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07-Mar-2013 10:39

Mencast / Cornerstone investor GAY CHEE YONG in mencast

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Mencast Holdings is re-evaluating the basis for the proposed

(1) Bonus Share for every one (1) Share held as one of the

listing rule (Rule 838 of the SGX-ST Listing Manual) requires

the company to ensure that its daily weighted average price,

adjusted for a bonus issue, is not less than S$0.50.

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07-Mar-2013 09:35

Top Global / TopGlobal

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after launch, must see the 100% sold for it to be good news!

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06-Mar-2013 21:55

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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based on TA, near term ausgrp indicators are oversold and looks poised to cover gap @ 58-59.5

any break above 59.5 will show that the movement upward is sustainable..

gd luck dyodd VESTED!!!

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06-Mar-2013 10:50

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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Published March 06, 2013

Australia: Shares hit new 4-1/2 year highs on GDP data

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- PHOTO: REUTERS

SYDNEY - Australian shares climbed 1.1 per cent on Wednesday to fresh 4 1/2 year highs after a record close on Wall Street, with banks and miners leading the index as upbeat domestic data and signs of steady growth in China buoyed investor confidence.

Australia's economy grew a moderate 0.6 per cent last quarter, with gross domestic product just above expectations and still well ahead of most of the developed world.

" We've seen the market move up on the back of GDP data," said Chris Weston, chief market strategist at IG Markets.

" It now gets priced into the market that we're growing slightly better than what we had been anticipating."

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06-Mar-2013 09:47

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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10 million done in less than an hour..

superb volume..

gd luck dyodd

ozone2002 ( Date: 06-Mar-2013 09:27) Posted:

ausgrp up 4%..to 53c.. decent volume in the early morning trade..

looking gd..

gd luck dyodd

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06-Mar-2013 09:27

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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ausgrp up 4%..to 53c.. decent volume in the early morning trade..

looking gd..

gd luck dyodd

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06-Mar-2013 08:47

IPC Corp / Solid NTA 27c

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Jim Rogers Bullish on Japan Equities on Abe's Catalyst

Guru Jim Rogers bullish on Japan..

IPC exposure to Japan hotels..

opportunity to buy more on recent weakness

upside to come as Rogers suggest..

gd luck dyodd

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05-Mar-2013 16:33

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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saw DMG's report on this..

stating 25% correction unwarranted for this gem..

PE 7.1x still cheaper than the other auzzie svc stock listed in SG

time to relook at this baby again

gd luck dyodd..

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05-Mar-2013 10:52

Straits Times Index / STI to cross 3000 boosted by long-term investors

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The downdraft from China in reaction to details of the

property measures and weaker Feb PMI data ignited worries

that the country’s recovery is stalling, which spilled over the

rest of Asia, triggering selling across the board. STI fell 30pts

to 3239. Small caps were affected worse. STI’s decline was

within our technical view for it to consolidate towards 3207

resuming its major rising trend.

We maintain our view that STI’s decline yesterday is part-parcel

of a much needed short-term pullback to consolidate the gains

in recent months. Otherwise, the major rising trend stays is

intact that has the potential to head towards 3450 by end-

June. The McClellan Oscillator, an indicator for short-term

market breadth, fell to -53 yesterday, which is the lowest

reading in recent months and nearing the extreme oversold of

-70. A minor rebound is seen today. Post rebound, any further

subsequent downside should be limited at 3207, in line with

our earlier view.

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04-Mar-2013 22:18

Straits Times Index / STI to cross 3000 boosted by long-term investors

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20 more points to reach DBS target..so fast meh? gd luck dyodd

ozone2002 ( Date: 04-Mar-2013 11:17) Posted:

STI - Pullback to 3207 in weeks before resuming climb to

3455 by end-June (DBS)

The just concluded results season led to only modest change

to STI’s 14.13x (Ave) forward PE levels. Assuming STI continues

to stick around the Ave 12-mth forward PE line, it should head

for 3450 by end-June and 3600 by year-end. That’s an average

pace of 45pts/mth, much more gradual than the c.145pts/mth

momentum that lifted it from 2945 in mid-Nov last year to

3320 by 4th Feb. While STI’s major rising trend stays intact, we

think a short-term consolidation has likely started that can

resulted in a further dip to 3207 in coming weeks before the

rising trend continues.

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04-Mar-2013 11:17

Straits Times Index / STI to cross 3000 boosted by long-term investors

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STI - Pullback to 3207 in weeks before resuming climb to

3455 by end-June (DBS)

The just concluded results season led to only modest change

to STI’s 14.13x (Ave) forward PE levels. Assuming STI continues

to stick around the Ave 12-mth forward PE line, it should head

for 3450 by end-June and 3600 by year-end. That’s an average

pace of 45pts/mth, much more gradual than the c.145pts/mth

momentum that lifted it from 2945 in mid-Nov last year to

3320 by 4th Feb. While STI’s major rising trend stays intact, we

think a short-term consolidation has likely started that can

resulted in a further dip to 3207 in coming weeks before the

rising trend continues.

