4 September 2006      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
 Bio-Treat
201,254 
 Synear
165,910 
 THBEV
160,020 
 SingTel
123,000 
 UTAC
90,290 
Weekly movement as at 1 September 2006
WEEK'S TOP GAINER
 Name
Price  
Chg 
 GreatEast
16.700 
+0.600
 DBS
18.100 
+0.500
 SIA
13.700 
+0.400
 Sp Land
7.050 
+0.350
 Capitaland
4.800 
+0.320
Weekly movement as at 1 September 2006

 
HEADLINES FOR THE WEEK
Wing Tai: FY06 Net Profit Up 424% To $128 Million
FJ Benjamin: FY06 Net Profit Up 139% To $10.2 Million
Wilmar: 1H FY06 Net Profit Up 39% To US$32 Million
Parkway: Teams Up With Khazanah In RM1.42 Billion Deal To Privatise Pantai


Chartered: To Commence Production Of 45-Nanometre Chips By
End Of 2007
China Enersave: To Build A Third Plant Costing 250 Million Yuan In
China
Ellipsiz: FY06 Net Profit Up 145% To $26.1 Million
Ministry Of Finance: Mandatory Quarterly Reporting For Listed
Companies Exceeding $75 Million In Market Capitalisation

 
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HOT Off The Press

China Printing & Dyeing Launches IPO to Fund Expansion Plans


China Printing & Dyeing Holding Limited has launched its initial public offering of 113,435,000 Invitation Shares at $0.27 per share, in connection with its proposed listing on the Mainboard of the Singapore Exchange Securities Trading Limited.

The Offer will close at 12 noon on 5 September 2006. Trading of the shares is expected to commence on 7 September 2006. Kim Eng Capital Pte. Ltd. is the manager, underwriter and placement agent for the IPO.

China Printing & Dyeing is principally engaged in the production and sales of print and dye textile products and the provision of printing and dyeing services. [+]

OKP Holdings Award Of Contracts


The tender for Additions of Single-Storey Workshops to Existing Industrial Development on Lots 5987 (Plot A3625) MK5 at No 13 Pandan Crescent Singapore 128469 by Or Kim Peow Contractors (Private) Limited, a wholly-owned subsidiary of the Company, has been accepted by Tiong Woon Crane & Transport Pte Ltd. The total Contract Sum is $1,330,000.

The tender for the Proposed Design and Construction of Choa Chu Kang Park Connector (From Choa Chu Kang Park to Little Guilin) by Eng Lam Contractors Co (Pte) Ltd, a wholly-owned subsidiary of the Company, has been accepted by the National Parks Board. The total Contract Sum is $2,667,000.

The total value for the above contracts is $3,997,000.

OKP Holdings Limited is involved in the construction and maintenance of roads in Singapore. [+]

Incorporation Of Wholly-Owned Subsidiary China Precision Technology Kabushiki Kaisha


China Precision Technology Limited has incorporated a wholly-owned subsidiary, China Precision Technology Kabushiki Kaisha in Japan on 21 August 2006, a company with a registered capital of JPY 10.0 million.

The principal activities of CPTKK are to participate in research and development of new products in relation to consumer electronics, telecommunication and automotive industries and engage in market development, participate in projects, trading and provisioning of services in relation to consumer electronics, telecommunication and automotive industries.

China Precision Technology Limited is an integrated manufacturing services provider for the consumer electronics, office automation equipment, telecommunication and automotive industries. [+]

Biosensors International Names Chua Kee Lock President


Biosensors International Group, Ltd. announced the appointment of Mr. Chua Kee Lock as President, effective 1 September 2006.

Mr. Chua, a member of Biosensors' Board of Directors since January 2005, will continue to serve as an Executive Director on the Board and will have direct responsibility for the Company's operations and finance functions, including sales and marketing, manufacturing, quality assurance, and financial management. He will report directly to Mr. Lu Yoh-Chie, Chairman and Chief Executive Officer.

Mr. Chua has more than 12 years of senior executive and operations experience in a variety of industry settings. He comes to Biosensors from Walden International, a US-headquartered venture capital firm, where he had been a Managing Director since 2003. He also served in senior executive roles at several Singapore-listed companies, including Deputy President of NatSteel Ltd., an industrial products company active in Asia Pacific, President and Chief Executive Officer of Intraco Ltd., a trading and distribution company, and President & Co-Founder of MediaRing.com, a company providing voice-over-internet services.

