03 December 2007      
 
WEEK'S TOP VOLUME
 Name
Volume `000 
GoldenAgri
310,312
Gen Int
235,415
Centillion
174,805
UOB MBL eCW080404
147,462
HSI30000MBLeCW071228
147,067
Weekly movement as at 30 November 2007
WEEK'S TOP GAINER
 Name
Price  
Chg 
Jardine C&C
20.900
+3.000
" STI ETF 100 IOPV
35.977
+1.964
SGX
14.100
+1.800
JMH 400US$
27.800
+1.800
Lyxor China H 10US$
22.000
+1.600
Weekly movement as at 30 November 2007

 
HEADLINES FOR THE WEEK
China New Town Development: Inks agreement for an 11 square kilometre township development in Changchun, China
Hosen Group: Acquires More Winner Investment for $52.5 million
United Engineers: Tops bids for HDB Design, Build and Sell Scheme in Ang Mo Kio at $134.2 million
Keppel Land: Looks to develop 140 waterside villa homes from 9.7 hectare plot in Ho Chi Minh City
Wilmar International: Proposes raising US$500 million in proceeds via convertible bonds sale
Mermaid Maritime: Subsidiary clinches BP Indonesia contracts worth up to US$38 million for remotely operated vehicle and diving services
SIA: Inks A380 engine maintenance agreement with Rolls-Royce

 

SembCorp Marine: Subsidiary Jurong Shipyard looks to fight wind-up petition by BNP Paribas
JEP Precision Engineering: Inks agreement with Singapore Aerospace Manufacturing for the supply of engine casings worth US$40 million
Pacific Shipping Trust: Looks to buy 2 1,800 TEU container vessels at US$43 million per vessel
Temasek Holdings: Unloads China Construction Bank shares worth US$225 million in effort to rebalance investment portfolio
Penguin Boat International:  Receives second anchor handling towing and supply vessel "The Pelican Quest" through subsidiaries and clinches US$32 million worth of new shipbuilding orders
Mercator Lines: Subsidiary looks to raise $254 million in Singapore IPO
ST Aerospace: Unit wraps up inaugural Boeing Converted Freighter  job

 

CXO Interview

UCLA Professor Promotes Notion That Happier Employees Are More Productive At IPAC Event

Amidst a global economic arena where the competition for talent has intensified over the past few years, business leaders are scratching their heads over how they can retain the best and the brightest of their employees.

At ipac’s the brain trust series, guest speaker Professor Shlomo Benartzi from the University of California Los Angeles and Arun Abey, ipac Group Executive Chairman sat in at a lunchtime discussion over understanding the concept of hedonic arbitrage and how it has a direct correlation between employee satisfaction and productivity levels. In financial planning terms, ‘hedonic arbitrage’ refers to the paradox of wealth without happiness in that most individuals believe that by achieving financial freedom as a means to an end, they will automatically find happiness.

Addressing the issue of company turnover rates, Professor Benartzi touched on the idea of giving ownership and a sense of importance as a more effective ‘soft’ incentive, compared to monetary benefits, to motivate employees.

“(Employers) underestimate the importance of adding value to employees,” said Professor Benartzi. He and his colleagues helped a company to improve productivity by giving titles to its employees. The titles, which bestowed a sense of importance actually motivated employees to take pride in their work and stay on for the long haul. “(It) helped a lot with the turnover issue,” said the professor.

Both the professor and ipac Group Executive chairman Arun Abey also touched on the particularly pertinent issue of people in banking and asset management working too many hours just to earn that 5-6 figure income. It was inferred that most people would gladly trade that additional 2-3 hours at work for a smaller pay package.

Mr Abey, the co-author of ‘How Much is Enough?’ spoke on the topic of financial planning and how most people tend to make bad investment decisions due to primitive fight or flight instincts hardwired into the human brain.

The secret to effective financial planning was to ‘play it safe’ by diversifying one’s portfolio of stocks and sticking to it by maintaining a certain level of discipline even in times of crisis thus resisting the impulse to ‘follow the crowd’ in terms of market ‘buy ups’ or ‘sell downs’ said Mr Abey.


HOT Off The Press

Sinomem Acquires Remaining 30% Stake In Rosin Chemical (Wuping) Co., Ltd


Sinomem Technology Limited announced that its wholly-owned subsidiary Suntar Investment Pte Ltd has acquired the remaining 30% stake in Rosin Chemical (Wuping) Co Ltd. from Fujian Wuping Luzhou Forest Chemical Co Ltd. for a cash consideration of RMB 4.982 million.

