09 July 2007      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
Digiland
626,643
Equation
537,808
PSC Corp
516,407
FHTK
466,088
THBEV
373,490
Weekly movement as at 06 July 2007
WEEK'S TOP GAINER
 Name
Price  
Chg 
Shang Asia 2kHK$
20.700
+1.900
OmegaNav 50
33.400
+1.000
BukitSem
13.00
+0.900
Lyxor China H 10US$
16.300
+0.900
BukitSem W071113
8.950
+0.800
Weekly movement as at 06 July 2007

 
HEADLINES FOR THE WEEK
Creative Technology: Announces it will absorb the 2 percent GST increase
Armstrong Industrial Corp: Links up with Innovalues to spearhead worldwide business expansion efforts
Financial One: Becomes first Taiwan-based financial company to IPO on Singapore exchange
Breadtalk: Subsidiary Topwin Investment takes 1 million share stakes in Out Of The Box Pte Ltd for $1.2m
STX Pan Ocean: Purchases 4 ships for below $30m apiece
Super Coffeemix: Sees major shareholder Oei Hong Leong sell his 13.17 percent stake in the company for a possible gain of $41m
Olam: Consolidates hold on Queensland Cotton with 59 percent stake in the company
Arcapita Bank: From Bahrain proposes listing of UK- based utility trust on Singapore Exchange
Sinwa Limited: Enters oil and gas vessel JV with Nordic International's sole shareholder
Lian Beng Group: Acquires 8 freehold semi-detached properties along Mountbatten Road for $42m

 

Ascendas: Lodges preliminary prospectus with SGX for listing of Indian real estate trust
China Angel Food: Looks to take $25.7m in Singapore IPO
Keppel Seghers: Clinches project to design, build and operate an Algerian wastewater treatment plant
Technics Oil and Gas: Inks leasing supply, operation and maintenance of three units of gas compressor equipment deal with Vico Indonesia worth $4m for 2 years
Ezra: Proposes chartering 2 multi-purpose self-propelled jack-up rigs from Nylect Technology for 3 years
Tuas Power: Gets 60 percent stake in Beng Kuang Marine JV for $10m to expand into waste management business
OKP Holdings: Clinches a JTC civil engineering project at Tuas View for $4.9m
Island Power: Re-starts long- delayed power station project on Jurong Island valued at $1b
Oculus: Shifts into energy business with planned purchase of China power plant
Qian Hu: Acquires 20 percent stake in UK aquarium lamp manufacturer for 264,000 English Pounds
Parkway Life Reit: Gets green light to list and trade on Singapore Exchange

 

HOT Off The Press

Breadtalk Unit Acquires One Third Stake In Out Of The Box


BreadTalk Group Limitet’s wholly-owned subsidiary, Topwin Investment Holding Pte Ltd has subscribed for and been allotted 1,000,000 new ordinary shares representing one third of the enlarged issued and paid-up share capital of Out Of The Box Pte Ltd pursuant to an agreement entered into on 15 June 2007 between Founder Tan Muey Hwa, Topwin and Out Of The Box.

The total consideration for the Investment Shares is S$1,200,000.

Out Of The Box was incorporated on 10 April 2004 and is engaged in the business of marketing and wholesale distribution of carbonated and non-carbonated canned drinks under the “Anything” and “Whatever” trademarks, any related businesses incidental thereto, and any other business currently carried on by Out Of The Box, shall, upon completion of the said subscription, become an associated company of Breadtalk.

Founded in 2000, BreadTalk has become a distinctive Singapore brand that has gained international appeal. Renowned for the way it has revolutionised the culture of bread consumption with its visually appealing, aromatic and unique-tasting products, the Group owns and operates more than 20 bakery outlets in Singapore, as well as several outlets in various countries regionally, including Shanghai and Beijing. In 2003, the Group diversified into the restaurant business by opening the world-renowned Din Tai Fung brand of restaurants, known for its xiao long bao meat dumplings, in Singapore. In 2005, BreadTalk penentrates further into the China market by acquiring Topwin Investment Holding Pte Ltd, which owns and operates 13 food courts under the award-winning brand-name "Megabite" in the PRC.

Venture And Hypercomm Enter Manufacturing Agreement


Venture Corporation Limited has entered into a manufacturing services arrangement with Hypercom Manufacturing Resources, Inc to jointly manufacture secure electronic payment transaction products, leveraging Hypercom’s high security transaction technology and Venture’s technology and capabilities in total value chain management in the electronics sector.

The heightened requirements of financial organisations and merchants for reliability, flexibility and security augurs well for secure transaction solution providers and Venture is keenly focused on driving greater confidence in the applications of such software, products and solutions with its new partner, Hypercom.

