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24-Nov-2009 08:12

Straits Times Index / STI to cross 3000 boosted by long-term investors

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We may be on our way to 2,829 level (the next Resistance).

Watch out ...............

Cheers.

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20-Nov-2009 18:42

Keppel Land / Kepland

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Keppel Land: Buy (Kim Eng, 19 Nov)
We gathered from property agents that the VVIP preview for Marina Bay Suites is underway, with the indicative pricing expected to be between $2,000-2,500 psf. There are no shoebox units in this 221-unit development – the smallest 3-bedder with an area of 1,572 sq ft is likely to cost almost $4m. We are keeping our average selling price (ASP) assumption of $2,200 psf for now, and we believe that the pricing is achievable. Phase 1 of the Marina Bay Financial Centre (MBFC) appears on schedule to be completed by 2010. The latest pre-commitment level is 67% (total NLA is 1.6m sq ft), and we expect leasing activities to quicken a couple of months before completion. We think such a prime Grade A development will naturally attract quality tenants. K-REIT's rights-issue to raise $620m just concluded, leaving it with a very low gearing of 9.1%. We postulate that K-REIT may acquire KepLand's one-third stake in MBFC Ph1, which we value at $918m (assuming a capital value of $1700 psf). Assuming it is fully debt-funded, such an acquisition will bring K-REIT's leverage to 37% – still a comfortable level. KepLand could then reinvest most of the proceeds in new residential developments. KepLand's share price has outperformed in the past month and we think it is the start of a re-rating. Its overseas sales are progressing well, its local projects look set to benefit from the IRs and the MBFC is set to be the "location of choice" for tenants. Maintain our BUY recommendation with a new target price of $3.70, pegged at par to FY10 RNAV, as we raise the valuation of its fund management business to 12x.

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20-Nov-2009 00:02

HG Metal / HG Metal a hidden gem ?

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Parkings, u are obvious a sapphire supporter.

U should put up yr point at sapphire forum. That is better.........

Next would appreciate correct info is share out loh....

Thanks PAL.

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19-Nov-2009 23:56

HG Metal / HG Metal a hidden gem ?

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Hi parkings, emm u need to read the info properly. HG metal 3rd qtr result not even out, u already announce the result yourself....haha

I thk u need to go to their website n check properly. Pls don't share wrong info. Its mis-leading leh.

Thanks.

parkings ( Date: 19-Nov-2009 23:26) Posted:

I am confused on this counter. As far as I know, there are 3 counters into steel mining. HG has 3q loss of 15582 S$ at now share price is 0.15. Delong has 3q profit of 139,129,000 RMB and at share price around .88 cents. Sapphire has 3q profit of 6,647,000 S$ and share price of 0.02 cents. So shouldnt sapphire be a better bet? Can anyone share insight. Thanks

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19-Nov-2009 21:27

HG Metal / HG Metal a hidden gem ?

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Today HG performance not bad.............got hit 0.15 some more.

Cheers to those that hold on.

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19-Nov-2009 21:25

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Singapore declares its recession over

Slideshow: Full Photo Coverage: Business & Economy

SINGAPORE (AFP) - – Singapore on Thursday declared a severe recession over as data showed its economy grew for the second straight quarter in the three months to September.

Official data released Thursday showed gross domestic product (GDP) expanded 14.2 percent in the July-September period on a quarter-on-quarter annualised basis following a 21.7 percent surge in the previous quarter.

"Effectively, the recession in Singapore is over," Ravi Menon, the permanent secretary with the Ministry of Trade and Industry (MTI), said at a media briefing.

Year-on-year, Singapore's GDP grew 0.6 percent in the third quarter compared with a 3.3 percent contraction in the April-June period, the MTI said in its third quarter economic survey.

In its outlook for 2010, the ministry forecasted economic growth of 3.0-5.0 percent while maintaining its existing projection of a contraction of 2.0-2.5 percent this year.

