AA Group warns of losses in first half
AA Group Holdings Ltd warned yesterday it expects losses for the first half of 2008. It cited reasons including higher raw material costs and rising oil prices.
Grand Banks Yachts full-year profit down 52%
GRAND Banks Yachts saw full year profit fall 52 per cent to $5 million from $10.6 million as sales stayed almost flat at $113.8 million.
ST Marine wins $29.2m contract
ST Engineering's marine unit ST Marine has secured a $29.2 million contract to lengthen and upgrade the crane capacity of the Derrick Pipelay Barge Java Constructor for Clough Java Offshore.
Sincere Watch posts $393,000 loss for Q4
SINCERE Watch posted a net loss attributable to equity-holders of $393,000 for the fourth quarter ended March, citing foreign exchange losses stemming from the Swiss franc volatility. Revenue rose 19 per cent to $113.8 million.
Eng Wah reports $11m profit for full year
ENG Wah Organization has recorded $12 million in revenue and $11 million in net profit for the full year ended March 31. This was helped by other operating income of $10.3 million which was mainly due to a gain arising from the disposal of its investment in Daikin Air-Conditioning (Singapore).
Saturday, May 31, 2008
宏威集团 ：蓝光技术和太阳能使公司飞速发展
参会者对从10米长生产线下来的蓝光光碟充满好奇。
接受测试的光碟正完美地播放着香港歌手夏韶声的音乐。参会者已经对宏威的蓝光碟片生产设备有了直观的印象，因为公司已将这套设备运到法兰克福参加世界上最大的光学媒体业贸易展览会。
事件：媒体科技产业博览会从2008年5月6日开始至5月8日结束。
宏威是唯一在参展会场放置蓝光光盘生产线并现场启动生产线作示范的参展商。
它给Expedia Media留下了深刻的印象，这是加利福尼亚一家集光学媒体制造，包装及分销于一体的公司，当场就签署协议购买总和为7位数的生产线。
“之后，我们非常高兴地将一个印有Expedia Media名字的“已出售”标签贴在机器上 ” 执行董事胡伟健在昨日接受NextInsight采访时回顾道（5月15日，星期四）。
胡伟健说，“那些到过宏威展台的参观者，有些将会成为潜在客户。”
宏威本月在法兰克福博览会的展台。照片由宏威提供在新加坡交易所上市的宏威公司――是全球仅有的蓝光光盘复制设备的两个制造商之一。
日本的索尼公司也生产这种设备，但仅供自己使用。
从去年第四季度起，宏威蓝光光碟复制设备开始交货，之后持续收到订单。
生产一台机器需要六到八周的时间。宏威这次在法兰克福签订的价值为650万美元订单中包括在展会上出售的那台机器。
其他三个订单是购买DVD刻录光盘（DVDR）和DVD预录光盘的复制设备。交付期将从今年第三季度开始。
其中两个订单来自镭射影碟――阿根廷最大的光盘制造商，他们在智利，秘鲁和哥斯达黎加都有工厂。
宏威的SL2D刻录盘生产线将成为首条在阿根廷安装的DVD刻录盘生产线。
订单
除了在贸易展示会上签订的合同， 宏威在3月31日还有价值1.11亿港元的成品和半成品设备库存。这些设备将在未来几个季度运出并在财务报表以销售收入体现出来。
与此相比， 5700万港币的设备销售额将体现在第一季报中。在第一季度业绩公布中，宏威说，公司设备销售滞销是因为光盘制造商已面临两难局面：是扩大现有的数字通用光盘格局，或是进行新的投资，布局蓝光光盘市场。
在今年2月东芝公司宣布它将停止对处于白热化竞争的HD DVD项目继续投资后，光盘制造商对光盘的未来格局有着明确的看法――即蓝光光盘。
较低的设备销售额使得集团今年第一季度的税后收益亏损1700万港币（去年同期盈利203,000港币）。胡伟健说：“虽然我们的收入有所波动，但这行业在蓝光光盘和制造商所投资的刻录盘市场驱动下仍处于循环上升中。”宏威第一季度的营业额为2.26亿港元，其中1.69亿港币来于媒体产品的生产及贸易业务。
胡伟健说：“为了提高所有机器的生产效率，一些设备被用于研发使用，所以媒体产品工厂的产量下降了10%。”他还说：“目前该研发项目已经完成。在本季度末，基于研发完成，生产量将比第一季度提高20 ％ 。”
太阳能业务 
胡伟健：行业正处于循环上升阶段。（沈琪摄像）宏威正在快速发展一种新业务，这就是太阳能业务，它与光盘业务在技术上有些共通性。
胡伟健：行业正处于循环上升阶段。（沈琪摄像）宏威正在快速发展一种新业务，这就是太阳能业务，它与光盘业务在技术上有些共通性。
这些技术包括采用薄膜技术，真空技术和自动化。宏威与首位客户巴西能源公司（Brazil Energy）签署了一项初步协议，销售给他们一套可立即投入使用的薄膜硅太阳能电池生产线。
巴西能源公司打算每年向宏威采购起始电容为40兆瓦的Sunlite-120型号生产线。宏威还未确定最终售价，但市价大概是每瓦特250美元，这意味如果成交的话，宏威机器将售得一亿美元（不含折扣）。
该设备将在明年下半年交付。另外，宏威也与巴西能源公司谈论关于出售5兆瓦的薄膜硅太阳能电池组件的初步协议。
交货期预计从明年第一季度开始，这样能使巴西能源先开始其太阳能业务，而无需等到制造设备全部完成。
胡伟健说，公司考虑到在太阳能产业的其他潜在客户， 所以在中国河南设立了一家太阳能电池工厂。
目前全球有3家公司在生产薄膜太阳能组件和相关的资本设备。
Month-end window-dressing gives Straits Times Index a late push
A shove in the final minutes takes it up 31.84 points to 3,192.62
By R SIVANITHY SENIOR CORRESPONDENT
MONTH-ENDING window-dressing was a distinct possibility, given the late push on the Straits Times Index (STI) and the divergent performance of the index versus the broad market.
The other notable theme throughout the week was that China is out while commodities are in.
