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Singapore Cruise Centre

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Arrival hall

Passport stamps from the cruiseship centre and ferry terminal.

The Singapore Cruise Centre (abbrev: SCC; Chinese: 新加坡邮轮中心) is a cruise terminal located in the south of Singapore in the vicinity of HarbourFront and in Keppel Harbour. Built in 1991 by the then Port of Singapore Authority and upgraded in 1998 by Port of Singapore Authority, it comprises two terminals, namely the International Passenger Terminal (IPT), and the Regional Ferry Terminal (RFT). The Singapore Cruise Centre Pte Ltd took over management of the centre on 1 April 2003 when PSA Corporation divested its non-core businesses.

Today, the centre handles a throughput of over 7 million cruise and ferry passengers a year, of which about 950,000 are cruise passengers.

[edit] Facilities

The RFT has six berths and caters to maritime traffic to the nearby destinations of Batam and the Karimun Islands of Indonesia, namely Tanjung Balai.

The IPT handles international cruise ships, and has two berths of 310 metres and 270 metres with a height limit of 52 metres. With a draft of 12 metres, it can handle most of the largest cruise ships in operation today. It underwent an upgrade in 2005 to improve on its passenger handling facilities.

[edit] Expansion

The existing terminals at HarbourFront were renovated in 2008 to optimize the use of available space. The entire level 2 is a restricted area, for the exclusive use of cruise and ferry passengers who have cleared immigration and security. Within this area, there are new and more exciting retail and F&B outlets. There are ample seats within this restricted area and features to please the five senses (i.e. calming water, music, greenery/landscape, cooler airflow etc) for greater passenger comfort. The re-configuration enabled a smoother processes and passengers have a more stress-free and seamless travel.

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21-Apr-2010 09:04

Chemoil Ene USD / CHEMOIL

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*JURONG ISLAND*

WORLD OIL

SUPERCENTER

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21-Apr-2010 09:01

Chemoil Ene USD / CHEMOIL

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GLENCORE DOUBLE

CHEMOIL CAPACITY

2010 ? ? ? ? ? ? ? ?

pharoah88 ( Date: 21-Apr-2010 08:56) Posted:

ALL CHINA OiL GAiNTS WiLL bE in JURONG ISLAND 2010 ???

CNOOC SINOPEC PETROCHINA WiLL acquire ChemOil 2010 ??

CNOOC WiLL bE in JURONG ISLAND 2010 ?

SINOPEC WiLL bE in JURONG ISLAND 2010

GLENCORE acquired ChemOil in 2009

PETROCHINA acquired SPC in 2009

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21-Apr-2010 08:58

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STAR DAYS 0003

Monday: 19 APRIL 2010

SUPERSTAR * BORN

OUTSOURCED SERVICES

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21-Apr-2010 08:56

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21-Apr-2010 08:33

Serial System / Serial worth invest ?

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SERIAL SYSTEM (10 c): 'Intrinsic value is 14 c'

Wednesday, 07 April 2010

Serial stock has climbed on a recovery in the tech sector.

Excerpts from SIAS Research’s initiation coverage of Serial System …..

The full report can be accessed at the Serial System thread in our forum.

SERIAL SYSTEM Ltd’s prospects look bright with major semiconductors and electronics companies raising their revenue forecasts. Serial is poised to ride on the expansion of these companies especially after it secured two new major distributorships last year – Texas Instruments in Taiwan and Tyco Electronics in Hong Kong, China and Taiwan.

Serial’s main edge is its large customer base and distribution network in China.

While the major distributors such as WPG Holdings continue to target the top tier customers, Serial’s hold over the 2nd and 3rd tier manufacturers offer value to its suppliers who want to ensure deep distribution of their products within China and yet will prefer to deal with orders of significant volume.

China is expected to continue growing at its breakneck pace going forward.

Growth estimates range from the government’s target of 8% to more than 10% in 2010.

As such, demand for electronic components and semiconductors will continue to be strong.

