8 Sep 2008      
 
WEEK'S TOP VOLUME
 Name
Volume '000 
Digiland
277,916
SingTel
178,227
Noble Grp
120,831
HSI21600MBLePW080929
120,044
GoldenAgr
112,949
Weekly movement as at 5 Sep 2008
WEEK'S TOP GAINER
 Name
Price  
Chg 
DIAMONDS 10US$
116.700
+114.700
HSI22400SGAePW080929
0.980
+0.380
HSI21600MBLePW080929
0.735
+0.345
HSI22200MBLePW081030
1.060
+0.340
Nikkei225DBePW80915A
0.570
+0.295
Weekly movement as at 5 Sep 2008

 
HEADLINES FOR THE WEEK
DBS Bank : Inks deal with China Unionpay to issue their credit and debit cards in markets where DBS has a presence.
Keppel Land : Subsidiary Alpha Investment Partners new Asia Macro Trends fund to invest US$1.2 billion in Asian retail, residential and hospitality property.
Wilmar  International Limited : Enters US$36 million deal for a 15 per cent stake in Fortune Gas Investments Holdings.
Pan Asian Water Solutions  : Clinches $12 million worth of projects in Singapore, Hong Kong and Ireland.
Singtel : Offers new US TV shows on mioTV for low price.
Jade Technologies : Picks Chong Kwang Shih as new CFO.

 

Chip Eng Seng : Clinches Punggol West HDB design and build project valued at $156 million.
CapitaLand : Sells Beijing-based Hua Lei Holdingsand marks $163 million in profit.
Singapore Press Holdings : Along with SGX and the FTSE Group to reveal results of ST Index Series review on Thursday, September 11, 2008.
Hartawan Holdings : Subsidiary to sell shophouse unit at Jurong East to Bon Investment Pte Ltd at $4.8 million.
FJ Benjamin :Sees Peter Lim raise stake from 14.12 per cent to 16.58 per cent for $3.9 million.
Showy International Limited : To enter Chongqing property developing business via RTO of Fortune Court Holdings Limited.
 

Investor Relations Alert

Dissolution Of Subsidiaries By Cosco (Singapore) Pte Ltd

COSCO Corporation (Singapore) Limited (the Company) refers to the announcement released on 7 November 2007 in relation to the incorporation of Cos Lucky Shipping Maritime Inc. and Cos Knight Shipping Maritime Inc. by Cosco (Singapore) Pte Ltd, a wholly-owned subsidiary of the Company.

Subsequent to the completion of the acquisition of the two vessels by Cos Lucky Shipping Maritime Inc. and Cos Knight Shipping Maritime Inc., Cosco (Singapore) Pte Ltd, has on 26 August 2008 voluntarily dissolved two of its subsidiaries incorporated in Panama, Cos Lucky Shipping Inc. and Cos Knight Shipping Inc.

The abovementioned dissolutions are not expected to have any material impact on the Company's net tangible assets and earnings per share for the financial year ending 31 December 2008.

COSCO Corporation (Singapore) Limited ("COSCO" or the Company) has the largest Ship Repair, Ship Building & Marine Engineering operation in China. A diversified group with activities also in the Dry Bulk Shipping, Shipping Agency and other sectors, it is the SGX Mainboard-listed subsidiary of China Ocean Shipping (Group) Company ("COSCO Group"), China’s largest shipping group and one of the top shipping conglomerates in the world. COSCO has achieved significant progress in growing its Ship Repair, Ship Building & Marine Engineering capacities and capabilities. The completion of its acquisition of a 51% stake in the largest shipyard in China, COSCO Shipyard Group ("COSCO Shipyard"), on 1 January 2005 had propelled COSCO into the premier league in the ship repair industry. COSCO is poised to continue in its dynamic growth momentum for further breakthrough in its core businesses and global coverage. The Company is a component stock of the Straits Times Index (since 1 March 2004), constituent of the London benchmark FTSE All-World Asia Pacific (Ex-Japan) Index (since 19 March 2004) and MSCI Singapore (since 1 June 2005). In October 2006, the Company has been included as a component stock of Prime Partners China Index - the first index that tracks the performance of China enterprises listed on the Singapore Stock Exchange.

Biosensors DES Demonstrates Equivalent Safety And Efficacy To Industry Leading DES In First 'Real World, All Comers' Clinical Study

Biosensors International Group, Ltd (Biosensors, the Company) announced that a next-generation drug-eluting stent, developed by Biosensors, has demonstrated equal safety and efficacy as compared to Johnson & Johnson’s industry leading drug-eluting stent, CYPHER SELECT™ (Cypher), based upon nine-month clinical and angiographic follow-up data. The results of the landmark study were presented today at the 2008 European Society of Cardiology Congress and published concurrently on-line by the prestigious UK medical journal The Lancet. LEADERS (Limus Eluted from A Durable versus Erodable Stent coating) is the first head-to-head randomized study between the two drug-eluting stent systems (DES) in a ‘real world, all comers’ population using clinical results as its primary endpoint. This multi-centre European study randomized 1,707 patients eligible for percutaneous coronary intervention (PCI) for symptomatic coronary disease to receive either a Biosensors Biolimus-eluting DES with an abluminal biodegradable polymer coating, or a Cypher Sirolimus-eluting DES with a durable polymer. In total, 2,472 coronary lesions were treated.