Singapore's trade-reliant economy was the first in Asia to sink into a recession last year as the global downturn hit demand for its exports, especially from the United States.

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19-Nov-2009 07:59

HG Metal / HG Metal a hidden gem ?

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Hope today move some more. Cheers

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17-Nov-2009 22:21

Others / DOW

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Today Dow down if there is, should only be a minor one only.

Let monitor.

Cheers.

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17-Nov-2009 20:18

HG Metal / HG Metal a hidden gem ?

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I bought HG metal bc of the business sector it is in. N this one may need us to be patience abit.

Recently we can see semicon sector picking Up. It is a possible indicating signal that a true recovery is coming.

Hopefully we can see our HG metal in action soon also. Cheers.

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16-Nov-2009 23:49

Keppel Land / Kepland

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Kepland major Up, i suspect maybe related to the casino opening......nearer?

My guess.

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16-Nov-2009 19:41

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Dollar weakness driving STI higher

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16-Nov-2009 18:58

Keppel Land / Kepland

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Hehe, next target....hit $4 please

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16-Nov-2009 18:57

SMRT / SMRT

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This is not a dead counter. Its a defensive stock. Today not a day fr all defensive stock.

Cheer pal.

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16-Nov-2009 11:42

Keppel Land / Kepland

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Finally $3.

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15-Nov-2009 22:45

Citic Envirotech / United Envirotech

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Current projects it got, will definately help Utd Envir to get higher revenue & profit next year.

So get it while it is still cheap.................

And remember to check the stock yrself when place BET. This one definately a good bet.

Cheers.

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15-Nov-2009 22:31

Citic Envirotech / United Envirotech

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Still too cheap at this price. Hope this baby wake UP soon.

Cheers.

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10-Nov-2009 18:21

HG Metal / HG Metal a hidden gem ?

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This one needs times. It worth more than current price. But have to be patience

freeman_5js ( Date: 09-Nov-2009 23:14) Posted:

u brought this counter too? tt "up" may not come so fast

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10-Nov-2009 17:17

Citic Envirotech / United Envirotech

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UNITED ENVIROTECH: Rising recurring income

Written by Leong Chan Teik

Tuesday, 10 November 2009

Dr Lin Yucheng, CEO & Chairman, United Envirotech. Photo by Sim Kih

UNITED ENVIROTECH is one of the earlier S-chips to list on the Singapore Exchange. It was listed in 2004 and has sailed through the years with its reputation intact while some S-chips ran into corporate governance and accounting issues.

The company isn’t exactly an S-chip. Its founder, CEO and chairman is Dr Lin Yucheng, who has been a Singapore citizen since 1993.

I first met Dr Lin around the time of the company’s IPO.

I learnt then that he grew up in Fujian province, received a Bachelor of Science degree and won a government scholarship to pursue a PhD in the Imperial College of Science and Technology in London.

“I thought I would return to China to be a university professor,” he told me. But one day, he found himself at an interview arranged by Singapore’s Economic Development Board.

And that’s how, in 1990, he ended up in Singapore where, after a couple of years, he set up a joint venture that later metamorphosed into United Envirotech.

The company is a leader in advance membrane technology, especially Membrane Reactor (MBR) technology, in treating wastewater from China’s chemical and petrochemical industries.

(S$’000)	1H10 (Sept-end)	1H09	% change
Revenue	20,134	23,240	-13.7
Net profit	4,210	2,467	70.7
Net margin	20.9%	10.6%	10.3 basis points
Net asset value/share	21.62 cts	20.50 cts	5.5
Dividend	-	-

This type of wastewater is harder to treat than normal wastewater discharged by households.

A key advantage of MBR technology: the treatment plant needs just 20-30% of the spatial needs of a conventional plant.

United Envirotech is a key player in the MBR technology space. It is recognized as one of only 7 international MBR companies in the world, along with big names like GE Water & Process Technologies, and Siemens.