Derek Goh, executive chairman, CEO & founder, Serial System

Many major brands will want to build market share in China. This is where Serial (www.serialsystem.com.sg) comes in with its established network of manufacturers on the ground.

We believe that the key risk behind Serial is its lack of size and hence, limited economies of scale. Therefore, the slightest change in margins can materially affect the bottom line.

However, Serial has been paying out close to 50% of its profits as dividends each year. As such, loyal investors can participate in a significant share of profits in good years.

We have conservatively valued Serial at 10x FY10F EPS. Nonetheless, Serial should trade at multiples closer to its peers as its revenue base approaches them over time. Invest with an intrinsic value of S$0.140.

In line with its strategies to grow its revenue base, we forecast a 15% YoY growth in revenue to S$640m byFY10F and incorporate a 0.2 percentage point increase in gross margin to account for the expansion of the higher margin passive components product line.

Essentially, we project a PATMI of S$10.8m for FY10F and S$11.2m for FY11F, representing strong earnings growth of 44% and 21% respectively.

(Y/E Dec) S$’m	FY08	FY09	FY10F
Revenue	510.6	556.5	640.0
Operating profit	8.5	9.0	13.0
Net profit	6.0	7.5	10.8
EPS (S cts)	1.0	1.1	1.4

Source: SIAS Research

However, FY10F EPS will come in at 1.42 cents up only 28% over FY09. Serial currently has 100.5m warrants outstanding that will expire by 20 December 2010. Given the positive outlook of the company, we think that most of these warrants will be converted to shares, diluting EPS.

On a positive note, Serial’s shareholders will enjoy a nice dividend payout of 0.51 cents a share, representing a dividend yield of 5.4% over its last close of S$0.095.

This implies a payout ratio of close to 50%. Based on our forecast profits for FY10F and FY11F, we can expect annual dividends of 0.65 cents and 0.78 cents, or a yield of 6.5% and 7.8% respectively.

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21-Apr-2010 08:32

Serial System / Serial worth invest ?

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SERIAL SYSTEM: Fair value is 14 c, says NRA Capital

Written by Jacky Lee (NRA Capital)

Monday, 08 March 2010

Above expectations. 2H09 net profit of S$6.3 m came in 9% above our profit expectation of S$5.8m. The key variances were better-than-expected sales and lower-than-expected effective tax rate. However, this was slightly offset by lower-than-expected gross margins.

Sales jumped 30% yoy and 43% qoq in 2H09 due to
stronger demand for electronics products in Asian markets, especially China and Korea. Lower sales were experienced by Singapore, Thailand and Malaysia which relied heavily on export to the US and Europe where demand for electronic products were mostly affected by the economic crisis.

China accounted for 57% of the group’s total sales for FY2009 and the group now operates 23 sales offices in key cities of China.

SERIAL SYSTEM
Market cap	S$57.9 m
52-week high/low	5/8 cents
Average vol (1 year)	381,951
Shares outstanding	724.11 m
Free float	314.9 m

Gross margins slipped by 0.9% pts to 8.5% in 2H09 reflecting the highly competitive nature of the electronics industry coupled with the negative effects of the financial and economic crisis.

Including the S$0.9 m forex loss and lower effective tax rate, pretax and net profits jumped 82% and 118% yoy respectively.

Net gearing remained comfortable. Serial System generated S$6.6 m of negative free cash flow in 2H09 due mainly to higher working capital requirement by its Hong Kong and Korean subsidiaries to finance increased volume of businesses.

Its net gearing increased from 16% as at end-June to 27%. However, cash conversion cycle was shortened by 11 days yoy to 53 days. As expected, the board declared a dividend of 0.38 cts as compared to 0.25 cts in previous years.

Source: NRA Capital.

A largest distributor for Texas Instrument (TI) in China and Korea now after acquiring the distribution rights for certain electronic components manufactured by Texas Instruments in China and Taiwan in May-09. Management also pointed the shortage for TI’s product in 4Q09 affected its business late last year till early this year.

