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(Post 1 of 39) 03/13/2000.15:17:00 |
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NH Ceramics obtains approval to list on SESDAQ NH Ceramics Pte Ltd said it has received in-principle approval from the Singapore Exchange to list on SESDAQ. In a statement, the company said Overseas Union Bank Ltd has been appointed as the manager, lead underwriter and placement agent for the IPO. NH Ceramics has two factories and warehouses and is involved in the tiling business. |
| (Post 2 of 39) 03/13/2000.16:28:00 |
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Emailed by broker: "Old economy" oldies to list...yak! Let me pass.. NH Ceramics gets OK to list on Sesdaq. NH Ceramics is the holding company for Nam Huat Tiling & Panelling Co Pte Ltd. Nam Huat got only two warehouses and supplies tiles & other building materials for private & public projects. Year ended June 99 saw co made $3.2mil in pre-tax profit. Revenue was $33.2mil. OUB will be the promoter for the new issue". |
| (Post 3 of 39) 03/14/2000.20:29:00 |
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oldman Construction is contraction main contractors losing money subcontrctors ??? |
| (Post 4 of 39) 03/22/2000.08:41:00 |
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NH Ceramics aims to raise up to 10.0 mln sgd via IPO NH Ceramics, which has received in-principle approval for listing on Sesdaq, aims to raise up to 10 mln sgd from its initial public offer, the Business Times quoted NH Ceramics managing director Ricky Paul Goh as saying. Proceeds from the IPO will be used by the company, a building materials supplier, to speed up growth and finance working capital requirements, he said. The company achieved a pretax profit of 3.20 mln sgd on turnover of 33.20 mln sgd in the year to June 1999, compared to a pretax profit of 0.70 mln sgd on turnover of 6.10 mln sgd the year before, he said. |
| (Post 5 of 39) 05/16/2000.03:34:00 |
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Singapore NH Ceramics To Launch IPO This Week After Delay NH Ceramics Pte. Ltd., a Singapore tile and marble distributor, will launch its initial public offering this week after a month-long delay, Managing Director Ricky Goh told Dow Jones Newswires Monday. Goh had postponed his company's IPO following the 9% drop on the Nasdaq Exchange on April 17. NH Ceramics's IPO was initially scheduled to be launched in April. NH Ceramics will be the third IPO to be launched this week, following electronics contract manufacturer PNE Industries Ltd., and engineering solutions company Trek 2000 International Ltd. Both companies launched their IPOs Monday. "There is a window of opportunity this week for companies that are waiting to list," said Victor Leong, director and head of corporate finance for UOB Asia, a unit of United Overseas Bank Ltd. (UOBH.SI). UOB is the lead manager and underwriter for PNE Industries. "After speaking to investors, we have detected a certain appetite for new issues," he said. The sentiment is further strengthened by the recent good performance by newly listed small capital companies Links Island Holdings Ltd. (P.LIH), Parkway Laboratories Ltd., and Medi-Rad Associates Ltd. Investment bankers say that there will be renewed investor interest in new issues after the debut Friday of two units of Singapore Airlines Ltd. (SIAL.SI) - Singapore Airport Terminal Services Ltd. and SIA Engineering Ltd. "There had been a lot of interest in these two companies, which were large issues. Now that those are out of the way, it is a good time for new companies to come in," said Mah Kah Loon, director of capital markets at Vickers Ballas. Vickers is the lead manager and underwriter for Trek 2000. Leong of UOB said that despite the favorable sentiment toward IPOs, investors remain selective. "Pricing is very important as market sentiment is not as strong as it was at the beginning of the year," he said. Companies might have to sacrifice commanding a higher price if they enter the market in an unstable environment, he said. However, he added that it's just as hard to predict how market sentiment would fare any time in the year. PNE Industries, priced at 26 Singapore cents (US$=S$1.7291), trades at a price earnings multiple of 11.8 times earnings per share for financial year ending Sept. 30, compared with the average multiple of more than 25 times for contract manufacturers in Singapore. Leong added that investors would be looking for companies with proven profit records. Pure Internet plays with two- to three-year revenue forecasts will be less favorably received, he said. Wizoffice.com Pte. Ltd., a business-to-business electronic-commerce company, had postponed its IPO indefinitely, a source close to the company said. The company and its underwriter, ING Barings, could not be reached for comment. |
| (Post 6 of 39) 05/19/2000.13:08:00 |
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NH Ceramics launches IPO of 13 mln shrs at 0.29 sgd each SINGAPORE (AFX-ASIA) - NH Ceramics Ltd said it has launched an initial public offering of 13 mln shares at 0.29 sgd each. The IPO includes a retail tranche of 2 mln shares and a placement tranche of 11 mln shares, which include 3.25 mln shares reserved for employees and business associates. Expected net proceeds of 2.70 mln sgd will be used for the company's working capital requirements, it said. NH Ceramics, which supplies building materials, said it posted pretax profit of 1.80 mln sgd on revenue of 15.50 mln in the six months to Dec 1999. |
| (Post 7 of 39) 05/19/2000.15:26:00 |
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emailed by broker NH CERAMICS - IPO size cut.... Original IPO size was 90mil, when mkt was a wee-bit better and NH wanted to raise $10 mil…now it ‘stinks’, hence the small size of just $3.77 mil....maybe someone will "corner" this issue? IPO represents 20% of enlarged share capital of 65 million shares. Offer closes May 25 and shares expected to start trading on Sesdaq on May 29. OUB is lead manager for IPO; co-underwriter is Keppel Tatlee Bank. |
| (Post 8 of 39) 05/19/2000.16:20:00 |
