2 April 2007      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
 BanJoo
341,038
 BBR
209,049
 BakerTech
200,279
 Yongnam
184,250
 THBEV
182,585
Weekly movement as at 30 March 2007
WEEK'S TOP GAINER
 Name
Price  
Chg 
 OUE
15.000
+0.900
 DBS Bk 6% NCPS 10
110.000
+0.800
 BukitSem
10.800
+0.500
 BukitSem W071113
6.650
+0.500
 Epure
2.140
+0.420
Weekly movement as at 30 March 2007

 
HEADLINES FOR THE WEEK
Yuanbang Property Holdings Limited: Lodges preliminary
prospectus with SGX
BreadTalk Group: Proposes 34m share placement to raise
$11.79m worth of proceeds
Rickmers: Proposes sponsor of a third maritime trust which
will raise US$258m in IPO proceeds
ST Engineering: Clinches 3 contracts through subsidiary units
at a total value of $400m
Macarthurcook Reit: Expects to raise $321.5m in
Singapore IPO proceeds
GuocoLand: Proposes acquisition of a 26,000 square metre
site in Tianjin, China for US$52.5m
City Development Limited: Takes up 3 additional residential
sites in the Balestier Road area
SembMarine: Unloads its 55% stake in Jurong Clavon Pte
Ltd for $2.9m
Sun New Media: Unloads its 150m shares of Sun Business
Network to strategic investors
Metal Component Engineering: Finally moves out of the red
posting H2 FY06 profits of $1.2m

 

Hong Leong Group: Acquires One Balmoral for $125m
Genting International: Proposes acquisition of Star Cruises' stake in
Singapore casino JV for $255m
ECS Holdings: Proposes increase of expansion efforts in Vietnam and
India
Tat Hong Holdings: To make acquisition bid for remainder of Kian Ho
shares
ASL Marine:  Wins projects for 7 offshore and marine vessels as well
as port terminal operations valued at a total of $164m
Ariane Corp: Plans 20m share offer to pay off $10.9m debt to HK
Fibrecom
Auston International: Receives whitewash waiver from SIC in relation
to acquisition of M2B World Asia Pacific
Travelite Holdings Ltd: Proposes listing of 20m shares on Sesdaq
Labroy Marine: Secures two more heavy-lift jack up
construction projects valued at a total of 283.6m euros to bring order
book up to $2.2b
Hyflux: Signs agreements for 4 water-treatment projects worth
RMB253m
Allgreen Properties: Currently outbids competitors for 99-year
leasehold site with $72.3m offer

 

HOT Off The Press

Enviro-Hub Get Go Ahead To Start Plant Production


Enviro-Hub Holdings Ltd's subsidiary received the necessary approvals to commence production and sale of copper cathodes at its Singapore copper plant.

The plant has an approximate processing and production capacity of 10,000 metric tonnes of copper cathodes a year that also comply with the London Metal Exchange specifications.

Food Empire Launches Proprietary Chocolate Brand Website


Food Empire Holdings announces the launch of its MacChocolate brand of beverage products' website.

The new site will introduce news releases of chocolate beverage products under MacChocolate.

These include first hand news of all marketing and branding activities on our proprietary range of chocolate beverage products and all events and promotions on the chocolate beverage from various markets.

Since the early 90's, the Group has been a food and beverage company that manufactures and markets instant beverage products, frozen convenience food and confectionery. It also has a wholesale business that trades in frozen seafood. Its principal activity is that of manufacture instant beverages and food products, such as frozen convenience food and snacks under its proprietary brands MacCoffee, Klassno, FesAroma, OrienBites, MacCandy and Kracks.

ASL Marine Snags 7 Shipbuilding Contracts


ASL Marine Holdings Ltd's subsidiary wins 7 shipbuilding projects worth a total of S$164 million.

The projects will include the construction of six Rotary Tug units and one Heavy Life cum Pipelay Vessel unit.

The projects are expected to be completed in 2009.

ASL Marine is principally engaged in shipbuilding, ship repair, ship chartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, the Middle East and Europe. The Group started operations as a trader of scrapped steel material in 1974, and subsequently rode on the 1980s construction sector boom by undertaking building construction works. Guided by its vision to be a leading player in the marine sector, the Group undertook ship-breaking activities in 1986 before venturing into shipbuilding and ship repair - where it constructed its first barge and tugboat in 1988 and 1990, respectively. In 1989, the Group extended its vertically integrated capabilities by providing charter of tugboats and barges and other marine logistics services.

LottVision Ups Stake in PAL


LottVision Limited plans to issue S$20.0 million worth of new shares to raise its equity stake in PAL Development Limited.

The issue of 175,795,912 new LottVision shares will bring its stake in PAL up to 70 percent.

The proposed transaction is a move to accelerate the company's entry into Asia's lottery market.