After the acquisition, Rosin Chemical will become a wholly- owned subsidiary of Sinomem.

The Acquisition was funded through internal resources and is not expected to have any material impact on the earnings per share and Net Tangible Assets Value of the Group for the Financial Year ending 31 December 2007.

Founded in 1996 and listed on SGX-Mainboard in 2003, Sinomem Technology Limited ("Sinomem" or the "Group"), is a leading integrated membrane technology company. Its business covers entire membrane industry value chain, namely membrane material manufacturing, membrane process & engineering, and downstream nutraceuticals production and wastewater treatment that employs membrane-based separation and purification technologies. The group's headquarter is located in Singapore. Sinomem's membrane process & engineering business involves process development, engineering design, equipment fabrication, system integration, on-site installation and commissioning and aftersales technical support. These products and services are provided under the branding of Suntar. The Group focuses mainly on China market and currently is the dominant membrane separation and purification solutions supplier for China's pharmaceutical and fermentation industries. For certain products, such as those used for Vitamin C and Vitamin B12 manufacturing, Sinomem has achieved almost 100% of the market share.

AusGroup wins A$16 Million Contract For Onshore Gas Plant


AusGroup Limited (AGL or AusGroup or the Group), announced that it has won a contract worth approximately A$16 million for work on an onshore gas plant.

Under the terms of the contract, AusGroup will design, supply, fabricate and construct 4 storage tanks to be used for an unnamed major client’s onshore gas plant. The contract will commence immediately with completion expected in approximately 9 months.

The tanks will be fabricated in AusGroup’s operational headquarters at Kwinana, Perth and assembled at the nearby Australian Marine Complex (AMC) on specially designed grillage. Upon assembly, the tanks will be loaded from the AMC waterfront onto a client supplied barge and transported more than 3000kilometres to the client’s onshore gas plant site located in the Northern Territory, Australia. AusGroup will also be showcasing its logistical expertise in such projects by providing support to the construction company responsible for this project. The construction company will use a rail and winch system designed and supplied by AusGroup during the installation of the storage tanks under the supervision of AusGroup’s site management team.

AusGroup Limited is a mainboard-listed energy & resources specialist. It is primarily based in Australia, where it is a dominant player in the supply of total engineering solutions, which includes fabrication, mechanical installations and maintenance. Being involved in the building, maintaining and upgrading of infrastructure, plant and equipment used in the extraction and processing of energy & resources, AusGroup is well positioned to benefit from the increasing capital investments in these industries. Through its acquisition of Cactus Engineering, AusGroup has established a presence in Singapore, which will be used as a platform to more regional growth.

Kingsmen Secures Public Utilities Board Contract Worth S$5.5 Million


Kingsmen Creatives Ltd. (the Company) announced that its wholly-owned subsidiary, Kingsmen Exhibits Pte Ltd, has been awarded by the Public Utilities Board, a contract for the interior works to exhibition areas at Marina Barrage, Singapore (the Project).

The Project, with a contract sum of approximately S$5.5 million, is expected to be completed by June 2008.

The Project is expected to contribute positively and materially to the earnings per share or net tangible assets per share of the Company and its subsidiary companies for the next financial year ending 31 December 2008.

Established in 1976, Kingsmen has grown from a local outfit to a regional group with offices in 16 major cities across the Asia Pacific and Middle East regions through its affiliates. The Group designs and produces exhibits for events, tradeshows and even museums and visitor centres. Kingsmen is also reputed for quality interior design works, and has carved a niche in the mid to up-market retail sector. To provide value-added services to clients, the Group offers integrated marketing communications services, enabling Kingsmen to function as a one-stop-shop solutions provider.

Alantac Subsidiary JEP Precision Officially Opens Production Facilities


JEP Precision Engineering Pte Ltd, a subsidiary of Alantac Technology Ltd held an official opening ceremony for their new production facilities at Changi South on 27 November 2007.

With more than $16 million already invested in this new building and on new machinery, the Group intends to invest another $20 million over the next few years to develop the current premises into a one-stop vertically integrated manufacturing centre in Singapore.

At the official opening ceremony, JEP also officially signed a US$40 million long-term agreement with Singapore Aerospace Manufacturing (SAM) to supply engine casings up to the year 2016. The agreement was signed by Mr Joe Lau, Managign Director of JEP Precision Engineering Pte Ltd and Mr Lee Chee Weng, General Manager of SAM Singapore Operations.

