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Daily Bulletin – 16/01/09
Daily Bulletin | 16 January 2009
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By:

Wall St Jitters On Bank Fears
An apparently minimal movement by the close of the market belied what was another wild session on Wall Street on Thursday as several banking stocks slid to fresh multi-year lows. The S&P 500 finished 0.1% higher at 843.73, having earlier slid as much as 3%. The Dow was up 0.2% at 8,212.49 while the Nasdaq was 1.5% stronger at 1,511.84.

OKP Wins $15.4m PUB Contract
OKP Holdings has clinched a $15.4m contract from the Public Utilities Board for drainage improvement works at the Opera and East View Garden Estates. Work will start from January 2009 and is expected to be completed by January 2011.

Allgreen Properties and Shangri-La Asia Ditch Joint Development Plan For Tangshan Sites
Allgreen Properties and Shangri-La Asia, together with two other joint partners, have inked a cancellation agreement with relevant government authorities in PRC for the withdrawal of the land bid confirmation for the three sites situated in Tangshan City, Hebei Province, PRC to be acquired and shall be required to pay the penalty of Rmb21m. The penalty could be paid from the joint refundable deposit of Rmb700m that is being kept with the relevant authorities.

Youcan Scores With Product Launch In Hangzhou
Youcan Foods International has received Rmb70m of ice-cream orders during a product launch in Hangzhou, PRC, bettering its own results during the previous year’s launch by more than three times.

Sunshine To Seek Compensation Through Arbitration Proceedings; Acquires Beijing Feng Bao Heng For Rmb10.5m
Sunshine Holdings has initiated arbitration proceedings in relation to its Zhengzhou Eastern District Project and Luoyang Meter Plant Project to seek compensation worth up to Rmb269m, as a result of failures on counterparties to fulfill certain agreement obligations. Meanwhile, the company has acquired a 63% equity interest in Beijing Feng Bao Heng Investment, which is principally engaged in the subleasing and management of commercial properties and serviced apartments for Rmb10.5m.

A-REIT Launches Equity Fund Raising To Raise $400m
A-REIT has issued a private placement offer and a one-for-fifteen preferential offering, of up to 353.9m new units in total to raise gross proceeds of approximately $400m. The new units are priced at between $1.13 and $1.16 per unit for both offers.

Micro-Mechanics Issues Profit Update
Micro-Mechanics (Holdings) expects to report a decline in both 2Q09 revenue and net profit ended 31 December 2008 due to slowdown in business volume and lower sales.

Inno-Pacific Issues Profit Guidance
Inno-Pacific Holdings expects to incur a loss for its FY08 results ended 31 December 2008 as a result of lower profit margin and impairment to marketable securities held by the company.

Gates Electronics Issues Profit Guidance
Gates Electronics expects to incur a loss in its 1H09 results ended 31 December 2008, due to provision for doubtful debt and decline in sales as a result of the weak electronics industry and global economic slowdown.

SGX 1H09 Profit 36.9% Lower
SGX has reported a net profit of $159.2m for 1H09, 36.9% lower compared to previous year due to adverse market conditions.

Tianjin Zhong Xin Expects Positive FY08 results
Tianjin Zhong Xin Pharmaceutical Group expects to be in net profit position for FY08 ended 31 December 2008, mainly attributable to improvements in business and returns on investments, unlike FY07 during which the company was in the red.

OKP Hldgs  0.205 -- --   
Business: An infrastructure and civil engineering company. [FY18 Turnover] Construction (50.9%), maintenance (44.6%), rental income (4.5%).

Insight: May-19, 1Q19 revenue slid 16.8% due to decreased r... Read More
Shangri-La Asia  -- -- --   
Business: Co is primarily a hotel property operator.

Insight: Sep-17, Co disclosed under listing rules that the ... Read More
Green Build Tech  -- -- --   
Business: Co's principal activities include project-based activities involving energy conservation services & sustainable developments in China.

Insight: Mar-19, FY18 revenue sank 70.1% due to the substan... Read More
Ascendas REIT  2.980 -- --   
Business: Co invests in the real estate markets of Singapore and Australia.

Insight: Apr-19, FY19 gross revenue and NPI inched up 2.8% ... Read More
Micro-Mechanics  1.550 +0.020 +1.31%   
Business: Manufactures consumable parts & tooling used in the assembly & testing of semiconductors. [FY18 Geographical] China (26.7%), S'pore (24.5%), M'sia (19.8%), USA (18.9%), Philippines (10.1%).

Insight: Apr-19, 9M19 revenue slid 6.1% due to lower sales ... Read More
Innopac Hldgs  -- -- --   
Business: Co principally engages in investments of marketable securities, financial instruments and investment properties.

Insight: May-19, 9M19 revenue slid 56.3% due to decreased r... Read More
Singapore Exchange  7.710 +0.13 +1.72%   
Business: [FY18 Turnover] Equities & fixed income (48.2%), derivatives (40.2%), mkt data & connectivity (11.6%).

Insight: Jan-19, 1H19 operating revenue increased 5.7% to $... Read More
Tianjin Zhong Xin Pharmaceutical Group  0.910 +0.010 +1.11%   
Business: Mfg of Chinese & Western pharmaceutical pdts in China.

Insight: Apr-19, 1Q19 revenue rose 8.6% to Rmb1.8b. Gross p... Read More


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