17 March 2008      
 
WEEK'S TOP VOLUME
 Name
Volume '000 
StarCrusUS$
1,036,374
HSI24000MBLeCW080328
293,291
GoldenAgr
232,564
Li Heng
174,811
SingTel
160,517
Weekly movement as at 14 March 2008
WEEK'S TOP GAINER
 Name
Price  
Chg 
GLD 10US$
98.500
+1.700
Robinson
6.800
+0.420
DBS Bk 6% NCPS 10
110.600
+0.400
APB
13.000
+0.300
KLCI1500SGAePW080630
0.660
+0.225
Weekly movement as at 14 March 2008

 
HEADLINES FOR THE WEEK
Mandarin Oriental International : Focuses on luxury segment in light of weaker demand for 2008.
Excel Machine Tools : Picks Zurich Asia Capital Pte Ltd to help the company look for possible acquisitions for its new business model.
Asia Pacific Breweries : Starts operations in its $49 million Laos brewery.
Novo Group  : Looks to list on SGX via an RTO of NeoCorp International by end of March.
SGX : Inks deal with MSCI Barra to list contract by end of June.
Sembcorp Industries  : Inks MOU with ZonesCorp to establish JV utilities company in Abu Dhabi.

 

CWT : Starts operations in its $80 million integrated logistics hubs at Tanjong Penjuru.
Wilmar International : Sees share price boosted by positive signs of the Chinese government lifting price curbs on cooking oil.
Lian Beng Group  : Secures two construction projects valued at $90.2 million.
Dayen Environmental :  To issue convertible notes to raise up to $50 million for investment capital.
Pan Asia Water Solutions :  Clinches multiple projects worth a total of $33 million in Singapore and Vietnam.
Macquarie MEAG Prime Reit :  Refinances $220 million worth of short term loans.

 

New IPOs Of The Week

Roxy-Pacific Holdings Limited listed on the SGX mainboard in Singapore on Wednesday March 12, 2008. Roxy-Pacific Holdings Limited is a homegrown specialty property and hospitality group, principally engaged in the development and sale of residential properties.

Li Heng Chemical Fibre Technologies Limited listed on the SGX mainboard in Singapore on Wednesday March 12, 2008. Buoyed by strong profit and revenue growth since 2004, Executive Chairman Chen Jianlong feels that the company has excellent growth prospects due to its strategic location in Changle City, Fujian Province, PRC around clusters of textile and garment manufacturing industries. He also feels that the company’s R&D capabilities and low cost structure provide a competitive edge allowing the company to always stay a few steps ahead of other manufacturers.
Li Heng Chemical Fibre Technologies Limited is principally engaged in the manufacture and sale of high-end nylon yarn products in the PRC. Its two production facilities in Changle City, Fujian Province, PRC, are strategically located amongst clusters of textile and garment manufacturing industries, which are their main customers, and related supporting service industries.

Joyas Manufacturing Limited listed on the SGX mainboard in Singapore on Thursday March 13, 2008. Managing Director Dr. Peter Lau sees favorable signs in the industry such as industry consolidation, rise of consumer spending in the PRC and a growing demand from luxury brands for metal accessories hence the company’s decision to launch its IPO in Singapore. “…Our IPO is therefore intended to fund our expansion efforts in production and marketing. Ultimately, the IPO will raise our international profile and be the platform for a new era of growth.”
Joyas Manufacturing Limited, operating since 1991, was established by the Company's Managing Director, Dr. Peter Lau, whose achievements are well acknowledged in the industry. The company’s product ranges have expanded over the years to include table top clocks, calculators, photo frames, key chains, personal accessories, household gifts, wine accessories, etc., available either as individual items or as gift sets with special packaging. In research and development, the company’s design team consists of both local and overseas talents who follow closely on the heels of changes in different market trends and this translates into products with strong innovation enabling Joyas to continuously win Trademark, O.D.M. and Product Design Awards.


Derivative News

SG WARRANT IN FOCUS

  • Last week has been another turbulent week for the equity market. More negative news from the US on its economy, rising oil prices and a falling US dollar dampened sentiments further. Investors are worried

 





that the global economy may be heading for a slowdown. Some fear that write-offs from the US sub-prime loans have not abated. Singapore banks, with their healthy balance sheets, are in much better position to withstand any slowdown compared to other regional financial institutions.



 


Investor Relations Alert

Forbes China ranks CMZ amongst Best 200 Companies

CMZ Holdings Ltd. (CMZ or the Group), has been ranked by Forbes China to be amongst the “Best 200 Companies Under a Billion” in 2008.

These 200 companies highlighted are seen as the most potential small and medium companies in China.

To make it to the list, companies must be primarily based in China with high growth potential and currently have revenue under RMB 1 billion a year. The companies are then judged by sustained growth in sales and profit, and return on total and net assets from the period of FY2004-FY2006.

