28 April 2008      
Volume '000 
China Hongx
Weekly movement as at 14 March 2008
CMProp 100 HK$
Lyxor China H 10US$
JMH 400US$
Thai Prime200US$
Weekly movement as at 25 March 2008

CapitaLand : And Abu Dhabi-based investment agency Mubadala Development Co. ink JV worth US$500 million to develop property projects.
Pan-United Corporation : Gets $23 million project to supply ready-mixed concrete for stage one of the Downtown MRT Line.
Keppel Land : Gets option to develop $500 million residential site in Ho Chi Minh City.
Sing Holdings  : JV company to terminate acquisition of 48 strata lots and common property at 41 East Coast Avenue and 54 East Coast Terrace
SIA Engineering : Wins $90 million project for fleet management services to Australia-based Virgin Blue.
Mapletree Investment : And JTC Corp put listing plans for Reit on hold in light of poor market conditions.
Hyflux : Clinches deal to build and operate a seawater desalination plant worth $632 million.
SingXpress : Cancels acquisition plans for Singapore Service Residence Pte Ltd, SingXpress International Pte Ltd and Anglo-French Travel Pte Ltd in light of poor market conditions.


Yantai Raffles Shipyard : Launches new fixed dual beam gantry crane with a 20,000 metric tonne lifting capacity worth US$40 million.
Tiong Seng Contractors : And Kajima Overseas Asia clinches a $1.05 billion construction project for the Sentosa IR
SingTel  : To launch 5th data centre, Kim Chuan Telecommunications Centre 2 to provide managed hosting services to corporate customers in early 2010.
Dayen Environmental :  Inks MOU with Hohhot Chunhua Water for a 50 per cent stake in 5 sewage treatment plants in Inner Mongolia worth RMB 1.1 billion.
CapitaLand :  JV unit purchases 121,450 square metre site at the Trans Thana Creek industrial area in Mumbai, India worth $79 million.
Far East Organisation :  To initiate corporate rebranding exercise.
UOB Kay Hian :  Successfully bids for office site at Scotts Road/Anthony Road at $242.5 psf.
Wing Tai :  Units form JV for the acquisition of a Kuala Lumpur-based 43-storey condominium.


Derivative News


  • SingTel's diversification into various countries through acquiring stakes in telecommunication companies are coming to fruition. Earnings from its associates will be the main driver for earnings growth over the next few years. lnvestors who expect the share to appreciate may want to consider its call E7VW.


  • Sentiments on the US financial institutions are slowly turning around. Some investors believe that the worst may finally be over for the US financial industry. Singapore banks should also move in tandem with this turnaround. lnvestors who like Singapore banks may want to look at UOB call FO3W.


Investor Relations Alert

FSL Trust Acquires Two Crude Oil Tankers For US$140 Million

FSL Trust Management Pte. Ltd. (FSLTM), Trustee-Manager of First Ship Lease Trust (FSL Trust), announced that it has acquired two crude oil tankers on Friday, 18 April 2008, from privately held and Turkey-based Geden Lines (Geden) for a total consideration of US$140 million.

Geden is Turkey’s largest shipping company with a total of 77 ships trading or on order at various shipyards. Geden is part of the Turkish Cukurova conglomerate which is ultimately controlled by the prominent Karamehmet family.

The acquired vessels have been concurrently leased back to the seller for a lease term of 10 years. The lease payments are on a floating basis resetting on a quarterly basis in line with changes in the 3-month US$ Libor rate. For each vessel, the lease agreement contains a total of four purchase options for the lessee with the earliest one on the fourth anniversary of the contract.

First Ship Lease Trust (Reuters: FSLT.SI; Bloomberg: FSLT SP) is a provider of leasing services on a bareboat charter basis to the international shipping industry. It has a modern, high quality and diverse portfolio of 20 vessels consisting of four containerships, nine product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers. These vessels have an average age of approximately four years, and an average remaining lease period of approximately nine years (excluding extension periods and early buy-out options). FSL Trust is listed on the Singapore Exchange Securities Trading Limited and is managed by FSL Trust Management Pte. Ltd. (“FSLTM”), the trustee manager. FSLTM is focused on rapidly growing the vessel portfolio of FSL Trust through accretive acquisitions with long-term bareboat charters. It has an acquisition target of US$300 million for FY 2008.

Ezra Holdings Incorporates New Subsidiary Company

Ezra Holdings Limited (Ezra) announced that it has entered into an agreement (Agreement) which involves subscribing for 20,000 ordinary shares at a price of £1 per share in the share capital of Telemark Limited (Telemark).

