16 October 2006      
Volume `000 
 HKLand US$
 Gen Int
Weekly movement as at 13 October 2006
 OmegaNav 50
 SIA 200
 BMT 100
Weekly movement as at 13 October 2006

Dayen: Clinched US$10.2 Million Cambodia Municipal Water
Treatment Plant Deal
Man Wah: Clinched US$11 Million Worth Of Orders From Trade
Google: To Buy YouTube For US$1.65 Billion In Stock
IDA: To Provide Public With Free Wireless Broadband Access In
Singapore For 2 Years
SGX: StreetTRACKS Gold Shares Begin Trading
FJ Benjamin: Sells Orange Grove Property For $37 Million To Ong
Beng Seng

China Kangda: To Supply Onion Rings Products To Best Food
Services In The United States
SGX: Starts New Investor Relations Professionals Association
Sino Techfibre: Launched IPO Of 200 Million New Shares At 56.5
Cents Each Raising $113 Million
Hyflux: Granted 25 Years Wastewater Treatment And Recycling
Concession In China, Hebei Province
OUE: Buys Remaining 50% Stake In Clifford For $212 Million
China Bearing: Launched IPO Of 61 Million Shares At 32 Cents Each
Raising $19.52 Million
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HOT Off The Press

Ezra Clinches FPSO Charter Contract Worth Up To US$400 Million; Forays Into India With AHTS Contract

EZRA Holdings Limited has obtained written confirmation of intent from an oil major to charter its Floating Production, Storage and Offloading facility for US$265.65 million.

EZRA expects to operate the FPSO for four years over FY2008-2011 at oilfields in waters in Southeast Asia. This charter contract comes with an extension option of up to 3 years, which when exercised, will raise the contract sum to about US$397.25 million.

In addition, Ezra offshore support vessel chartering division has secured a term charter contract for an Anchor Handling, Towing and Support vessel from an Indian conglomerate for operation in India. This contract marks its first entry into the Indian offshore support services market.

Ezra Holdings is an integrated solutions provider supporting the offshore oil & gas industry, mainly in South East Asia. [+]

Darco Water Secures S$12.85m Of New Projects

Darco Water Technologies Limited has secured S$12.85 million of new projects, which are expected to have a positive material impact on the revenue of the Group for the year ending 31st December 2007. This sum is equal to 23.4% of the Group's revenue in FY2005.

The largest of these new projects is a S$4.4 million contract from Showa Kankyo Systems (S) Pte Ltd for the design, engineering, construction, installation, testing and commissioning of a 22.2 cubic meter per hour UNOX wastewater treatment system in Showa Denko HD Singapore Pte Ltd's new 4th hard disk plant in Singapore.

Darco is a provider of integrated engineering and knowledge-based water treatment and environmental engineering solutions. [+]

EMC And ECS Enter Into Distribution Agreement For Singapore And Thailand

EMC Corporation, the world leader in information management and storage, and ECS Holdings Limited have signed a distribution agreement targeted at the burgeoning information management opportunities in the small and medium business segment in Singapore and Thailand.

ECS will distribute the entire range of EMC CLARiiON® networked storage solutions and EMC Insignia hardware and software products, to ECS' extensive network of resellers in both Singapore and Thailand.

The EMC-ECS partnership agreement comes on the heels of a newly refreshed EMC Velocity2 Partner Program in Asia Pacific launched in early September 2006. EMC's Velocity2 program, in which ECS is a member, offers its partners world-class products, system support, financing, certification programs and financial incentives for them to succeed in all markets and provides mutual benefits to both EMC and the partners who commit to EMC.

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

Aztech Drives The Next Generation In SKYPE Products With PC-Free SKYPE Cordless Phone

Following the successful launch of its Skype™ DECT in August, Aztech will be delivering the next generation of PC-Free Skype™ phone - V500DS, offering Skype™ users the ultimate convenience in mobility at homes or at offices.

The V500DS will make its first appearance at one of Asia's largest consumer trade shows, China Sourcing Fair and Hong Kong Electronic Fair starting on 11th October. Live presentations with demonstrations will be conducted at Aztech booth: Hall 8, 8E02 and Hall 5, 5G29 respectively.

Aztech Systems Ltd is a multi-national company providing OEM/ODM design and manufacturing services, contract manufacturing and retail distribution. [+]

Aztech Unleashes SKYPE Products At China Sourcing Fair & Hong Kong Electronics Fair (Autumn 2006)

Aztech Systems Ltd will showcase its latest range of Skype products at China Sourcing Fair and Hong Kong Electronic Fair this month. Both shows are held twice yearly and receive commendable visitorship from all corners of the globe especially South East Asia.