Inclusion criteria were broad, reflecting routine clinical practice, without limitations regarding type of coronary vessel, lesion length or number of treated lesions. Patient conditions known as “off-label indications”, including acute coronary syndromes, saphenous vein grafts and previously treated lesions were also included in the trial. The primary endpoint of the study was non-inferiority of the composite of cardiac death, myocardial infarction, and clinically-driven target vessel revascularization (TVR) at nine months follow-up. In addition, 25 percent of all patients were randomly assigned to undergo angiographic follow-up at nine months. The principal endpoint of the pre-specified angiographic sub-group was in-stent percent diameter stenosis at nine months. During the first nine months, 9.2 percent of patients receiving the Biosensors DES, and 10.5 percent of patients given the Cypher DES experienced a clinical adverse event that could be included in the primary composite endpoint, thus demonstrating that the Biosensors stent was non-inferior to the Cypher stent. A favorable trend towards the Biosensors stent was non-significant at the nine months follow-up endpoint. As anticipated, clinical event rates were higher in LEADERS compared with previous DES trials performed in patients with only on-label indications, because the LEADERS trial design permitted inclusion of any patient eligible for PCI. As a result, rates of death, myocardial infarction and stent thrombosis were similar for both stent types, but were 2.6 percent higher when compared to the earlier, less inclusive trials.

In the angiographic sub-group, there were no significant differences at 9 months between the in-stent percent diameter stenosis observed in the two patient groups, but there was a non-significant trend favoring the Biosensors stent. Although funded by Biosensors, LEADERS was independently developed, implemented and analyzed by the study investigators. Moreover, data management and analysis were performed by an independent academic institution.

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

Noble Netherlands And HES Beheer Close On 50/50 Joint-Venture In Maas Silo B.V.

Noble Netherlands B.V. (Noble), a subsidiary of global supply chain manager Noble Group Limited and H.E.S. Beheer N.V. (HES) have now closed on their acquisition of shares in Maas Silo B.V. (Maas Silo). Noble and HES each hold 50 percent of Maas Silo and have agreed the terms of a joint venture to operate Maas Silo going forwards.

Maas Silo was formed in 1999 by four Rotterdam companies, including HES and is now a fully-certified storage and transshipment company for grains and derivatives in the Rotterdam Botlek area, with facilities to process these raw materials. In addition to agribulk products, Maas Silo can store and transship edible and industrial oils.

Plans are being developed for an expansion of existing activities in tank storage together with entry into the market for stevedoring of mineral oils and chemicals. The location in the Botlek area, with a 420 metre deep water unloading pier (13.6 metres draft) is ideally suited for handling liquid bulk products by ship, inland shipping tankers, tank trucks or tank containers.

Noble Group (SGX: NOBL) is a market leader in managing the global supply chain of agricultural, industrial and energy products. We operate from over 100 offices in more than 40 countries, serving 4000+ customers. Noble manages a diversified portfolio of essential raw materials, integrating the sourcing, marketing, processing, financing and transportation.

HLN’s Share Placement Fully Subscribed

HLN Technologies Limited (HLN the Company or the Group), announced that its conditional placement of 21,000,000 new ordinary shares (the Placement Shares) in the capital of the Company at a placement price of S$0.149 for each Placement Share (the Placement), as announced on 27 August 2008, has been well-received and was fully subscribed. The placement agent is Kim Eng Securities Pte. Ltd. Completion of the placement is subject to the in-principle approval from the Singapore Exchange Securities Trading Limited (SGX-ST) for the listing of the Placement Shares.

Among the subscribers is Bobby Lim Chye Huat, who has subscribed to 38.1percent of the placement shares or 6.11percent of the Company’s enlarged share capital. Apart from becoming a substantial shareholder of the Company upon completion of the placement, Mr Lim will also be invited to join HLN’s Board as a Non-Executive Director after Completion. Mr Lim has voluntarily agreed to subject his shares to a moratorium period of not less than six months from the date of allotment. Mr Lim is currently the Managing Director of Tai Sin Electric Limited (Tai Sin), a company listed on the SGX-ST Main Board. With over three decades of experience in the electrical and engineering industry, Mr Lim is responsible for Tai Sin’s overall management, strategic directions and business development.

