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Stocks In Focus SG (China Flexible Packaging Holdings, Lorenzo International, Matex International) – 31/12/14
Daily Bulletin | 31 December 2014
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China Flexible Packaging Holdings has released its 4Q14 financial reports, showing a rise in revenue by 76.3 percent to Rmb172.8 million due to a change in product mix towards higher margin shrinkage film products. Gross profit margin improved to 13.3 percent in 4Q14, contrasting to a negative margin in 4Q13. A fall in all expenses led to a net profit attributable to owners of Rmb17.3 million in 4Q14, compared to a net loss of Rmb405.1 million in 4Q13. For the full year ended 31 October, the company made a turnaround with earnings of Rmb3 million as revenue came in 35 percent higher at Rmb631 million.

Kitchen Culture Holdings has announced awards of contracts worth $6.2 million in the past five months, including the supply and delivery of refrigerators and freezers for the high-end residential development, Corals at Keppel Bay. This brings the group’s total order book to $50.1 million as of 30 November. These contracts are expected to complete by the next three years.

Lorenzo International is in the midst of a $124 million joint venture discussion with Genetik Inc, relating to the announcement by Genetik Inc to acquire Asia-wide rights to Gene ID on 30 October. Gene ID is a clinical laboratory improvement amendments certified molecular laboratory which specialises in DNA sequencing for molecular diagnostics and oncogenetic testing. Genetik Inc will contribute laboratory services and an imaging centre in Singapore worth a total of $100 million while Lorenzo will bring forth $24 million in funds for a 20 percent stake in the joint venture.

Matex International has entered into an agreement with Australian coal producer, Blackgold International Holdings, to acquire its subsidiary Blackgold Holdings Hong Kong for $475 million. Based on a valuation report, the target company is valued at not less than $500 million. Blackgold Holdings owns and operates four underground thermal coal mines situated in Chongqing, China. The deal, which constitutes a reverse takeover, will allow Matex International to venture into the energy sector, and have a cut in the coal mining and trading industry in China, diversifying from the business of specialty chemicals.

Neptune Orient Lines will wholly acquire and own India Infrastructure & Logistics (IILPL) for a sum of US$10 million from its joint venture partner, HIPE Transportation Infrastructure Ventures. The unaudited consolidated accounts of IILPL saw a net asset value of US$17.7 million at the end of 3Q14, and earnings before interest, tax, and depreciation and amortisation expense (EBITDA) for FY14 at US$4.3 million.

Pacific Andes Resources Development has released its FY14 financial statements, showing a 7.3 percent drop in revenue to HK$8.1 billion due to a fall in revenue generally across all segments except sales of fishmeal and fish oil. Gross profit margin rose by 6.1 percentage points to 22.1 percent in FY14, resulting from an effort in cost cutting. As expenses generally fell, the company recorded a net profit attributable to owners of HK$953.4 million, a rise by of 27.5 percent from HK$747.7 million in FY13.

Transcorp Holdings has released its FY14 financial statements, disclosing a multi-fold jump in revenue to $12.1 million. The surge was due to a $11 million gain on disposal of its golf business. Consequently, profit before tax was $9.2 million compared to a loss before tax in FY13. The company returned to profitability with net profit attributable to owners of $9.7 million, contrasting to the loss in FY13.

Vallianz Holdings has signed on a sales and purchase agreement with Holmen International, to acquire 45 percent of shares in Holmen Heavylift Offshore for a cash consideration of US$2.9 million. The acquisition will allow Vallianz to diversify and include construction support vessels in its fleet, which is in line with its goal of becoming a leading player in the global offshore oil and gas industry.

Ying Li International Real Estate has entered into a Rmb559 million investment in Shanghai Zhao Li Investment Centre. The limited partnership interest will enable Ying Li to participate in the Beijing Tongzhou Project. Located in the Southeast of Beijing, the project consists of the development of residential units, office buildings and retail malls with an aggregate gross floor area of approximately 750,000 square metres. This marks the company’s maiden foray beyond its conventional Chongqing market into first-tier cities. Together with China Everbright and others, the company will invest a total of Rmb7.2 billion in the project eventually.

Kitchen Culture Hldgs  0.081 -0.002 -2.41%   
Business: Provider of premium kitchen solutions. [FY18 Turnover] Distribution & retail (65.2%), residential projects (34.8%).

Insight: Aug-18, FY18 revenue slid 70.7% due to lower reven... Read More
Lorenzo Int'l  -- -- --   
Business: Co is a branded lifestyle furniture retailer. [FY19 Turnover] Furniture business (97.3%), building material business (2.7%).

Insight: May-19, FY19 revenue slid 8.5% attributable to low... Read More
Matex Int'l  -- -- --   
Business: Co provides colours, specialty chemicals & clean solutions to different sectors. [FY18 Geographical] China (83%), other APAC countries (17%).

Insight: Feb-19, FY18 revenue slid 14.3% due to reduced sal... Read More
Pacific Andes Resources Devt  -- -- --   
Business: Engages in industrial fishing & supply chain mgt of frozen seafood pdts. [FY14 Turnover] Fishery and fish supply (60.6%), frozen fish SCM (39.4%).

Insight: Mar-15, Co's 1Q15 revenue reported a 25.3% drop, w... Read More
Transcorp Hldgs  -- -- --   
Business: Pursuant to the acquisition of Regal Motors, Co is now focused on the automobile sales business.

Insight: Jun-19, 1H19 revenue fell 48.1% to $1.5m mainly at... Read More
Ying Li Int'l Real Estate  0.102 -0.004 -3.77%   
Business: Property developer based in Chongqing. [FY18 Turnover] Property development (74.6%), property investment (25.4%).

Insight: May-19, 1Q19 revenue fell 53.8% to Rmb143m attribu... Read More

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