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(Post 1 of 277) 11/12/1999.10:15:00 |
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Manufacturing Integration Technology secures Singapore listing approval SINGAPORE (AFX-ASIA) - Manufacturing Integration Technology said it has received in-principle approval to list on the mainboard of the Stock Exchange of Singapore. Established in 1992, the company designs, develops, manufactures and distributes semiconductor testing and packaging equipment. Over the last five years, the group's tunrover rose from 6.10 mln sgd in 1994 from 31 mln sgd in 1998, while operating profits incresed from 900,000 sgd to 5.50 mln sgd over the same period. The IPO is lead managed and underwritten by Overseas Union Bank. |
| (Post 2 of 277) 11/23/1999.12:15:00 |
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Manufacturing Integration Tech sees higher net margins in 2000 SINGAPORE (AFX-ASIA) - Manufacturing Integration Technology Ltd said it expects higher net margins next year as it introduces new semiconductor equipment testing products. Company executive director Christina Kwong said net margins could rise to almost 20 pct next year from 15-17 pct currently with the launch of the new products. The company currently produces back-end semiconductor testing equipment and is developing front-end equipment, which it intends to market next year. The company did not give a profit forecast for next year. It expects a net profit of 5.50 mln sgd in 1999 compared to 5.40 mln in 1998, while turnover is expected to rise to 35.30 mln sgd in 1999 from 30.98 mln in 1998. Company managing director Tony Kwong said net profit growth this year will be flat despite the substantial increase in turnover due to higher research and development expenses to develop the new front-end semiconductor testing equipment. "We have focussed a lot of attention to R&D ... This affects profit and margins," he said. The company spends 10-15 pct of its turnover to finance R&D costs, he said. He said the proposed acquisition of a precision engineering company will also contribute to profitability in the second half of 2000. The acquisition will cost 4.0 mln sgd and will be financed using IPO proceeds. It will also give the company in-house capabilities to manufacture components for its semiconductor equipment. Kwong said 90 pct of components for these equipment are manufactured for the company by third parties. Manufacturing Integration earlier announced it had launched an initial public offer of 55 mln new shares at 0.56 sgd each. Richard Tan, senior vice president of IPO lead manager Overseas Union Bank, said the offering is attractively priced at 17.50 times prospective 1999 price earnings ratio. Its closest competitor ASTI Holdings was trading at over 25.0 times forecast P/E ratio, he said. The placement tranche of the IPO has been fully taken up, he said. |
| (Post 3 of 277) 11/29/1999.22:07:00 |
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Mfg. Integration Tech (Vickers Ballas - 29/11/99) 1. Committed to R&D, offers complementary processes In its quest to develop next-generation complementary semiconductor back-end manufacturing as well as a front-end process, MIT will invest aggressively in R&D while tapping on overseas talent and partnership. Encapsulation of smaller semiconductor packages and die-attach processes can be assimilated to offer more feature-rich and efficient semiconductor back-end processes. Given key management's accumulated 58 years' experience and track record, we anticipate successful product launches. 2. Strong relationship with Europe's top 2 semiconductor manufacturers, widening customer base It maintains healthy relationship with Infineon Technologies and STMicroelectronics, which are ranked top 10 global players. High revenue exposure to these customers is mitigated through continuous diversification of customer base. 3. Exposure to exciting semiconductor industry Semiconductor Industry Association's upward revision to a sharper 21% revenue growth in global semiconductors in the year 2000 will sustain optimism in the sector. Applying a discount to ASTI's target PE of 22x, we recommend near-term target of S$0.71 or 20x FYDec00 earnings, and 12-month target of S$0.93 for longer-term investors. |
| (Post 4 of 277) 12/06/1999.06:43:00 |
