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Epure International
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yipyip
Master |
17-May-2009 00:47
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From CIMB 14May09 Epure International S$0.44 Target: S$0.52 Improving margins and stronger balance sheet • Positive outlook intact. On the back of increased government efforts, as well as contracts expected to come from the construction of new plants and the upgrading and replacement of old and inefficient plants, management expressed a positive outlook for the water industry. • Maintain Outperform; higher target price of S$0.52 (from S$0.37). We have kept our forecasts intact. However, we roll forward our P/E target to CY10, now pegging it at 10x (8x previously) to reflect an industry-wide re-rating. As a result, our target price rises from S$0.37 to S$0.52. Epure has a high-earnings-visibility business and solid track record in sustaining its margins. Maintain Outperform. |
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yipyip
Master |
17-May-2009 00:39
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From DBS research 15May09 Epure International Ltd At a Glance • 1Q results in line with our expectations • Respectable EPC orderbook of over RMB800m, Epure also adds stake in another BOT project • Records strong positive operating cash flow of RMB54m • Maintain BUY, TP raised to S$0.64 (14x FY09 EPS) |
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787180
Master |
15-May-2009 11:09
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Quote:
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787180
Master |
15-May-2009 09:28
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Epure's 1Q09 net profit of Rmb40.7m (+32.4% yoy) was within expectations. Though 1Q09 accounts for only 15% of our FY09 forecast, there is no cause of concern due to the lumpy nature of EPC earnings. Gross margins climbed to 35.4% in 1Q09. Balance sheet strengthened as net cash shot up to Rmb505.9m from Rmb381.3m in 4Q08. Management expressed a positive outlook for the water industry. We have kept our forecasts intact. However, we roll forward our P/E target to CY10 and peg it at 10x (from 8x) to reflect an industry-wide re-rating, raising our target price to S$0.52 from S$0.37. Maintain Outperform. | ||||
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yipyip
Master |
13-May-2009 23:24
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1Q ended Mar09 Profit after tax RMB$40.7mln vs Mar08 +32.4% http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_23606E36EE143CC6482575B5004BA97C/$file/Ann_1Q2009.pdf?openelement |
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787180
Master |
10-May-2009 23:33
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Epure ever hit a high of $2.52 and private placement to institutional dealers were between $2.16 to $2.20 and Epure is now cash rich and dividends paying too [/quote Epure International Ltd (Buy; S$0.50; EPUR SP) First batch of orders for 2008 Price Target: 12-Month S$ 1.07 By: Wee Lee Chong +65 6398 7971 Story: Epure announced that it has won RMB257m worth of consolidated EPC contracts for wastewater treatment systems in the past months in China. The contracts are secured and being finalised for signing. These latest batch of contracts win can be broken down into: 1) Four industrial contracts (one in Tianjin and three in Tangshan), worth RMB55m. Target completion dates are in 4Q 2008, and 2) Three municipal contracts (one in Ezhou and two in Hubei), worth RMB202m. Target completion dates are in the 4Q 2008 to 1Q 2009 periods. Point: We believe that this order book update should alleviate concerns on its lack of new order news flow y-t-d in 2008. Epure's current order book is RMB435m, which implies that about RMB178m orders were carried forward from 2007. Our net profit projection stays at RMB275m in FY08, assuming RMB900m new orders win in 2008. This latest batch of contracts also reaffirms our view that the lack of news flow till last week is a matter of timing issue, especially when Epure has the habit of announcing new contracts win in batches (vs. individual contract announcements). Given China's increasing focus and stricter rules on environmental issues, and Epure¡¯s position as one of the more recognised EPC player for wastewater treatment systems in the PRC, we are anticipating more orders flow in the months ahead. Relevance: Our fair value for Epure is S$1.07, after adjusting for its recent 1-into-3 shares split, and using 25x FY08 PE. We reckon that Epure deserves the scarcity premium as one of the few fundamentally performing SGX-listed water play. Epure has also declared net dividend of 2 Scents per pre-split share for FY07. On a post share split basis, the net dividend per share is about 0.07 Scents. Maintain BUY.Even better is Epure is going to pay 0.08 cents ex date 18May...payable 29May..evidence of its cash on hand status unlike other S chip and with contracts worth >1 $ Billion,Epure is set to soar so don't miss the boat |
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freeme
Elite |
08-May-2009 19:32
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haha epure is a strong player in water play. Worth buying. But i have to correct you, sino env is nt yet collapse lo.. haha
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787180
Master |
08-May-2009 15:22
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unlikely to drop to 35.5cts anymore....this EPURE is for the orphan,widow,widower,etc...no need to check screen everyday ,just buy and keep ,will be richly rewarded. EPURE INTERNATIONAL LTD.
(Incorporated in the Republic of Singapore on 7 November 2005)
(Registration Number 200515422C) By Order of the Board
Submitted by Choo Beng Lor, Company Secretary on 8 January 2009 to SGX-ST About Epure International Ltd.
