28 May 2007      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
Digiland
424,621
CSC
341,503
BanJoo
332,731
LottVis
249,620
Biosensors
223,217
Weekly movement as at 25 May 2007
WEEK'S TOP GAINER
 Name
Price  
Chg 
OCBCCap3.93%Pref10
100.200
+1.900
OmegaNav 50
33.300
+1.600
OCBC Bk 4.5%NCPS 100
104.800
+0.600
DelongH W081008
2.890
+0.580
Transpac
4.560
+0.500
Weekly movement as at 25 May 2007

 
HEADLINES FOR THE WEEK
Amtek Engineering: Sought out by potential acquisition parties
MediaRing: Ties up to include VoIP applications on HP computers
China Lifestyle: Ties up with Cocoaland Industry Sdn Bhd to set up production facilities in the Fujian province
Singtel: Ties up with Globalstar to increase telecommunications coverage in Malaysia and across the region
Cosco: Clinches US$202m contract with Norway-based Red Flag to for a rig-building project
LMA International: Substantial stakeholder Wasatch Advisors pars stake from 7.85 percent down to 6.96 percent
CSC Holdings: Subsidiary wins Marina Bay Sands piling and diaphragm walls contract worth $240m
Khong Guan: Picks Genesis Capital as independent financial adviser
KSH Holdings: Wins 3 building projects amounting to $63.9m
Soilbuild: To auction off 2 penthouses and a sky villa at Christie's and Colliers International
Olam International: Continues A$4.75 bid offer for Queensland Cotton despite higher bid from Louis Dreyfus Commodities BV

 

Stats ChipPac: To delist from STI in light of takeover offer by Temasek Holdings
Lian Beng Construction: Wins two projects worth US$2.9m and US$6.5m in the Maldives
Hotel Properties Limited: Director Christopher Lim sells 50,000 share stakes in the company on open market
Labroy Marine: Puma Subsidiary wins US$25.6m shipbuilding project to build accommodation work barge due in 2009
Banyan Tree:  Inks non-binding MOU to purchase land to develop high-end hotels and resorts in Guilin
Biosensors: Shares closed at a high of $1.10 or a 19.6 percent jump in price attributed to being granted a US Patent for it's Biolimus A9 drug
Tiong Woon Corp: Acquires Soon Douglas (Pte) Ltd at $6.6m
Sincere Watch: Looks to increase regional clout by opening more stores in countries like Singapore, Kuala Lumpur, China, India and perhaps Australia
Straits Asia: Newly appointed CEO Ong Chui Chat to continue business focus on oil and gas exploration and production
CAAS: Unit Changi Airports International inks MOU with Vietnamese provincial officials to develop Phu Bai-Hue International Airport

 

HOT Off The Press

Communcation Design Incorporates
Subsidiary


Communication Design International Limited's subsidiary, CDI Ventures Ltd has established a company known as CDI Solutions International Pte. Ltd.

CDI Solutions was incorporated in Singapore, with an issued and paid-up capital of S$10,000. The Company is a strategic joint venture that would principally be engaged in retail roll-out for banks, projects management as well as certain aspects of interior architecture.

The Company holds 50% of the paid-up capital in CDI Solutions and the remaining 50% are held by a third party, Implementation International Ltd, incorporated in British Virgin Islands.

The Group's principal business activities are experiential branding and design, outsource marketing services in retail, event management, environmental display and interior architecture of corporate offices and visitor centres. It provides and manages end-to-end marketing communications programmes for its clients.

Soilbuild places out Vendor Shares to Institutional Investors


Soilbuild Group Holdings Ltd has placed out a total of eight million vendor shares or 4% of its ordinary issued and paid up capital to institutional investors and high net worth investors led by Schroder Investment Management Group on 16 May.

The eight million vendor shares were offered for sale by two co-founders - non-executive Chairman, Mr Fong Ying Wah @ Fong Ah Meng, who placed out two million shares and by non-executive Deputy Chairman, Mr Lee Choon Bu, who placed out six million shares.