These 20,000 shares will constitute approximately 66.66 per cent of the issued and paid-up share capital of Telemark. Under the Agreement, Sanne Trust Company Limited (Sanne) is to subscribe for 10,000 shares constituting approximately 33.33 per cent of the issued and paid-up share capital of Telemark. Pursuant to the Agreement, spanning 4 calendar years beginning from 1 January 2008 and at the end of each calendar year, Ezra will acquire 2,500 ordinary shares from Sanne at the price of no less than £250,000 and no more than £750,000, to be satisfied in the form of issued and paid-up shares in EOC Limited held by Ezra. At the end of 4 years from 1 January 2008, Telemark will become a wholly-owned subsidiary company of Ezra.

The net tangible liabilities value of the acquired entity based on the latest management accounts prior to our subscription of shares is £4 million.

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.

HLN Puts Additional Investment In Wholly-Owned Subsidiary

HLN Technologies Limited (the Company) announced that HLN Rubber Products Pte. Ltd. (HRP), a wholly owned subsidiary of the Company had increased its investment in HLN (Suzhou) Rubber Products Co., Ltd (HSR) by US$550,000 for the purpose of financing the working capital requirements in HSR.

The investment was funded by the utilization of the IPO proceeds of the Company. Following the aforesaid increase, HSR’s authorised and registered capital would be US$1,500,000/- and US$1,050,000 respectively

In the second contract, the Demineralisation Plant will produce 3,600 m3/day of highquality boiler feedwater for PowerSeraya’s 800MW Co-Generation Combined Cycle Power Plant (Co-Gen CCPP) which will be jointly constructed by Samsung Corporation and Siemens AG. Capable of producing electricity and steam simultaneously, the Co-Gen CCPP was announced in August 2007 as a key component of PowerSeraya’s strategic move to transform itself into a full-fledged integrated energy company. The De-mineralisation Plant is expected to be completed by April 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

The transaction will have no material impact on the Company’s NTA and EPS for FY2008.

HLN Technologies Limited (HLN Tech) was incorporated in Singapore on 26 February 2004 and subsequently listed on 25 November 2005. It is involved in the manufacture and sale of a wide range of customized precision metallic, elastomeric and polymeric components, which are used in a variety of industries principally in the office automation, consumer electronics and automotive industries. HLN Tech has in-house material formulation and compounding facilities where it blends the mixture of elastomers and other ingredients to make rubber compound, a raw material used in the production of its precision elastomeric and polymeric components. Apart from the manufacture and sale of customized precision metallic, elastomeric and polymeric components, HLN Tech also specializes in providing precision polymeric die-cutting services according to customers' specification and requirements. As part of its enhanced corporate vision to be a preferred Global One-Stop Solutions Provider for Integrated Mechanical Components, HLN Tech expanded into the Metallic business. The Metallic business unit has launched Metal Service Centre for the business of customized machining and slitting of metallic material.

Biosensors And Terumo Amend Terms Of License Agreement

Biosensors International Group Ltd (Biosensors, Company) announced that its subsidiary, Biosensors Europe SA (BESA), has signed a modification to the license agreement with Terumo Corporation, amending the original agreement entered into in October 2003. Under the original agreement, Terumo was granted a license to develop, manufacture, market and sell drug-eluting stent systems incorporating Biosensors’ BioMatrix® drug eluting stent technologies. Terumo’s rights to market and sell their recently approved NOBORI™1 drug-eluting stent system are exclusive in Japan and non-exclusive elsewhere, except the United States where Biosensors retains all rights. As previously disclosed, Terumo has paid Biosensors’ entities a total of US$14.0 million in milestone payments and is required to share future revenues with BESA over the term of the agreement, which is five years after initial launch of the NOBORI drug-eluting stent. Under the terms of the revised agreement, Terumo has agreed to pay BESA US$40 million in exchange for a reduction of the revenue sharing provisions applicable to sales of the NOBORI stent outside of Japan. The revised agreement also clarifies other operational and development aspects of the companies’ relationship going forward. The US$40 million payment will be paid within 30 days and those revenues will be recognized by Biosensors over the 5- year term of the agreement.

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.

Mercator Lines Acquires Second Geared Panamax Vessel Since Listing

Mercator Lines (Singapore) Limited (Mercator or the Company), a leading Indian-owned international dry bulk shipping company focused on high growth markets such as India and China, today announced that it has entered into a Memorandum of Agreement (MOA) for the purchase of a Japanese-built, 69,186 dwt geared Panamax dry bulk carrier, “YK Taurus”, from its owner, Ken Line, S.A. from the Republic of Panama at a total consideration price of approximately US$65.5 million.