Aztech's primary focus is to showcase its latest suite of Skype products that include its world's 1st premiere of a DECT that does not require a computer connection to run Skype. The V500DS, PC-Free, embedded Skype is truly the next generation Skype DECT that redefines mobility while providing both Skype and traditional phone functionality in one cordless handset.

Aztech Systems Ltd is a multi-national company providing OEM/ODM design and manufacturing services, contract manufacturing and retail distribution. [+]

Advanced Holdings Incorporation Of Subsidiary In Thailand

Advanced Holdings Ltd. has incorporated wholly-owned subsidiary Advanced Process Equipment (Thailand) Co. Ltd. in Thailand.

Advanced Process Equipment is incorporated with an issued and paid up capital of 2 million Thai Baht divided into 20,000 ordinary shares of 100 Thai Baht each.

The principal activity Advanced Process Equipment is to supply process equipment and process technologies to customers in the petrochemical and chemical, oil and gas, power generation and micro-electronics industries.

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. [+]

Directors Of Union Steel Holdings Limited Seals Share Sale And Purchase Agreement With Six Key Investors

Union Steel Holdings Limited Executive Directors - Ang Yu Seng, Ang Yew Lai and Ang Yew Chye have signed a sale and purchase agreement with six key investors. These investors are Sam Goi Seng Hui, Super Coffeemix Manufacturing Ltd, Teo Kee Bock, Derek Goh Bak Heng, Ho Kian Huat and Te Kok Chiew.

The three Union Steel Executive Directors will sell a total of 72.2 million shares, representing about 20.8% of the Company's issued and paid up capital to the six investors.

Union Steel is an integrated metal recycling company and one of the largest metal recyclers in Singapore in terms of volume of metals recycled. [+]

KS Energy 4-Year Charter Of Skid Mounted Land Drilling Rig For US$8.1 Million

A joint venture of KS Energy will charter a skid mounted land drilling rig to a China National oil company for approximately US$8.1m in a 4-year contract, comprising an initial 3-year fixed term with an optional 1-year extension.

This is the third land rig that the JV will charter to the client. Two land drilling rigs under an earlier charter agreement are scheduled for delivery to the client this month.

With its electrical rotary table and higher mast, the Land Rig can conduct directional drilling and lift 3 pieces of drill pipes at one time, resulting in higher efficiency as compared to mechanical rigs, which can only do vertical drilling and lift 2 pieces of drill pipes at a time.

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

PCA Remained Profitable Amid Volatile EMS Industry

•  Turnover and net profit after tax lower in first six months.

•  Operating activities generated US$2.4 million cash.

•  Cash balance lower due to the payment of dividend, fixed asset purchase and repayment of term loan.

PCA Technology Limited is an Electronics Manufacturing Services provider serving major names in the global computer peripheral, telecommunication and consumer electronics industries. [+]

Asia Water Invests RMB256 Million Project To Build Water Infrastructure In Shandong Province, PRC

Asia Water Technology Ltd., together with its wholly-owned Subsidiary, Wuhan Kaidi Water Services Co., Ltd. shall incorporate a project company, Lv Liang Xinya Water Services Co., Ltd. with a registered capital of RMB98 million for the Project.

The Project value is estimated to be RMB256 million and is expected to be completed by end 2007. The Company shall invest RMB58 million for a 59.18% stake in Lv Liang Xinya, while Wuhan Kaidi Water shall invest RMB40 million for the remaining 40.82% interest.

The Project Company will Build-Own-Operate a supply solution of up to 20 million tones of water per year, with a long term capacity of 40 million tones per year. The project will entail the construction of a 60km main piping system, 4 reservoirs with a total capacity of 40,000 tonnes, a control and automation system, pump rooms and other facilities necessary for the supply of water to Lv Liang City in Shanxi Province.

Asia Water Technology Ltd. is a Singapore company engaged in the total engineering solutions for water purification and wastewater treatment systems. [+]


Aztech Enable Triple Play Solutions At Broadband World Europe

Aztech Systems Ltd is introducing its HomePlug Audio/Video 200Mbps Ethernet adapter and All-in-one ADSL2+ DECT VoIP Residential Gateway to the European market. Aztech will be showcasing its latest products at the Broadband World Forum, Europe in Paris, 9~12th October. Supported by a wide diversity in products ranging from ADSL products to IP Telephony solutions, the Group is focused on enabling triple play solutions catered for highspeed data, voice and audio distribution in homes or small/medium offices.

