24 April 2006      
Volume `000 
Weekly movement as at 21 April 2006
Weekly movement as at 21 April 2006

M1: Unveiled Cheaper Plan For Unlimited Wireless 3G Net Access
Koh Brothers: Won $23.6 Million PUB Contract From The Public Utilities Board
M1: FY06 1Q Net Profit Up 12% To $45 Million
Sing Holdings: IPO Of 44 Million Shares at 30 Cents Each To Raise $13.2 Million
Asia General: Japan's Tokio Buys Majority Stake In Singapore Insurer Asia General
CapitaLand: Tie-up With India's Largest Listed Retailing Group Pantaloon

Dayen: Popiah King Sam Goi Takes Up Warrant Entitlement
Translating To Possible 25.9% Stake
CityDev: Won 10 Out Of 49 Awards In Building And Construction
Ascott: 1Q Net Profit Up 18 Times To $43.8 Million
PSA: Buys 20% Stake In Port Assets Of Hutchison Whampoa For
US$4.388 Billion
Chartered: FY06 1Q Net Profit US$25.3 Million Versus Net Loss Of
US$84.5 Million A Year Ago
Bright World: To Raise $34.1 Million From IPO Of 105 Million Shares
At 36 Cents Each
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HOT Off The Press

China Petrotech Clinches Milestone First Overseas Oilfield Service Contract

China Petrotech Holdings Limited has signed a service agreement with China Zhen Rong Cambodian Energy Co., Ltd to provide technical advisory and project management services for the exploration, development and production operations of CZRCE's offshore oil project in Cambodia.

CZRCE recently signed a Production Sharing Contract agreement with the Cambodia National Petroleum Authority to conduct exploration and production operations in an offshore area of Cambodia.

Under the service agreement effective 11 April 2006, China Petrotech will manage the offshore oil project and advise CZRCE on all the technical aspects of exploration, development and production operations of the project, including project planning, drafting of technical specification of work tenders and the evaluation of work tenders.

China Petrotech will be paid a project management fee plus a separate technical advisory fee for each consultancy project involving exploration, development and production activities. In addition, China Petrotech will be paid for the use of its exploration software, equipment and services if they are used in the operation of the project.

China Petrotech Holdings Limited L is a leading technology-based oilfield service provider operating mainly in China. [+]

Swissco Orders An Azimuth Stern Drive Anchor Handling Offshore Vessel

Wholly-owned subsidiary, Swissco Offshore Pte Ltd has ordered a 48m Azimuth stern drive anchor handling tug from a Chinese shipyard in Guangzhou, PRC, for a sum of S$7.5 million.

The 48m vessel when delivered in 2nd half 2007, will be the Group's most specialized AHT. Fitted with Azimuth stern drive propulsion, the vessel will be highly maneuverable and yet powerful. This again is in line with the Group's plan to move up the offshore support vessels value chain.

The Group has been divesting its older and less specialized vessels the past few years while investing in bigger and more specialized offshore support vessels. This will enable the Group to offer to its customers a wider range of vessels to meet their evergrowing and demanding requirements.

Swissco is one of the leading operators of a young and modern fleet of offshore support vessels, providing marine services to the shipping and offshore Oil and Gas industries. [+]

Group Acquired Leading TCM-Formulated Research Institute

STAR Pharmaceutical Limited has acquired a 60% equity stake in Beida Shijia Technology Development Co., Ltd by the Company's subsidiary, Hainan STAR Pharmaceutical Co., Ltd, from Million Power Holdings Limited at a cash consideration of RMB55,000,000. Peking University holds the remaining 40% of Beida Shijia. The Company has engaged an independent qualified valuer to prepare a valuation report for the Acquisition. In accordance with the Valuation Report, the total assets value of Beida Shijia as at 31 December 2005 was approximately RMB138,617,000.

Beida Shijia is a National High-Tech Enterprise and a leading research institute specialising in the research and development of innovative Traditional Chinese Medicine formulated drugs.

STAR Pharmaceutical specialises in the manufacture and sale of both western and TCM-formulated prescription drugs. The Group's manufacturing facility is based in Qionghai City. [+]

Hongguo International To Further Expand Production Capacity In Second Half Of FY2006

Hongguo International Holdings Limited is expanding its production capacity in the second half of the financial year ending 31 December 2006, to meet growing demand for both its in-house ladies' footwear labels C.Banner and E.Blan, as well as Original Equipment Manufacturing orders.

Currently, the Nanjing and Dongguan facilities have three production lines each. With the proposed capacity expansion, two new lines will be added to the Dongguan facility, while one new line will be added to the Nanjing manufacturing facility.

Completion of the works is expected in end-June 2007, upon which, the Company's combined annual production capacity will be raised by 50% from 2.52 million pairs currently to 3.90 million pairs of shoes.

