Ntegrator Enters Peru Market with US$5.5-million Telco Contract
Ntegrator International Ltd, a leading regional communications network specialist and systems integrator, Monday announced that it has expanded its presence to South America with a maiden contract win in Peru.
The US$5.5-million (S$7.0-million) contract is awarded by Ntegrator’s repeat customer, Viettel Global Investment Joint Stock Company, for the delivery of ECI Telecom’s Dense Wavelength Division Multiplexing equipment to its subsidiary in Peru – Viettel Peru S.A.C.
This latest contract comes on the back of seven new contracts worth a combined S$7.5 million, which were announced in March 2012. Together, these contracts have brought the total value of Ntegrator’s contracts secured in the year-to-date to S$14.5 million, all of which are scheduled to be completed within the financial year ending 31 December 2012 (FY2012). Ntegrator said they are expected to contribute positively to the group’s earnings in FY2012.
This is also the second new market contract Ntegrator has secured from Viettel, one of the group’s key customers in Indo-China since 2002.
Jimmy Chang, Managing Director of Ntegrator, said: “Moving forward, it is our strategy to work closely with our key customers and business partners to further extend our geographical reach alongside with their expansion plans. With the growing interest in Indo-China, in line with political liberalisation and focus on infrastructural developments including telcos, we are well-positioned to benefit from this anticipated strong business growth.”
Ntegrator International Ltd closed Monday at S$0.038.
Sembcorp Acquires Power Assets in China for US$85.5 million
Sembcorp Industries Monday announced that its wholly-owned subsidiary, Sembcorp Utilities, has signed a sale and purchase agreement with The AES Corporation to acquire part of its power asset portfolio in China for US$85.5 million (about S$106.0 million).
The acquisition includes a 49-per cent stake in four wind power assets owned through AES Huanghua, AES Hulunbeier Wind Power Co, AES Xinba’erhu Wind Power Co and AES Chenba’erhu Wind Power Co, as well as a 25-per cent stake in a coal-fired power plant owned through AES China Corp. The AES Corporation is a global power company listed on the New York Stock Exchange.
Commenting on the transaction, Tang Kin Fei, Group President and CEO of Sembcorp, said: “This acquisition strengthens our global energy portfolio and provides a platform to accelerate Sembcorp’s growth in the renewable energy sector. As a responsible energy player, Sembcorp aims to have a portfolio of high efficiency thermal and renewable power generation assets including a growing component of low carbon capacity. With this acquisition, our renewable energy capabilities will now include wind in addition to biomass.”
“We are excited about the growth prospects and immense opportunities that this acquisition will bring to Sembcorp. We now have our first wind power assets in China, an important foothold to tap into the fast-growing and largest wind power market in the world. At the same time, this transaction is set to further extend Sembcorp’s presence in China as an established energy and water player. With the inclusion of Inner Mongolia and Shanxi, we will have utilities operations in 11 provinces across the country,” Tang added.
Sembcorp said it will fund the acquisition through internal resources.
The transaction is expected to be completed in the second half of 2012 upon the satisfaction of certain conditions, including approval by China’s relevant authorities.
Sembcorp said the transaction is not expected to have a material impact on its earnings per share and net asset value per share for the current financial year.
Sembcorp Industries Ltd closed Monday at S$4.900.
XinRen Aluminum Warns of Loss for 1QFY2012
XinRen Aluminum Holdings Limited Monday announced that it expects to record a loss for the three months ending 31 March 2012 (1QFY2012), compared with a profit in 1QFY2011.
The group said the expected loss is due to the lower selling price of aluminium as well as higher electricity and alumina costs incurred for the production of aluminium products, compared with 1QFY2011. Another reason it cited was the decrease in sales volume for 1QFY2012.
This profit guidance is based on a preliminary review of the unaudited financial results of the group.
XinRen said further details of its performance will be disclosed when it finalises its unaudited financial results for 1QFY2012.
XinRen Aluminum Holdings Limited closed Monday at S$0.310.
Eratat’s Revenue Down 19.1 Per cent in 1QFY2012
Eratat Lifestyle Limited, a leading lifestyle footwear and apparel company based in Jinjiang, China’s Fujian province, Monday announced that net profit after tax fell 8.3 per cent to RMB34.3 million (about S$6.7 million) for the three months ending 31 March 2012 (1QFY2012), compared with RMB37.4 million in 1QFY2011.
But this was further reduced by an amortisation of renovation subsidy of RMB20.9 million incurred during the financial quarter under review.
Revenue during the period totalled RMB187.7 million, down 19.1 per cent from RMB231.9 million in 1QFY2011.
Eratat said the lower revenue was mainly due to a 47.1-per cent decrease in footwear sales to RMB59.3 million, though mitigated by a 7.1-per cent growth in sales of higher margin apparels to RMB128.4 million.
