Yoma -LAUNCH OF NEW APARTMENT UNITS AT ACCLAIMED
STAR CITY – THANLYIN MYANMAR
Yangon, Myanmar, 21 November 2013 – Yoma Strategic Holdings Ltd., (“Yoma Strategic”) ( 祐 玛战略控股有限公司), a leading business corporation with real estate businesses in Myanmar, is releasing 433 new apartment units at its illustrious Star City residential development situated on a 135-acre site in Thanlyin Township in Yangon.
The exclusive residential units are available to the public for purchase on 23 November from 10am Yangon time, with simultaneous booking of units at three locations – Star City’s Singapore sales gallery, Yangon Thanlyin sales gallery, and the Mandalay Hill Resort Hotel in Mandalay.
“A large number of potential buyers are already on the waiting list for these very affordable newly-released apartments, and we expect a quick take-up rate since this is the last opportunity to purchase units in Zone B,” said Elmar A. Busch, Managing Director of Yoma Strategic’s real estate division. The new units are located in buildings B-3 and B-4, and are the last units available in Zone B at Star City. Zone B is the second phase of the estate which Yoma Strategic commenced construction on in April this year, and which it aims to complete by the first quarter of 2016.
Offering an unrivalled estate management programme in Yangon, Star City’s "community within a community" concept is the first of its kind in Myanmar, allowing
residents to avail themselves of a full range of features and services managed by Yoma Strategic’s estate management division. Leading commercial retail, restaurant, supermarket and bank operators have signed leases at Star City, and are expected to be operational in the next few months.
“We are delighted to be on our way towards completing the second phase of the development and to offer new units in Zone B at this time. The sale of these new units has been brought forward on the back of strong and rising demand far exceeding expectations,” said Mr. Busch. “All apartment units launched in Zone A have been sold out, with over 1,000 apartment units purchased in slightly over a year. Many homeowners have started moving in and the elegant and green environment of Star City is one of the focal points in this location which is approximately 25 minutes from downtown.”
Singapore “Flyer” of the Week: Biosensors International
By Sudhan P - November 22, 2013
A medical device company, Biosensors International Group Limited (SGX: B20), has stolen the Singapore “Flyer” of the Week accolade for gaining 9.9% this week, closing at $0.94 at the time of writing.
The company is involved in developing, manufacturing and marketing medical devices for interventional cardiology and critical care procedures like drug-eluting stents, bare metal stents and balloon dilatation catheters.
On 12th November 2013, the company released its second quarter of 2014 (2Q 2014) results. It saw a growth of 4% year-on-year to US$83.0 million, due to growth in product revenue offset by lower licensing revenue. However, the net profit plunged 60% year-on-year to US$11.3 million, mainly due to increases in operating expenses.
For the first half of 2014 (1H 2014), the company reported a revenue of US$159.7 million, a 4% decline from US$166.1 million in 1H 2013. This was mainly due to lower licensing and royalty revenue. The net profit was down 62% to US$23.4 million year-on-year.
As of 30th September 2013, the company had US$275 million of long-term borrowings. In the bank, it had US$512.3 million worth of cash.
Biosensors generated net cash from operations of US$20.2 million in 1H 2014 versus that of US$56.7 million in the previous year. This was a decline of 64%.
The market may have taken well to what Dr. Jack Wang, Chief Executive Officer of Biosensors, said about the future of his company. He mentioned, “Based on our recent approvals, we are working on multiple product launch plans to generate new revenues for the company. With the changing market conditions, management is implementing measures to enhance efficiency and improve profitability by restructuring its cost and operational compositions. We believe that the reorganization is necessary for us to better position ourselves to deliver our long-term goals.”
The company is trading at 11.2 times its historical earnings and has a dividend yield of 2.7%.
Falling Knife of the Week: Global Logistics Properties
By Sudhan P - November 22, 2013
Global Logistics Properties Limited (SGX: MC0), a constituent of the Straits Times Index (SGX: ^STI) fell 5.4% so far this week, to close at $2.96 at the time of writing. The company is a provider of modern logistics facilities in China, Japan and Brazil. Its properties are located across 62 cities, serving over 700 customers.
GLP released its second quarter of 2014 (2Q 2014) results on 14th November 2013. It saw a revenue decline of 19% year-on-year to US$140 million. The net earnings came up to US$145 million, a decrease of 26% year-on-year.
For the first half of 2014 (1H 2014), the revenue went down 19% year-on-year to US$277 million. The net profit, however, was flat at US$349 million. The revenue decline was mainly due to the sale of properties to GLP J-REIT, listed in Japan, and foreign exchange movements. The net profit was driven mainly by revaluation gains of US$242 million.
As of 30 September 2013, GLP had a net debt of US$1.5 billion and weighted average debt maturity was 4.7 years. The gearing ratio stood at 21.2%. Comparatively, Mapletree Logistics Trust (SGX: M44U) carries a gearing ratio of 34.4%.
GLP also launched a US$3 Billion China Logistics Fund on the same day of results announcement. The fund will be used to develop new, wholly-owned logistics development projects in China during the three year investment period
Jeffrey H. Schwartz, Co-Founder of GLP and Chairman of the Executive Committee, said, “We continue to make substantial operational progress across the company, thanks to strong demand in all our markets. The launch of our new China fund, the largest of its type in the world, is transformational for GLP. It will provide significant capital to support our sustainable long-term growth in this exciting market, while enhancing returns on our invested capital. Our strong development pipeline and best-in-class fund management platform will enable us to strategically scale our business while delivering superior risk-adjusted returns for our stakeholders.”
GLP is trading at a historical PE ratio of 17.4 and sports a dividend yield of 1.4%.
CNMC Goldmine - CLARIFICATION ON NEWS ARTICLE IN LIANHE ZAOBAO
The board of directors of CNMC Goldmine Holdings Limited (the “Company”, and together with its subsidiaries, the “Group”) refers to the news article entitled “中色金矿预计今年可生产 400 公斤黄金” on page 31 of Lianhe Zaobao on 22 November 2013 (the “Article”).
In relation to the contents of the Article, the Company wishes to provide the following clarification:-
It was stated in the Article that 400kg gold has a market value of RM120 million (which is equivalent to approximately S$47.1 million).
The Company would like to clarify that the market value of the 400kg gold mentioned in the Article should be approximately RM51.4 million (which is equivalent to approximately S$20.0 million), instead of RM120 million, based on the current gold spot price of about US$40,000 per kg (which is equivalent to approximately RM128,500 per kg).
By Order of the Board
Lim Kuoh Yang
Chief Executive Officer
22 November 2013
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