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Singapore Mfg Integration IPO Retail Oversubscribed Singapore Manufacturing Integration Technology Ltd.'s initial public offering of 5.5 million shares to retail investors was 182.4 times subscribed, lead manager Overseas Union Bank Ltd. said Friday. The company is offering 55 million shares at 56 Singapore cents each, of which 49.5 million shares were set aside for institutional investors. Of the 49.5 million shares, 5.5 million shares were set aside for employees and business associates. The mainboard-listed company will debut on the Singapore Exchange Monday. |
| (Post 5 of 277) 12/06/1999.11:01:00 |
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Manufacturing Integration Technology higher vs IPO price Manufacturing Integration Tchnology was higher against its IPO price in early trade, dealers said. However, they added its upside would be limited because the IPO price was close to fair value. MIT offered a total of 55 mln new shares in its IPO, including 5.5 mln public offer shares, 44 mln placement shares and 5.5 mln reserved shares. The company, which provides equipment for the back-end processes of semiconductor devices, is forecasting a net profit of 5.5 mln sgd in the current year on turnover of 35.3 mln. In 1998, the net profit was 5.40 mln on turnover of 30.98 mln sgd. Of net proceeds of 29.4 mln sgd, about 20 mln will be spent on developing and investing in semiconductor-related technologies. An analyst with a local broking house said the debut was much as he expected as he said the IPO price was close to fair value. "I don't see much more upside for the stock in the short term," he said. The low profit growth this year, due to the continuing slowdown in the semiconductor industry which did not turn around until the second half of the year, is likely to rise to 18 pct next year. Six new products are scheduled for release next year, and these should help drive earnings growth, he said. Vickers Ballas analyst Eddie Tan said he sees fair value for MIT at 0.71 sgd. He said he had a subscribe recommendation on the stock and has a 12-month target of 0.91. "It really looks like the IPO sentiment is waning," he said of the debut performance. He added that the company has similar products to ASTI Holdings Ltd but has less brand equity, with, for example, a smaller base of intellectual property. However, MIT has a credible growth strategy for development of its technology, using IPO funds and government grants. "They are following what the industry is doing," Tan said, adding that he believes the company is planning to bring some European professionals to help the development process. MIT is capable of beating the industry average growth rate by increasing earnings about 30 pct next year, Tan said. |
| (Post 6 of 277) 12/20/1999.21:57:00 |
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Pay some attention to this counter. Have strong fundamental. Upside nearterm $0.9 Mid term >1.00 will f/u with more detail shortly |
| (Post 7 of 277) 12/11/1999.08:34:00 |
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Juz a word of caution on this counter. Speaking to the brokers, they were saying tat the tgt price was $0.84 and it was reached yesterday. The qn is will they push it further with the flavor of the month being contract mfger....and of coz the bullishness of the STI. For ur perusal. |
| (Post 8 of 277) 12/13/1999.10:53:00 |
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MIT price continue to rise[>$0.87] supported by healthy vol. now looks like it is going to break $0.90 by lunch and the next target is $0.95 by end of day I repeat again this is a fundamentally strong co. well supported by EDB |
| (Post 9 of 277) 12/28/1999.13:06:00 |
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The immd. target is $1.00. It is in the class of JIT, Omni, Datapulse and other strong electronics counters. It wont b long b4 it break $1.00. A mid & long term counter. |
| (Post 10 of 277) 12/29/1999.22:05:00 |
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As expected MIT surged pass $1.00 b4 the end of the day! This counter is now in unchartered water! Profit taking may pull the px back by 5-10pct. b4 the climb resume. Buy on dip and trade with a mid & long term view! |
| (Post 11 of 277) 12/30/1999.11:45:00 |
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Px go above $1.10.... Trade cautiosly now.. |
| (Post 12 of 277) 01/03/2000.10:09:00 |
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Momentum still strong,px crossed $1.15! Once again trade carefully. |
| (Post 13 of 277) 01/04/2000.01:20:00 |
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Wow, can't believe my eyes!!! Px shot pass $1.25 without much resistance. Correction is bound to happen tommorow! Good luck to those who bought at hi px . |
| (Post 14 of 277) 01/04/2000.01:22:00 |
