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(Post 1 of 331) 08/10/2000.16:58:00 |
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Yet another one: VibroPower Corp, which makes custom-built power generators for industry, gets in-principle approval for SGX listing. Got this from DJ Profit in 1999 at S$1.6 million on revenue of S$15.2 million. Profit of S$2 million for first four months of 2000 exceeds last year's level. Main markets are Singapore and Hong Kong |
| (Post 2 of 331) 08/11/2000.02:19:00 |
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VibroPower Corp receives in-principle approval to list on SESDAQ SINGAPORE (AFX-ASIA) - VibroPower Corp Ote Ltd said it has received in-principle approval from the Singapore Exchange to list its shares on SESDAQ. OCBC Ltd has been appointed manager for its listing exercise, the company said in a statement. VibroPower provides generators. Exports accounted for about 61 pct of the group's turnover in 1999, with Singapore and Hong Kong as its main markets. The company designs, manufactures, supplies and installs generator sets. It also manufactures specialised rubber tyre gantry crane generators which are used in Asian ports. In 1999, the company posted pretax profit of 1.6 mln sgd on revenue of 15. 2 mln sgd. In the first four months of this year, the company recorded pretax profit of 2.0 mln sgd. |
| (Post 3 of 331) 08/15/2000.15:14:00 |
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What's the amount of share offer to public and placement and what's the price? Friends,pls advice. |
| (Post 4 of 331) 08/15/2000.17:37:00 |
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Offer 30 lots placement share by my remisier in ke,don't know whether to take up or not,friends,pls advice |
| (Post 5 of 331) 08/15/2000.17:57:00 |
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Vinhan, Small issue at 30+c. Just take it. Adios :) |
| (Post 6 of 331) 08/15/2000.18:14:00 |
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Issue Statistics: Offer shares: 26m representing about 30% of the enlarged capital (5m public, 6.5m reserved and 14.5m placement). Of the 26m shares, about 8.6m are vendor shares and 17.4m are new shares. Price: S$0.32 to S$0.35 Launch date: Next week Underwriter: OCBC Bank Adios :) |
| (Post 7 of 331) 08/15/2000.20:26:00 |
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To Candle Tks for the info. I am still considering taking up the placement share as i think it should be classified under the construction sector and i am a bit cash tight but also do not want to miss out a possible profitable offer. i am in a dilemna now. Nowadays ipo market is crazy.I don't expect NEW WAVE to debut so strongly and good share like SATS and SIA ENG sink. Do you think vibropower can fly? Pls advice,tks in advance |
| (Post 8 of 331) 08/15/2000.20:39:00 |
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Vinhan, I actually applied for 250k worth of New Wave before its placement starts. Unfortunately, the counter was cornered even before its placement was started!!! Therefore I expected New Wave to fly before its debut, which it did. As for Vibropower, the issue is small. So worth a STAG. I will know tomorrow if I can get any placement shares. If I can't get, it should perform on the debut. Adios :) |
| (Post 9 of 331) 08/15/2000.20:51:00 |
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To CANDLE How many placement share you apply and through which broking firm? I most likely will accept the offer. As if say issue price is 35 cents,if debut at 40 cents,can make about $1200,of course could vice versa,but no venture no gain,that's the rule of the game. Do you think it will fly? Thank a lot |
| (Post 10 of 331) 08/16/2000.12:06:00 |
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Any tips on this IPO? |
| (Post 11 of 331) 08/16/2000.18:09:00 |
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Issue Stats Shares offered : 26m shares (8.7m vendor, 17.3m new), 30% of enlarged capital. - Public tranche 5m - Placement 21m (including 6.5m reserved) Issue Price : S$0.32 to S$0.35 P/E (FY12/00) : 7.96x to 8.7x Pre-IPO net gearing : 0.5x Post-IPO : net cash Target launch : end-Aug Prelim View - Decent fundamentals and small issue size offers Stag opportunity The global generator market is estimated to worth S$10bn, with Asia accounting for S$3.1bn. Outlook for the sector is underpinned by evolution of the digital economy that will lead to rising consumption of electricity and hence complementary demand for generators as power supply back ups. An example of the new application includes the increasing set up of large data centre in Europe, and the trend is catching up in Asia. VibroPower, which has only established a stronger foothold in the HK and S'pore markets, has vast untapped opportunities, especially in countries that do not have reliable power supply. Growth momentum is however, dependent on the ability to secure projects rapidly. We think the company is promising under the capability of the two founding members (who has 20 years of experience working for MCNs previously) and five other marketing personnel (touted to be the largest team in S'pore). Already, the group has swiftly extended its presence to 17 countries currently, from 11 countries six months