Alantac Technology is a one-stop solutions provider for precision machining and contract equipment manufacturing services, specialising in consignment and full turnkey projects for customers in the semicon, HDD and telecom industries. We manufacture precision machining components and sub-assembly modules for semiconductor equipment manufacturers who then assemble them into complete machines. For our customers in the HDD industry, we undertake the machining, assembly, integration of equipments and automated assembly lines. These equipments and assembly lines are then installed and commissioned at our customers' production plants for assembly and testing of HDDs. In addition, we provide precision machining services for parts and components to companies in the telecom industry.

Rickmers Maritime Flies Singapore Flag


Rickmers Trust Management Pte. Ltd. (“RTM”), the trustee-manager of Rickmers Maritime, is pleased to announce that it yesterday successfully reflagged ITAL Festosa, one of its 3,450 TEU container vessels, to the Singapore flag. The change in maritime registration underscores Rickmers Maritime’s commitment to Singapore as its operational base and reinforces its support in Singapore’s development as a global shipping hub.

ITAL Festosa is the first of two container vessels that Rickmers Maritime intends to register with the Singapore Registry of Ships (the SRS). The second container vessel will be the new building CMA CGM Onyx, which will be registered with the SRS upon its delivery from Dalian Shipbuilding Industry Co., Ltd. The SRS is the world’s sixth largest ship registry, and is reputed to have one of the youngest and highest quality fleets globally.

ITAL Festosa was acquired and delivered to Rickmers Maritime in May 2007. The vessel was part of Rickmers Maritime’s initial fleet of 5 container vessels, which were purchased upon the completion of the Initial Public Offering of Rickmers Maritime (the IPO) in May 2007. At the time of the IPO, Rickmers Maritime had also entered into agreements to purchase four additional container vessels upon the completion of their construction, and had been granted a purchase option on one additional container vessel, which is exercisable in January 2008. Since the IPO, two of these five additional container vessels have been delivered ahead of their scheduled delivery date, contributing positively to the financial results of Rickmers Maritime.

Rickmers Maritime is a Singapore business trust formed with the objective of owning and operating container vessels under long-term, fixed rate charters to container liner shipping companies. Rickmers Maritime’s asset portfolio, owned, contracted and committed, consists of a fleet of 23 container vessels. The fleet comprises seven vessels in operation, ranging between 3,450 TEU and 5,060 TEU, and a further 15 contracted or committed vessels, ranging between 3,450 TEU and 13,100 TEU. Rickmers Maritime has also been granted a purchase option on one additional vessel, which is exercisable in January 2008. All of Rickmers Maritime’s vessels have, or will have at the time of acquisition, long-term, fixed rate time charters in place. This allows Rickmers Maritime to maintain stable operating cash flows and high utilisation rates. Managed by Rickmers Trust Management Pte. Ltd., Rickmers Maritime aims to provide its Unitholders with regular quarterly cash distributions. Rickmers Maritime also intends to grow its fleet through accretive acquisitions in order to increase distributable cash flow per Unit.

OKP Holdings Wins S$5.8 Million Deal To Resurface Roads For Formula One Racing


OKP Holdings Limited announced that it has secured a $5.8 million contract from the Land Transport Authority (LTA). The contract is titled “Road Works in City Centre Phase 2 – RD226” and includes the resurfacing works on roads around the Marina Bay district.

The resurfacing works would require the use of a new special-mix asphalt, called F1 SBS PMB, that meets the stringent requirements necessary for high-speed Formula One racing. This is the first time such a mix is being used on Singapore roads. Work on this project has commenced and is expected to be completed by end of December 2008. This is OKP’s second contract in relation to the Formula One race circuit. The first, valued at $2.8 million, was secured on 1 October 2007.

The latest contract, secured through a wholly-owned subsidiary, Or Kim Peow Contractors (Private) Ltd, involves works at the Raffles Boulevard, Raffles Avenue, St Andrews Road, Fullerton Road, Nicoll Highway, Temasek Avenue and Temasek Boulevard areas.

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 has recently taken on projects in the oil and gas sector, providing civil construction work for petrochemical plants and oil storage terminals.

KSH Holdings Secures 2 New Contracts Worth S$118 Million


KSH Holdings Limited announced that it has secured 2 new contracts from the Ho Bee Group for the construction of high-end residential developments at Sentosa Cove and Orange Grove.