The STI yesterday tracked Hong Kong's Hang Seng Index before a hefty shove in the final few minutes took it up 31.84 points to 3,192.62.
The broad market, however, recorded 215 rises versus 176 falls, excluding warrants, suggesting a much more mixed session. For the week, the STI rose 70 points or 2.2 per cent.
Substantial Shareholders/Directors' Transactions
| Substantial Shareholders/Directors' Transactions |
| Published on: May 31, 2008 |
| Shareholding | ||||||||||
| Stock | Transacted Date | Substantial Shareholder/Director | Buy/Sell/ Conv | No of Shares('000) | Price Per Share $ | Before('000) | %Issued Cap Before Change | After('000) | %Issued Cap After Change | |
| First Link | 30-May-2008 | Alphasky Grp | Buy | 1345 | 0.12 | 30856 | 6.27 | 32201 | 6.54 | |
| Asia-Pac Strat | 30-May-2008 | The Nassim Fd | Deemed Interest | Buy | 220 | na.00 | 57280 | 10.41 | 57500 | 10.45 |
| Aztech Sys | 30-May-2008 | Mun Hong Yew | Buy | 125 | 0.26 | 93140 | 22.13 | 93265 | 22.16 | |
| Asia-Pac Strat | 29-May-2008 | The Nassim Fd | Deemed Interest | Buy | 160 | na.00 | 57120 | 10.39 | 57280 | 10.41 |
| GK Goh | 29-May-2008 | GKG Inv Hldgs | Buy | 49 | na.00 | 174439 | 53.25 | 174488 | 53.26 | |
| Straits Asia Res | 29-May-2008 | Straits Resources Ltd | Deemed Interest | Sell | 41150 | na.00 | 555829 | 50.90 | 514679 | 47.10 |
| Viz Branz | 29-May-2008 | Chng Beng Beng | Buy | 91 | 0.51 | 40189 | 29.11 | 40280 | 29.17 | |
| BBR Hldgs | 28-May-2008 | BBR Hldgs Ltd | Buy | 390 | na.00 | 247341 | 16.05 | 247731 | 16.08 | |
| Food Junction | 28-May-2008 | Armor Capital Mgt, LLC | Sell | 1963 | na.00 | 6365 | 5.29 | 4402 | 3.66 | |
| ISDN Hldgs | 28-May-2008 | Karl-Walter Braun | Buy | 2500 | na.00 | 22500 | 11.47 | 25000 | 12.74 | |
| Union Steel | 28-May-2008 | Ang Yew Chye | Buy | 95 | 0.19 | 23256 | 6.70 | 23351 | 6.73 | |
| Zhongui Hldgs | 28-May-2008 | Capwest SA | Sell | 137 | na.00 | 17575 | 5.78 | 17438 | 5.73 | |
| Arianecorp | 27-May-2008 | Chow Tat Ming | Buy | 5382 | 0.04 | 69500 | 7.93 | 74882 | 7.97 | |
| Ascendas REIT | 27-May-2008 | The Capital Grp Co Inc | Deemed Interest | Sell | 11127 | na.00 | 76904 | 5.82 | 65777 | 4.95 |
| Guocoleisure | 27-May-2008 | Quek Leng Chan | Deemed Interest | Buy | 469 | 0.81 | 837020 | 61.18 | 837489 | 61.22 |
| Haw Par Corp | 27-May-2008 | Arnhold & S Bleich | Deemed Interest | Buy | 80 | na.00 | 25607 | 12.97 | 25687 | 13.01 |
| HG Metal | 27-May-2008 | Tan Chan Too | Buy | 200 | 0.40 | 21370 | 5.03 | 21570 | 5.08 | |
| Nam Lee | 27-May-2008 | Nam Lee Hldgs | Buy | 200 | na.00 | 248619 | 54.81 | 248819 | 54.86 | |
| Scorpio East | 27-May-2008 | Ang Sin Liu | Buy | 40 | na.00 | 9286 | 8.03 | 9326 | 8.06 | |
| Union Steel | 27-May-2008 | Ang Yew Chye | Buy | 47 | 0.20 | 23209 | 6.69 | 23256 | 6.70 | |
| Banyan Tree | 26-May-2008 | The Capital Grp Co Inc | Deemed Interest | Sell | 7500 | na.00 | 60435 | 7.97 | 52935 | 6.98 |
| BBR Hldgs | 26-May-2008 | Bruno Sergio V | Deemed Interest | Buy | 1000 | na.00 | 246341 | 15.99 | 247341 | 16.05 |
| BBR Hldgs | 26-May-2008 | Claudia Valsangiacomo-B | Deemed Interest | Buy | 1000 | na.00 | 246341 | 15.99 | 247341 | 16.05 |
| BBR Hldgs | 26-May-2008 | Marco Brandestini | Deemed Interest | Buy | 1000 | na.00 | 246341 | 15.99 | 247341 | 16.05 |
| BBR Hldgs | 26-May-2008 | Tectus S.A | Deemed Interest | Buy | 1000 | na.00 | 246341 | 15.99 | 247341 | 16.05 |
| BBR Hldgs | 26-May-2008 | Proceq S.A | Deemed Interest | Buy | 1000 | na.00 | 246341 | 15.99 | 247341 | 16.05 |
| BBR Hldgs | 26-May-2008 | BBR Hldgs Ltd | Buy | 1000 | na.00 | 246341 | 15.99 | 247341 | 16.05 | |
| Bonvests | 26-May-2008 | Henry Ngo | Deemed Interest | Buy | 190 | 1.10 | 324738 | 80.75 | 324928 | 80.79 |
| Enzer Corp | 26-May-2008 | Lim Keng Hock | Buy | 369 | 0.15 | 14185 | 14.26 | 14554 | 14.63 | |
| GK Goh | 26-May-2008 | Goh Yew Lin | Deemed Interest | Buy | 200 | 0.98 | 174239 | 53.19 | 174439 | 53.25 |
| GK Goh | 26-May-2008 | Goh Geok Khim | Deemed Interest | Buy | 200 | 0.98 | 174239 | 53.19 | 174439 | 53.25 |
| GK Goh | 26-May-2008 | GKG Inv Hldgs | Buy | 200 | na.00 | 174239 | 53.19 | 174439 | 53.25 | |
| Lee Kim Tah | 26-May-2008 | Lee Yong Chuan | Deemed Interest | Buy | 106 | 0.57 | 327336 | 64.76 | 327442 | 64.78 |
| Lee Kim Tah | 26-May-2008 | Lee Soon Teck | Deemed Interest | Buy | 106 | 0.57 | 328779 | 65.05 | 328885 | 65.07 |