This is the second vessel to be acquired by Mercator since its listing on the SGX-ST in 2007. The vessel is currently hired on a time charter-in basis by the Company and the time charter is scheduled to expire at the end of April 2008.

With this acquisition, Mercator’s number of owned dry bulk vessels increases to nine in total. Mercator’s number of geared Panamaxes will also be increased to a total of five out of its nine Panamaxes, further strengthening its position as a leading operator of the Indian-operated geared Panamax market. Post-acquisition, Mercator will operate a fleet of 11 dry bulk vessels (nine owned and two chartered in), comprising geared and gearless Panamaxes and Kamsarmaxes with an aggregate capacity of 829,057 dwt.

Mercator, which commenced operations in 2005, has established a market presence in the Indian coal transport market, specializing in the transportation of dry bulk commodities such as coal into India from Australia and Indonesia, and iron ore from India to countries such as China, Japan and South Korea. With the strong support of its ultimate parent company, Mercator Lines Limited (“MLL India”), is the second largest private sector shipping company in India (by aggregate fleet tonnage capacity), Mercator also provides its customers with complete and customized logistics solutions from the load port to the point of usage. The Group services primarily large thermal-based power plants and steel companies, and has established strong relationships with its customers, including reputable names such as Arcelor Mittal Group and Tata Power.

Swissco Sets Up A Wholly-Owned Subsidiary

Swissco International Limited (Swissco or the Company) announced that it has set up a wholly-owned subsidiary by the name of Swissco Maritime Pte. Ltd. (Swissco Maritime).

Swissco Maritime is incorporated in Singapore with an issued capital of S$50,000 represented by 50,000 ordinary shares. Its principal activity is that of ship owner and ship operator

The setting up of Swissco Maritime is not expected to have a material impact on the consolidated net tangible assets per share and consolidated earnings per share of the Swissco Group for the financial year ending 31 December 2008.

Swissco International is a Singapore-based marine service provider for the shipping and offshore Oil and Gas industries. With vessel deployment spanning from Indonesia, Malaysia, Vietnam and Thailand-even as far as East Africa, Japan and Russia-our Group is renowned for providing complete marine and shipping solutions to a wide variety of customers. Our Group owns and operates a young fleet of offshore support vessels, OPL boats, tugs and barges. Our investments also include a private waterfront facility that handles fabrication and warehousing in Singapore; a ship repair yard with a 3,000 DWT and two slipways which has the capacity to provide dry dock and afloat repairs for mid-sized support vessels.

C20 Holdings Enters JV Agreement

C20 Holdings Limited (the Company) wishes to announce that the Company has entered into a joint venture agreement (the Agreement) with Hadi H. Al Hammam and T. K. Rajgopal pursuant to which the parties have subscribed for shares in a joint venture company, Hadi International Marine Services Pte. Ltd. (the JV Co). The issued and paid-up capital of the JV Co will be S$4.00 divided into 4 ordinary shares (Shares), of which the Company will hold two Shares and Hadi and Rajgopal will hold one share each. The JV Co will accordingly be an associated company of the Company.

The board of directors of the JV Co will comprise 4 directors. The Company is entitled to appoint two directors, while Hadi and Rajgopal are entitled to appoint one director each. The JV Co will be principally engaged in the business of purchasing or otherwise acquiring offshore support vessels (OSV) for the oil and gas industries of any class and build through one or more subsidiaries for the subsequent sale, charter, lease or hire of the same to oil companies and operators from the west of Japan to the west of Africa, through the Middle East. For this purpose, the JV Co proposes to acquire a wholly-owned subsidiary company incorporated in the British Virgin Islands (the Subsidiary), which shall own the OSVs to be acquired.

As at the date of this Announcement, the Company is in an advanced stage of negotiating and finalising long-term charter commitments for the OSVs to be acquired by the Subsidiary. The funding requirements of the JV Co will be met by shareholders’ loans and/or through bank borrowings of the JV Co. The Company’s contribution in this regard will be funded internally. The investment in the JV Co is expected to have a positive impact on the earnings per share and the net tangible assets per share of the Company for the financial year ending 28 February 2009.

