28 November 2005      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
 GlobalVoice
120,629
 Biosensors
96,339 
 Pearl Energy
83,909 
 UniFiber
72,762 
 GlobalTest
72,645 
Weekly movement as at 25 November 2005
WEEK'S TOP GAINER
 Name
Price  
Chg 
 Creative 50
13.700 
+1.100
 Shang Asia 2kHK$
11.500 
+0.500
 Fortune Reit HK$
5.700 
+0.350
 SPC
4.840 
+0.320
 Jardine C&C
10.200 
+0.300
Weekly movement as at 25 November 2005

 
HEADLINES FOR THE WEEK
Techcomp: Won US$5 Million Order From China CDC
SP AusNet:
IPO Seen Priced At $1.68 To $1.70
Capitaland: China Venture With Hong Kong Lai Fung Holdings
Genting: To Raise US$150 Million From Singapore Share Sale
LMA: To Supple Laryngeal Mask Airway Products To Novation
Keppel: Won 3 Thermal Solutions Contracts In Europe Worth
$42 Million


SGX: SET Signs MOU To Explore Derivatives Link
Lee Say: Lodged Preliminary Prospectus With MAS
SGX: Outsource IT To HP Singapore
Singtel: Optus To Move 800 Call Centre Jobs To India
Mapletree: To Buy 3 Properties For $35 Million
Food Junction:
Net Profit Up 3% At $7.9 Million
CapitaLand:
Plans To Set Up Reit In Malaysia.
 
HOT Off The Press

ElectroTech ISO/TS 16949:2002 Certification

The EMS Division of ElectroTech Investments Limited, comprising the Precico Group of Companies, was accredited with ISO/TS 16949:2002 on 20 August 2005.

In 2005, the Division has been successful in winning some orders from two Tier 1 automotive customers.

With this accreditation, the EMS Division is now in a position to scale up the existing customers as well as penetrate new Tier 1 automotive customers and moving forward, grow the automotive market segment share by providing the Group's Integrated Manufacturing Services ("IMS").

ElectroTech Provides Contract Design and Manufacturing services to a diverse customer base in various industry sectors and countries. [+]

Aztech @ Telecomm India 2005

Aztech Systems Ltd will be at the Telecomm India 2005 show, which will be held at Mumbai, India from 23 November to 25 November.

Aztech welcomes visitors at Booth T-102 at the Grand Hyatt Mumbai Exhibition Ground.

The newest and fastest of the Aztech xDSL family, VDSL300E IP-based VDSL1/2 Ethernet Bridge Modem is based on two core technologies, IP (Internet Protocol) and VDSL (Very High-Speed Digital Subscriber Line) and seamlessly extends the high-speed Internet connection, or the existing Ethernet network, to any room in the building or house with a telephone jack. Supporting both symmetric and asymmetric applications, Aztech VDSL300E provides up to 100Mbps speed access at distance up to 1.26 km and can be deployed in both home and enterprise environment to support a broad variety of applications and networking needs.

Aztech Systems Ltd is a multi-national company providing OEM/ODM design and manufacturing services as well as contract manufacturing service. [+]

Daka's A-bike Wins Special Design Award; Expected To Launch In Japan And UK By March 2006

The A-bike received the "Distinguished Design from China" award, which is a special merit prize category of the Hong Kong Design Centre Awards 2005.

The special merit award, which acknowledges excellent designs that originate from the Greater China region, was presented to Daka in recognition of its outstanding achievement in the design of the A-bike.

There are numerous entries originating from Greater China for this special merit prize. The A-bike is one of the five outstanding designs among these entries to have caught the eye of the judges.

As Hong Kong has long been recognised as a leading design centre in Asia Pacific, the HKDC was formed in 2001 to drive Hong Kong to become a highly competitive internationally recognised source of innovative products and design talent. The awards organised by the HKDC is deemed to be prestigious, with strong support from the Innovation and Technology Commission of the Hong Kong SAR Government.

Daka Designs Limited is one of the most celebrated award-winning design and development companies in Hong Kong. [+]

Inter-Roller Acquires 100% Stake In A UK Air-Cargo Systems Company, CDG Systems Limited

Established in the United Kingdom, CDG has strong technical capabilities and a track record for air-cargo handling systems in Western and Central Europe.