back. We understand that VibroPower is seriously reviewing potential merger/acquisition targets (manufacturing plants) in Europe that will not only provide alternative sourcing at favourable exchange rate, but will also be used as the stepping stone to penetrate into new markets Africa and the Middle East. Other expansion plans include investment/strategic alliance with sub vendors that can provide immediate contribution to the bottom line. There is no direct listed comparable to VibroPower. LJ is involved in larger scale power generator projects (largely BOT) in the Philippines, with the segment accounting for only 23% of group's profits and 6% of revenue. SMB United and Sesdaq aspirant Sunlight provide sub components to generator sets. P/E valuations VibroPower FY12/00 : 7.96x - 8.7x LJ (NEUTRAL) FY12/00 : 10.3x SMB United (no coverage) FY12/99 : 12x Sunlight (no coverage) FY3/00 : 9.3x (based on IPO price of 26cts; to debut on Aug 18) Business Profile A home-grown specialist in design, manufacture and maintenance of custom-build generators that provide standby power supply for commercial, industrial and residential buildings, as required by law in some countries. Its three main products are : (i) stationary generators with capacity ranging from 300kVa to 2,000kVa (ii) mobile generators for used at ports and marine vessel; capacity of 200kVa to 500kVa (iii) portable generators used in households, supermarkets, dept stores, etc. Although set up only four years back, VibroPower counts an impressive list of clientele that are largely government-related corporations such as JTC, Ministry of Home Affairs, Mindef, HDB, Ministry of Finance in Brunei and the public housing in HK (one of the six brands approved by the HK Housing Authority). Management estimates the group has 20% to 23% market share in S'pore. Proceeds Utilisation Approx S$5m net proceeds raised will be used to : * $0.8m to repay outstanding property loan * $3.5m for working capital, jvs and acquisitions * $0.5m to purchase new equipment for testing that will enhance capacity * balance - upgrading of web-ite/communications and installation of technical library onto the web-site. Margins can vary widely for different contracts secured, depending on the extend of customisation, which Vibropower niches in. Of course economies of scale would also have a significant leveraging effect. Worth noting is the group's earnings resilience during the 97/98 financial crisis, reflecting the defensive nature of the business. |
| (Post 12 of 331) 08/29/2000.16:06:00 |
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PRESS RELEASE ============= VibroPower launches IPO of 26.25 million shares at $0.33 each ·From business inception to a SGX listing in just 5 years Singapore – 29 August 2000 – Home-grown VibroPower Corporation Limited (“VibroPower”), an integrated specialist in the design and manufacture of custom-build power generators primarily for use in infrastructure developments, commercial, industrial, public and residential buildings; today launches its initial public offer of 26.25 million ordinary shares of $0.05 each, at S$0.33 a share in conjunction with its admission to the Official List of SGX Sesdaq. The invitation comprises 17.5 million new shares and 8.75 million vendor shares, and represents 30% of VibroPower’s enlarged share capital. Of the total issue, 5.0 million shares are available for public subscription, while 5.5 million shares have been reserved for employees, independent directors and business associates who have contributed to the success of the Group. The balance 15.75 million shares will be offered by way of placement. At an offer price of S$0.33 per share, the forecast price earnings ratio based on the forecast net earnings per share of 4.02 cents for the financial year ending 31 December 2000, is 8.21 times while the net tangible assets per share based on the post-invitation share capital of 87.5 million shares is 9.60 cents per share. “While our major markets have been Singapore and Hong Kong, we see tremendous untapped potential beyond the region in the various generator market segments. The whole team has been very motivated by our IPO. We hope to capitalise on the growth opportunities. In addition, a Singapore-listed company status serves to enhance our credibility in our targeted international markets,” said Mr Benedict Chen, Executive Chairman and Joint Managing Director. According to a report on the power generation industry in the June 2000 issue of European Power News, worldwide market demand for generators is forecast to be worth US$5.8 billion. To capitalize on the market potential, VibroPower’s growth strategies include: § strengthening its market presence by increasing awareness of the “VibroPower” brand name; § enhancing its in-house expertise and capabilities; § strengthening working relationships and rapport with customers and suppliers; and § pursuing expansion opportunities, e.g., venture into new geographical markets and enlarge its customer base through new distributors and alliance partnerships VibroPower plans to use the estimated net proceeds from the issue of the new shares of approximately S$4.9 million as follows: § approximately S$0.5 million will be used to purchase additional plant and machinery; § approximately S$0.2 million