C2O Holdings Limited is engaged in the distribution of Printers & Imaging Products, Digital Entertainment Products, Personal Communication Products and Mobile Enhancement Products. We are an established distributor with 18 years track record. We are also engaged in providing Outsourcing Services. We are an Original Design Manufacturer (ODM) licensed by world leading brands such as Nokia and Samsung to design, manufacture and distribute mobile phone wearables. We provide logistics outsource services to the mobile phone manufacturers and telecommunications operators. Our outsource services include managing used mobile phones for the telecommunication operators and providing inventory management services to telecommunication operators. Our business operations are based in Singapore and we have representative offices in Vietnam and Philippines. We are in the process of setting up representative offices in Indonesia and Thailand.



Unifiber Wins $19.5 Million Cycle & Carriage Building Contract

United Fiber System Limited (Unifiber) is pleased to announce that Poh Lian Construction Pte Ltd (PLC), a wholly-owned subsidiary of Unifiber has been awarded a main building works contract from Cycle and Carriage Industries Pte Ltd for the construction of an additional 2nd storey to the main building, as well as the additions and alterations to the existing industrial building, involving the extension of a multi-storey carpark on Lot 3736 MK 05 at 209 Pandan Gardens (the Project).

The contract sum of the Project is S$19.5 million and the Project is scheduled to be completed within 12 months from the contract’s commencement date.

The Project is expected to contribute positively to the Group but not expected to have any material impact on the Group’s current year results. The current order book including the Project is approximately S$552 million.

The Company was incorporated in December 1995 in the Republic of Singapore as Poh Lian Holdings Pte Ltd, a private limited investment holding company working in the construction industry. In conjunction with the initial public offerings, the Company was subsequently converted into a public limited company in May 1997 and changed its name to Poh Lian Holdings Limited. The Company has been listed on the main board of the Singapore Stock Exchange since then. In April 2002, the shareholders of the Company approved a plan to venture into the forestry and pulp businesses. The restructuring exercise involved the acquisition of the entire issued and paid up share capital of Anrof Singapore Ltd group of companies with a forest concession right and extensive forest plantations in Indonesia and with a licence to build and operate a bleached hardwood kraft pulp mill in Indonesia with an annual production capacity of 600,000 tonnes of pulp. The Company name was changed to United Fiber System Limited (UFS) to reflect the new core businesses of forestry and pulp production.

SP Chemicals To Increase Investment In Subsidiary

SP Chemicals Ltd. (the Company) is pleased to announce that the Company had increased its investment in SP Taixing by USD26.16 million, by way of the capitalisation of dividends declared by SP Taixing, with effect from 18 April 2008.

This will increase the registered capital of SP Taixing from USD 97.54 million to USD123.70 million.

The transaction is not expected to have any material impact on the earnings per share or net tangible assets per share of the Company, for the current financial year.

SP Chemicals is the largest chemical raw materials and only chlor-alkali producer in China Fine Chemical Industry Taixing Park, a dedicated economic development zone designated as a fine chemicals hub in the Jiangsu province, we enjoy some valuable advantages. We are naturally chosen to be the principal supplier to existing and potential downstream producers in the industry park. Most of our PRC customers are located within a 300-km radius from our production plant – a great advantage in terms of lower transportation costs and reliable delivery. Since 2004, we have broadened our customer base to span the USA, Belgium, Japan, Korea and Taiwan. SP Chemicals counts established multinational corporations and state-owned enterprises as our customers, including Basic Chemical Solutions, L.L.C., BASF, The Dow Chemical Company, Tomen Corporation Ltd, Flexsys N.V., Akzo Nobel Chemicals MCA (Taixing) Co, Ltd (part of the Dutch Fortune 500 company Akzo Nobel N.V.), and Yantai Wanhua Polyurethanes Co., Ltd, the largest domestic MDI producer in the PRC.

CAO To Acquire 49% Stake In TSN-PEK

China Aviation Oil (Singapore) Corporation Ltd (CAO) has entered into an agreement with its parent company, China National Aviation Fuel Group Corporation (CNAF) to acquire from CNAF a 49 per cent stake in China Aviation Oil Tianjin Pipeline Transportation Centre (TSNPEK), a wholly owned subsidiary of CNAF for RMB 309.4 million (or approximately S$59.78 million). The consideration will be satisfied either by (i) cash; (ii) the issuance of approximately 37.07 million new CAO shares representing 4.88 per cent of CAO’s enlarged issued and paid-up capital; or (iii) a combination of both.

The issue price of S$1.6128 per share is derived from the average volume weighted last traded price of CAO shares on the SGX-ST over the preceding 20 market days prior to the execution of the agreement.