The net tangible asset value of CDG as at 30 September 2005 is approximately S$(622,971). Taking into account goodwill for the CDG brand name, its technical know-how, marketing network in Europe and net tangible asset value, the consideration was determined on a willing-buyer-willing-seller basis at approximately S$2,205,003. The acquisition was funded internally and was completed on 22 November 2005.

Air cargo transportation has been growing steadily and is forecast to grow at a faster pace in growing economies in Asia and Middle East. Leveraging on the strengths of CDG in air cargo handling systems, the acquisition of CDG will further strengthen the Group's competitive edge for air-cargo handling system projects internationally.

Inter-Roller Engineering Limited is an international engineering corporation listed on the Singapore Stock Exchange. [+]

Global Voice Announces Deals Worth In Excess Of € 2.3m

The deals announced are:
• A multi-year deal with Dresdner Bank AG subsidiary Visionapp GmbH. Visionapp will utilise GV's German data centres and network capabilities for the high-availability operations of its ASP and hosting offerings

• A contract for the provision of a combined IP, Co-location, and Dark Fiber solution to the investment arm of a major German financial institution.

• A contract to supply Smart Telecom PLC with Fast Ethernet (100 Mbps) access to IP Transit through GV's Dublin based metropolitan area fibre network.

• The deal with a global telecommunications player for the provision of optical fibre capacity between the Dutch cities of Rotterdam and Utrecht and redundant fibre connections within the city of Utrecht

• A contract to supply WuSys, a provider of outsourced services to the investment community in Frankfurt, with a resilient communications and a secure managed services platform for data management

• A contract with food retail trader REWE Large-Scale Consumer Service (GVS) to deliver hosting and managed services for the company's online platform. GV is responsible for providing a 24 x 7 managed solution. [+]

Sembawang Kimtrans Signs S$43.26 Million Contract With Banpu

Banpu's decision to commission another 6 units of the SPBs follows the proven performance of the prototype KIMTRANS SPB 3208, which was specially designed and engineered by SKL to meet the challenges of transporting coal from Banpu's coal mines from inland Kalimantan, Indonesia, to deep-sea coal terminals and anchorages for export.

Compared to conventional tug and barge sets, KIMTRANS SPB 3208 offers superior maneuverability and versatility when plying along the major coal transportation conduits of Mahakam and Barito rivers – where the waterways are tight, wingding, and with extreme tidal differences of up to 9 meters high.

Sembawang Kimtrans Ltd engages in the logistics business such as land transportation, multi-modal freight forwarding, heavy lift and haulage, warehousing, cargo consolidation and distribution, heavy vehicle parks, container freight stations and project and marine and mining logistics. [+]

Soilbuild Awarded Two Development Projects by JTC Corporation

The first tender is to develop and lease out a high-rise multi-tenanted facility at Changi Business Park Central 1 named Eightrium. The second is to develop and lease out or sell land-based food factories at Senoko Crescent - known as Senoko FoodHub.

Soilbuild emerged as the successful company following the Request-for-Proposal launched by JTC on 25 May 2005 and 18 August 2005 for Eightrium and Senoko FoodHub respectively. The awards are a testament to Soilbuild's expertise, innovation, experience and track record as a developer.

Soilbuild Group Holdings Ltd (Soilbuild) is a boutique residential property developer with supporting construction, and façade design and fabrication businesses. [+]

PEARL Energy Indonesia Update – Acquisition Of Sebana Limited

Sebana is a company incorporated in the British Virgin Islands and is wholly owned by Petroland. Sebana's primary asset is a 90% working interest in the Bulu Production Sharing Contract offshore East Java. Sebana is the operator of the Bulu PSC.

Under the terms of the Acquisition, PEARL will pay US$1.5 million to Petroland for Sebana and bear the cost of the bonus payment obligations to the Indonesian government required under the Bulu PSC, up to a maximum amount of US$3 million. In addition, PEARL will transfer 5% working interest in the Bulu PSC to PT Satria Wijaya Kusuma. SWK also will have the option to acquire an additional 5% working interest in the Bulu PSC from PEARL in the event of successful exploration.

