16 January 2006      
Volume `000 
 Japan Land
 SKY Petrol
Weekly movement as at 13 January 2006
 SIA JP eCW060220
 Jardine C&C
 Shang Asia 2kHK$
 Sp Land
Weekly movement as at 13 January 2006

ST Engg: 2005 Net Profit Up 12% To $396.3 Million
OCBC: Buy 12.2% Stake In Ningbo Commercial Bank For
570 Million Yuan
ASTI: To Issue Up To 236.1 Million New Shares In Take Over
Bid Of Flextech
PSA: Makes S$10 Billion Counter Bid For P&O
Singtel: Optus Pays A$30 Million To Acquire Remaining 74.15%
Of Virgin Mobile

A-Sonic: Raised Stake In Airocean To 10.17%
SGX: 2Q Net Profit Up 43% To $37 Million
Sim Lian: $82.2 Million Bid For Tampines Site To Build HDB
Flats Highest
Sin Soon Huat: Cast Eye On Projects In Singapore’s Oil &
Gas Industry
PSA: Cargo Volume Jumps 24% To 41.18 Million TEU
SGX: Signs MOU With Shandong Development &
Reform Commission Office
HOT Off The Press

OKP Kicks Off 2006 With USD8.7 Million Contract To Build Rota International Airport Runway

Wholly-owned subsidiary company OKP (CNMI) Corporation has been awarded a USD8,677,000 contract to build an airport runway at the Rota International Airport, located in the Commonwealth of the Northern Mariana Islands.

The Commonwealth Ports Authority awarded the contract after considering OKP’s overall expertise, strength and established track record. The project is expected to commence on 16 January 2006 and be completed by 10 January 2007. It involves the building of 1,000 feet of extension runway at Rota International Airport, turnaround at both ends of the runway and other related earth works.

In 2004/2005, the Group had initiated a feasibility study to research and access the business opportunities in the CNMI. Shortly in June 2005, OKP incorporated OKPCNMI in Saipan, CNMI to establish the Group’s infrastructure construction and building-related businesses in the CNMI. The incorporation of OKPCNMI presents a strategic platform for OKP to expand their business geographically and allows the Group to partake in the future growth activities in the CNMI. This project will open the gates for the Group to enter into developing places in Micronesia.

OKP has two core business segments, Road & Building Construction and Road Maintenance. [+]

COSCO Increase In Registered Capital Of Principal Subsidiary, Cosco Shipyard (Group) Co., Ltd

Based on exchange rate as at 5 January 2006 quoted by the Bank of China, Singapore Branch, total capital contribution by the Company in Singapore Dollar equivalent is SGD 78,412,500.00.

CSG is a joint venture company between the Company, Tianjin Ocean Shipping Co., Ltd, Guangzhou Ocean Shipping Co., Ltd, Shanghai Ocean Shipping Co., Ltd and SembCorp Marine Limited.

CSG is a leading company in the PRC specializing in ship repair and conversion service. It has altogether 10 subsidiaries and shipyards of high standards of quality and reliability all strategically located in the most important sites along China’s coastal line like Nantong, Dalian, Guangzhou, Shanghai, Xiamen, Tianjin and Zhoushan. To this end, 3 of CSG’s shipyards have achieved ISO9002 or ISO9001:2000 Quality Management Certification for their operations.

COSCO Corporation has three core businesses, embracing ship repair and marine engineering, dry bulk shipping and shipping agency. [+]

Petrochemical Experts Endorse Sunpower's Energy Recovery System

The appraisal was conducted on the waste gas recovery system which Sunpower designed and built for SINOPEC subsidiary, SINOPEC Yangzi Petrochemical Co Ltd. During the appraisal, the experts concluded that by installing Sunpower’s waste gas recovery system, SINOPEC Yangzi has saved up to RMB 127 million per year. Petrochemical experts from SINOPEC and China’s environmental protection institutions have recommended that Sunpower’s system be used across PRC’s petrochemical industry.