Listed on the SGX Mainboard on 16 July 2007, CMZ is a “China Top 10 Zipper Brand” with production facilities in Yixing City, Jiangsu Province of China. Its principal activity is in the production of mid- to high-end zippers, which are critical components of garments and bags. CMZ’s zippers are used in the production of apparel for famous brands such as Calvin Klein, DKNY, Guess, Puma, Kappa, etc. Its primary customers are major manufacturers of these apparel located within the Yangtze River Delta and Pearl River Delta region of China, who subsequently sell their finished products in China, Europe, USA, Asia and the Middle East. CMZ’s production facilities have a combined built-in area of 27,000 sq m and are capable of producing a maximum of 288 million pieces of zippers annually. Unlike many zipper manufacturers in China, CMZ produces the entire zipper product in-house.

BioMatrix® Drug-Eluting Stent Continues To Be Highlighted At SingLive 2008

Biosensors International Group Ltd, (Biosensors, the Company) announced that two patients suffering from complex heart disease were implanted with the Company’s CE-certified BioMatrix® drug-eluting stents by leading cardiologists, Prof. Eberhard Grube and Dr Kuzuaki Mitsudo, on the opening day of Singapore Live 2008 (Sing Live).

Sing Live is an international conference held from 7-9 March 2008 and attended by leading cardiologists from Asia, Europe and the United States. The annual conference is organized by the Singapore National Heart Center. Prof Eberhard Grube who is the Chief of Angiology and Cardiology of the Helios Heart Center, Siegburg, Germany implanted three BioMatrix drug-eluting stents in a 54-year old patient suffering from complex coronary disease. This procedure performed at the Singapore National Heart Center was telecast live via satellite to more than 1,000 attendees at Sing Live. In another procedure, Dr Kuzuaki Mitsudo, Chief Director of Cardiology, Kurashiki Central Hospital, Kurashiki, Japan, implanted one BioMatrix drug-eluting stents in a 50-year old patient also suffering from complex coronary disease.

The clinical trials of BioMatrix reported a 3.9 per cent restenosis (or re-narrowing of the arteries after stent implantation) and this is significantly lower than the average rate of 30 per cent experienced in patients implanted with bare-metal stent. In the clinical studies involving BioMatrix, there has also been no incidence of late-stent thrombosis (or blood-clot in the artery) compared to some occurrence of late-stent thrombosis in other first-generation drug-eluting stents.

Biosensors develops, manufactures and markets innovative medical devices used in interventional cardiology and critical care procedures. Biosensors is well-positioned to emerge as a leader in drug-eluting stents and has developed a pipeline of next-generation products that are set to gain market share from traditional therapies such as conventional drug-eluting stents, bare-metal stenting and open-heart surgery. It has three separate drug-eluting stent programs, BioMatrix®, Axxion™, and BioFreedom™, a completely polymer-free drug-eluting stent.

Epure Secures EPC Contracts Amounting To Approximately RMB257 Million

Epure International Ltd. (Epure) is pleased to announce that its subsidiary, Beijing Sound Environmental Engineering Co., Ltd (Beijing Sound) has secured EPC contracts amounting to approximately RMB257 million. These contracts are secured and are being finalised for signing.

The total industrial contracts secured amounted to approximately RMB55 million. The first contract is with Tianjin Metallurgy Co., Ltd. Beijing Sound is in charge of design and project management, as well as to supply, install, test and commission the equipment for the wastewater treatment system. Completion is expected by December 2008. Another three contracts are secured in the Tangshan area, namely with Tangshan Dafeng Coking Co., Ltd, Tangshan Desheng Chemical Co., Ltd and Tangshan Metallurgy Co., Ltd. The projects are to design, construct, procure, fabricate, install, test and commission the equipment for the entire wastewater treatment systems. Completion is expected by fourth quarter of 2008.

The total municipal contracts secured amounted to approximately RMB202 million. The first contract is with Ezhou Eqing Environmental Engineering Co., Ltd. The project is for the construction of a wastewater treatment system with a capacity to treat 120,000 tonnes of wastewater, divided into three phrases. Beijing Sound is in charge of design, construction, procurement, fabrication, installation, testing and commissioning of the equipment for the entire wastewater treatment systems. Completion is expected by fourth quarter of 2008. Another two contracts are secured in Hubei province, namely with Jingzhou Jingqing Water Co., Ltd and Danjiangkou Yiyuan Water Co., Ltd. The projects are for the construction of wastewater treatment systems with a total capacity of 90,000 tonnes of wastewater. For one of the projects, it includes the laying of a 42km-long pipe network. Beijing Sound will construct, procure, fabricate, install, test and commission the equipment for the entire wastewater treatment systems. Completion is expected by first quarter of 2009.

