Midsouth Holdings Ltd initial public offering was approximately 4.4 times subscribed.
At the close of the Application List at 12.00 noon on May 3, 2005, 8,434 valid applications were received for the 3,000,000 Offer Shares available to the public for subscription at S$0.48 per share. In total, these applicants had applied for 292,217,000 Offer Shares, with application monies received amounting to S$140.26 million.
Midsouth's placement tranche of 82,000,000 shares received strong interest from both global and local investors, and was fully subscribed for. Among the anchor investors that took up 5.0% of the Invitation Shares each were JF Asset Management Limited, Invesco Hong Kong Limited, funds under the management of Schroder Investment Management (Singapore) Ltd and Schroder Investment Management (HK) Limited, InvestCapital Limited and Vision Capital Pte Ltd. In aggregate, these investors accounted for 21,250,000 shares, representing approximately 25.0% of the total invitation size of 85,000,000 shares.
Midsouth Holdings Ltd is a leading manufacturer of fibreglass reinforced plastic products and air-conditioning ventilation systems in the People's Republic of China. [+]
With effect from 2 May 2006, Mr Kris Taenar Wiluan has been appointed Chairman and Executive Director of KS Energy. Dr Adam Paul Brunet has also been appointed as an Executive Director of the Company.
Other key management personnel and the business division heads of the Company will remain unchanged.
KS Energy is an energy services group catering to the oil & gas and petrochemical industries around the world. [+]
• Group sales jumped 63% to historical quarterly high $267.6m fueled by strong performances from its ship repair and dry bulk shipping businesses.
• Ship repair sales leaped 53% to $203.0 million driven by high value contracts and shipyard capacity upgrades.
• Gross profit soared 76% to S$82.4 million on higher sales and margins expansion; Net profit attributable to equity holders rose 46% to $37.6 million.
• Group made further progress in offshore marine engineering business by securing new high-value rig-building and ship repair & conversion contracts totaling S$219 million.
• Zhoushan shipyard remains on track for expansion and contributions.
COSCO Corporation is a diversified group with core activities in shipping and shipping related services. [+]
• Net profit after tax rose 17.7%.
• Gross profit margin improved from 6.7% to 8.0%.
• Debt equity ratio lowered from 0.7 times to 0.3 times.
• Inventory turnover improved from 41 days to 29 days.
Excelpoint Technology Ltd is one of the region's established electronics component distributors and an emerging player in the design innovation and technology development industry. [+]
Subsidiary, Jiangsu Penyao Environmental Engineering Contract Co., Ltd and associated companies, Nantong Water Holdings Pte Ltd and Nantong Penyao Water Supply Co., Ltd have entered into an Equity Investment Agreement with Lionguard Investments Limited, SIIC Investment (Shanghai) Co., Ltd and SIIC International Investment (BVI) Limited.
SIIC Shanghai will subscribe for 30% of the registered capital in Nantong Penyao for an aggregate amount of RMB40.35 million.
The main intended use of the Investment Amount is for the purpose of meeting the requirements of Nantong Penyao's working capital in the initial stage of the water supply build-operate-transfer project which the Company clinched in 2004.
Asia Environment Holdings Ltd is one of the leading integrated water and wastewater treatment solution providers in the People's Republic of China. [+]
• S$1.5M profit in 1Q FY2006 from S$1.5M loss in 1Q FY2005.
• Second consecutive quarter of profitability - quarter-on-
quarter growth from S$0.3M to S$1.5M.
• Order book of S$270.8M, inclusive of S$101.5M new orders in 1Q FY2006.
Singapore Computer Systems is a leading information and communications technology service provider in Asia. [+]
• Full capacity utilization at Aluminium Alloy Division.
• Revenue up 28.5% to S$21.4 million (including maiden
contribution of S$3.4 million from Agency and Procurement Division).
• Net Profit up 6.9% to S$4.4 million.
• EPS up 7.4% to 0.58 Singapore cents.
• NAV at 12.27 Singapore cents.
• Propose interim dividend of 0.25 Singapore cents per share.
Midas is a leading manufacturer of aluminium alloy extrusion products and PE pipes, primarily for the transportation and infrastructure sectors in the PRC. [+]
JEL Corporation (Far East) Pte Ltd, a wholly-owned subsidiary, has recently signed an agreement with Proctor & Gamble International Operations Pte Ltd, for the appointment as an authorized distributor for Myanmar.
Last year, P&G and Gillette underwent a merger exercise. The merger paths the way for the combination of Gillette's and P&G's healthy brand franchises and core strengths.
Pursuant to the merger, JEL Corporation will distribute additional 10 brands from P&G in Myanmar from 1 July 2006. The enlarged portfolio of 13 brands includes Gillette, Oral-B, Duracell, Pantene, Head & Shoulders, Clairol, Rejoice, Pringles, Pampers, Whisper, Oil of Olay, Zest and Ivory.
JEL Corporation is a leading distributor of fast-moving consumer goods, consumer electronic, IT, photographic and telecommunication products, with distribution network spanning many emerging markets in Africa, Asia, Middle East and the Americas. [+]
MatrixView Limited has appointed Dr Krishnaswamy Thirumurthi to its Board of Advisors.
Dr Thirumurthi, 51, has over 27 years of industry experience and will be responsible for directing MatrixView's strategic technology initiatives and guiding application development to support the Company's aggressive growth plans.
