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Editorial Desk
Editorial Desk | 31 August 2012
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By: Xavier Lim
Articles (51) Profile

The takeover battle for Asia Pacific Breweries continues to be the highlight for the Singapore stock market. Thai Beverage Public Company (Thai Bev) announced that it has increased its stake holding in Fraser & Neave to 29 percent. This placed Thai Bev just 1 percent below the level at which acquirers of company stakes are required to launch takeover offer.

Meanwhile, as there is no concrete resolution to the debt crisis in the Eurozone and no ‘hard’ indication of any recovering in the US economy, stock markets have chosen to remain volatile with thin trading volume. Nevertheless, our local bourse has outperformed the three major US indices, Hang Seng Index as well as Nikkei 225 Index year-to-date.

This issue, we take a close peek on the performance of this year’s newly listed companies. We found out that 11 out of the 13 initial public offerings (IPOs) saw their debut prices reflecting double digit percent jumps. To read more on this, flip no more to page 8.

In addition, we have also assessed the prospects of five IPOs. As long as the interest remains high for IPOs among investors, it is necessary to introduce the latest player, which is none other than Far East Hospitality Trust (FEHT). Investors had high expectations on this high-profile listing Trust and thought that it would start off with a bang. However, disappointment emerged when FEHT saw its debut price closed at $0.95, just 2.1 percent above its issue price as compared to the average debut gain of 26.7 percent of the earlier IPOs. Is FEHT still a BUY? Turn to page 9 for more details.

Next, we explored and examined the prospects of Bumitama Agri. Although experts believe that crude palm oil prices are in no way indicative of a rebound, Bumitama Agri managed to buck the trend of most falling commodity-related stocks. How did this happen? What is the management’s outlook of the company and what are their plans? Details are in page 14.

We also have a story on CIVMEC. Comparing it to its issue price, this newcomer has jumped 195 percent! Currently, CIVMEC is trading at around 19 times its historical earnings after turning in its FY12 results. But will the company’s falling gross profit margin and over-reliance on BHP Billiton and Rio Tinto affect its share price going forward? Find out more in page 15

As Malaysia attracted big Malaysian companies, such as palm oil firm Felda Global Ventures and state-backed IHH Healthcare, seeking new listings on Bursa Malaysia, Singapore has lost its status to mark itself as the IPO destination this year. Nevertheless, experts still believe that foreign firms looking to list in Asia are likely to pick Singapore and Hong Kong. So be prepared to participate in the IPO GAME!

Armed with an arsenal of investment knowledge, Xavier is the Senior Research Editor at Shares Investment.

Please click here for more information about this author.

Thai Beverage Public Co  0.885 -0.020 -2.21%   
Business: [FY18 Turnover] Spirits (46.1%), beer (41.1%), non-alcoholic beverages (7%), food (5.8%).

Insight: May-19, 1H19 revenue rose 26.1% to THB142.6b mainl... Read More
Far East Hospitality Trust  0.645 -0.005 -0.77%   
Business: Invests in a diversified portfolio of income-producing hospitality-related real estate in Singapore. [FY18 Turnover] Hotels & services residences (80.6%), retails & offices (19.4%).

Insight: May-19, 1Q19 gross revenue increased 8% to $27.8m ... Read More
Bumitama Agri  0.590 -- --   
Business: Co produces and trades in crude palm oil (CPO), palm kernel (PK), and related products for refineries in Indonesia.

Insight: Feb-19, FY18 revenue increased 3.1% mainly due to ... Read More
Civmec  0.315 -- --   
Business: An integrated, multi-disciplinary construction & engineering services provider. [FY18 Turnover] Metals & minerals (61%), infrastructure (19.5%), oil & gas (19.5%).

Insight: Aug-18, FY18, Co reported a net profit of $26.2m, ... Read More
IHH Healthcare  1.850 -0.060 -3.14%   
Business: One of the largest listed private healthcare providers in Asia and worldwide. [FY18 Turnover] Parkway Pantai (64.7%), Acibadem Hldgs (31.9%), IMU (2.2%), PLife REIT (1.2%).

Insight: May-19, 1Q19 revenue rose 27.6% as a result of the... Read More
Fraser & Neave  1.690 -0.010 -0.59%   
Business: [FY18 Turnover] Dairies (60%), beverages (25.4%), printing & publishing (14.6%).

Insight: Apr-19, 1H19 revenue inched 1.9% to $931.8m underp... Read More


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