28 August 2006      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
 Synear
186,065 
 Wilmar
130,259 
 Sing Tel
114,266 
 Gallant
93,774 
 SingPost
69,549 
Weekly movement as at 25 August 2006
WEEK'S TOP GAINER
 Name
Price  
Chg 
 Creative 50
10.900 
+1.650
 KepCorp
15.400 
+0.600
 APB
15.500 
+0.600
 Shang Asia 2kHK$
15.900 
+0.300
 SC Global
1.890 
+0.250
Weekly movement as at 25 August 2006

 
HEADLINES FOR THE WEEK
AusGroup: FY06 Net Profit Up 65% To A$11.3 Million
Rotary Eng:
Awarded $24 Million Contract To Biodiesel Plant On
Jurong Island
Hartford: FY06 Net Profit Up 258% To $1.2 Million
Micro-Mechanics: FY06 Net Profit Up 42% To $7.73 Million
Longcheer: FY06 Net Profit Up 101% To RMB224.5 Million
Super Coffeemix: Forms US$5 Million JV With China Lifestyle In
China


Sun East: FY06 Net Profit Up 21% To HK$72.9 Million
K1 Ventures: FY06 Net Profit Up 211% To $175.6 Million
Jaya Holdings: FY06 Net Profit Up 25% To $107.3 Million
Koda: FY06 Net Profit Up 58.5% To US$4.7 Million
Creative: Apple To Pay US$100 Million Under Settlement
Lion Teck Chiang: FY06 Net Profit Up 73% To $5.2 Million
ISG Asia: In $392.7 Million Reverse Takeover Deal By Indonesian
Salim Group
 
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HOT Off The Press

Tai Sin FY06 Net Profit Up 112.11% To $11.23 Million


Group revenue rose to $183.41 million, an increase of 36.52% from $134.35 million in the previous year. Operating profit before taxation more than doubled from $7.25 million in 2005 to $14.45 million in the current year. The Group's profit after taxation attributable to shareholders stood at $11.23 million, an impressive 112.11% improvement from $5.29 million in 2005.

The Group's performance will still be very much underpinned by the growth in the building and construction industry in Singapore and the ASEAN region. The Singapore economy is powering ahead with encouraging growth numbers in construction and real estate whilst the market sentiments in Malaysia is still of a cautious mood. Cable and wires division will remain as the Group's core business and the largest contributor to revenue and profit.

The Group's foray into Vietnam through a joint-venture to establish a cable manufacturing plant will enhance its position in the years ahead. Further, it also aims to have a greater presence in the Middle-East region through a representative office in Dubai to tap on one of the fastest growing regions in the world.

Tai Sin Electric Cables Manufacturer Limited is a leading electric wires and cables manufacturer. [+]

MABE And Noble Seal $68 Million Facility For Ethanol Venture


Two leaders in the burgeoning ethanol market, Mid America Bio Energy and Commodity and Noble Americas Corp, a wholly owned subsidiary of Noble Group, announced on Friday August 18th, in New York, that Horizon Ethanol Plant LLC, a company controlled by MABE, has finalized a US$ 68 million credit facility to support the first phase of the ethanol project. Located in Cambridge, Nebraska, the plant will have an initial capacity of 44 million gallons per year.

The arranger of the credit facility is SG America Security LLC and Societe Generale is the administrative agent and lender with Hillcrest Bank as co-agent and loan participant. Delta T is the provider of the license and The Industrial Company of Steamboat Spring is the EPC contractor responsible for the construction of the plant. In its continued bid to be among the dominant players in the US ethanol business, Noble Americas, an investor in MABE, will market the entire ethanol output.

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

DMX Receives Cisco China's Fastest Growth In 2006 Award


DMX Technologies Group Limited fully own subsidiary, Beijing DMX Technologies Co., Ltd. has been awarded the Fastest Growth category by Cisco Systems in China, in the recently held Cisco's Channel Partner Conference in Yunnan Province, PRC, in August 2006.