Hongguo International Holdings Limited is the company behind one of the leading premium brands of ladies' fashion footwear in China. [+]

Noble Group Buys China Soybean Plant

Noble Group Limited has financially closed on its agreement to purchase an integrated soybean crushing and refining plant in the port of Qinzhou, Guangxi Autonomous Region, China, from Siping Hongzui Grease Limited. The plant will supply soybeanmeal and oil to customers in rapidly expanding markets in Southern and Central China.

The acquisition of the Qinzhou Dayang facility will further integrate Noble's global agricultural supply chain, linking its strengths in origination, elevation and sea-borne transportation to the most dynamic and developing market for Noble's products. Noble will supply a significant part of the soybeans for Qinzhou Dayang through its newly built port in Timbues, Argentina, creating an integrated supply chain from field to feed.

This transaction makes Noble one of the largest foreign investors in Qinzhou, a city of 3.3 million people that has targeted an annual growth rate of 25% per year in foreign investment for the next 5 years, aided by low corporate taxes and wages.

The Qinzhou Dayang facility started operations in June 2005 and is located in the growing port of Qinzhou, capable of receiving and discharging panamex sized vessels.

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

Bio-Treat Bags RMB110 Million Municipal Turnkey Wastewater Treatment Project In Eastern Dongguan City

Demonstrating its strong foothold in the PRC's wastewater treatment arena, Bio-Treat Technology Limited has successfully bagged a RMB110 million turnkey wastewater treatment project in Eastern Dongguan City, Guangdong Province, the PRC.

Under the contract, Bio-Treat will construct a wastewater treatment plant and a set of drainage pipes using its proprietary BMS wastewater treatment system. Construction is expected to commence in August 2006, with completion targeted within 14 months.

This latest project marks Bio-Treat's third municipal turnkey contract win in two months, and builds on the Group's strong foothold in the PRC's wastewater treatment arena. Bio-Treat had, earlier in March 2006, secured two turnkey wastewater treatment projects worth a total of RMB199 million in Fu Ning City and Xiang Shui City, Jiangsu Province, the PRC.

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. [+]

Brookstone Names Lou Mancini As CEO

OSIM International Ltd 54.2% owned Brookstone, Inc. has appointed Mr. Lou Mancini as CEO. In that position, he succeeds Mr. Michael Anthony, who has left Brookstone and will pursue other interests.

Lou Mancini is a seasoned CEO with over 25 years of experience in managing specialty retailing companies, including the most dynamic growth phase of General Nutrition Centers, one of the most successful specialty retailers of the 1990s. As CEO of Murray's Auto Discount Stores, he made a dramatic impact on the company's operations and financial performance. In a little more than a year there, he successfully addressed competitive and operating issues including store profitability.

OSIM is a global leader in branded healthy lifestyle products. [+]

TPA Strategic Holdings Ltd Intensifies Focus On Ordnance And Homeland Security Services Business, Increases Stake In Starmo International Pte Ltd To 90%

The Company's interest in the Ordnance and Homeland Security Services business has been held through its equity interest in Starmo, which is the holding company of Explomo Technical Services Pte Ltd and TechnoPlus Pte Ltd.

With more than 17 years in the ordnance and explosives business and the entertainment industry, Explomo has been in the forefront of providing the following specialised services:

(a) Ordnance and explosives disposal services in Asia and Europe
(b) Firearms simulator training
(c) Land remediation
(d) Pyrotechnics and fireworks displays

The Company recently received a letter of award from a major defence company in Singapore to supply, install, test and commission a mobile ammunition disposal plant and a demilitarization disassembly equipment. The size of the award is approximately S$7.80 million including an option of approximately S$3.10 million.

TPA is a leading niche service provider and distributor of a myriad of OEM airline spares and aircraft components to the aviation-related industry in the Asia-Pacific region, with key markets comprising China, Middle East, Japan, Singapore, Taiwan and Korea. [+]

UTAC To Acquire NS Electronics Bangkok For Up To $175 Million

•  Agreement signed for UTAC to acquire 68.45% controlling stake of NSEB from UBS Capital; UTAC extending offer for the remaining stake.

•  Acquisition would have been earnings accretive based on proforma financial effects for FY2005.

•  Enhances UTAC's assembly business; access to lower cost structure and extends packaging portfolio.

•  Minimal customer overlap creates greater cross-selling opportunities.

•  Provides UTAC with greater economies of scale.

United Test and Assembly Center Ltd is a leading independent provider of semiconductor assembly and testing services for a broad range of integrated circuits including memory, mixed-signal, logic and radio-frequency ICs. [+]


Four Year Charter Contract Of Two Land Rigs For US$10.8Million

Tat Hong Holdings Ltd will establish a joint venture with KS Energy Services Limited to charter two land rigs to a China national oil company. The total value of the charter contract is approximately US$10.8 million over 4 years, comprising an initial term of 2 years with an option to extend for another 2 years.