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04-Mar-2013 10:40

Straits Times Index / STI to cross 3000 boosted by long-term investors

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AS warned ... SG stocks now dropping like flies..

ozone2002 ( Date: 27-Feb-2013 11:06) Posted:

Time to take profit .. upside limited.. gd luck dyodd

STI fell to test the 3250 level yesterday. A minor technical

rebound is possible but capped at 3270-75. If 3250 fails

subsequently in the days ahead, a further decline closer to

3200 should provide better support. As we’d stated over the

last 1-2 weeks, while STI has the potential to reach 3600 by

year-end, the short-term trend has likely turned choppy from

the fast rally mode in recent months. Valuation has

approached fair and there has been no meaningful lift to

FY13/FY14 forward PE levels for the STI from the current

reporting season.

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04-Mar-2013 10:00

China Minzhong / China Minzhong Food forum

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China Minzhong (Maybank KE)
Will 29% Be The End?
GIC passed the baton to Indofood.
stake in China Minzhong last Friday through a marriage trade at a price
of SGD1.12. This confirms our view of two weeks ago that Indofood will
not be satisfied with only 15% control of Minzhong. We view this
transaction positively. Maintain BUY with target price unchanged at
SGD1.36, pegged to 5x PER.Indofood bought the entire GIC’s
Share overhang fades.
shares in China Minzhong in Dec 2012, there were still two big pre-IPO
investors, namely CMIA and GIC, holding an aggregate amount of
126m shares. The transaction drastically reduced this holding to only
32m shares for CMIA alone. Post the transaction, Indofood will hold
29% of China Minzhong, followed by Templeton (11%) and CMIA (5%).After Olympus Capital placed out its 57m
Wish for a more successful marriage this time around.
not the first time that the Salim Group (the parent company of Indofood)
acquires a Chinese company. It acquired six Chinese consumer goods
companies in 2004-2006. Some of those acquisitions turned out to be
unsuccessful. But this time around, Indofood adopted a more cautious
way in our view by acquiring only 29% of the target company in the first
step rather than taking over majority holdings. In addition, compared
with the previous acquisitions that we mentioned above, China
Minzhong is a much bigger company and we believe that Indofood’s
investment in Minzhong is also much bigger than its previous deals.
Thus we believe Indofood will treat it more seriously this time.In fact this is
Indofood’s eagerness to secure raw material supply.
increased its share holding from 15% to 29% only two weeks after the
placement, which shows its eagerness to secure raw material supply
from China Minzhong. The potential revenue which Indofood can bring
to Minzhong could be substantial.Indofood
29% control may still not be the end.
holding to 29%, we think it might still not be the end if Indofood wants to
have an absolute control. We maintain our BUY rating and target price
unchanged at SGD1.36.Although Indofood increased its
China Minzhong – Summary Earnings Table
FYE June (CNY m) FY2011 FY2012 FY2013F FY2014F FY2015F
Revenue 1929.2 2568.8 3344.0 3641.9 4068.8
EBITDA 769.6 904.0 1155.0 1269.7 1404.4
Recurring Net Profit 566.7 681.6 810.8 894.2 1031.8
Recurring Basic EPS (fen) 86.5 103.7 123.1 135.5 156.2
EPS Growth (%) 29.1 19.9 18.7 10.1 15.3
PER (x) 5.90 4.92 4.14 3.76 3.27
EV/EBITDA (x) 4.56 4.31 2.92 2.41 1.62
P/BV (x) 1.15 1.14 0.81 0.58 0.49
Net gearing 5.7% 15.3% 0.7% -4.9% -15.8%
ROE (%) 21.8% 21.0% 19.2% 16.9% 16.5%
ROA (%) 16.7% 14.9% 14.4% 13.9% 13.8%
Consensus Net Profit (CNY m) n.a n.a 758.6 822.2 1007.0

Source: Company, Maybank KE estimates

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01-Mar-2013 17:24

China Minzhong / China Minzhong Food forum

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China Minzhong: GIC Fully Divested Equity Stake.

01 Mar 2013 16:07 China Minzhong Food Corporation Limited has been informed by its substantial shareholder, Tetrad Ventures Pte Ltd that it has on 28 February 2013 fully divested its equity stake in the Company. Tetrad Ventures Pte Ltd is wholly owned by Government of Singapore Investment Corporation (Ventures) Pte. Ltd. GIC Special Investments Pte. Ltd. manages the investments of Tetrad Ventures Pte Ltd, and is wholly owned by Government of Singapore Investment Corporation Pte Ltd...

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01-Mar-2013 16:30

China Minzhong / China Minzhong Food forum

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PANIC @ THE DISCO? Tetrad Ventures aka GIC

Government of Singapore Investment Corporation | Sovereign ...

www.swfinstitute.org/.../government-of-singapore-investment-corpor...Cached - Similar

Tetrad Ventures Pte Ltd. is a corporation organized under the laws of Singapore and a 100% owned subsidiary of The Government of Singapore Investment ...