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Another "cornerable" IPO? Saw some advertisements on TV yesterday & was quite surprised to see NH Ceramics on TCS 8 !!! The ads was quite nice and it looked as though they have spend a bit of money on it. Well produced but no advert storyline (not that I can see) Any idea if the advert is timed coincidentally with the IPO? When I saw SimSiangChoon ads on TV during their IPO, I thought they only do it for the IPO issue, but now you see Sim's advert on TV very often. So I learn not to jump to conclusion that they only advertise for better IPO performance. |
| (Post 9 of 39) 05/20/2000.08:28:00 |
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Surely an unusual issue. The public tranche is even smaller than the amt of shares reserved for staff, 2 m vs 3.25 m. Even if you have no reason to subscribe or purchase the shares, I am sure this low public float will make you think twice, you know what I mean.... Here is the full story from Straits Times.... Building and finishing materials supplier NH Ceramics (NH) yesterday launched its initial public offer (IPO) of just 13 million new shares priced at 29 cents apiece. Only two million shares will be offered for public subscription. The placement tranche of 11 million shares includes 3.25 million shares reserved for staff. An analyst from a local securities firm said a public offer tranche this small was unusual -- "but it really all depends on the company, whether they want a large share capitalisation." The flotation represents 20 per cent of the company's enlarged share capital. While the size of the public tranche seems small, Mr Soon Boon Siong, senior vice-president for corporate finance of the issue's lead manager and underwriter, OUB, said it is actually within the norm. He explained: "Generally, companies going for IPOs have a public offer tranche in the range of about 10-20 per cent of the total shares offered. NH's public offer tranche is a little over 15 per cent and that is in line with the usual range." The Sesdaq-aspirant's core business is supplying tiles and slates for public and private sector projects. It also supplies home-owners and renovation contractors from its 300 sq m showroom at Outram Park, but it is searching for a larger showroom. Managing director Ricky Paul Goh had said earlier that the company will use the issue proceeds of $2.7 million to speed up further growth and for working capital. The shares have a historical price-earnings ratio of 7.02. NH posted a net profit of $2.15 million on a turnover of $33.2 million for the year ended June 30 1999. The share offer closes next Thursday. |
| (Post 10 of 39) 05/25/2000.10:26:00 |
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Hi all, Seem that the market is bouncing back today. Any comments on NHceramics. To subscribe or not. Your valuable comments seriously needed!! Happy trading and WIN BIG BIG!! |
| (Post 11 of 39) 05/25/2000.15:23:00 |
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Folks, I did some leg work research recently. I visited NH Cermaics showroom in Outroom to look for some tiles for my current kitchen renovation that I'm undertaking. Must say, I found the experience quite pleasant. The staff know their products, were able to address my concerns and explain specific questions about tile quality, make and sourcing, maintenance, etc. They have quite an extensive product range, attractively priced and suitable to the DYI enthusiast as well. Further, I was actually surprised to discover that the very same tiles that I was planning to tear out from my kitchen, were bought from them. No kidding. I'm still evaluating the patterns but it prompted me to pick up a copy of their IPO prospectus and 'learn' about their business. Boy! There is a wealth of information there. The best part, I thought, was the market risk disclosures which clearly spelled out where lies the vulnerabilities of their business. I am impressed that management had the courage to disclose so much information, which literally told everything to their competitors. This company gets high marks for transparency and must admit, I too had reservations. I expected to find a typical family run company that hide their secrets behind gilded cloisters. Nope, not here. Their business segment breakdown clearly show that retail operations is where the REAL gravy is in their business. Their secret recipe is the good relationship they have with renovation contractors (mine too recommended them among a list of 5 potentials). But their other business segments are just as vibrant, with public sector brings in meaty contributions as well. All told, the float is small, just $3.5 million, and while the market is bleeding now, there will always be a segment of informed players that could easily mop up the float. Remember AirOcean? The stock practically doubled one week after its IPO. I leave you to draw your own conclusions. |
| (Post 12 of 39) 05/25/2000.16:10:00 |
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NH Ceramics - Listing Mon. UOB will Stag... UOB rates NH Ceramics, which starts trading Monday, as stag, meaning it's expected to rise very quickly and then level off, and gives NH potential upside of 10% to 26% from offer price of 29 Singapore cents. NH well positioned to benefit from construction sector which may be bottoming out after 1Q00, says UOB. Construction demand projected to rise 48% to S$15.4 billion this year, driven by recovery in residential property prices. At PER of 6.7X FY00, NH in line with competitor ASA Ceramic which trades at PER of 6.5X FY00, says UOB [Dow Jones] |
| (Post 13 of 39) 05/25/2000.22:53:00 |
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Singapore NH Ceramics Shr Offering 24 Times Subscribed SINGAPORE (Dow Jones)--NH Ceramics said Thursday that the retail tranche of its initial share offering was 24 times subscribed. The company sold two million shares to the public in the retail tranche. In addition, the placement tranche of 11 million shares was fully subscribed by employees and institutional investors. The shares were sold for S$0.29 each. The share issue represents 20% of the company's enlarged share capital and raised net proceeds of S$2.7 million. NH Ceramics is a supplier of finishing and building materials. |
| (Post 14 of 39) 05/29/2000.15:34:00 |
