Inphyy Corner

Sarin: Hari Krishna Exports Of India To Have 12 Galaxy / Solaris Systems In-House

02 Jan 2014 17:24

Sarin Technologies Ltd is pleased to announce that in the quarter just ended Hari Krishna Exports Pvt. Ltd. Ltd placed orders for four additional systems, which will, upon completion of their delivery this month, bring to twelve the number of Galaxy and Solaris systems, of various models, they have in use, thus becoming the second customer to have over ten systems installed in-house...

sarin.listedcompany.com/newsroom/2014010...257C53003C971E.1.pdf

ASL Marine: PT. Capital Nusantara Indonesia Received Effective Letter From The Financial Services Authority Of Indonesia

The Board of Directors (the “Board”) of ASL Marine Holdings Ltd. (the “Company”) refers to the
previous announcements dated 25 October 2013 and 5 November 2013 in relation to the
proposed listing of an associated company on the Indonesian Stock Exchange (the “Previous
Announcements”).

Further to the Previous Announcements, the Board wishes to announce that PT. Capital
Nusantara Indonesia (“PT CNI”), in which the Company has a 36% equity interest, has on 31
December 2013 received the Effective Letter from the Financial Services Authority of Indonesia
(Otoritas Jasa Keuangan) which approves PT CNI to conduct an initial public offering of its
shares on the Indonesia Stock Exchange (the “Proposed IPO”).

None of the Directors or controlling shareholders of the Company has any interest, direct or
indirect, in the Proposed IPO other than through their shareholdings in the Company. The
Company will make further announcements in the event that there are material developments in
relation to the foregoing matter.

There is no certainty or assurance as at the date of this announcement that PT CNI will
complete the Proposed IPO. As such, shareholders of the Company should exercise care when
trading in the shares of the Company. In the event of any doubt, shareholders should consult
their stockbrokers, bank managers, solicitors, accountants or other professional advisers.

BY ORDER OF THE BOARD

Ang Kok Tian
Chairman and Managing Director
2 January 2014

aslmarine.listedcompany.com/newsroom/201...257C530081A2BD.1.pdf

RH PetroGas: Koi-2 Appraisal Well Reached Total Vertical Depth

The Board of Directors of RH Petrogas Limited (the “Company”) refers to its announcement (SGXNET
Announcement No. 5) issued on 2 December 2013 and would like to provide an update on the drilling of
the Koi-2 appraisal well (“Koi-2”) in the Salawati Kepala Burung PSC (“Island PSC”), Indonesia.

Located in shallow water depth of 32 meters, the well successfully reached its total vertical depth of 1,428
meters on 30 December 2013. During drilling of the Kais limestone, oil shows were observed from cutting
samples. As a result, two conventional cores with total length of 50 feet were cut from the well. Both cores
encountered oil shows. Logging operation is currently being carried out and production testing will follow if
log analysis confirms the presence of hydrocarbon zones.

The Company through its wholly owned subsidiaries Petrogas (Island) Ltd. and RHP Salawati Island B.V.
has an aggregate 33.21% working interest in the Island PSC. The Island PSC covers an area of 1,097
km2
. The other partners in the Island PSC are PetroChina International Kepala Burung Ltd. (16.79%) and
PT Pertamina Hulu Energi Salawati (50%). The Island PSC is operated by JOB Pertamina-PetroChina
Salawati, which is a joint operating body formed between Pertamina and PetroChina. The consortium, as
contractor of Indonesian government operating under the supervision of SKK Migas (Satuan Kerja Khusus
Minyak dan Gas), has actively explored and produced oil and gas in the working area.

Oil and gas exploration, development and production are expensive, high-risk and complicated operations.
Shareholders and investors are advised to exercise caution when dealing in the shares of the Company.

BACKGROUND
RH Petrogas Limited (“RHP”) is an independent upstream oil and gas company headquartered in
Singapore. RHP is listed on the mainboard of the Singapore Stock Exchange and is focused on
exploration, development and production of oil and gas deposits. RHP has producing, development and
exploration blocks in Indonesia, China and Malaysia.
RHP aspires to be a leading independent oil and gas company in the region and is actively looking for
further growth opportunities in the sector.

BY ORDER OF THE BOARD

Francis Chang
Group CEO & Executive Director
2 January 2014

rhpetrogas.listedcompany.com/newsroom/20...257C530080B7B0.1.pdf

Would Warren Buffett Buy StarHub?

By David Kuo - January 3, 2014

Over the years, Warren Buffett – arguably the greatest investor in our lifetime – has openly discussed his personal style of investing. So much has he revealed about himself that it is almost possible to categorise the numerous shares in the stock market into those that he would warm to and those that he wouldn’t touch with a bargepole.

