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Singapore Daily Bulletin – 09/03/11
Daily Bulletin | 09 March 2011
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APB Divests Stake In Kingway Brewery For Rmb1.08b
Heineken-APB (China) (HAPBC), a 50:50 joint venture between Asia Pacific Breweries (APB) and Asia Pacific Investment, has entered into an agreement to sell 21.37%-stake in Kingway Brewery for Rmb1.08b ($205m). This value is subject to further adjustments in share capital and factors that may affect Kingway Brewery shares before completion of the transaction. The offer represents an estimated premium of 72% over the book value of the investment and a 63% premium over Kingway Brewery’s closing price on 8 Mar-11. HAPBC would gain approximately $76m after deducting foreign exchange and transaction related expenses and APB, approximately $38m, given its 50%-stake from the disposal. Its shares rose 20 cents to $21.90 on this news.

Significance: APB will be commissioning its new brewery in Guangzhou and given the company’s current strategy to focus on the premium segment in China, the divestment is a timely and beneficial one.

Datapulse Records 118.3% Jump In 2Q11 Profits
Datapulse Technology’s (Datapulse) 1H11 financial report posts a 99.1% surge in revenue to $22.2m in 2Q11 from $11.1m in 2Q10 and net profit soared 118.3% in the same period from $2.2m to $4.8m. This translates into earnings per share of $0.0081 versus $0.0038 the previous year. The good performance was a result of fulfilling the higher demand for media storage products and services arising from the year-end festive period in 1H11 and new product launches. Its financial position remained strong with a net cash position of $44m as at 31 Jan-11 and continued generating positive operating cashflows amounting to $5.1m and $6.6m during 2Q11 and 1H11, respectively.

Significance: Weaker demands in the industry and high raw material costs remains a challenge for Datapulse in 2H11.

Samudera Acquires Vessel For US$11m
Samudera Shipping Line (Samudera) has entered a contract to acquire a second container vessel for about US$11m, which will be financed through a combination of internal resources and bank borrowings. The vessel was built in 1999 with a capacity of 1054 TEUS (twenty-foot equivalent units) had been part of a chartered fleet prior to the acquisition. It is expected to be delivered at the end of Mar-11 and will continue to serve her usual service routes (Malaysia-Singapore Express and Bangkok Express).

Significance: This is the second container vessel acquired by the company since 1Q11 and it is in line with Samudera’s business strategy of increasing the proportion of vessels owned, enabling greater control over vessel operating cost and capacity.

Samudera Shipping Line  -- -- --   
Business: Co is a regional Container Shipping line serving the Middle East and the Indian Sub-continent in the west, South East Asia and Indo-China at the center and the Far East to the north.

Insight: Apr-19, 1Q19 revenue inched up 1.5% to US$93m due ... Read More


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