| Lee Kim Tah | 26-May-2008 | Lee Kim Tah Inv PL | Buy | 106 | na.00 | 327336 | 64.76 | 327442 | 64.78 | |
| Multistar | 26-May-2008 | Chua Seng Kiat | Buy | 100 | 0.08 | 29293 | 23.20 | 29393 | 23.28 | |
| Nam Lee | 26-May-2008 | Nam Lee Hldgs | Buy | 100 | na.00 | 248519 | 54.79 | 248619 | 54.81 | |
| Nam Lee | 26-May-2008 | Yong Poon Miew | Deemed Interest | Buy | 100 | 0.15 | 248519 | 54.79 | 248619 | 54.81 |
| Nam Lee | 26-May-2008 | Yong Koon Chin | Deemed Interest | Buy | 100 | 0.15 | 248519 | 54.79 | 248619 | 54.81 |
| Popular Hldgs | 26-May-2008 | Chou Cheng Ngok | Deemed Interest | Buy | 234 | 0.29 | 248538 | 55.23 | 248772 | 55.28 |
| Popular Hldgs | 26-May-2008 | World Hldgs(Pte) Ltd | Buy | 234 | na.00 | 248538 | 55.23 | 248772 | 55.28 | |
| SNF Corp | 26-May-2008 | Lim Keng Hock | Buy | 1363 | 0.10 | 43216 | 26.05 | 44579 | 26.87 | |
| Arianecorp | 23-May-2008 | Grande Pac | Sell | 1000 | na.00 | 99966 | 10.64 | 98966 | 10.53 | |
| BBR Hldgs | 23-May-2008 | Bruno Sergio V | Deemed Interest | Buy | 1999 | na.00 | 244342 | 15.86 | 246341 | 15.99 |
| BBR Hldgs | 23-May-2008 | Claudia Valsangiacomo-B | Deemed Interest | Buy | 1999 | na.00 | 244342 | 15.86 | 246341 | 15.99 |
| BBR Hldgs | 23-May-2008 | BBR Hldgs Ltd | Buy | 1999 | na.00 | 244342 | 15.86 | 246341 | 15.99 | |
| BBR Hldgs | 23-May-2008 | Tectus S.A | Deemed Interest | Buy | 1999 | na.00 | 244342 | 15.86 | 246341 | 15.99 |
| BBR Hldgs | 23-May-2008 | Proceq S.A | Deemed Interest | Buy | 1999 | na.00 | 244342 | 15.86 | 246341 | 15.99 |
| Bonvests | 23-May-2008 | Henry Ngo | Deemed Interest | Buy | 15 | 1.09 | 324723 | 80.74 | 324738 | 80.75 |
| CapitaMall Trust | 23-May-2008 | The Capital Grp Co Inc | Deemed Interest | Buy | 7808 | 3.35 | 79937 | 4.80 | 87745 | 5.27 |
| China New Town | 23-May-2008 | SRE Invest Hldgs | Deemed Interest | Buy | 500 | na.00 | 641361 | 45.78 | 641861 | 45.81 |
| China New Town | 23-May-2008 | SRE Grp Ltd | Deemed Interest | Buy | 500 | na.00 | 641361 | 45.78 | 641861 | 45.81 |
| China New Town | 23-May-2008 | Shi Bing | Deemed Interest | Buy | 500 | 0.23 | 641361 | 45.78 | 641861 | 45.81 |
| China New Town | 23-May-2008 | Shi Jian | Deemed Interest | Buy | 500 | 0.23 | 641361 | 45.78 | 641861 | 45.81 |
| China New Town | 23-May-2008 | Sinopower Invest Ltd | Buy | 500 | na.00 | 641361 | 45.78 | 641861 | 45.81 | |
| ComfortDelgro | 23-May-2008 | Silchester Intl Investors | Buy | 21081 | na.00 | 126412 | 6.06 | 147493 | 7.07 | |
| Comm Design | 23-May-2008 | Bay Cheow Guan | Buy | 30 | 0.17 | 54827 | 60.25 | 54857 | 60.28 | |
| Uni-Asia Fin | 23-May-2008 | Motokuni Yamashiro | Sell | 300 | na.00 | 31250 | 11.97 | 30950 | 11.86 | |
| Union Steel | 23-May-2008 | Ang Yew Chye | Buy | 115 | 0.20 | 23094 | 6.65 | 23209 | 6.69 | |
| UOL Grp | 23-May-2008 | Silchester Intl Investors | Buy | 260 | 3.86 | 39766 | 5.00 | 40026 | 5.03 | |
| Aspial Corp | 22-May-2008 | Koh Wee Seng | Buy | 15 | 0.32 | 43892 | 12.62 | 43907 | 12.63 | |
| BBR Hldgs | 22-May-2008 | Bruno Sergio V | Deemed Interest | Buy | 1000 | na.00 | 243342 | 15.79 | 244342 | 15.86 |
| BBR Hldgs | 22-May-2008 | Claudia Valsangiacomo-B | Deemed Interest | Buy | 1000 | na.00 | 243342 | 15.79 | 244342 | 15.86 |
| BBR Hldgs | 22-May-2008 | Marco Brandestini | Deemed Interest | Buy | 1000 | na.00 | 243342 | 15.79 | 244342 | 15.86 |
| BBR Hldgs | 22-May-2008 | Tectus S.A | Deemed Interest | Buy | 1000 | na.00 | 243342 | 15.79 | 244342 | 15.86 |
| BBR Hldgs | 22-May-2008 | Proceq S.A | Deemed Interest | Buy | 1000 | na.00 | 243342 | 15.79 | 244342 | 15.86 |
| BBR Hldgs | 22-May-2008 | BBR Hldgs Ltd | Buy | 1000 | na.00 | 243342 | 15.79 | 244342 | 15.86 | |
| China Paper | 22-May-2008 | Li Pengju | Buy | 1450 | na.00 | 0 | 0.00 | 1450 | 0.36 | |
| Guocoleisure | 22-May-2008 | Quek Leng Chan | Deemed Interest | Buy | 909 | 0.82 | 836076 | 61.11 | 836985 | 61.18 |
| Nam Lee | 22-May-2008 | Nam Lee Hldgs | Buy | 100 | na.00 | 248419 | 54.77 | 248519 | 54.79 | |
| Nam Lee | 22-May-2008 | Yong Koon Chin | Deemed Interest | Buy | 100 | 0.15 | 248419 | 54.77 | 248519 | 54.79 |
| Nam Lee | 22-May-2008 | Yong Poon Miew | Deemed Interest | Buy | 100 | 0.15 | 248419 | 54.77 | 248519 | 54.79 |
| Parkway Hldgs | 22-May-2008 | James Coulter | Deemed Interest | Sell | 34662 | na.00 | 219944 | 28.61 | 185282 | 24.10 |