However, the supply is stabilising now. We see this as a good sign for electronic component distributors as pricing will be less volatile. We also believe demand for electronic components will continue to be driven from Asia. Nevertheless, recovery from the USA and Europe market will be a bonus.

Raised forecast and maintain Buy. We have raised our FY10-11 forecast by 21% and 33% respectively. We have also introduced FY12 forecast. As such, our fair value has risen from S$0.11 to S$0.14FY10 PER. We maintain our buy recommendation.

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21-Apr-2010 08:29

Serial System / Serial worth invest ?

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TOP SMALL-CAP PICKS by CIMB-GK

TOP SMALL-CAP PICKS by CIMB-GK

Written by The NextInsight Team

Tuesday, 16 March 2010

CIMB-GK yesterday produced its inaugural issue of Small Cap Monitor, a 27-page report highlighting is small-cap picks. We reproduce parts of the report, including the two tables here.

Source: CIMB-GK, Mar 15

Some of the risks in investing in small caps are :1) lack of liquidity, 2) lack of news coverage and broker coverage, 3) little price moving corporate developments, 4) potentially lower requirements for stock listing. Lack of healthy liquidity could expose the share price to wide bid/ask spreads.

Edwin Goh, CFO, China Animal Healthcare.

The key attraction in small cap investing is the opportunity to get in on the ground floor of the next Microsoft. Small caps typically exhibit strong growth given their smaller profit base.

For example, in the US, Wal-Mart itself started as a small cap stock before becoming the world’s biggest retailer. However, given its current size, for Wal-Mart to double its sales/profit would be no mean feat.

Small caps are often under recognised as they typically garner little to no attention from the broking community. Due to the lack of media/broker attention, there is a good chance that small cap stocks are not efficiently priced, creating profit opportunities.

	Potential catalysts
Cheung Woh	(1) Up coming results in April that could surprise on the upside (2) Potential exercise to improve liquidity, eg. Bonus, rights issue
China Animal Healthcare	(1) Further M&A to fast track vaccine products (2) Potential dual-listing play
China Eratat	(1) Below book valuation (2) Margin expansion if brand building efforts are successful
China Essence	(1) Earnings delivery (2) Recovery in ASPs for key products
China Flexible Packaging	(1) Below book valuation (2) Proxy to growing domestic consumption in China
China Kunda	(1) room to scale up revenue if new joint venture for auto parts is successful (2) Beneficiary of rising auto sales in China as exposure to domestic car makes increases
China Sunsine	(1) Below book valuation (2) Capacity expansion and new higher margin product
Etika	1) Commencement of operation of new Vietnamese plant in 2Q10 (amounts to about 15%of current group's capacity) (2) Declaration of dividends
First REIT	(1) Acquisitions could be possible this year. Debt financing is more likely than equity financing, which would result in higher accretion (2) Trading below book at 0.8x P/BV
Hengyang Petrochemicals	1) Doubling of its capacity with the completion of Deqiao Phase 1 expansion in April 10 will lift revenue materially in late 2010 to 2011 (2) Measures to improve trading liquidity
Hiap Tong	(1) Potential project awards in overseas markets (2) Upside risk to earnings forecast
Hisaka	1) Better-than-expected earnings from the semiconductor industry (2) Cooperation opportunities between Hisaka and Concord Corporation
Japan Foods	1) Opening of new restaurants (2) Attractive dividend yield
Mencast	(1) Strong growth potential with new Waterfront project (2) Only Company in this part of Asia certified to service and build stern gears.
Serial System	(1) Industry is clearly recovering, driving earnings growth at Serial System. (2) Attractive dividend yields, below book.
Technics Oil & Gas	(1) Accelerated order wins (2) Room for margin expansion with yard enhancement
UMS	(1) Strong industry recovery leading to turnaround at UMS. (2) Below NTA, good dividend yield, Company could consider measures to improve liquidity. Bonus issue makes most sense given no need to raise capital.
Willas Array	(1) Below book valuation (2) Attractive dividend yields
Ziwo	(1) Further order wins for its bullet-proof vest material (2) Upside risk to earnings forecast

Source: CIMB-GK

TOP SMALL-CAP PICKS by CIMB-GK

Written by The NextInsight Team

Tuesday, 16 March 2010

CIMB-GK yesterday produced its inaugural issue of Small Cap Monitor, a 27-page report highlighting is small-cap picks. We reproduce parts of the report, including the two tables here.

