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(Post 1 of 11040) 09/30/1999.14:38:00 |
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TPV Holdings Ltd ================ Price : HK$1.19 Recommendation : Subscribe LISTING FACTS ============= Par Value : US$0.01 Shares offered : 300 million invitation shares comprising of 200 million new shares and 100 million vendor shares: (a) 223.05 million Hong Kong Invitation shares for primary listing in Hong Kong: · 28.5 million Hong Kong Offer Shares @HK$1.19 by way of public offer · 179.55 million Hong Kong Placement Shares @HK$1.19 by way of placement · 15 million Hong Kong shares have been reserved for employees (b) 76.95 million Singapore Invitation Shares for secondary listing in Singapore: · 7.7 million Singapore Offer Shares @S$0.266 by way of public offer · 69.25 Singapore Placement Shares @HK$1.2019 by way of placement Share capital (post invitation) : US$12 million (1.2 billion shares @US$0.01) Substantial shareholders : Mr Stanley Pen Use of proceeds : Estimated net proceeds of about HK$222.5 million will be used as follows: · HK$50 million to finance a portion of the capital commitment for acquisition of new production equipment · HK$35 million to purchase additional moulds for production of plastic casings · HK$31 million for realignment and enhancement of research and development capabilities · Balance of HK$106.5 million for additional working capital Listing status : Dual listing on HKSE and SES LISTING INDICATORS Adjusted NTA per Share : HK54.88 cents (post floatation) Premium over adjusted NTA : 116.8% Forecast FY99 EPS : HK14.30 cents Proforma fully diluted PER : 8.32 times Closing time and date : 12p.m. on 30 Sep 1999 __________________________________________________ HK$ millions FY96 FY97 FY98 1H99 -------------------------------------------------- Turnover ·Branded 891.7 1010.8 1724.3 1009.4 ·ODM 830.2 1013.9 1293.6 967.0 OperatingProfit 50.8 75.1 110.2 55.8 VAT refund 8.8 19.9 20.6 22.1 PBT 59.6 95.0 130.4 77.3 Tax (4.3) (7.0) (22.0) 2.7 Net Profit 55.3 88.0 108.4 80.0 EPS (cents) 5.53 8.80 10.84 8.00 ------------------------------------------------------------ Business -------- TPV holdings is engaged in the manufacture, design and sale of computer monitors and colour scanners. Since 1988, TPV Holdings has slowly climbed the ranks from 19th in 1996 to become the world's 4th largest computer monitor manufacturer in the first half of 1999. For 1999, it is looking for a HK$162.2 million (US$20.9 million) in net profit from sales of HK$4.5 billion (US$580 million). Sales are projected to grow to HK$5.4 billion (US$700 million) next year. Strengths --------- The Group intends to use part of the net proceeds to enhance their research and development capability. A core competitiveness of the Group lies in its ability to enhance the technology content of its computer monitors and develop new and competitively priced product in shorter time periods. Through redesigning of the computer monitors by reducing number of components, the Group ensures that production costs are lowered and at the same time quality is improved. The Group claims a low field failure rate of production of less than 1%. Stringent quality control attracts big-name customers. With a strong commitment to quality assurance, the Group has among its 67 ODM customers industry leaders such as IBM, HP, Siemens, Legend and Founder. Whilst the five largest ODM customers accounted for approximately 39.3% of 1H99 turnover, no single customer accounts for more than 12% of turnover. Products are well diversified across 30 different countries. As at 1H99, its turnover by geographical area are North America (28.0%), Europe (26.7%) and China (25.7%). It enjoys a first-mover advantage in China and its strong market share in China is significant as it is the fastest growing IT market in the world. Extensive distribution and after-sales network. With an experienced sales and marketing team and reputable brands (AOC, Envison and Amark), the Group hopes to expand further into high growth markets such as China, South America and Eastern Europe. Weaknesses ---------- The Group is excessively reliant on a principal supplier. As the Group relies on Fuqing Top Plastics Co., Ltd. for 95% of its plastic casings, any failure or delay in the delivery will hinder production process, thus affecting the business and profitability of the Group. The net profit margin is highly sensitive to the price movements of CRT-based computer monitors and CRTs. Though the net profit margin has grown from 3.2% in 1996 to 3.6% in 1998, its narrow margin is a source of concern for investors. Its management estimated