In 1995, the European sector proved to be the largest sales market for the Group and accounted for more than 40% of overall turnover. The European market is also seeing high adoption of Homeplug technology where Aztech is focusing and pushing this technology successfully in Europe.

Aztech Systems Ltd is a multi-national company providing OEM/ODM design and manufacturing services, contract manufacturing and retail distribution. [+]

Sinwa Secures 5-Year Supply Contract In Australia Worth A$10.2m

Sinwa Limited fully-owned Australian subsidiary Sinwa IMES Pty Limited has clinched a supply contract worth about A$10.2 million over five years.

An agreement has been signed between Sinwa IMES and ShoreCorporate Pty Ltd, a group of companies providing logistical support services (land, air and sea), remote camp management and containers to offshore clients in the Australian oil and gas sector. The agreement covers the supply of equipment and consumables to all ShoreCorporate's business units and ventures out of Darwin, Australia.

Sinwa is Asia Pacific's largest marine supply company servicing the offshore and general marine industry. [+]

Global Voice Group Announces Further Customer Wins Totalling EUR2.8 Million

Global Voice Group has released details of a sample of recent new customer contracts. The contract values of this select number of deals totalled in excess of EUR2.8 million with an average contract length of 3 years, representing significant revenue growth and contribution to Global Voice.

A long term co-location agreement with True, one of the Netherlands' largest ISPs, for the rental of approximately 700 square meters of secure datacenter space with an additional option, to extend to an adjacent datacenter suite. A contract for a private fiber network for Xentech B.V., one of the Netherlands leading system integrators, with mission-critical connectivity via a private fiber network from Global Voice. A contract delivering Tier 1 IP (Internet) connectivity for Dooyoo's consumer based portal, dependant on a highly available Internet platform, 24 x 7.

Global Voice Group owns and operates Europe's highest capacity fiber network and provides mission critical communication infrastructure and services to large corporates, carriers, and service providers. [+]

A-REIT Completes Purchase Of No. 13 International Business Park For S$20.0 Million

A-REIT has completed the purchase of the property at No. 13 International Business Park, formerly known as Plot 23 International Business Park, for S$20.0 million, funded by bank debt.

Located at No. 13 International Business Park, the property comprises a seven-storey business park building with a single-storey lab and basement car park. It has a gross floor area of 10,116 sqm, and is situated on land area of 7,277 sqm. The land is on leasehold title of 60 years which expires on 15 July 2064.

LabOne Singapore Pte Ltd will lease back the entire property for 10 years with annual stepped rental increases. In addition, AREIT will pay $4 million towards the building fitout which will be recovered from LabOne S'pore as part of the ongoing rental payments.

A-REIT is Singapore's first listed business space and industrial real estate investment trust. [+]

Asia Environment Secures First BOO Deal Worth RMB190m In Harbin, PRC

Asia Environment Holdings Ltd has secured a Build-Own-Operate Concession Agreement from the Harbin City Government for a water supply plant and a wastewater treatment facility in the Binxi Economic Development Zone, Harbin City, Heilongjiang Province, PRC.

The Harbin BOO Project has an aggregate investment value of RMB190 million and involves the construction of a water supply facility with a total capacity of 60,000 m3 per day and a wastewater treatment facility with a total capacity of 50,000 m3 per day.

Asia Environment is one of China's pioneers in the water and wastewater treatment industry with 20 years of experience. [+]

Hongguo Business Update

In recent years, Hongguo has achieved strong growth in revenues and profits, and its balance sheet has been strengthened by retained earnings. The Company believes that the Greater China markets will continue to offer strong growth prospects in the retail sector.

Hongguo plans to explore various ways to enhance its growth and shareholder value and which may involve joint ventures, alliances and acquisitions. The Company has engaged a consultant to assist in defining and implementing a strategic investment and business development program.

Hongguo is a specialised designer, manufacturer and retailer of high-quality fashion products headquartered in Nanjing, China. [+]

Ace Achieve Secures RMB75.6 Million Of New Orders Over Last 3 Months

Ace Achieve Infocom Limited has secured RMB75.6 million of new orders in the period 1st June 06 to 31st August 06. The bulk of these orders are expected to be delivered in the current financial year FY07.

