23 February 2009
Name Volume
GoldenAgr 393,686,000
HSI14000MBLeCW090330 158,442,000
Capitaland 134,299,833
China Hongx 133,916,000
HSI13200MBLePW090330 118,042,000
Name Value
UOB 334,207,040
Capitaland 297,331,224
DBS 293,688,935
SingTel 261,513,269
OCBC Bk 178,353,380
Name Price Chg
GLD 10US$ 96.020 +4.020
OUE 10.400 +1.680
DBS Bk 6% NCPS 10 98.500 +1.000
UOB 5.05%NCPS 100 96.900 +1.000
OCBC Bk 5.1%NCPS 100 94.000 +0.600
Note: Weekly movement as at 20 February 2009
 
Singapore: IPO candidates challenged by volatile market
Singapore: Buoyant property launches defy poor economy
Singapore : Office rents may plunge 30-40% in 2009: Savills
Singapore : 44% of S'pore based firms will freeze execs' base pay: poll
Singapore : Class action looms for financial institutions
Malaysia : Kuala Lumpur - Wealth of top 40 tycoons down RM76.8b
Indonesia : Indonesian economy grows 5.2%, slowest in 2 years
Indonesia : Jakarta - Jakarta mulls revising 2009 Budget
Thailand : Bangkok - 8b baht Thai loan insurance plan to help SMEs, exporters
United Kingdom : London - UK pushes back Budget to April

OKP
Award Of Tender


The Board of Directors of OKP Holdings Limited (the "Company") announced that its wholly-owned subsidiary company, Or Kim Peow Contractors (Private) Limited, had been awarded a contract by FWP Joint Venture, Singapore (a joint venture between Foster Wheeler Asia Pacific Pte Ltd and Worley Parsons Pte Ltd) to carry out selected civil works in Singapore.

The amount of the contract is S$21.7 million. The contract is expected to be completed by June 2010.

The contract is expected to contribute positively to, but has no material impact on, the earnings per share or net tangible assets per share of the Company and its subsidiaries for the current financial year ending December 31, 2009.

Details..


Advance SCT
Announcement Of Appointment Of Chief Executive Officer


Main Board-listed Advance SCT Limited ("ASCT" or "the Company"), a leading copper recycling & material supply chain management group, has appointed Mr Kang Hui Huat, the current Group Executive Director, as its Acting Group Chief Executive Officer.

Mr Kang was appointed as Executive Director on September 9, 2008. He has extensive experience in commodity trading and manufacturing. He is also on Board of the major subsidiaries of the Group, namely Singapore Copper Technologies Pte Ltd. and Tsing Yi Enterprises Pte Ltd.

Meanwhile, the Group will continue to look for a suitable candidate to replace its former CEO Tea Yeok Kian, who had earlier resigned to pursue other business opportunities.

Details...


TT International
Investment Agreement With Hornington Enterprises Limited For An Investment Amount Of Up To S$50 Million


SGX Main Board-listed TT International Limited ("TT International" or the "Company"), a leading international trader and distributor of consumer electronics, announced that it had on February 18, 2009 entered into an agreement ("Investment Agreement") with Hornington Enterprises Limited ("Hornington"), a leading Hong Kong company involved in the distribution of computers and related accessories, the manufacture and trading of electronics and toys, etc for the investment of a principal amount of up to SGD50 million (the "Investment Amount").

In summary, the principal terms of the Investment Agreement are as follows:

  1. Hornington will lend the Company the Investment Amount, to be disbursed in two tranches, the first SGD20 million on the date falling two (2) working days after the date the Conditions Precedent are satisfied ("Investment Date"), and the balance on the date falling three (3) months from the date of the first disbursement. Interest on the prevailing principal amount outstanding shall accrue at a rate of 12 per cent per annum;
  2. The Company may opt to prepay part or the entire Investment Amount, together with accrued interest. Subject to the conversion right of Hornington set out in (iii) below, the Company shall repay all amounts owing under the Investment Agreement (including accrued interest) to Hornington 36 months from the Investment Date ("Maturity Date") or such later date as Hornington may agree; and
  3. Hornington may request to convert the outstanding Investment Amount (subject to the SGX-ST free float requirement; any accrued interest shall be waived) into new ordinary shares in the Company at the issue price of SGD0.025 per new share (subject to adjustments in the issue price in the event of any capital-raising exercise, share buyback or capital reduction) at any one time from the Maturity Date to the date falling 36 months later.

Details...


Best World
Best World Delivers Another Profitable FY2008


Mainboard-listed Best World International Limited ("Best World" or the "Group"), a direct selling company which specializes in the distribution of proprietary health and lifestyle products through its regional direct selling network, reported a revenue of $96.1 million for the financial year ended December 31, 2008 ( "FY2008" ).