| Parkway Hldgs | 22-May-2008 | TPG-Axon Cap Mgt L.P | Deemed Interest | Sell | 34662 | na.00 | 100755 | 13.11 | 66093 | 8.60 |
| Parkway Hldgs | 22-May-2008 | TPG-Axon GP LLC | Deemed Interest | Sell | 34662 | na.00 | 100755 | 13.11 | 66093 | 8.60 |
| Parkway Hldgs | 22-May-2008 | David Bonderman | Deemed Interest | Sell | 34662 | na.00 | 219944 | 28.61 | 185282 | 24.10 |
| Parkway Hldgs | 22-May-2008 | Dinakar Singh LLC | Deemed Interest | Sell | 34662 | na.00 | 100755 | 13.11 | 66093 | 8.60 |
| Parkway Hldgs | 22-May-2008 | Newbridge Asia Adv III Inc | Deemed Interest | Sell | 34663 | na.00 | 160350 | 20.86 | 125687 | 16.35 |
| Parkway Hldgs | 22-May-2008 | Newbridge Asia III L.P | Deemed Interest | Sell | 34663 | na.00 | 95789 | 12.46 | 61126 | 7.95 |
| Parkway Hldgs | 22-May-2008 | TPG-HF Mgt LLC | Deemed Interest | Sell | 34662 | na.00 | 100755 | 13.11 | 66093 | 8.60 |
| Parkway Hldgs | 22-May-2008 | TPG-Axon Partners | Deemed Interest | Sell | 34662 | na.00 | 100755 | 13.11 | 66093 | 8.60 |
| Parkway Hldgs | 22-May-2008 | Blum G.A III LLC | Deemed Interest | Sell | 34663 | na.00 | 160350 | 20.86 | 125687 | 16.35 |
| Parkway Hldgs | 22-May-2008 | Tarrant Cap Adv Inc | Deemed Interest | Sell | 34662 | na.00 | 219944 | 28.61 | 185282 | 24.10 |
| Parkway Hldgs | 22-May-2008 | Blum Cap Partners L.P | Deemed Interest | Sell | 34663 | na.00 | 160350 | 20.86 | 125687 | 16.35 |
| Parkway Hldgs | 22-May-2008 | Richard Blum | Deemed Interest | Sell | 34663 | na.00 | 160350 | 20.86 | 125687 | 16.35 |
| Parkway Hldgs | 22-May-2008 | Dinakar Singh | Deemed Interest | Sell | 34662 | na.00 | 100755 | 13.11 | 66093 | 8.60 |
| Parkway Hldgs | 22-May-2008 | Tarrant Advisors Inc | Deemed Interest | Sell | 34662 | na.00 | 219944 | 28.61 | 185282 | 24.10 |
| Parkway Hldgs | 22-May-2008 | Newbridge Asia Genpar III LP | Deemed Interest | Sell | 34663 | na.00 | 160350 | 20.86 | 125687 | 16.35 |
| UIC | 22-May-2008 | Telegraph Dev | Deemed Interest | Buy | 172 | na.00 | 468216 | 33.99 | 468388 | 34.00 |
| UIC | 22-May-2008 | John Gokongwei, Jr | Deemed Interest | Buy | 172 | 2.85 | 468216 | 33.99 | 468388 | 34.00 |
| Viz Branz | 22-May-2008 | Poh Choo Bin | Buy | 13 | na.00 | 13987 | 10.13 | 14000 | 10.14 | |
| Viz Branz | 22-May-2008 | Chng Beng Beng | Buy | 31 | 0.50 | 40158 | 29.08 | 40189 | 29.11 | |
| Asia Env | 21-May-2008 | Atorka Grp hf | Buy | 1958 | na.00 | 68453 | 18.83 | 70411 | 19.37 | |
| China New Town | 21-May-2008 | SRE Invest Hldgs | Deemed Interest | Buy | 500 | na.00 | 640861 | 45.74 | 641361 | 45.78 |
| China New Town | 21-May-2008 | Sinopower Invest Ltd | Buy | 500 | na.00 | 640861 | 45.74 | 641361 | 45.78 | |
| China New Town | 21-May-2008 | Shi Bing | Deemed Interest | Buy | 500 | 0.20 | 640861 | 45.74 | 641361 | 45.78 |
| China New Town | 21-May-2008 | Shi Jian | Deemed Interest | Buy | 500 | 0.20 | 640861 | 45.74 | 641361 | 45.78 |
| China New Town | 21-May-2008 | SRE Grp Ltd | Deemed Interest | Buy | 500 | na.00 | 640861 | 45.74 | 641361 | 45.78 |
| Furama | 21-May-2008 | Ng Kim Suan | Buy | 579 | 2.96 | 1110 | 0.72 | 1689 | 1.09 | |
| Hartford Edu | 21-May-2008 | Doris Chung Gim Lian | Sell | 2603 | na.00 | 2603 | 0.54 | 0 | 0.00 | |
| Hartford Edu | 21-May-2008 | Raffles Edu Corp Ltd | Buy | 150651 | na.00 | 247784 | 51.11 | 398435 | 82.19 | |
| Hartford Edu | 21-May-2008 | Chew Hua Seng | Sell | 16772 | na.00 | 16772 | 3.46 | 0 | 0.00 | |
| Leeden Ltd | 21-May-2008 | Ong Nai Pew | Deemed Interest | Buy | 487 | na.00 | 11827 | 6.77 | 12314 | 7.05 |
| New Lakeside | 21-May-2008 | Li Chun Hua | Deemed Interest | SA | 33000 | 0.05 | 0 | 0.00 | 33000 | 8.27 |
| New Lakeside | 21-May-2008 | China Origin Invest | SA | 33000 | 0.05 | 0 | 0.00 | 33000 | 8.27 | |
| New Lakeside | 21-May-2008 | Song Qing Min | Deemed Interest | SA | 33000 | 0.05 | 0 | 0.00 | 33000 | 8.27 |
| Novo Grp | 21-May-2008 | Yu Wing Keung Dicky | Buy | 5050 | na.00 | 28036 | 4.44 | 33086 | 5.24 | |
| Rickmers Maritime | 21-May-2008 | UBS AG | Deemed Interest | Sell | 1537 | na.00 | 19612 | 4.63 | 18075 | 4.27 |
| Thai Beverage | 21-May-2008 | Khunying Wanna S | Deemed Interest | Buy | 2000 | 0.26 | 9575070 | 38.13 | 9577070 | 38.14 |
| Thai Beverage | 21-May-2008 | Khunying Wanna S | Deemed Interest | Buy | 1095 | 0.26 | 9577070 | 38.14 | 9578165 | 38.14 |
