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Stocks In Focus SG (AusGroup, Hotel Royal, Smartflex) – 13/10/14
Daily Bulletin | 13 October 2014
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AusGroup via its joint venture company, AGC Meisei Joint Venture, has bagged a contract worth A$197 million for the provision of subcontract works involving painting, surface protection, fireproofing and insulation. Expected to commence in March 2015 until December 2016, the works will be carried out on the onshore facilities for a liquefied natural gas project in Darwin, Australia. Including the latest contract win, AusGroup’s order book will be lifted to AU$480 million.

Hock Lian Seng Holdings has been awarded the tender for an industrial land site measuring 25,700 square metres situated in Tuas South Avenue 7 for $31 million. The group intends to develop the land parcel into an industrial development comprising of strata titled units. The transaction was financed by a combination of bank borrowings and internal resources of the company.

Hotel Royal agreed to acquire a 97-room boutique hotel, The Baba House and its business in Melaka, Malaysia for RM26.1 million. The acquisition will allow the group to further grow its operations in Malaysia as well as the potential for capital appreciation as the target hotel is located on prime land from various Melaka’s historical sites and is limited in supply. The acquisition is expected to be financed by both cash and bank borrowings.

Lasseters International Holdings proposed the sale of a freehold land and building located at Lot 21 – 24 & 37, 400 Ruffles Road, Willow Vale in Queensland, Australia for A$1.6 million. The property occupies a land area of 23,367 square metres. The company is expected to incur a net loss of A$1.3 million according to the net asset value of the property of A$2.9 million. The move will allow the company to free up and re-allocate its resources into its core-business. In addition, the company intends to use the proceeds from the disposal into the repayment of bank loans and as working capital.

Smartflex Holdings proposed the placement of 30 million new shares at $0.12 per share. The new shares will represent 23.7 percent of the enlarged share capital of the company. The net proceeds of US$2.7 million generated from the shares placement, will be channelled into its working capital requirements.

Unionmet (Singapore) registered no revenue for the third quarter ended 31 August as the group’s trading partners were unable to secure financing for their trading lines which were cut due to a credit squeeze which resulted from a metal financing scandal. Consequently, the company has sank further into losses.

AusGroup  0.039 +0.001 +2.63%   
Business: Co mainly provides subcontract services to the oilfield equipment manufacturing co in South East Asia. [FY16 Turnover] Projects (62.2%), maintenance Services (28.5%), fabrication & manufacturing (5.5%), port & marine Services (3.8%).

Insight: Nov-17, 1Q18 revenue increased by 53.6% due to the... Read More
Hock Lian Seng Hldgs  0.335 -0.005 -1.47%   
Business: [FY17 Turnover] Civil engineering (99%), property development (0.8%), investment properties (0.2%).

Insight: Nov-18, 9M18 revenue jumped 77% contributed mainly... Read More
Hotel Royal  -- -- --   
Business: Co owns and operates hotels and investment properties in Singapore,Malaysia New Zealand and Thailand. [FY17 Turnover] Hotel (83.6%), property (15.6%), financial investments (0.8%).

Insight: Aug-18, 1H18 revenue rose 1.1% mainly due to highe... Read More
Lasseters Int'l  -- -- --   
Business: Operates casinos in Australia & New Zealand. [FY18 Turnover] Casino (82.1%), spa & wellness (15.3%), property development (2.6%).

Insight: Aug-18, FY18 revenue dipped 2.6% mainly due to low... Read More
Asia Vets Holdings  -- -- --   
Business: Co is currently a cash company.

Insight: Feb-18, FY17 Co continues being a cash company tha... Read More


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