With full subscription, the Placement Shares represent approximately 19.1 percent of the Group’s existing issued and paid up share capital of 109,887,920 ordinary shares. Approximately S$2.93 million net proceeds will be raised from the placement which will be used to fund the expansion of the Group’s polymeric facility in Suzhou, PRC, repay loans to financial institutions and fund the expansion of the Group’s businesses through investments, mergers and acquisitions, joint ventures, strategic alliances, general working capital and/or other such purposes as the Directors may deem fit. The Placement will increase the issued and paid up share capital of HLN from 109,887,920 ordinary shares to 130,887,920 ordinary shares, with the Placement Shares representing approximately 16.0 percent of the Company’s enlarged share capital.

HLN Technologies Limited is involved in the manufacture and sale of a wide range of customised precision metallic, elastomeric and polymeric components. Our products are used in a variety of industries, principally in the office automation, consumer electronics, and automotive industries. With our very own in-house material formulation and compounding facilities, we are able to create important raw materials that are used in the production of our components. Coupled with our specialised polymeric die-cutting services, HLN serves as a One-Stop Solutions Provider for all of our customers’ components needs. HLN was listed on the then SESDAQ (now Catalist) of the SGX-ST on 25 November 2005, and was subsequently upgraded to the Mainboard on 22 January 2008. We have production facilities in Singapore, Johor, Batam, Shenzhen and Suzhou located near to our primary customer base.

Proposed Disposal Of Property Of ACI Industries Pte Ltd

Asian Micro Holdings Ltd (the Company or AMH) announced that its wholly owned subsidiary, ACI Industries Pte Ltd has on 27th August 2008 entered into a “Sales and Purchase Option” to dispose a property located at 20, Tech Park Crescent, Singapore 639112 (the property) to Qian Yi Marine Engineering Pte Ltd (the purchaser) for a total consideration of S$3.2 million in cash. The sales are expected to be completed by November 2008.

The Board believes that it is in the interest of the Company to dispose the property as it will enable the Company to reduce bank loans and to further improve its liquidity to embark on expansion of natural gas vehicles conversion and related business regionally.

The consideration was arrived at on a willing buyer willing seller basis. The disposal if successfully completed will not have significant impact on the net tangible assets of the Company for the financial year ending 30 June 2009.

Asian Micro Holdings Limited (listed in the SGX-SESDAQ in September 1999) provides recycling and precision cleaning of packaging trays and media/disk cassettes used in the hard disk drive and semiconductor industries in Singapore, China and Thailand. Asian Micro recently invested in Natural Gas Vehicle (NGV) conversion business and is now focused towards setting up a chain of network of NGV conversion centres. Though started only in July 2007, the Company has now set up a total of 6 NGV conversion centres in Thailand, Malaysia and Singapore. The Company also imports/exports NGV conversion kits, Compressed Natural Gas (CNG) engines, CNG cylinders, and CNG vehicles to expedite its growth and revenue. Currently specializing and promoting Dual Diesel Fuel (DDF) conversion for heavy duty diesel trucks, buses and prime movers to run on 50 percent diesel and 50 percent natural gas, it has become the alternate key business of the Company. Asian Micro intends to grow itself into an energy company entering the oil and gas sector by specialising in alternative and renewable fuels, mainly in Natural Gas.

C2O Acquires Work Cum Maintenance Vessel

C2O Holdings Limited announced that ValueRight International Limited (VRIL), a wholly-owned subsidiary of Hadi International Marine Services Pte. Ltd. (HIMS), the Company’s associated company, has acquired a work cum maintenance vessel (the Vessel) at a sum of US$4,898,000, for the purposes of fulfilling the charter contract disclosed in the Announcement (the Charter).

The Vessel is expected to be delivered at the end of 2009 to coincide with the commencement of the Charter.

The acquisition of the Vessel will be funded by internal resources and by bank loan.

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.

Inter-Roller's New Projects In India - Amritsar And Trivandrum Airports

Inter-Roller Engineering Limited announced that it has been awarded a contract worth $5.1 million to provide Baggage Handling Systems (BHS) to Amritsar and Trivandrum Airports in India.

These projects involve relocation and installation of arrival and departure systems in both airports. In order to meet the rising passenger traffic, the Company has been commissioned to complete these projects within the next 6 months.

Inter-Roller's presence in India has grown steadily over the last few years. Since the beginning of 2007, Inter-Roller has successfully secured contracts, both BHS and Air Cargo Handling Systems, in some 14 airports in India, making it the foreign company with one of the most BHS installations in India over the recent years.

Inter-Roller, a Singapore Mainboard-listed company, is one of the world's leading companies in the provision of airport logistics systems. Inter-Roller designs, engineers, manufactures, installs and supports airport logistics systems such as Baggage Handling System, Air Cargo Handling System, In-Flight Catering System and Express Courier Handling System. Headquartered in Singapore and with subsidiaries in Malaysia, China, the Middle East and United Kingdom, Inter-Roller has completed more than 100 projects spanning six continents and more than 25 countries.

