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It's time to rebound ????
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stocksburntme
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03-Nov-2010 09:52
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wait and wait and wait...only to feel more disappointed with this counter |
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stocksburntme
Veteran |
03-Nov-2010 00:29
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Dead tomorrow...... | ||
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Flyordie
Veteran |
02-Nov-2010 21:52
Yells: "Sifu, Online !!!! Sea Pek Urgent !!!!" |
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Media Release Baker Tech reports net profit of S$20.3 million for 9M 2010 Revenue 13.8 28.8 (52) 26.8 63.7 (58) Cost of goods sold (9.3) (9.0) 3 (13.4) (26.3) (49) Gross Profit 4.5 19.8 (77) 13.5 37.4 (64) Share of Associates 0.03 0.03 - 0.3 (0.5) NM Profit before tax 0.5 21.6 (98) 21.9 35.8 (39) Net Profit 0.08 18.7 (99) 20.3 30.2 (33) Basic EPS* (cents) 3.03 4.76 (36) Diluted EPS+ (cents) 2.09 4.74 (56) * based on a weighted average number of 670,473,313 ordinary shares for the financial period ended 30 September 2010 (30 September 2009634,201,369) + based on the number of ordinary shares in issue during the financial period ended 30 September 2010 adjusted for dilutive effect of 300,312,934 warrants (30 September 20092,788,298 warrants). 2 November 2010 Baker Technology Limited (Baker Tech‟ or the Group‟) 巴克科技有限公司, a SGX-ST mainboard-listed manufacturer and provider of specialised marine offshore equipment and services for the oil and gas industry, has reported a net profit of S$20.3 million on group revenue of S$26.8 million for the nine months ended 30 September 2010 (9M 2010). For the quarter ended 30 September 2010 (3Q 2010), the group achieved a group revenue of S$13.8 million and a net profit of S$82,000 due mainly to the slowdown in the global oil and gas sector. 3Q 2010 Performance Revenue fell 52% to S$13.8 million as compared to a year ago. Order intake had slowed down significantly in 2009 as many oil and gas projects were delayed due to the global economic crisis. However, the Group began to feel the impact of the slowdown in the global oil and gas industry only after 3Q 2009 as it was still completing the backlog of orders secured in earlier years. Order intake has started to resume early this year and 3Q 2010 revenue had in fact, doubled from the S$6.8 million reported in 2Q 2010. Gross profit was down 77% from S$19.8 million to S$4.5 million due to lower gross margins as most of the current projects are still in the early stages of completion. Administrative expenses decreased from S$2.0 million to S$1.8 million in 3Q2010 due to lower payroll expenses, which was however partially offset by higher professional and legal fees. Contribution from its 49%-owned associate, York Transport Equipment Asia (York) held steady at $31,000 for 3Q2010 as compared to a year ago. BAKER TECHNOLOGY LIMITED Company Registration No.: 198100637D 2 The Group suffered a foreign exchange loss of S$2.4 million as the US dollar weakened against the Singapore dollar, resulting in a lower net profit of S$82,000 in 3Q2010. For the period under comparison, the US dollar had weakened approximately 6%. 9M2010 Performance Revenue decreased 58% to S$26.8 million for 9M2010, reflecting the lingering effects of the slowdown in the global oil and gas industry. Consequently, gross profit fell 64% to $13.5 million. Gross profit margin was about 50% for 9M2010, due to the recognition of profits on several projects which were either completed or near completion during the first half of the year, as well as a write-back of unutilised warranty provision of approximately $1.7 million in 9M2010. Contribution from the Group‟s 49% stake in York reversed from a share of losses of S$512,000 for 9M2009 to a share of profits of S$262,000 for the corresponding period this year. This is due to an improvement in trailer axle industry and a strong demand for its products in the Indian market in recent quarters. Net profit for 9M 2010 declined from S$30.2 million to S$20.3 million. Strong Financials Net cash used in operating activities for 9M2010 was S$0.4 million, down from S$3.5 million in the previous quarter due to higher project progress billings and increase in business activities. The Group‟s available cash and cash equivalents remain healthy at S$72.7 million as at 30 September 2010, up from $67.8 million a year ago. This is mainly attributable to the net proceeds from conversion of warrants and dividend income from PPL Shipyard, after deducting dividends paid out to shareholders earlier in the financial year. The Group has no bank borrowings. Consequently, shareholders‟ fund increased from S$99.5 million as at 31 December 2009 to S$113.3 million at 30 September 2010. Net asset value per share as at 30 September 2010 stood at 16.6 cents, up from 15.2 cents. Order book As at end September 2010, the Group‟s net order book stood at US$20 million, marking a recovery from the low of US$7 million as at end December 2009. These orders are expected to be completed within the next 12 months. Outlook According to its International Energy Outlook 2010 (July 2010), the Energy Information Administration (EIA), a U.S. forecasting agency, expected total global energy demand to grow by 49 percent from 2007 to 2035, with developing countries like China and India driving the bulk of the increase. EIA added that although renewables are the fastest-growing source of world energy supply, fossil fuels are still set to meet more than three-fourths of total energy needs in 2035. The long term fundamentals of the marine and offshore oil and gas industry are still very promising especially after the Macondo oil spill at the Gulf of Mexico earlier this year. The oil and gas industry is moving with greater urgency towards higher safety standards and this spells opportunities for Baker Tech; our specialised equipment are widely recognized as best-in-class and conforms to the highest industry standards. We expect FY2010 to be a profitable year, with positive contributions from our core operating business and investments. |
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Flyordie
Veteran |
02-Nov-2010 14:09
Yells: "Sifu, Online !!!! Sea Pek Urgent !!!!" |
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Bro,patience will be rewarded... 
