13 February 2006      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
 K1 Venture
227,085 
 GlobalVoice
203,410 
 Japan Land
184,565 
 GlobalTest
146,790 
 SKY Petrol
137,730 
Weekly movement as at 10 February 2006
WEEK'S TOP GAINER
 Name
Price  
Chg 
 Bukit Sem
12.800 
+0.800
 GreatEast
14.900 
+0.400
 GuocoLand
1.940 
+0.380
 ChinaFish
2.040 
+0.370
 Unisteel
2.390 
+0.350
Weekly movement as at 10 February 2006

 
HEADLINES FOR THE WEEK
Aussino: H1 Net Profit Up 8% To $4.87 Million
AusGroup: H1 Net Profit Up 40% To A$3.55 Million
Hartford: Post Q2 Net Profit of $427,000
IPC: HK Unit ThinSoft Post Net Profit Of HK$8.3 Million For FY05
SingTel: Q3 Net Profit Up 16% To $885 Million
Yellow Pages: Q3 Net Profit Up 37.3% To $828,000
Keppel: Bag Order For New Jack-Up For America's
Atwood Oceanic Inc


Datacraft: Q1 Net Profit Up 100% To US$4.2 Million
Sing Food: Q4 Net Profit Up 12% To $14.94 Million
SNP: FY05 Net Profit Up 50% To $15.2 Million
Sincere: Q3 Net Profit Up Six-Fold To $15.7 Million
LMA: Q4 Net Profit Up 9% To US$6.42 Million
Unisteel: FY05 Net Profit Up 43.4% To $41.4 Million
F&N: Q1 Net Profit Up 5.4% To $68.6 Million
SembMar: PPL Shipyard Bagged US$141.1 Million Order
For Jack-Up Rig
 

HOT Off The Press

China Essence Garners Strong Support For Its IPO

• Public Offer of 3 million shares attracted application for over 383,005,000 Offer Shares.

• Strong institutional demand saw placement tranche of 93 million shares fully subscribed.

• Anchor investors include Dubai Investment Group Limited, Tung Ting Limited, Royal Bank Of Canada Brunei, funds under the discretionary management of JF Asset Management Limited, funds under the discretionary management of Prudential Asset Management Limited and Asia Fountain Investment Co Ltd.

• Total invitation of 96,000,000 shares was 5.0 times subscribed.

• Shares will commence trading on the SGX-ST on 13 February 2006 at 9am.

China Essence is a leading integrated producer of potato starch and potato starch-based products such as vermicelli, starch strips and five-grain noodles in the PRC. [+]

Eu Yan Sang Interim Profit Up 25% To S$6.6m

Eu Yan Sang International Ltd reported a record set of interim results as 1H FY2006 net profit increased 25% to S$6.6m on the back of a 12% increase in revenue to S$85.7 million for the six months ended 31 December 2005. The higher profit translates into a 24% increase in earnings per share from 1.47 cents to 1.82 cents.

The Group's good performance is due to a stronger retail presence in Hong Kong, Singapore and Malaysia, aided by improving consumer sentiments.

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

Armarda Acquisition Of Shares In Brilliant Time Limited

Armanda has on 6 February 2006 entered into a sale and purchase agreement with Mr Lee Man Lung, Vincent to acquire 250 shares of US$1.00 each, representing 25% of the total issued capital of Brillant Time Limited and its 75% owned PRC subsidiary. The total purchase consideration of the acquisition is HK$20 million based on 4.44 times the PE ratio of BTL Group's guaranteed after tax profit of HK$18 Million for FY2006.

The acquisition provides the group with access to rural credit co-operative banks, one of the fastest growing sectors in the banking and finance industry in the PRC.

Armarda provides an integrated suite of services for the banking and financial services industry in the PRC. [+]

MatrixView Wins Global Innovation Award

MatrixView was conferred the 2005 Technology Innovation Award from Frost & Sullivan. The award was given in recognition of MatrixView's contribution to the field of lossless medical data compression which is critical from a medico-legal standpoint, given the digital thrust in the industry.

MatrixView's novel intelligent transformation of data, coined Adaptive Binary Optimization™ is charting new territory going by proven industry benchmarks in data compression which is only a byproduct and one aspect of the ABO™ algorithm, apart from transmission and security.