Proposed Sale-And-Leaseback Of 3 AHTS Vessels And 2 DSV Vessels

Swiber Holdings Limited (the Company, and together with its subsidiaries, the Group) announced that its wholly-owned subsidiary, Kreuz Engineering Limited, has entered into five (5) Memoranda of Agreement (each an Agreement, and collectively, the Agreements) for the sale of the following vessels (Disposal) to the following buyers (each a Buyer). The Agreements are entered into simultaneously with the execution of five (5) bareboat charters by the respective Buyers for the charter of the same vessels to another wholly-owned subsidiary of the Company, Kreuz Offshore Marine Pte. Ltd. (Kreuz Offshore Marine) for a period of 10 years (the Agreements together with the bareboat charters collectively, the Sale-and-Leaseback Arrangements).

The vessels comprise a portion of the Group's marine assets, namely, three (3) anchor handling towing and supply vessels (AHTS) and two (2) diving support vessels (DSV) (collectively, the Vessels). Bukit Timah Offshore AS is a company established by R.S. Platou Finans Shipping A.S., one of the major ship leasing arrangers in Norway. Mountbatten Offshore AS is a wholly owned subsidiary of Atlantis Navigation AS a Norwegian ship lease company. This transaction was also arranged by Platou Finans.

The Sale-and-Leaseback Arrangements will enable the Company to finance its fleet expansion plan without straining its balance sheet and also to improve its cashflow. The aggregate value of the consideration of the Vessels is US$225.0 million and is determined on a willing buyer-willing seller basis, based on existing market conditions. The balance payment is to be made against delivery of the Vessels, in exchange for certain delivery documents pertaining to the Vessels. Under the Sale-and-Leaseback Arrangements, the Company shall provide a corporate guarantee, in respect of Kreuz Offshore Marine’s obligations, under each of the bareboat charters.

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.

By integrating our complementary services, we are able to provide customers with one-stop solutions for all the relevant stages of their offshore oil and gas projects.

First Ship Lease Trust to Present at Dahlman Rose & Co. 1st Annual Global Transportation Conference

FSL Trust Management Pte. Ltd. (FSLTM), Trustee-Manager of First Ship Lease Trust (FSL Trust), announced that Philip Clausius, Chief Executive Officer of FSLTM, is scheduled to present at the Dahlman Rose & Co. 1st Annual Global Transportation Conference in New York on Wednesday, September 10, 2008 at 1:45 p.m. ET.

The live webcast of the presentation can be accessed from FSL Trust’s website at www.firstshipleasetrust.com. The webcast replay and the presentation slides will be available on-demand following the presentation.

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. Upon successful closing of the third Yang Ming vessel by end October 2008, FSL Trust will have a diverse portfolio of 23 modern and high quality vessels, consisting of seven containerships, nine product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers. These vessels have an average age of approximately 3.2 years, and an average remaining lease period of approximately 9.2 years (excluding extension periods and early buy-out options). FSL Trust is listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) 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. With the Yang Ming acquisitions, it would have doubled the asset size of its portfolio since its listing in March 2007. More details on FSL Trust are available at www.firstshipleasetrust.com.

Karin's Subsidiary Signs Agreement With Lexmark

KARIN Technology Holdings Limited (KARIN or the Group) announced the signing of an authorized distributor agreement by Compucon Computers Limited (a wholly-owned subsidiary of KARIN) (Compucon) with Lexmark International (China) Limited (Lexmark).

Lexmark had appointed Compucom as its distributor in Hong Kong and Macau for its Printing and Imaging Products, which includes all inkjet printers, laser printers, related software and solutions. Compucon is also tasked to develop and promote demand for these products as well as to ensure that resellers are trained and capable of providing pre-sale and post-sale support to the end users such that the end users’ satisfaction are attained

This partnership is part of the Group’s plan to expand horizontally into new product range and develop new vertical service offerings in tandem with a more in-depth approach to marketing and servicing Lexmark products, the Group will also be enhancing its vertical service offering for Lexmark.

Listed on the Mainboard of Singapore Exchange (SGX) in March 2005, KARIN is a leading IT & Components Solutions and Services Provider in Hong Kong and the People’s Republic of China with a strong track record of more than 30 years. Since 1977, they have been primarily engaged in the electronic components and computer distribution business for various segments of the electronics industry including the communications, computer, electrical appliances and utility segments. In 1990s, they expanded their business to include outsourcing services such as IC application design solutions and data storage management solutions. Since its listing on the SGX’s Main Board, KARIN has carved out a growing presence in two core segments - Components Distribution and IT Infrastructure Solutions and Services – in the PRC, Hong Kong and Macau markets. With these focused segments under its stable, KARIN has witnessed compounded annual growth rates (CAGR) in excess of 30% on its Group revenue performance since 2005. In 2007, KARIN acquired I M I Kabel Pte Ltd, a Singapore-based distributor of data control cables for a variety of industries ranging from industrial automation to port and shipyard, offshore oilfields and petrochemical facilities.