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Wow px just shot pass $1.25. Correction cud happen tomorrow in view of weak US indices. Good luck to those who bot. |
| (Post 15 of 277) 01/04/2000.12:33:00 |
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It shot up to $1.36 this am! Corrections is pulling the px back to <$1.3. It is a matter of time b4 the px surge resume again.Riding this counter correctly cud make one a wealthy man,,,,be cautious though!!! |
| (Post 16 of 277) 01/05/2000.12:36:00 |
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Px may drop below $1.00 if DJ & Nasdaq continue to slide tonite. Short selling and profit taking will lead the retrace. Good opporty. to collect if px drops to $0.85 or lower. Trade within ur means. |
| (Post 17 of 277) 01/05/2000.12:47:00 |
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Hi, Administrator : is it possible to merge Manufacturing Integration Technology and MIT topics together. |
| (Post 18 of 277) 01/05/2000.13:02:00 |
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Xwzou thks for highlighting. Have closed one and moved the all information to this position, will sort out the posting order of message after the mkt. |
| (Post 19 of 277) 01/06/2000.00:16:00 |
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Px remained firm despite sharp drop in nasdaq. With further drop in nasaq ,the px may soon drop below $1.00.As mentioned previously, collect below $0.85 for mid & long term.Let us see what is going to happen tomolo. |
| (Post 20 of 277) 01/07/2000.15:18:00 |
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ACHTUNG!!!!!!!!!! 6 sense tells me that this counter cud b heavily shorted next week. Chances is px cud drop below $0.9. Stay alert and act accordingly{both directions}. It is better to b safe and saved, not blurred and burnt.Take care and trade within ur means. |
| (Post 21 of 277) 01/09/2000.10:49:00 |
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DJ and nasdaq mad surge on Fri inevitably wud push the px on the coming Mon to dizzy height!!! This does not meant the shorting is a non event. Worst still assume the counter px surge to say above $1.55{highly probable},the probabilty of this counter being shorted {later in the week, say Wed/Thur}will be even higher. Act on over and under shoot pricing --for safety play,,otherwise ride the roller-coaster{ both directions} if u like the thrills and spills. Trade with xtreme care!! |
| (Post 22 of 277) 01/09/2000.16:53:00 |
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Looking forward to how this counter perform on Mon. Fundamentally good and large Vol. Furthermore, with the semiconductor industry performing well, I dun see why this counter cannot have further upside. Cheers....... |
| (Post 23 of 277) 01/09/2000.21:47:00 |
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Never Buck the Trend Never try to buck the trend. If you miss the market, it is OK. Did you see how DOW JONES recovers the last 3 days. Can you imagine trying to short MIT at it's all time high of SGD1.36. What if the NASQAD recovers and better still breaks new record like NYSE. Could MIT be trading like PCI(1.50) or GES(1.72)???. Everyone is talking abt TECHNOLOGY STOCKS, if you are not convince, then AVOID it never never SHORT it. |
| (Post 24 of 277) 01/09/2000.22:32:00 |
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Beware of any force selling MIT volume have been decreasing for the past 1 week from 22491 lots on Monday to 5401 lots on Friday. If a lot of people unable to pick up the share, MIT might encounter force selling in the coming week. MIT don't look good unless volume improve in the next 2 days. It could retreat to $1.00 presenting a phsycological support. Same for Kingboard, Eastgate, Cirplus, Seksun, Allgreen, SFI & Raffles Holding which saw a decrease in volume. First time giving opinion here, any comments? |
| (Post 25 of 277) 01/10/2000.09:24:00 |
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Withsuch momentum the px bound to overshoot!!! Strategy is---fast in fast out. Dun hold too long. Better still sit there and just watch.--its free! |
| (Post 26 of 277) 01/11/2000.01:22:00 |
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Px remained unchanged at $1.23 at closing with relatively low vol. changed hand. Concern that this counter px is over value and being shorted is taking its toll on the px and volume. With DJ & Nasdaq moving higher tonite, tomolo trading pattern cud be a carbon copy of today, except that the spread cud be wider. An ideal scenario for day traders. Pick up a few lots and try ur luck, but dun get carried away though. |