| Thai Beverage | 21-May-2008 | Charoen Sirivadhanabhakdi | Deemed Interest | Buy | 1095 | 0.26 | 9577070 | 38.14 | 9578165 | 38.14 |
| Thai Beverage | 21-May-2008 | Golden Cap (S'pore) Ltd | Buy | 1095 | na.00 | 694000 | 2.76 | 695095 | 2.77 | |
| Asia Env | 20-May-2008 | Atorka Grp hf | Buy | 4042 | na.00 | 64411 | 17.72 | 68453 | 18.83 | |
| Ausgroup | 20-May-2008 | DWS Invest Gmbh | Sell | 600 | na.00 | 8327 | 2.11 | 7727 | 1.96 | |
| Ausgroup | 20-May-2008 | DWS Hldgs & Service Gmbh | Deemed Interest | Sell | 10600 | na.00 | 32011 | 8.12 | 21411 | 7.97 |
| Ausgroup | 20-May-2008 | DB Cap Markets (Deut) Gmbh | Deemed Interest | Sell | 910 | na.00 | 35852 | 9.10 | 34942 | 8.87 |
| China Enersave | 20-May-2008 | Koo Ah Seang | Buy | 500 | 0.04 | 20900 | 1.36 | 21400 | 1.39 | |
| China New Town | 20-May-2008 | Shi Bing | Deemed Interest | Buy | 400 | 0.21 | 640461 | 45.71 | 640861 | 45.74 |
| China New Town | 20-May-2008 | Shi Jian | Deemed Interest | Buy | 400 | 0.21 | 640461 | 45.71 | 640861 | 45.74 |
| China New Town | 20-May-2008 | SRE Invest Hldgs | Deemed Interest | Buy | 400 | na.00 | 640461 | 45.71 | 640861 | 45.74 |
| China New Town | 20-May-2008 | SRE Grp Ltd | Deemed Interest | Buy | 400 | na.00 | 640461 | 45.71 | 640861 | 45.74 |
| China New Town | 20-May-2008 | Sinopower Invest Ltd | Buy | 400 | na.00 | 640461 | 45.71 | 640861 | 45.74 | |
| China Paper | 20-May-2008 | Ong Tiong Seng | Buy | 800 | na.00 | 0 | 0.00 | 800 | 0.20 | |
| Dayen Env | 20-May-2008 | Goi Seng Hui | Sell | 1000 | na.00 | 26946 | 13.17 | 25946 | 12.68 | |
| Delong Hldgs | 20-May-2008 | Best Decade Hldgs | Sell | 12000 | na.00 | 344980 | 64.47 | 332980 | 62.23 | |
| Global Voice | 20-May-2008 | Colonial Hldg Co Ltd | Deemed Interest | Buy | 24738 | na.00 | 175046 | 7.01 | 199784 | 8.01 |
| Global Voice | 20-May-2008 | Commonwealth Ins Hldg | Deemed Interest | Buy | 24738 | na.00 | 175046 | 7.01 | 199784 | 8.01 |
| Global Voice | 20-May-2008 | Colonial First State Grp | Deemed Interest | Buy | 24738 | na.00 | 175046 | 7.01 | 199784 | 8.01 |
| Global Voice | 20-May-2008 | Commonwealth Bnk of Aus | Deemed Interest | Buy | 24738 | na.00 | 175046 | 7.01 | 199784 | 8.01 |
| Hartford Edu | 20-May-2008 | Ong Seow Yong | Deemed Interest | Sell | 640 | na.00 | 640 | 0.13 | 0 | 0.00 |
| Hartford Edu | 20-May-2008 | Chew Chin Hua | Sell | 1016 | na.00 | 1016 | 0.21 | 0 | 0.00 | |
| Jade Tech | 20-May-2008 | Soh Guan Cheow Anthony | Deemed Interest | Sell | 102200 | na.00 | 151122 | 13.69 | 48922 | 4.43 |
| Jade Tech | 20-May-2008 | Asia Pac Links Ltd | Sell | 51000 | na.00 | 95622 | 9.46 | 44622 | 4.03 | |
| Olam Intl | 20-May-2008 | The Capital Grp Co Inc | Deemed Interest | Sell | 1991 | na.00 | 103196 | 6.03 | 101205 | 5.91 |
| Pan Hong Prop | 20-May-2008 | Wong Lam Ping | Deemed Interest | Buy | 614 | na.00 | 301399 | 61.51 | 302013 | 61.64 |
| Pan Hong Prop | 20-May-2008 | Chan Heung Ling | Buy | 614 | 0.43 | 13399 | 2.73 | 14013 | 2.86 | |
| Sihuan Pharma | 20-May-2008 | Guo Weicheng | Buy | 400 | na.00 | 0 | 0.00 | 400 | 0.09 | |
| Sihuan Pharma | 20-May-2008 | Che Fengsheng | Buy | 2000 | na.00 | 1030 | 0.22 | 3030 | 0.64 | |
| S'pore Windsor | 20-May-2008 | Robert Alexander Stone | Buy | 732 | na.00 | 7120 | 5.82 | 7852 | 6.42 | |
| Straits Asia Res | 20-May-2008 | The Capital Grp Co Inc | Deemed Interest | Sell | 15453 | na.00 | 65301 | 5.98 | 49848 | 4.56 |
| Sunshine Hldgs | 20-May-2008 | Deutsche Invest Mgt | Sell | 4169 | na.00 | 52383 | 6.30 | 48214 | 5.80 | |
| Sunshine Hldgs | 20-May-2008 | Deutsche Bank Americas | Deemed Interest | Sell | 4196 | na.00 | 53205 | 6.39 | 49009 | 5.89 |
| Thai Beverage | 20-May-2008 | Charoen Sirivadhanabhakdi | Deemed Interest | Buy | 2000 | 0.26 | 9575070 | 38.13 | 9577070 | 38.14 |
| Thai Beverage | 20-May-2008 | MM Grp Ltd | Deemed Interest | Buy | 2000 | na.00 | 7377870 | 29.39 | 7379870 | 29.39 |
| Thai Beverage | 20-May-2008 | Golden Cap (S'pore) Ltd | Buy | 2000 | na.00 | 692000 | 2.76 | 694000 | 2.76 | |
| Tiong Woon | 20-May-2008 | Credit Agri Asset Mgt SA | Deemed Interest | Sell | 2678 | na.00 | 19324 | 5.72 | 16646 | 4.93 |
China Taisan to raise $49.4 million in IPO
Published May 29, 2008
By LYNETTE KHOO
KNITTED fabric maker China Taisan Technology Group Holdings yesterday launched its initial public offer of 233 million shares at 24 cents apiece.