The Torch Gas Recovery System was developed by Sunpower’s fully-owned subsidiary, Jiangsu Sunpower Techonolgy Co., Ltd. By separating waste gas into its natural gaseous components, Sunpower converts toxic waste gas emitted by petrochemical plants into useful industrial gases, recovering large amounts of energy in petrochemical plants that would otherwise have been wasted and reduces pollution of the natural atmosphere.

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

ChinaCast Expands Higher Education E-Learning Business With Shanghai Tongji University

ChinaCast and Tongji University hope to recruit over 20,000 students located at 18 remote campuses over a three year period. The initial remote campuses will be located in Beijing, Anhui, Guangzhou and Nanjing and will offer both degree and diploma level courses such as business management, project management, logistics, information systems, graphic design as well as language courses such as English and Japanese.

Tongji University is one of 68 universities approved by the Ministry of Education to provide distance learning degree courses under an ambitious government funded project to develop 100 world class higher education institutions in the PRC in the 21st century.

ChinaCast provides satellite-based broadband e-learning services and content to educational institutions, government agencies and Fortune 500 enterprises and is the PRC’s leading satellite distance learning services group. [+]

Rowsley Launch Of Digital Mongolia Lottery In Ulaanbaatar, Mongolia

Rowsley Ltd lifestyle and entertainment business "a scratch lottery" will be launched on Saturday, 21 January 2006 in Ulaanbaatar, capital city of Mongolia.

The scratch lottery is named Digital Mongolia Lottery.

Digital Mongolia Lottery is a product of DSM Co Ltd, a joint venture company incorporated in Ulaanbaatar, Mongolia and established between Rowsley Investments Pte Ltd and Mongolian individuals. DSM Co Ltd is a subsidiary of Rowsley Investments Pte Ltd which in turn is a wholly-owned subsidiary of Rowsley Ltd.

Han Tsi Fung, a veteran of the lottery and sports betting business, spearheads the Mongolian project. Han served as CEO of Singapore Pools for 16 years before retiring in 2002.

Rowsley's core business is in investments, investment holding, strategic investments and other related activities. [+]

MultiVision Acquisition Of 80% Of Trade Express Services Limited

MultiVision Intelligent Surveillance Limited has signed an agreement to acquire 80% of the equity of Trade Express Services Limited from Hu Zhi Jiang, for a consideration of HK$7.3 million, which is to be paid in cash.

Trade Express is an investment holding company incorporated in the British Virgin Islands. It owns approximately 7.5% equity interest in Beijing Telenet Information Technology Limited ("BTI"), which is a Chinese company. BTI is one of the dominant suppliers of point-of-sale ("POS") systems for the sports lottery operations in China.

Trade Express, which holds 7.5% of BTI, has a book value of HK$1.5 million as at 31 December 2005.

MultiVision is a technology-based company principally engaged in the provision of security related services, such as video surveillance services, and the manufacture of other security and private network devices, such as smart ID card devices and lottery point-of-sale terminals. [+]

A-REIT’s 3Q FY 2005/06 Distributable Income Of 3.01 Cents Per Unit, 25% Above Prior Corresponding Period

• 3Q FY 2005/06 distributable income of 3.01 cents per unit is 25% above prior corresponding period 3Q FY 2004/05 of 2.40 cents.

• Net property income of S$46.3 million is 92% above prior corresponding period of S$24.2 million.

• Gross revenue of S$61.2 million is 82% above prior corresponding period of S$33.6 million.

• Distribution per unit of 0.12 cents has been paid in November 2005 and the remaining 2.89 cents will be paid on 24 February 2006.

A-REIT is the first business space and light industrial real estate investment trust listed on the SGX-ST. [+]

A-REIT Leased Or Renewed 52,868 Sqm Of Space Representing S$10.5 Million Annualised Rental Income

Ascendas Real Estate Investment Trust has renewed and signed new leases amounting to a total net lettable area of 52,868 sqm in the three months ended 31 December 2005. These leases represent 8.3% of the net lettable area of its multi-tenanted buildings and an annualised rental income of S$10.5 million for A-REIT.