| (Post 27 of 277) 01/11/2000.01:47:00 |
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I am just wondering if the US markets are facing the same dilemma as us, as in worries over potential force-selling. After all, didn't the Dow and Nasdaq go through a rough patch earlier as well? Afterall, we did mirror the US markets for sometime now. I'll say it again.... if we worry that the STI will succumb to force-selling pressure on Tue and Wed, wouldn't the US market have the same worry? It doesn't so to me at this point in time. Having said that, it is never unwise to always prepare for the unexpected. Gee, I think I am getting more adept at double-talk ;) |
| (Post 28 of 277) 01/11/2000.14:20:00 |
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Volume and px continue to dwindle!!!!!! The story is written all over the wall. Standby and watch 4 more action in the next 3 hrs. |
| (Post 29 of 277) 01/15/2000.18:07:00 |
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I was proven wrong!!Nothing serious done to this counter, except for the big drop in its trading vol. Coming week, it will b wise to try to buy a little with a cut loss protection and sell at 10-15% profit as I am now believe there wud b a mini surge towards mid week.--due to the cotinuos srength seen in DJ and nasdaq in the last few days./. But to be on the safe side, I wud rather choose Sunright as far as tech counter is concern---see my posting under S/R. for more info. Take care and stay......... WHEALTHY, |
| (Post 30 of 277) 01/17/2000.23:58:00 |
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Urgent Notice: The price of MIT share will up 20-30% in next two weeks.the take-off line around 10day movement average,about SGD1.17-1.18.The main force will come back. Pay close attention to tech graph,especially for KDJ,RSI.And MIT is not a technology stock,it is a semiconductor stock.DO you know what is prototype machine?I say MIT better than STATS if you read MIT prospectus very closely.how much for STATS? IPO about SGD2.33,open price may be 5-6 dollar. Which one do you want to choice? My capital of MIT is SGD0.78 per share. if price not up to 2.00,I won't sell.Buy it and hold. Good luck for everyone. |
| (Post 31 of 277) 01/18/2000.11:09:00 |
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MIT is going to a moment when it's fate hangs in the balance now.800 lots big sell during this morning.think:who bought these lots at 1.18 and why.Compare to STI,already drop 250 points from peak.Think!!! |
| (Post 32 of 277) 01/18/2000.22:24:00 |
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10days movenent average broken,the lifeline of MIT.What will we do?sell? No! this is a bear trap. 4000 lots big sell in today's transaction volume 8523 lots.finally we saw the price recover from 1.12 to 1.15 in 5 minutes.another main force bear the sell pressure.these 4000lots are time bomb,now exploded.do you remember,when the price of MIT at 0.97,a strong buyer made the price jump over 1 dollar in 20 minutes?spent volume also 4000lots. they gone after earn small money. I fell happy when I check today's tech groph.MIT became a very safe share.MIT may Have another drop,but who expect the price down to 1 dollar,you can buy it in dreamland. MIT SIT AT BOTTOM SECTION NOW!!! |
| (Post 33 of 277) 01/18/2000.23:32:00 |
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For disscussion :- RSI : buy range Bollinger : freeze Stochestic : Hold, J>10%, K still running below D candal stick : sell conclusion : do not buy in. |
| (Post 34 of 277) 01/26/2000.13:13:00 |
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come on in and ride the wave now. Cheers! |
| (Post 35 of 277) 01/27/2000.13:17:00 |
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Cmon, load up some to see it gold plated come Monday...semi-conductor play in the making, with ASA taking the lead. Cheers! |
| (Post 36 of 277) 02/02/2000.23:46:00 |
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Heard from my broker that MIT is worth serious consideration at 1.16-1.17 range and looks set to rise soon. |
| (Post 37 of 277) 02/03/2000.00:28:00 |
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Hi mojo, If u look at the chart, currently strong support can be seen at $1.13. This is one of the stocks i mentioned (buy at your own risk pls) yesterday. No, none of my brokers tell me abt it. Even if he do, it makes no difference to me coz i have long stopped listening to brokers' recommendations and it is a good practice to rely on your own homework. Even if u got it wrong, u can learn something from it and move on. No vested interest yet. |
| (Post 38 of 277) 02/03/2000.12:20:00 |