The 233 million shares comprise 223.2 million new shares and 9.8 million vendor shares. The IPO aims to raise net proceeds of $49.4 million for the company, which it plans to use to acquire new equipment, expand research and development, set up new sales and service centres, fund general expenses and for working capital.
The offer consists of 8 million public-offer shares and 225 million placement shares. The invitation shares represent 25.11 per cent of China Taisan's enlarged share capital and are offered at a historic price-earnings ratio of 4.7 times, based on FY2007 net earnings.
Giving a breakdown, China Taisan said the bulk of the proceeds ($38.2 million) will be used to acquire multi-track electronic tubular knitting machines, new face finishing and processing equipment to make peach finish fabrics, and computerised jacquard knitting machines.
Besides expanding R&D, the company will set up sales and servicing centres in Shanghai, Hong Kong and Xiamen, and boost marketing activity.
Daiwa Securities SMBC Singapore is the manager, underwriter and placement agent for the listing of China Taisan, which is scheduled to start trading on the main board on June 6.
For FY2007, China Taisan reported a 388 per cent year-on-year jump in net profit to 182.69 million yuan (S$35.9 million) from 37.4 million yuan, as revenue rose 265 per cent to 810.87 million yuan from 222.1 million yuan due largely to higher sales of performance fabric.
China Taisan's knitted fabric is used in the manufacture of sports and leisure apparel by international and local sports brands such as Umbro, Nike, Puma, Anta, Kappa, Lotto, Wanjielong, Eland, Adidas, Reebok, FILA, Mizuno, Diadora, Bossini, Giordano, Erima, Li-Ning, Qiaodan, 361°, Septwolves, Lilang and K-boxing.
China Taisan's chief executive Lin Wen Chang pointed to the Beijing Olympics in August, the Guangzhou Asian Games 2010 and Shenzhen World University Games 2011 as opportunities that will raise awareness of sports and fitness apparel and spur demand for it in China.
'Reputable apparel brands have also been rolling out new and innovative products with enhanced functions and characteristics, and we believe that will increase demand for our performance fabrics,' Mr Lin said.
Going forward, the group will focus on performance fabrics, he said. This segment contributed 93.3 per cent of revenue in fiscal 2007 and posted the highest gross profit margin of China Taisan's three business segments at 31.9 per cent for that year.
The acquisition of the equipment is expected to more than double production capacity for Spandex performance fabrics. The company will also expand its product range by introducing new performance fabrics with innovative functions, characteristics and designs.
By LYNETTE KHOO
KNITTED fabric maker China Taisan Technology Group Holdings yesterday launched its initial public offer of 233 million shares at 24 cents apiece.
The 233 million shares comprise 223.2 million new shares and 9.8 million vendor shares. The IPO aims to raise net proceeds of $49.4 million for the company, which it plans to use to acquire new equipment, expand research and development, set up new sales and service centres, fund general expenses and for working capital.
The offer consists of 8 million public-offer shares and 225 million placement shares. The invitation shares represent 25.11 per cent of China Taisan's enlarged share capital and are offered at a historic price-earnings ratio of 4.7 times, based on FY2007 net earnings.
Giving a breakdown, China Taisan said the bulk of the proceeds ($38.2 million) will be used to acquire multi-track electronic tubular knitting machines, new face finishing and processing equipment to make peach finish fabrics, and computerised jacquard knitting machines.
Besides expanding R&D, the company will set up sales and servicing centres in Shanghai, Hong Kong and Xiamen, and boost marketing activity.
Daiwa Securities SMBC Singapore is the manager, underwriter and placement agent for the listing of China Taisan, which is scheduled to start trading on the main board on June 6.
For FY2007, China Taisan reported a 388 per cent year-on-year jump in net profit to 182.69 million yuan (S$35.9 million) from 37.4 million yuan, as revenue rose 265 per cent to 810.87 million yuan from 222.1 million yuan due largely to higher sales of performance fabric.