will be used to upgrade its existing website to provide customers with on-line access to detailed information on its products; § approximately S$0.8 million will be used to reduce bank loans; and § the balance S$3.4 million will be used for general working capital and to fund future business expansions, including acquisitions and joint ventures FY2000 turnover is forecast at $26.5 million, representing an increase of 74.3% or $11.3 million from $15.2 million in FY1999; while FY2000 profit before tax is forecast at $4.1 million. In the first four months ended 30 April 2000, the Group has already achieved 35.8% and 48.0% of the projected turnover and profit before tax respectively. Between May and July 2000, sales of $6.1 million have been achieved. As at 31 July 2000, confirmed orders of $9.3 million representing 35.1% of the total forecast turnover have been secured from customers, and are expected to be fulfilled in FY2000. Oversea-Chinese Banking Corporation Limited is the manager, underwriter and placement agent for the IPO. The public offer will close at 12.00 noon on 6 September, 2000. Trading is expected to begin on 8 September, 2000. # # # About VibroPower The Group’s principal activities are the design, manufacture, supply, installation, commissioning and servicing of generator sets. These can be categorized into three main groups: stationary generators which provide back-up to the main power supply, mobile generators which are used at ports and on marine vessels, and portable generators which provide power to off-site locations and emergency supply to homes in the event of a power failure. Since the Group’s inception in July 1995, VibroPower has quickly established a track record for quality and on-time delivery, as reflected by its customer base and major projects clinched. These major contracts include the Ministry of Home Affairs Building, HDB Centre in Toa Payoh, Ministry of Defence, Ministry of Finance Building in Brunei, River Trade Terminal, Hong Kong and Grainger Inc., USA. In the past 3 years, the company has delivered more than 80 sets of mobile rubber tyre gantry crane generators to ports in HK, Indonesia, Japan, PRC, Taiwan, Thailand, USA and Yemen. VibroPower is one of the 6 brands of generators approved by the Hong Kong Housing Authority for use in their public housing projects – over 130 units of VibroPower gensets have been installed in H.K. Housing Authority and HDB projects in the past three years. Today, VibroPower’s diverse in-house skill sets and facilities have enabled the Group to offer customers value-added services, such as the design and manufacture of add-on options such as noise and vibration control features in our generator sets, and prompt after-sales service and maintenance support. >end Issued for and on behalf of VibroPower Corporation Limited For more information, please contact: Maxcom Communications Pte Ltd William CHIA, william@maxcom.com.sg Mona LEONG, mona@maxcom.com.sg Tel: 832 7711 Fax: 832 7712 |
| (Post 13 of 331) 08/29/2000.23:49:00 |
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think its worth a storm |
| (Post 14 of 331) 08/30/2000.02:05:00 |
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VibroPower launches IPO of 26.25 mln shares at 0.33 sgd each SINGAPORE (AFX-ASIA) - VibroPower Corp Ltd said it has launched an initial public offering of 26.25 mln new and vendor shares at 0.33 sgd each. The IPO, which includes 8.75 mln vendor shares and 17.50 mln new shares, comprises a retail tranche of 5.0 mln shares, placement tranche of 15.75 mln shares and 5.50 mln shares reserved for employees and business associates. The IPO, which is managed and underwritten by Oversea-Chinese Banking Corp, closes on Sept 6 and trading on SESDAQ is expected to begin on Sept 8. Of the net proceeds of 4.90 mln sgd, 800,000 sgd will be used to repay bank borrowings, 500,000 sgd for purchase of machinery, 200,000 sgd for internet-related investments and the balance of 3.40 mln sgd will be used for working capital and to expand its business. VibroPower, which designs and manufactures electric generators, achieved a net profit 1.11 mln sgd on sales of 15.168 mln sgd in 1999, compared to a net profit of 484,000 sgd on sales of 16.36 mln sgd in the previous year. Based on 1999 earnings, VibroPower is offering its shares at a historical price-earnings ratio of 20.75 times. Prospective PE ratio, however, will fall to 8.21 times if forecast earnings for 2000 is achieved, it said. The company said it expects to achieve a net profit of 3.0 mln sgd on sales of 26.50 mln sgd this year. In the four months to April, the copmpany said it has already achieved 35.80 pct of its forecast sales for the current year. The company said it is targetting to pay a dividend of 0.80 cents this year. |
| (Post 15 of 331) 08/31/2000.12:07:00 |
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Heard that the bulk of the placement shares are with big time institutions like NTUC.Anyone can verify? Apparently some of the retail clients who asked for 1 million shares were only alloted 5 miserable lots. |
| (Post 16 of 331) 08/31/2000.12:17:00 |
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This is real bad. I am alloted 2 lots only, although I did not indicate my placement size. Adios :) |
| (Post 17 of 331) 08/31/2000.14:55:00 |