that a US$1 difference between the unit selling price of computer monitors and the unit cost of raw materials would have an impact of US$2 million on the net profit for 1H99. The Group has relatively high leverage. The Group's current ratio of 1.06 is relatively low compared to some of its competitors such as Proview International Holdings Ltd (1.20), ADI (1.71) and Samsung Display Devices (1.50). Any adverse actions on the part of its suppliers and banks would affect the financial position of the Group. Whilst its gearing ratio of about 2.7 is high compared to Proview's 0.94, Samsung's 1.8 and ADI's 1.2, the Group has sufficient resources to service its debts. The cash balance of HK$325.9 million (US$42.0 million) and part of the proceeds of HK$106.5 million (US$13.7 million) from the Share Offer will ensure that the Group has adequate working capital. Cessation of VAT refund by FY99 and income tax exemption by FY2003. The VAT refund of approximately HK$22.5 million (US$2.9 million) and fiscal refund of approximately HK$17.8 million (US$2.3 million) will account for about 25% of net profit for FY99. As there is no further refund entitlement for the VAT in subsequent periods, there is a negative impact on the earnings of the company. Opportunities ------------- Global demand for computer monitors remains strong and looks to increase in years to come. With the increasing popularity of the Internet and multi-media applications, there is increasing demand for new computer monitors with higher resolutions and special features such as OSD and energy-saving devices. The demand for CRT monitors is forecasted to grow by at least 12% over the next 2 years whilst LCD monitors will see increasing demand from forecasted of 3.4 million units to 12.1 million units in the year 2002. The Group hopes to market 18 inch LCD monitors in FY2000 and will be looking for further business opportunities in other Internet related products such as high-end scanners and digital cameras. Threats The highly competitive computer monitor industry remains a concern. Whilst the Group has steadily increased its market share, it faces strong competition from companies like Samsung, Philips, Goldstar and ADI. It must be noted that the Group has managed to remain profitable as compared to some of its competitors partly because of its production efficiency and competitive cost structure. The product life cycle of computer monitors is relatively short. The Group spends about 1% of its turnover in research and development, thus ensuring that their time to market is 6 to 7 months compared to 10 to 14 months for its competitors. Impact due to the Taiwan earthquake on 21st September 1999. The Group does not sell any of its products in Taiwan and as such, there is no direct impact on the Group's overall sales. However, the Group commented that there might be near-term weakness in the PC and hence the computer peripheral market due to disruptions in the supply of PC components caused by the Taiwan earthquake. The stock is attractively priced. Based on comparative valuation, the stock is attractively priced at the prospective PER of 8.3 times compared to its competitors, Proview International Holdings Ltd's 11.56 times and Samsung Display Devices' 53.73 times. Despite the inherent business risks, we recommend SUBSCRIBE for TPV in view of its absolute low price, attractive PER and as an investment into the competitive computer monitor industry. Statement Pursuant to S.50, Securities Industry Act Phillip Securities Research Pte Ltd, its directors, and research staff have no interests in the securities recommended, and its associates may also have positions from time to time. Signed by : Tit Wei Han (Signed copy of recommendation available on file) |
| (Post 2 of 11040) 10/02/1999.03:19:00 |
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TPV Singapore IPO public tranche 23 times subscribed SINGAPORE (AFX-ASIA) - TPV Holdings Ltd said the public tranche of its Singapore offer in connection with a dual listing in Singapore and Hong Kong was 23 times subscribed at its close yesterday. The Singapore offer comprised a public offer of 7.70 mln shares priced at 0.266 sgd and placement of 69.25 mln shares. The offer in Singapore is being underwritten and placed by United Overseas Bank Ltd, it said. The Hong Kong offer comprises 179.55 mln shares for placement, 28.50 mln shares for a public offer and 15 mln shares for employees. The offer is priced at 1.19 hkd per share, or a prospective 1999 price/earnings multiple of 8.32 times on a proforma fully diluted basis. TPV manufactures computer monitors. ah/zr AFN HCR68-01Oct99 10:59 GMT AFX ; ASIA ; |