The Venture-Hypercom business alliance anticipates, over time, coverage of the entire value chain – from production and testing to order fulfilment, enabling productive and efficient end-to-end management of the value chain, commencing with Hypercom’s manufacturing operations in Shenzhen, China. As manufacturer and supplier to Hypercom for certain products under the Arrangement, Venture will, at the onset, also provide value chain management services to Hypercom.

Venture Corporation Limited, a leading global electronics services provider, offers an excellent combination of outstanding management, world-class technical capabilities, innovative manufacturing technology, reliable testing capabilities and state-of-the-art facilities. Founded in 1984, the Venture group comprises about 30 companies with global clusters of excellence in South-East Asia, North-East Asia, the Americas and Europe, and employs more than 13,000 people worldwide.

Chemoil Establishes New Subsidiaries


Chemoil Energy Limited (the Company or CEL) wishes to announce that the Company has established two subsidiaries, Chemoil Storage Limited and Chemoil Navigation Limited in Marshall Islands on 4 June 2007. CEL’s wholly owned subsidiary, Chemoil Logistics Inc, owns 100% of the issued shares of each of Chemoil Storage and Chemoil Navigation.

The main activity of Chemoil Storage will be that of an Investment Holding Company. Chemoil Storage was incorporated with an issued capital of 50,000 shares, which was fully subscribed by Chemoil Logistics for a consideration of US$50,000.00. The investment in Chemoil Storage was funded through internal resources.

The main activity of Chemoil Navigation will be that of owning special purpose companies who will in turn own and operate ships. Chemoil Navigation was incorporated with an issued capital of 50,000 shares, which was fully subscribed by Chemoil Logistics for a consideration of US$50,000.00. The investment in Chemoil Navigation was funded through internal resources.

We are one of the largest and leading integrated physical suppliers of marine fuel products globally. We have physical operations in many ports around the world, including Los Angeles, New York, Houston, Singapore, Panama and the Amsterdam-Rotterdam-Antwerp (ARA) region.

Technics Secures S$4 Million Equipment Leasing Contract


Technics Oil & Gas Limited today announced that its Joint Operation in Indonesia, PT. Promatcon Tepatguna J.O., has secured a leasing contract from Vico Indonesia for the supply, operation and maintenance of 3 units of gas compressor equipment.

Vico Indonesia is a joint venture company between BP and Eni - a Milan and NYSE listed Italian oil major - which has operations in over 70 countries and staff strength of more than 70,000 employees.

The contract is valued at more than S$4 million, based on the agreed tenure of two years. It will be worth an additional S$1.8 million, if the option of extending the tenure by another year is exercised. The contract is expected to commence upon the delivery and start-up of the gas compressor equipment at the jobsites by November 2007.

Technics is a leading specialist engineering service provider, servicing the robust Oil & Gas industry. It designs and develops process modules and equipment that are integrated to form the operating systems and storage facilities for oil and gas exploration and production.

Natural Cool Increases Investment In Subsidiary


Natural Cool Holdings Limited refers to the Company’s announcement of 6 March 2007 regarding an increase in its investment in NC (Shanghai) M&E Co., Ltd., (Natural Cool Shanghai) via its wholly owned subsidiary, Natural Cool Airconditioning & Engineering Pte Ltd (NCAE). The Board wishes to announce that the Company has through NCAE, further increased the paid up share capital of Natural Cool Shanghai by US$208,000. Natural Cool Shanghai’s paid up share capital will therefore increase from US$192,000 to US$400,000.

As disclosed in the Company’s Prospectus dated 27 April 2006, approximately S$1,000,000 of the total net IPO proceeds would be used for the regional expansion of the business of Natural Cool Shanghai and its working capital.

To date, US$260,000 has been utilised towards the increase in share capital of Natural Cool Shanghai for purpose of expansion of Natural Cool Shanghai’s business in the PRC and its working capital. The Company will from time to time provide updates on the utilisation of the aforesaid IPO proceeds in this respect.

Natural Cool Holdings is Singapore’s leading air-conditioning and switchgear specialist, and the only company with this combined expertise listed on the Singapore Exchange. Our Group is the first to integrate both the switchgear and air-conditioning business segments in the power management and temperature-control of both commercial and residential properties. The synergy from these integrated operations allows us to provide a comprehensive product range and integrated solutions for our customers.

Swiber Completes New Shares Placement


Further to the announcements made on 26 June 2007 and 5 July 2007 in relation to the Placement, the Board of Directors of Swiber Holdings Limited is pleased to announce that the placement agent, CIMB-GK Securities Pte. Ltd. and the sub-placement agent, Westcomb Securities Pte Ltd, have successfully placed out all the 55,350,000 Placement Shares mainly to institutional investors.