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Sigh..... was not alloted any though I applied for 20 lots..... Broker told me that there was overwhelming response for this counter.... Think gotta try my luck @ the atm already. |
| (Post 18 of 331) 09/03/2000.15:19:00 |
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With such a small issue, why should NTUC be interested? Can it be that it is just for some short term confidence building into the market? If that is so, it should appy to across the board to be fair to all ivestors. hhmmmm.....?????? Will keep a watch on this, if it is true worth a punt at the atm. ciao ciao |
| (Post 19 of 331) 09/03/2000.17:21:00 |
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SUBSCRIBE/STAG why i said that? becos if i can't get from placement/atm, i will stag and buy back at lower prices...would compare it with the likes of asia power, etc...check the pe and you should now how much it will be trading at. this is a mid-long term play...like what the propsectus says, power industry is resilence to crisis/inflation, etc...you still need to turn on the lights in the dark during those times what...haha. |
| (Post 20 of 331) 09/03/2000.20:41:00 |
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Historical P/E ratio of 20 times seems expensive. Forget about its target earnings (which would reduce P/E to 8 times) since it is still an uncertainty. Dun believe in empty promises ! |
| (Post 21 of 331) 09/03/2000.21:30:00 |
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How about LJ? Vested interests |
| (Post 22 of 331) 09/05/2000.00:27:00 |
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Hi, this is the first thime that i am posting a message here. After learning so much from other contributor, I thought I may provide some information that may be of use with regards to the generators industry: The following information may be helpful for someone who is considering applying for this IPO: 1) There are at least 3 companies(if not more) that are of the same size and in the same busines in Singpaore (one of them is a fully own subsidary of a listed company). 2) All these companies had the capabilities(and had supplied) to supply generators for the powering of the quay Cranes/Transtainers. 3) The generators of at least two of the companies are also approved vendors for the housing authority in HongKong. In a nutshell, the company is operting in an enviroment that is also highly competitive. |
| (Post 23 of 331) 09/05/2000.23:30:00 |
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Both Asiastock-watch and Netresearch are recommending Vipro Power as a stag. Both portals are widely followed. |
| (Post 24 of 331) 09/07/2000.15:15:00 |
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NTA@9.5c .AT 33c it is expensive. |
| (Post 25 of 331) 09/07/2000.16:32:00 |
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Any idea how many times subscribed? |
| (Post 26 of 331) 09/07/2000.19:45:00 |
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11.5 times Is this a good rate considering the poor sentiments?  |
| (Post 27 of 331) 09/07/2000.21:28:00 |
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For Immediate Release: VibroPower Corporation’s IPO - 11.6 times subscribed ================================================== Singapore – 7 September 2000 – VibroPower Corporation Limited, a home-grown specialist in the design and manufacture of custom-build generators primarily for use in infrastructure developments, commercial, industrial and residential buildings; is pleased to announce that the Group’s initial public offer at $0.33 per share, based on the 5.0 million Offer Shares available for public subscription, has been 11.6 times subscribed. However, based on the enlarged number of 5.005 million Offer Shares (taking into account 5,000 Placement Shares in respect of invalid applications), the offer to the public is approximately 11.5 times subscribed. The invitation in respect of 26.25 million shares of $0.05 each comprised a public tranche representing 19 percent of the invitation, and a placement tranche of 21.25 million shares, which included 5.5 million shares reserved for employees, independent directors and business associates. The total issue represents approximately 30% of VibroPower’s enlarged issued and paid-up capital of 87.5 million shares. At the close of the invitation at 12 noon on 6 September 2000, there were 4,189 valid applications for a total of 57.775 million shares, for the 5.0 million Offer Shares available to the public for subscription. Save for applications for an aggregate of 5,000 Placement Shares which were invalid, the 21.25 million Placement Shares were fully taken up. Trading is expected to commence on 8 September 2000. “We thank everyone for their support of VibroPower and will do our utmost to maximize growth and shareholder value,” said Mr Benedict Chen, Executive Chairman and Joint Managing Director, VibroPower Corporation Limited. Net proceeds from the issue of new shares is approximately $4.9 million, of which $0.5 million has been earmarked to purchase additional plant and machinery, $0.2 million to upgrade its existing website, and $3.4 million as working capital and to fund future business expansions and acquisitions; while $0.8 million will be used to repay bank borrowings. Based on the offer price of $0.33 per share, the forecast price earnings ratio based on the forecast net earnings per share of 4.02 cents for the financial year ending 31 December 2000, is 8.21 times while the net tangible assets per share based on the post-invitation share capital is 9.60 cents per share. Oversea-Chinese Banking Corporation Limited is the manager, underwriter and placement agent for the IPO. #### Note: Appended below are details on basis of share allotment extracted from the submission to the SGX by OCBC Bank's Corporate Finance. The full submission can be obtained from SGX's website under OCBC. To ensure a reasonable spread of shareholders of the Company, the Board of Directors of the Company has decided on the following basis of allotment:- (Pls note order of information: Range of Offer Shares applied for ('000) / Balloting Ratio / No. of Offer Shares Allotted per Successful Applicant ('000) / Percentage of Total No. of Offer Shares Available to the Public (%) / No. of Successful Applicants 1 / 10 : 20 / 1 / 10.67 / 534 2 to 9 / 10 : 20 / 2 / 33.45 / 837 10 to 49 / 11 : 20 / 3 / 35.54 / 593 50 to 99 / 12 : 20 / 3 / 5.45 / 91 100 to 499 / 13 : 20 / 5 / 12.49 / 125 500 and above / 15 : 20 / 10 / 2.40 / 12 Total: 100.00% / 2,192 successful applicants ### Issued for and on behalf of VibroPower Corporation Limited by: Maxcom Communications Pte Ltd William Chia, william@maxcom.com.sg Mona Leong, mona@maxcom.com.sg Tel: 832 7711 Fax: 832 7712 |
| (Post 28 of 331) 09/07/2000.22:57:00 |
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| (Post 29 of 331) 09/07/2000.23:02:00 |
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my earlier posting were extracts from an announcement made by Oversea-Chinese Banking Corporation Limited For and on behalf of VibroPower Corporation Limited on 7 September 2000 and was Submitted by Wong Bee Eng, Head, Corporate Finance, OCBC Bank on 7 September 2000 to the SGX |
| (Post 30 of 331) 09/08/2000.10:12:00 |
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It seems that sentiment is so poor that a good stock like Vibro is being ignored. Despite analysts' call for a fair pricing of around $0.4, there does not seem to be any interest in it. Come the month of October when brokerage fee goes up, interest in IPO may die down further. It seems that liberalization of the market does not seem to facilitate small traders.  |
| (Post 31 of 331) 09/08/2000.18:59:00 |
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Observer is absolutely correct about the generator business. There are also many major brand names that are many times larger. They have not only economies of scale but even ownership of the the engine (the most costly and critical component of the generator). Looks like the forcasted PE may be difficult to achieve. Based on historical PE of 20.75, 33 cents is definetely expensive. |
| (Post 32 of 331) 09/09/2000.01:45:49 |
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VibroPower IPO public shares 11.6 times subscribed
SINGAPORE (AFX-ASIA) - VibroPower Corp Ltd's 5.0 mln offer shares to the public was 11.6 times subscribed, Oversea-Chinese Banking Corp Ltd said in a statement. VibroPower received 4,189 applications for 57.775 mln shares for the 5 mln offer shares, it said. The company offered 26.25 mln new and vendor shares at 0.33 sgd per share under its IPO exercise. |
| (Post 33 of 331) 09/09/2000.01:53:42 |
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STOCKWATCH: VibroPower slightly higher vs IPO price
SINGAPORE (AFX-ASIA) - VibroPower Corp Ltd shares were slightly higher than their IPO price in midmorning trade, with most investors considering the stock more of a long term play, dealers said. VibroPower offered 26.25 mln new and vendor shares. The retail tranche of 5.0 mln shares was 11.6 times subscribed. At 10:42 am, VibroPower was trading at 0.34 sgd, 3 pct higher than the IPO price of 0.33 sgd, on volume of 9.3 mln shares. It opened at 0.345 and peaked at 0.35. The Straits Times index was up 1.57 points at 2,143.06. "This stock is more of a long-term play. It is quite difficult for investors to be interested (in the company) in the short term," an analyst with a local brokerage said. VibroPower manufactures power generators for the Hong Kong and Singapore markets. The analyst said that VibroPower's growth will depend on the company expanding beyond its existing markets although the two countries are "big markets for generators." "Moving out of Hong Kong and Singapore would be the key driver of growth. If they can sell to Europe, U.S. or even China, then more investors might show interest," he said. He is looking at a long term price target of 0.46 sgd based on his forecast net profit of about 4.0 mln sgd next year, giving a price-earnings ratio of 10 times. In 1999, the company's net profit reached 1.110 mln sgd on sales of 15. 168 mln. It is expecting a net profit of 3.0 mln sgd on sales of 26.5 mln this year. |
| (Post 34 of 331) 09/13/2000.17:31:18 |
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Strangely quiet for this recently IPO counter here!. |
| (Post 35 of 331) 09/22/2000.16:33:21 |
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When will 1st half earning come out ?
