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Press Release
Aztech Witnesses Continuous Growth in
ADSL2/2+ Broadband Modem
·
Estimated orders of 3.5 million units valued at US$50 million·
SINGAPORE, 25
growth of its ADSL2/2+ broadband modem product sector. During its half-year results
announcement in July this year, the Group reported that there was continual strong demand for
its ADSL2/2+ broadband modems and expects to hit record number this year.
The Group is now pleased to announce that to-date, it has received firm orders for 1.5 million
units of ADSL2/2+ broadband modems under a contract win to a key customer in North
America, to be delivered by end of the year. The Group further projected additional orders of 2
million units for FY2008. The entire contract is valued at approximately US$50 million.
Asymmetric Digital Subscriber Line (?ADSL?) is a commonly used data communications
technology that tranmits Internet data over copper telephone lines faster than a conventional
56k analog modem. In the first quarter of 2007, the worldwide broadband lines totaled 298
million, of which ADSL dominated the sector with 197million subscribers. The United States has
the biggest number of ADSL lines, with 60.4 million subscribers to date while increasing
approximately 2.9 million lines over each quarter. Other top ADSL countries include China,
Germany, UK, France, Japan and Korea.
Aztech CEO and Chairman, Michael Mun comments, ?With our 10 years of experience in
broadband equipment coupled with well-established manufacturing capabilities, we will continue
to tap on the expanding ADSL2/2+ broadband usage in homes and offices. Today, we also see
strong broadband penetration to more developing countries. Some of the markets we are
focusing on are Eastern Europe, South America, South East Asia and Middle East where we
see potential increment in number of ADSL subscribers.?
The winning of this contract solidifies Aztech?s long-running, successful business track record as
a leading ADSL2/2+ broadband equipment manufacturer and supplier. Fully designed in-house,
the modem denotes Aztech?s ability to comply with the stringent requirements of the client.
Providing design excellence with high quality in the product, Aztech is committed to achieving
fast turnaround time and optimizing its client?s operations.
?In line with the Group?s on-going forward looking strategy, Aztech is also developing new
products specifically targeted at next generation of broadband ? VDSL (Very High Speed DSL
line) and FTTH (Fiber-To-The-Home) technologies
broadband development is to meet the increasing popularity and demand for value-added
services such as Internet Protocol (IP) TV, Voice over IP (VoIP), video conferencing and
High Definition (HD) TV ? added Michael Mun.
trade with care!!
Press Release
Aztech Witnesses Continuous Growth in
ADSL2/2+ Broadband Modem
·
Estimated orders of 3.5 million units valued at US$50 million·
SINGAPORE, 25
growth of its ADSL2/2+ broadband modem product sector. During its half-year results
announcement in July this year, the Group reported that there was continual strong demand for
its ADSL2/2+ broadband modems and expects to hit record number this year.
The Group is now pleased to announce that to-date, it has received firm orders for 1.5 million
units of ADSL2/2+ broadband modems under a contract win to a key customer in North
America, to be delivered by end of the year. The Group further projected additional orders of 2
million units for FY2008. The entire contract is valued at approximately US$50 million.
Asymmetric Digital Subscriber Line (?ADSL?) is a commonly used data communications
technology that tranmits Internet data over copper telephone lines faster than a conventional
56k analog modem. In the first quarter of 2007, the worldwide broadband lines totaled 298
million, of which ADSL dominated the sector with 197million subscribers. The United States has
the biggest number of ADSL lines, with 60.4 million subscribers to date while increasing
approximately 2.9 million lines over each quarter. Other top ADSL countries include China,
Germany, UK, France, Japan and Korea.
Aztech CEO and Chairman, Michael Mun comments, ?With our 10 years of experience in
broadband equipment coupled with well-established manufacturing capabilities, we will continue
to tap on the expanding ADSL2/2+ broadband usage in homes and offices. Today, we also see
strong broadband penetration to more developing countries. Some of the markets we are
focusing on are Eastern Europe, South America, South East Asia and Middle East where we
see potential increment in number of ADSL subscribers.?
The winning of this contract solidifies Aztech?s long-running, successful business track record as
a leading ADSL2/2+ broadband equipment manufacturer and supplier. Fully designed in-house,
the modem denotes Aztech?s ability to comply with the stringent requirements of the client.
Providing design excellence with high quality in the product, Aztech is committed to achieving
fast turnaround time and optimizing its client?s operations.
?In line with the Group?s on-going forward looking strategy, Aztech is also developing new
products specifically targeted at next generation of broadband ? VDSL (Very High Speed DSL
line) and FTTH (Fiber-To-The-Home) technologies
broadband development is to meet the increasing popularity and demand for value-added
services such as Internet Protocol (IP) TV, Voice over IP (VoIP), video conferencing and
High Definition (HD) TV ? added Michael Mun.
dbs downgraded tp from 94 to 50http://www.remisiers.org/research//az250907dbs.pdf
Lesson learned: When price dropped, surely there was reason behind.
lol yea that's life.. so i hurried and vest myself at this "bargain" price.. whether its a bargain or not only time will tell.
hope it's a good decision :)
Haha that's life.... got lots of ups and downs.