Epure International Ltd. is widely recognised as one of China’s leading turnkey water and wastewater treatment solutions providers. Backed by extensive R&D, technical expertise, and a proven track record of over 12 years, it has successfully completed many award-winning large-scale and complex projects in the PRC. The Group develops proprietary water and wastewater treatment technologies and customizes them into effective turnkey solutions for industrial and municipal projects. Epure has a strong marketing network in the PRC, making the Group much sought after for its strong design and engineering project management capabilities. In 2006, Epure diversified into the management of water treatment plants with a 20 per cent stake in Shanghai Chenghuan Water Operation Co. The Group also intends to venture into capital investment, having taken a 15 per cent stake in Anyang Mingbo Water Operations Co. It looks to other BOT and TOT projects for co-investment. Both investments were done through Epure’s wholly-owned Beijing Sound Environmental Engineering Co.

Chemoil Plans To Increase Terminal Capacity In Fujairah

Chemoil announced plans to further expand its GPSChemoil terminal in Fujairah with additional capacity of between 500,000 to 600,000 cubic meters (cbm) by 2010, creating the company’s largest owned storage facility after the recently launched Helios Terminal in Singapore.

Following the completion of the entire expansion program through Chemoil’s joint venture with Gulf Petroleum Supplies, the terminal’s fully aggregated capacity could reach approximately 650,000cbm. Chemoil is currently utilizing its share of the existing 49,000 cubic meters GPSChemoil terminal and leasing a further 60,000 cubic meters of capacity from Vopak whilst the phased construction of its terminal continues. It is estimated that by the end of the fourth quarter of 2008, the third phase of expansion will be completed to provide a total capacity of 94,000 cubic meters. Revised plans for the fourth phase of construction aim to further augment its original proposal by using land leased from the Port of Fujairah to extend the facility by an additional 500,000 to 600,000 cubic meters. Some of the tanks could be ready as early as mid-2009. The company is also exploring other options to further expand its local capacity beyond 2010, should market conditions demand for it.

The company will commence marine fuel deliveries in mid-March. In line with Chemoil’s strategy of controlling all key stages of the marine fuel supply chain, operations will shortly be supported by the imminent arrival of two dedicated 7000dwt barges – the George Sea and its newly-built vessel, the Lorenzo Sea. Three berths at the port of Fujairah are currently being used and the company will have access to the new berths that are currently being constructed by the Port of Fujairah. From its operations hub in Fujairah, one of the world’s top three bunkering ports with annual volumes of 12million metric tons, Chemoil is now positioned to service customers throughout the Middle East and surrounding regions whilst strengthening the company’s global reach. By complementing growing physical operations in Asia, Europe and the Americas, Chemoil’s customers will benefit from the consistency and reliability of service that they already enjoy worldwide. Furthermore, tanker operators will benefit from the strategic advantage of using the same supplier in both the Gulf of Mexico and Fujairah.

As one of the marine fuel industry’s leading physical suppliers, Chemoil delivers energy through controlling all key stages of the marine fuel supply chain, providing exceptional value to its customers and maximising profitability by converting expenses to assets - acquiring, developing and controlling physical infrastructure within the supply chain. It has integrated operations in Los Angeles, New York, Houston, Singapore, Panama, United Arab Emirates and the ARA region (Antwerp, Rotterdam and Amsterdam). Established in 1981, Chemoil continually challenges industry practices and provides leadership through its progressive and innovative approach to delivering energy. With the largest share of the marine fuels market in Los Angeles and New York, Chemoil is committed to finding innovative means to delivering energy, and has been at the forefront of supplying cleaner fuels to meet customer demands in light of changing legislation to protect the environment. Chemoil was listed on the Main Board of Singapore Exchange Securities Trading Limited (SGX-ST) on December 14, 2006 and in the same year delivered over 13 million tons of fuel.

Boustead Energy-Related Engineering Division Awarded S$24 Million In Oil & Gas Contracts

Boustead Singapore Limited (Boustead or the Company) is pleased to announce that its Energy-Related Engineering Division has secured contracts totalling S$24 million from the global oil & gas industries. More than 75 per cent of the value of these contracts is expected to be completed by the end of the next financial year ending 31 March 2009.

The latest contracts involve the design, process engineering and construction of key process equipment for large refineries located in Chile, Ireland, Malaysia and Oman.

The above contracts are not expected to have a material impact on the profitability, earnings per share and net asset value per share of the Company in the current financial year ending 31 March 2008. However, the contracts are expected to have a positive material impact on the profitability and earnings per share in the next financial year ending 31 March 2009.