From the prospectus, looks like earnings this year will triple. At $0.24, PE for yr 2000 will be less 6 |
| (Post 36 of 331) 09/29/2000.01:08:46 |
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VibroPower H1 net profit pre-extras 1.740 mln sgd vs 619,000 sgd
SINGAPORE (AFX-ASIA) - VibroPower Corp six months to June results: Net profit before extraordinaries - 1.740 mln sgd vs 619,000 sgd Sales - 14.637 mln sgd vs 6.266 mln Pretax profit - 2.369 mln sgd vs 873,000 sgd EPS - 2.49 cents vs 0.88 In a statement, the company said it expects to achieve the 2000 forecast in its IPO prospectus. In the prospectus, the company said it will achieve a net profit of 3.0 mln sgd, pretax profit of 4.10 mln sgd, and sales of 26.50 mln sgd this year. |
| (Post 37 of 331) 09/29/2000.05:32:22 |
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To Brothers, is brand name important in generator business ?
If Vibro can achieve earnings as in prospectus(which looks achievable based on half-yearly statement), at 0.24, PE for yr 2000 will be about 6. There is no debt as it repaid all borrowings according to the half-yearly statement. |
| (Post 38 of 331) 11/14/2000.17:57:40 |
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KepSec 29/9/00
VibroPower's robust interims were above expectation Recommendation: BUY; Price: S$0.25 VibroPower’s (VP) interim results were above expectations. The group posted a 181.0% increase in its 1H00 PAT. Net profit increased from $0.6m in 1H99 to $1.7m in 1H00. This is above our full-year FY00 PAT expectation of $3.0m. Given the robust interims, we are re-rating our FY00 PAT forecast upwards by 16.7% to $3.5m. Turnover increased by 134.0% from $6.2m in 1H99 to $14.6m in 1H00. This was due to higher sales of stationary and mobile generators to public housing projects in Hong Kong, the Ministry of Home Affairs and Ministry of Foreign Affairs buildings in Singapore and projects in China. PBT grew by 171.0% from $0.9m to $2.4m. Apart from strong revenue, PBT grew because of improved margins. VP’s operating margins improved from 17.5% in 1H99 to 17.9% in 1H00. Despite increased staffing costs in its manufacturing and marketing departments and higher interest expenses, VP’s operating margins increased because it was able to improve the overall operational productivity. Fundamentally, VP boasts of strong earnings prospects. VP is a niche player in the generator field. It intends to expand future revenue and profits by going into larger markets and providing more related products to its customers. It also boasts of a strong management team with an average 20 years experience in manufacturing generators. Its contracts with government-linked companies in Singapore and HK with a $40m order book (two years of work) will stand it in good stead. Given the significant 25% share price retracement since its 33cts IPO listing, VP is an undervalued stock. At single digit prospective PERs of 5.3x and a 14-15% PAT growth over the next two years, this stock boasts of undemanding valuations despite some EPS dilution. |
| (Post 39 of 331) 11/14/2000.18:06:19 |
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Kep Sec 9/10/00
Director accumuluating shares in VibroPower Recommendation: BUY; Price: S$0.23 Given the significant 30% retracement in share price since its 33cts IPO price, one of Vibropower’s directors, Mr Benedict Chen Onn Meng, has expanded his stake in the company further. Mr Chen bought 100,000 shares at 23cts, and this expanded his stake from 7.0% to 7.2% or a total shareholding of 6.2m shares. Fundamentally, VP boasts of strong earnings prospects. VP is a niche player in the generator field. It intends to expand future revenue and profits by going into larger markets and providing more related products to its customers. It also boasts of a strong management team with an average 20 years experience in manufacturing generators. Its contracts with government-linked companies in Singapore and HK, worth some $40m (2 years of work), will also stand the company in good stead. We tend to concur with the director’s purchase because Vibropower is currently very undervalued despite its robust earnings prospects. At single digit prospective PERs of 4.9x and a 14-15% PAT growth over the next two years, this stock boasts of undemanding valuations despite some EPS dilution. |
| (Post 40 of 331) 02/23/2001.23:16:55 |
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INCORPORATION OF SUBSIDIARY
