23 January 2006      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
 SKY Petrol
148,326 
 Sing Tel
140,702 
 China Sun
125,121 
 Celestial
121,423 
 GlobalVoice
118,222 
Weekly movement as at 20 January 2006
WEEK'S TOP GAINER
 Name
Price  
Chg 
 KepCorp
13.000 
+0.900
 SIA
13.400 
+0.400
 SIA 200
13.300 
+0.300
 KS Energy
2.520 
+0.240
 WBL Corp
5.700 
+0.200
Weekly movement as at 20 January 2006

 
HEADLINES FOR THE WEEK
OCBC: Up Stake In Great Eastern To 82.9% Via New Share Issue
Frontline: Exercise Call Option To Increase Stake In India’s Accel Frontline To 51%
M1: Trials New Wireless Broadband Access Technology
Keppel: Bid For Brazilian Contracts To Build US$1.3 Billion Oil & Gas Tankers
M1: 4Q 05 Net Profit Up 21.3% To $37 Million
Far East: Highest Bidder For Glutton’s Square Site In Somerset With $421.1 Million Bid


YHI: Richard Tay Sold 2 Million Shares At A Discount To Reward Staff
Sp Ship: Hives Off Logistics Business
Keppel: FELS Delivers Rig Ahead Of Schedule To Ensco
Mapletree Log: Raised $111.3 Million Thru Private Placement
M1: Partners SIA To Offer KrisFlyer Miles Via SunPerks Programme
Far East: Buys Katong’s Privatised HUDC Estate Amberville For
$183 Million
Mapletree Log: To Buy $500 Million Of Assets Over The Next
6 Months
 
HOT Off The Press

Pacific Andes Proposed Listing Of Subsidiary, China Fishery Group Limited

China Fishery Group Limited offering will comprise 57 million new shares, priced at S$1.25 per share, of which 1 million shares are to be issued to the public, and the balance 56 million shares to be classed under the placement tranche. No vendor shares will be offered in this issue.

The invitation, which represents 15.7% of CFGL’s enlarged issued share capital of 362,040,000 shares, is being offered at a historical price-to-earnings ratio of 12.82 times, derived from the Group’s net earnings for FY2004 and a pre-dilution share capital of 305,040,000 shares.

Applications for subscription of CFGL’s shares open on 16 January 2006, Monday, and will close at 12 noon on 23 January 2006, Monday. Trading on the SGX-ST Mainboard will commence on 25 January 2006, Wednesday.

Pacific Andes (Holdings) Limited, headquartered in Asia, is primarily involved in global sourcing, the transportation and supply of frozen seafood products to the international market, as well as the provision of the shipping and agency services to suppliers’ fishing fleets. [+]

Zhonghui Secures RMB180 Million BOT Project In Linfen City, Shanxi Province, PRC

Wholly owned subsidiary, Shaanxi Zhonghui Environmental Conservation Co., Ltd., has secured a RMB180 million project to provide consultancy services and to design, build, install and operate a 1200 tons/day integrated municipal solid waste treatment plant in Linfen City, Shanxi Province.

The BOT project in Linfen City is the Group’s first project in Shanxi Province, marking its geographic expansion into the Shanxi Province.

The BOT project will be for a period of 25 years, including the period required for construction. With a treatment capacity of 1200 tons/day and investment value of RMB180 million, this contract is the Group’s largest project to date.

Zhonghui is the PRC’s leading integrated solid waste management croup and the only local group with the capabilities to provide both incineration and fermentation processes. [+]

A-REIT’s Proposed Acquisition Of Property Under Development At Plot 23 International Business Park For S$20.0 Million

Ascendas-MGM Funds Management Limited has identified a property under development at Plot 23 International Business Park for acquisition by A-REIT at a purchase price of S$20.0 million. The vendor of the Property under development is LabOne Singapore Pte Ltd.

HSBC Institutional Trust Services (Singapore) Limited, as trustee of A-REIT, has entered into a conditional put and call option agreement with LabOne S’pore on 25 October 2005.