Established in 1828, Boustead Singapore Limited is a progressive global Engineering Services and Geo-Spatial Technology Group listed on the Singapore Exchange. Offering an extensive range of specialised engineering services and geo-spatial solutions, we deliver professional answers customised to meet our clients’ specific requirements in a vast array of industries. Our strong suite of Engineering Services is geared to fulfill the stringent demands of specialised engineering fields in:
Energy-Related Engineering;
- Oil & Gas/Petrochemicals;
- Solid Waste Energy Recovery;
Water & Wastewater Engineering;
Real Estate Solutions;
- Industrial Real Estate Solutions; and
- New Township Development. Under our Geo-Spatial Technology arm, we provide professional services and exclusively distribute ESRI geospatial technology – the world’s leading geographic information systems and location intelligence solutions – to major markets across Australia and South East Asia. With a vast global network stretching across Asia, Australia, Europe, Africa and the Americas, Boustead is ready to serve the world. Boustead has undertaken projects in 73 countries globally.

Midas' JV Company Nanjing SR Puzhen Rail Transport And Consortium Partners Secure RMB1.56 Billion Contract

Midas Holdings Limited (Midas) announced that it has today been informed by its JV company, Nanjing SR Puzhen Rail Transport Co., Ltd (NPRT) that a contract to supply metro train cars, valued at RMB1.56 billion has been awarded by Shanghai Railway Transport Line 2 Eastern Extension Development Company Limited to NPRT and its consortium partners Shanghai ALSTOM Transport Electrical Equipment Co., Ltd. and ALSTOM Transport S.A.

Under the terms of the contract, NPRT and its consortium partners will supply 32 metro train sets (1 train set = 6 train cars), an equivalent of 192 train cars, for the Shanghai Metro Line 2 Eastern Extension Project. NPRT has an estimated 66 per cent share of this contract which is expected to be fulfilled in 2009 and 2010. As such, the contract is not expected to have a material impact on the Group’s FY2008 financials.

Midas has a 32.5 per cent equity stake in NPRT, a Sino-foreign joint venture, to engage in the development, manufacturing and sale of metro trains, bogies and their related parts.

Founded in 2000, Midas is today a leading manufacturer of aluminium alloy extrusion products and PE pipes, primarily for the transportation and infrastructure sectors in the PRC. The Group operates three business divisions; namely, Aluminium Alloy, PE Pipe and Agency and Procurement. Midas is the only PRC certified supplier to the world’s largest train manufacturers, ALSTOM SA, Siemens and Changchun Bombardier.

Global Voice Group Delivers host l nex For XS4ALL

Global Voice Group announced that it has signed an agreement with Dutch Internet Service Provider XS4ALL. Under the terms of the agreement, Global Voice will deploy host¦nex – a high availability solution comprising private co-location space at Global Voice Group’s premium datacenter facility in Amsterdam.

XS4ALL, one of the Netherlands’ leading providers of secure, high-speed internet solutions, required a reliable platform to meet the stringent demands of their customers in the private and business markets. Global Voice designed and deployed a highly secure private co-location suite at Global Voice Group’s high-power density datacenter in Amsterdam. The premium facility in Amstel Business Park has been designed to the highest standards of security, cooling and power density. XS4ALL’s private co-location area includes redundant feeds for each cabinet and meets the most rigorous requirements in terms of security and availability.

host¦nex is Global Voice Group’s high availability hosted services solution, providing enterprise, carrier and service provider clients with best in class co-location and managed services. host|nex offers a range of Storage and Business Continuity services, Hosting services, such as Remote Hands and Power, as well as variety of Security Services and Firewalls. Global Voice Group operates more than 15,000 square metres of collocation space in Europe, designed to the highest standards of security, cooling and power density to meet the demands of the most exacting requirements. The facility is purpose-built to the highest specifications and connected to Global Voice Group’ metro and long haul all-fiber network.

Global Voice Group owns and operates one of Europe’s highest capacity fiber network 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’s all-fiber optic network uniquely combines ‘long-haul’ 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 awarded the prestigious title of “Best New Entrant” by leading telecommunications publication Capacity Magazine in 2006. 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 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.

Yongnam Wins S$70 Million Structural Steel Contract In Delhi

Yongnam Holdings Limited (Yongnam or the Group), a well-established structural steel contractor and specialist engineering solutions provider, has been awarded a S$70 million sub-contract to design, supply, fabricate and erect the roof structural steelwork for the passenger terminal building and forecourt at the new Terminal 3, under the first phase of the airport expansion programme at the Delhi International Airport. This is Yongnam’s first major project win in India.

The Indian Government had announced plans to privatise seven metro airports serving both international and domestic passengers. The Delhi International Airport, also known as Indira Gandhi International Airport (Delhi Airport or IGIA), was one of four metro airports recently privatised. The management and expansion of IGIA was awarded to a consortium of four partners led by the GMR Group, one of India’s largest developers of infrastructural projects, which holds the majority share of 50.1 per cent. The main engineering procurement and construction contract was awarded to Larsen & Toubro (L&T), India’s largest engineering company. Delhi Airport is one of the largest airports in India serving over 20 million passengers per year, and will become one of the largest airports in the region by 2010, when its capacity will be increased to 35 million passengers with the completion of Terminal 3, which will cater to all international and full service domestic carriers.