The Directors of Vibropower Corporation Limited ("the Company") wish to announce that the Company's wholly-owned subsidiary, Vibropower Pte Ltd, has incorporated a wholly-owned subsidiary, Vibropower (China) Pte Ltd. The authorised capital of VCPL is $100,000 made up of 100,000 ordinary shares of $1.00 par value each and the issued and paid-up capital is $2.00. The principal activities of VCPL are investment holding, marketing and promotion. The investment by the Company is not expected to have any material effect on the earnings per share or net tangible assets per share of the Vibro Group.No Director or substantial shareholder of the Company has an interest, direct or indirect, in this transaction. Submitted by Kang Beng Chiang, Joint Managing Director on 23/02/2001 |
| (Post 41 of 331) 02/23/2001.23:17:47 |
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INCORPORATION OF SUBSIDIARY
The Directors of Vibropower Corporation Limited ("the Company") wish to announce that the Company has incorporated a wholly owned- subsidiary GMTM Holdings Pte Ltd ("GMTM"). The authorised capital of GMTM is $100,000 made up of 100,000 ordinary shares of $1.00 par value each and the issued and paid-up capital is $2.00. The principal activity of GMTM Holdings Pte Ltd is investment holding. The investment by the Company is not expected to have any material effect on the earnings per share or net tangible assets per share of the Vibro Group. No Director or substantial shareholder of the Company has an interest, direct or indirect, in this transaction. Submitted by Kang Beng Chiang, Joint Managing Director on 23/02/2001 |
| (Post 42 of 331) 02/26/2001.22:00:32 |
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Vibropower 2000 net profit pre-extras 3.043 mln sgd vs 1.110
Source : AFX SINGAPORE 18:21 26/02/2001 SINGAPORE (AFX-ASIA) - Vibropower Corp 2000 results: Net profit before extraordinaries - 3.043 mln sgd vs 1.110 mln Extraordinary loss - 19,000 sgd vs nil Net profit - 3.024 mln sgd vs 1.110 mln Sales - 25.382 mln sgd vs 15.168 mln Pretax profit - 4.117 mln sgd vs 1.599 mln EPS - 4.01 cents vs 1.59 Final div - 0.80 cents vs nil Special div 0.55 cents vs nil |
| (Post 43 of 331) 02/27/2001.19:20:33 |
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VibroPower powers its way to a 174% jump in net profit to $3 million
·Group announces maiden dividend of 27% or 1.35 cents gross per five-cent share to reward shareholders Singapore – 26 February 2001 – Home-grown VibroPower Corporation Limited (“VibroPower”), an integrated specialist in the design and manufacture of custom-build power generators, has posted a 174 per cent jump in Group net profit after tax to $3.0 million in its maiden FY2000 annual results as a listed company compared with $1.1 million previously. The company was listed on SGX-SESDAQ on 8 September 2000. VibroPower, which released its unaudited FY2000 final results today, reported that the profit increase was achieved on the back of a 67% increase in Group turnover to $25.4 million against $15.2 million in FY1999. VibroPower Executive Chairman Mr Benedict Chen, said: “ We are very pleased with the strong increase in our Group turnover and net profit for FY2000. This was due to our higher sales of stationery and mobile generators to the public housing projects in Hong Kong, the Ministry of Home Affairs and Ministry of Foreign Affairs buildings in Singapore and projects in China.” Mr Chen, who is also Joint Managing Director of VibroPower, said: “ In consideration of the good performance of VibroPower, the directors are proposing a final maiden dividend of 27 per cent gross, or 1.35 cents per ordinary share of 5 cents par each to reward our loyal shareholders. The dividend, less tax at 25.5 per cent, will be paid in May 2001.’’ At the pre-tax level, the Group recorded a 159 per cent jump in profit before tax to $4.1 million compared with $1.6 million in FY1999. VibroPower said the Group has achieved a pre-tax profit margin of 16.1 per cent for FY2000 compared to 10.5 per cent in the previous year. Operating expenses for FY2000 was $2.9 million, representing an increase of 49 per cent from $2.0 million in FY1999 due mainly to an increase in staffing in the Group’s manufacturing and marketing departments, and increase in its marketing and promotional expenses. Depreciation and amortization increased by 57 per cent to $276,000 from $176,000 previously. VibroPower said the increase in depreciation, which was due to the addition of machinery and computer equipment, also contributed to the operating expenses. Group income tax increased by 120 per cent to $1.1 million compared with $489,000 previously while extraordinary loss was $19,000 against none in FY1999. The Group’s segmental results showed that stationery generators accounted for 93 per cent of turnover while mobile generators was next at 6 per cent and portable generators accounted for the remaining 1 per cent. In terms of geographical breakdown, Singapore was the largest market representing 41 per cent of turnover while Hong Kong was next at 40 per cent while the rest of the world accounted for the balance 19 per cent. Group earnings per share based on net profit after tax and existing issued share capital of 75,833,333 shares on a weighted average basis was 4.01 cents against 1.59 cents previously while net tangible asset backing per ordinary share was 11.51 cents in FY2000 against 2.97 cents in the previous year. NTA per share was computed based on the issued share capital at year end of 87,500,000 shares. On prospects for the current year, directors said that barring any unforeseen circumstances they are cautiously optimistic on the regional outlook for the Group’s generators business and expect the Company to continue to be profitable. # # # About VibroPower The Group’s principal activities are the design, manufacture, supply, installation, commissioning and servicing of generator sets. These can be categorized into three main groups: stationary generators which provide back-up to the main power supply, mobile generators which are used at ports and on marine vessels, and portable generators which provide power to off-site locations and emergency supply to homes in the event of a power failure. Since the Group’s inception in July 1995, VibroPower has quickly established a track record for quality and on-time delivery, as reflected by its customer base and major projects clinched. These major contracts include the Ministry of Home Affairs Building, HDB Centre in Toa Payoh, Ministry of Defence, Ministry of Finance Building in Brunei, River Trade Terminal, Hong Kong and Grainger Inc., USA. Over the last three years, VibroPower has supplied more than 150 units of VibroPower gentsets to the Hong Kong Housing Authority for use in their public housing projects. Today, VibroPower’s diverse in-house skill sets and facilities have enabled the Group to offer customers value-added services, such as the design and manufacture of add-on options such as noise and vibration control features in our generator sets, and prompt after-sales service and maintenance support. >end Issued for and on behalf of VibroPower Corporation Limited: By Maxcom Communications Pte Ltd For more information, contact: William CHIA, william@maxcom.com.sg Mona LEONG, mona@maxcom.com.sg Tel: 832 7711 Fax: 832 7712
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| (Post 44 of 331) 03/09/2001.21:44:13 |
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OCBC Securities/Warburg on their 8 March 2001 Strategy Meeting has put a outperform on Vipro Power. They are still buying in the market. Set a S$0.40 target. |
| (Post 45 of 331) 03/15/2001.16:12:01 |
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This little engine has been climbing quietly towards its IPO price.
Looks like someone is accumulating. |
| (Post 46 of 331) 05/04/2001.14:17:49 |
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XD today, the price can drop anytime. Already exit, good luck!! |
| (Post 47 of 331) 06/11/2001.09:14:53 |
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Looks like will break above its IPO price of $0.33 soon with this kind of volume. FMs have finally discovered this GEM !!!!
 Clown |
| (Post 48 of 331) 06/11/2001.09:55:34 |
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Alrite !!! Sooner than I expected, must be big contract !!!
Clown |
| (Post 49 of 331) 06/11/2001.10:04:21 |
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looking interesting for intra day play...watch for possible breakouts....no stale bulls as it is a first day play.... |
| (Post 50 of 331) 06/11/2001.12:02:03 |
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no volume, how the synicate going to unload.
hahah.....syndicate also caught |
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