In respect of the Bulu PSC, PEARL plans to undertake a 2,000 sq km 2D seismic acquisition program at the end of December and to drill up to two exploration wells in 2006.

PEARL is a Singapore-based oil and gas company engaged in the exploration, development and production of oil and gas exclusively in Southeast Asia. [+]

FerroChina Welcomes Vote Of Confidence From New Major Shareholder

The group welcomed an open market purchase of 14.73% of its share capital by institutional investor East Grand Management Ltd; 48.5 million shares were purchase at $0.34 per share.

The shares were sold by FerroChina's non-executive chairman, Mr Zhang Ye Dong, who has reduced his personal shareholding from 44.75% to 30.02%. Mr Zhang has been a major financial backer since the company was founded in 2002 and continues to hold a significant share in FerroChina. His chairmanship is on a non-executive basis and he does not hold a management position within the company.

The sale was prompted by Mr Zhang following a review of the future development requirements of FerroChina in conjunction with his personal investment portfolio. He is an active investor in wide ranging investments including agriculture, entertainment, property, restaurant and steel trading in China. Mr Zhang suggested that the time was right to reduce his major stake and provide the company with a better institutional investor mix as it moves into its next phase of development on the back of impressive financial results recently released for the 3Q2005.

Mr Lau Kay Keong, a director and shareholder of East Grand Management Limited, has held shares in FerroChina since 2004 as a pre-IPO investor and is familiar with the current management team and established business model that has proven to be a success.

FerroChina, a PRC-based company listed on the Main board of SGX-ST on 19May 2005, is a manufacturer of heavy gauge galvanised steel coils, with zinc concentration layers. [+]
 
Noble Group Honored With "Stars Of Asia" Award

Noble Group Limited, was honored by former US president George Bush Sr. in Beijing with a "Stars of Asia" award. CEO Richard Elman accepted it on the company's behalf. Chosen by international newsmagazine BusinessWeek, the 25 winners are leaders in various fields who personify the dynamism of Asia. They include agenda setters such as Indonesian President Susilo Bambang Yudhoyono, managers such as Katsuaki Watanabe, president of Toyota Motor, and innovators such as Chung Kook Hyun, chief design strategist at Samsung Electronics.

Noble Group Limited is a market leader in managing the global supply chain of agricultural, industrial and energy products.

Noble Group CEO Richard Elman accepting their award at the BusinessWeek "Stars of Asia" conference in Beijing last week from former US president George Bush Sr. [+]

Eu Yan Sang Strengthens Regional Presence Via Expansion Into Thailand

Eu Yan Sang International Ltd has signed a Distribution Agreement via the Group's Thailand subsidiary, Eu Yan Sang (Thailand) Ltd, with Oriental Paragon Co. Ltd, appointing OPCL as the distributor of certain EYS products in Thailand.

Currently, OPCL is the sole General Nutrition Centre franchisee in Thailand. A range of EYS products will be distributed through all the GNC stores operated by OPCL and the products are expected to hit the shelves by early January 2006.

Eu Yan Sang International Ltd is a global healthcare group with core focus in Traditional Chinese Medicine ("TCM"). [+]

Mentor Media Joint Venture Agreement With Hebei Zhengyuan Packaging Group Co., Ltd

The JV Co will be incorporated in Tianjin, People's Republic of China with a registered share capital of US$1 million. Under the terms of the Joint Venture Agreement, Mentor Media Ltd and Hebei Zhengyuan Packaging Group Co., Ltd will have shareholdings in the JV Co in the proportion of 49% and 51% respectively.

The principal activities of the JV Co include, among other things, the provision of supply chain management and integrated outsourcing services in the telecommunications industry.

Mentor Media is today a leading provider of integrated, value-added outsourcing and customised manufacturing services. [+]

Joint Venture To Expand Business Activities To North America


KS Energy Services Limited has entered into a 50:50 joint venture with Ezra Holdings Limited to take up a 25% interest in KSES (USA) Inc, a company operating offshore related assets to provide marine and offshore services to support the offshore drilling operations of international oil companies in North America.

The joint venture will enable the Company to establish a presence and expand its operations geographically to North America.

KS Energy is an energy services group catering to the oil & gas, marine and petrochemical industries worldwide.