Yongnam was awarded the subcontract on the basis of its track record, particularly its erection of the roof structure for the passenger terminal building at the Suvarnabhumi Airport in Bangkok, Thailand. In addition, it was also due to the confidence that GMR and L&T place on Yongnam’s ability to provide innovative solutions, quality and delivery on schedule. The new Terminal 3 is a two-tier U-shaped building that would be developed in a modular manner. It is scheduled for completion by 2010, in time for the 2010 Commonwealth Games that are to be held in Delhi. Construction will commence immediately this month and the terminal building will be completed in 18 months, by July 2009.

With over 30 years of experience in steel fabrication, Yongnam excels in adding value to steel construction. Its Singapore operations are housed at its mega-site in Tuas. Together with its production facilities in Pontian, Malaysia, the Group has a total annual production capacity of 42,000 tonnes of steel fabrication. The Group has also purchased a piece of industrial land in Nusajaya, Johor, Malaysia and is currently constructing a new fabrication factory with annual production capacity of 42,000 tonnes of steel fabrication. The factory is scheduled to commence operation by the first half of FY2008. The Group utilises the latest fabrication technologies and design innovation to offer solutions to its clients on a fast-track basis. Its modular strutting system continues to give the Group a strong competitive edge in meeting increasingly more stringent design and project requirements in infrastructure and construction projects.

 

 

KSH Holdings Secures New Contract Worth S$121 Million

KSH Holdings Limited (KSH) announced that it has secured a contract worth more than S$121 million from Seaview (Sentosa) Pte Ltd for the construction of luxury condominium housing development, Seascape at Sentosa Cove (Seascape).

Seaview (Sentosa) Pte Ltd is co-owned with equal equity interest by Ho Bee Investment Ltd and IOI Land Singapore Pte Ltd.

With this additional construction project, the existing order books of the Group’s construction business now stand at over S$614 million, and the unfulfilled contract value for all existing contracts on hand is expected to cover beyond the financial year ending March 31, 2010. We are 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:-

  1. construction in Singapore and Malaysia; and
  2. 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.

Epure Secures EPC Contracts Amounting To Approximately RMB258 Million

Epure International Ltd. (Epure) is pleased to announce that its subsidiary, Beijing Sound Environmental Engineering Co., Ltd (Beijing Sound) has secured another set of EPC contracts amounting to approximately RMB258 million. These contracts are being finalised for signing.

The total municipal contracts secured amounted to approximately RMB243 million. The first contract is with Jiayu Jiaqing Water Co., Ltd. The project is for the construction of a wastewater treatment system with a capacity to treat 80,000 tonnes of wastewater per day. Beijing Sound’s contract is to construct, fabricate, install, test and commission the equipment for the entire wastewater treatment system. Completion is expected by second quarter of 2009. The second contract is with Xianning Qingquan Water Co., Ltd. The project consists of two phases and involves the construction of a tap water supply system with a capacity to supply 200,000 tonnes of tap water a day. Beijing Sound is to design, construct, procure, fabricate, install, test and commission the equipment for the entire system with expected completion by the second quarter of 2009. The municipal contracts are entered into with Beijing Sound Environment Group Co., Ltd (BJ Sound Enviro) and are subject to the guidelines and review procedures under the general Shareholders’ Mandate for transactions with BJ Sound Enviro approved on 15 August 2007.

The total industrial contracts secured amounted to approximately RMB15 million. The first contract is with Nanjing Metallurgy Co., Ltd. Beijing Sound is in charge of the procurement and supply of the equipment and materials for the wastewater treatment system. This project is expected to be completed by May 2008. The second contract is with Huhehaote Zhongran City Gas Development Co., Ltd. The project is to design, construct, procure, fabricate, install, test and commission the equipment for the entire wastewater treatment systems. It is slated for completion by December 2008. Taking these contracts into account, the order book stands at approximately RMB693 million.

Epure International Ltd. is widely recognised as one of China’s leading turnkey water and wastewater treatment solutions providers. Backed by extensive R&D, technical expertise, and a proven track record of over 12 years, it has successfully completed many award-winning large-scale and complex projects in the PRC. The Group develops proprietary water and wastewater treatment technologies and customizes them into effective turnkey solutions for industrial and municipal projects. Epure has a strong marketing network in the PRC, making the Group much sought after for its strong design and engineering project management capabilities. In 2006, Epure diversified into the management of water treatment plants with a 20 per cent stake in Shanghai Chenghuan Water Operation Co. The Group also intends to venture into capital investment, having taken a 15 per cent stake in Anyang Mingbo Water Operations Co. It looks to other BOT and TOT projects for co-investment. Both investments were done through Epure’s wholly-owned Beijing Sound Environmental Engineering Co.

Secured Another LOI For Offshore Installation Project In Malaysia Worth US$29.0 Million

Swiber Holdings (Swiber or the Group) announced that it has secured a US$29 million Letter of Intent (LOI) from a company in Malaysia for the offshore installation and engineering of pipelines for an oil company.