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stocksburntme
Veteran |
02-Nov-2010 11:00
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can someone explain y this counter is not moving at all...stuck at 0.415 forever |
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stocksburntme
Veteran |
30-Oct-2010 11:32
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i hate this counter.......... | ||
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Flyordie
Veteran |
29-Oct-2010 18:13
Yells: "Sifu, Online !!!! Sea Pek Urgent !!!!" |
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Flyordie
Veteran |
29-Oct-2010 17:15
Yells: "Sifu, Online !!!! Sea Pek Urgent !!!!" |
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GOOD !!! Dont miss the boat !!!!! Monday UPUPUP !!!! Why?? Because red red red green !!!!! |
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pharoah88
Supreme |
28-Oct-2010 11:40
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WHY it tOOk sO lOng ? tO dO gOOd thIng ?
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noonelikeme
Senior |
28-Oct-2010 11:21
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After selling PPL to YZJ, Backertech should be cash rich now. I guess need patience to wait for they to make their strike | ||
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stocksburntme
Veteran |
28-Oct-2010 10:16
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Is this counter hopeless already? might have to cut loss | ||
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stocksburntme
Veteran |
25-Oct-2010 09:22
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also in the red. very disappointing | ||
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Ytrade
Member |
23-Oct-2010 19:42
Yells: "Regrets come with poor management of oneself" |
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I doubt so will ever go up. I am still in red. Vested in CPF for months.
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Flyordie
Veteran |
23-Oct-2010 19:18
Yells: "Sifu, Online !!!! Sea Pek Urgent !!!!" |
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BAKER TECHNOLOGY LIMITED (Unique Entity Number 198100637D) (Incorporated in the Republic of Singapore) NOTIFICATION OF RESOLUTION PASSED AT EXTRAORDINARY GENERAL MEETING The Board of Directors of Baker Technology Limited (the circular to shareholders dated 8 October 2010 (the Proposed Disposal. Capitalised terms used in this announcement shall have the same meanings as defined in the Circular unless the context requires otherwise. Pursuant to Rule 704(14) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Company wishes to inform that at the EGM of the Company held today, the ordinary resolution pertaining to the disposal by the Company of the entire issued and paid-up share capital of PPL Holdings Pte Ltd to QD Asia Pacific Ltd based on the terms of the Amended Agreement as set out in the Notice of EGM dated 8 October 2010 was duly passed by the Shareholders. By Order of the Board Baker Technology Limited Aw Seok Chin Company Secretary Singapore
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stocksburntme
Veteran |
21-Oct-2010 10:11
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when will this bugger go up !! | ||
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Flyordie
Veteran |
18-Oct-2010 18:50
Yells: "Sifu, Online !!!! Sea Pek Urgent !!!!" |
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stocksburntme
Veteran |
18-Oct-2010 16:47
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red red red green red red red | ||
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huatwaa...
Member |
17-Oct-2010 14:17
Yells: "Happy Go Lucky !" |
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After 4 over months side way trade it should time for BakerTech to fly ! Nasdex doing well on Friday let see Singapore tech stock on Monday. Good Luck ! |
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stocksburntme
Veteran |
15-Oct-2010 09:37
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i sold away some at loss, now left with 50 lots ave 0.44 |
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Flyordie
Veteran |
14-Oct-2010 22:11
Yells: "Sifu, Online !!!! Sea Pek Urgent !!!!" |
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Bro,how many lots have you vested? I got 45 lots. average 0.43. You?
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