While the majority of the new orders are for Ace Achieve's Business and Operations Support Solutions, there has been a growing demand for the Group's Telecom Applications Solutions which offers innovative value-added, non-voice software applications such as SMS, MMS and Background Music, to both mobile and fixed-line subscribers. As a comparison, TAS constituted 24% of the new orders versus 10% of the revenue recorded in FY06.

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

Jackspeed 1H2007 Net Profit Rises 14% To S$1.56 Million Boosted By Performance Of Its Business Segments

Net Profit for 1H2007 jumped 14% to S$1.56 million from S$1.37 million for 1H2006 on the back of a 30% increase in revenue to S$22.64 million in 1H2007 from S$17.40 million a year ago.

The Group's net profit and revenue growth were driven by increased contribution from newly-acquired subsidiary Jackson Vehicle Holdings and its leather distributor market segment which contributed S$10.19 million revenue compared to S$9.97 million a year earlier.

Net asset value per ordinary share increase 4% to 16.28 cents as of 31 August 2006 from 15.69 cents as of 28 February 2006. An interim one-tier tax exempt dividend of 0.3 cent per share is proposed.

Jackspeed Corporation Limited is a leading regional supplier of high-quality leather trim and accessories to the automotive and non-automotive markets, which includes the aviation and marine sectors. [+]

Medi-Flex Proposed Placement Of 328,305,829 New Ordinary Shares

Medi-Flex Limited has on 12 October 2006 entered into a term sheet with Top Glove Corporation Bhd, Regal Honour Investments Limited and PACAL Consulting Pte Ltd whom have agreed to subscribe for 328,305,829 new ordinary shares in the capital of the Company at the price of S$0.07 for each Placement Share

The gross proceeds from the Placement will be approximately S$23.0 million. The proceeds will be used to repay bank borrowings and working capital purposes. Upon the completion of the Placement, the Company will become a subsidiary of Top Glove.

The completion of the Placement will provide growth opportunities for both Top Glove and the Company in the manufacture of specialised gloves whereby both Top Glove and the Company are expected to benefit through the sharing of technology and expertise.

Medi-Flex is a cleanroom and medical disposable glove manufacturer. [+]

CEO's Walk The Talk

"..We are fast reaping the benefits of our fully vertically integrated offshore support services model where we can provide a wide range of support vessels deployable at different stages of an oilfield's life cycle. This strategy has enabled us to strengthen our ties with various oil majors as they look to develop new offshore fields, especially those in deep waters..."
Mr Lionel Lee
Managing Director
EZRA Holdings Limited

Highlighted Company

We are principally engaged in the manufacturing and sales of Cleanroom, Medical and Industrial disposable gloves.

Our wholly-owned subsidiary, Flexitech, is registered with the Food and Drug Administration and the Canadian General Standards Board to market our medical gloves in US and Canada respectively. Flexitech is also a member of the Malaysian Rubber Glove Manufacturing Association.

In addition, Flexitech's quality management system has been awarded the ISO 9001:2000 certification in relation to the scope of "manufacturing of natural and synthetic rubber examination, industrial, and cleanroom gloves excluding design" by the United Kingdom Accredited Services and the Anglo Japanese American Registrar.

As we grow from strength to strength, we have managed to increase our installed production capacity to more than 400 million gloves in 2004.

Historical Price Data
 Date Open High Low Close
 13 Oct 2006  0.150  0.195  0.150  0.195
 12 Oct 2006  -  -  -  -
 11 Oct 2006  -  -  -  -
 10 Oct 2006
 09 Oct 2006  0.095  0.120  0.090  0.120

Historial EPS ($) a
Rolling EPS ($) e
NAV ($) b
Historical PE
Rolling PE f
Price / NAV b
Dividend ($) d
52 Weeks High
Par Value ($)
  SGD 0.100
Dividend Yield (%) d
52 Weeks Low
Market Cap (M)
Issued & Paid-up Shares c
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 17/08/2006. 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

12 Oct 2006 Proposed Placement Of 328,305,829 New Ordinary Shares
14 Aug 2006 Half Year Financial Statement And Dividend Announcement
19 Jul 2006 Profit Guidance
19 Jul 2006 Proposed Dual Listing Of Medi-Flex Limited On AIM Market
31 May 2006 Proposed Dual Listing Of Medi-Flex Limited On The AIM Market Of The London Stock Exchange (The "Proposed Dual Listing")

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