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NH Ceramics had a decent IPO debut today, saved partly by its small and limited float of just 13m shares offered @ 29c. The ranges today are 30.5c to 35c with over 8 mil shares changing hands. The tight float makes it easy for vested interest to keep stock aloft... |
| (Post 15 of 39) 05/30/2000.03:50:00 |
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STOCKWATCH: NH Ceramics slightly higher vs IPO price of 0.29 sgd SINGAPORE (AFX-ASIA) - NH Ceramics shares were slightly higher in midmorning trade against the company's IPO price of 0.29 sgd, supported largely by retail investors, dealers said. Volumes are, however, too small in line with the general market and the runup does not look sustainable, they said. At 10:20 am, NH Ceramics was trading at 0.315 sgd, against an intra-day high of 0.35, on volume of 7.21 mln shares. The Straits Times index was up 5.67 points at 1,826.30. "I don't think the run-up in NH Ceramics had anything to do with the company's fundamentals. I think it is well supported. Because the free float is very small, you get less overhang in the shares," a research head with a local brokerage said. NH Ceramics sold 13 mln shares at 0.29 sgd via the IPO, which included a retail tranche of 2.0 mln shares and a placement tranche of 11 mln shares inclusive of 3.25 mln shares reserved for employees and business associates. An analyst with a regional brokerage said he does not think the run-up in NH Ceramics is sustainable. "NH Ceramics is not in a very exciting industry," he said. NH Ceramics is a supplier of building materials and with the outlook for the construction industry remaining weak, the stock is not likely to sustain its good IPO performance, he said. jb/zr AFN BEC59-29May00 02:42 GMT AFX ; ASIA ; |
| (Post 16 of 39) 06/07/2000.12:20:00 |
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Look for this counter, looks like syndicates are back and this has the smallest free float of 11M very easy to corner, if it breaks above 30 |
| (Post 17 of 39) 06/20/2000.13:44:00 |
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Looks like management is getting quite comfortable with the prospects of NH Ceramics at these levels. Goh Moh Chye bought 544,000 @$0.264 to increase his stake from 25.77 to 26.6%. This follows a series of purchases since end May. On valuations in the prospectus, the shares do not look that highly priced, PE is 6.5x and Price/NTA is 1.2x, one of the lowest for recent IPOs. Chartwise, the shares appear to have been consolidating since listing at end May between 24-30cts. Given its small float, it was also one of the most popular IPOs, being 24x oversubscribed. No vested interest but certainly worth watching due to management accumulation of the stock, shortly after IPO - usually management will be looking to sell, not to buy, post-IPO. |
| (Post 18 of 39) 06/28/2000.14:03:00 |
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I have absolute faith in this counter and I think sooner or later, it is going to enjoy a run like no other, when the volume goes up to 1-2M a day the price will double due to the small size |
| (Post 19 of 39) 09/14/2000.00:24:49 |
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NH Ceramics yr to June net profit 2.569 mln sgd vs 2.149 mln
SINGAPORE (AFX-ASIA) - NH Ceramics year to June results: Net profit - 2.569 mln sgd vs 2.149 mln Sales - 33.38 mln sgd vs 33.181 mln Pretax profit - 3.782 mln sgd vs 3.156 mln EPS - 4.84 cents vs 4.13 Final div - 0.60 cents (based on par value of 0.20 sgd) vs 25 (based on par value of 1.0 sgd) |
| (Post 20 of 39) 09/14/2000.16:12:25 |
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Heard from broker that NH Ceramics had an analyst briefing today on reviewing and answering queries on the Group's performance for FY 2000 and an update on their growth plans.
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| (Post 21 of 39) 09/14/2000.16:22:58 |
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Dude, NH Ceramics' results is in this morning newspaper. Net profit up 19.5%.  |
| (Post 22 of 39) 01/04/2001.16:29:30 |
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Anyone knows why NH Ceramics is down 9cts to 20cts? As I could not see any reason for this, I have been buying some lots today. The historical charts show that this is the lowest price ever for this recently listed stock. |
| (Post 23 of 39) 01/04/2001.16:52:28 |
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Oldman,
This counter is very illiquid, with many days of no trades done at all. The Intraday chart shows massive dumping in the afternoon (80 lots, tis relative!). I think NH gives good dividents, and it does have a boring, stable business with no overwhelming debts. Not exactly a growth company,. What have you found out? Please share. Cheers |
| (Post 24 of 39) 01/04/2001.21:52:44 |
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Wormbunny, I agree with you. Over the past few months, volume did not exceed 50 lots. Most days only a few lots traded. Shares reached a low of 20cts a few weeks back and then slowly climbed up. Over the past week, total volume did not exceed the 80 lots combined. This means that the lots sold were not forced sold. The pattern of the sale is that the seller sold into the open buy lots. This suggest to me that there may be more selling pressure. Interesting to see if the selling will continue. I am here just for a ride and if the shares rebound, I will be in the sell queue. |
| (Post 25 of 39) 02/28/2001.23:13:18 |
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ACQUISITION OF PROPERTY