United Envirotech has achieved outstanding projects such as its plant for Sinopec Luoyang, which was completed in 2004, and was the largest industrial wastewater treatment plant using MBR in Asia then.

****

At a briefing last Friday for analysts and fund managers, Dr Lin highlighted a couple of things about United Envirotech currently, including:

* Record order book: It now stands at S$160 m with engineering projects to be completed within 18 months, which is an average of S$53.3 m per half year.

That’s significant when compared with the company’s recent revenue. In FY 09 (ended March), the 12-month revenue was S$42.9 million. The revenue inflow was at about the same pace in 1H FY10 at S$20.1 m.

These revenue figures comprise contributions from both turnkey EPC engineering services and recurring treatment businesses.

Model of Guangzhou plant that will be China's largest MBR project - to be built by United Envirotech.

* China’s largest MBR project (picture above): United Envirotech, which has just announced this project, will build the plant in Guangzhou to treat municipal wastewater.

Highlighting the attractiveness of MBR technology, Dr Lin said the plant would be built on less than 10% of the area occupied by a conventional plant, which translates into lots of land savings for the local government.

The plant will be completed in 8-9 months, instead of the normal 18 months, as United Envirotech has committed to complete it before the start of the Asian Games in Guangzhou next November.

Type	Project	% held by UEL	Design capacity (per day)	Current capacity (per day)	Investment value (RMB m)	Concession (years)
TOT	Liaoyang	100	200,000 m³	150,000 m³	180	30
TOT	Xintai	100	30,000 m³	30,000 m³	36	30
TOT	Xintai	100	50,000 m³	40,000 m³	45	30
BOO	Nansha	40	10,000 m³	3,000 m³	85	BOO
TOT	Dafeng	50	15,000 m³	7,500 m³	72	30

* The total current capacity is 230,500 cubic metre, or 75.6% of the 305,000 cubic metre design capacity. There is thus significant upside when the current treatment capacity is expanded.

* The Nansha and Dafeng plants treat industrial water. They incur relatively high investment costs but United Envirotech charges higher rates for industrial water than for treating municipal water (in Liaoyang and Xintai).

* Rising recurring income: United Envirotech has 5 wastewater projects (above) which provide recurring income.

Another 2 projects in Heilongjiang and Liaoyang which were secured in Sept and October will start contributing recurring income when completed in 2010 and 2011, respectively.

For an idea of the size of the recurring revenue, consider that in Q2 (ended Sept 09), it amounted to S$3.2 million (while engineering contributed S$8.1 million). If annualized, the recurring revenue comes up to S$12.8 m.

This figure will increase over time when:

a) the capacity of the treated wastewater rises;
b) United Envirotech increases its charges according to a formula agreed to with its clients, and completes the upgrading of plants.
c) United Envirotech secures or completes the construction of more projects, and operates the plants.

Glossary:

* TOT is Transfer-Operate-Transfer: Company buys the property and operational rights of a facility, and receives his returns through normal business operations within a concession period. At the end of such period, the company transfers the facility to its original owner for no cost.

* BOT is Build-Operate-Transfer: A company finances, designs, constructs, and operates a facility for a specified period of time, after which the ownership is transferred back to the owner. During the operating time, the company charges facility users fees.

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08-Nov-2009 23:04

COSCO SHP SG / CoscoCorp

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Summary of analysts' recommendation on Cosco Corp:

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08-Nov-2009 13:13

Citic Envirotech / United Envirotech

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Agreed. Hehe.

Me still waiting for Binting forecast of possible 0.25 to happen. If happen will buy some more. Anyway at this price already very attractive n can add on. To ne frank, this one worth alot more.

Cheers.

ozone2002 ( Date: 08-Nov-2009 12:33) Posted:

if this baby drops any further, i'll buy every cent it drops..

no reason for it to keep falling, gettin huge projects, revenue up, profit up..

this company is still profitable thru its recurring incomes

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Singapore declares its recession over

Revenue

Type

TOT