"In the midst of the weakening global economy, Best World is still adhering to our basic 3Ps growth strategy to strengthen our business through product innovation, people development training system and global distribution network to overcome this challenging times." said Dr Dora Hoan, Group Chief Executive Officer of Best World.

For FY2008, the Group achieved revenue of $96.1 million, representing a 6.0 per cent decrease due to a weaker 4Q2008. This weakness was primarily due to poor global economic climate resulting in low consumer demand for the Group's products in all key markets. In line with the revenue, cost of sales decreased by 8.0 per cent for FY2008. Gross profit margin was relatively stable at 76.7 per cent for the 12 months ending December 31, 2008 although it was slightly higher at 81.4 per cent for 4Q2008 due to fewer shipments and hence lower freight charges and customs duties.

Details...


Olam
Incorporation of Subsidiary


Olam International Limited (the "Company") announced that the Company had incorporated a new subsidiary in Lao People's Democratic Republic, Outspan Bolovens Limited ("OBL") with a registered capital of US$377,648 and paid up capital of US$113,294.

The principal activities of OBL are those of managing plantations, sourcing, processing and supply chain management of agricultural products and food ingredients.

The incorporation of OBL is not expected to have any significant impact on the financial position of the Company for the financial year ending June 30, 2009.

Details...




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OKP Holdings Limited (OKP) is a leading home-grown infrastructure and civil engineering company in the region, specialising in the construction of airport runways and taxiways, expressways, flyovers, vehicular bridges, urban and arterial roads, airport infrastructure and oil & gas related infrastructure for petrochemical plants and oil storage terminals.

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

In the past two years, the Group started to forge a presence in the Oil and Gas sector. Its foray into the Oil and Gas sector started in 2006 when it took on its first civil works contract on Jurong Island, Singapore's oil refining and petrochemical hub. It has since completed a project which is related to the $750 million Universal Terminal, a massive petroleum storage facility. OKP has since gone on to secure a number of other projects, including civil works relating to ExxonMobil's multi-billion dollar petrochemical project, known as the Singapore Parallel Train Project.

OKP's clientele includes various public sector agencies such as the Land Transport Authority, JTC Corporation, the Public Utilities Board, the Civil Aviation Authority of Singapore and the Housing and Development Board as well as private sector organisations such as Foster Wheeler Asia Pacific Pte Ltd and WorleyParsons Pte Ltd, Rotary Engineering Limited and Far East Organisation. OKP was listed on the Singapore Exchange Dealing and Automated Quotation System (SESDAQ), now renamed CATALIST, on July 26, 2002. Its listing was upgraded from the SGX Catalist to the SGX Mainboard with effect from July 25, 2008.

For the full year ended December 31, 2008, OKP reported a net profit after tax and minority interest of $9.5 million, a 13.4 per cent decline from the $11.0 million it made in the preceding year. The Group's turnover stood at $101.8 million, a drop of 18.3 per cent from $124.7 million in FY2007. The Group Managing Director, Mr Or Toh Wat said the results were satisfactory in a year of ups and downs. "It's been a fruitful year of considerable activity, and while the way ahead appears challenging in the light of the current economic climate, we have built up our resilience over the years and are thus confident of our ability to weather any storm. Even though operating conditions can be difficult at times, we have been able to sustain our profit margins. Our results reflect the underlying strength and resilience of our company in a climate of mounting uncertainties," he said.

HISTORICAL PRICE DATA
 Date Open High Low Close Volume  
20 Feb 2009 0.300 0.300 0.300 0.300 4,000
19 Feb 2009 0.310 0.310 0.310 0.310 10,000
18 Feb 2009 0.310 0.310 0.310 0.310 10,000
17 Feb 2009 0.315 0.315 0.295 0.300 254,000
16 Feb 2009 0.305 0.315 0.305 0.315 231,000


FUNDAMENTALS
Historial EPS ($) a
   0.06311
Rolling EPS ($) e
   0.06311
NAV ($) b
   0.2676
Historical PE
   4.754
Rolling PE f
  4.754
Price / NAV b
  1.121
Distribution ($) d
  0.020000
52 Weeks High
  0.615
Par Value ($)
  n.a.
Distribution Yield (%) d
   6.667
52 Weeks Low
  0.130
Market Cap (M)
   44.958
Issued & Paid-up Shares c
   149,861,000
 
   
a Based on latest Full Year results announcement, adjusted for the current number of shares.
b Based on latest results announcement (Full Year, Half Year or Interim), adjusted for the current number of shares.
c Rounded to the nearest thousand. Updated on 17/02/2009. 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
g Based on latest results announcement (Full Year, Half Year or Interim), adjusted for the current number of shares. Cash value does not include bank loans or other borrowings.

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