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MIT poised for a breakout? Watch the resistance at $1.21. I'm already in today at $1.15.;) |
| (Post 39 of 277) 02/03/2000.21:21:00 |
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waiting for it to burst out of the consolidation channel. Maybe tomorrow maybe another week or two or maybe or just maybe not Cheong arrrhhhhhh..... |
| (Post 40 of 277) 02/12/2000.19:11:00 |
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i wonder if this counter has any upside at all... |
| (Post 41 of 277) 02/14/2000.06:06:00 |
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MANUFACTURING INTEGRATION TECHNOLOGY LTD The Directors of Manufacturing Integration Technology Ltd (the "Company") would like to announce the acquisition of a shelf company known as JSW Communications (S) Pte Ltd ("JSW"), pursuant to Clause 1005 of the Listing Manual of the Singapore Exchange Securities Trading Limited. The authorised share capital of JSW is S$100,000 divided into 100,000 ordinary shares of S$1.00 each and its issued and paid-up share capital is S$2.00. The principal activity of JSW is that of trading. The above transaction does not have any effect on the net profts, earnings per share and net tangible assets of the Company for the current financial year ending 31 December 2000. None of the directors or substantial shareholders of the Company have any interest, direct or indirect, in the above transaction. Submitted by Busarakham Kohsikaporn, Company Secretary on 11/02/2000 to the SES |
| (Post 42 of 277) 02/17/2000.10:43:00 |
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MIT broke out on high volume. The chart showed flag formation and was poised to break out. It should continue to rally given the robust semiconductor industry. St Assembly and Chartered Semicon resumed its uptrend and I believe this counter should follow. Have vested interest. |
| (Post 43 of 277) 02/17/2000.17:43:00 |
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MIT is a good counter but has hovered below $1.20 for sometime now. Any ideas when their FY 99 results will be out. I'm still resisting sell at current depressed prices though I can take good profits. Do U think it will hit $2 at medium term? |
| (Post 44 of 277) 02/17/2000.18:17:00 |
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I believe once interest comes back to this counter, it will definitely push up its prices to the next level. Anyway, the semiconductor industry is now in its second year of recovery and should have at least three more years of growth to look forward to. |
| (Post 45 of 277) 02/18/2000.16:40:00 |
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looks like MIT is losing steam....px fell to 1.18..comments, anyone? or is it juz profit-taking? |
| (Post 46 of 277) 02/19/2000.01:31:00 |
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MIT IPO at $0.56 - Double that amounts to $1.12 At already 100% premium, can it go up that fast ? |
| (Post 47 of 277) 02/21/2000.12:03:00 |
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Emailed to me by a broker: The trade numbers for January will be out soon. Market consensus is a 25% growth in NODX. My own suspicion is that the figures will exceed consensus and possibly by a wide margin. The semicon segment is expected to do especially well as the industry has bottomed and looks set for a good growth of 23% this year. Semicon stocks should be played up after the trade data is released. MIT could see a good rebound. Trading pattern for last week shows alot of accumulation taking place at the $1.17 to $1.20 level. Charts look good. Talk that the stock will see a sharp upmove soon. |
| (Post 48 of 277) 02/22/2000.23:10:00 |
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MIT has been quite resilient in face of the Dow correction. This stock has formed what we called the flag formation and 1.15 is a good entry point. This stock should run once the STI is + and should rally on high volume. Be prepared to cut loss if it close below 1.10 |
| (Post 49 of 277) 02/23/2000.00:55:00 |
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Yes, MIT is quite resilent. I am bullish about their FY 99 results. May go below $1.10 in the next few weeks if STI comes going south. Don't unload winners if U are medium term investor. Accumulate at when it goes below $1.10. Very Unlikely to go below $1.00. |
| (Post 50 of 277) 02/23/2000.17:16:00 |
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I agree that its a good stock, will accumulate if it falls below $1.10 |
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