The JV Company will finance the land rigs with shareholders' equity as well as bank borrowings. In addition to securing the contract, Tat Hong, with its expertise in heavy equipment, will provide back up support in the maintenance of the Rigs while KS Energy will play a key role in procurement, installation, commissioning and the subsequent management of the Rigs. Profit distribution will be effected on a 30% (Tat Hong) to 70% (KS Energy) basis.

Scheduled for delivery in the second half of FY2006, the Rigs are currently under construction in China. At the end of the charter period with the mutual consent of the China National oil company, the JV Company as owner of the Rigs will be able to re-deploy the assets for use in other operations.

Tat Hong was set up in Singapore in the '70s as a supplier of cranes and heavy equipment.

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

String Of High Value Contracts Totaling US$92.4 Million

COSCO Corporation (Singapore) Limited 51%-owned subsidiary, COSCO Shipyard Group had successfully secured contracts for the lower pontoons of two units of semi-submersible rigs, single to double-hull conversions and four specialized conversions. These contracts total US$92.4 million.

COSCO Corporation is a diversified group with core activities in shipping and shipping related services. [+]

Hongguo International Signs MOU With US-Based KIA Group Inc To Market "Naughty Monkey" Footwear Label In China

Wholly owned subsidiary Mayflower (Nanjing) Enterprise Limited has signed a Memorandum of Understanding with San-Diego based KIA Group Inc., a designer and manufacturer of fashion footwear in the United States of America.

Under the MOU, Mayflower Nanjing will receive exclusive distribution rights for Naughty Monkey footwear for next five years in China. In the first two years, Naughty Monkey will be retailed through the points-of-sales of Hongguo's in-house label E.Blan, which number 108 as at 31 December 2005. From the third year, the Company will establish independent points-of-sales for Naughty Monkey. By 2010, the Company hopes to achieve 210 such retail points, as well as sales of one million pairs of Naughty Monkey shoes.

Hongguo International Holdings Limited is the company behind one of the leading premium brands of ladies' fashion footwear in China. [+]

Launch Of Domperidone Maleate Tablets Under The Name "Youmalin" - A New C&O Product That Is Exclusive In Mainland China

C & O Pharmaceutical Technology (Holdings) Limited has launched a new C&O branded gastro-intestinal drug, Domperidone Maleate tablets under the name "Youmalin" in China.

Domperidone Maleate has a wide range of applications. It is used in the treatment of gastric indigestion to improve gastric mobility. It can relieve symptoms such as bloating, abdominal pain, belch and flatulence caused by delayed gastric emptying, gastroesophageal reflux disease (GERD) and esophagitis; pyrosis and oral burning sensation caused by GERD, chronic and subacute gastritis caused by gastroesophageal mobility disorder; and diabetic gastroparesis and general nausea and vomiting.

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

DMX Secures First Optical Backbone Network Contract For the Digitization Of The CATV Industry In Central China

DMX Technologies Group Limited has secured its first optical backbone network contract from a Cable TV operator in a Central province of China. Valued at US$1.0 million, the contract will see DMX building an optical backbone network to support 7 million subscribers over 18 cities and counties in the operating territory of the Operator.

Based on Cisco's ONS Multi-service Transport Platform, the proposed backbone network is the Group's maiden contract in the digitization of the CATV industry, and will consist of four interconnected optical rings at 2.5 Gbps speed that provides quality services and ensures security of contents. The network is designed to support the new Digital TV and existing broadband services, as well as supporting Operator's internal business and operations support systems, office automation applications amongst others.

DMX Technologies Group Limited is a new breed of system architects in Asia. [+]

Memory Devices Ties Up With POTEVIO Group, China's Biggest Handset Maker

Memory Devices Limited Group has signed a letter of intent to supply its solid state memory storage products to POTEVIO Group, China's biggest handset producer.

The quantum of the sales and delivery schedule will be based on the actual purchase orders placed and driven by market demand. Barring for any unforeseen circumstances, MDL believes that the supply to POTEVIO will contribute positively to the Group's earnings per share and net tangible assets per share in both FY2006 and FY2007.

POTEVIO is an IT products manufacturer and distributor as well as a service provider in the telecommunication industry where it is involved in both fixed line and mobile communications.

Memory Devices Limited Group engages in the research and development, manufacture and sale of solid state memory storage products for use in personal computers, laptops, servers, and networks as well as a wide array of consumer electronics, industrial, and communications applications. [+]

Asset Management Arm Of Prudential PLC Increases Stake In Bio-Treat To 5.04%

M&G Investment Management Limited, the asset management arm of Prudential plc across Europe, has increased its stake in Bio-Treat to 5.04%.