In addition, Beijing DMX also won the Northern Region's award for the Best Solution category. DMX received this second award for its innovative Cable TV solution which incorporated Cisco's Multi-service Transport Platform technology.

Cisco's Channel Partner Conference is an annual event held by Cisco China to promote channel marketing program in the country. The competition is open for all Gold Certified Partners, Silver Certified Partners, Specialized Partners, Registered Partners, Advanced Technology Providers and SMB Select Partners, who are collectively grouped into five geographical regions. Beijing DMX is a Cisco Gold Certified Partner.

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

JEL Adds Bulgari To Its Luxury Watch Distribution Portfolio


JEL Corporation (Far East) Pte Ltd, a wholly-owned subsidiary, has been recently appointed by one of the global players in the luxury watch market, Bulgari, as an authorized representative for Myanmar.

After marking almost a century of history in jewellery, Bulgari made his debut in the world of watches at the beginning of the 70's, by combining the prestige of Italian style with Swiss expertise. Simplicity, harmonious proportions and innovative designs, together with the perfection of the mechanisms, characterize a rich range of distinctive timepieces, including classic, sports and ladies' models.

JEL Corporation (Holdings) Ltd. is an established distributor of FMCG, Consumer Electronic, IT, Photographic, Mobility products and Timepieces, with distribution networks spanning many emerging markets in Africa, Asia, the Middle East and the Americas. [+]

Vita Holdings Records Full Year Revenue Of S$22.9 Million


Vita Holdings Limited reported revenue of S$22.9 million and a net profit of S$0.6 million for the full year ended June 30, 2006.

The Group intends to continue to focus on developing its core Property Leasing and Management business while controlling costs and managing its yield for its Ship Chartering business. With the acquisition of a 51% stake in J.L. Chancellor Pte Ltd in July 2006, the Group is now engaged in a new business venture of Sales and Marketing of Coal. Given the current strong demand for coal, the Group expects this business to add a new stream of steady earnings.

Vita is a diversified group with shipping, property leasing and management and coal trading interests. [+]

Super Coffeemix Increase Investment In JHS Holding Pte. Ltd.


Super Coffeemix Manufacturing Ltd has subscribed for 49,950 shares for cash of S$49,950 in the capital of JHS Holding Pte. Ltd.

Following the subscription, the issued and paid up capital of JHS increased from S$100 to S$100,000.

JHS is a joint venture company formed by the Company and Tee Yih Jia Food Manufacturing Pte Ltd with equal equity interest. The principal activity of JHS is that of an investment holding company.

Super Coffeemix Manufacturing Ltd is an integrated manufacturer of instant beverages and popular convenience food products headquartered in Singapore. [+]

RafflesEducationCorp Posts Record Full Year Net Profit Of S$32.7 Million


•  Revenue increases 51.6% to $90.1 million.

•  Net profit jumps 89.2% to S$32.7 million.

•  Proposes final dividend of 1.8 Singapore cents per share.

•  Proposes dividend in specie of 1 Hartford share for every 12 REC shares.

•  Proposes 1 to 2 share split to increase liquidity.

RafflesEducationCorp is the leading education group in Asia. [+]

Olam Announces The Acquisition Of A Peanuts Shelling And Processing Unit, Senwes In South Africa


Senwes has operations in various sectors such as the grain industry, provision of agricultural services, trade and retail, the mechanization market and as insurance brokers in the Free State, North West, Northern Cape and Gauteng provinces. It's extensive and strategically located silo infrastructure has a capacity of 4.6 million tons and constitutes more than 25% of the overall South African commercial storage capacity. Senwes silos handle about 32% of the country's grain and oil-seeds. For the year ended 30th April, 2006, it had a Sales Revenue of 3,979 million Rand and a NPAT of 107 million Rand.

The peanut shelling and processing unit that Olam has now acquired from Senwes is one of the largest factories of its type in the country and is located in the centre of the peanuts growing area of Free State province. The unit can process 20,000 MT of In-shell peanuts every year. At current prices, this translates to Sales Revenues of US$20 million with prospects to enhance capacity going forward.