| (Post 3 of 11040) 10/05/1999.10:13:00 |
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TPV Hong Kong IPO 6.6 times subscribed HONG KONG (AFX-ASIA) - TPV Holdings Ltd said its Hong Kong IPO of 28.50 mln shares at 1.19 hkd per share was 6.6 times subscribed. Its Singapore IPO of 7.70 mln shares was 23 times subscribed, the company announced last week. The shares will start trading on October 8. TPV manufactures computer monitors. bur/sm AFN |
| (Post 4 of 11040) 10/22/1999.00:41:00 |
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Do anyone think this may be 1 of fund manager's favourite in the future ? It's mkt cap was also quite big, I think so (I think bigger than Nera). Prospectous/Reports from brokerages also good good. Trading pattern quite similar to Global Tech/Sunway. So, after Sunway, again, I'm waiting for this to trade for approx. 5 wks for further conclusion on TA. On FA, would sincerely like to hear views from Fun$ and others. Rdgs and thanks in advance |
| (Post 5 of 11040) 10/22/1999.14:33:00 |
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Gathered from HK press: Core business: production and sales of computer monitors; assembly and sales of scanners. annual output of 6m monitors, planned to increase to 8m Expected earnings growth 50%, with EPS of HK14.3c P/E of 7.3 (versus 0334--Proview Int @7.43 times) So far abt 50% of the total issued share capital has changed hands around/below IPO level Of $1.19 in both HKSE and SES. It smells like absorption ahead of a ramp to me. That is exactly what happened at Global Tech (now 170% above IPO) and Sunway Hldgs (currently up 20% and running on both the HKSE/SES). The trend for TPV shld be similar, so important to gather more ground feel/research together, especially now that Taiwan has more earthquakes which will disrupt production capacities. Look for us? OTHER DETAILS: HK public offer shares---28.5m placement shares ---179.55m Sing public offer shares---7.7 m placement shares ---69.25m Total issued to both mkts in HK/SES is 285 mil @ IPO price of HK$1.19. HK SIN High 1.29 1.38 Low 1.14 1.19 Vol 123.7m 32.82m* *Vol total is till 12.30pm 22/10/99 is 129.25 |
| (Post 6 of 11040) 10/22/1999.18:05:00 |
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Warren, thank u very much for the news attached. Do u hav any views in mind personally about this stock ? And would like to hear more views from others. Rdgs |
| (Post 7 of 11040) 10/23/1999.00:43:00 |
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Lion, my view is that there are hidden hands at work which have successfully depressed the stock price down to collect as much of the cheap scrip from all the disgruntled punters of the recent IPO. After all, since listing about 3 weeks ago, TPV shares have been trading mostly below the IPO level of HK$1.19, where as much as 55% of the entire company has changed hands. Assuming major shareholders still have their 70% stakes, then the free float appears to be rapidly cornered and the stock is getting ready for an easy upswing soon. In fact, judging by the trading pattern, TPV's daily volumes have been quite a bit higher over at HKSE than on SES. Also, the prices are more perky over there too, often trading a few cents ABOVE the levels in Spore. This is reminiscent of the similar goings-on at CM Tel, Global Tech & Sunway, where HKSE prices trade higher and these help lift the sentiment for TPV's stock prices at the SES. In time this too, will trigger a decent rally which we can benefit from. Just my 2.5c worth |
| (Post 8 of 11040) 10/23/1999.20:56:00 |
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Warren, thank u for the detail analysis. And I too, sensing that TPV maybe the next high-flyer after Global Tech & Sunway - but do not know how much will it be affected by Taiwan Earthquake. I've setting a tgt date at 1/11/99 (Monday) for 1st entry where if everything goes fine accordingly, we'll see a bottoming around this date (this is all sixth-sense, same to previously on Sunway which I didn't mention down here). Which is the 4th Monday since IPO listed. Rdgs (and of course, we can see that there's not much interest among the forumers on it) |
| (Post 9 of 11040) 10/28/1999.16:34:00 |
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Decided to take actions 2 days earlier. Got HK$1.03(x2) |
| (Post 10 of 11040) 10/31/1999.15:53:00 |