Looks like short term wise, most signs are pointing downwards. While the company is doing buybacks, still pays to be a bit more cautious.
lol.. where have all the optimism gone??
wa fierce, 40 cents liao,
think people who short also moved in already
trade with extreme care...good luck
fyi, recv'd fm DBS -
Aztech Systems; HOLD S$0.43 (Downgrade from BUY) Price Target : 12-Month S$ 0.50 (Prev S$ 0.94)
Aztech?s earnings prospects are not as exciting as previously expected. There are three key changes : (1)
Change in the product mix due to a major slowdown from a key customer (2) Delay in the launch of new
products (3) Higher operating costs from inflation in China. On the positive side, the company is running at
full capacity. ADSL modems and Homeplug adapters continue to be the main drivers. Overall, we have
lowered our FY07 and FY08 earnings estimates by 29% and 33% respectively. Our revised one-year target
price of S$0.50 (prev. S$0.94) is based on 10x average earnings of FY07 and FY08. Based on limited upside,
we are downgrading Aztech to HOLD
Fyi, DBS has reduced TP from 0.95 to 0.5
Think it will continue to trade at current level or lower
Major Support at 0.42 is broken,
TA wise i would short it. but then, there is some ppl holding this counter so i shall say hope i will be wrong.
To add on to the post earlier (had some formatting issues with the buy/sell queue), as expected, hidden buyers came out suddenly at the 41c mark.
Do note however due diligence is still required to find out why there was a chain of selldown at the 41.5c mark (note the 350 lots sold down - institutional trading?). Not quite the time to go into this counter yet unless one is willing to take some risk and hold this for some time, or until we see a stronger turnaround.
Not vested.
|
15:32:18 |
0.410 |
24,000 |
Buy Up |
| 15:31:57 | 0.410 | 5,000 | Buy Up |
| 15:31:52 | 0.410 | 20,000 | Buy Up |
| 15:30:56 | 0.410 | 100,000 | Buy Up |
| 15:30:45 | 0.410 | 10,000 | Buy Up |
| 15:29:40 | 0.410 | 10,000 | Buy Up |
| 15:29:37 | 0.405 | 10,000 | Sell Down |
| 15:28:35 | 0.410 | 20,000 | Buy Up |
| 15:28:20 | 0.410 | 20,000 | Buy Up |
| 15:28:16 | 0.410 | 23,000 | Sell Down |
| 15:28:11 | 0.410 | 80,000 | Buy Up |
| 15:27:57 | 0.410 | 50,000 | Buy Up |
| 15:27:41 | 0.410 | 7,000 | Sell Down |
| 15:27:35 | 0.410 | 93,000 | Buy Up |
| 15:27:27 | 0.410 | 5,000 | Buy Up |
| 15:27:23 | 0.410 | 10,000 | Buy Up |
| 15:26:44 | 0.410 | 350,000 | Sell Down |
| 15:21:21 | 0.415 | 139,000 | Sell Down |
| 15:21:19 | 0.415 | 30,000 | Sell Down |
| 15:21:01 | 0.415 | 60,000 | Sell Down |
| 15:20:53 | 0.415 | 20,000 | Sell Down |
| 15:18:24 | 0.415 | 3,000 | Sell Down |
| 15:11:14 | 0.420 | 50,000 | Buy Up |
| 15:10:48 | 0.420 | 47,000 | Sell Down |
| 15:10:43 | 0.420 | 150,000 | Sell Down |
| 15:10:11 | 0.420 | 100,000 | Sell Down |
| 15:05:49 | 0.425 | 69,000 | Sell Down |
| 15:05:07 | 0.425 | 85,000 | Sell Down |
Dear Shplayer,
I am the one who alerted Admin to Maniam's post. I fully agree with Cashiertan, Singaporegal and Manikamaniko's comments/views about you. I am sure many other forumers are also grateful for the useful research/posts done by you :)
Manikammaiko,
I think that post by 'Maniam' has been removed by SJ Admin......but not on my request.
I rest my case about AZ and AZ warr.......based on yesterday's closing, (AZ 43 ct; AZ War 13 ct), AZ War is at 49% premium to AZ vs Fri clsing premium of 43%.
By the way, Shplayer...
Where is that post (which date) by that "maniam" you mentioned earlier? I couldn't find any post in that name in this thread... 
I agree with Singaporegal about Shplayer... :)
It is quite obvious that his posts are done in good faith and they are the result of his seriousness and diligence.
And although I am a purely technical trader (ie. I ignore all sorts of fundamentals) I can't help giving him my moral support on account of his sincerity... 
Agreed with Ryantka. One may refer to the SGX announcement dtd 20 Sep 07 on the share offloading by Credit Agricole.
Another point of interest is on the key support level that Aztech is very unlikely to go below (41.5c). Clue - always check what the company insiders do, especially since 2004. Heheheh.
Aztech is a fundamentally very sound company.
One reason might explain the jittery this few days.
The price movement recently was probably initiated by the selling of shares by
Credit Agricole Asset Management S.A. on 19th September.
Do note that they did not release the stocks completely but only about 9% of their total holdings on the company which is about 0.49 % of Aztech shareholdings.
Financial Institutions have a wide scope of strategy that retail investors can;t fathom. Therefore we wont really know their reason for selling. One thing for sure is that its definitely not due to any problems with Aztech as the release is only 9%.
Although they did not really release alot in terms of percentage, a sudden selling of 2091 lots is enough to scare most speculators into releasing their shares too. ( There was a total of 6109 lots transacted that day.
We should view this rationally and take the opportunity to accumulate.
For example, during a sales, we will buy the item knowing its worth more than the selling price.
Of course this is one explanation suggested based on reason.
There might be insider tradings that we are not aware of but it is a less likely assumption.