Olam is a leading global integrated supply chain manager of agricultural products and food ingredients. [+]

OCBC Bank Becomes Shareholder Of Advance SCT


Oversea-Chinese Banking Corporation Limited has converted S$1 million as part of the convertible loan facility into shares of Advance SCT Limited.

A total of 3,060,000 ordinary shares was issued at a conversion price of S$0.3267 per share with effect from 9.00 am on 25 August 2006. The new shares represent 1.45% of the existing shares issued by the Company (210,701,000 shares) and will represent approximately 1.43% of the enlarged shares issued (213,761,000 shares).

Advance SCT Limited is a leading integrated copper supply chain management and recycler in the region. [+]

Addvalue Technologies Raises S$3.15 Million To Enhance Working Capital


Addvalue Technologies Limited is raising an estimated S$3.15 million via placement of 30 million new ordinary shares at an issue price of S$0.0559 to Rising Flame International Limited, and a convertible loan of S$1.47 million with Value Monetization Ltd to enhance working capital.

The net proceeds from the placement and convertible loan, amounting to approximately S$3.15 million, will be utilised for Addvalue's working capital purposes and for satellite communication investment projects.

Addvalue Technologies Limited is leading one-stop digital, wireless and broadband communications technology products innovator, which provides comprehensive satellite communication solutions, tracking and telemetry communication solutions and digital wireless design services. [+]

 



Raffles City's Potential Asset Enhancement Plans



CapitaMall Trust and CapitaCommercial Trust have jointly developed an asset enhancement plan for Raffles City, a prime integrated development located in the Downtown Core of Singapore, which can potentially increase its retail Net Lettable Area by between 150,000 and 200,000 sq ft from the current 356,000 sq ft to between 500,000 and 550,000 sq ft.

The plan to increase the retail NLA is intended to be executed through the reconfiguration and optimisation of space, by shifting lower yielding space to higher yielding space, and is expected to deliver a return of investment of approximately between 20% to 29% on an ungeared basis.

CapitaMall Trust is the first listed real estate investment trust in Singapore. [+]

Fabchem Approval Obtained For Construction Of Manufacturing Facility


Fabchem China Limited wholly-owned subsidiary, Shandong Yinguang Technology Co., Ltd. had received a letter of approval from the Commission of Science, Technology and Industry for National Defense on 16th August 2006 to design and construct a manufacturing facility for the production of up to 60 million units of piston non-electric detonators per annum.

The new manufacturing facility will be located in Shandong Province, Linyi City, Fei County, along with current manufacturing facilities, with an estimated built up area of approximately 8,000 square metres. The design and construction of the new manufacturing facility, including building, machineries and equipments, will be funded from our Company's net IPO proceeds and is estimated to be approximately RMB 20 million.

Fabchem is one of the leading manufacturers of commercial explosives in China. [+]

Salim Group Subsidiary Acquires 21.6% Stake In Food Empire


Food Empire Holdings had placed 39,200,000 shares at S$0.57 to Universal Integrated Corporation Consumer Products Pte Ltd. The placement is equivalent to approximately 10% of the Group's existing share capital. Substantial shareholders of Food Empire have also agreed to sell an additional 54,000,000 shares to UICCP. At the completion of the transactions, UICCP will be Food Empire's second largest shareholder with a 21.6% stake in the Group.

UICCP is a company incorporated in Singapore and is ultimately owned by the Salim Group. The Salim Group is one of the largest conglomerates in Asia with interests in the food processing industry including, among other areas, the manufacturing of instant noodles.

The placement of new shares by the Company will raise more than S$22.3 million which will be used by Food Empire for working capital and to grow its business through new projects.

Food Empire Holdings is a leading food and beverage company that manufactures and markets instant beverage products, frozen convenience food, confectionery and snack food. [+]

FibreChem Loan Facilities


FibreChem Technologies Limited has entered into a USD 35 million syndicated loan agreement on 18 August 2006. The Syndicated Loan has a term of 3 years with an option to extend for a further 2 years. The lead arranger of the Syndicated Loan is Oversea-Chinese Banking Corporation Limited. Seven participating banks joined this transaction.