MatrixView Limited is a core technology innovator that uses its patented Adaptive Binary Optimization technology to provide unique architectural solutions to enterprises across the digital content management continuum. [+]

Union Steel Holdings Limited Reports Net Profit Of S$2.2 Million On A Turnover Of S$51.7 Million In HY2006

Union Steel Holdings Limited continued to report profitability in the first half of FY2006 despite challenging market conditions. It announced a net profit of S$2.2 million on a turnover of S$51.7 million for the half year ended 31 December 2005.

The Group registered an EPS of 0.64 cents, an annualised ROE of 12.0% and annualised ROA of 6.3%. Net Asset Value (NAV) per ordinary share rose from 9.53 cents to 10.73 cents.

Union Steel's Directors is one of the largest metals recyclers in Singapore in terms of volume of metals recycled. [+]

Oculus Exhibiting Its FreshKon Disposable Color Lenses In Dubai Trade Show

Oculus Limited will be participating in the 7th Optical & Ophthalmic Exhibition and Conference to be held in Dubai, from February 12 - 14. Vision-X Dubai is the largest trade show in the Middle East region.

Oculus Limited is focused on the innovation, manufacture and marketing of color lenses. [+]

Inter-Roller Announced Record Turnover And Profit For Financial Year 2005 And Proposed Final Dividend Of 5 Cents Per Share

Group turnover at $101.2 million was 45% higher than the turnover of $69.9 million for the previous year. Net profit after tax rose by 69% from $10.0 million in 2004 to $16.9 million in 2005. Earnings per share for 2005 were 10.4 cents compared with 6.1 cents in 2004 based on the number of shares in issue as at 31 December 2005.

Inter-Roller has proposed a final one-tier tax-exempt dividend of 25% or 5 cents per share to be paid on the enlarged share capital of the Company. Total dividends paid and payable in respect of FY 2005 was $11.1 million compared with $6.2 million for FY 2004.

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

Petra Foods Acquires "Hudson" Brand

Petra Foods Limited has acquired the "Hudson's" trademark for functional throat candies (i.e. cough drops and jujubes). The purchase consideration of RM6.5m.

Originally manufactured more than 100 years ago in Australia, Hudson's is now a household name in cough drops that consumers in the region (especially Malaysia and Singapore) have grown up with for decades. Under the Agreement, Petra Foods will acquire from Hudson Group Holdings (M) Sdn Bhd the ownership rights to the "Hudson's" trademark in the following countries - Malaysia, Singapore, Philippines, and Brunei.

Petra Food Limited and its subsidiaries is one of the world's major manufacturers and suppliers for cocoa ingredients, namely cocoa powder, cocoa butter and cocoa liquor. [+]

Ace Achieve Secures Over RMB 90 Million Worth Of Contracts In November And December 2005

These contracts are predominantly for the Group's mainstay Wireless Coverage Solutions and Business & Operation Support Systems segments. The Group's orderbook amounted to RMB 165.8 million as of 31st December 2005.

The new orders represent approximately 82% of the Group's 1H FY2005 turnover of RMB 109.9 million and are expected to have a positive financial impact for the Group's FY2006 revenue and earnings performance.

Ace Achieve Infocom Limited is a provider of telecommunication solutions and products in the PRC. [+]

Newly Listed Global Industrial Fishing Specialist China Fishery Records 73.7% Jump In FY2005 Net Profit To US$30.7 Million

• Bottom-line growth attributed to higher revenue from new fishing grounds, improved processing capabilities of selected operations and positive impact on operating margins from an amended agreement with a strategic industry partner.

• Directors are confident of better performance in FY2006 in view of strong global demand for fish, particularly in the PRC, against a backdrop of increasing health consciousness and limited "wildcatch" marine resources.

• Proposes final dividend of 2.36 Singapore cents per share in line with dividend policy.

China Fishery Group Limited is a global, integrated industrial fishing specialist with governmental rights to fish in diverse locations across the world's oceans. [+]

ECS Opening 4 Branches In Indonesia This Year

ECS Holdings Ltd operations in Indonesia have officially opened a new branch office in Yogyakarta today. It plans to open three more new branches this year to capture the growing demand for ICT products and services in Indonesia.

The offices will be located in the densely populated areas of Yogyakarta, Bandung, Surabaya, and Medan. Yogyakarta is chosen for its strategic location as the education hub of Indonesia, and one of the fastest growing cities in Indonesia.

