11 May 2009
Name Volume
GoldenAgr 1,005,345,000
China Hongx 925,779,000
Chartered 775,675,000
EUNetworks 511,113,000
Oceanus 397,543,000
Name Value
DBS 1,258,503,978
UOB 812,542,527
Capitaland 679,186,325
SingTel 670,125,947
OCBC Bk 646,874,510
Name Price Chg
UOB 14.740 +3.240
DBS 11.900 +1.220
CITYDEV 8.490 +2.010
SIA 200 12.560 + 1.880
SIA 12.540 +1.840
Note: Weekly movement as at 08 May 2009
 
Japan: Tokyo – Japan GDP set to shrink by over 3 per cent even with stimulus.
China: Beijing – China Firms can buy stakes, invest in Taiwan from May
Singapore : SGX is developing fuel oil futures contract
Singapore : Singapore Banks will emerge stronger from crisis: BCG
Singapore : Deals start cooking in slow office market
Singapore : Tech firms ready for worst-case scenario
Shanghai : Analysts warn of China's stock market bubble
Detroit : GM poised to wipe the slate clean

Epure International Limited
Epure completes joint venture with BJ Sound Enviro for project in Lanzhou City


Mainboard listed company Epure International Ltd ("Epure") has announced that the company has entered into a joint venture with Beijing Sound Environment Group Co. Ltd ("BJ Sound Enviro") to undertake a Build Operate and Transfer ("BOT") project in Gansu Province, Lanzhou City.

Epure is one of China's leading turnkey water & wastewater treatment solutions providers. The group develops proprietary technologies

BJ Sound Enviro is a PRC company and the holding company of various PRC subsidiaries. The company is also engaged in the principal business of investment and operation environmental protection projects. It is owned by Beijing Sanghua Environmental Technology Development Co. Ltd, Epure's non-executive chairman Wen Yibo, and unrelated third party.

The ownership in the joint venture is as follows:

  • BJ Sound Enviro (85 per cent)
  • Epure (15 per cent)

Primarily the JV company is to invest in a BOT project that is located in Gansu province, Lanzhou city. The project is expected to have a treatment capacity of up to 100,000 tonnes of wastewater per day. The investment is approximately RMB129 million, and concession period is 30 years.

The project expects to be funded from a bank loan and equity. The equity part is approximately 30 per cent of the investment amount. That is, the equity contribution from Epure is approximately RMB5.85 million, which is about 0.5 per cent of Epure's latest audited net tangible and assets value.

Details..


Parkway Life Reit
Parkway Life REIT reports 37.6 per cent increase in gross revenue to $16.3 million for 1Q 2009


Parkway Life REIT is Asia's largest healthcare REIT, and listed on the Singapore Exchange in August 2007. It invests in income producing real estate or real estate related assets in the Asia Pacific region that are used for healthcare and healthcare related purposes.

Parkway Life REIT performed well in the present uncertain economic climate. It registered a gross revenue of $16.3 million and net property income of $15.2 million for 1Q 2009, representing an increase of 37.4 per cent and 36.6 per cent respectively over the previous corresponding period.

The results were attributed to the back of higher revenues from its Singapore Hospital Properties and positive contributions from its Japan Properties. As at March 31, 2009, the committed occupancy for its properties stood at 100 per cent.

The income distributable to Unitholders grew 16.6 per cent to $11.4 million for 1Q 2009. The distribution per unit increased correspondingly to 1.89 per cent for 1Q 2009 and 7.56 cents on an annualized basis. Based on a market price of $0.76 as the close of market on March 31, 2009. Plife REIT's Unitholders are expected to enjoy an annualized distribution yield of 10 per cent for 1Q 2009.

Details...


The Asia Water Technology Ltd (Asia Water) was listed on the Singapore Exchange in 2005. It is a water treatment specialist that provides complete and integrated engineering solutions for water purification and wastewater treatment systems. This includes the designing, procurement, installation, commissioning and management of the systems.

The company primary business is in the PRC through it subsidiary Wuhan Kaidi Water Services Co. Ltd (Kaidi Water) which was incorporated in 1996. With its own patented core technologies, the company keeps a close working relationship with international technology partners like Kennicott Water Systems and Keppel Seghers Technology Group.

The group's prime source of income is from three main business segments which include water purification, wastewater treatment, and other auxiliary projects. Its track record in developing water purification treatment systems and customized automated control systems for power plaints in the PRC spans over a decade. In addition, the group has completed over 300 projects across 26 provinces in the PRC.

It is also one of only three companies that are licensed to provide water purification and treatment system to nuclear power plants. More recently, the company has moved into the area of portable water and wastewater treatment, and invested in many industrial and municipal water treatment projects in the PRC on a BOT/BOO or TOT basis. In addition, the company also provides consultancy services in the design and implementation of various automated control systems.

Asia Water recently announced the incorporation of a new subsidiary company, Huangshi Chengtou Water Services Co., Ltd (Huangshi Chengtou) in Huangshi City. This move involves a registered capital of RMB10 million (approximately S$2.2 million) that serves as a requirement of the Huangshi City Government as an investment vehicle to undertake future projects.

HISTORICAL PRICE DATA
 Date Open High Low Close Volume  
08 May 2009 0.095 0.095 0.090 0.095 80,000
07 May 2009 0.100 0.105 0.095 0.095 837,000
06 May 2009 0.095 0.105 0.095 0.095 1,685,000
05 May 2009 0.095 0.095 0.095 0.095 23,000
30 Apr 2009 0.095 0.095 0.095 0.095 3,000


FUNDAMENTALS
Historial EPS ($) a
-0.01754
Rolling EPS ($) e
-0.01754
NAV ($) b
0.3984
Historical PE
-
Rolling PE f
-
Price / NAV b
0.238
Dividend ($) d
-
52 Weeks High
0.400
Cash Value ($)g
0.1210
Dividend Yield (%) d
-
52 Weeks Low
0.060
Price / Cash Valueg
0.785
Issued & Paid-up Shares c
196,919,000
52 Weeks Low
n.a.
Market Cap (M)
18.707
Stock Categories
Water/China
   
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 02/03/2009
d Dividend is based on latest Full Year results announcement, adjusted for current number of shares 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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