In addition to the Syndicated Loan, the Company has accepted an offer from United Overseas Bank Limited on 21 August 2006 for a USD 10 million term loan, which has a term of 3 years.

The proceeds from the Syndicated Loan and Term Loan will be used to fund the expansion of existing production capacities of the Company's nylon-polyester bi-component fibre products and the resultant growth in working capital requirements.

FibreChem is a chemical fibre manufacturer in the Fujian Province of the PRC. [+]

ASL Marine Records 69.8% Increase In Net Profit With Strong Revenue Growth


•  FY2006 net profit rose 69.8% to S$23.1 million on the back of a 42.0% growth in revenue to S$197.7 million.

•  Higher revenue and profitability recorded by all three segments of shipbuilding, shiprepair and shipchartering operations.

•  Rewards shareholders with record dividend of 2.2 cents per share.

•  New 150,000 dwt graving dry dock in Batam to begin contribution in FY2007.

ASL Marine is principally engaged in shipbuilding, shiprepair, shipchartering and other marine related services, catering to customers from Asia Pacific, South Asia, the Middle East and Europe. [+]

IQ Group Sdn Bhd Appointed Teknologi E-S Sdn Bhd, A Wholly Owned Subsidiary Of Esmart Holdings Limited To Design Its CCPC Project


Esmart Holdings Limited wholly owned subsidiary, Teknologi E-S Sdn Bhd has been appointed by IQ Group Sdn Bhd to coordinate, manage and design IQ-group's CCPC Project which includes any product consisting of a camera function as a visual and audio device and relaying it via a wireless system to a receiver terminal. The said receiver terminal shall have the function of a display of any kind, recording and playback function.

IQ-group is an established supplier to a number of leading retail distributors in the UK and has also achieved "Category Supplier" status in some major retail outlets. IQ-group is well known for its Passive Infrared Sensors technology to detect the movement of people within the sensors' field of view. This Passive Infrared Sensor detects externally generated signals but does not in itself broadcast or generate a signal.

Esmart Group is principally engaged in the design and supply of intermediate products for the multimedia infotainment, data communications, automotive electronics, wireless applications, and digital video services and systems segments of the electronics industry. [+]

Tat Seng Packaging Proposed Acquisition Of 80% Of The Equity Share In Hefei Dansun Packaging Co Ltd


Tat Seng Packaging Group Ltd has entered into a conditional sale and purchase agreement with Mdm Cheng Ping to purchase 80% of the equity share in Hefei Dansun Packaging Co Ltd.

Dansun is incorporated in Hefei City, Anhui Province, China in July 2003 and has a paid up share capital of RMB15,000,000. Dansun is a corrugated paper carton manufacturing company located at Hefei Economical Technical Development Park. At full capacity, Dansun can produce 25 million square metres of paper board products annually. The existing clients of Dansun include Unilever China, Haier, Yili and Mengniu.

The aggregate consideration for the Transaction is RMB 17,900,000.

Tat Seng Packaging Group Ltd is one of Singapore's leading manufacturers of corrugated paper packaging products. [+]

Oniontech Service Agreement With KTF To Provide Master Contents Provider Service On Main Browser For Wireless Internet Portal Contents


Oniontech Co., Ltd, a wholly-owned subsidiary of the Company, entered into a service agreement with KT Freetel Co.,Ltd, the second largest telecommunication company in Korea, on 24 August 2006 to provide Master Contents Provider services on the main browser to allow KTF mobile phone subscribers to have wireless access to internet portal contents, a service formerly named "MagicN".

OT Korea has developed and rolled out this program since March this year, and will receive
payment of KRW650 million for providing the first stage of this service for six months from October 2006 to March 2007.

KTF mobile phone subscribers will be able to access the various mobile contents more easily with this new version of the main wireless internet portal browser. KTF plans to test this service on 1 September 2006, and expects to launch the new service on 15 September 2006.