Lottvision is a technology-based company principally engaged in the design, development and distribution of digital video surveillance products and solutions. The Company's products are adapted for use in a diverse range of industries including banking, residential, commercial, retail, building management, healthcare, utilities and transportation.

TeleChoice Subsidiary Links Up With Nokia To Provide SIC Service


Nexwave Telecoms Pte Ltd cooperates with Nokia Pte Ltd to provide the SunPage Internet Call service for the Nokia Nseries and Eseries products.

The SIC service is pre-activated for all existing SunPage post-paid subscribers. New users need to sign-up with SunPage before the service can be activated. There are no registration and subscription fees.

For pre-paid SunPage customers, their existing SunPage International Calling Cards are automatically enabled for the SIC service. New pre-paid users can also purchase the SunPage International Calling Cards at SunPage retail outlet and at authorised dealers such as 7-Eleven, Cheers and Singapore Post.

TeleChoice International ("TeleChoice") is a leading regional provider of mobile telecommunications equipment and solutions with operations in Singapore, Indonesia, Australia and Malaysia. TeleChoice is also established a presence in Thailand and the Philippines. The Group provides a broad and diverse range of equipment and solutions to different segments of the telecommunications industry namely, mobile network equipment providers, mobile network operators, enterprises and retail customers requiring mobile handsets and accessories as well as value-added telecommunication services such as international long-distance call services. Its also provide mobile network and engineering services and solutions.

 


Pacific Andes To Raise Stake In Subsidiary


Pacific Andes Holdings proposes increasing its shareholdings in subsidiary China Fishery Group Limited.

Acquisition of the additional China Fishery shares will increase its stake from 28.8 percent to 63.8 percent.

The cost of the acquisition is US$356 million and will be financed through a combination of a rights issue, a convertible bond issue, internal resources and external financing.

Pacific Andes is primarily involved in global sourcing, the transportation and supply of frozen seafood products to the international market, as well as the provision of the shipping and agency services to suppliers' fishing fleets.

Tat Hong Acquires Kian Ho Shares


Tat Hong Holdings Ltd has acquired 21,000,000 ordinary shares of Kian Ho Bearings Ltd.

The shares were bought at a price of US$0.26 per share and represent approximately 9.0 percent of Kian Ho's issued and paid up share capital.

With this acquisition, Tat Hong now owns 70,581,000 ordinary shares comprising a 30.2 percent stake in Kian Ho.

The group is principally involved in the rental and sale of cranes and the sale of spare parts for cranes. Apart from cranes, the group is also involved in the rental and sale of other ancillary heavy equipment such as excavators, bulldozers, earth-moving equipment, foundation equipment, piling rigs and generators.

Boustead Wins Contract To Build Biomass System


Boustead Singapore Limited subsidiary signs an agreement with PT Rajawali to construct and design an advanced sugar bagasse biomass system in East Java, Indonesia for S$6 million.

The System will be the first sugar bagasse biomass system in Indonesia to operate at pressure levels of 50 bar and super-heated temperatures of 450°C, and will have a steam turbine capacity of 5MW.

The advanced specifications of the System will allow Rajawali I to increase the efficiency of steam rate generation utilising sugar bagasse from its current 70% to above 85%. Its expected completion date is in May 2008.

Boustead is a progressive global Engineering Services & Geo-Spatial Technology Group offering an extensive range of specialized engineering services and geo-spatial solutions.

Its suite of engineering services is geared to fulfill the demands of specialized engineering fields such as energy-related engineering (for oil & gas / petrochemicals and solid waste energy recovery), water & wastewater engineering and industrial real estate solutions.

Under its geo-spatial technology arm, the Group provides consulting services and distribute ESRI geo-spatial technology - the world's leading geographic information systems and geo-spatial solutions - to major markets across Australia, South East Asia and South Asia.

China Hongxing Secures Major Sponsorship Contracts


China Hongxing Sports Limited wins three major sponsorship agreements with key players in the PRC's sporting industry.

China Hongxing has been appointed the official sponsor of the PRC's women's 48kg weightlifting team participating in the upcoming 2008 Beijing Olympic Games. China Hongxing has also signed a contract with the Chinese Tennis Association to appoint eight-time WTA Tour doubles champions, Zheng Jie and Yan Zi as Erke's brand spokespersons.

The Group also arranged a tie-up with popular search engine, Yahoo! China to sponsor the sports pages on its web site www.yahoo.com.cn.

The Group is principally engaged in the design, manufacture and sale of sports shoes and the sale of sports apparel and sports accessories in China. It principally targets the youth market and the mid-range market segment of the sporting goods industry in China.

Its products are sold and marketed under Erke brand, through its 20 distributors who either operate or appoint approved specialty stores operators to operate 2,020 Erke specialty stores in China and 2 distributors who purchase Erke products for export to Southeast Asia and the Middle East.