As part of the LOI, Swiber will perform pipeline installation services for the offshore gas development project including mobilizing the requisite marine vessels, equipment and personnel. The project work will commence in the second quarter of 2008, with completion targeted for the third quarter of 2008.

ThisLOI, which is subject to approvals from relevant authorities, comes hot on the heels of Swiber’s recent announcement of an EPCIC (Engineering, Procurement, Construction, Installation and Commission) contract from BG Exploration and Production India Limited in Mumbai India, amounting to US$127 million. Taking this latest LOI into consideration, Swiber’s outstanding order book rockets to US$506 million.

Established in 1996, Swiber is today an integrated offshore Engineering, Procurement, Construction, Installation and Commission (EPCIC) contractor with supporting in-house offshore marine capabilities.

  • Offshore EPCIC Services: Leveraging on our strong engineering capabilities, we provide a full suite of EPCIC services which can be customized according to project requirements.
  • Offshore Marine Support Services: We charter support vessels, including logistics support, to customers both on a time charter and bareboat charter basis. As at 17 September 2006, we have a fleet of nine operating vessels, comprising five tug boats and four barges.

ASL Marine Secured Shipbuilding Contracts Worth S$126 Million

ASL Marine Holdings Ltd. (the Company or ASL Marine) announcef that the Company’s wholly-owned subsidiary, ASL Shipyard Pte Ltd has secured new shipbuilding contracts worth a total of S$126 million for the construction of three vessels:

  1. 1 unit 12860 kw Self-Propelled Cutter Suction Dredger
  2. units Emergency Response and Rescue Vessels

All three vessels are secured from existing European customers and they are expected to be completed in 2010.

Revenue from these new shipbuilding contracts will be recognised over the contract period in accordance with the Group's revenue recognition policy, which is based on the percentage of completion method.

ASL Marine is a vertically-integrated marine company principally involved in Shipbuilding, Shiprepair, Shipchartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, the Middle East and Europe. Headquartered and listed in Singapore, the Group owns and operates three shipyards in Singapore, Indonesia (Batam) and China (Guangdong), providing a comprehensive range of marine engineering services spanning myriad sectors/industries. Equipped with a fleet consisting mainly of tugs and barges, ASL Marine has also carved a niche in providing ship chartering services to the marine and offshore infrastructure sector. In May 2004, the Group successfully acquired the Tabang Coal Concession in Tabang, East Kalimantan which strategically ensures at least minimum utilisation of the Group's shipchartering fleet.

Ascendas Acquires Goodman's Stake In Ascendas-MGM Funds Management Limited And A-REIT

Ascendas Pte Ltd (Ascendas) has, through its wholly-owned subsidiary Ascendas Investment Pte Ltd (AIPL), signed a Share Purchase Agreement (Agreement) to acquire Goodman Group’s (Goodman) 40 per cent equity stake in Ascendas-MGM Funds Management Limited (Manager), the manager of Ascendas Real Estate Investment Trust (A-REIT). At the same time, another Ascendas wholly-owned subsidiary, Ascendas Land (Singapore) Pte Ltd (ALPL), has agreed to acquire Goodman’s 6.28 per cent direct stake in A-REIT for a consideration of approximately S$158.16 million.

Upon completion of AIPL’s acquisition of Goodman’s 40 per cent stake in the Manager, Ascendas- MGM Funds Management Limited will become a wholly-owned subsidiary of Ascendas and be renamed Ascendas Funds Management (S) Limited. Upon completion of ALPL’s acquisition of Goodman’s direct stake in A-REIT, Ascendas will have a total deemed interest in A-REIT of approximately 26.77 per cent. The completion of the above-mentioned acquisitions is expected to take place within 10 business days from the signing of the Agreement.

Since its listing in November 2002 with a portfolio of eight properties worth S$545 million, AREIT has grown into one of Singapore’s largest business space trusts with 80 properties and total assets worth over S$3.4 billion as at the end of December 2007. A-REIT currently owns a diversified portfolio of properties such as business and science parks, occupied by more than 750 local and international tenants. Ascendas’ five-year partnership with Goodman in the Manager has contributed to building strong in-house real estate fund management capabilities and produced a strong track record in real estate fund management for the Manager. Meanwhile, Ascendas has established a regional presence with overseas real estate funds in key markets such as India, China, Korea and South East Asia. This transaction presents an opportunity for Ascendas to make the Manager a wholly-owned subsidiary of the Ascendas Group and thereby to fully extend the Ascendas Group’s capabilities to benefit A-REIT.