After the placement, Mr Fong's stake is reduced to 1.60% and Mr Lee's to 6.55%. Soilbuild's other founder Managing Director Mr Lim Chap Huat remains a majority shareholder with an unchanged 58.0% stake.

Soilbuild is an innovative property developer with a development portfolio of mid to high-end residential properties and business space properties for MNCs and SMEs.

Soilbuild Holds International Auction For Three Units Of Leonie Parc View


Soilbuild Group Holdings Ltd holds an exclusive international auction for the top three luxurious units at Leonie Parc View, its flagship 44-unit freehold development in the prime Orchard shopping district.

The auction is jointly conducted by Christie's Great Estates' exclusive affiliate Ken Jacobs, and Colliers International and is by-invitation only.

Three premium units on the top floors of the statuesque 29-storey development have been set aside for this auction. The one of its kind double-storey Sky Villa is an expansive 6,975 square feet and comes with a private infinity edge lap pool. The other two penthouses are 2,906 and 3,003 square feet.

Soilbuild is an innovative property developer with a development portfolio of mid to high-end residential properties and business space properties for MNCs and SMEs.

COSCO Secures Semi-Submersible Rig Hull Building Contract


COSCO Corporation (Singapore) Ltd subsidiary COSCO Zhoushan Shipyard has signed a contract with Norwegian owner, Red Flag A.S, to build a semi-submersible rig hull, GM5000, valued at US$202 million

GM5000 is a sister rig of GM4000, a well intervention semi-submersible rig ordered by Marine Accurate Well ASA (Maracc) from Cosco Zhoushan Shipyard at the beginning of this year. Red Flag A.S decided to use the basic GM4000 design concept after a period of observation on the construction of GM4000 at Zhoushan shipyard.

The project is scheduled to commence on 30 June 2007 and is targeted to be delivered by the shipyard before the end of 2009.

The principal activities of the Company are those of investment holding. The Group owns and operates ships. Its shipping-related businesses provide supporting services to the Cosco group, such as shipping agency services, ship repairs and container depots. The Group owns and develops property and engage in general trading.

China Fishery Acquires Three Purse Seine Vessels In Peru


China Fishery Group Limited's wholly-owned subsidiary, Pesquera Isla Blanca S.A., has signed an agreement to purchase the entire issued share capital of Peruvian fishing company, Pesquera Pocoma SAC.

Through the acquisition of Pocoma the Group will gain another 3 licensed purse seine fishing vessels with combined fish hold capacity of 692 cubic metres, and the relevant permits to fish in Peruvian waters. It also brings China Fishery's Peruvian fleet to 26 purse seine fishing vessels, and total fish hold capacity to 7,363 cubic metres.

The total consideration for the Acquisition is agreed at US$10.5 million, which is to be funded by proceeds from the Group's previous issue of US$225 million in senior notes due 2013. An independent professional valuer has valued Pocoma's vessels and fishing permits at approximately US$11.2 million on an open market basis.

The Group's fishing operations are conducted all year round and coincide with the fishing seasons of various species of fish. The main catch species include:
Demersal Marine Fish - Alaskan Pollock, Halibut, Hake, Pacific Cod, Ribbon Fish, Grouper
Pelagic Marine Fish - Herring, Chilean Jack Mackerel
Cephalopods - Cuttlefish, Octopus, Squid
The Group's catches are mainly processed onboard, which involves heading, gutting, roe-collecting and grading. The fish products are then frozen, packed and delivered to customers (mainly from China, Japan, Korea and Europe) for sale.

 


UK Fund Manager Backs Anwell In Recordable Media Expansion Plans


Anwell Technologies Limited has secured a S$50 million financing facility from a UK-based fund manager to fund the expansion of its recordable media division. The facility is a convertible note - a financial instrument that gives the noteholder an option but not the obligation to convert its debt into equity.