Oniontech Limited is a provider of software solutions and content-related services for value added services in mobile telecommunications. [+]

CAO Jet Fuel Procurement Tender - October To Early November 2006 Deliveries


In the latest tender, CAO received responses from 13 physical jet-fuel suppliers. It has awarded cargoes to 9 suppliers. For this tender, total volume of 590,000 metric tonnes of A-1 Grade Jet Fuel was awarded. The cover ratio for the awarded cargoes was approximately 2.3 times. BP exercised its pre-emption right for the first time since the implementation of the Business Cooperation Agreement. However, the pre-emption volume was confined to one cargo only.

This latest tender is the largest in terms of volume since CAO resumed its procurement of jet fuel under the principal model since 26 May 2006.

From January to early November 2006, the total tender volume is 3.9 million metric tonnes, a 44% increase from 2.70 million metric tonnes for the same period in 2005.

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


CEO's Walk The Talk

"..The outstanding performance and achievements of Beijing DMX attest to the innovative spirit we have at DMX, such as the Cable TV initiative. I would also like to take this opportunity to extend my appreciation for the contribution and commitment of our fine technologists and dedicated staff in Beijing DMX. I am confident that Beijing DMX will build on this solid foundation to excel in the future..."
Mr Giang Phung
Chief Executive Officer
DMX Technologies Group Limited.



Highlighted Company


Incorporated in Singapore in 1980, Tai Sin Electric Cables Manufacturer Limited ("Tai Sin") is a leading electric wires and cables manufacturer. Tai Sin was listed on the then Stock Exchange of Singapore SESDAQ on 23 April 1998. The Company's listing was transferred to the SGX Main Board on 16 May 2005 after many years of success and growth.

From a single company manufacturing cables, the Company has expanded and diversified steadily over the past two decades and is now involved in electrical distribution, lamps manufacturing, assembly of switchboards and supply of sanitary wares through Tai Sin Group of Companies.

The Group has subsidiaries and offices located in Singapore, Malaysia, Brunei, Vietnam and New Zealand providing quality services and products to its diverse customers worldwide.





































Historical Price Data
 Date Open High Low Close
Volume  
 25 Aug 2006  0.165  0.165  0.160  0.160
530,000 
 24 Aug 2006  0.170  0.170  0.160  0.165
1,839,000 
 23 Aug 2006  0.155  0.155  0.150  0.150
222,000 
 22 Aug 2006  0.150  0.150  0.150  0.150
72,000 
 21 Aug 2006  0.145  0.150  0.145  0.145
173,000 

Fundamentals
Historial EPS ($) a
  0.04498
Rolling EPS ($) e
  0.04500
NAV ($) b
  0.2351
Historical PE
  3.557
Rolling PE f
  3.556
Price / NAV b
  0.681
Dividend ($) d
  0.010000
52 Weeks High
  0.170
Par Value ($)
  SGD 0.100
Dividend Yield (%) d
  6.250
52 Weeks Low
  0.120
Market Cap (M)
  39.944
Issued & Paid-up Shares c
  249,650,000
 
a Based on latest Full Year Results Announcement
b Based on latest Results Announcement (Full Year, Half Year or Interim)
c Rounded to the nearest thousand. Updated on 24/08/2006. Please click here for more information.
d Dividend is based on latest Full Year Results Announcement and excludes special dividend
e Summation of the earnings from the latest 4 Quarter (or 2 Half Year) results announcement, adjusted for the current number of shares.
f Based on rolling EPS

Newsroom
23 Aug 2006 Full Year Financial Statement And Dividend Announcement
03 Aug 2006 Disposal Of Subsidiary
20 Jul 2006 60% Owned Joint Venture Subsidary Company In Vietnam Known As Dien Quang - Tai Sin Cable Company Limited Established
05 May 2006 Announcement Of Acquisitions And Realisations Of Assets
10 Feb 2006 Half Year Financial Statement And Dividend Announcement



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