A-REIT is the first business space and industrial real estate investment trust (REIT) listed on the SGX-ST. It has a diversified portfolio of 80 properties in Singapore, comprising suburban office space (including Business and Science Parks), high specifications industrial mixed use properties, Flatted Factories, Light Industrial properties, Logistics and Distributions centres as well as warehouse retail facilities, with total assets worth over S$3.4 billion. These properties house a tenant base of over 750 international and local companies from a range of industries and activities, including research and development, life sciences, information technology, engineering and light manufacturing. Major tenants include SingTel, C&P Logistics, Siemens, TT International, Honeywell, Zuellig Pharma, LFD (Singapore), OSIM International, Venture Corporation, Federal Express, Freight Links Express, Johnson & Johnson, RSH, Infineon Technologies, Procter & Gamble, Hyflux and Hewlett-Packard. A-REIT is listed in several indices. These include the Morgan Stanley Capital International, Inc (MSCI) Index, the European Public Real Estate Association/National Association of Real Estate Investment Trusts (EPRA/NAREIT) Global Real Estate Index and Global Property Research (GPR) Asia 250 and FTSE ST Mid Cap Index.

Meghmani Ropes in IFC As Strategic Investor In Its Proposed Environmental-Friendly Caustic Chlorine Project In India

Meghmani Finechem Limited (MFL), a subsidiary of SGX Main Board-listed Meghmani Organics Limited (Meghmani or Company) has roped in IFC, a member of the World Bank Group, as a strategic investor for its chlor-alkali plant, which will employ environmental-friendly and energy efficient membrane cell technology. The Company announced today that IFC will invest INR461 million, and provide a long term loan of up to INR800 million to MFL, to undertake the project. In addition to the equity investment and loan, IFC will also have the right to subscribe to warrants of up to INR50 million.

First announced in October last year, the project involves the development of a Caustic Chlorine Complex (CCP) in Dahej in Gujarat at an estimated cost of INR554 million (equivalent to S$1203.85 million). This large-scale, company will produce caustic soda lye/flakes, chlorine gas and hydrogen gas in the first phase. Subsequent phases will involve downstream/derivative projects based on caustic/chlorine. The complex is to utilize 4th generation Membrane Cell Technology from Asahi Kasei Chemicals Corporation of Japan, one of the most established technology providers for the manufacture of chlor-alkali chemicals in the world. Meghmani sees the investment in this project as an opportunity for the Group to achieve inorganic growth in a diversified yet chemistry-related business with positive growth potential.

With its established track record in R&D capabilities gleaned from its years in the Pigments and Agrochemical industries, the Group is able to leverage on its excellent infrastructure for MFL such as its integrated manufacturing facilities, R&D laboratories and skilled work force. The caustic-chlorine chemicals are used in a multitude of industries including pigments, pesticides, production of metals and resource materials, pulp and paper, petroleum and natural gas extraction; manufacture of organic chemicals, plastics, industrial solvents, water treatment chemicals and pharmaceuticals. For Meghmani, MFL’s plant when ready will provide it with a ready and captive source of some of the basic chemicals as the Group consumes significant quantities of caustic soda, chlorine gas and derivatives of chlorine gas for its pigments and agrochemicals operations.

Established in Gujarat (India) in 1986, Meghmani is a manufacturer of Pigments and Agrochemicals. The Company specializes in the manufacture of green and blue pigment products that span multiple applications such as printing inks, plastics, paints, textiles, leather and rubber. Its pigment customers comprise mainly MNCs who are leading players in their respective industries. Meghmani also produces a broad spectrum of commonly used pesticides for crop and non-crop applications such as public health, insect control in wood preservation and food grain storage. The Company counts amongst its customers leading pesticide manufacturers from North America, Europe, Latin America and Asia.

DMX Wins Contract For First Provincial Implementation Of Interactive TV Services In China

DMX Technologies Group Limited (DMX or the Group), a leading information technology enabler and digital media provider announced that it has been awarded an initial contract to implement the first provincial scale interactive digital TV platform for cable TV operator, Neimeng Broadcast TV information Network Co. Ltd (Neimeng) of Inner Mongolia, China. Neimeng, the only cable TV operator in the province of Inner Mongolia, serves a total of about 1.4 million cable subscribers. Of these, about 1.2 million are digital subscribers. Aiming to become a world class operator, Neimeng seeks to offer enhance interactive TV services to its subscribers. Under this initial contract, DMX shall supply its multi-media software platforms and implement the roll out of interactive TV services such as Video on Demand (VOD) and Time Shifting TV (TSTV) in multiple cities across Inner Mongolia, in time for Beijing Olympics in August 08.

Interactive TV service is a new value-added service adopted by advanced cable operators. With interactive TV services, cable operators have a wider spectrum to increase and expand their revenue stream. To provide such services, operators typically have to make additional investment of between US$150 to US$180 per user on hardware and software platforms. A recent Deutsche Bank report stated that most TV subscribers in China want digital programmes and interactive services, with 67 per cent wanting VOD services and 49 per cent willing to pay for such services.