This is worth a total combined value of more than $118 million, bringing the total value of the construction contracts secured by the Group since early 2007 to more than $512 million.

KSH Holdings Limited is a well established construction, property development and property management group with operations in Singapore, Malaysia and the PRC. Our Group’s principal activities are as follows:-

a.construction in Singapore and Malaysia; and
b.property development and property management in the PRC.

We act as main contractors in construction projects for private and public sector customers in Singapore and for private sector customers in Malaysia. Our construction businesses in Singapore and Malaysia are carried on by our wholly-owned subsidiary, KSHEC, and our wholly-owned Malaysian subsidiary, Techpath, respectively. Our clients typically include property developers, land owners and governmental bodies.

Our Group has two property developments in the PRC, one being Tianxing Riverfront Square in Tianjin, which was developed by our subsidiary, Tianjin Tian Xing Real Estate, and the other being Liang Jing Ming Ju in Beijing, which was developed by our associated company, Jin Hua Tong Da. Our Group also has a property management arm that manages Tianxing Riverfront Square. Our property management business in the PRC is undertaken by our subsidiary, Tianjin Tian Xing Property Management.

Boustead Incorporates A Wholly Owned Subsidiary In The Federal Territory Of Labuan, Malaysia


Boustead Singapore Limited (the Company) announced that the Company’s wholly owned subsidiary, Boustead Infrastructures Pte. Ltd. (formerly known as Salcon Thermal Technology Pte. Ltd.), has incorporated a wholly owned subsidiary in the Federal Territory of Labuan, Malaysia known as Boustead Infrastructures (Labuan) Pte Ltd (BILPL).

The principal activity of BILPL is that of building construction. Its authorised share capital is $20,000 divided into 20,000 ordinary shares of S$1 each and its issued and paid up share capital is S$1.

The incorporation of BILPL is not expected to have any material impact on the Group’s earnings per share or net tangible assets per share for the financial year ending 31 March 2008.

Established in 1828, Boustead has transformed itself from a trading entity into a progressive global Engineering Services & Geo-Spatial Technology Group, under the current management team, led by Chairman & Group CEO, Mr Wong Fong Fui.

Tiong Woon Awarded Service Contract For Shell Houdini Project


Tiong Woon Corporation Holding Ltd (the Company or TWC) is pleased to announce that its wholly owned subsidiary, Tiong Woon Enterprises Pte Ltd (TWE) has signed a service contract with FH Bertling Pte Ltd (FHB) for the Bukom Modification (BRM), Ethylene Cracking Complex (ECC) and Mono Ethylene Glycol (MEG) projects (collectively known as Shell Houdini Project).

Under this service contract, TWE will provide project cargoes trucking, heavy haulage, storage and marine transportation services to FHB, which is an appointed freight forwarding company for the Shell Houdini Project.

This contract is not expected to have any material effect on the earnings per share and net tangible assets per share of the Group's current financial year.

Tiong Woon Corporation Holding Ltd is a specialist and total integrated services provider in heavy lift, heavy haulage and marine transportation mainly serving the Oil & Gas, Petrochemical and Power industries. The Company manages turnkey projects for International Builders and Contractors from planning and design of heavy lifting and haulage requirements to the execution stage in which the heavy equipment is transported, lifted and installed at customers' facilities.

Yoma Incorporates Subsidiary In Singapore


Yoma Strategic Holdings Ltd. (the Company) wishes to announce that Myanmar V-Pile Co., Ltd., a subsidiary in which the Company has a 55% interest, has incorporated a subsidiary in Singapore (the Subsidiary) for the purpose of carrying on the business of pile foundation and other foundation related services, such as jet grouting and soil nailing, in Singapore. The details of the Subsidiary are as follows:

Name of Subsidiary : V-Pile (Singapore) Pte. Ltd.

Issued and paid up share capital : $200,000 comprising 2,000 ordinary shares

Myanmar V-Pile Co., Ltd. holds a 60% interest in V-Pile (Singapore) Pte. Ltd . The remaining 40% interest in VPile (Singapore) Pte. Ltd is held by 2 other Singapore companies, Multibase Construction Pte Ltd and Vertex Far East Pte. Ltd. Myanmar V-Pile Co., Ltd. is one of the leading pile foundation and foundation related services companies in Myanmar with more than 10 years experience in the industry. V-Pile (Singapore) Pte. Ltd. will be able to leverage on this to become one of the leading companies in the pile foundation industry in Singapore by harnessing the experience and expertise of Myanmar V-Pile Co., Ltd. Multibase Construction Pte Ltd is a company which specialises in sprayed concrete/shotcrete, controlled demolition, structural strengthening and concrete repaired works and is one of the leading company in sprayed concrete for tunneling in Singapore. Vertex Far East Pte. Ltd. is a company which specialises in civil engineering works.