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Nope, no inside info on this one. Following reasons are given in support: (1) It is trading below its IPO. I can only think of one reason as to the cause: ill timing. (2) Hongkongers plan their IPO very carefully - they have a whole bag of tricks up their sleeves. Usually, they hold back on all the good stuff which would then be released shortly after the IPO, event after event. (3) I have always considered PC monitors to be in a class of its own in comparison with hardware generally. (4) There has been much talk about the financial courtship (of sorts) between Singapore and HK. (5) With big boys like IBM and HP under their belt, we can't be too far off track. (6) Their projected turnover of USD600m is a vast number as compared to its capitalisation. (7) All of the above signalled a buy since day one. But it is the volume of trade done today that caught my eye. (8) I also have a gut feel that all the ill-timed IPOs will find its feet again in the next couple of weeks. Wish me luck? |
| (Post 11 of 11040) 10/31/1999.15:54:00 |
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Just shifted the posting below from my homepage in line with the ongoing house revamp. Thanks. |
| (Post 12 of 11040) 11/03/1999.12:10:00 |
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Warr, Seems like it started to move today just after I make my EPS payment. What is your targeted price? I know nothing about this company, bought it purely based on the recommendation from you and Upjones. But it feels good to make money (big or small) out of other people's hardwork :) Thanks. |
| (Post 13 of 11040) 11/03/1999.12:44:00 |
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me bought some few days ago, lowest price being 1.04 and added some more this morning at 1.10/1.11 level and just bought one more at 1.17. lion, keep it up. see you are getting better and better already. if all goes well, we may see a real raging bull in a few weeks time. |
| (Post 14 of 11040) 11/03/1999.13:00:00 |
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Well done, Allee, I see you are a fearlessly disciplined investor: average UP, never down. Congratulations on your discipline. |
| (Post 15 of 11040) 11/03/1999.13:03:00 |
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Allee's bull market style is good for raging bull. Good luck. See his homepage for his pyramiding strategy. |
| (Post 16 of 11040) 11/03/1999.13:23:00 |
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Starchild, Thanks ever so much for your confidence. Stockpicking is not an easy task, especially on matters concerning the timing of entry (and exit). The usage of adjectives like "purely" (on the recommendation of...) is very worrying to the person making the recommendation or sharing his (or her) portfolio with others. It does me, as I would feel responsible for any losses caused to others as a result of my recommendations (no point debating WHETHER one SHOULD or SHOULD NOT feel like this: you simply cannot prevent feelings from arising). I suspect most, if not all, forumers here in Oldman's site are not the "cowboy" type (for want of a better word!), and any private agenda that each of us may have in making a posting ranks as secondary to the genuine intention to help each other. Notwithstanding, a seriously erroneous intepretation of charts or news or even fundamentals can be made (afterall, we're all human) and to buy on such recommendations may be equated with jumping off the edge without actually knowing the height of the fall. My recommendation? Do tread carefully and satisfy yourself as to the facts and opinion given in any recommendations. Hmmmm.... Come to think about it, I do wish my wife would just accept what I say without having the need to subject me to interrogatories. All said and done, here's to making some money together on this counter! (especially for my medical fees) |
| (Post 17 of 11040) 11/03/1999.14:04:00 |
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How I wish everyone understands what it means to listen and act on a recommendation. It will make those who are "cowboy" enough to make recommendations to rest easier, and carry lesser moral burden. Caveats are creeping in (perfectly justified, may I add) into this forum, and they clearly demonstrate the increasing level of sensitivity seen on this forum in recent days. THERE ARE NO EXPRESSED OR IMPLIED WARRANTIES - FOLLOWERS OF POSTINGS HERE DO SO AT THEIR OWN RISK, AND NOBODY ELSE'S. |
| (Post 18 of 11040) 11/03/1999.15:05:00 |