NH Ceramics Ltd ("NH Ceramics") is pleased to announce that its wholly-owned subsidiary, Nam Huat Tiling & Panelling Co., Pte. Ltd. ("Nam Huat") has acquired (the "Acquisition") the property known as 5 Jalan Masjid #01-09 Kembangan Court Singapore (the "Property") for a cash consideration of S$2,700,000 (the "Purchase Price"). The Acquisition was completed yesterday. The Purchase Price was arrived at based on the open market value of the Property determined with reference to a valuation conducted on the Property by DTZ Debenham Tie Leung (SEA) Pte Ltd ("DTZ") and on a willing buyer and willing seller basis. DTZ assessed the open market value of the Property as S$2,700,000 as at 15 December 2000. The Acquisition is financed by internal funds and borrowings from a finance company. The Property is situated near the Kembangan MRT station . The Property has a freehold tenure and an aggregate land area of approximately 410 square metres. Nam Huat intends to use the Property to house its current showroom at Outram Park after the lease at Outram Park expires sometime in the middle of this year. The Acquisition is not expected to have any material effect on the earnings per share and the net tangible assets per share of NH Ceramics for the year ending 30 June 2001. None of the directors or substantial shareholders of NH Ceramics has any interest, direct or indirect, in the Acquisition. Submitted by Goh Moh Chye Ricky Paul, Managing Director on 28/02/2001 |
| (Post 26 of 39) 03/14/2001.21:20:55 |
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ANNOUNCEMENT IN RESPONSE TO SGX LETTER DATED 09/03/2001
Further to NH Ceramics' (the "Company") announcements made on 13 September 2000 and 7 March 2001, and in response to a query from the Singapore Exchange Limited, the Company makes the following clarifications concerning the announcements of results. 1. In the announcement of full year results for FY2000 (financial year ended 30 June 2000) made on 13 September 2000, the Company stated that "Demand for ceramic and marble tiles and other finishing products is expected to improve significantly ..." and that "the Group is expected to benefit from the growth factors in all sectors of the industry stated above and are optimistic as the industry rides upon the post financial crisis recovery in FY2001 and beyond". 2. The primary bases for this expectation, which were elaborated in the published Annual Report FY2000 (Chairman's Statement) were: a) The Group reported a 19.5 per cent. increase in net profit after tax for FY2000 despite a flat turnover. The strong margin and profit growth were due to the lower cost of purchases as the Singapore Dollar strengthened against the Italian Lira and Euro during the period. With the recovery of the Singapore Economy, it was anticipated that the Singapore Dollar would continue to remain strong and contribute to improved profitability in FY2001. b) The Directors were especially optimistic about the Retail sector business, which was expected to pick up further in second half 2000, in view of the economic growth in the first two quarters. This was expected to translate into greater demand for home upgrading and renovations. c) In the Public sector, construction demand was expected to increase by 47% in 2000/2001 to $15 billion on the back of government infrastructural developments, particularly in residential (HDB), educational (PWD schools and institutions of higher learning), industrial (JTC) and other commercial property projects. The Company's order books then reflected orders worth $11.9 million with 16 projects from the Private sector and 52 projects from the Public sector. 3. However, in the "Market Outlook and Prospects" section of the Chairman's Statement, it was specifically projected that "While the macro factors indicate a positive outlook for the industry in 2001, the full impact of this improvement would only be felt in FY2002 due to the time lag between the award and completion of a project. Our financial performance this Financial Year should still reflect the slowdown in the construction industry in 1998 and early 1999." 4. The brief statement in the Announcement made on 13 September 2000, was meant to project the medium term expected overall post-crisis recovery for all sectors of the industry into "FY2001 and beyond". The Directors acknowledge that the profit warning paragraph reflecting the caution of the Group in the expected actual performance in FY2001 as stated in the Annual Report on the Market Outlook and Prospects, should have been included in the Announcement of 13 September 2000, and regret the omission. 5. The Half Year Announcement for FY2001 made on 7 March 2001, reported an interim loss of $451,000 compared to a pre-tax profit of $1.8 million in the previous period. The loss arose mainly due to: i) Retail demand from home renovations, expected to increase in fourth quarter 2000, declined instead, with turnover decreasing by approximately $0.4 million. ii) Turnover from Project deliveries for the period mirrored the decline in Construction Output for the period as billings were made only upon delivery of orders in line with construction output at the job sites. The slack in work output resulted in a $1.9 million decrease in Project turnover. iii) The Group further faced the full impact of post-listing operating cost increases during this interim period comprising mainly administrative expenses ($0.53 million) and marketing expenses ($0.22 million). iv) Although the actual operating costs were in line with forecast, the decline in overall turnover especially in 4th quarter 2000 was much more than anticipated, resulting in the interim loss. 6. The Directors acknowledge that a prompt announcement should have been made then as the interim result was even more adverse than projected. We regret the omission and will ensure that this will not be repeated. Submitted by Ricky Paul Goh Moh Chye, Managing Director on 14/03/2001 |
| (Post 27 of 39) 04/17/2001.20:22:25 |
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ACQUISITION OF PROPERTY
NH Ceramics Ltd ("NH Ceramics") is pleased to announce that its wholly-owned subsidiary, Nam Huat Tiling & Panelling Co. Pte. Ltd. ("Nam Huat") has acquired (the "Acquisition ") the property known as Blk 210, Hougang Street 21 #01-243 Singapore 530210 (the " Property") for a cash consideration of S$1,150,000 (the "Purchase Price"). The Acquisition was completed yesterday. The Purchase Price was arrived at based on the open market value of the Property determined with reference to a valuation conducted on the Property by DTZ Debenham Tie Leung (SEA) Pte Ltd ("DTZ") and on a willing buyer and willing seller basis. DTZ assessed the open market value of the Property as S$1,150,000 as at 01 December 2000. The Acquisition is financed by internal funds and borrowings from a finance company. The Property has a 90 years lease from the Housing and Development Board commencing from 1 April 1993 and an aggregate land area of approximately 166 square metres. The Property was acquired because of its good location and the directors of Nam Huat are of the view that it would make a good investment. The Property could also be converted into a showroom for Nam Huat's products in the future. In the meantime, Nam Huat intends to rent out the Property. The Acquisition is not expected to have any material effect on the earnings per share and the net tangible assets per share of NH Ceramics for the year ending 30 June 2001. None of the directors or substantial shareholders of NH Ceramics has any interest, direct or indirect in the Acquisition. Submitted by Goh Moh Chye Ricky Paul, Managing Director on 17/04/2001 |