The overall lower revenue was also due to the renovation of some 370 existing shops to the upmarket ERATAT Premium shop image by the distributors, which had been anticipated when the renovation subsidy was mooted and at the time when the orderbook was confirmed. The revenue contribution proportions for apparel and footwear were 68.4 per cent and 31.6 per cent respectively in 1QFY2012, compared with 51.7 per cent and 48.3 per cent in 1QFY11.
Eratat noted that the retail consumer market remains challenging and competitive, but barring any unforeseen circumstances, it is optimistic about its financial performance in FY2012.
“Despite the tough challenges in our industry, I believe we are well-positioned to further expand our premium wear business and scale new heights,” Lin Jiancheng, Executive Chairman and CEO of Eratat Lifestyle, said.
Eratat Lifestyle Limited closed Monday at S$0.110.
Otto Marine Expects Loss on Foreign Exchange Volatility
Otto Marine Limited Monday announced that it expects to report a loss for the first quarter ending 31 March 2012.
It said the expected loss is due to the volatility in foreign exchange rates of the euro against the US dollar and the US dollar against the Singapore dollar.
Another reason it cited was that Reflect Geophysical Pte Ltd, in which the group’s wholly-owned subsidiary Otto Ventures Pte Ltd holds an approximately 81.6-per cent stake, has been going through operational consolidation and reorganisation. This has resulted in a loss mainly attributed to the lower utilisation of one of the seismic vessels ‘Reflect Scorpio’ and the demobilisation of two chartered seismic vessels back to the owners, leading to a one-off demobilisation cost.
This profit warning is based on a preliminary review of the unaudited financial results of the group.
Otto Marine said further details of its performance will be disclosed when it announces its unaudited financial results for the first quarter ending 31 March 2012 in due course.
Otto Marine Limited closed Monday at S$0.104.
CWT’s 1Q2012 Net Profit Soars 213 Per cent
CWT Limited, a leading provider of integrated logistics solutions for worldwide customers in the commodities, chemical and petrochemical, marine, oil & gas, defence and industrial sectors, Monday reported net profit attributable to owners of S$26.4 million for the quarter ending 31 March 2012 (1Q2012), up 213 per cent year-on-year.
Revenue totalled S$1.06 billion in 1Q2012, a 463-per cent jump from 1Q2011.
As at 31 March 2012, total assets and total equity for the group stood at S$1.77 billion and S$537 million respectively.
“The current announced results are generally in line with expectations,” said Loi Pok Yen, CWT Group CEO. “The group will continue to expand its global network and logistics capabilities along with the development and expansion of its trading and supply chain management business, and position CWT for continued leadership through operational excellence.”
CWT Limited closed Monday at S$1.205.
Kitchen Culture Wins S$11.0 million in Contracts for Singapore, Malaysia Residential Projects
Catalist-listed home-grown premium kitchen solutions provider, Kitchen Culture Holdings Ltd, Monday announced that it has clinched some S$11.0 million worth of contracts for the first four months of the financial year ending 31 December 2012 (FY2012).
The contracts were secured via two of its wholly-owned subsidiaries, KHL Marketing Asia-Pacific Pte Ltd and Kitchen Culture Sdn Bhd in Singapore and Malaysia respectively.
Kitchen Culture said it believes these contracts would strengthen its market presence in the region and looks forward to continue providing first-rate home and lifestyle brands and products that cater to market demands in Singapore, Malaysia and the region.
The contracts are expected to be delivered before or by the year 2014.
Among these is a RM15.9-million (about S$6.4-million) contract awarded by Ssang Yong Engineering & Construction Co, Ltd for the supply and installation of Poggenpohl kitchen cabinets for two blocks of high-end and luxurious service apartments in the development by Damansara City Sdn Bhd and located in Malaysia.
In addition, KHL Marketing was awarded a S$1.9-million contract from Shimizu Corporation to design, supply and install Poggenpohl kitchen cabinets and a S$0.5-million contract to supply and deliver Sub-Zero refrigerators and a freezer, for an exclusive and high-end 12-storey apartment building to be built at the junction of Stamford Road and North Bridge Road in Singapore.
KHL Marketing was also awarded a S$0.9-million contract by Thian Sung Construction Pte Ltd to supply and install Poggenpohl kitchen cabinets for iLiv@Grange, a freehold 16-storey designer residential apartment located at Grange Road and developed by Heeton Realty Pte Ltd.
Finally, KHL Marketing was awarded a S$1.2-million contract by Kim Seng Heng Engineering Construction (Pte) Ltd to supply and deliver Sub-Zero refrigerators and a freezer for Ardmore Three, a 36-storey prestigious residential apartment located at Ardmore Park and developed by Botanica Pte Ltd, a subsidiary of Wheelock Properties (Singapore) Limited.
With these new contracts awarded, the existing orderbook of the group’s residential projects segment as at 30 April 2012 stood at approximately S$48.8 million.