Ezra Holdings is an offshore support and marine services provider supporting the offshore oil and gas industry, mainly in South East Asia. [+]

Medi-Flex Completion Of Expansion Programme At Second Plant

Currently, the construction of the new cleanroom is completed and approximately 40% of the total auxiliary equipment required has been installed. The facility is already undergoing qualification by customers in line with standard industry procedures. Its operating capacity will be progressively scaled up in tandem with the progressive installation of the remaining supporting equipment from now through to 1Q FY06. In the interim period, the Company will maximise its order intake for cleanroom gloves with the balance capacity of its new dipping lines expected to be utilised by the production of medical gloves that do not require the cleanroom facility.

In addition, the new biomass boiler installed at the Banting plant by Greenview Properties Sdn Bhd under a heat supply agreement has been put into full operation from 4Q FY05 to generate steam for its glove production process. The use of this boiler will help to partially limit any exposure from further spikes in oil prices.

Medi-Flex Limited specialises in the manufacture of premium cleanroom and medical disposable latex and nitrile gloves. [+]

Trek 2000 And Innova Card Partners To Enhance the Performance Of The Biometric USB Storage Devices

Innova Card's solutions will be integrated into Trek's ThumbDrive® devices providing an added layer of security and increasing the performance of these devices. Embedded in Innova Card's USIP® Professional platform is a highly secure 32-bit RISC processor (MIPS32® 4KSd™) from MIPS® Technologies.

Inbuilt into the processor is an extensive set of patented security and cryptographic features that will further enhance the performance of Trek's current compression algorithm. For improved cryptographic performance an AES crypto processor is incorporated into the USIP® Crypto Interface. The AES processor (based on the NIST FIPS-197 standard) will have the ability to secure data exchanges with external memories by means of on-the-fly encryption mechanisms.

Equipped with Trek's Software Development Kit (SDK), developers will now have the ability to create software applications that will interface with Trek's ThumbDrive® devices. This added capability is realized through the increased competencies provided by the embedded software layers and internal memories that are available in the USIP® Professional IC. This new technology provides developers the capability to develop and load embedded applications (Java GP/STIP or Linux) into the USB device to implement higher levels of security protection.

Once combined, the ThumbDrive® technology and the advanced USIP® Professional platform together create a unique solution that brings improved affordability, security and efficiency aimed at addressing the needs of personal and professional applications.

Trek 2000 International Ltd, an industry leader, innovator and patent owner of the ThumbDrive® (i.e. USB flash Drive) offers state-of-the-art design solutions ranging from portable storage devices, Digital technology, wireless, and encryption to sophisticated Enterprise solutions all catering to the fast changing digital industry. [+]

Darco-Led Joint Bid Clinches NT$1.66B (S$84M) Municipal Wastewater Contract In Taiwan

The contract awarded by the Taiwan Interior Ministry involves the construction of 30,000 m3/day wastewater in a new Water Recovery System for Hsin Chu City's Ker-Ya Municipal Water Resources Recovery Centre. Located 80km southwest of Taipei, Hsin Chu City houses over 300 high-tech companies and is commonly known as the ‘Silicon Valley' of Taiwan.

For Darco, included in this contract, is a five-year operation and maintenance contract worth S$8.75 million.

Darco's joint partner in the project is Leader Construction Co Ltd which is a member of Lealea Group in Taiwan. Listed on the Taiwan Stock Exchange, Lealea Group is involved in construction, information technology, synthetic fibre and textile related businesses.

Darco is a leading provider of integrated engineering and knowledge-based solutions for water and wastewater treatment. [+]

PEARL Secures Rig For Sebuku Exploration/Appraisal Drilling

PEARL Energy Limited has secured, in alliance with Chevron Indonesia Company, the jack-up rig, Shelf Explorer, from PT. TransOcean Indonesia for a three-well exploration and appraisal drilling program on the Sebuku Production Sharing Contract in the Makassar Straits to the east of Kalimantan in Indonesia.

The 75-day program to drill one appraisal well and two exploration wells will commence in late December 2005 or early January 2006. Once the program is completed, the rig will be released to Chevron.