The Placement Shares were allotted and issued at a price of S$2.1748 per Placement Share. Upon the completion of the Placement, the issued share capital of the Company increased from US$31,634,000 comprising 369,000,000 ordinary shares to US$110,979,580 1 comprising 424,350,000 ordinary shares.

The listing and quotation of the Placement Shares is expected to take place from 9.00 a.m. on 9 July 2007. The SGX-ST’s approval in-principle is not to be taken as an indication of the merits of the Company, its subsidiaries, the Placement or the Placement Shares.

 


Venture Acquires Remaining Stake In VS Electronics


Venture Corporation Limited has acquired the remaining 1,000,000 ordinary shares in VS Electronics Pte Ltd (VSE) from Sumitomo Electronics Industries, Ltd, for a total consideration of S$187,521.00. The consideration is arrived at on a willing buyer-willing seller basis taking into account VSE’s net book value per share of S$0.1875 as at 31 May 2007.

The consideration will be satisfied wholly in cash. This acquisition is funded through internal resources and is not expected to have any material impact on the net tangible assets per share and earnings per share of the Company for the financial year ending 31 December 2007.

With the acquisition, Venture’s interest in VSE will be increased from 50% to 100% making VSE a wholly-owned subsidiary of the Company.

Venture Corporation Limited, a leading global electronics services provider, offers an excellent combination of outstanding management, world-class technical capabilities, innovative manufacturing technology, reliable testing capabilities and state-of-the-art facilities. Founded in 1984, the Venture group comprises about 30 companies with global clusters of excellence in South-East Asia, North-East Asia, the Americas and Europe, and employs more than 13,000 people worldwide.

Cambridge Industrial Trust Acquires 1 Joo Koon Crescent And 23 Woodlands Terrace For S$29.208 Million


Cambridge Industrial Trust Management Limited the Manager of Cambridge Industrial Trust (CIT), has identified 1 Joo Koon Crescent and 23 Woodlands Terrace to be acquired by CIT at a purchase price of S$13,800,000 and S$15,408,000 respectively.

In connection with the Acquisitions, RBC Dexia Trust Services Singapore Limited, as trustee of CIT, has entered into separate conditional put and call option agreements with Yeow Heng Industries Pte Ltd, and Metform Industries Pte Ltd respectively, to acquire the two Properties.

The Acquisitions are expected to be financed by debt or alternative funding sources in line with the Manager’s capital management strategy in optimizing the funding of the Trust.

The above Properties will be accretive to CIT’s distributable income.

Cambridge Industrial Trust ("CIT"), listed on the Singapore Exchange on 25th July 2006, is Singapore's first independent industrial real estate investment trust (REIT), and a conduit for investors to Singapore's high growth industrial sector. The Trust invests in income-producing industrial properties and has an existing portfolio of 32 properties valued at $662 million. They range from logistics and warehousing properties to light industrial properties, all located across Singapore’s key industrial zones. This provides a secure and stable yield to Unitholders. 

Armstrong Joins Innovalues In Global Business Expansion


Armstrong Industrial Corporation Limited, a precision foam and rubber components manufacturer for the automotive industry and Innovalues Limited, a leading manufacturer of precision machined metal components for the automotive industry have joined forces through a Memorandum of Understanding to collaborate and jointly tap on each other’s expertise and network to cater to the booming global automotive industry. Both companies target to have combined automotive revenue of $160 million by 2009. This target translates to a CAGR of 44.3% from a combined base of $53.2 million in 2006. Under the MOU, both automotive specialists will bring forth their respective experience and expertise in the field to propel the alliance to greater heights. Armstrong will contribute with its forte in comfort and convenience features while Innovalues will share its expertise in the safety, performance, environmental and energy-saving aspects.

Besides sharing the respective expertise and leveraging on each other’s strengths, there are also opportunities for cross referral of customers and joint marketing efforts for future projects. Armstrong has a strong clientele base in Japan and Europe while Innovalues has an established pool of customers in Europe and US. Through the cross referral of services, both companies will be able to broaden their customer base and extend their geographical reach to new markets. On top of that, both companies can also look forward to complementing each other in terms of products and services. For example, Innovalues is able to provide rubber compounding services to Armstrong while Armstrong is able to make use of the compounded rubber to supply precision rubber components to Innovalues through its rubber moulding capabilities.

This collaboration will enable both parties to offer a more comprehensive range of products and services to their customers. Both parties will be looking into potential joint ventures in various markets. This can come in the form of M&A activities, joint marketing offices and even collaborative R&D efforts to develop new innovations for the automotive industry.

Established in 1974, Armstrong Industrial Corporation first started out as a contract supplier of rubber foam parts for the marine industrial sectors. Since then, the company has grown to become a leading precision engineering specialist in various industries and regions. 