TSN-PEK is currently engaged in the business of providing logistics services for the jet fuel requirements of Beijing Capital International Airport (Beijing Airport) and Tianjin Binhai International Airport (Tianjin Airport). TSN-PEK possesses the longest multi-oil pipeline with the largest pipe diameter and the highest transfer volume in the PRC aviation industry (Pipeline). The Pipeline transported about 2.3 million metric tonnes of oil in 2007 and is currently operating at 71 per cent of its capacity. Headquartered in Tianjin Airport, TSN-PEK currently transports approximately 88 per cent and 41per cent of Beijing Airport and Tianjin Airport’s total jet fuel requirements respectively.

Listed on the mainboard of the Singapore Exchange Securities TradingLimited, CAO is the key supplier of imported jet fuel to the Chinese civil aviation industry. CAO also owns investments in strategic oil-related businesses, which includes Shanghai Pudong International Airport Aviation Fuel Supply Company Ltd and China Aviation Oil Xinyuan Petrochemicals Co. Ltd. Besides trading in oil-related products, CAO will also continue to seek investment opportunities in oil-related assets that are synergetic to its core businesses.

Additional S$25.0 Million Orders Secured By Subsidiaries of Darco Water Technologies Limited

Darco Water Technologies Limited (the Company or Darco or the Group) is pleased to announce that subsidiaries of the Company have recently secured 7 environmental engineering projects valued at about S$25.0 million for delivery in FY2008 (Financial Year 2008).The Company has, in January 2008, announced that the total projects orders to be delivered for FY2008 stand at S$101.00 million.

The total projects orders to be delivered for FY2008 now stand at S$126.00 million. By comparison, total group revenue for the Company is S$68.9 million and 87.6 million for financial year 2006 and 2007 respectively, representing a significant increase in potential revenue to be recognized this financial year. The major new orders valued at S$12.3 million come from the Company’s two waste water treatment projects in Taiwan, handling. Repeated orders for Phase II of Seagate Malaysia’s facilities in Johor for air management and waste water treatment system amounting to S$11.5 million have also been received. The remaining 3 relatively smaller projects totaling S$1.2 million come mainly from our Malaysian and China operations, of which one has contributed to S$0.6 million each.

In terms of industries served, except for one project which is for the municipal government in Taiwan, all other orders, making up the bulk of the orders, are from the electronic and semiconductor amounting to approximately S$19.2 million dollars.

Listed on SGX Sesdaq in July 2002, Darco is a provider of integrated engineering and knowledge-based water treatment solutions. Established in 1999 to design, fabricate, assemble, install, commission and service engineered water systems for industrial use in Singapore and Malaysia, Darco has developed systems and services based on both membrane and ion exchange technologies. Within a span of three years, Darco has formulated over 200 engineered water system solutions. The Group, which has operations in Singapore, Malaysia, the PRC, Taiwan, Philippines and Indonesia, serves companies across diverse industries – electronics, semiconductor, textile, food and beverage, printed circuit board and pharmaceuticals and municipal water and wastewater projects.

Yongnam And KTC Secure S$81.4 Million Contract For Marina Bay Sands Integrated Resort Development

Yongnam Holdings Limited (Yongnam or the Group), will form a 70%-30% joint-venture (JV) with Singapore’s KTC Civil Engineering & Construction Pte Ltd (KTC), to undertake a S$81.4 million contract for temporary decking, steel waling, strutting and excavation works at the South Podium at the Marina Bay Sands™ Integrated Resort (IR).

The South Podium at the IR, which is approximately 265 metres by 170 metres in area, includes the Convention and Meeting facilities, grand ballroom, as well as areas of retail space.

Under the terms of the contract, Yongnam will be in charge of overall site supervision and control. The Group will provide the design, supply, installation and removal of the temporary steel walling and strutting works for the deep basement excavation, as well as temporary steel decking works to facilitate the construction work at the South Podium. These works will be done in conjunction with KTC’s excavation works for the South Podium, including the excavation for pile cap construction, lean concrete and blinding works.

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 tons 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.

Strong Export Demand Spurs 33.7 Per Cent Jump In Qian Hu’s 1Q08 Net Profit to $1.3 Million

Qian Hu Corporation Limited reported that its net profit attributable to shareholders for the first quarter of FY2008 jumped 33.7 per cent to $1.3 million on sales of $23.0 million. Revenue growth was largely boosted by improvements in its sales of ornamental fish, particularly Dragon Fish, which grew by 5.9 per cent to $11.6 million, as well as the Group’s continued efforts to increase exports to more customers and countries around the world from Singapore, Malaysia and Thailand. Its Accessories business similarly grew 6.4 per cent to $8.7 million, due to higher exports as well as increased sales through an expanding distribution network through its subsidiaries in Malaysia, Thailand and China.