Listed on the Singapore Exchange ("SGX") on 24 August 2006, Yoma Strategic Holdings Ltd. ("YSH" or "the Group") is a leading business corporation with current interests and activities in Myanmar. Registered in Singapore, YSH's principal activities involve the development of land, sale of private residential properties, construction, as well as design and project management for real estate developments in Myanmar. 

 

Sinomem Signs JV Agreement


Sinomem Technology Limited announced that the Group has entered into an agreement with Guan Nan County Government, Jiangsu Province, PRC to form a new joint venture company (JVC) with a paid up capital of RMB 100 million in which Sinomem and Guan Nan will hold 60% and 40% stakes respectively.

The principal activity of the JVC is to provide industrial wastewater treatment services to Lianyungang Chemical Industrial Park (LCIP) which has attracted investments up to RMB 7.46 billion from domestic and overseas chemical producers. Currently LCIP is the only provincial level industrial chemical park approved by the central government in the Northern Jiangsu Province.

The Group’s investment in the JVC will be funded through internal resources is not expected to have any material impact on the earnings per share and Net Tangible Assets Value of the Group for the Financial Year ending 31 December 2007.

Founded in 1996 and listed on SGX-Mainboard in 2003, Sinomem Technology Limited ("Sinomem" or the "Group"), is a leading integrated membrane technology company. Its business covers entire membrane industry value chain, namely membrane material manufacturing, membrane process & engineering, and downstream nutraceuticals production and wastewater treatment that employs membrane-based separation and purification technologies. The group's headquarter is located in Singapore. Sinomem's membrane process & engineering business involves process development, engineering design, equipment fabrication, system integration, on-site installation and commissioning and aftersales technical support. These products and services are provided under the branding of Suntar. The Group focuses mainly on China market and currently is the dominant membrane separation and purification solutions supplier for China's pharmaceutical and fermentation industries. For certain products, such as those used for Vitamin C and Vitamin B12 manufacturing, Sinomem has achieved almost 100% of the market share.

Global Voice Deploys Host l Nex For Opitz Consulting


Global Voice Group, (SGX: H23.SI), owner and operator of one of Europe’s highest capacity fiber networks and provider of mission critical communications infrastructure and services, today announced it has concluded an agreement with Opitz Consulting GmbH (Opitz). Under the terms of the agreement, Global Voice have provisioned host¦nex, a highly secure and integrated communication solution of co-location at Global Voice Group’s datacenter in Frankfurt, a range of managed services and Tier#1 global IP access for scalable, high-performance Internet access.

Opitz Consulting, one of Germany’s foremost IT Consulting Companies, required a highly robust and high performance platform over which Opitz could deliver remote administration services of the Oracle infrastructure to their customers in all vertical industry sectors. Taking these criteria into account, Global Voice deployed an integrated solution of premium co-location at their high-density datacenter facility in Frankfurt including a suite of Managed Services such as Firewalls and 24x7 monitoring from Global Voice Group’s Network Operations Center (NOC). The solution furthermore enables Opitz with carrier grade global IP access, for fastest and most reliable Internet access, optimised to support bandwidth-intensive applications and secure external data transfers with minimum hop, minimum latency and minimum packet loss.

Global Voice Group owns and operates one of Europe’s highest capacity fiber networks and provides mission critical communication infrastructure and services to large corporations, carriers, and service providers. Constructed at a cost in excess of €1.3 billion, Global Voice Group’s all-fiber optic network uniquely combines ‘longhaul’ inter-city network linking Europe’s largest economies, with high density ‘last-mile’ metropolitan fiber networks in 15 of Europe’s leading cities. Global Voice was recently awarded the prestigious title of “Best New Entrant” by leading telecommunications publication, Capacity Magazine. The award was granted to Global Voice following their acquisition of a pan-European fiber network thus extending their unique proposition of delivering private fiber networks – an offering the judges felt is of immense value to large Corporations and carriers alike. Global Voice Group, traded as euNetworks in Europe, is headquartered in Frankfurt, publicly listed on the Singapore stock exchange (SGX: H23.SI). Global Voice Group is a member of euro-one, a unique collaboration of fiber optic network providers to deliver infrastructure and next generation networking solutions connecting Eastern, Central, Western Europe and North America.