Source: CIMB-GK, Mar 15

Edwin Goh, CFO, China Animal Healthcare.

	Potential catalysts
Cheung Woh	(1) Up coming results in April that could surprise on the upside (2) Potential exercise to improve liquidity, eg. Bonus, rights issue
China Animal Healthcare	(1) Further M&A to fast track vaccine products (2) Potential dual-listing play
China Eratat	(1) Below book valuation (2) Margin expansion if brand building efforts are successful
China Essence	(1) Earnings delivery (2) Recovery in ASPs for key products
China Flexible Packaging	(1) Below book valuation (2) Proxy to growing domestic consumption in China
China Kunda	(1) room to scale up revenue if new joint venture for auto parts is successful (2) Beneficiary of rising auto sales in China as exposure to domestic car makes increases
China Sunsine	(1) Below book valuation (2) Capacity expansion and new higher margin product
Etika	1) Commencement of operation of new Vietnamese plant in 2Q10 (amounts to about 15%of current group's capacity) (2) Declaration of dividends
First REIT	(1) Acquisitions could be possible this year. Debt financing is more likely than equity financing, which would result in higher accretion (2) Trading below book at 0.8x P/BV
Hengyang Petrochemicals	1) Doubling of its capacity with the completion of Deqiao Phase 1 expansion in April 10 will lift revenue materially in late 2010 to 2011 (2) Measures to improve trading liquidity
Hiap Tong	(1) Potential project awards in overseas markets (2) Upside risk to earnings forecast
Hisaka	1) Better-than-expected earnings from the semiconductor industry (2) Cooperation opportunities between Hisaka and Concord Corporation
Japan Foods	1) Opening of new restaurants (2) Attractive dividend yield
Mencast	(1) Strong growth potential with new Waterfront project (2) Only Company in this part of Asia certified to service and build stern gears.
Serial System	(1) Industry is clearly recovering, driving earnings growth at Serial System. (2) Attractive dividend yields, below book.
Technics Oil & Gas	(1) Accelerated order wins (2) Room for margin expansion with yard enhancement
UMS	(1) Strong industry recovery leading to turnaround at UMS. (2) Below NTA, good dividend yield, Company could consider measures to improve liquidity. Bonus issue makes most sense given no need to raise capital.
Willas Array	(1) Below book valuation (2) Attractive dividend yields
Ziwo	(1) Further order wins for its bullet-proof vest material (2) Upside risk to earnings forecast

Source: CIMB-GK

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21-Apr-2010 08:21

Serial System / Serial worth invest ?

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RIDING ON A strong recovery in the semiconductor industry, Serial System yesterday said it achieved 1Q net profit of $2.9 million, up 314% from $0.7 million in 1Q 09.

The company is not required to report quarterly figures as its market capitalization is below $100 million, but it voluntarily did so yesterday for its 1Q results to keep investors abreast of its performance.

If annualized, the $2.9 million translates into $11.6 million net profit – which would be a record for the company.

That would also be a 55% jump from last year’s $7.5 million profit.

Asked if the 1Q performance could be representative of that for the rest of the year, Dr Derek Goh, chairman and CEO of Serial System, told investors at a presentation at CIMB-GK Investment Centre yesterday:

Derek Goh speaking with investors after his presentation. Photo by Sim Kih.

“We can at least maintain at that level, barring any unforseen circumstances. Normally, in our history, the first quarter is usually a slow one compared to the rest of the year because of the Chinese New Year holidays. In China, we get no sales for about 10 days. In Taiwan, it’s 7 to 10 days.”