In 2007, Epure was named one of the 10 Most Influential Water Companies in China and the Top 10 EPC Companies in China’s water industry. Non-executive chairman Wen Yibo ranked second among the 10 Most Influential People in the industry. PROPOSED SHARE BUY-BACK MANDATE Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meanings as ascribed to them in the Company’s announcement of 7 January 2009. The Board of Directors of Epure International Ltd. (the "Company") wishes to clarify the following matters relating to the announcement made on 7 January 2009 in relation to the above subject matter as follows: The Company has not obtained approval from the SGX-ST for the Proposed Share Buy-Back Mandate. Instead, the SGX-ST has issued clearance for the Circular. Accordingly, the announcement title should read "Proposed Share Buy-Back Mandate". Epure is one of China’s leading turnkey water & wastewater treatment solutions providers. Backed by extensive R&D and technical expertise, it has successfully completed many award-winning projects. The Group develops proprietary technologies and customises them into effective turnkey solutions for industrial and municipal projects. It has a strong marketing network in China, where it is much sought after for its strong design and engineering project management capabilities. In 2006, Epure diversified into the management of water treatment plants. It is also looking to co-invest in BOT (build-operate-transfer) and TOT (transfer-operate-transfer) projects. The Group plans to expand into other parts of the supply chain, orchestrating the entire eco-protection process as it becomes a fully integrated services provider. Epure has clinched two DBO (design-build-operate) projects that will propel the Group into the top league of a minority in China that can provide total water and wastewater treatment solutions under one roof. International Finance Corporation, the World Bank arm that promotes socially and environmentally sustainable private-sector investments, is a substantial shareholder. For further information, please contact:
Mr Yan Xiao Lei of Epure International Ltd. at +86-10 6050 4710
or e-mail yxl@epure.cn Mr Choo Beng Lor of Epure International Ltd. at +86-10 6050 4711 or +65 6272 6678
or e-mail zml@epure.cn |
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787180
Master |
08-May-2009 14:32
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It's time to buy Epure with dividend $8 per 1000 shares ex date 18may,i ensure before or after this date it will soar again,ever hit a high of >$2.This counter is tightly held by Asean Finance Corp and hence limited scripts in play,when it moves then U'll realise its potential.Hovering around 30-35cts since Jan 2009,at this price of 47cts still OK to load up.Last year 1 for 3 stocksplit is to ehance its liquidity,strong buy.Very few waste treatment plant in PRC with collapse of Sino-E,this is definitely a good stock to keep
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AK_Francis
Supreme |
14-Jan-2009 16:28
Yells: "Happy go lucky, cheers." |
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Ha, had cleared 10lts at 0.29 for kopi $. Keep d other half for new budget annoncement loh. If near weekends drop again, may buy back some for luck next week.
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AK_Francis
Supreme |
12-Jan-2009 11:50
Yells: "Happy go lucky, cheers." |
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Nonetheless, had q for acc ds morning. Didn't aim 4 far, got kopi $ b4 CNY, chow liao. Its last AGM was on 20 Feb 08. Last FY gave 0.0343 cts for div. Ha ha, 03; 43 toto no. for 10m. but likely 30 winning tickets. Last yr 26 shares. Ds yr more buyers as economy plummet. Recommended hot spot for Q, If not mistaken, Yishun, Ave 4. Ask for Ah Lian's teller. Must go early, if she go toilet, luck declines liao. Cheers.
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des_khor
Supreme |
12-Jan-2009 11:32
Yells: "Tell me who is the God or MFT from this forum??" |
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U see the fortune teller say will go up to 0.78... now 0.30 only !!
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AK_Francis
Supreme |
08-Jan-2009 22:25
Yells: "Happy go lucky, cheers." |
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Likely, basing on its results upon coy's announcement, if earlier.
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potomoto
Member |
08-Jan-2009 21:55
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what will be a good selling price for Epure before CNY? 0.310 able to hit? |
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nickyng
Supreme |
30-Sep-2008 16:08
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as we speak...it is now 40cts !! wowoWWow! :D | ||||
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busybody
Member |
30-Sep-2008 14:46
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If it's really because of margin call, it is worth to buy. I think its fundamental and business nature is ok. Any comment? | ||||
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nickyng
Supreme |
30-Sep-2008 14:41
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margin call ???? | ||||
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busybody
Member |
30-Sep-2008 14:29
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Does anyone know what happen to Epure today? Why did the price drop by so much? | ||||
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twdan8866
Member |
14-Jul-2008 09:50
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open at $0.615 up to $0.660 now at $ 0.590 . still can go in ?? | ||||
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zhuge_liang
Supreme |
01-Jul-2008 01:20
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CIMB starts Epure International at Outperform with $0.78 target, based on 15X FY09 P/E. Says China-based turnkey water treatment specialist has outstanding orderbook of CNY1.2 b, to be recognized over FY08-10, underpinning house's revenue CAGR forecast of 28% over that period; "we are optimistic of more EPC wins in 2H08, on the back of affiliate Beijing Sound Environment Group's strong momentum." | ||||
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