Soilbuild Inputs Additional Investment In SB (Westcove) Investment Pte. Ltd.


Soilbuild Group Holdings Ltd (the Company) wishes to announce that the Company has increased its investment in the capital of its wholly-owned subsidiary, SB (Westcove) Investment Pte. Ltd. (SB (Westcove)) from S$1 to S$1,000,000 by subscribing for an additional 999,999 shares in cash.

The increase in investment is to strengthen the capital base of SB (Westcove) and to finance its working capital requirements.

The investment in SB (Westcove) is funded through internal resources and is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company for the current financial year ending 31 December 2007.

Soilbuild is an innovative property developer with a development portfolio of mid to high-end residential properties and business space properties for Multi-national Corporations and Small and Medium Enterprises. With an established track record of more than 30 years, the Group was listed on the Singapore Exchange in January 2005 and has successfully acquired and developed a range of residential properties mainly in prime urban districts. Led by an experienced management team that has blended strong entrepreneurial spirit, professional management and technical expertise, Soilbuild has developed a unique business strategy aimed at enhancing value for its customers, business partners and shareholders. Through shortening its investment-to-sales cycle, the Group seeks to enhance its returns and to manage its risks prudently. By leveraging on its strengths in design and innovation, the Group is able to maximise yields for mid-size plots of residential properties. Since 2005, the Group has also developed a portfolio of properties customised for business use in various sectors by multinational corporations and SMEs. It has worked closely with JTC Corporation under the Developer Partnership Programme and leveraged on its expertise under JTC's "design, build and lease/sell" schemes to become a leading player in the private sector for the business space segment of the property market. The residential properties projects being developed by the Group include Leonie Parc View, The Centrio, Montebleu, Espa and One Tree Hill Residence. Completed projects include Cliften, Pinnacle 16, Mill Point and Mandale Heights. Complementing these developments are Eightrium @ Changi Business Park, Senoko Food Connection - terrace factories for the food manufacturing industry, and Pioneer Lot and Kranji Linc for light industries. Since 1998, Soilbuild has won five Enterprise 50 Awards and five SME 500/1000 Awards including the Highest Net Profit and Most Promising SME ($50m turnover) Awards for 2004/5.

Lion Asiapac Proposes Disposal Of Entire Stake In Hefei Jianghuai Automotive Co., Ltd


Lion Asiapac Limited (the Company) announced that its wholly owned subsidiary, Clarington Investment Pte. Ltd. (Clarington) has on 27 November 2007 entered into a conditional sale and purchase agreement (S&P) with Anhui Jianghuai Automobile Group Co., Ltd (the Purchaser), to sell to the Purchaser its entire 25% equity interest in Hefei Jianghuai Automotive Co., Ltd (Hefei Auto), a company incorporated in the People's Republic of China (PRC), for a total cash consideration of RMB 73,810,000 (the Disposal).

Under the S&P, the consideration payable by the Purchaser to Clarington is RMB 73.81 million (approximately S$14.4 million), based on the unaudited net asset value of Hefei Auto as at 30 June 2007 of approximately RMB 295.24 million.(exchange rate: RMB1.00 to S$0.195) The Disposal is conditional upon, inter alia, the approval of the relevant authorities in the PRC.

Hefei Auto is a Sino-foreign equity joint venture established in July 1996 and was acquired by the Group in November 2002. Located in Anhui Province of the PRC, it is principally engaged in the manufacture of automotive components such as gearboxes. Its current registered capital is US$29.99 million, of which Clarington holds 25% and Hefei Jianghuai Motors Factory (Hefei Factory) holds 75%. Hefei Factory has also at the same time entered into the S&P to transfer to the Purchaser its entire 75% equity interest in Hefei Auto. The Purchaser will hold 100% equity interest in Hefei Auto upon the completion of Disposal and the said transfer. The Disposal is in line with the Company’s plan to liquidate its investments in automotive business in the PRC. The proceeds from the Disposal would be utilised towards any new business or corporate activity.

The Company was incorporated in Singapore on 6 December 1968 as a private limited company under the name of Metal Containers (Pte) Ltd. On 18 December 1981, it turned public and changed its name to Metal Containers Ltd. In 1996, the Company was acquired by The Lion Group from Malaysia and adopted its present name. The major shareholders are currently Lion Corporation Bhd (listed on Bursa Malaysia) and Silverstone Corporation Bhd. The Group currently operates the electronics business, limestone processing business and automotive component trading business, as well as holds investments in automotive businesses in China.