The property under development is located at Plot 23 International Business Park. It will be a 7-storey business park building with a single-storey lab and basement car park. It is expected to have a gross floor area of 10,116 sqm, and is situated on land area of 7,277 sqm. The land is on leasehold title of 30 years which expires on 14 July 2034 with an option for a further 30 years.

A-REIT is the first business space and light industrial real estate investment trust listed on the Singapore Exchange Securities Trading Limited. [+]

Meghmani Boosts Agrochemicals
Production Capacity At Ankleshwar Plant

Meghmani Organics Limited new facility at its Ankleshwar plant has since 1 January 2006 commenced production of Cypermethric Acid Chloride, a key raw material for certain insecticides which the company manufactures.

The successful commercial production of CMAC by this latest plant follows the successful completion of trial production, which was undertaken over a period of two months.

With this latest corporate development, the Group’s total production capacity of CMAC is augmented by more than two-fold, to 1,750 tonnes per year.

CMAC is used in the manufacture of a variety of pesticides such as Cypermethrin, Alpha Cypermethrin, Permethrin and Deltamethrin.

Meghmani is a manufacturer of pigments and pesticides. [+]

JEL Secures Major Distributorships From IBM And Sime Darby

JEL Corporation (Middle East) Pte Ltd, a wholly-owned subsidiary, has recently been appointed by IBM, as the authorised distributor for Kazakhstan, Uzbekistan, Turkmenistan, Kyrgistan, Tajikistan and Azerbaijan.

JEL Corporation (Far East) Pte Ltd, another wholly-owned subsidiary, has recently been appointed by Sime Darby Edible Products Limited, as the authorised distributor for Vietnam.

IBM specializes in delivering on demand solutions through various business segments including hardware, software, services, financing, research and technology.

Sime Darby Edible Products Limited, a wholly-owned subsidiary of the Sime Darby Group, is a well known leading producer of edible oils and fats.

JEL Corporation (Holdings) Ltd is a Company listed on the main-board of the Stock Exchange of Singapore, with principal activities being the distribution and trading of photographic, consumer electronic, IT and telecommunication products, and fast-moving consumer goods, with international networks spanning Asia, Middle East, Africa and the Americas. [+]

FerroChina Proposes To Acquire 35.45% Of Steel Processor For US$30.24 Million

FerroChina Limited has entered into a conditional sale and purchase agreement with a number of private parties to acquire approximately 35.45% stake in Superb Team Ltd for US$30.24 million.

Superb Team is currently in the process of issuing 30 million redeemable cumulative convertible preference shares of par value US$0.10 each, convertible into ordinary shares within 3 years from the date of issue. On full conversion, FerroChina’s stake in Superb Team will be diluted to approximately 25.02%.

Superb Team wholly owns Changshu Everbright Material Technology Co., Ltd which is engaged in the business of manufacturing of thin gauge galvanized steel coils in Changshu City, in Jiangsu Province, the same city as FerroChina.

FerroChina is a manufacturer of heavy gauge galvanised steel coils, with zinc concentration layers. [+]

Boustead Subsidiary Secures S$11.5 Million Contract In South East Asia

90%-owned subsidiary, Boustead International Heaters, has been awarded a large contract valued at S$11.5 million in South East Asia. The contract is expected to be completed within the next financial year ending 31 March 2007.

Against formidable global competitors, BIH secured the contract to design and supply a waste heat recovery system to be utilised on the back end of a reformer furnace within a mega methanol project in South East Asia.

Boustead Singapore is a progressive global Engineering Services & Geo-Spatial Technology Group with transnational operations. [+]

MultiVision's Associate China-Vision Secures RMB30 Million Contract

China-Vision Intelligent Card Reader Co. Limited has secured a RMB30 million contract to supply 2,000 image capturing systems to security bureaus in five provinces in China.