Compared to previous 2 quarters, there is a significant increase in the figures in this quarter due to several new leases and the renewal of a substantial amount of space by Venture Corporation Ltd and National Library Board.

A-REIT is the first business space and light industrial real estate investment trust listed on the SGX-ST. [+]

MultiVision Announces New Management Team

Mr. Paul Gao has been named the new CEO, responsible for executing the Group’s business strategy and the overall management of the Group’s operations and sales. Mr. Gao had been the Group’s CFO since joining MultiVision in 2003 and has more than 10 years’ experience in finance and accounting management.

As COO, Mr. Eddy Tso will be responsible for the operations of the Group, including developing new business opportunities. Mr. Tso has over 27 years’ experience in the technology industry and was most recently the General Manager of Datacraft China/Hong Kong, responsible for its operations and business development in the Hong Kong market.

As CFO, Ms. Shelly Yau will oversee finance, accounting and corporate secretarial functions of the Company. She has over 10 years’ experience in the finance and accounting sector and was most recently a Senior Accountant with Franklin Templeton Investments (Asia) Ltd.

MultiVision is a technology-based company principally engaged in the provision of security related services, such as video surveillance services, and the manufacture of other security and private network devices, such as smart ID card devices and lottery point-of-sale terminals. [+]

Sinwa Listing Of Shares On The Main Board Of The Singapore Exchange Securities Trading Limited

Sinwa Limited will be listing the shares of the Company on the Main Board of the Singapore Exchange Securities Trading Limited with effect from 9 a.m. on 13 January 2006.

The Company will be listed and quoted on the official list of the Main Board of SGX under the name "Sinwa" and cease to be quoted on the official list of the Stock Exchange of Singapore Dealing and Automated Quotation System with effect from 13 January 2006.

Sinwa Limited is a regional marine supply and logistics company servicing the oil and gas industry as well as sea-going vessels in Singapore, United Arab Emirates (UAE), the PRC and Timor Leste. [+]

Noble Sets Standard Receives ISO Status In South America

Noble Argentina S.A., wholly-owned subsidiary of Noble Group, has been awarded ISO 9001:2000 certification by BVQI, the worldwide leader in certification services, for its high standards in reception, storage and loading of grains and oil seeds in bulk through it’s Lima Port.

Noble Argentina has recently extended its long term lease with "exclusivity of use" of Lima Port which began in 2001. Located in the heart of the grain belt, this private terminal is strategically situated 100 km north of Buenos Aires over the Parana River at the southernmost point of the "Upriver" area. This tactical location minimizes the cost of land and sea transportation.

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

C & O Pharmaceutical Acquisition Of 5% Equity Interest In A Subsidiary

C & O Pharmaceutical Technology (Holdings) Limited has acquired the remaining 5% equity interest in its 95% owned subsidiary, Nanjing Changao Pharmaceutical Science & Technology Co., Ltd, at the consideration of RMB686,600.

As a fast-developing pharmaceutical company, C&O is committed to making continuous investment in research and development of pharmaceutical products. At present, all the research and development of the Company is conducted through Nanjing Changao R&D. Making Nanjing Changao R&D a wholly-owned subsidiary of the Company will make the structure of the Group more complete.

C & O engages in the pharmaceutical business in the PRC. [+]

Multi-Con Subscription Of New Shares In The Capital Of Sincam Water Technology Co., Ltd

The Company’s subsidiary, New Con Pte Ltd. has increased its shareholding in Sincam Water Technology Co. Ltd. by the subscription of 190,000 ordinary shares of Riels 20,000 each for cash at par. The subscription amount of Riels 3,800,000,000 was satisfied by the capitalization of an equal amount of loan due from SWTCL to New Con Pte. Ltd.

Subsequent to the above transaction, New Con Pte. Ltd.’s shareholding in SWTCL increases from 65% to 80.5% of SWTCL.

The loan to SWTCL was used to finance the construction of the water treatment plants under the "Design-Build-Operate" contracts and for working capital purposes.

