Inphyy Corner

Synear: To Be Delisted On 16 December 2013

13 Dec 2013 09:36

Synear Food Holdings Limited wishes to announce that the Singapore Exchange Securities Trading Limited has confirmed that the date of delisting of the Company from the Official List of the SGX-ST will be 16 December 2013. Accordingly, the Shares will be delisted from the Official List of the SGX-ST with effect from 9.00 a.m. on Monday, 16 December 2013...

synear.listedcompany.com/newsroom/201312...257C3F0033D384.1.pdf

Blumont - UPDATE ON DISPUTE WITH PROSPECT RESOURCES LIMITED

Terms defined in the announcement by Blumont Group Ltd. (博诺有限公司) (the “Company”) dated 11 July
2013 on the proposed subscription for 325,000,000 new shares in Prospect Resources Limited (the
“Issuer”) shall bear the same meaning in this announcement unless otherwise defined here.

The Company refers to its announcement dated 2 December 2013 on the announcement by Prospect
Resources Limited (“PSC”) that it has commenced court proceedings (the “Proceedings”) in the Supreme
Court of New South Wales against, among others, the Company.

The Company wishes to inform shareholders of the Company (“Shareholders”) that it has been served
with the court papers in relation to the Proceedings and is seeking legal advice on the same. The
Company maintains that the Termination Notice is valid and intends to vigorously defend its position in the
Proceedings.

The Company will update Shareholders as may be required by making the appropriate announcements at
the relevant time.

By Order of the Board
Blumont Group Ltd.

James Hong Gee Ho
Executive Director
13 December 2013

Linc Energy to Relist on SGX

By James Yeo - December 13, 2013

The Singapore Exchange (SGX: S68) has been attracting a steady flow of new listings from the oil and gas exploration (E&P) sector due to a recent move to re-evaluate SGX listing rules to make it more attractive for such companies to float their shares. Some listed companies in this space include Interra Resources (SGX: 5GI), Loyz Energy (SGX: 594), and RH PetroGas (SGX: T13).

The latest to be attracted to the Singapore’s capital market is Linc Energy. Previously listed in the Australian Securities Exchange, Queensland-based oil, shale and coal company Linc Energy (LNC) is calling SGX home now as a move to broaden the investor base and tap the growing demand for oil and gas resources in Asia.

Linc Energy is a diversified energy company with three business divisions: Conventional Oil And Gas, Unconventional Oil And Gas, Coal. It also owns a significant portfolio of various oil, gas and coal assets and proven UCG technology ready for commercialization. The IPO is launched on 12 Dec at an offering price of S$1.20 each and Linc Energy expects to raise net proceeds of about S$57.4 million through the sale of 47.85 million shares.

Based on its prospectus, Linc Energy is panning out its growth story to potential investors based on 2 key points:

1) It owns high quality, low risk, oil levered production with an estimated reserves valuation exceeding US$4.6 Billion.

2) They believe that Linc Energy is the only company in the world to have utilized the UCG technology to produce diesel and jet fuel, which provides them with a first mover advantage.



On the other hand, investors should be aware of the pertaining risk factors too. Similar to the previous 2 listed E&P companies, KrisEnergy (SGX: SK3) and Rex International (SGX: 5WH), Linc Energy is still making losses despite its revenue growing at an aggressive pace.

Furthermore, exploration and development involves numerous risks and substantial and uncertain costs that may not yield desired results, resources or reserves for the company. These flops may result in substantial losses and unforeseen interruptions to Linc’s operations.

Potential investors can take heart that the IPO has garnered strong support from major Malaysian conglomerate Genting as a cornerstone shareholder. In addition, Peter Bond, CEO of the firm, has aligned interests with the shareholders to grow the company with his almost 40% stake in Linc Energy. Nevertheless, it is important to perform due diligence on any company alike, in order to understand what you are investing in.


Courtesy of The Motley Fool

Falling Knife of the Week: AusGroup Limited

By Sudhan P - December 13, 2013

AusGroup Limited (SGX: 5GJ), fell 20% thus far this week, making it steal the spot for Falling Knife of the Week. The shares last exchanged hands at $0.20.

AusGroup is involved in the marine and offshore drilling sector. The main business of the firm is to provide subcontract services to the oilfield equipment manufacturing companies in the South East Asia region through its fabrication and machining facility in Singapore.

In the middle of last month, the company, during its first quarter of 2014 results announcement, mentioned that it had “breached covenants under its banking facility agreements, as a result of the impact of the lower Earnings before Interest Tax Depreciation and Amortisation (EBITDA) on its various ratios”.

On Tuesday and Wednesday this week, AusGroup made an announcement that it has fully repaid its senior debt facilities and has cash-backed all bank guarantee facilities with the banks of Australia & New Zealand Banking Group Limited and HSBC Australia Pty Ltd. The company is currently in discussion with the banks to resolve all breaches on lending covenants and limit the banks’ security over AusGroup’s assets to the cash that remains on deposit to support the existing facilities.

The company also added that it has sufficient cash to meet daily operational needs over and above that used to back all its guarantees.

AusGroup is currently trading at 8.5 times its FY2013’s earnings.


Courtesy of The Motley Fool

Singapore “Flyer” of the Week: Colex Holdings

By Sudhan P - December 13, 2013

Waste management company, Colex Holdings Limited (Catalist: 567), rose 8.8% so far for the week, closing at $0.186 yesterday.

Colex Holdings Limited operates Colex Environmental Pte Ltd, which has more than three decades of track record in waste disposal services. It currently has a 7-year, S$139.8 million public waste collection contract for the Jurong sector that started in April 2013.

Colex Holdings belongs to the Industrial Division of Bonvest. Bonvests Holdings Limited (SGX: B28), which owns 78.9% of Colex Holdings, announced early last month that for its third quarter of 2013 results,

“Revenue for the Industrial Division of S$13.211 million for 3Q2013 increased by 16.3% from S$11.362 million for 3Q2012 mainly due to rollover effect of existing contracts, new contracts secured and contracts renewed at higher rates during 3Q2013. Segment profit of S$0.851 million for 3Q2013 increased by 30.3% from 3Q2012 profit of S$0.653 million mainly due to the increase in revenue and enhanced Special Employment Credit. The Industrial Division will continue to face challenging market conditions.”

Other waste management companies listed in Singapore Exchange include 800 Super Holdings Limited (SGX: 5TG) and Sembcorp Industries Limited (SGX: U96). 800 Super Holdings Limited operates 800 Super Waste Management Pte Ltd and Sembcorp Industries Limited operates SembWaste Pte Ltd. A fourth company, Veolia ES Singapore Pte Ltd, is not listed. SembWaste Pte Ltd is currently the largest solid waste management provider in Singapore serving five out of nine geographical sectors (a 56% market share).

Currently, Colex Holdings is trading at a historical PE ratio of 10.1 and has a dividend yield of 2.7%.

Courtesy of The Motley Fool