China-Vision, in which MultiVision purchased a 24% indirect stake in March 2005, is a leading developer and manufacturer of RFID and contactless smart card readers in China. As one of 13 manufacturers certified by China’s Public Security Bureau to provide image capturing equipment for the nation’s second-generation identification card project, China-Vision has a potential customer base of 800 million Chinese 2GID Card holders and the companies which serve them.

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

Rowsley Launch Of Digital Mongolia Lottery In Ulaanbaatar, Mongolia

Rowsley has launched its scratch lottery business in Ulaanbaatar, Mongolia at the Ikh Mongol, an upmarket entertainment place frequented by the who's who in Ulaanbaatar.

The launch ceremony started with the official announcement of the launch of Digital Mongolia Lottery, the name of the scratch lottery business. This was followed by the introduction of distributor organizations which had signed up to distribute the scratch lottery tickets.

The distributor organizations of Digital Mongolia Lottery are Mongol Post, the national postal agency; APU Trade and APU Impex, both together the largest distributor of vodka, beer and water in Mongolia; MTS, a major distributor of vodka; Monos Pharmacy, a major pharmacy chain and Bishrelt, a major wholesaler. In total, there will be 200 points of sale in Ulaanbaatar and in provincial centres of Mongolia.

Rowsley primary business activity is in investments, investment holding, strategic investments and other related activities. [+]
 

Bio-Treat Raises S$206 Million Through Issuance Of Convertible Bonds

Citigroup Global Markets Singapore Pte. Ltd. was appointed the placement agent for this convertible bonds issue.

The convertible bonds are zero coupon bonds that have a tenure of 7 years and are convertible into Bio-Treat’s ordinary shares at a premium of approximately 9% to Bio-Treat’s closing price of S$1.19 as at 13 January 2006.

Bio-Treat Technology Limited is one of the PRC’s leading companies in the development and application of biotechnology for the treatment of waste and wastewater. [+]

Technics Oil & Gas Limted Secures S$13.8 Million Gas Compressor Contract For New Zealand FPSO

Wholly owned subsidiary company, Technics Offshore Engineering Pte Ltd, has secured a S$13.8 million contract from Norwegian company, Prosafe, for the supply of gas compression modules for its TUI FPSO project in New Zealand.

The order from Prosafe consists of 3 compression modules which will be installed onboard a floating, production , storage and off-loading vessel for the gas vapour recovery , gas booster and gas lift applications. The gas compression modules will be delivered in November 2006 ex-works.

Technics Oil & Gas Limited provides a comprehensive range of process equipment, including gas compression packages, and support services to the Oil & Gas industry in Asia Pacific. [+]

Sunpower Secures New Major Customer With New Product Line

Sunpower Group Ltd. has clinched a total of RMB49.9 million worth of orders from Guangxi Huiyuan Manganese Industry Co., Ltd.

The entire sum of RMB49.9 million from Guangxi Huiyuan’s orders will go into Sunpower’s revenue for the financial year ending 31 December 2006, and it brings Sunpower’s total order book to-date to RMB 235.6 million.

The orders are for the manufacture and supply of ripple titanium anode plate facilities to Guangxi Huiyuan. These plate facilities are used in the manufacture of electrolysis manganese dioxide, which is in turn used to make batteries. Guangxi Huiyuan is a member of the Guangxi Investment Group Co Ltd which has a registered capital of RMB 4.2 billion.

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

Econ Healthcare Signs Principle Point Of
Agreement With Liaoyang City Government

The potential partners in this PPA are Liaoyang No. 3 Hospital, Tang He Hot Spring Retiree Nursing Home and Liaoyang Traditional Chinese Medicine School.

Liaoyang No. 3 Hospital was established in 1982, starting out as a specialist hospital. It was converted into a general hospital in 1986 with 550 beds, 15 clinical specialists and 40 divisions.

Tang He Hot Spring Retiree Nursing Home is located near a scenic spot in Liaoyang City renowned for its natural and unique spring which is endowed with rich mineral resources.

Liaoyang TCM School is equipped with modern teaching facilities such as multi-media classrooms, language labs, computer rooms and electronic reading rooms.