| (Post 28 of 39) 06/05/2001.21:20:53 |
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ACQUISITION OF PROPERTY - SHOWROOM
Further to the announcement on 28 February 2001 regarding the acquisition of the property located at No. 5 Jalan Masjid, #01-09 Kembangan Court Singapore 418924 (the "Premises"), NH Ceramics Ltd (the "Company") is pleased to announce that its new showroom has been situated at the Premises with effect from 3 June 2001. This new showroom has a freehold tenure with a floor area of 410 square metres and it was acquired by the Company's operating subsidiary, Nam Huat Tiling & Panelling Co. Pte Ltd. The previous showroom, being rented premises, was returned to Housing Development Board on 2 June 2001 as the place has been designated for enbloc redevelopment. Submitted by Goh Moh Chye Ricky Paul, Managing Director on 05/06/2001 |
| (Post 29 of 39) 07/11/2001.19:16:32 |
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ANNOUNCEMENT OF PROFIT WARNING
Profit Warning and Initial Review of the Performance of the Company and its Principal Subsidiary for FY2001 (Financial Year ended 30 June 2001) based on unaudited figures The main operating subsidiary of the Group is Nam Huat Tiling & Panelling Co Pte Ltd ("NHTP"), whose activities remain unchanged as a major supplier, stockist and distributor of ceramic and marble tile products and other building finishing materials to public and private sector projects & retailing to renovation contractors and homeowners. The turnover of the Group decreased by 14.8% in the first half of FY2001 from the corresponding period in FY2000, resulting in an interim loss of $0.45 million. The turnover in the second half of FY2001 fell further by 21.4% from that in FY2000, resulting in an overall decrease in turnover of FY2001 over FY2000 by 18.3%. The unexpected significant drop in the second half of FY2001 arose from the rapidly deteriorating financial health of contractors and the unexpected downturn in demand from home renovations in Second Quarter 2001. _____________________________________________________________________ Jun 2001 Jun 2000 Turnover S$'000 % S$'000 % _____________________________________________________________________ Project Segment Public Sector 14,450 53.0 12,445 37.3 Private Sector 5,628 20.6 12,640 37.9 Retail Segment 7,185 26.4 8,294 24.8 _____________________________________________________________________ 27,263 100.0 33,379 100.0 ======================================== In the Project Segment, despite having secured orders in hand, the Group took a cautious approach in the management of delivery of materials, payments and receivables. This resulted in a drastic slow down in the pace of deliveries and invoicing, which led to the significant drop in turnover. The Group also refrained from overly aggressive bidding in a difficult environment to safeguard against unprofitable contracts and risky collectibles. This was to avoid simply running a turnover that would lead to damaging consequences and losses from bad debts, disputes and litigation. The Retail Segment reflected the economic downturn in the First and Second Quarters 2001 in Singapore by a decrease in turnover in FY2001 by 13.4% from that in FY2000. This economic downturn was especially significant when the traditional peak period in retail business was March-June. In the interim reporting for FY2001 as at 31 December 2000, the Group reported a turnover of $13.2 million and outstanding contracts amounting to $15.4 million that were expected to be completed within the following 6 months. This would have brought the full year results for FY2001 in excess of $28.6 million. However, due to the slowdown in the pace of completion, approximately $6.3 million out of this $15.4 million are now carried forward into FY2002. The Group also increased its order book with a further $7.8 million for completion in FY2002 from projects secured in first half 2001. The financial health of the industry, though difficult, was not expected to worsen. Under such unfavourable circumstances, the Group consolidated its resources instead to maximise contributions through tight project management and cost controls, to meet the industry slowdown. The Group is mindful of the similar difficult business environment faced during the 1986-1988 Singapore Recession, from which it emerged to become a major player in all the sectors of the industry. That Recession placed a heavy toil on the industry but the resultant market consolidation proved to be of great benefits to the industry in terms of strengthening and enhancement of industry professionalism, rationalisation of competition, market positioning and market share. Expected FY2001 Results Against the decrease in turnover for the second half FY2001, the Group expects a further loss to be incurred for this period, although the loss for the second half FY2001 is not expected to be worse than that incurred in the first period. Preliminary Commentary on Prospects for the Financial Year 2002 As at 30 June 2001, the Group has outstanding contracts of $14.1 million comprising 26 private sector and 60 public sector projects. This is in contrast to the total completed projects in FY2001 that comprised 51 private and 56 public sector projects, and reflects the slowdown in private sector construction demand. With the general economy turning into recession mode in 2001, the retail segment is expected to contribute a flat turnover for FY2002. The Group had initiated consolidation plans to ride out the difficult period by focusing on its internal development and external marketing programmes to further strengthen its manpower, professional and organisational capabilities. Project management, credit control, purchasing and inventory programmes had already been reviewed and tightened during the interim period. However, the Directors continue to be optimistic and view the current difficult business environment with earnest expectations and anticipation to ride upon the recovery of the industry and the economy. The Directors expect the difficult business environment to continue into FY2002, but does not expect the performance of the Group in FY2002 to be worse than that of FY2001. Submitted by Goh Moh Chye Ricky Paul, Managing Director on 11/07/2001 |
