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Daily Bulletin – 13/02/09
Daily Bulletin | 13 February 2009
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China Eratat Sports Racks Up Record 3Q09 Revenue
China Eratat Sports Fashion has achieved a record revenue of Rmb610.2m in 3Q09, representing an increase of 92.1% Y-o-Y. The increase was contributed by strong sales in both its product segments – sports footwear and apparel. Net profit also improved at 92.8%. The company further attributed the success to its product development, marketing efforts and sales strategies to penetrate into existing and new markets.

Equation Corp In $10.3m Rights Issue To Strengthen Balance Sheet
Equation Corp has proposed a renounceable and non-underwritten 2-for-5 rights issue of up to 530m new company shares to raise $10.3m at $0.02 per rights share. The management notes that while its current bank facilities are sufficient to meet its present requirements, net proceeds from the rights issue are meant to provide funds for general working capital, business expansion and potential acquisitions and investments.

Olam Exhibits Strong 1H09 Results; Receives US$33m Loan Facility From ANZ
Olam International has reported a strong net profit growth of 152.1% for 1H09 at $118.3m, in line with a 16.1% growth in sales revenue at $3.86b. The improvement included a one-off gain of $55.9m and all four business segments contributed to the growth in its sales volume. Meanwhile, the company has obtained a US$33m export credit loan facility from ANZ for the development of its US$45m green field integrated soluble coffee manufacturing facility in Vietnam, due for completion by July 2009. The 8.5 year facility is structured through a guarantee by EKF, the official Export Credit Agency of Denmark in favour of ANZ.

Company Profit Guidances And Updates
Dayen Environmental has announced the retirement of its MD, Darren Tan Poon Guan with effect from 12 February 2009.

Centillion Environmental & Recycling has announced through SGX website that it is planning to raise additional funds via a rights issue and will announce the details in due course.

Zhonghui Holdings expects to incur a loss for FY08 ended 31 December 2008 due to lower sales and share of profit from associates, as well as higher operating expenses.

Beauty China Holdings expects that its 4Q08 results ended 31 December 2008 may turn out worse Y-o-Y due to additional provision for impairment of trade receivables.

United Overseas Australia has revised its profit guidance upwards by AU$7m in light of a earlier-than-expected higher percentage completion achieved on its Bangsar South Horizon Project.

Yellow Pages (Singapore) has appointed Board Chairman, Stanley Tan Poh Leng as Acting CEO while it continues to search for a suitable candidate for the position.

DISA  -- -- --   
Business: [FY18 Turnover] Energy management services (70.7%), technology (29.3%).

Insight: Feb-19, 1H19 revenue rose significantly from $0.2m... Read More
Olam Int'l  1.890 +0.070 +3.85%   
Business: Co is engaged in sourcing, processing, packaging and merchandising agricultural products. [FY18 Turnover] Food staples & packaged foods (47.6%), confectionery & beverage ingredients (23.4%), industrial raw materials, infrastructure & logistics (14.9%), edible nuts & spices (14.1%).

Insight: May-19, 1Q19 revenue rose 16.7% due to increased t... Read More
United Overseas Australia  0.705 -- --   
Business: Co is engaged in the devt and resale of land and bldgs, invs in the form of rental ppties and invs in the UOA REIT.

Insight: Mar-18, FY17 revenue was flat at AUD328.8m due to ... Read More

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