 

 

Hartawan Holdings Sells Property

Hartawan Holdings Limited (the Company and together with its subsidiaries, the Group) announced that its wholly-owned subsidiary, Whitehouse Holdings Pte. Ltd., had entered into an Option Agreement to sell a property, a shophouse unit at Jurong East Street 13 (the Property), for a cash consideration of S$4.8 million to Bon Investment Pte Ltd (the Sale).

The option of sale has been exercised and the Group has received 10 percent of the sale consideration. Bon Investment Pte Ltd is an associate of a substantial shareholder of the Company, Mr Chow Bon Tong, who has a total shareholding interest of 5.53 percent in the Company. For the information of shareholders, neither Mr Chow Bon Tong nor Bon Investment Pte Ltd is an Interested Person within the definition prescribed under Chapter 9 of the Listing Manual of the Singapore Exchange Securities Trading Limited (Listing Manual).

The consideration was arrived at on a "willing-buyer-willing-seller" basis and took into consideration the capital value of the Property which, according to a desk-top valuation report by Orangetee.com Pte Ltd, was S$5.2 million as at 16 July 2008. Based on the net asset value of the Property as at 30 June 2008, there will be no gain or loss from the disposal of the Property.

Established in 1998 and listed on the Singapore Exchange, Hartawan (formerly Vita) is a diversified group with property leasing and management, shipping and coal trading interests. It currently owns and charters out 9 vessels and leases and manages 13 strategically located properties in Singapore. These properties are used for a variety of purpose, including hotel, offices, hostels, dormitories and warehouses. In 2006, the Group took a strategic 51 percent interest in J.L. Chancellor Pte Ltd. JLC has previously entered into a joint venture agreement with PT Nusantara Rimbayu Coal to jointly develop, mine and trade in three coal mines, located in Samarinda and Kutai Kartanegara, East Kalimantan, Indonesia.

Swiber Conquest Achieves Major Milestone On Pipelay Installation

Swiber Holdings Limited (Swiber or together with its subsidiaries, the Group), announced that its flagship pipelay barge, the Swiber Conquest, has reached a major milestone achieving 150 kilometers of pipelay work in a period of six months.

The barge has been operating non-stop since the commissioning for three major projects in Indonesia, Brunei, and Malaysia. Across all the projects, the barge has installed a total of 11 pipelines ranging from 6 inches to 16 inches in diameter in water depth varying from 5 meters to 55 meters and has achieved a lay rate of as high as 3.5 kilometres in one day.The barge is currently installing pipelines off the coast of Sarawak, Malaysia, after which it will sail off to install pipelines in Natuna Sea, Indonesia.

Currently, Swiber operates a fleet of 30 owned vessels, comprising 15 tug boats, 10 barges, one crane barge (Dalihao), one jack up barge, one accommodation barge, one submersible barge and one pipelay barge (Swiber Conquest). In addition, 21 vessels, comprising nine tug boats, three barges, two subsea support vessels, two accommodation barges, one 4,180 tons derrick crane barge, three pipelay barges, and one deepwater drilling vessel, are currently under construction/conversion. With the addition of these new vessels, Swiber’s fleet of offshore marine vessels will be increased to 51 by the end of FY2010, significantly boosting the Group’s capabilities and competitive edge in the offshore marine support and EPCIC services sector.

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.
By integrating our complementary services, we are able to provide customers with one-stop solutions for all the relevant stages of their offshore oil and gas projects.

Guangzhao Enters Sales And Purchase Agreement With Asia Venture Biotech Sdn. Bhd

Guangzhao Industrial Forest Biotechnology Group Limited (Guangzhao or the Group) announced that it has concluded a Sales and Purchase Agreement (the Agreement) with Asia Venture Biotech Sdn. Bhd. (AVB), a company incorporated in Malaysia, for the acquisition of 300,000 shares of Jalur Lipur Sdn. Bhd. (Jalur), taking its shareholding in Jalur to 80 percent from 50 percent previously.

Under the Agreement, Guangzhao accepts an offer by AVB to sell 300,000 ordinary shares of Jalur at RM$0.75 each, for a total cash consideration of RM$225,000.00, in accordance to Clause 10 of the Shareholders’ Agreement that was signed on 13 September 2007 between AVB and Guangzhao.

The Directors as appointed by AVB to Jalur’s board shall resign without replacement. AVB will also forgo the entitlement to nominate a candidate for Jalur’s Chief Executive Officer position.

Guangzhao Industrial Forest Biotechnology Group Limited ("Guangzhao" or "the Group") is engaged in tissue culture and propagation of plantlets and saplings. Its main product, the Guangzhao Fast-Growing Poplar, is a unique poplar which is able to grow at twice the normal rate and reach a height of 16-20 metres within four to five years. Currently, its acquired pine and tissue-cultured poplar are planted in over 18,600 hectares spread across eight provinces in the PRC for eventual harvest and sale to the pulp, board-making and timber industries.