M&G has increased its stake by acquiring an additional 595,000 ordinary shares in Bio-Treat from the open markets on 13 April 2006. This brings M&G's total stake in Bio-Treat to 44,285,300 ordinary shares, representing approximately 5.04% of Bio-Treat's issued ordinary share capital.

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. [+]

UTAC Launches 2nd Singapore Facility; To Invest Additional S$500 Million In Singapore To Support Thriving Demand

•  Minister Mr Lim Swee Say opens 376,000 square foot plant in Ang Mo Kio to augment current 400,000 square foot facility, alleviating floor space constraints on growth.

•  To invest additional S$500 million over the next 5 years in Singapore, potentially generating more than 1,000 additional jobs.

•  Expanded capacity driven by broad-based customer demand.

United Test and Assembly Center Ltd is a leading independent provider of semiconductor assembly and testing services for a broad range of integrated circuits including memory, mixed-signal, logic and radio-frequency ICs. [+]

Eco Water Joint Venture Agreement

Eco Water Limited has entered into a Joint Venture Agreement with United Texmac Pte Ltd, a company incorporated in Singapore, to incorporate a joint venture company known as "ECOTEX Pte Ltd" pursuant to the terms of the JV.

United Texmac is an international player in the textile market and is desirous to embark on a new business in the pollution control and environmental protection related segments in the textile industry.

The objective of the JV is for the Company and United Texmac to co-operate and to jointly tender and undertake projects on turnkey or Build, Own, Operate and Transfer basis in relation to water and waste water treatment systems, solid waste treatment and management, Zero Discharge Systems, Sludge Treatment Systems, and other environmental related projects and the supply of speciality chemicals and products for industrial use and for water and waste water treatment plants related to textile industry worldwide.

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

Oculus Registered Third Consecutive Quarterly Profit

•  Registered Third Consecutive Quarterly Profit.
•  43.5 % Year-On-Year Quarterly Revenue Growth.
•  42.0% Year-On-Year Quarterly Gross Profit Growth.
•  45.3% Gross Margin In 1st Quarter '06.
•  Positive Outlook For Balance Of 2006.

Oculus Limited is focused on the innovation, manufacture and marketing of color lenses principally under the FreshKon® brand. [+]

CEO's Walk The Talk

"..As oil companies step up their exploration and production activities around the world, the demand for capital equipment in both land and offshore operations will remain robust. Expanding on the Group's expertise in procurement, charter and management of capital equipment, we seek to selectively own capital equipment by deploying our cash holding for higher returns..."
Mr Chew Thiam Keng
Managing Director and Chief Executive Officer
KS Energy Services Limited

Highlighted Company

TPA Strategic Holdings Ltd, an investment holding company, is primarily focused on the aviation business with a main portion of investments directed towards regional developments within this sector. The Company also has an interest in the ordnance and homeland security services business which has been restructured from its previous industrial products and services business.

Aviation Business
Our subsidiaries and associates in the aviation industry are, in essence, niche service provider to their valued customers which include world-class airlines operators, aircraft maintenance, repair and overhaul (MRO) companies and aircraft manufacturers. These services include aircraft spares distribution, 24/7 aircraft-on-ground (AOG) response services, repair services for avionics equipment and accessories, retrofit and upgrade of aircraft equipment and a vast array of value-added customized solutions.

Ordnance & Homeland Security Services
This aspect of our business specialises in the provision of ordnance and explosive services, commercial explosive sales and the supply and choreography of pyrotechnics and fireworks displays. It is also involved with the supply of homeland security products  and service.

Historical Price Data
 Date Open High Low Close
 21 Apr 2006
 20 Apr 2006 0.255 0.255 0.255 0.255
 19 Apr 2006 0.255 0.260 0.255 0.260
 18 Apr 2006 0.255 0.255 0.255 0.255
 17 Apr 2006 0.250 0.255 0.250 0.250

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 02/02/2006. Please click here for more information.
**** Dividend is based on latest Full Year Results Announcement and excludes special dividend

19 Apr 2006 TPA Strategic Holdings Ltd Intensifies Focus On Ordnance And Homeland Security Services Business, Increases Stake In Starmo International Pte Ltd To 90%
19 Apr 2006 TPA Strategic Holdings Ltd Increases Its Equity Interest In The Share Capital Of Its Currently 40% Owned Subsidiary, Starmo International Pte Ltd, To 90%
12 Apr 2006 (I) Notice Of Annual General Meeting And (II) Notice Of Extraordinary General Meeting
03 Mar 2006 Letter Of Award (Subject To Contract)
03 Mar 2006 Letter Of Award (Subject To Contract)

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