| (Post 30 of 39) 10/18/2001.21:26:51 |
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NH CERAMICS LTD
Notice Of Annual General Meetings NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of the Company will be held at 1 & 3 Tuas Avenue 8 Jurong Industrial Estate Singapore 639217 on 2 November 2001 at 10.00 a.m. to transact the following business:- ORDINARY BUSINESS 1. To receive and consider the audited accounts for the year ended 30 June 2001 and the reports of the Directors and Auditors thereon. 2. To declare a final dividend of 0.3 cents per share less tax for the year ended 30 June 2001. 3. To approve Directors' Fees of S$87,863.00 for the year ended 30 June 2001. [Year 2000 : S$24,109.60]. 4. To re-elect Mr Stephen Tay Chye Heng retiring by rotation in accordance with Article 94 of the Company's Articles of Association. 5. To re-elect Mr Robbie Ooi Seng Soon retiring in accordance with Article 95 of the Company's Articles of Association. [See Explanatory Note (a)] 6. To re-elect Mr Wee Piew retiring in accordance with Article 95 of the Company's Articles of Association. [See Explanatory Note (b)] 7. To re-appoint Arthur Andersen as Auditors and to authorise the Directors to fix their remuneration. SPECIAL BUSINESS 8. To consider and, if thought fit, to pass the following resolution with or without amendments as an ordinary resolution:- 8.1 Authority to Issue Shares "That pursuant to Section 161 of the Companies Act, Cap. 50, approval be and is hereby given to the Directors of the Company to allot and issue shares in the Company (whether by way of rights, bonus or otherwise) at any time to such persons and upon such terms and conditions and for such purposes as the Directors may in their absolute discretion deem fit, provided that the aggregate number of shares to be issued pursuant to this Resolution does not exceed 50 per cent of the total issued share capital of the Company for the time being, of which the aggregate number of shares to be issued other than on a pro-rata basis to existing shareholders of the Company does not exceed 20 per cent of the total issued share capital of the Company for the time being, and, unless revoked or varied by the Company in general meeting, such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier." [See Explanatory Note (c)] 9. To transact any other business which may properly be transacted at an Annual General Meeting. BY ORDER OF THE BOARD LOUIS PANG NGHEE THIAM SECRETARY Singapore, Date : 18 October 2001 Proxies :- A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the Company. An instrument appointing a proxy must be deposited at the Company's registered office at 1 & 3 Tuas Avenue 8 Jurong Industrial Estate Singapore 639217 not less than 48 hours before the time appointed for holding the Meeting. Notes :- (a) Mr Robbie Ooi Seng Soon, if re-elected, will remain as an audit committee member and will be considered as an independent director. (b) Mr Wee Piew, if re-elected, will remain as an audit committee member and will be considered as an independent director. (c) The ordinary resolution set out in item 8.1 above, if passed, will empower the Directors from the date of the above Meeting until the date of the next Annual General Meeting, to issue shares in the Company. The number of shares which the Directors may issue under this Resolution would not exceed fifty per cent (50%) of the issued share capital of the Company for the time being. For issues of shares other than on a pro rata basis to all shareholders, the aggregate number of shares to be issued shall not exceed twenty per cent (20%) of the total issued share capital of the Company for the time being. Submitted by Louis Pang Nghee Thiam, Secretary on 18/10/2001 to the SGX |
| (Post 31 of 39) 11/02/2001.17:25:41 |
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NH CERAMICS LTD
Resolutions Passed At Annual General Meeting Pursuant to Clause 903(2) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of NH Ceramics Ltd (the "Company") wishes to announce that the following ordinary resolutions put to the Annual General Meeting of the Company held on 2 November 2001 were duly passed:- 1. That the accounts for the year ended 30 June 2001 together with the Directors' and Auditors' Reports thereon as published and circulated to all members and now submitted to this meeting be and are hereby received and adopted. 2. That a final dividend of 0.3 cents per share less tax be declared payable for the year ended 30 June 2001. 3. That the Directors' Fees of S$87,863.00 for the year ended 30 June 2001 be approved for payment to the Directors. 4. That Mr Stephen Tay Chye Heng retired in accordance with Article 94 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company. 5. That Mr Robbie Ooi Seng Soon retired in accordance with Article 95 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company. 6. That Mr Wee Piew retired in accordance with Article 95 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company. 7. That Arthur Andersen be and are hereby re-appointed as auditors of the Company to hold office until the conclusion of the next annual general meeting and that the Directors be authorised to fix their remuneration. 8. That pursuant to Section 161 of the Companies Act, Cap. 50, approval be and is hereby given to the Directors of the Company to allot and issue shares in the Company (whether by way of rights, bonus or otherwise) at any time to such persons and upon such terms and conditions and for such purposes as the Directors may in their absolute discretion deem fit, provided that the aggregate number of shares to be issued pursuant to this Resolution does not exceed 50 per cent of the total issued share capital of the Company for the time being, of which the aggregate number of shares to be issued other than on a pro-rata basis to existing shareholders of the Company does not exceed 20 per cent of the total issued share capital of the Company for the time being, and, unless revoked or varied by the Company in general meeting, such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier. BY ORDER OF THE BOARD Submitted by Louis Pang Nghee Thiam, Secretary on 2/11/2001 to the SGX |