Revenue from its Plastics Manufacturing business, however, dipped by 5.3 per cent to 2.6 million due to lower sales of plastic products to the electronic sector in the current quarter. Notwithstanding, the Group foresees that the demand of our plastic products from the food industries and our plastic export business will gradually escalate in the coming quarters. On a geographical basis, revenue from overseas grew by 7.0 per cent through the Group’s continual effort in expanding its distribution network into untapped markets overseas, whilst revenue from Singapore registered flat growth.

In the latest first quarter results, the Group achieved gross profit margin improved from 34.0 per cent in 1Q07 to 36.6 per cent in 1Q08, whilst net profit margin grew from 5.6 per cent to 7.0 per cent. Based on the Group’s latest first quarter results, earnings per share on a fully diluted basis grew quarter-on-quarter from 0.23 Singapore cents to 0.28 cents, while net assets backing per share rose from 13.51 cents (as at 31 December 2007) to 13.85 cents (as at 31 March 2008). Moving ahead, the Directors expect that the Group’s revenue and profit will continue to increase in the current FY2008, boosted by the increase in revenue from its ornamental fish operations, improvement in its accessories export business and positive contributions from our Group’s overseas operations in Malaysia, Thailand and China.

Incorporated in 1998, Qian Hu is an integrated ornamental fish service provider – providing a spectrum of services involving distribution of well over 1000 species of ornamental fish from all around the world as well as the manufacturing and distribution of a wide range of aquarium accessories, including pet foods and medications. Qian Hu (which means “Thousand Lakes” in Chinese), has received several awards from the Securities Investors Association of Singapore since 2001 for its commitment to corporate transparency. The Company was the first small cap company to win the Best Managed Board Award at the recent Singapore Corporate Awards in February 2008.

CEO's Walk The Talk

“…We have specially selected this year's theme Fish Without Borders to emphasise the global nature of our business, particularly, our extensive distribution network, expertise in global sourcing, and strong focus on brand-building. Qian Hu's strength is in its ability to manage the entire supply chain from the sourcing of ornamental fish, to the breeding of high-margin Dragon Fish, research & development, manufacturing of accessories to complement the ornamental fish distribution business, right down to having direct access with the front-end customers. Our ornamental fish are sourced from all over the world and exported to more than 70 countries, whilst our aquarium and pet accessories are exported to more than 20 countries. Our focus will continue to leverage on our strong reputation for service reliability and quality, and build new markets. Already, we have made inroads into Indochina, such as Vietnam, the Middle East and Russia.

Kenny Yap
Executive Chairman and Managing Director
Qian Hu Corporation Limited

Singapore's Most Promising Company Profile

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.

In 1996, Qian Hu set a milestone in the industry by being the first fish farm in Singapore to be awarded the ISO 9002 certification for their quality management system.

On our second anniversary of being a public company, Qian Hu leaped to the Singapore Exchange's main board on 11 November 2002 – another significant milestone in our corporate history.

Twice winner of the Securities Investors Association (Singapore)'s Most Transparent Company Award in the SESDAQ/Small Caps Category, and recently-voted second in SESDAQ's Most Admired Company Awards, Qian Hu is becoming an even stronger player in the global ornamental fish industry as it continues to create value for its shareholders.




Historical Price Data
 Date Open High Low Close
24 Apr 2008 0.150 0.150 0.150 0.150
23 A[r 2008 0.140 0.140 0.140 0.140
22 Apr 2008 0.140 0.140 0.140 0.140
21 Apr 2008 - - - -
18 Apr 2008 0.135 0.135 0.135 0.135

Historial EPS ($) a
Rolling EPS ($) e
NAV ($) b
Historical PE
Rolling PE f
Price / NAV b
Dividend ($) d
52 Weeks High
Par Value ($)
Dividend Yield (%) d
52 Weeks Low
Market Cap (M)
Issued & Paid-up Shares c
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 22/04/2008. 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


21 Apr 2008

First Quarter Financial Statement And Dividend Announcement

05 Apr 2008

Date Of Release Of First Quarter Financial Statements Announcement

12 Mar 2008

Minutes Of Annual General Meeting

11 Mar 2009

Resolutions Passed At The Annual General Meeting

22 Feb 2008

Notice Of Annual General Meeting

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