OKP Holdings Secures S$4.9m JTC Contract


OKP Holdings Limited, through its wholly-owned subsidiary Eng Lam Contractors Co Pte Ltd, has netted a S$4.9 million contract from the Jurong Town Corporation (JTC) for civil engineering works at Tuas View.

The scope of work covered under the Contract includes the final premix surfacing works, works relating to road curbs and road pavements, the de-silting of existing drains, reinstatement works, landscaping works and other ancillary works.

The works are expected to start on 15 July 2007 and to be completed in a year.

OKP is a leading home-grown infrastructure and civil engineering company in the region, specialising in the construction of airport runways and taxiways, expressways, flyovers, vehicular bridges, urban and arterial roads. The Company is also specialised in providing civil engineering work for petrochemical plants and oil storage terminals in the oil and gas sector.

Qian Hu acquires 20% Stake In Arcadia Products PLC


Qian Hu Corporation Limited today announced that it has signed a definitive agreement today to acquire a 20% stake in Arcadia Products PLC, a manufacturer of aquarium lamps based in the United Kingdom, for an initial consideration of £264,000.

With a history that dates back to 1964, Arcadia has achieved a sterling reputation for its high-quality aquarium lighting products which are sold in a total of 90 specialist and general pet wholesales in the United Kingdom, and distributed to 55 countries worldwide.

Under the terms of the Agreement, Qian Hu has agreed to pay a further consideration to Arcadia for the Acquisition amounting to 20% of 6 times the amount of net profit after tax (PAT) less the amount of initial consideration already paid by Qian Hu in the event Arcadia achieves a PAT of not less than £400,000 (required PAT) in its financial year ending 30 June 2008. In the event that Arcadia is unable to achieve the required PAT in FY 2008, Qian Hu will pay the Further Consideration to Arcadia calculated on the same formula for financial year ending 30 June 2009 (FY 2009), upon Arcadia achieving the required PAT of in FY 2009.

Incorporated in 1998, Qian Hu provides a spectrum of one-stop services including the distribution of over 500 species of ornamental fish from all around the world as well as the manufacture and distribution of a wide range of aquarium accessories, including pet foods and medications. The Group, which has subsidiaries in Malaysia, Thailand and the PRC, also includes the manufacture and distribution of plastic bags into its vertically-integrated business model.

CEO's Walk The Talk

“..In effort to diversify our revenue streams and broaden our clientele base, we will also be actively tendering and securing more oil and gas infrastructure construction projects to grow our niche in the booming oil and gas sector over the next five years. We have set up a new team, oil and gas/petrochemical, in addition to our airport infrastructure and road construction and road maintenance teams. These three teams have been structured according to their specialist capabilities and knowledge. We believe that this gives us an extra edge over our peers, as the specialised industry knowledge of each team would enable us to handle projects more efficiently.”

Or Kim Peow, Group Chairman
OKP Holdings



Highlighted Company


Oculus Limited is focused on the innovation, manufacturing and marketing of colour lenses. Its colour lenses are principally marketed under the FreshKon® and Unicon™ brand names globally.

Aside from colour lenses, Oculus Limited also offers disposable daily clear lenses, disposable bi-weekly and monthly clear lenses under FreshKon® brand, and gas permeable lenses and solution under the Boston® brand to its broad customer base.

With direct presence in Singapore, China, Taiwan, Hong Kong and Malaysia, its products are sold in over 45 countries globally.






































Historical Price Data
 Date Open High Low Close
Volume  
05 July 2007 0.390 0.400 0.360 0.365
43,248,000
04 July 2007 0.350 0.385 0.350 0.375
24,037,000
03 July 2007 0.370 0.370 0.350 0.350
7,074,000
02 July 2007
0.375
0.385
0.345
0.360
21,963,000
29 June 2007 0.400 0.415 0.365 0.365
25,144,000

Fundamentals
Historial EPS ($) a
  0.00007
Rolling EPS ($) e
  0.00007
NAV ($) b
  0.0254
Historical PE
  5142.857
Rolling PE f
  5142.857
Price / NAV b
  14.173
Dividend ($) d
  -
52 Weeks High
  0.455
Par Value ($)
 n.a.
Dividend Yield (%) d
  -
52 Weeks Low
  0.035
Market Cap (M)
  72.699
Issued & Paid-up Units c
  201,942,000
 
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 29/06/2007. 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
05 Jul 2007 Response To SGX Queries Of 5 July 2007
03 Jul 2007 Change Of Share Registrar And Warrant Agent
02 Jul 2007 Proposed Acquisition Of Hunan Zhangjiajie Chalinhe Electric Power Co., Ltd
27 Jun 2007 Announcement Of Appointment Of Independent Director
26 Jun 2007 Resignation Of Directors



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