Econ Healthcare Group has 5 nursing homes and 2 Medicare Centres in Singapore. [+]

Ezra Orders Two Deepwater AHTS For S$65.3 Million

Whollyowned subsidiary, Lewek Shipping Pte Ltd has ordered two new deepwater-equipped multi-purpose anchor handling, towing and supply vessels for S$65.3 million, excluding the cost of certain owner furnished equipment.

The two 70-metre 12,000 brake horsepower AHTS will be Ezra’s first two vessels for delivery in financial year ending 31 August 2008. The contract has been awarded to Pan-United Marine Limited.

In FY2007, Ezra will also be taking delivery of nine new vessels comprising two anchor handling tugs, six AHTS and a Heavy Lift Accommodation Pipelay Vessel.

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

Eco Water Joint Venture Agreement With Koastal Industries Pte Ltd

Eco Water Limited joint venture with Koastal Industries Pte Ltd was established on 28 December 2005 under the name "Koastal Eco Industries Co., Ltd." with its head office located at 134 Khu E, Binh Trung Tay Ward, District 2, Ho Chi Minh city.

Koastal Eco Industries Co., Ltd has on 10 January 2006 been awarded a contract to provide technical services for the treatment of waste water system for Long Thanh Rubber Factory with a total value of 10,199,681.935 Vietnamese Dong equivalent to approximately S$1,054,810.

Eco Water is a specialist system provider of sewage and industrial wastewater treatment. [+]

Inter-Roller Notches Up Contract Wins in Thailand And The United Kingdom

Inter-Roller Engineering Limited has been awarded a contract by DHL Express International (Thailand) Limited to design and build a Material Handling System for the new DHL Bangkok Hub located in the New Bangkok International Airport (Suvarnabhumi Airport).

The Express Parcel Handling system is scheduled to commence operations at end of May 2006. This is Inter-Roller’s third Material Handling System for DHL, following that for DHL Hong Kong Hub and DHL Singapore Hub in 2000 and 2001 respectively.

Over in Europe, Inter-Roller has been contracted to develop a design for a fully automated Baggage Handling System for Manchester Airport’s proposed expansion at Terminal 1 as well as a proposed Departure Baggage Make-up Area.

The total value for the contracts is approximately SGD 4.5 million.

Inter-Roller specializes in the designing and building of Airport Logistics Systems such as Airport Baggage Handling Systems, In-flight Catering Systems, Air Cargo Handling Systems and Parcel Handling Systems. [+]

KS Energy Welcomes Qatari Oil & Gas Veteran As New Director

KS Energy Services Limited has appointed Shk. Faisal Fahad Jassim M. Al-Thani as an independent director of the Company with effect from 20 January 2006.

Sheikh Al-Thani, a Fulbright scholar, completed his first degree in Petroleum Engineering at the University of Tulsa, Oklahoma followed by a Masters in Project Management at the University of Bath as well as a PhD in Project Finance at Leeds University, UK.

Sheikh Al-Thani has 18 years of working experience in the oil & gas industry in Qatar. He started his career in 1987 with state-owned Qatar Petroleum and spent more than a decade working there before being seconded to Arco Qatar and British Petroleum in Qatar.

KS Energy is an energy services group catering to the oil & gas and petrochemical industries around the world. [+]

CAO Subsidiary Closes Latest Jet Fuel Tender For March To April 2006 Deliveries

Wholly-owned subsidiary, China Aviation Oil Trading Pte Ltd, has closed its latest physical Jet Fuel tender for deliveries in March to April 2006.

CAOT’s latest tender was very successful and received responses from 17 physical jet-fuel suppliers, including oil majors, independent refineries and major trading houses. For this tender, total volume of 460,000 metric tonnes of A-1 Grade Jet Fuel was awarded and the tender was approximately 4.7 times oversubscribed.

China Aviation Oil (S) Corp Ltd is a Singapore-headquartered, multinational investment and oil infrastructure company. [+]

CNA Group Wins Singapore Projects Worth S$6.2m

• CNA working on projects for the Circle Line MRT system, Changi Prison Complex and Changi Water Reclamation Plant.