Dr Thirumurthi undertook medical training in India and Ireland and developed a distinguished career in these countries. He has also led research teams in the United States conducting SPECT and PET studies.
MatrixView Limited is a core technology innovator that uses its patented Adaptive Binary Optimisation technology to provide unique architectural solutions to enterprises across the digital content management continuum. [+]
Genesis Capital Pte. Ltd. is the issue manager, while UOB Kay Hian Private Limited is the underwriter and placement agent for the IPO.
Of the 84 million shares offered, 5 million shares are available to the public for subscription while the remaining 79 million shares are for placement. The Invitation represents approximately 25% of Hengxin Technology's enlarged share capital of 336 million shares. At S$0.25 per share, Hengxin Technology is priced at a historical price earnings ratio of 11.4 times, based on the Group's historical net earnings per share of 2.2 Singapore cents or 10.9RMB cents for FY2004.
The IPO closes at 12.00 noon on 9 May 2006. Trading of Hengxin Technology's shares, in board lots of 1,000 shares, will commence on a "when issued" basis on 11 May 2006.
Based in Jiangsu Province, Hengxin Technology achieved the highest sales for RF coaxial cables for mobile communications among all such manufacturers in the PRC in 2004 and 2005, making it the largest market player in this segment. [+]
• First project, with an estimated investment of S$9.6m and total recurring revenue of S$4-5m per year, is second phase of existing 60,000m3/day BOT project.
• Second project, with an estimated project investment value of S$19.2m and total recurring revenue of S$5.5-7.0m per year, is to supply 100,000m3/day of water to residents and industries, including a large planned brewery.
• Existing project, officially commissioned on April 28,will contribute S$4-5m in revenue annually for 22 years.
Darco is a provider of integrated engineering and knowledge-based water treatment and environmental engineering solutions. [+]
AsiaPharm Group Ltd. net profit attributable to shareholders leapt 33.0% to RMB 20.7 million for the first quarter of financial year ending 31 December 2006 compared to 1Q2005, on strong demand for its pharmaceutical products.
Testament to the success of the Group's strategic objectives to re-align its revenue mix, earnings per share jumped 31.4% to 5.02 RMB cents for 1Q2006 from 3.82 RMB cents in 1Q2005.
Net assets per share increased 6.1% to 89.78 RMB cents as at 31 March 2006 from 84.62 RMB cents I as at 31 March 2005. Cash and cash equivalents remained healthy at RMB 79.9 million, up 13.5% from RMB 70.4 million as at 31 December 2005.
AsiaPharm is a leading specialty pharmaceutical group in the People's Republic of China focusing on the research and development, production and sale of natural drugs and drug delivery systems. [+]
Oculus Limited has been successful in one of its earlier patent application relating to its color lens manufacturing technology. The Group has been steadily increasing investments in the R&D, manufacture and marketing of its core color lens products. Last year, the Group also filed patent application related to its new FreshKon® Alluring Eye product that has been growing in popularity amongst consumers in markets such as Hong Kong, Taiwan, Japan, China, Singapore and Malaysia.
Oculus Limited is focused on the innovation, manufacture and marketing of color lenses principally under the FreshKon® brand. [+]
China Essence entered into an Asset Transfer Agreement with Mu Dan Jiang Cheng Ku Information Technology Co., Ltd, an unrelated third party, on 2 May 2006 to purchase certain properties and land for RMB40.0 million, which will be used to establish a new production plant for the production of 18,000 tonnes of modified starch per annum.
The Company has incorporated a subsidiary, Heilongjiang China Essence Potato Industry Company Limited with an issued capital of US$30 million to hold the assets. Heilongjiang China Essence is held through another newly -incorporated subsidiary of the Company, Honour Wealth International Limited. The Company plans to commence production by the third quarter of this year.
China Essence is a leading integrated producer of potato starch and potato starchbased products such as vermicelli, starch strips and five-grain noodles in the PRC. [+]
• Dubai project secured following recent setup of office in U.A.E.
• District cooling system will supply chilled water to 117 condominium blocks in luxurious Discovery Gardens project.
• U.A.E. brimming with opportunities for CNA.
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. [+]
With the acquisition of the "Goya" assets in the Philippines completed on 1 March 2006, Petra Foods gained not only an immediate presence in the Philippines chocolate confectionery market but also an opportunity to concentrate the Group's chocolate manufacturing facilities in Indonesia and Philippines, which are SE Asia's two largest chocolate confectionery markets. Petra Foods will be supplying the other regional markets from these two locations.
Petra Food Limited and its subsidiaries is one of the world's major manufacturers and suppliers for premium cocoa ingredients, namely cocoa powder, cocoa butter and cocoa liquor. [+]
• Higher-margin product mix drove the improvement in profitability.
• Successful launch of sea-island short fibre (feedstock for high-end synthetic leather) in January 2006 was a strategic milestone for the Group.
• Testing and trial production of high-end synthetic leather are expected to begin in the second quarter of 2006.
FibreChem is a chemical fibre manufacturer in the Fujian Province of the PRC. [+]
"..We plan to continue to invest in R&D to broaden and deepen our capabilities in the color lens segment and build up our color lens related intellectual assets which we believe will help us compete more effectively in the global market..."
Mr Siew Chee Meng
Executive Chairman and CEO