| (Post 32 of 39) 01/02/2002.17:28:17 |
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NH CERAMICS LTD
ANNOUNCEMENT OF INITIAL OPERATING RESULTS FOR 6 MONTHS OF FY2002 ENDED 31ST DECEMBER 2001 The Board of Directors of NH Ceramics Ltd would like to refer to the announcement of the Group's results for the financial year ended 30th June 2001, made on 6th September 2001, wherein the Directors stated, in respect of the commentary on the current year prospects, that barring any unforeseen events, the Directors expected the difficult business environment to continue in FY2002, but did not expect the performance of the Group in FY2002 to be worse than that of FY2001. The Directors are pleased to announce that the Group is expected to bounce back to profitability for the first half of FY2002 ended 31st December 2001. The main operating subsidiary of the Group is Nam Huat Tiling & Panelling Co Pte Ltd ("NHTP"), whose activities remain unchanged as a major supplier, stockist and distributor of ceramic and marble tiles and other building finishing materials to public and private sector projects & retailing to renovation contractors and homeowners. The turnover of the Group for the first half of FY2002, ended 31st December 2001, is $16.4 million. This is an increase of 24.2 per cent. from $13.2 million for the corresponding period in FY2001. The Group's order book, as at 31st December 2001, stands at $11.8 million. This comprises 26 private sector and 52 public sector projects. The Group continues to exercise prudence in the securing and completion of projects to guard against exposure to credit losses and other unprofitable contracts. This is reflected in comparison to the order book as at 30th June 2001, at the end of the previous FY2001, of $14.1 million, which comprised 26 private and 60 public sector projects. This better performance of the Group, contributed by NHTP, is achieved mainly through an increase in turnover resulting from an increase in market share despite the further downturn in the Singapore economy in H2 2001 and the decrease in overall demand for ceramic and marble tiles for home furnishing and housing project development. Detailed half-year results of the Group for the period ended 31st December 2001 will be announced before the end of March 2002. Submitted by Ricky Paul Goh , Managing Director on 02/01/2002 to the SGX |
| (Post 33 of 39) 01/29/2002.17:18:06 |
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NH CERAMICS LTD
ACQUISITION OF RESIDENTIAL PROPERTY NH Ceramics Ltd is pleased to announce that its wholly-owned subsidiary, Nam Huat Tiling & Panelling Co Pte Ltd ("NHTP") has exercised an option on the purchase of a freehold residential apartment at the D'Ecosia condominium unit #05-06, 27 Still Road South, Singapore (the "Apt") for $1,224,960. The apt is a penthouse unit with a built-in area of approx. 2,045 square feet. The condominium, currently under construction, is expected to be ready before 31 December 2003. The sale & purchase agreement is made with the developer, Hong Lai Huat Realty Pte Ltd, which is a wholly-owned subsidiary of Hong Lai Huat Group Limited ("HLHG"). HLHG, through its construction subsidiary, Hong Lai Huat Construction Pte Ltd, has regular commercial dealings with NHTP. The purchase consideration is the net price after a special discount from the price list. This acquisition by the Group is for investment purpose and financed by internal funds and a term loan from a commercial Bank. The acquisition is not expected to have any material effect on the earnings per share nor the net tangible assets per share of NH Ceramics Ltd for the financial year ending 30 June 2002. None of the directors or substantial shareholders of the Group has any interest, direct or indirect, in the acquisition. Submitted by Ricky Paul Goh Moh Chye, Managing Director on 29/01/2002 to the SGX |
| (Post 34 of 39) 01/30/2002.09:15:58 |
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NH CERAMICS LTD
ACQUISITION OF RESIDENTIAL PROPERTY Further to our Announcement on the MASNET No: 37 OF 29.01.2002 on the Acquisition of the Residential Property, #05-06 D'Ecosia we wish to clarify that the gross area of the apartment is approx. 2,045 square feet and the built-in area should be approx. 1,367 square feet. Submitted by Ricky Paul Goh Moh Chye, Managing Director on 29/01/2002 to the SGX |
| (Post 35 of 39) 04/14/2002.09:31:46 |
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NH CERAMICS LTD
NOTICE OF BOOKS CLOSURE DATE NOTICE IS HEREBY GIVEN THAT the Transfer Books and Register of Members of the Company will be closed from 5.00 p.m. on 10 May 2002 to 12 May 2002 for the purpose of determining members' entitlements to the interim dividend declared by the directors of the Company on 19 March 2002. Duly completed transfers received by the Company's Registrar, M & C Services Private Limited, at 138 Robinson Road #17-00 The Corporate Office, Singapore 068906 up to 5.00 p.m. on 10 May 2002 will be registered before entitlements to the dividend are determined. Members whose Securities Accounts with The Central Depository (Pte) Limited are credited with shares at 5.00 p.m. on 10 May 2002 will be entitled to the dividend. The dividend will be paid on 23 May 2002. Submitted by Ricky Paul Goh Moh Chye, Managing Director on 12/04/2002 to the SGX |
| (Post 36 of 39) 05/09/2002.18:53:38 |
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NH CERAMICS LTD