China Taisan's knitted fabric is used in the manufacture of sports and leisure apparel by international and local sports brands such as Umbro, Nike, Puma, Anta, Kappa, Lotto, Wanjielong, Eland, Adidas, Reebok, FILA, Mizuno, Diadora, Bossini, Giordano, Erima, Li-Ning, Qiaodan, 361°, Septwolves, Lilang and K-boxing.
China Taisan's chief executive Lin Wen Chang pointed to the Beijing Olympics in August, the Guangzhou Asian Games 2010 and Shenzhen World University Games 2011 as opportunities that will raise awareness of sports and fitness apparel and spur demand for it in China.
'Reputable apparel brands have also been rolling out new and innovative products with enhanced functions and characteristics, and we believe that will increase demand for our performance fabrics,' Mr Lin said.
Going forward, the group will focus on performance fabrics, he said. This segment contributed 93.3 per cent of revenue in fiscal 2007 and posted the highest gross profit margin of China Taisan's three business segments at 31.9 per cent for that year.
The acquisition of the equipment is expected to more than double production capacity for Spandex performance fabrics. The company will also expand its product range by introducing new performance fabrics with innovative functions, characteristics and designs.
新加坡股市收盘走高；未来数周或呈区间波动
新加坡股市周五收盘走高，追随前夜美国股市的涨势。
美国经济增长数据好于预期以及油价回落等因素推动美国股市走高。
但交易员们却重申，尽管油价在纽约交易时段一度跌至每桶126.62美元，但依然处于高位，因此，市场近期不太可能会大幅走高。
某交易员称，他认为，随着人们逐渐开始意识到通货膨胀问题的严重性，预计未来数周基准股指将在3100-3300点区间内波动。
海峡时报指数收盘涨31.84点，至3192.62点，涨幅1.0%。
30只成份股中有20只收盘走高，大盘有321只股票上涨，有248只股票下跌。
市场成交量为19亿股，高于周四的约12亿股。
美国经济增长数据好于预期以及油价回落等因素推动美国股市走高。
但交易员们却重申，尽管油价在纽约交易时段一度跌至每桶126.62美元，但依然处于高位，因此，市场近期不太可能会大幅走高。
某交易员称，他认为，随着人们逐渐开始意识到通货膨胀问题的严重性，预计未来数周基准股指将在3100-3300点区间内波动。
海峡时报指数收盘涨31.84点，至3192.62点，涨幅1.0%。
30只成份股中有20只收盘走高，大盘有321只股票上涨，有248只股票下跌。
市场成交量为19亿股，高于周四的约12亿股。
Thursday, May 29, 2008
Brokers' Take
SembCorp Marine
May 28 close: $4.43
Morgan Stanley, May 27
Summary: We retain our 'overweight-V' rating and raise our price target to $4.80, while our mid-cycle multiple of 18 times 09 estimates is unchanged.
However, extended visibility of orders from Petrobras' recent announcement and high oil prices could push the stock near its peak trading range of 20 times, implying a near-term price as high as of $5.40.
What's New: Last week, we hosted the management of SembCorp Marine (SMM) to meet with US-based clients. We came out more confident about the business fundamentals and less apprehensive about industry concerns.
Investor feedback: Investors are very bullish on the macro theme of oil services industry, yet concerned by rig builder's limited operating leverage.
Positive takeaways from meetings include: Strong order momentum, order visibility from the Petrobras announcement, capacity expansion option, and revenue per unit increase due to input cost increase and margin improvement.
What's changed: Our EPS estimate revision is based on lower earnings from 30 per cent owned subsidiary Cosco and slower than expected order flow in H1 08 taking 2008 EPS lower by 9 per cent, but our 2009 estimates move up based on higher-than-expected margin from improved pricing power.
Risks do exist: SMM's stock price is up 27 per cent in the last three months, while the oil price is up 33 per cent in the same period. The stock is trading at 18 times forward earnings, above its long-term average. We believe lots of positive news has been factored in the price.
OVERWEIGHT
First Resources May 28 close: $1.13 Macquarie Research, May 26
First Resources May 28 close: $1.13 Macquarie Research, May 26
Event: We hosted First Resources (FR) on a four-day non-deal roadshow in Hong Kong and Singapore. The group, comprising the CEO and IR manager, presented FR's Q1 08 results and its corporate strategy. Investors were positive on the growth story, but in general wanted assurance that the current legal case was closed. We maintain an 'outperform' on First Resources.
Key questions: What is management's FY08 net profit expectation? Likely to exceed its previous expectation of US$110 million (Q1 08 was US$34 million) for the following reasons: Strong Q1 08 crude palm oil production of about 72,000 tonnes, or 24 per cent of the full-year target of 300,000 tonnes. Given the typical bumper crop in H2, FY08 production might reach about 320,000 tonnes (up 15 per cent y-o-y), or 7 per cent higher than guidance.
Strong Ebitda margin likely to be sustainable given an estimated stable production cost of US$200 per tonne for 2008, with the locking in of 40 per cent of the production forward contract and of the price of its FY08 fertiliser requirement at about 10 per cent below the spot price. Even with the potential increase in labour costs, higher production should help achieve stable production costs on a per-tonne basis given that about 75 per cent of costs are fixed costs (labour and fertiliser).
What is FR's dividend policy? There is none currently; however, a dividend policy will be set this year. An expected (positive) net cashflow of US$50 million for FY08 can support a dividend payout of about 20 per cent. But given its growth strategy, FR should remain a capital-appreciation play rather than a dividend play.
What is the viability of biodiesel investments? Biodiesel investment is now viable with the current spread of diesel and palm oil prices, coupled with the export tax differential between palm oil and biodiesel in Indonesia. FR's biodiesel plant of 250,000 tonne per annum is scheduled to start in Q4 08.
What is FR's view on CPO prices? CPO prices are likely to remain firm in the medium term. Palm oil demand for food should remain the key driver with rising consumption from emerging economies. While the potential change in biofuel mandates may influence future demand for biofuel, the response lag in palm oil supply should ensure that supply/demand dynamics remain tight for the next four to five years. Hence, FR expects current CPO prices (about US$1,100 per tonne) to be maintained for the next few years.
Is there any pending legal case? Management assured investors that there were no more pending legal cases and the recent legal case involving ex-shareholder, Martias, has been closed. There has been no impact on the company's financials or plantation assets from this case.