• CNA aims to build core competency in water treatment facility management systems.

• CNA involved in infrastructure projects essential to Singapore.

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. [+]



CEO's Walk The Talk

"..China Fishery Group Limited envisions being a leading force in the global fishery industry. Through a multi-pronged strategy executed by a highly experienced management team, we will strengthen our fishing capabilities, expand the scope of our operations and build a robust logistical framework to grow CFGL further..."
Mr Ng Joo Kwee
Executive Chairman
China Fishery Group Limited


Highlighted Company


From a visionary start-up of only 12 staff in 1990, the Technics Oil & Gas Limited is today a leading international specialist engineering service provider with over 170 staff, offering a comprehensive range of engineering services for the oil and gas exploration and production industry.

As a highly professional one-stop service entity, our services encompass design, engineering, procurement, fabrication, installation and commissioning of turnkey projects. These services are categorised broadly under the following three key areas:

• Engineering, Procurement, Construction and
Commissioning (EPCC)

• Contract Engineering (CE)

• Procurement and other After-sales Services (PS)

Since its incorporation, Technics has participated in several major onshore and offshore projects both locally and abroad. Our strength lies in our strong and reliable engineering and project management capabilities with a highly proven track record of completing projects on time and within budget. We are thus well-positioned to provide customers with a wide range of integrated services, tailored to their specific needs and requirements.

Led by a team of dedicated professionals and experienced engineers, our outstanding service standards and impeccable track records have allowed us to build strong and longstanding customer relationships.

Presently, Technics has over nine countries, including Australia, Brunei, China, Malaysia, Myanmar and Russia, within its business coverage and offices in Singapore, Indonesia and Vietnam. Among our growing portfolio of international customers are several bluechip clients that includes Emerson Process, Halliburton Multinational, Keppel Fels, MODEC, Petreco International, Shell, Technip, VietsovPetro JV and many more.

Our current facilities comprise two wholly-owned manufacturing and fabrication yards in Singapore and Batam, with a land area of 16,759 sqm and 20,000 sqm respectively. With both facilities sited on extensive waterfronts, we are more than suitably geared to undertake any large EPCC projects.

Our continuous effort to excel has brought us constant success and allows us to chalk up a distinguished list of certifications since our establishment in 1990. Certainly, we are not resting on our laurels, and Technics will continuously strive to make its indelible mark in the highly specialized oil and gas exploration and production industry.































Historical Price Data
 Date Open High Low Close
Volume  
 20 Jan 2006
0.370
0.370
0.355
0.355
1,859,000 
 19 Jan 2006 0.345 0.370 0.345 0.365
2,642,000 
 18 Jan 2006 0.350 0.355 0.340 0.340
2,371,000 
 17 Jan 2006
0.370
0.370
0.345
0.350
3,981,000 
 16 Jan 2006 0.360 0.380 0.360 0.370
4,780,000 

Fundamentals
EPS ($) *
0.01396
NAV ($) **
0.0782
Dividend ($) ****
 -
PE
26.146
Price / NAV **
4.668
Dividend Yield (%) ****
 -
Market Cap (M)
52.165
Par Value ($)
SGD 0.040
Issued & Paid-up Shares ***
142,917,000
52 Weeks High
0.380
52 Weeks Low
0.140
 
* 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 13/11/2005. Please click here for more information.
**** Dividend is based on latest Full Year Results Announcement and excludes special dividend

Newsroom
17 Jan 2006 Resolutions Approved At Annual General Meeting
16 Jan 2006 Technics Oil & Gas Limted Secures S$13.8 Million Gas Compressor Contract For New Zealand FPSO
16 Jan 2006 Reply To SGX Query Dated 12 January 2006
03 Jan 2006 Technics Oil & Gas Limited Secures S$15 Million Gas Compressor Contracts In December 2005 From Chevron And Shell
29 Dec 2005 Notice Of Annual General Meeting






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