OKP Awarded Contract


OKP Holdings Limited (the Company) announced that the tender for contract RD226 – Road Works in City Centre (Phase 2) (“the Contract”) by its wholly-owned subsidiary, Or Kim Peow Contractors (Pte) Ltd has been accepted by the Land Transport Authority.

The amount of the Contract is $5,786,000 and the commencement date for the Contract is 19 November 2007. The Contract is expected to be completed on 18 December 2008.

The Contract is expected to contribute positively to, but has no material impact on, the earnings per share or net tangible assets per share of the Company and its subsidiary companies for the financial years ending 31 December 2007 and 31 December 2008.

OKP Holdings Limited ("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, airport infrastructure and oil and gas related infrastructure for petrochemical plants and oil storage terminals.

Autron Partners Kuwait Finance House In RM 522.5 million (A$175.4 million) Worth Of Properties Investment


Autron Corporation Limited (Autron or the Group) announced that Simfoni Simetrik Sdn. Bhd (SSSB), the investment vehicle wholly owned by AFD Pte. Ltd. (AFD) – the Group’s wholly owned subsidiary – has entered into an agreement (the “Agreement”) with Kuwait Finance House (Kuwait) (KFH) to enter into a joint venture arrangement with KFH through an investment vehicle known as Prompt Symphony Sdn. Bhd (PSSB). Pursuant to Agreement, KFH and SSSB will enter into a subscription and shareholders’s agreements to subscribe up to 80% and 20% equity interest of PSSB respectively subject to the terms and conditions therein. PSSB will enter into 2 transactions collectively known as Project ICON at a purchase price of approximately RM 522.5 million (A$175.4 million) and option granted to acquire the car parks at cost of approximately RM 38 million (A$12.8 million) with 2 wholly owned subsidiaries of Mah Sing Berhad (Mah Sing).

Project ICON consists of two Grade A office towers – The ICON@Tun Razak with total net floor area of 263,435 square feet for purchase consideration of approximately RM 237.1 million (A$79.6 million), and The ICON@Mont Kiara, with total net floor area of 380,510 square feet for purchase consideration of approximately RM 285.4 million (A$95.8 million). Most importantly, the two properties are strategically located - The ICON@Tun Razak is located in Central Business District (CBD) location near PETRONAS Twin Towers in Kuala Lumpur City Centre (KLCC); The ICON@Mont Kiara is located at the heart of the Klang Valley. The expected completion dates for The ICON@Tun Razak and The ICON@Mont Kiara are end of year 2009 and mid of year 2011 respectively. Both The ICON, Tun Razak and The ICON, Mont Kiara will be constructed by Mah Sing, a reputable property developer listed on Main Board of Bursa Malaysia with market capitalization of exceeding RM1.1 billion.

Sihuan Acquires New Subsidiary


Sihuan Pharmaceutical Holdings Group Ltd. (the “Company”) wishes to announce that the Company has acquired a new wholly-owned subsidiary, SUN MORAL INTERNATIONAL (HK) LIMITED (the Sun Moral) in Hong Kong, The People’s Republic of China (hereinafter referred to as Acquisition) with a share capital of 1(One) share of HK$1 each on 23rd November 2007.

Sun Moral would be an investment holding company. Following the aforesaid Acquisition, the Company’s entire shareholdings in HAINAN SIHUAN PHARMACEUTICAL CO., LTD will be transferred to Sun Moral (hereinafter referred to as the Proposed Transfer). Consequent to the aforesaid Acquisition and the Proposed Transfer, the New Group Structure would be as attached.

The above Acquisition was funded by internal resources and is not expected to have any material impact on the earnings per share and net tangible assets per share of the Group for the financial year ending 31 December 2007. A leading pharmaceutical company in the field of cardiocerebral vascular drugs in the PRC, Sihuan Pharmaceutical Holdings Group Ltd focuses on the research and development (R&D), production as well as sales and marketing of cardiocerebral vascular (CV) and noncardiocerebral vascular (NCV) drugs in different forms and dosages.

Ezra's Associated Company Clinches A Deal Worth US$148 Million


Ezra Holdings Limited (Ezra) announced that the wholly-owned subsidiary of its associated company EOC Limited, Emas Offshore Construction and Production Pte Ltd (EOCP), has obtained an equal interest in a US$148 million contract for works within the Malaysia-Thailand Joint Development Area (MTJDA) with a subsidiary of a major oil and offshore services provider (Main Contractor).