The management plans to use the funds to ramp up production capacity over the coming 3 years to capture viable revenue from the growth of global DVDR and Blu-ray Disc market demand. The funds will also be used to develop the Group's equipment business for Blu-ray Disc format to increase its competitiveness in the next generation optical disc industry.

Under the Notes Subscription Agreement, Anwell will issue up to S$50 million in convertible notes - in 5 successive tranches - to a UK-based fund, Pacific Capital investment
Management Limited.

The Group is an integrated business solutions provider for the DVDR and CD-R replication businesses. The Group designs, manufactures and sells integrated optical disc replication systems, optical disc replication sub-systems and optical disc replication peripherals ("Manufacturing and Equipment Sales") as well as engage in the trading of optical disc replication accessories and raw materials ("Trading"). The Group also provides its customers with the necessary technical expertise, business knowledge, production systems and service support for them to succeed in the DVDR and CD-R replication businesses.

Sun Business Network To Diversify Beyond Print Media Business


Sun Business Network Ltd intends to expand its print publishing business and move into the regional multi-media space to drive growth, improve its financial performance and increase profitability.

The Group, over the last several months, has taken several initiatives to rationalize its business, including the divestment of its Greater China Assets, which had caused a serious strain on the company's financial resources in the past couple of years. It will now focus on consolidating and expanding its publishing activities in Singapore, Malaysia and China.

The Group will be expanding its print publishing activities in existing markets and exploring new opportunities in Asia. It will also diversify its revenue and earnings stream to include other media platforms such as mobile, internet and other related businesses. The Group is currently in advanced stages of negotiation for various acquisitions. Details of these acquisitions will be announced when finalised.

Sun Business Network is a leading homegrown publisher of special interest magazines with publishing activities in Singapore and Malaysia. The company has recently gone through a repositioning and aims to build itself as a leading regional media, marketing and communications company by way of mergers, acquisitions and strategic investments.

Asia Water Acquires a Wastewater
Treatment Plant in China


Asia Water Technology Ltd has successfully finalized the acquisition of the entire 100% interest in Wuhan Xincheng Wastewater Treatment Co., Ltd.

The acquisition will take place for a cash consideration of RMB 15 million funded by internal sources.

Wuhan Xincheng is located in Wuhan City, Hubei Province in the People's Republic of China and was incorporated with a paid-up capital of RMB 15 million to engage in wastewater treatment activities.

Asia Water Technology Limited is a water treatment specialist company, offering total engineering solutions for both water purification and wastewater treatments systems. Asia Water has also invested in a Build-Operate-Transfer ("BOT") project for a wastewater treatment plant. Working primarily with clients in the power generation and municipal wastewater treatment industries, we are dedicated to the protection of the environment and the conservation of China's precious water resources.

Celestial NutriFoods Expands China Product Range


Celestial NutriFoods Limited will be investing in new facilities to extend its health food and beverages product range to produce high protein nutrient beverages and high protein nutrient powders in Daqing City of Heilongjiang Province, in China. The total capital expenditure to be incurred for this expansion will be approximately RMB160 million funded, inter alia, and from time to time, by the proceeds from the convertible bonds issued in 2006.

These production and related facilities (with an annual production capacity of 15,000 tonnes and 5,000 tonnes, for High Protein Nutrient Beverages and High Protein Nutrient Powders, respectively) will be housed in buildings and structures to be erected on the existing land at its Daqing factory.

Construction works for these production facilities are scheduled to commence by the end of the second quarter of 2007 and commercial production operations are expected to commence in the second quarter of 2008.

Celestial NutriFoods is a Beijing-based manufacturer of soybean-based food products sold under the "Sun Moon Star" trademark, with production facilities in Daqing, Heilongjiang Province, the largest soybean production region in China. Its major products are distributed through around 50 appointed distributors to about 11,000 supermarkets, such as Carrefour and Wal-Mart, in around 150 cities in China.