Biosensors develops, manufactures and markets innovative medical devices used in interventional cardiology and critical care procedures. [+]

Advance SCT To Build One Of The World's Largest Copper Refinery


Advance SCT Limited announced plans to build the world's largest copper refinery plant in Singapore.

Construction work is expected to commence in December 2006 and completed by December 2007. When completed, the new plant will be equipped with state-of-the-art refining and manufacturing facilities. The annual production capacity of the plant is expected to be approximately 36,000 tonnes.

The Group also announced record revenue of S$115 million for FY06, which represents a 239% increase over the previous corresponding period. Net profit remained stable at $3.8 million.

Advance SCT Limited is a leading regional integrated Material Supply Chain Management company with related businesses in Printed Circuit Board Testing services. [+]

Portek Posts Net Profit Of $9.3m As Revenue Exceeds $100m For The First Time


For the latest 12 months ended 30 June 2006, Portek recorded a 53.5% growth in revenue to $114.6 million as the Group continued its expansion into relatively new markets such as Latin America, Europe and North Africa.

Directors are recommending a first and final dividend of 1.91 cents which, if approved, will be paid to shareholders on 17 November 2006.

The Portek Group is a turnkey provider of equipment, services and solutions for the global port industry, as well as an operator of container and bulk terminals. [+]

Advanced Completes Acquisition Of Analyzer System Expert


On 7 August 2006, Advanced announced a conditional agreement to acquire the entire 80% issued share capital of Singapore-based Control & Application Asia Pte Ltd for S$1.06 million in cash. The consideration is at a 11% discount from 80% of the audited Net Tangible Asset based on CAE's Net Asset Value of S$1.19 million as at 31 December 2005.

With the completion of the acquisition, the CAE team, led by Managing Director Koh Yee Tiong, has become part of Advanced.

CAE's core businesses are the provision of process analyzer packages and solutions with established presence in countries such as Thailand, Taiwan, India, Russia, Vietnam and Indonesia.

Advanced Holdings Ltd. is a specialist company which designs and supplies process equipment to cater to the different needs of its customers in the chemical and petrochemical, oil and gas, power generation and micro-electronics industries. [+]

TT International Proposed Acquisition Of TEAC Australia Pty Ltd


TT International Limited had on 31 August 2006, entered into a conditional Share Sale and Purchase Agreement with TEAC Corporation Japan for the sale and purchase of 3,000,000 shares in the capital of TEAC Australia Pty Ltd. TT International will acquire 100% of the issued and paid-up share capital of TEAC Australia from TEAC Japan. On completion, TEAC Australia will become a wholly-owned subsidiary of the Company.

TEAC Australia is a company limited by shares that is incorporated and domiciled in Australia. The principal activities of TEAC Australia are those relating to marketing and distribution of consumer electronic products, mainly under the "TEAC" brand.

TT International's core businesses are the sourcing, trading and distribution of branded electrical and electronics products, marketing, sale and brand management of its AKIRA brand of consumer electronics products and complemented by third-party warehousing & logistics services. [+]

Shanghai Turbo Forms Strategic Alliance With Leading PRC Research Institute


Shanghai Turbo Enterprises Ltd. wholly owned subsidiary, Changzhou 3D Technological Complete Set Equipment Co., Ltd., has officially launched a strategic alliance with the Institute of Engineering Thermophysics situated in Beijing, Peoples' Republic of China on 1 September 2006.

The Alliance has been entered into between the Group and IET to jointly research, design and develops new components for the enhancement of efficiency and output of small-scale turbine power generators capable of generating up to 2500 to 3000 watts of electricity. These small-scale power generators are widely used in the PRC aviation industry as well as for power generation in rural areas. The products may also find uses in military applications.

Shanghai Turbo is a precision engineering group that specialises in the production of precision vane products, namely stationary vanes, moving vanes and nozzles. [+]

 



MMI Net Profit Doubles To US$48.6M, 3rd Consecutive Record Year



MMI Holdings Limited achieved a record net profit of US$48.6 million for FY06, which is a 104% jump compared to the previous financial year. Revenue rose 23% to US$511 million on the back of healthy growth in both the Contract Manufacturing Group and Systems Group.

To reward shareholders for their continued support, the Board of Directors has recommended a final dividend of 2 Singapore cents per share, in addition to the 1.54 Singapore cents a share paid in the earlier quarters of FY06. Together, the total dividend payout will amount to US$13.3 million, or about 27% of the Group's FY06 net profit attributable to shareholders. This amount is 125% more than the total dividend payout in FY05.

