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Stocks In Focus SG (Xyec Hldgs, Neo Group, Sunpower Group) – 09/09/13
Daily Bulletin | 09 September 2013
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Xyec Approaches Singapore For Listing Instead Of Japan
Xyec Holdings, a leading integrated engineering and information technology (IT) services provider for the automobile, machinery, telecommunications and electronics industries has proposed to list on the Catalist Board of the Singapore Exchange (SGX) in order to expand its business operations in Southeast Asia (SEA) via acquisitions and by attracting local talent in the region. A successful listing will set Xyec as the first Japanese company to debut only in Singapore. Xyec chief executive officer Manabu Kobayashi has mentioned its attention to target sales growth of more than 50 percent to ¥10 billion (US$100 million) in the next two years, with 10 percent being derived from the region. Upon listing, Xyec would focus mainly on growing its existing business segments, develop new capabilities and new business segments and to put forth expansions in new locations via mergers, joint ventures and/or strategic alliances. According to Bloomberg, Xyec, which is targeting to list on 18 September, is in talks with two Singapore firms in IT about possible deals.

Significance: Bloomberg highlighted that companies around the world have announced deals of $72 billion of assets in SEA this year amid expectations for growth to outpace the rest of the world. A successful listing in SGX would provide continuous growth to Xyec as it opens the door to SEA for Xyec to tap on the robust developments.

Neo Group’s 1H14 Profit Soars 293.6%
For the six months ended 31 July 2013, Neo Group turned in a stellar set of financial results with revenue jumping 23.2 percent to $23.1 million and earnings soaring 293.6 percent to $2.8 million, underpinned by the strong performance in the food catering business arising from the increase in social catering events. The group’s food retail business also improved, recording an increase of 11 percent in revenue as delivery sales were boosted by 61.4 percent after the company’s newly created online order system launched at the start of this year and posted 13.5 percent revenue growth in same-outlet stores for most of its “umisushi” outlets. In line with its commitment to distribute dividends of not less than 60 percent of its net profit, Neo Group also proposed a dividend of $0.0116 per share, which is 136.7 percent higher than 1H13’s $0.0049. Going forward, it plans to create new catering brands as well as to expand the number of “umisushi” outlets, both directly and through franchises, in Singapore and Indonesia.

Significance: Reporting its third consecutive reporting period of growth since its listing in July 2012, Neo Group is confident that its business will remain buoyant for the rest of FY14, especially since the second half of the year tends to be stronger than the first half given the major festive occasions occur in that period.

Sunpower Secures Rmb85.1m Deal With Shenhua Group
Sunpower Group, a China-based heat transfer technology specialist which design and manufacture energy-efficient and environmental protection products, has announced that it has secured a contract of Rmb85.1 million ($17.8 million) with Shenhua Group. This deal will see Sunpower supplying zero liquid discharge technique and key equipment for salty wastewater treatment, valued at Rmb37.9 million, and flare system engineering, procurement and construction service, valued at Rmb47.2 million, for a methanol downstream processing project. The project, which is expected to be delivered by the end of 2014, will be located in Yushen Industrial Park, Yulin City, Shaanxi Province. With the onset of the deal, Sunpower is set to provide optimistic financial results for FY13 and FY14.

Significance: This deal marks the progress and exposure of Sunpower in the energy-efficient and environmental protection business. All-in-all, Sunpower could see an increasing number of business opportunities in China, as the scale of energy-efficient industry expands together with the demand for environmental friendly technology in the country.

Neo Group  0.400 -- --   
Business: A leading food catering group. [FY19 Turnover] Food catering (45.2%), food manufacturing (27%), supplies & trading (17.9%), food retail (9.3%), other business (0.6%).

Insight: May-19, FY19 revenue inched up 1.6% with increased... Read More
Sunpower Group  0.435 +0.005 +1.16%   
Business: Co specialises in the design, R&D & manufacture of customized energy-saving & environmental protection products. [FY18 Turnover] Manufacturing and Services (M&S) (77.4%), Green Investments (GI) (22.6%).

Insight: May-19, 1Q19 revenue increased 30.6% to Rmb811.6m ... Read More


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