DMX Technologies is a leading information technology enabler and provider of a wide range of digital media software and solutions. The Group specialises in providing integrated IT solutions to enable telecom operators, cable TV operators, mobile operators, media corporations and enterprises to deliver enhanced services to their end-users. It’s solutions range from providing service operators and enterprises with network security, network management and optimisation, to providing systems that enable digital media services. The Group owns a suite of proprietary multimedia software, which provides a platform for the delivery of enhanced TV and interactive value-added services over broadband, cable, mobile or other network media. Established in 1999 and listed on the Singapore Stock Exchange, DMX has built an extensive regional network of offices in Asia, including Greater China, Indonesia, Korea, Malaysia and Singapore.

Epure Establishes Of A Wholly-Owned Subsidiary In British Virgin Islands

Epure International Ltd. (the Company) wishes to announce the incorporation of a wholly-owned subsidiary (the Subsidiary) in British Virgin Islands.

Incoporated on 22 February 2008, the name of the subsidiary is Sound International Investment Holdings Limited.

The principal activity of the subsidiary is that of investment holdings and it has a registered capital of US$1.00

Epure International Ltd. is widely recognised as one of China’s leading turnkey water and wastewater treatment solutions providers. Backed by extensive R&D, technical expertise, and a proven track record of over 12 years, it has successfully completed many award-winning large-scale and complex projects in the PRC. The Group develops proprietary water and wastewater treatment technologies and customizes them into effective turnkey solutions for industrial and municipal projects. Epure has a strong marketing network in the PRC, making the Group much sought after for its strong design and engineering project management capabilities. In 2006, Epure diversified into the management of water treatment plants with a 20 per cent stake in Shanghai Chenghuan Water Operation Co. The Group also intends to venture into capital investment, having taken a 15 per cent stake in Anyang Mingbo Water Operations Co. It looks to other BOT and TOT projects for co-investment. Both investments were done through Epure’s wholly-owned Beijing Sound Environmental Engineering Co.

 

CEO's Walk The Talk

“…In developed countries, potato starch is widely used in industrial applications, whereby 80% of which is used in pharmaceutical, textile, paper and oil and mining industries. In the PRC, potato starch is mainly used in the food processing and catering industry and only about 10% is used for industrial applications. With the development of the economy, we believe that the potential demand for potato starch in other industries is high”

Zhao Libin
Executive Chairman and CEO
China Essence Group Ltd



Singapore's Most Promising Company Profile

Based in Yixing City, Jiangsu Province of the PRC, we are engaged in the production and sales of metal, resin and nylon zippers, targeted at the mid to high end market of the garment industry, which pays a premium for quality zippers. Our zippers are widely being sewed as critical parts in garments and bags, which are made by major manufacturers and distributors, located in the Yangtze River Delta and Pearl River Delta regions for subsequent sales in the PRC and other countries in Europe, U.S.A, Asia and the Middle East.

Through years of continuous research and development (R&D) and marketing, we have created a brand name - Chima - in the mid to high end garment market.

Currently, our products are supplied directly to manufacturers for domestic brandnames such as Bosideng, Yalu, Tanboer, Rouse and Peacebird, and international brandnames, such as Kappa, Puma, Target, Gallery, Wal-Mart of US, G-Star of Germany, Lotto of Italy, Andre and Redcats of France, Marks & Spencer of the UK and Bestseller of Denmark. We have also grown and expanded over the years. Currently, our production facilities occupy a total land area of approximately 18,972 sq m and built-in area of approximately 27,000 square metres and we employ more than 1,000 employees. As at 16 May 2007, we have an annual production capacity of approximately 221 million zippers.


 

 































 

Historical Price Data
 Date Open High Low Close
Volume  
13 Mar 2008 0.185 0.200 0.185 0.200
15,000
12 Mar 2008 0.205 0.205 0.205 0.205
45,000
11 Mar 2008 0.200 0.200 0.200 0.200
45,000
10 Mar 2008 0.185 0.185 0.185 0.185
6,000
7 Mar 2008 0.200 0.200 0.200 0.200
150,000


Fundamentals
Historial EPS ($) a
  0.02690
Rolling EPS ($) e
  0.02690
NAV ($) b
  0.1256
Historical PE
  7.435
Rolling PE f
 7.435
Price / NAV b
 1.592
Dividend ($) d
 -
52 Weeks High
 0.425
Par Value ($)
  n.a.
Dividend Yield (%) d
-
52 Weeks Low
 0.160
Market Cap (M)
  60.930
Issued & Paid-up Shares c
  304,652,000
 
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 05/02/2008. 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

07 Mar 2008

Forbes China Ranks CMZ Amongst Best 200 Companies

04 Mar 2008

Unaudited Financial Statement For The 12 Months Ended 31 December 2007

27 Dec 2008

Clarification To SGX Query

19 Dec 2007

CMZ Successfully Develops Luxury-end Zippers For Commercial Production

15 Nov 2007

Change Of Financial Year




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