Multi-Con is a specialist engineering group which focuses on niche areas such as ground engineering, structural engineering, civil engineering and infrastructure works. [+]

CNA Group Wins Changi Airport IBMS Maintenance Contract

CNA Group Ltd. secured a prestigious S$5.25 million contract to operate and maintain the Intelligent Building Management Systems for Changi Airport Terminals 1, 2 and 3.

Civil Aviation Authority of Singapore has awarded CNA the maintenance contract for an initial four years from January 2006 till December 2009 with an option to renew every two years, for up to a maximum of 20 years until 2026.

CNA Group Ltd. is an award-winning specialist in the provision, design, implementation and maintenance of advanced integrated control and automation systems and IT solutions that enable intelligent buildings and facilities. [+]

Shanghai Turbo, The First Debut On SGX In 2006, Receives Strong Market Interest

Shanghai Turbo’s placement offer of 65.0 million placement shares were fully taken up, save for the invalid applications in respect of 7,000 Placement Shares. Retail investors in Singapore echoed the strong institutional demand. As at the close of the IPO at 12:00 noon on 12 January 2006, 4,805 valid applications were received for the 5.0 million offer shares made available to public for subscription at S$0.28 for each Offer Share. In total, these applicants applied for 292,939,000 Offer Shares, with application monies received amounting to approximately S$82.0 million.

Based on the total invitation size of 70.0 million New Shares and the total valid applications received for both Offer Shares and Placement Shares, the IPO was approximately 5.1 times subscribed.

Shanghai Turbo is a precision engineering group that specialises in the production of precision vane products which are key components of steam turbine generators used for power generation in power plants, power stations and/or sub-stations. [+]

CEO's Walk The Talk

"..Notwithstanding our aim to further establish our presence overseas, we remain prudent in assessing the projects offered and will only consider projects that are commercially viable and profitable. We will also continue to ride on our strengths at home..."
Mr Or Toh Wat
Group Managing Director
OKP Holdings Limited

Highlighted Company

OKP Holdings Limited ('OKP') is involved in the construction and maintenance of roads in Singapore. The Company has four subsidiary companies namely Or Kim Peow Contractors (Private) Limited, Eng Lam Contractors Co (Pte) Ltd, OKP Technical Management Pte. Ltd. and OKP Investments (China) Pte Ltd.

Incorporated in Singapore on 15 February 2002 as an investment holding company and subsequently listed on the Singapore Exchange of Singapore Dealing and Automated Quotation System ('SESDAQ') on 26 July 2002, OKP was established in 1966 by Founder and Chairman, Mr Or Kim Peow, PBM.

The Group has two core business segments, Road Construction and Road Maintenance. It mainly tenders for government civil engineering and infrastructure construction projects, which involve the construction of urban and arterial roads, expressways, vehicular bridges and flyovers, as well as the maintenance of roads and road-related facilities.

Presently, OKP's clientele is mainly from the public sector that includes the Land Transport Authority ('LTA'), the Housing Development Board ('HDB'), the Jurong Town Corporation ('JTC'), the Defence Science and Technology Agency ('DSTA'), the Civil Aviation Authority of Singapore ('CAAS') and the Public Utilities Board ('PUB').

OKP intends to explore the road construction and maintenance business from larger emerging markets such as China, India and Cambodia through adopting a prudent approach in forming strategic alliances with local partners.

Historical Price Data
 Date Open High Low Close
 13 Jan 2006
 12 Jan 2006 - - - -
 11 Jan 2006 - - - -
 09 Jan 2006
 06 Jan 2006 - - - -

EPS ($) *
NAV ($) **
Dividend ($) ****
Price / NAV **
Dividend Yield (%) ****
Market Cap (M)
Par Value ($)
SGD 0.100
Issued & Paid-up Shares ***
52 Weeks High
52 Weeks Low
* 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 02/03/2005. Please click here for more information.
**** Dividend is based on latest Full Year Results Announcement and excludes special dividend

12 Jan 2006 Award Of Tender
09 Jan 2006 Resignation Of Company Secretary
27 Dec 2005 De-registration Of Dormant Associated Company
27 Sep 2005 Award Of Tender
09 Sep 2005 Award Of Tender

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