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UpJones, Like many have said, it's our own responsibilities if we choose to act on any recommendation. It is my own judgement call, and should not blame it on anyone else. So don worry, anyone acting on your recommendation should not be a burden to you. fyi, I do not agree with all the recommendations made by you or Lion. But for this counter, it makes absolute sense to follow based on your reasonings. However, I do feel that recommendations made without any basis are not too good. This is probably just my personal preference, and I simply choose to ignore such recommendations. It's common to have misunderstanding or to have fiery words flying around since we are all from different background, and with different characters. But I guess this is just part and parcel of such a forum, we just have to give and take a bit, be tolerant to differing views. There is nothing wrong to disagree with anything, and you don have to make others to agree with what you think is right. Good trading. |
| (Post 19 of 11040) 11/03/1999.15:13:00 |
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Starchild, Roger your msg, point taken in correct spirit, great stuff, make money together. |
| (Post 20 of 11040) 11/03/1999.15:23:00 |
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I also like to register my thanks to Lion and UpJones for their recommendation on TPV. I also checked on the stock, as what Starchild did, before buying. But if they did't highlight it, I probably would have missed it. A big thank you. |
| (Post 21 of 11040) 11/03/1999.15:41:00 |
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Congrats to all forumners here! That is the beauty and value of this site, and as stated below by Starchild on Wednesday, November 3, 1999 - 12:10 pm: "Warr...I know nothing about this company, bought it purely based on the recommendation from you and Upjones. But it feels good to make money (big or small) out of other people's hardwork. Thanks" Everyone benefits when we all come together to pool our resources and share--whether it is by gut feel, TA, fundamental or gossip. Only then can someone like Starchild (and ourselves too) get to know about the company and/or a trading opportunity. Remember, the market place is bigger than all of us (not matter how big we are individually) and the battle to fight is not AMONGST ourselves, but with ourselves. Whether you did participate in this trade directly or not, we have all won! Why? Because we have quality information at our own disposal to do as we like--something hitherto only available to the big boys! So lets all keep the integrity of this forum intact and post quality input and help police, and keep out the vagrants who are jealous of us and have destroyed other familiar chat sites with their personal brickbats! Just my 2.5c worth (actually I benefitted a lot from this stock idea too!) |
| (Post 22 of 11040) 11/03/1999.17:02:00 |
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Bought TPV 2lots @1.17 and 8 lots @1.18, thanks to Upjones & Co for their recommendation. The decision to buy was mine and mine alone no one forced me to buy. No venture no gain Have a Great Day |
| (Post 23 of 11040) 11/03/1999.17:41:00 |
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HOORAY !!! Just like Global Tech, than Sunway, and now - TPV ! Wooh! It was so so so similar to the 2 former. Congrats to all & myself. Rdgs |
| (Post 24 of 11040) 11/03/1999.22:03:00 |
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thanks for your compliment, upjohn and mccool. still learning and trying to be better with each round. now trying to do stock pick using ta and then check on fundamental instead of vice versa. threw up a few surprises including vdh. not in vdh, as i am not too keen with its fundamental but like to keep watch over it. lion, keep up your good work and your pot of gold will come soon, experience is the most important and next is to build up your fund in a few years time and you will have it made. |
| (Post 25 of 11040) 11/04/1999.01:05:00 |
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TPV HK$ - Facing multi-resist (tracing back to 1st few days of trading)  Sixth sense again - the next Sunway. Starchild (targeted price stated), I'm sorry to disappoint u again, this time my reasoning remains base on 6th sense. And, to read further, u may thought that I'm crazy ! Reasons & similarity in Global Tech, Sunway & TPV :- 1. All having a small surge in the 1st day of trading, yet subsequently went below IPO offer price. 2. 5th Week - this is the most amazing "phenomenon". All 3 counters happens to surge on the 5th wk of trading (that is the reason initially, I'm targeting 1st entry for TPV on 1/11/99) If everything went in "accordance", in the near-term, we should see TPV testing it's 1st day high of HK$1.38 b4 making substantial consolidation. And its trading volume should hit above 10,000lots very soon. Well, all in all comments - base on 6th sense (with less than 8% of technical) - Sunway making a 34% gain from a low of HK$1.05 in 6 wks, gaining 69% to HK$1.78 in 3 mths. - Targeting TPV towards HK$1.33 (34% gain from low of HK$0.99) by next wk. - Targeting TPV towards HK$1.67 (69% gain) by 5/1/2001 Everyday, I was "kek-sim" over Global Tech, I will put much concentration on both Sunway & TPV now. Rdgs |