These two countries are major sources of revenue, accounting for 57% of Serial System’s revenue last year.

If Serial System achieves the $11.6 million profit figure derived from annualizing its 1Q result, then it would have beaten the forecasts of two of the three analysts who cover the stock.

Earlier, after the release of Serial’s FY09 results in February, these analysts had forecasted the following for Serial’s 2010 full-year profit:

Serial's 1Q revenue has jumped 81% year-on-year.

* William Tng (CIMB-GK): $11.9 million;
* SIAS Research: $10.8 million;
* Jacky Lee (NRA Capital): $10.0 million.

Their target prices for Serial's share price (closed yesterday at 10 cents) were 16 cents, 14 cents and 14 cents, respectively.

As for its revenue, Serial’s 1Q figure was $182.4 million.

If annualised, the full-year figure would be $729.6 million, exceeding also the analysts’ forecasts – all of whom cited $640.0 million.

Serial distributes a wide range of components to a number of industries which are riding on a boom, including:

* Consumer electronics: Components that Serial distributes are used in devices such as washing machines, TV sets, DVD recorders, MP3 players and wireless headsets.

* Automotive: Serial’s distributed components are used in gadgets such as portable navigation systems, car access systems (RFID) and in-car infotainment systems.

Serial System's powerpoint presentation which was uploaded to the SGX website yesterday can be downloaded here.

Recent stories:

CIMB-GK ranks Serial System as its top small-cap pick

SERIAL SYSTEM: Fair value is 14 c, says NRA Capital

SERIAL SYSTEM (10 c): 'Intrinsic value is 14 c'

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21-Apr-2010 08:18

Serial System / Serial worth invest ?

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*** Serial System was rated No.1 in upside potential (100% from 8 cents to 16 cents) among small caps covered by CIMB-GK in a report on Mar 15.

*** Serial System is forecast to achieve the following % jump in net profit this year:

a) 33% by NRA Capital (ie from $7.5 m last year to $10.0 m this year);

b) 44% by SIAS Research (ie to $10.8 million);

c) 59% by CIMB-GK (ie to $11.9 million).

Non-shareholders who wish to attend are requested to email their full name, IC number and telephone number to facilitate Serial's catering of food and drinks.

Seats are limited. Please email as soon as possible to: irene.goh@serialsystem.com

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20-Apr-2010 18:30

Baker Technology / It's time to rebound ????

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BakerTech

Symbol:
568

Currency:
Singapore Dollar

Last:

0.49

-0.015

Vol (K): 28300.0

Corporate Action - Cum Dividend

Trading
Updated Time	20-Apr 17:05
Open	0.51	High	0.51	Low	0.465
Prev Close	0.505	Buy	-	Sell	-
Volume(K)	28300.0	Buy Vol(K)	-	Sell Vol(K)	-
52 Wk High	0.505	52 Wk Low	0.135	52 Wk Avg Vol	4840.854
All Time High	6.3	All Time Low	0.02
Comments	Near 52 wk high

*Reporting Currency in SGD
Important: ShareJunction obtains our finance data from a third party. Check financial year before use. EPS values are recorded up to two decimal points.

Financials
Date Updated	31-Mar-2010	Financial Year	31-Dec-2009
Current Year Profit (After Tax) $'000,000	38.569	Previous Year Profit (After Tax) $'000,000	18.818
Net Asset Per Share	0.14	Turnover $'000,000	30.17
Current Year EPS (After Interest and Tax)	0.06	Previous Year EPS (After Interest and Tax)	0.03
PE Ratio (After Tax)	5.5	Times Covered	2.6
Price (at update time)	0.33	Dividend Yield	0.07

*Technical Analysis Information is updated Daily

Technicals
RSI	95.9	Williams %R	-7.69
Comments (RSI)	Overbought	Comments (W%R)	Overbought

Intraday Chart

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20-Apr-2010 18:29

Baker Technology / It's time to rebound ????