MMI is a leading SGX-listed electro-mechanical contract manufacturer providing OEM and ODM contract manufacturing services for its strategic customers in multi-industries: data storage, photonics, communications, semi-conductor equipment, automotive and industrial automation. [+]

KS Energy Enters Indonesia By Refurbishing Oil Rigs For Charter


In a move to penetrate the Indonesian oil & gas sector, KS Energy has entered into a memorandum of understanding with PT Citra Tubindo Tbk to incorporate an Indonesian joint venture to manage the upgrading or refurbishment of onshore and offshore oil rigs in Indonesia as well as to procure charter contracts for these rigs. Through the upgrading and deployment of these operational rigs, the JV will contribute to the national objective of meeting the growing demand for capital equipment from the Indonesian oil and gas sector. The JV will be 75% owned by KS Energy with the remaining 25% stake held by PTCT.

In Indonesia, PTCT has been granted approval by the relevant authorities to establish an oil rig inspection centre on Batam Island to provide testing, technical inspection and mandatory certification of all drilling oil rigs operating in Indonesia. In addition, PTCT will set up a rig refurbishment facility on Batam Island to undertake engineering works in upgrading oil rigs. Both the oil rig inspection centre and the rig refurbishment facility are expected to commence operations by the end of this year.

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

Olam Reports Record Financial Results For Fourth Quarter And Full Year FY2006


•  Record FY2006 Revenues of S$4.36 billion, up 29.4%.

•  Record FY2006 Sales Volumes of 3.17 million tons, up 24.2%.

•  Record FY2006 After Tax Earnings of S$87.2 million, up 32.3%.

•  Board recommends a First & Final Dividend of 1.50 cents per share tax exempt (one-tier).

•  Board also recommends a Special Dividend of 1.50 cents per share tax exempt (one-tier).

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

Offer And Placement Of Between 172,845,000 And 179,821,000 New Units In CapitaMall Trust


CapitaMall Trust Management Limited, as manager of CMT, is issuing between 172,845,000 and 179,821,000 New Units so as to raise aggregate gross proceeds of S$401.0 million, in order to part finance CMT's acquisition of a 40.0 per cent. interest in Raffles City, with the balance of the proceeds to be used for CMT's working capital purposes.

DBS Bank Ltd and UBS AG, acting through its business group, UBS Investment Bank, have been appointed as the joint lead managers for the Equity Fund Raising and underwriters for the Private Placement.

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

Eu Yan Sang Proposes Total Dividends Of S$7.2m For FY06, Up From S$5.7m Previously


Eu Yan Sang International Ltd reported a 9% increase in revenue to S$173.4 million for the twelve months ended 31 June 2006.

With broad-based growth across all key business segments and a strong net operating cash flow of S$17.4 million (FY05: S$12.1 million), the Directors of the Group have recommended a record S$7.2 million in dividends payout to reward shareholders. This is a 25% increase over the S$5.7 million in total dividends paid for FY05.

Eu Yan Sang International Limited is a progressive, global healthcare company with its core focus in Traditional Chinese Medicine. [+]

CapitaMall Trust's Private Placement 2.6 Times Subscribed


CapitaMall Trust Management Limited, as the manager of CapitaMall Trust, is issuing up to 174.3 million new units in CMT through a Private Placement and an ATM Offering, so as to raise aggregate gross proceeds of S$401.0 million. The equity fund raising exercise is to part-finance CMT's acquisition of a 40.0% interest in Raffles City.

CMTML have received indications of interest of approximately 2.6 times subscription for the 165.7 3 million New Units available for subscription under the Private Placement, at the issue price of S$2.30 per New Unit, as at 6.00 p.m. on 29 August 2006.

The book-building exercise by the Joint Lead Managers, DBS Bank Ltd and UBS AG, acting through its business group, UBS Investment Bank, had commenced earlier on the same day morning. The total book of demand comprised over 80 quality long-term institutional investors from offshore US, Europe, Australia and Asia.

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

KS Energy Leases Seismic Exploration Vessel For US$21 Million On 2+2 Year Charter


KS Energy Services Limited has entered into a bare boat charter contract with Pacific Exploration Pte Ltd to lease a refurbished seismic exploration vessel for two years with an option for another two years.

The total lease payment over the four years is approximately US$21 million. The contract is expected to commence from 4Q FY2006. The Company will establish a 50:50 joint venture company with Pacific Exploration to own the refurbished seismic vessel.