Jurong Tech Inks Joint Venture Agreement And Equipment Sale And Purchase Agreement

Jurong Technologies Industries Corpn. Ltd (the Company or JTIC) announced that it has entered into a Joint Venture Agreement (the JV Agreement) with The Woodside Group Pte. Ltd. (SEMINDIA), a company incorporated in Singapore, on 3 September 2008 to be engaged in the business of Original Design and Manufacturing (ODM) services, electronic assembly, test, mark and packaging for a wide range of networking products including providing box build services for SEMINDIA’s products such as set top boxes, Wiimax and ADSL modem for the fast-growing broadband and consumer markets in India.

The joint venture company will be incorporated in Singapore and to be named JSEMTECH Holdings Pte Ltd (JSEMTECH). JSEMTECH is proposed to be incorporated by 30 September 2008 or such there later date as the parties may mutually agree. JTIC will own approximately 60 percent equity interests in JSEMTECH and SEMINDIA will own the remaining approximately 40 percent equity interests in JSEMTECH (the Agreed Proportions).

The paid up capital of JSEMTECH shall be S$20,973,635, which will comprise of (a) an initial cash subscription by each of JTIC and SEMINDIA amounting to an aggregate of S$1,250,000; (b) capitalisation of an initial loan by SEMINDIA of S$250,000; (c) the contribution of 4 Siemens SMT lines and accessories by SEMINDIA with an agreed value of S$7,662,622 and (d) the contribution of 6 Siemens SMT lines and accessories by JTIC with an agreed value of S$11,811,013.

Established in 1986, Jurong Technologies began providing Electronics Manufacturing Services ("EMS") to local as well as overseas electronics Original Equipment Manufacturers ("OEMs") in 1988, and has today become a name synonymous with top quality and innovative solutions. Headquartered in Singapore, Jurong Technologies has staff spread across its production facilities in Singapore, Malaysia, China (Suzhou and Tianjin), Indonesia (Batam) and Brazil (Jaguariuna), as well as sales and marketing support offices in Singapore and the United States. We are listed on the Main Board of the Singapore Exchange. A full-fledged yet dynamic manufacturing enterprise, Jurong Technologies is today a leading regional provider of EMS solutions.

Kingsmen Wins SBEA Service Partner Excellence Award For The Second Consecutive Year

Kingsmen Creatives Ltd (Kingsmen), announced that its subsidiary Kingsmen Exhibits Pte Ltd has won the Singapore Business Event Award 2008 - Service Partner Excellence.

This marks the 2nd consecutive win for Kingsmen since the Awards were first introduced in 2007.

Organised by the Singapore Exhibition and Convention Bureau (SECB), a group of the Singapore Tourism Board (STB), the Awards profile Singapore as a leading destination for business events by showcasing the professionalism and skills of the business events industry. The Awards recognise the industry’s contributions that have reinforced Singapore’s standing as a premier business travel and MICE destination.

Listed on the Main Board of the Singapore Exchange, Kingsmen is a leading communications design and production group in Asia Pacific and the Middle East. Established in 1976, its four business segments comprise Exhibitions & Museums, Retail & Office Interiors, Research & Design, and Integrated Marketing Communications.

Kingsmen offers a “one-stop-shop” solution through a vertical and horizontal integration of services, giving their clients the benefits of convenience and cost savings. Building on its design-led, quality and service-driven culture, the Group has established a visible brand name that is synonymous with creative and innovative solutions. Together with its affiliates, Kingsmen has a regional network of 16 offices and full service facilities in Asia Pacific and the Middle East. The Group has a long-standing base of clients from diverse industries including well-known names such as BMW, Burberry, DBS Bank, Dickson Group, Esprit, FJ Benjamin, Gucci, Nokia, Robinsons Group (including John Little and Marks and Spencer), Tiffany and Wing Tai.

FerroChina Enters Strategic Cooperation Agreement With Dongfeng Design Institute To Contribute To Sichuan Reconstruction Effort

FerroChina Limited (the Company or the Group) has entered into a 3-year strategic co operation agreement with DongFeng Design Institute (DFD) to co-develop “Earthquake Proof Steel Structure Buildings” as a showcase project (the Project) in Sichuan, Mao Xian.

Both companies target to secure more of such infrastructure and rebuilding projects with the successful completion of the Project. With the implementation of much stricter building standard by the National Development and Reform Commission, both companies seek to enhance our market position through providing quality design, workmanship and materials. The Project, to be built at a cost of RMB 16 million with phase 1 expected to be completed in January 2009, involves the construction of a school with accommodation for its staffs. The Project will be donated by DongFeng Honda Automotive Co Ltd and Mr She Chun Tai, the Group’s executive Chairman and CEO. DFD will be the main contractor while the Company will supply specially designed galvanized steel sheet and pre-painted galvanized steel sheet to the Project.