Announcement On 19 March 2002, the Board of Directors approved an interim dividend of 1.5% less 24.5% tax for the year ending 30 June 2002 which was included in The Half Year Financial Statement And Dividend Announcement. This dividend was scheduled to be paid on 23 May 2002. In the Budget Announcement made on 3 May 2002, the corporate tax rate was reduced from 24.5% to 22.0% for the year of assessment 2003. As a result, the tax on the dividend shall be reduced to 22.0%. Submitted by Ricky Paul Goh Moh Chye, Managing Director on 09/05/2002 to the SGX |
| (Post 37 of 39) 07/05/2002.17:34:47 |
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NH CERAMICS LTD
UPDATE OF UNAUDITED OPERATING RESULTS FOR FINANCIALYEAR ENDED 30TH JUNE 2002 ("FY2002") The Board of Directors of NH Ceramics Ltd would like to refer to the announcement of the Group's Interim Results for the six months ended 31st December 2001, made on 19th March 2002, wherein the Directors stated that, barring any unforeseen events, the Directors expected the Group to bounce back to profitability for FY2002. The main operating subsidiary of the Group is Nam Huat Tiling & Panelling Co Pte Ltd ("NHTP"), whose activities remain unchanged as a major supplier, stockist and distributor of ceramic and marble tiles and other building finishing materials to public and private sector projects & retailing to renovation contractors and homeowners. Turnover of the Group for the first half of FY2002, ended 31st December 2001, was $16.4 million. This was an increase of 24.2 per cent. over the $13.2 million for the corresponding period in FY2001. Turnover of the Group for the second half of FY2002, ended 30th June 2002, was $14.4 million. This was a slight 2.1 per cent. increase over the $14.1 million achieved for the corresponding period in FY2001. Full year FY2002 Group turnover, amounting to $30.8 million, is an increase of $3.5 million (12.8 per cent.) over the $27.3 million recorded for FY2001. Although the performance of the Group in the second half of FY2002 was not as good as that in the first half, the Directors expect the Group to achieve a profitable FY2002. The Group's order book, as at 30th June 2002, stands at $8.6 million. This comprises 13 private sector and 38 public sector projects. The Group continues to exercise prudence in the securing and completion of projects to guard against exposure to credit losses and other unprofitable contracts. This is reflected in comparison to the order book as at 31st December 2001, at the end of the first half of FY2002, of $11.8 million, which comprised 26 private and 52 public sector projects. FY2002 saw continued depressed construction activities, with many construction companies facing financial difficulties, and low home-owner renovation demand. The overall increase in turnover of the Group for FY2002, contributed by NHTP, is achieved mainly through an increase in market share. Detailed results of the Group for FY2002 will be announced before the end of September 2002. --- END --- Investor Relations - Please Contact: COGENT COMMUNICATIONS PTE LTD Tel: 68203123 Fax: 6820-3129 Mr Mark Teo Mobile: 94306524 Ms Magdelene Yip Mobile: 96215183 Submitted by Ricky Paul Goh Moh Chye, Managing Director on 05/07/2002 to the SGX |
| (Post 38 of 39) 07/31/2002.18:37:31 |
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NH CERAMICS LTD
Notice Of Extraordinary General Meeting NOTICE IS HEREBY GIVEN that the Extraordinary General Meeting of the Company will be held at 1 & 3 Tuas Avenue 8 Jurong Industrial Estate Singapore 639217 on the 16th day of August 2002 at 10.00 a.m. for the purpose of considering and, if thought fit, passing with or without any modification, the following resolution which will be proposed as an ordinary resolution:- "ORDINARY RESOLUTION APPOINTMENT OF NEW AUDITORS That Ernst & Young, Certified Public Accountants, Singapore be and are hereby appointed Auditors of the Company in place of the resigning Auditors, Arthur Andersen, to hold office until the conclusion of the next Annual General Meeting, at a remuneration to be agreed between the Directors and Ernst & Young." By Order of the Board Louis Pang Nghee Thiam Company Secretary Singapore, Date: 31 July 2002 Explanatory Notes The current Auditors, Arthur Andersen, have informed the Directors that the majority of their partners and personnel will be joining Ernst & Young. As such, Arthur Andersen have given notice to the Directors of their intention to resign as Auditors of the Company. The Directors would recommend and propose to members the appointment of Ernst & Young as the new Auditors in place of Arthur Andersen at the Extraordinary General Meeting to hold office until the conclusion of the next Annual General Meeting of the Company. Ernst & Young have consented to be appointed as Auditors of the Company. Upon the appointment of Ernst & Young at the Extraordinary General Meeting, Arthur Andersen's resignation as Auditors of the Company will take effect. Proxies A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the Company. An instrument appointing a proxy must be deposited at the Company's registered office at 1 & 3 Tuas Avenue 8 Jurong Industrial Estate Singapore 639217 not less than 48 hours before the time appointed for holding the Meeting. Submitted by Ricky Paul Goh Moh Chye, Managing Director on 31/07/2002 to the SGX |
| (Post 39 of 39) 08/19/2002.09:22:37 |
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NH CERAMICS LTD
Resolution Passed At Extraordinary General Meeting Pursuant to Rule 704(14) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of NH Ceramics Ltd (the "Company") wishes to announce that the following ordinary resolution put to the Extraordinary General Meeting of the Company held on 16 August 2002 was duly passed:- "APPOINTMENT OF NEW AUDITORS That Ernst & Young, Certified Public Accountants, Singapore be and are hereby appointed Auditors of the Company in place of the resigning Auditors, Arthur Andersen, to hold office until the conclusion of the next Annual General Meeting, at a remuneration to be agreed between the Directors and Ernst & Young." BY ORDER OF THE BOARD Submitted by Louis Pang Nghee Thiam, Company Secretary on 16/08/2002 to the SGX |
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