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01-Mar-2013 16:18

China Minzhong / China Minzhong Food forum

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GIC sold stake in CMZ..

they made fat profits since buying CMZ @ 50+c

signal to take profit

gd luck dyodd

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01-Mar-2013 11:51

Yoma Strategic / Yoma

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Yoma gets shareholders' nod for Meeyahta acquisition

Lee Meixian

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The seller, Yoma executive chairman Serge Pun's privately held Serge Pun & Associates (SPA Group), will retain the remaining 20 per cent in Meeyahta - PHOTO : SPH

Yoma Strategic Holdings' shareholders yesterday voted in favour of the property developer's proposal to buy 80 per cent of Meeyahta International Hotel Ltd (MIHL) in accordance with the conditions in the sale and purchase agreement.

The seller, Yoma executive chairman Serge Pun's privately held Serge Pun & Associates (SPA Group), will retain the remaining 20 per cent in Meeyahta.

At its extraordinary general meeting, shareholders holding 234.7 million or 99.28 per cent of Yoma's shares voted for the resolution to be passed.

Majority (99.28 per cent) also voted for the waiver of their right to receive a mandatory general offer from Mr Pun and his concert parties for the company shares, following the proposed rights issue of one rights share for every four shares held, meant to fund the acquisition.

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01-Mar-2013 11:08

Yoma Strategic / Yoma

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Yoma Strategic Holdings is acquiring a 70% stake in

German Car Industries Company (GCI) for US$700,000.

GCI is an established premier service centre for European

vehicles in Yangon that was established in 1996. We are

positive on this acquisition because it is a good spring

board for Yoma's entry into the car servicing/distributing

industry in Myanmar, especially the luxury segment. GCI is

profitable with an average PBT margin of 25%. This

acquisition would enable Yoma to gain a foothold in the

niche market of servicing European brands and would

complement its involvement in Japanese autos. Yoma

intends to seek one or two more distributorships in time,

Financially, we believe contributions could start in FY14.

Separately, the group is exploring the possibilities of

acquiring another 12-acres (522k sq ft) site at the fringe

of Yangon City Centre from SPA group under the first

right of refusal deed (FRRD). This proposed acquisition site

is located next to FMI City which is currently more than

95% sold.

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01-Mar-2013 11:06

Nam Cheong / Nam Cheong

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Nam Cheong..tiam tiam Cheong.. gd luck dyodd

Nam Cheong has entered into US$130m worth of

contracts with Bumi Armada. The orders are for four

MPSVs including option to build four additional units. The

contracts represent one of the largest collective wins in

Nam Cheong’s corporate history, and are expected to

contribute positively to FY2013 – FY2015 earnings. Nam

Cheong’s order book is now RM1.3 bn.

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01-Mar-2013 10:09

SoundGlobal / Sound Global Ltd (formerly: Epure)

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cheap cheap cheap cheap...cheap must buy la..
gd luck dyodd
Cheapest water play (DBS)
• 4Q12 results were below expectations
•
supports growthBut record high orderbook provides visibility and
• Maintain BUY, TP S$0.89
Highlights
4Q12 hurt by slower sales and higher interest costs.
Rmb82.4m (-23% y-o-y, -46% q-o-q) and sales of Rmb689.5m (15%y-o-y,-
11% q-o-q) were 44% and 19% below our forecast. All segments
underperformed with the biggest shortfall coming from the Product segment.
Apart from lower sales, finance costs skyrocketed to Rmb173m from
Rmb108m mainly due to interest expense for the US$ senior notes. Taxes
were also higher at 21% vs our assumed rate of 13%. FY gross margins
however, were stable at 30%.
Maintained net cash position but scrapped dividend. SGL exited 2012 with
Rmb1.6b, mostly due to proceeds from the senior notes. However,
management did not declare any dividend.Net profit of
Our View
Rmb3.5b orderbook will support growth, O& M is a potential
outperformer
~Rmb3.5b, anchored by rural sewage development projects and
Phase 1 of the Rmb2b water supply project in Changchun. We
believe 70% of this orderbook can be completed this year. The
Product segment could flat-line due to limited capacity but O& M is a
bright spot for potential upsides as management expects all 20+
water subsidiaries to start operation by end 2013.. We estimate that SGL year-end orderbook would be
New win momentum still robust
vs our Rmb1.7b forecast. This year, new wins should continue but
big contracts such as the Changchun BT project are not common.
Hence, we maintain FY13 new wins at Rmb1500m. We understand
SGL is tracking as much as Rmb2b of BOT contracts.. SGL secured Rmb2.5b in 2012
Recommendation
Earnings cut but no big impact on TP
FY13/14F by 10%/17% EPS to factor in higher interest costs and
muted Product sales. However, the impact on TP is offset by lower
share count following CB redemption. Our TP of S$0.89 is pegged to
a historical mean of 14x PE.
Maintain BUY for > 30% upside to our TP of S$0.89. Depending on
market sentiment and SGL’s execution, there is scope for the stock

to re-rate closer to the industry average of 16x 1 year forward PE.. We have lowered

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