) (508) (220) (124) (223) Operating profit/(loss) 1,548 8,067 (4,973) 7,557 (649) Finance costs (2,527) (1,650) (1,251) (744) (1,012) Finance income 205 120 123 320 506 Share of loss of associates (2) (1) (1) (1) (3) Exchange gain/(loss) 679 143 (4,425) (579) 1,550 Other income 570 889 671 1,173 717 Other expense (9) (3) (1) (1) (3) Profit before taxes 464 7,565 (9,857) 7,725 1,106 Income taxes expense (162) (2,808) 1,345 (4,016) (2,057) Profit/(loss) for the year $ 302 $ 4,757 $ (8,512) $ 3,709 $ (951) Attributable to: Equity holders of APWC $ 3,867 $ 3,874 $ (2,642) $ (552) $ (1,632) Non-controlling interests $ (3,565) $ 883 $ (5,870) $ 4,261 $ 681 Earnings per share (1) Basic and diluted profit/(loss) for the year

View Full Filing

View this 20-F filing on SEC EDGAR