The State Council of PRC has on 27 August 2008 approved a 3-year, RMB 1.3 trillion Sichuan Reconstruction budget to restore houses, living condition and economic activities to the quake affected areas. The reconstruction efforts seek to provide 3.5 million rural houses, 978,000 town houses, 11,800 schools, 5,622 kilometres of road and create job to approximately 1 million people. According to Sichuan government officials, the estimated steel requirement for the rebuilding works is about 37 million tonnes. To-date, the Group and our staffs have contributed a total of RMB 2,190,643 in cash towards the Sichuan Earthquake Fund managed by Red Cross in Changshu.

FerroChina, a PRC-based company listed on the Main Board of Singapore Exchange on 19 May 2005, is a leading manufacturer of galvanised steel coils in Asia. Today, under the leadership of an international management team, FerroChina is the largest and one of the most cost efficient independent value-added coated steel processors in China, focusing on the niche segment of coated steel coils. Located in Changshu City, Jiangsu Province, PRC, our customers are mainly steel trading companies, steel structure engineering companies and steel processing companies in the PRC covering diverse industries including construction, agricultural, infrastructure, consumer electronics, automobile spare parts, computer parts, building materials and industrial applications. Our Group was awarded the ISO 9001 certification by the British Standard Institution, for our quality management system as well as the ISOU001 certification for our environmental-friendly technology. The Group's commitment to improve our processing efficiency and product quality has enabled us to increase our sales in the PRC as well as penetrate export markets. The Group leverages on our international sales contacts for exports to more than 40 countries mainly to Middle East, Europe and Asia.

Singapore Investors Inject S$10 Million Into Anwell's Solar Business

Anwell Technologies Limited (Anwell or The Group) announced that a group of Singapore investors have invested S$10 million in Anwell’s Solar Business. The Group’s wholly-owned subsidiary, China Bright Int’l Enterprises Ltd (China Bright) will issue 3-year interest bearing redeemable notes to these investors.

As the notes are not issued by the holding company, there will be no dilution effect to the listed shares of the Group.

Thin-film solar is one of the fastest growing technologies in the alternative energy sector and it is creating opportunities for material suppliers, solar panel manufacturers and many other industry players along the value chain. The expected growth is due in part to the rapid deployment of solar technology, but also to the low cost, flexibility and manufacturing advantages associated with thin-film solar technology compared with the now dominant crystalline silicon. According to NanoMarkets, a leading industry analyst firm based in U.S, the thin-film photovoltaics (TFPV) market will produce 26GW (gigawatts) of power worldwide and will generate over US$20 billion in revenues by 2015.

Anwell Technologies Ltd. (Anwell) is a global leader in providing integrated solutions for optical disc replication business. The Group’s activities include the manufacturing and sales of optical disc production lines and blank optical discs. Currently, Anwell has business relationships with over 120 optical disc manufacturers. With the various proprietary technologies acquired since the company was founded in year 2000, Anwell has continued to study the opportunities to tap into other industries, including OLED, solar industries and etc.

Union Steel Subsidiary Sells Property

Union Steel Holdings Limited (the Company) announced that CMC Recycling Singapore Pte Ltd has exercised an Option To Purchase of the property known as 30 Jalan Samulan Singapore 629129 (the Property) for a total consideration of S$6,500,000 (the Sale) from the Company’s wholly owned subsidiary, YLS Steel Pte. Ltd (YLS). The sale price was derived on a wiling-buyer and willing-seller basis.

The Sale is subject to the general conditions of "The Singapore Law Society's Conditions of Sale 1999" and approval and consent of the relevant government authority.

The Sale is expected to have a positive impact on the results of Group for the financial year ending 30 June 2009.

Founded in 1984, Union Steel Holdings Limited ("Union Steel") is at the forefront of metal recycling activities in Singapore. The Group provides a one-stop supply centre for the recycling of ferrous and non-ferrous scrap metals, the trading of steel products and the provision of other services such as waste collection and management, demolition works, rental of steel plates and car scrapping. In FY2007, Union Steel recycled about 130,000 tonnes of scrap metals at its recycling plants, making it one of the largest metal recyclers in Singapore in terms of volume of metals recycled.

FSL Trust to seek ADR Quotation on International OTCQX

FSL Trust Management Pte. Ltd. (FSLTM), Trustee-Manager of First Ship Lease Trust (FSL Trust), announced today it has filed a registration statement with the United States Securities and Exchange Commission (SEC) for the establishment of a Level 1 American Depository Receipt (ADR) program. If the registration statement is declared effective, FSL Trust intends to seek quotation of the ADRs on the PrimeQX Tier of International OTCQX (OTCQX). FSLTM has appointed Dahlman Rose & Co. (DRC) as its Principal American Liaison (PAL) for OTCQX quotation and the Bank of New York Mellon (BNYM) as the Depository for the ADR program. FSL Trust is the first Singapore entity to seek quotation on OTCQX.