SMT Incorporates Two Wholly-Owned Subsidiary


Surface Mount Technology (Holdings) Limited has incorporated a wholly owned subsidiary known as Surface Mount Technology (Changchun) Co., Ltd. through another subsidiary Prompt Reaction Inc. The company has also incorporated another wholly owned subsidiary, Surface Mount Technology
(Macao Commercial Offshore) Limited through its other subsidiary, Macau Logistics Limited.

SMTech Changchun has a registered capital of US$5,000,000 which will be funded from internally generated resources over a period of 3 years while SMTech Macao has a registered capital of MOP$100,000 which will be also funded the same way.

SMTech Changchun will provide Electronics
Manufacturing Services to the electronics industry, in particular, automotive sectors in north eastern China. SMTech Macao will focus on overseas selling of our electronics manufacturing services and provide respective logistics support.

Surface Mount Technology provides electronics manufacturing services (EMS) to OEMs of computer peripherals, consumer and industrial products, telecommunications and others. The Company also offers comprehensive solutions to customers in printed circuit board assembly (PCBA) and complete product assembly services.

 

CEO's Walk The Talk

"..From time to time, we see trucks alongside our roads and expressways, with men hoisted high, sawing away seemingly healthy branches and tree trunks. They are doing the essential tasks of 'tree pruning', so that the trees and shrubs all over our Garden City continues to grow luxuriantly. We look at this seemingly 'cruel' act and wonder why these lovely trees have to be subject to such treatment. I say it is essential because it helps to enhance the aesthetics of a tree or shrub.

Pruning involves the removal of non-essential parts of the plant that may hinder the desired growth path of the plant, and enables the plant to channel all of its energy for its general wellbeing and fruitfulness. Some of us may have seen this process being carried out, but not many are willing to carry out this painful process.

Since 2004, Qian Hu has gone through this process of pruning as we embraced a new retail chain store strategy and moved away from the old business model that is reliant on wholesale distribution. We felt that it was absolutely essential to integrate forward so that we could gain direct access to our front-end customers instead of relying on the traditional distribution channels. We want to run a business that will last far beyond our generation, which makes the pruning exercise that we had gone through the past two and half years even more crucial for long-term sustainability...."
Kenny Yap, Executive Chairman and Managing Director
Qian Hu Corporation



Highlighted Company


The Company was incorporated under the name of ASL Marine Holdings Pte Ltd. On 29 January 2003, it changed its name to ASL Marine Holdings Ltd.

ASL Marine is principally engaged in shipbuilding, ship repair, ship chartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, the Middle East and Europe.

The Group started operations as a trader of scrapped steel material in 1974, and subsequently rode on the 1980s construction sector boom by undertaking building construction works. Guided by its vision to be a leading player in the marine sector, the Group undertook ship-breaking activities in 1986 before venturing into shipbuilding and ship repair - where it constructed its first barge and tugboat in 1988 and 1990, respectively. In 1989, the Group extended its vertically integrated capabilities by providing charter of tugboats and barges and other marine logistics
services.

Headquartered in Singapore, the Group owns and operates two shipyards in Singapore and Batam, providing a comprehensive range of marine engineering services including the building and repair of increasingly larger and more sophisticated vessels.

Equipped with a young fleet of more than 100 vessels consisting mainly of tugboats and barges, ASL Marine has also carved a niche in providing ship chartering services to various industries, including offshore oil and gas, marine infrastructure, dredging and construction, coal, building materials and general cargo.

In May 2004, the Group acquired the Tabang Coal Concession in Tabang, East Kalimantan which enables the Group to establish itself in the coal supply and transportation industry in Indonesia.






































Historical Price Data
 Date Open High Low Close
Volume  
29 Mar 2007 0.970 1.020 0.970 1.010
4,202,000
28 Mar 2007 0.975 0.980 0.965 0.970
713,000
27 Mar 2007 0.970 0.980 0.970 0.975
1,924,000
26 Mar 2007
0.935
0.955
0.930
0.950
390,000
23 Mar 2007 0.925 0.935 0.925 0.930
68,000

Fundamentals
Historial EPS ($) a
  0.09191
Rolling EPS ($) e
  0.10958
NAV ($) b
  0.5171
Historical PE
  10.989
Rolling PE f
  9.217
Price / NAV b
  1.953
Dividend ($) d
  0.018000
52 Weeks High
  1.050
Par Value ($)
  n.a.
Dividend Yield (%) d
  1.782
52 Weeks Low
  0.510
Market Cap (M)
  253.478
Issued & Paid-up Units c
  250,968,000
 
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 08/02/2007. 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
27 Mar 2007 ASL Marine Secures Major Shipbuilding Contracts Worth S$164 Million
27 Mar 2007 ASL Marine Secures Shipbuilding Contracts Worth S$164 Million
28 Feb 2007 ASL Marine's Management Replies To Online Management Q&A
07 Feb 2007 Half Year Financial Statement And Dividend Announcement
07 Feb 2007 Online Management Q&A With Investors



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