Price catalyst: 12-month price target: $1.60 based on a discounted cash flow methodology.
Catalyst: Rising yield from its young plantations, strong palm oil prices.
Action and recommendation: Maintain Outperform. We continue to like First Resources for its excellent asset quality, good estate management and attractive valuation. MAINTAIN OUTPERFORM
Compiled by CHOW PENN NEE
新加坡股市收盘走高，追随美国股市涨势；油价担忧或限制涨幅
新加坡股市周四收盘走高，因美国股市前夜走高及美国经济前景预期更为乐观提振投资者人气。
不过分析师表示，由于通货膨胀担忧依然令市场承压，即便美国今日公布的第一季度经济增长数据强于预期，预计市场上涨空间也将受限。
DBS唯高达(DBS Vickers)在一份报告中表示，油价高企担忧可能会给海峡时报指数上涨带来阻力。
海峡时报指数收盘涨28点，至3160.78点，涨幅0.9%。
该指数30只成份股中20只出现上涨，大盘有300只股票上扬，256只股票下跌。
市场成交量依然较小，仅有12亿股成交，周三成交量也在12亿股左右。
不过分析师表示，由于通货膨胀担忧依然令市场承压，即便美国今日公布的第一季度经济增长数据强于预期，预计市场上涨空间也将受限。
DBS唯高达(DBS Vickers)在一份报告中表示，油价高企担忧可能会给海峡时报指数上涨带来阻力。
海峡时报指数收盘涨28点，至3160.78点，涨幅0.9%。
该指数30只成份股中20只出现上涨，大盘有300只股票上扬，256只股票下跌。
市场成交量依然较小，仅有12亿股成交，周三成交量也在12亿股左右。
Wednesday, May 28, 2008
28-05-2008: Genting bags new PSC in Indonesia
KUALA LUMPUR: Genting Bhd has entered into a new production-sharing contract (PSC) with BPMIGAS, Indonesia’s oil and gas supervisory body, for the Kasuri Block in Indonesia.
In a statement yesterday, Genting said its 95%-owned subsidiary Genting Oil & Gas Ltd (GOGL) via Genting Oil Kasuri Pte Ltd (GOKPL) signed the new PSC with BPMIGAS for the block.
The block was awarded to GOGL by MIGAS — Indonesia’s directorate of oil and gas resources — following a direct offer licence for a signature bonus of US$19 million (RM61.75 million) and a commitment to undertake five exploration wells and seismic works.
“In early 2007, GOGL undertook a joint study with the Institute Technology Bandung on the Kasuri Block. The results of this and other studies by GOGL have shown that there are many gas prospects and leads on the Kasuri Block and also some opportunities for oil,” said Genting.
“The Kasuri Block covers an area of 3,534 sq km onshore the Bomberai Peninsula in West Papua and is immediately adjacent to the offshore Tangguh Gasfields (with 14.4 trillion cubic feet of certified proven gas).
“The Tangguh LNG Plant, which is located to the north of Kasuri, will start selling this gas in liquefied form (LNG) in January 2009,” it added.
GOLC’s chief executive officer Ong Tiong Soon said GOGL was in a unique position to be able to safely, efficiently and rapidly explore the Kasuri Block.
“GOGL has not only worked in and studied the area for many years, but the company has all the resources necessary to be able to rapidly undertake an extensive exploration programme. The acquisition of the Kasuri block and its potential opportunities mark a major milestone for GOGL,” he added.
Genting’s oil and gas division has interests in three PSCs, which were signed with BPMIGAS — the Anambas PSC (100%), the Northwest Natuna (100%) and the West Salawati (49.99%).
In addition, the division holds deferred rights with BP Global to long-term cash flows from the Muturi PSC in West Papua, where from end-2008 or early 2009, the Tangguh liqudified natural gas plant will begin producing and selling gas from the Muturi PSC.
In China, the division operates an onshore-enhanced recovery oilfield under a petroleum contract with Sinopec. In Morocco, the division is undertaking survey studies at the Cap Juby Heavy Oil Discoveries in the Ras Juby offshore block.
Source
In a statement yesterday, Genting said its 95%-owned subsidiary Genting Oil & Gas Ltd (GOGL) via Genting Oil Kasuri Pte Ltd (GOKPL) signed the new PSC with BPMIGAS for the block.
The block was awarded to GOGL by MIGAS — Indonesia’s directorate of oil and gas resources — following a direct offer licence for a signature bonus of US$19 million (RM61.75 million) and a commitment to undertake five exploration wells and seismic works.
“In early 2007, GOGL undertook a joint study with the Institute Technology Bandung on the Kasuri Block. The results of this and other studies by GOGL have shown that there are many gas prospects and leads on the Kasuri Block and also some opportunities for oil,” said Genting.
“The Kasuri Block covers an area of 3,534 sq km onshore the Bomberai Peninsula in West Papua and is immediately adjacent to the offshore Tangguh Gasfields (with 14.4 trillion cubic feet of certified proven gas).
“The Tangguh LNG Plant, which is located to the north of Kasuri, will start selling this gas in liquefied form (LNG) in January 2009,” it added.
GOLC’s chief executive officer Ong Tiong Soon said GOGL was in a unique position to be able to safely, efficiently and rapidly explore the Kasuri Block.
“GOGL has not only worked in and studied the area for many years, but the company has all the resources necessary to be able to rapidly undertake an extensive exploration programme. The acquisition of the Kasuri block and its potential opportunities mark a major milestone for GOGL,” he added.
Genting’s oil and gas division has interests in three PSCs, which were signed with BPMIGAS — the Anambas PSC (100%), the Northwest Natuna (100%) and the West Salawati (49.99%).
In addition, the division holds deferred rights with BP Global to long-term cash flows from the Muturi PSC in West Papua, where from end-2008 or early 2009, the Tangguh liqudified natural gas plant will begin producing and selling gas from the Muturi PSC.
In China, the division operates an onshore-enhanced recovery oilfield under a petroleum contract with Sinopec. In Morocco, the division is undertaking survey studies at the Cap Juby Heavy Oil Discoveries in the Ras Juby offshore block.
Source
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