| (Post 26 of 11040) 11/04/1999.09:59:00 |
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Added anoth 2lots at HK$1.20 (blame the POems, actually can get it at HK$1.16) nevermind |
| (Post 27 of 11040) 11/04/1999.10:32:00 |
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spring to live ! |
| (Post 28 of 11040) 11/04/1999.10:38:00 |
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Wishing its volume to cross above 10,000,000 shares today |
| (Post 29 of 11040) 11/04/1999.10:44:00 |
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Q-ing volume (buy/sell) looks just started to hots up. wonder ??? |
| (Post 30 of 11040) 11/04/1999.11:02:00 |
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3000lots, 7000 to go |
| (Post 31 of 11040) 11/05/1999.12:11:00 |
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Lion TPV showing slight weakness in terms of Stoc readings. But I am quite intrigued by ur posting on this chap. Joined u on the q but @ 1.18 (good price in cantonese .....sure sure rich) |
| (Post 32 of 11040) 11/04/1999.16:00:00 |
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Lion Need ur help on this TPV. Me first time buying this stk. Bot 5 x 1.23. If I want profit of S$200-300, how much must the price be in HK$??? Do keep me informed too if u feel tat this counter not rite... ;=>> Thanx. |
| (Post 33 of 11040) 11/04/1999.18:32:00 |
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Retro, mood badly affected by that msg. Will try to answer u 29 when I'm back at home. Rdgs |
| (Post 34 of 11040) 11/04/1999.21:09:00 |
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Retro, assume HK$1 = $0.215 $200 = HK$930 1 lot profit = HK$930 / 5 = HK$186 Plus brokerage (approx. 2.28% above yr purchase price) ie. breakeven at approx. HK$1.26 Add approx. HK$0.19 above the breakeven price Therefore, u will hav to wait TPV rise to a price of HK$1.45 for a profit of $200 with 5 lots. Rdgs |
| (Post 35 of 11040) 11/04/1999.21:15:00 |
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Retro, initially I also want to get below HK$1.18 but the POEMs !!! I almost get it at HK$1.17 Overall, hav average up to a price approx. HK$1.115 (4lots) I will keep averaging up the price in stages. Rdgs |
| (Post 36 of 11040) 11/05/1999.08:41:00 |
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Many Thanx Lion |
| (Post 37 of 11040) 11/11/1999.09:42:00 |
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The play is not over yet. Currently there are 823 lots on the sell side at HK$1.29. Do not be fooled by this 'scare' tactics. I am still holding mine (bought at HK$1.16 after selling my first batch which was bought at HK$1.05). My target price is around HK$1.36. Trade at your own risk. In my opinion, buying at the current price for contra is not advisable. |
| (Post 38 of 11040) 11/11/1999.16:58:00 |
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3rd entry at HK$1.24(2lots), bringing my average price to HK$1.178 for 6lots |
| (Post 39 of 11040) 11/15/1999.16:32:00 |
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noticed that someone is deliberately containing the price at 1.26-1.27 level today. the pattern is almost the same as mmi before the run up. i am in on this one at current level. do watch this counter closely. |
| (Post 40 of 11040) 11/17/1999.18:06:00 |
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4th entry last min b4 mkt close at HK$1.22(x2) again. Bringing average position to HK$1.17 Remains as 6lots as 2lots contra off (forget to pay leh) Rdgs (loyalty to TPV) |
| (Post 41 of 11040) 11/22/1999.19:14:00 |
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Looks like got to review it on TA. Think I've failed 6th sense this time. Will look further and see whether it is under force-selling today. Sigh..... (no sell, no real loss - still 30% believe in myself) |
| (Post 42 of 11040) 11/23/1999.20:21:00 |
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I think TPV suffer some spillover from today Sunway saga...anyway, I still think that the LCD market should reap some benefit from the China WTO. The plus is that the entry to WTO reduce the import taxes for the company's imported components, while on the other hand, it brings in more competitiors. But for long term, I believe that being the top 8 largest player globally and backed by KMP and Salim guys, it should not be too far back. Technically, cannot figure why. I hold some interests in this counter. |