This job was awarded to the Main Contractor by the Carigali-PTTEPI Operating Co. Sdn. Bhd. and is expected to involve the “Lewek Champion”, a Heavy-Lift, Accommodation, Pipe-Lay vessel and a host of support vessels belonging to the Ezra group. The above vessels will be utilised for offshore construction works including the transportation and installation of platforms, including jackets, topsides, interconnecting bridges and in-field pipelines for the JDA Block B-17 Field Development Plan Project located in the MTJDA. The MTJDA is an area of overlapping continental shelf claimed and jointly developed by both Malaysia and Thailand. It is situated in the lower part of the Gulf of Thailand.

Both EOCP and the Main Contractor are expected to work closely together as an integrated team on this venture, which is targeted to begin at the end of the third quarter of 2008. Completion of this project is expected in the third quarter of 2009.

Ezra is an integrated offshore support solutions provider for the oil and gas industry. The business was founded in 1992. Today, Ezra is listed on the Singapore Exchange Securities Trading Limited ("SESDAQ") and recently promoted to Mainboard on 8th December 2005. Its headquartered in Singapore. Its offshore support services division provides offshore support vessels for charter, as well as ship management services for its own, and for third party vessels. The Group also has a marine services division that provides marine supplies and engineering services. It has grown to be a market-driven business leader in the offshore support services and marine services industries in the Asia Pacific region.

 

 

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 Limited

 



Highlighted Company


OKP Holdings Limited ("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, airport infrastructure and oil and gas related infrastructure for petrochemical plants and oil storage terminals.

Established in 1966 by Founder and Chairman, Mr Or Kim Peow, OKP has two core business segments, Construction and Maintenance. The Group tenders for both public and private civil engineering and infrastructure construction projects. Our works involve the construction of urban and arterial roads, expressways, vehicular bridges, flyovers, airport infrastructure and oil and gas-related infrastructure for petrochemical plants and oil storage terminals as well as the maintenance of roads and road related facilities and construction-related works.

The Group has seven subsidiary companies namely Or Kim Peow Contractors (Private) Limited, Eng Lam Contractors Co (Pte) Ltd, OKP Technical Management Pte Ltd, OKP Investments (China) Pte Ltd, United Pavement Specialists Pte Ltd, OKP (Oil & Gas) Infrastructure Pte Ltd and OKP (CNMI) Corporation in Saipan, the Commonwealth of Northern Mariana Islands.

OKP's clientele includes the Civil Aviation Authority of Singapore, Commonwealth Ports Authority from the Commonwealth of Northern Mariana Islands, Land Transport Authority, the Housing Development Board, the Public Utilities Board, the Jurong Town Corporation, Rotary Engineering Limited, Foster Wheeler Asia Pacific Pte Ltd and WorleyParsons Pte Ltd, Universal Terminal (S) Pte Ltd and Far East Organisation.

OKP has been listed on the Singapore Exchange of Singapore Dealing and Automated Quotation System ("SESDAQ") since 26 July 2002.






































Historical Price Data
 Date Open High Low Close
Volume  
28 Nov 2007 0.615 0.620 .0.615 0.620
168,000
27 Nov 2007 0.620 0.620 0.610 0.610
177,000
26 Nov 2007 0.630 0.630 0.625 0.625
115,000
23 Nov 2007
0.615
0.615
0.615
0.615
115,000
22 Nov 2007 0.620 0.625 0.610 0.615
273,000

Fundamentals
Historial EPS ($) a
  0.02768
Rolling EPS ($) e
 0.05122
NAV ($) b
  0.1792
Historical PE
  22.941
Rolling PE f
  12.398
Price / NAV b
  3.544
Dividend ($) d
  0.015000
52 Weeks High
  1.050
Par Value ($)
  n.a.
Dividend Yield (%) d
 2.362
52 Weeks Low
  0.100
Market Cap (M)
  95.162
Issued & Paid-up Units c
  149,861,000
 
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 30/07/2007. 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 Nov 2007 Award Of Contract
16 Oct 2007 Additional Information In Respect Of Announcement No. 00051 Of 15 October 2007
13 Aug 2007 Resignation Of General Manager, Projects
27 Jul 2007 Half Year Financial Statement And Dividend Announcement
03 Jul 2007 Award Of Tender



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