ECS Indonesia was recognized as Cisco Best Distributor for 2005. It was also one of the top distributors for HP, Sun, Apple and Microsoft products in Indonesia.

ECS Holdings Ltd is a leading ICT product and services provider, serving and supporting a wide regional customer base. [+]

Asia Enterprises Posts Record Revenue Of $131.3 Million For FY2005, Up 61%

• Increased sales driven by strong demand from the buoyant shipbuilding and marine sectors.

• Higher net profit $12.1 million in FY2005.

• Proposing to reward shareholders with maiden dividend of 1.774 cents per share.

Asia Enterprises is a major distributor of a wide range of steel products to industrial end-users in Singapore and the Asia-Pacific region. [+]

MTQ Posts Q3 Profit Of S$3.3 Million

The improvement was mainly led by the following:

• Gain on dilution of MTQ's shareholdings in associate, RCR Tomlinson Ltd following RCR's share placement at a significant premium above its net assets value.

• The Group's share of a stronger set of RCR's results.

• Stronger earnings from the Oilfield Engineering division.

• Reduced operating losses from the Subsea Robotics division following the divestment of its ROV fleet, coupled with a net gain on disposition.

• Absence of a significant provision for impairment of the ROV assets made in 3QFY05.

MTQ Corporation Limited Group specialises in engineering services, and is primarily involved in oilfield equipment repairs and retail operations. [+]

RSH Limited 9 Months Net Profit Grows By 16.5% To $16.4 Million As Revenue Climbs 29.4% To $402.6 Million

RSH Limited announced net profit for the first nine months of FY2006 grew by 16.5% from $14.1 million last year to $16.4 million, backed by 29.4% revenue growth from $311.1 million to $402.6 million.

Earnings per share rose by 8.9%, from 4.06 cents to 4.42 cents while cash and cash equivalents stood at $13.7 million, with net cash inflow from operating activities, maintaining in positive territory at $4.8 million.

RSH Limited is the leading pan-Asian marketer, distributor and retailer for sports, golf, active lifestyle and fashion products. [+]
 

IT Industry Leaders Form Consortium For Landmark Singapore Government Contract

EDS, Singapore Computer Systems, Avanade, Cisco Systems and Microsoft jointly announced the formation of a consortium, named "oneMeridian", that will bid for the Singapore Government's S$1.5 billion Standard ICT Operating Environment tender.

Led by EDS, oneMeridian brings together leading global and local IT services providers, technology consultants and providers. EDS is the world's leading independent IT services provider, and is responsible for two of the world's largest and most complex government IT infrastructure projects ever (in the US and UK respectively).

SCS brings local resources, expertise, and a 25-year track record of successful IT project implementation for the Singapore government.

Singapore Computer Systems is a leading information and communications technology service provider in Asia. [+]

ADVANCED's 17.0 Million New Shares To List On Singapore Exchange On 7 February 2006

Advanced Holdings Ltd. recent private placement of 17.0 million new shares has been successfully completed and the new shares will be listed and quoted on the Official List of the Singapore Exchange Securities Trading Limited Dealing and Automated Quotation System with effect from 9:00 a.m., 7 February 2006.

The latest placement exercise, aimed at enhancing the liquidity of the stock and to raise institutional shareholding in the Group, increases the Company's issued share capitalisation to approximately 129.43 million shares.

At S$0.89 per share, Advanced raised estimated net proceeds of S$14.7 million which will be used to fund strategic investments and for general working capital.

Advanced has established itself as an ISO9001:2000 certified specialist company which designs and supplies process equipment and technologies to cater to the different needs of its customers in the chemical and petrochemical, oil and gas, power generation and micro-electronics industries. [+]

Global Voice Group To Acquire European Long Haul Intercity Network

Global Voice Group Ltd has entered into a memorandum of understanding with Viatel Holding (Bermuda) Limited, the owner of a long-haul intercity fibre network across Europe, to acquire one half of Viatel's inter-city fibre and duct infrastructure assets in Europe.

The acquisition will provide GVG with the following additional infrastructure:

• A long haul inter-city fibre network across Europe covering Germany, France, Belgium, Holland, Switzerland and the UK across 6,800 kilometres and built at a cost of Euros 1.2 billion.

• Two undersea cross channel cables linking Continental Europe to the UK.

• New infrastructure clients generating recurring revenues of approximately Euros 2.6 million per annum.

• New metropolitan fibre network infrastructure in Paris.