| (Post 43 of 11040) 11/24/1999.01:40:00 |
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Simguanheng, I do also hv lots holding at 1.11 & re-buy at 1.21 expecting it to go beyong 1.5 . I guess the only reason I could give for its downside is due to the Y2K problem, where most electric products is not sell well till Y2K solve. I am holding them till next yr. No technical analysis for this counter at meantime. |
| (Post 44 of 11040) 11/27/1999.02:18:00 |
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Lion, here's the Candlesticks analysis which you requested for. You would have observed that I ordinarily do not like to post negative stuff.  |
| (Post 45 of 11040) 11/27/1999.14:10:00 |
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Upjones, thank u very much for yr chart. Sigh... perhaps got to admit wrong entry (near-term) and decided to cut loss. Rdgs & thanks |
| (Post 46 of 11040) 12/08/1999.17:37:00 |
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What a counter:-)??? I just sold mine @1.10 (bot @1.03)yesterday, it went up to $1.38 today. |
| (Post 47 of 11040) 12/08/1999.17:42:00 |
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Lion Ho Say Lio. Congrats. |
| (Post 48 of 11040) 12/08/1999.23:05:00 |
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bloody @ss, broker told me her broking house (morgan grenfall) called a buy on this counter target is 1.80 ... i asked when she said maybe next year ..px was 1.18 i ignored next hour ....1.3+++?!?!?1 siao bo ??? |
| (Post 49 of 11040) 12/09/1999.10:47:00 |
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TPV Holdings Wins Contract to Sell Monitors Worth $100 Million 12/8/99 21:35 (New York) Singapore, Dec. 9 (Bloomberg) -- TPV Holdings Ltd., China's largest maker of computer monitors by unit volume, said it will tie up with one of the world's top personal computer manufacturers in a $100 million deal to supply more than 1 million computer monitors next year. TPV did not identify the partner. The company also said it's on track to meet its profit forecast of $20.9 million for 1999. The company expects to produce 6 million units this year compared to 4 million last year. ``The group aims to solidify its position as one of the leading manufacturers of computer monitors and will enhance its research and development activities towards developing new Internet related products,'' said Jason Hsuan, chairman and managing director of TPV Holdings. TPV Holdings, biggest customers are International Business Machines Corp., Hewlett-Packard Co., and Siemens AG. The stock rose 5 cents, or 3.8 percent, to S$1.37. |
| (Post 50 of 11040) 12/09/1999.12:42:00 |
| Author : |
TPV Holdings Q3 production up 60 pct TPV Holdings Ltd said production in the third quarter was up 60 pct year-on-year. Output is expected to keep growing rapidly due to a new order for over 1 mln computer monitors next year from one of the top four PC makers, company chairman Jason Hsuan said. He declined to identify the PC maker but said the contract is worth over 100 mln usd. In 1998 the company produced 3.3 mln units. Hsuan told a press conference as a result of the new contract the company will ramp up capacity in the second quarter of next year above the planned hike outlined in its IPO prospectus. In the prospectus it said it planned to increase output capacity of cathode ray tube (CRT) monitorsto 8.0 mln units from 6.0 mln units . TPV's third quarter results are due to be released later today. He remains positive about the company's growth prospects because of projected growth in global monitor demand to 140 mln units in 2002 from about 100 mln now and a reduction in the number of monitor manufacturers. "Two to three years ago there were more than 50 manufacturers, now there are less than 25 left," Hsuan said. Other favourable factors include the expected admission of China to the WTO, which should see the 15 pct tariff on imported components being reduced and make it easier for the company's products to compete against parallel imports to China. All of TPV's production is in China, at plants in Fuqing and Beijing. Despite the size of the new contract, Hsuan said he expects no single customer will contribute more than 15-20 pct of total turnover next year. TPV is the fourth biggest monitor manufacturer in the world but could be in the top two within 3-4 years, he said. TPV has forecast net profit of at least 20.9 mln usd this year on sales of around 500 mln usd. Last year turnover was 388.90 mln and net profit was 13.97 mln. |
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