PEARL is a Singapore-based oil and gas company engaged in the exploration, development and production of oil and gas exclusively in Southeast Asia. [+]

Sunpower: Investment Project Land Contract Entered Into Between The Company's Subsidiary, Nanjing Shengnuo Heat Pipe Co., Ltd, And Nanjing Chemical Industrial Park Public Utility Co., Ltd.

The contract is for the lease of a piece of land with a total area of 56,700 square meters for a total consideration of RMB 7,055,000. The lease is for a period of 50 years.

The Group intends to set up new manufacturing facilities on the land for the production of heat pipes and heat pipe exchangers. The Group expects construction work to commence in June 2006 and the new manufacturing facilities to commence operations in June 2007.

Sunpower specialise in the design, R&D as well as manufacture of customised energy saving and environmental protection products with heat transfer technologies. [+]



CEO's Walk The Talk

"..Our expansion into Thailand early next year enables us to strengthen our regional presence and more significantly, represents another step forward in realizing our vision to be a global consumer healthcare company with a focus on Traditional Chinese Medicine and Integrative Healthcare..."
Mr. Richard Eu
Chief Executive Officer
Eu Yan Sang


Highlighted Company

Fu Yu Corporation Limited is now one of the largest manufacturers and suppliers of high-precision injection moulds and plastic parts in Asia. With overseas operations and plants in Malaysia and China, this operating network has allowed the Group to cater to its rapidly expanding customer base. The key markets that we serve include the information technology, telecomunications, automotive, medical, electronics and electrical applicance sectors.

History
The four founders, Mr Lui Choon Hay, Mr Ching Heng Yang, Mr Tam Wai and Mr Ho Nee Kit formed a partnership called Fu Yu Manufacturing Factory in August 1978 to manufacture plastic injection moulds. Business was first operated from a small rented factory in Paya Lebar with about 10 employees. In 1979, the partnership capitalized on the growing trend for plastic injection moulding work to be sub-contracted out by multinationals and large local corporations by extending its operations from solely mould-fabrication to include plastic injection moulding.

As the size of the operations increased, the four partners incorporated a company, Fu Yu Manufacturing Factory Pte Ltd on 10th December 1980 to take over the business of the partnership. Recognizing the opportunity for further forward integration, the Company extended its operations in 1985 to silk-screening, pad printing, ultra-sonic welding, heatstaking, spray printing and sub-assembly.

The Company developed and was listed on the Mainboard of the Singapore Exchange Securities Trading Limited on 14 June 1995.































Historical Price Data
 Date Open High Low Close
Volume  
 25 Nov 2005 0.485 0.505 0.480 0.500
1,819,000
 24 Nov 2005 0.490 0.490 0.480 0.485
352,000
 23 Nov 2005 0.475 0.485 0.475 0.485
427,000
 22 Nov 2005 0.475 0.475 0.470 0.475
346,000
 21 Nov 2005 0.485
0.485 0.470 0.475
311,000

Fundamentals
EPS ($) *
0.12246
NAV ($) **
0.5351
Dividend ($) ****
0.016000
PE
4.205
Price / NAV **
0.962
Dividend Yield (%) ****
3.107
Market Cap (M)
305.526
Par Value ($)
SGD 0.100
Issued & Paid-up Shares ***
593,255,000
52 Weeks High
0.856
52 Weeks Low
0.425
 
* Based on latest Full Year Results Announcement
** Based on latest Results Announcement (Full Year, Half Year or Interim)
*** Rounded to the nearest thousand. Updated on 28/10/2005. Please click here for more information.
**** Dividend is based on latest Full Year Results Announcement and excludes special dividend

Newsroom
22 Nov 2005 Increased In Paid-Up Capital Of Fu Yu Moulding & Tooling (Wujiang) Co. Ltd
27 Oct 2005 Announcement By Fu Yu Corporation's Subsidiary, LCTH Corporation Berhad - 3rd Quarter Results Ended 30 September 2005
27 Oct 2005 Third Quarter Financial Statement And Dividend Announcement
21 Oct 2005 Third Quarter Results For The Period Ended 30 September 2005
30 Sep 2005 Increase In Paid-Up Capital Of Qingdao Fu Qiang Electronics Co. Ltd



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