Global Voice Group Limited owns and operates valuable city based fibre network assets in 14 cities across Europe. [+]

Acquisition Of Property By Shanghai BreadTalk Co., Ltd.

Shanghai BreadTalk Co., Ltd. has entered into a Sale & Purchase Agreement to purchase a leasehold property located in Shanghai, The People's Republic of China for a purchase consideration of RMB28,600,000.

Cash through bank borrowings and internal resources will fund the purchase. An accredited Shanghai property valuer did the valuation of the Property.

The purchase consideration represents approximately 13.1% of the Company's market capitalization of S$44.2 million as at 6 February 2006. The Property has a remaining lease of approximately 49 years and will be depreciated over 20 years.

BreadTalk has become a distinctive Singapore brand that has gained international appeal and renowned for the way it has revolutionised the culture of bread consumption with its visually appealing, aromatic and unique-tasting products. [+]

PEARL Begins 3-Well Exploration Program At Sebuku PSC

Jack-up rig Shelf Explorer has arrived on location at the Sebuku Production Sharing Contract in the Makassar Straits, Indonesia and has commenced drilling the first well of a three-well exploration program expected to last 75 days.

The Shelf Explorer spudded the Makassar Straits-2 appraisal well on 7 February 2006. The well is planned to be drilled to a total measured depth of 5,789 feet over 17 days and is intended to appraise the Makassar Straits-1 gas discovery drilled and tested by Ashland Petroleum Indonesia Inc. in 1974.

The Sebuku PSC covers an area of approximately 8,773 sq. km and is located offshore east of Kalimantan.

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

Tat Hong Joint Venture With KS Energy Limited And RMB87.5 Million Contract From Sky China Petroleum Services Ltd

Tat Hong has signed a term sheet with KS Energy, to form a joint venture in Singapore principally to provide procurement and management services of oilfield equipment.

Each party will inject approximately S$100,000 as the issued and paid up capital of the joint venture company. The 50-50 joint venture will be represented on the board by 2 directors from each party. Shareholders' loans and profit distribution will be on an 80% (KS Energy) 20% (Tat Hong) basis.

The joint venture company will principally provide procurement and management services (inclusive of oilfield equipment) worth RMB 87.5 million to Sky Petroleum, in relation to oilfield equipment. Sky Petroleum is a PRC based petro-engineering technical services provider in the PRC oil and gas industry. The period for the provision of the services is for 5 years.

Tat Hong specialises in the rental and sales of heavy equipment such as crawler and mobile cranes, foundation equipment, piling rigs, excavators etc.

KS Energy Services is a leading one-stop supply and services center to the oil & gas, marine, mining and petrochemical industries in China and South East Asia. [+]

SP Chemicals Achieves Record High FY2005 Net Profit Of RMB186.4 Million

The Group's net profit surged 44% to RMB186.4 million, from RMB129.5 million in FY2004. The rate of growth of the net profit was higher than that of the growth of the Group's revenue of 16% in the same period, from RMB1.0 billion to RMB1.2 billion. The strong performance was boosted mainly by higher product prices in the first half of the year, as production continued to run at maximum capacity, delivering greater economies of scale.

Export sales accounted for 12% of the Group's turnover for the year. During the year, the Group continued to export caustic soda, as well as nitrobenzene to Flexsys N.V., and aniline to global companies such as The Dow Chemical Company and BASF Corporation.

Based on the full year results, earnings per share increased 44% to 61.16 RMB cents, while net asset value per share rose to RMB2.30 as at 31 December 2005.

SP Chemicals is the second largest ion-membrane Chlor-alkali producer in Jiangsu Province, and the fifth largest in the PRC as at 30 November 2005. [+]

Integrated Global Seafood Supplier Pacific Andes Holdings Posts 68.6% Rise in Nine Months' PATMI to HK$113.2 Million

• Nine Months' revenue increases 32.1% to HK$2.1 billion despite 2Q & 3Q being traditional low seasons in tandem with main fishing seasons.

• 3Q FY06: revenue up 22.1% to HK$662.4 million; PATMI up 50.6% to HK$25.9 million.

• Strong earnings growth propelled by sustained strong demand for quality frozen fish, particularly in the PRC, continued trend in higher selling prices and higher contribution from newly listed upstream subsidiary, China Fishery Group.

• Outlook - Group is on track to achieve a better performance for 4Q FY06 versus 4Q FY05 and thus strong performance expected for FY2006.