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20 April, 2010 - Tuesday

Yangzijiang Shipbuilding Holdings Ltd, a shipbuilder based in China, on Saturday said that it, along with two other investors, have launched a US$155-million joint tender offer to buy Singapore-based PPL Holdings Pte Ltd, a wholly-owned subsidiary of Baker Technology Ltd, sources reported.

The Chinese shipbuilder said in a statement that it intends to acquire a 50.1% stake in PPL Holdings, while an unnamed investment firm from the Middle East and Yu Kebing, a non-executive director of Yangzijiang Shipbuilding, plan to take the remaining 45% and 4.9% stakes, respectively.

To finance the acquisition, Yangzijiang Shipbuilder will issue 83.60 million shares to the Middle East-based investment firm to raise US$77.70 million, according to the statement.

PPL Holdings owns a 15% stake in PPL Shipyard Pte Ltd, while SembCorp Marine Ltd holds the remaining 85% stake.

The acquisition is expected to help Yangzijiang Shipbuilding strengthen its capability in offshore drilling design and operations and boost its business development and competitive strategy, said the firm.

Located in Jiangyin, Jiangsu Province, Yangzijiang Shipbuilding produces a range of commercial vessels, container ships, bulk carriers and multipurpose cargo vessels.

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20-Apr-2010 18:23

Baker Technology / It's time to rebound ????

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20-Apr-2010 18:17

Baker Technology / It's time to rebound ????

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Tuesday: 20 APRIL 2010 CLOSING

S$0.490 -S$0.015

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20-Apr-2010 18:14

PSL / A yet to discover GEM

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Panasonic Singapore Laboratories Pte Ltd (PSL)

PSL is the Corporate R&D arm of Panasonic Corporation (Panasonic), located in the Asia Pacific Region.

At PSL, we conduct R&D activities in cutting edge technologies for the next generation of products.

Our R&D areas include Advance Video and Audio Coding algorithms, Network & Wireless technologies, System LSI development, and Mobile Communications area.

Panasonic Singapore Laboratories Pte Ltd (PSL)

PSL is the Corporate R&D arm of Panasonic Corporation (Panasonic), located in the Asia Pacific Region.

At PSL, we conduct R&D activities in cutting edge technologies for the next generation of products.

Our R&D areas include Advance Video and Audio Coding algorithms, Network & Wireless technologies, System LSI development, and Mobile Communications area.

building

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20-Apr-2010 18:07

S i2i / MediaRing

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Tuesday: 20 APRIL 2010 CLOSING

S$0.245 +S$0.005

tchoonw ( Date: 19-Apr-2010 14:47) Posted:

down current for MR is strong now! lookslike opportunity to buy dirt cheap is coming soon!

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20-Apr-2010 18:06

Keppel Land / Kepland

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Tuesday: 20 APRIL 2010 CLOSING

S$3.66 -S$0.07

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20-Apr-2010 18:04

Yanlord Land / Lord of China Prop

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Tuesday: 20 APRIL 2010 CLOSING

S$1.73 -S$0.01

Singapore LORD is affected by CHINA LORD

pharoah88 ( Date: 17-Apr-2010 22:42) Posted:

Friday: 16 APRIL 2010 CLOSING

S$1.810 -S$0.110

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20-Apr-2010 18:01

Chemoil Ene USD / CHEMOIL

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Tuesday: 20 APRIL 2010

Cherries Picking Day

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20-Apr-2010 17:59

Healthway Med / healthway, healthy?

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Can verify at AGM ?

Healthway also choose all the FUNNY venues.

EGM at The Pines

AGM at the NUS Guild House ?

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Singapore Cruise Centre

From Wikipedia, the free encyclopedia

[edit] Facilities

[edit] Expansion

Revenue

SERIAL SYSTEM

Market cap

52-week high/low

Shares outstanding

Potential catalysts

Cheung Woh

China Sunsine

Japan Foods

Ziwo

Potential catalysts

Cheung Woh

China Sunsine

Japan Foods

Ziwo