China Printing & Dyeing Secures Initial Order To Supply Wal-Mart


China Printing & Dyeing Holding Limited has secured an initial order of weft-elastic slubby yarn worth RMB27.2 million from Nanjing Textiles Import & Export Corporation for supplying its fabrics to Wal-Mart for its approved garment factories in 1H2007.

The Company has also signed a Memorandum of Understanding (MOU) for a potential order worth at least RMB84.75 million. These orders are expected to have a positive impact on the FY2007 financials with immediate effect from 2QFY2007.

Delivery of the initial order of 1.52 million metres of weft-elastic slubby yarn will be completed by June 2007. For this initial order, China Printing & Dyeing has already received a deposit of RMB2.77 million. The potential order of 5.65 million metres of weft-elastic slubby yarn is expected to complete in 2H2007. Wal-Mart will use the weft-elastic slubby yarn for producing men and women trousers for leisure wear.

The Group is principally engaged in the provision of printing and dyeing services and the production and sales of print and dye textile products. It provides printing and dyeing services for a wide range of fabric materials including polyester fabrics, T/C (blend of polyester and cotton fabric), T/R (blend of polyester and synthetic cotton fabric), cotton fabrics, spandex fabrics, linen and nylon-cotton fabrics. In particular, its specialises in the printing and dyeing of polyester fabrics. Its also provides other value-added services such as embroidery services and fabric surface after-treatment processing, which improves the quality and appearance of the textile and impart special functionalities such as water-proof, fire-resistant and anti-bacteria properties.

CEO's Walk The Talk

"..We are seeing improving product aesthetics and more sophisticated form requirements augment the need for high-quality customised die-casting and plastic injection mould bases. At the same time, product miniaturisation, shortening product life cycles and evolving product functions will continue to play an important role in driving the need for technologically more advanced PCBs, including flexible PCBs and those with higher layer count. These trends will definitely contribute towards continually renewing the demand for our PCB punching moulds and services..."
Michael Chung Wah Sang, Chairman and CEO
Singapore Windsor Holding Limited.



Highlighted Company


With over 1,000 staff and six production facilities located in the manufacturing hubs of Shenzhen and Kunshan in the People's Republic of China, Hong Kong-based Singapore Windsor Holdings Limited serves component and Printed Circuit Board ("PCB") makers in the dynamic end-product markets of telecommunications, automobile and consumer electronics. Our unique business can be categorised into two principal segments - first, the manufacturing of high-end PCB punching moulds, as well as die-casting and plastic injection mould bases; and second, the provision of PCB electroplating, punching and raw materials trading services.






































Historical Price Data
 Date Open High Low Close
Volume  
24 May 2007 0.305 0.305 0.290 0.290
490,000
23 May 2007 0.295 0.205 0.295 0.305
1,180,000
22 May 2007 0.285 0.285 0.285 0.285
80,000
21 May 2007
0.290
0.290
0.280
0.285
150,000
18 May 2007 0.290 0.295 0.290 0.290
241,000

Fundamentals
Historial EPS ($) a
  0.04138
Rolling EPS ($) e
  -
NAV ($) b
  0.1825
Historical PE
  7.129
Rolling PE f
  -
Price / NAV b
  1.616
Dividend ($) d
  0.016680
52 Weeks High
  0.310
Par Value ($)
  n.a.
Dividend Yield (%) d
  5.654
52 Weeks Low
  0.155
Market Cap (M)
  36.108
Issued & Paid-up Units c
  122,400,000
 
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 30/05/2007. 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
22 May 2007 Establishment Of Joint Venture Company
22 May 2007 Singapore Windsor Set To Enter Special Steel Market
14 May 2007 Announcement Date Of Full Year Financial Statement 31 March 2007
27 Apr 2007 Report Of Persons Occupying Managerial Positions Who Are Related To A Director, CEO Or Substantial Shareholder
21 Apr 2006 Corporate Presentation



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