Pacific Exploration Pte Ltd is a leading seismic data acquisition services provider operating in Asian waters. Mr Andrew James Cunningham, the Chairman and majority owner is a world renowned expert in marine seismic exploration with 30 years of experience in Asia Pacific. He is the current Chairman of the International Association of Geophysical Contractors, Singapore Branch. Pacific Exploration has existing contracts with Asian based national oil & gas companies for the charter period. Pacific Exploration will undertake to manage and maintain the seismic exploration vessel as well as all the seismic equipment onboard. Pacific Exploration will also provide its own crew to operate the vessel.

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

Sinomem Forays Into Rosin-Based Product Manufacturing Business


Sinomem Technology Limited 100% owned subsidiary, Suntar Investment Pte Ltd has entered into a joint venture with Fujian Wuping Luzhou Forest Chemical Co.,Ltd. to produce rosin-based chemicals by using Sinomem's proprietary processing technologies. The joint venture company, Rosin Chemical (Wuping) Co., Ltd. is 70%-owned by Suntar Investment. FWLFC owns the remaining 30% stake in the JVC.

The registered and paid-up capital of the JVC is US$2.1 million, of which Suntar Investment has contributed US$1.47 million in cash. FWLFC's 30% contribution in the JVC is in the form of operating tangible assets and its internationally recognized brand name " Ping Chuan" currently owned by it, which together are valued at US$0.63 million.

China is currently the main rosin product producer in the world, accounting for over 50% of global output and rosin is an ideal raw material to substitute crude oil to produce benzene-derivatives such as fragrance, camphor etc.

Sinomem Technology Limited is a leading integrated membrane technology company. [+]

 

CEO's Walk The Talk

"..Our successful twin strategy of specialization in the HDD sector and diversification into non-HDD industries has paid off as we achieved an all-rounded growth in every business segment. This is the third consecutive year in which we achieved both record revenue and profit. Our gross margin also improved due to higher capacity utilization and a better product mix..."
Mr Teh Bong Lim
Managing Director
MMI Holdings Limited



Highlighted Company


Super Coffeemix Manufacturing Ltd is an integrated manufacturer of instant beverages and popular convenience food products headquartered in Singapore. Super Coffeemix was listed in the Singapore Exchange in 1994, and subsequently achieving Mainboard listing status in 1998. The Group achieved record highs in net profit attributable to shareholders, which grew 64 percent to reach S$18.2 million, and in revenue, which climbed to S$171.9 million for the financial year 2004.

Adopting a global outlook, the Group operates internationally with manufacturing facilities in Singapore, Malaysia, China, Myanmar and Indonesia and a network of direct sales offices and distributors strategically located to reach Asia-Pacific and world markets.

The beverage range extends from coffee, tea, herbal tea to chocolate, cereal, drinks and fruit flavoured drinks. The convenience food range includes cup noodles, instant porridge, cream cake and mashed potatoes. The company's strengths in product innovation, quality control and market expansion have created a foundation for continued success into the future.





































Historical Price Data
 Date Open High Low Close
Volume  
 01 Sep 2006  0.510  0.520  0.505  0.520
209,000 
 31 Aug 2006  0.520  0.520  0.505  0.505
88,000 
 30 Aug 2006  0.510  0.520  0.505  0.520
217,000 
 29 Aug 2006  0.515  0.520  0.510  0.510
670,000 
 28 Aug 2006  0.520  0.520  0.505  0.505
132,000 

Fundamentals
Historial EPS ($) a
  0.04724
Rolling EPS ($) e
  0.04341
NAV ($) b
  0.3572
Historical PE
  10.902
Rolling PE f
  11.864
Price / NAV b
  1.442
Dividend ($) d
  0.016000
52 Weeks High
  0.630
Par Value ($)
  SGD 0.050
Dividend Yield (%) d
  3.107
52 Weeks Low
  0.405
Market Cap (M)
  254.020
Issued & Paid-up Shares c
  493,243,000
 
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 08/08/2006. 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
24 Aug 2006 Increase Investment In JHS Holding Pte. Ltd.
21 Aug 2006 Press Release - China Lifestyle and Super Coffeemix in joint venture to target RMB 25.2 billion PRC snacks market
11 May 2006 Miscellaneous :: Press Release - Super Coffeemix Increases Market Share In Southeast Asia Markets
11 May 2006 First Quarter Financial Statement And Dividend Announcement
10 May 2006 Miscellaneous :: Change of Name Of An Associate Company, Sentosa Land Pte. Ltd.



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