So how would StarHub (SGX: CC3) figure in Buffett’s estimation?

Warren Buffett likes stocks that have stable earnings. This is an attribute that StarHub exhibits in spades. If anything, earnings at the telecom company might even be a bit too stable. Over the last five years, net income at Singapore’s second-largest telecom company has been clustered around S$310m with a low of S$263m and a high of S$359m.

StarHub also exhibits a reasonably high margin, which is another of Buffett’s likely selection criteria. Its Net Income Margin of 15% is on a par with other Singapore blue chip stocks. It implies that StarHub could generate $15 of bottom-line profit for every $100 of top-line sales. By comparison, the average Net Income Margin for the 30 companies that make up the Straits Times Index (SGX: ^STI) is 19%.

Unsurprisingly, Buffett likes efficient companies. In other words he likes companies that can sweat their assets effectively. In that regard StarHub might be considered quite well organised. Its Asset Turnover of 1.4 is nearly three times better than the market average. It suggests that the telecom provider is able to generate $1.40 of sales for every dollar employed in the business. Singapore’s largest telecom company, SingTel (SGX: Z74), in contrast, generates around $0.50 for every dollar of asset.

Another of Buffett’s selection criteria is low specific stock volatility. Put another way, he tends to look for companies with low specific stock risk. That is a fancy way of saying he doesn’t mind stock volatility provided it is due to macroeconomic factors. StarHub’s share price volatility is 16%. The average volatility for Singapore blue chips is 18%, and Buffett’s favourite stock, Coca-Cola (NYSE: KO), has a share price volatility of 15%.

Buffett is not a huge fan of companies that are exposed to macroeconomic risk. In other words he is unlikely to be enamoured by businesses that use excessive borrowings, which could make a company vulnerable to interest-rate hikes. StarHub is highly leveraged. Its Leverage Ratio of 41 is over 20 times higher than the market average.

On balance, StarHub is unlikely to appear on Buffett’s radar. It scores well on a number of measures but it might need to cut its debt burden significantly to appeal.

Courtesy of The Motley Fool

Singapore “Flyer” of the Week: Nam Cheong

By Sudhan P - January 3, 2014

Offshore marine outfit, Nam Cheong Limited (SGX: N4E), gained 13.8% so far for the first week of 2014, making it our Singapore “Flyer” of the Week. It closed on $0.33 on Thursday.

Nam Cheong is Malaysia’s largest Offshore Support Vessel (OSV) builder and is the second largest OSV shipbuilder east of the Suez Canal. The company is also involved in ship chartering, which was started in 2007 to diversify her business.

On the second last day of 2013, the firm announced that it had set a new record high in vessel sales with its latest contract wins, totaling US$66.0 million. Nam Cheong sold three Anchor Handling Towing Supply Vessels to its jointly controlled entity, PT Bahtera Niaga Indonesia and one Maintenance / Work Vessel to a subsidiary of a repeat customer, Icon Offshore Berhad.

All four vessels are being constructed in subcontracted yards in China and they are scheduled for delivery this year.

For 2013, the company had total sales of 24 vessels, which surpassed the record high of 21 vessel sales set in 2012.

The company also went on to say that the sales of the four vessels will contribute positively to FY2013 and FY2014 earnings.

Mr. Leong Seng Keat, Nam Cheong’s Chief Executive Officer, is “optimistic of an exciting 2014 ahead”.

The company is trading at a historical PE ratio of 9.5 and has a dividend yield of 1.5%.


Courtesy of The Motley Fool

Falling Knife of the Week: CSE Global

By Sudhan P - January 3, 2014

CSE Global (SGX: 544), a global technologies company, fell 28.6% so far this week, closing at $0.75 on Thursday. S$154.8 million is market capitalisation was wiped off in the span of three days.

The company provides cost effective and integrated solutions to industries in the automation, telecommunications and environmental sectors. It has international presence in areas such as the Americas, Asia Pacific and Europe. More than 95% of the revenue is generated outside Singapore’s shores.

On 27th December 2013, the company announced that its subsidiary, CSE-Hankin (Singapore) Private Limited, had subscribed to 1,000 new preference shares with a par value of US$1,000 each in its wholly-owned subsidiary, CSE-Hankin Inc. This totals up to US$1 million. The transaction was funded by internal resources of CSE Global.

The company also went ex-dividend on Monday, 30th December 2013. It paid out 28.0 Singapore cents per ordinary share as special dividend from the divestment of Servelec Group PLC, an operation in the United Kingdom.

The company is now trading at a historical PE ratio of 8 and has a dividend yield of close to 6%.

Courtesy of The Motley Fool