OTCQX is the premier market tier for non-U.S. companies that trade over-the-counter and are listed on qualified foreign stock exchanges, including the Singapore Exchange Securities Trading Limited (SGX-ST). OTCQX provides an efficient platform for non-U.S. listed companies to access the U.S. markets, without the associated costs and burdens of a traditional exchange listing and compliance to the SEC and Sarbanes-Oxley requirements. Current international companies which have their ADRs quoted on OTCQX include Marks & Spencer, Roche, BASF, Adidas Group, Akzo Nobel, and Air France-KLM.

The proposed quotation of FSL Trust’s ADRs on the OTCQX market tier will be non-dilutive for existing unitholders as no new or additional units will be issued. Each ADR will be represented by 10 underlying FSL Trust’s units listed on SGX-ST with such underlying FSL Trust units held by BNYM. FSLTM will provide updates relating to the establishment of its ADR program and application for quotation on OTCQX in due course.

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. Upon successful closing of the third Yang Ming vessel by end October 2008, FSL Trust will have a diverse portfolio of 23 modern and high quality vessels, consisting of seven containerships, nine product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers. These vessels have an average age of approximately 3.2 years, and an average remaining lease period of approximately 9.2 years (excluding extension periods and early buy-out options). FSL Trust is listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) 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. With the Yang Ming acquisitions, it would have doubled the asset size of its portfolio since its listing in March 2007.

Acquisition Of An Associate Company By Swiber Marine (Malaysia) Sdn Bhd

Swiber Holdings Limited (the Company) announced that Swiber Marine (Malaysia) Sdn Bhd (Swiber Marine Malaysia), a wholly-owned subsidiary of the Company, has acquired 2,000 ordinary shares, representing 20 percent equity in the share capital of Perfect Motive Sdn Bhd (Perfect Motive), Malaysia at a total consideration of RM200,000.

The issued and paid up share capital of Perfect Motive is RM10,000 comprising 10,000 ordinary shares. The principle activity of Perfect Motive is that of investment holdings.

The investment in Perfect Motive 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 and its Group for the current financial year ending 31 December 2008.

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.

By integrating our complementary services, we are able to provide customers with one-stop solutions for all the relevant stages of their offshore oil and gas projects.

 

CEO's Walk The Talk

“…At COSCO, we remain sanguine about the future. Global trade growth coupled with ChinaÕs surging commodities imports are boosting demand for ships. As global orders flow in, they expand the pool of business opportunities for those in the ship repair, ship building and marine engineering sector in the region. Therefore, we can anticipate more orders in these areas. COSCO shipyards have orders to be delivered beyond 2010. This is a boon for us, as we still have capacity to meet the growing demand at our six shipyards in China, all located near the high-traffic shipping routes along China’s seaboard.”



Captain Wei Jiafu
Chairman
Cosco Corporation (Singapore) Ltd



Singapore's Most Promising Company Profile

Listed on the main board of the SGX, COSCO Corporation (Singapore) Ltd (COSCO) is a leading ship repair, shipbuilding & marine engineering and dry bulk shipping group. The Group owns 51 percent of the largest shipyard group in China, COSCO Shipyard Group, and a fleet of 12 dry bulk carriers. It also operates shipping agencies. COSCO is the listed subsidiary of China Ocean Shipping (Group) Company, the largest shipping group in China.


 

 































 

Historical Price Data
 Date Open High Low Close
Volume  
03 Sep 2008 2.260 2.260 2.100 2.100
15,453,000
02 Sep 2008 2.290 2.300 2.130 2.300
12,575,000
01 Sep 2008 2.250 2.300 2.230 2.300
5,592,000
29 Aug 2008 2.190 2.300 2.170 2.300
15,376,000
28 Aug 2008 2.120 2.170 2.110 2.130
10,827,000


Fundamentals
Historial EPS ($) a
0.15030
Rolling EPS ($) e
0.19061
NAV ($) b
0.4445
Historical PE
13.639
Rolling PE f
10.755
Price / NAV b
4.612
Dividend ($) d
0.040000
52 Weeks High
8.200
Par Value ($)
n.a.
Dividend Yield (%) d
1.951
52 Weeks Low
1.970
Market Cap (M)
4590.452
Issued & Paid-up Shares c
2,239,245,000
 
a Based on latest Full Year Results Announcement
b Based on latest Results Announcement (Full Year, Half Year or Interim)
c Rounded to the nearest thousand. Updated on 29/08/2008 . 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

01 Sep 2008

Dissolution Of Subsidiaries By Cosco (Singapore) Pte Ltd

09 Aug 2008

Speech by Captain Wei Jiafu, President & CEO of COSCO Group at COSCO Appreciation Dinner

10 Aug 2008

Retirement And Appointment Of Vice Chairman, President And Executive Director

06 Aug 2008

Changes In The Composition Of The Board And Board Committees

06 Aug 2008

Announcement Of Appointment Of Vice Chairman, President And Executive Director




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