• China Fishery Group's successful IPO and SGX listing paves the way for the Group to persist with Pacific Andes vertical integration expansion utilising freed up resources.

Pacific Andes (Holdings) Limited is a leading food supplier, specialising in industrial fishing, global sourcing, transportation and supply of quality frozen seafood products to the international market. [+]

Karin Technology's Interim Net Profit Up 11.7% To HK$16.2 Million

The increase in profit was due largely to the increase in sales of higher margin electronic components and the scaling down on the computer products distribution business with relatively low gross margin.

Recognising the slowdown for our application design solutions for TV games and toys, the Group shifted its focus to the development of wireless products, USB solution packages and design-in technical services for more stable orders and better margins.

The Group has recommended an interim dividend of HK3.3 cents per share.

Karin is a diversified and value-added electronic components, IC software and IT infrastructure solutions provider dealing with components distribution and trading business for various segments of the electronics industry. [+]

SMT Maintains Net Margin Despite Slower Growth For The Third Quarter Of FY2006

The Group's revenue and profit attributable to shareholders for the three months ended 31 December 2005 were HK$669.8 million and HK$37.5 million respectively. Compared with revenue of HK$643.6 million and profit attributable to shareholders of HK$36.0 million for the three months ended 31 December 2004, SMT achieved growth in revenue of 4.1% and profit attributable to shareholders of 4.2%.

Earnings per share rose from 13.64 HK cents to 14.21 HK. Net assets per share rose from HK$2.16 as at 31 March 2005 to HK$2.46 as at 31 December 2005.

SMT is engaged in the provision of EMS to OEMs of computer peripherals, telecommunications, consumer and industrial products. [+]




CEO's Walk The Talk

"..We are very pleased to be part of oneMeridian. SCS has over 25 years' experience supporting various government enterprises. Therefore, we understand their heterogeneous environment and the end-user requirements. We believe that the EDS approach, of combining leading global players with the local touch, is the best way to address the technology needs of the Singapore government..."
Mr Tan Tong Hai
President and Chief Executive Officer
Singapore Computer Systems Limited


Highlighted Company


Singapore Computer Systems Ltd (SCS) is a leading information and communications technology service provider in Asia. As a trusted partner to its customers, SCS empowers organisations with competent IT professionals, using proven processes and living technologies in a timely and cost-effective manner.

Our Trusted Services are designed to maximise organisational performance and are compliant with regulatory and security guidelines. These services range from traditional IT infrastructure, business solutions, systems integration and managed services to state-of-the-art Application-Aware Infrastructure, convergence, business rules management systems, business process outsourcing, and business continuity.

Trusted Services have been successfully deployed in multiple sectors including banking, government, insurance, logistics, manufacturing, pharmaceutical, property and telecommunication.

SCS has operations in Asia spanning Singapore, Brunei, China, Hong Kong, Indonesia, Malaysia, the Philippines and Thailand.































Historical Price Data
 Date Open High Low Close
Volume  
 10 Feb 2006
0.700
0.700
0.700
0.700
15,000 
 09 Feb 2006 0.700 0.700 0.700 0.700
24,000 
 08 Feb 2006 0.725 0.725 0.720 0.720
21,000 
 07 Feb 2006 0.720 0.725 0.720 0.725
77,000 
 06 Feb 2006 0.710 0.720 0.710 0.720
83,000 

Fundamentals
EPS ($) *
0.18015
NAV ($) **
0.6170
Dividend ($) ****
0.030000
PE
3.886
Price / NAV **
1.135
Dividend Yield (%) ****
4.286
Market Cap (M)
107.895
Par Value ($)
SGD 0.250
Issued & Paid-up Shares ***
154,136,000
52 Weeks High
0.950
52 Weeks Low
0.640
 
* 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 11/11/2005. Please click here for more information.
**** Dividend is based on latest Full Year Results Announcement and excludes special dividend

Newsroom
27 Jan 2006 SCS Purchases 30% Equity Stake In SCS ICT From Kompakar e-Systems
27 Jan 2006 SCS Divests Stake In Scalable Systems
18 Jan 2006 TX123 (Singapore) Becomes Wholly-Owned Subsidiary Of SCS
17 Jan 2006 Announcement Pursuant To Sgx Listing Rule 704(11)
11 Nov 2005 SCS Reports S$9.1m Loss for 3Q FY2005






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