[ Archive Home ]
Yongnam| [ Archive Home ] |
| Yongnam |
(Post 1 of 280) 09/28/1999.15:47:00 |
| Author : |
Yongnam offers 42.8m shares in Singapore IPO Singapore, Sept 28 -- Engineering and construction company Yongnam Holdings Ltd said on Tuesday it was offering 42.8 million shares at S$0.36 each in its initial public offer for a main board listing in Singapore. It said in a statement the offer comprised a public tranche of 12.8 million shares, reserved tranche of 4.28 million shares and a placement tranche of 25.72 million shares. The issue, representing about 25.1 percent of its enlarged share capital, was priced at a historical price earnings ratio of 11.6 times. It said proceeds would be used to finance the construction of a proposed factory and for working capital. For the six months ended June 30, 1999, it made net profit of S$2 million on a turnover of S$47.2 million. Last year, it made a net profit of S$3.9 million on a turnover of S$111.1 million. The issue, lead managed by UOB Asia Ltd, would close on October 7 and trading was expected to begin on October 11. Source: Reuters |
| (Post 2 of 280) 09/29/1999.02:55:00 |
| Author : |
Yongnam sees profits/international contracts returning to pre-crisis level SINGAPORE (AFX-ASIA) - Yongnam Holdings Ltd said it expects profits to return to pre-Asian economic crisis levels in "the near future" as it expands its overseas operations. Yongnam, which launched an initial public offer of 42.8 mln shares today at 0.36 sgd, saw net profit before extraordinaries fall from a peak of 6.73 mln in 1995 to 1.61 mln in 1997 and 3.91 mln last year. It is forecasting a net profit of 4.6 mln this year. Turnover has remained stable during the same period with sales of 100.57 mln sgd in 1995 rising to 111.14 mln in 1998. Sales of 104.5 mln sgd are expected this year. Yongnam chief executive Seow Soon Yong said the company expects to return to the 1996 level of profitability in the near future, although he gave no details. He said the improvement in regional economies will flow through to the company's core businesses of structural steelworks, specialist civil engineering and mechanical engineering. During the Asian crisis of the last two years, many large engineering and construction projects were shelved and increased competition for the few remaining projects resulted in margin erosion. Yongnam technical director John Moody said there are already signs that prices are improving a little. The recovery is "slow but real", he said. The opening of the company's new factory at Tuas next April will reduce costs by allowing its four Singapore factories to be consolidated in the one building. The proportion of turnover coming from overseas markets has dwindled during the crisis from nearly half in 1995 to around 12 pct last year. Malaysia was an important market, contributing 22.4 pct of turnover in 1996 but this had fallen to 5.8 pct last year. "We have been traditionally busy in Malaysia and there is a lot of movement in Malaysia now so we would expect to see that market come back," Seow said. An office has been opened in Hong Kong and Yongnam is also looking at Greece, Australia and the Middle East as potential markets. Locally, the company sees growth coming from large infrastructure projects such as the Marina Bay development, new train lines, the Jurong Island petrochemical development and other projects. It sees growth coming from the increasing trend of using structural steel in buildings and more demand for its mechanical engineering expertise for plants such as power generators and incinerators. Yongnam, which has a staff of 600, said it has secured orders of 96.1 mln sgd, including the Expo MRT station and other station projects. dmb/tr AFN GVF76-28Sep99 07:05 GMT AFX ; ASIA ; |
| (Post 3 of 280) 10/05/1999.14:56:00 |
| Author : |
Yongnam Holding Offer px: $0.36 Par Value: $0.20 Shares offered: 42.8 mln of which 12.8 mln is public offer and 30 mln are reserved for private placement and employee Listing status: Mainboard Uses of proceed: $14.1m of which $6.0 is to finance the construction of a proposed factory in Tuas and $8.1m is to be used as working capital and for expansion of biz operation. Nature of biz: Specialist engineering and construction Recommendation from phillip securities: Buy and sell on strength due to low absolute price and lower p/e than the nearest competitor |
| (Post 4 of 280) 10/08/1999.08:31:00 |
| Author : |
Yongnam IPO public tranche 77.2 times subscribed SINGAPORE (AFX-ASIA) - Yongnam Holdings Ltd said the public tranche of its initial public offer was 77.2 times subscribed at its close today. Engineering and construction group Yongnam's IPO comprised 42.8 mln shares at 0.36 sgd each, including a public tranche of 12.8 mln shares and a placement tranche of 30.0 mln shares. ah/gc AFN HMY54-07Oct99 12:07 GMT AFX ; ASIA ; |
| (Post 5 of 280) 10/09/1999.00:53:00 |
| Author : |
Does anybody know the ballot ratio ? What price to sell ? Thanks Happy Weekend ! |
| (Post 6 of 280) 10/12/1999.07:45:00 |
| Author : |
Yongnam higher vs IPO price, hits fair value estimate SINGAPORE (AFX-ASIA) - Yongnam Holdings Ltd shares were higher in midmorning trade against its IPO price, with analysts saying the stock has hit their fair value estimate of 0.48-0.50 sgd per share, dealers said. They said the stock was also benefiting from strong market sentiment seen since last week. At 10:10 am, Yongnam was trading at 0.47 sgd against its IPO price of 0. 36 on volume of 23.20 mln shares. The Straits Times index was up 3.19 points at 2,117.68. An analyst with a local brokerage said he recommends a "stag" on the stock, with a price target of 0.48 sgd per share, equivalent to 14 times the forecast 1999 price earnings ratio. The stock was offered at a forecast P/E ratio of 10.90 times. "I think investors should take profits now. I don't think the company is very attractive because the construction industry is not really very exciting now," he said. Yongnam provides pre-fabricated steelworks for infrastructure, commercial/residential buildings and industrial facilities. The company made a net profit of 1.60 mln sgd on turnover of 47.21 mln sgd in the first half and expects major projects such as MRT stations, the Singapore Exchange Centre and a polyethylene plant to contribute to earnings in the second half. The local brokerage analyst said securing these projects was not a problem but the issue is whether the company can make money on these projects. "Margins in the construction industry are hhinner ... Unforeseen cost overruns could easily wipe out profits," he said. But an analyst with another local brokerage disagreed, saying margins are getting better in the construction industry. She said Yongnam could also leverage on its leadership in prefabricated steelworks and underground building capabilities to get better margins compared to its peers. She said she forecast a 5.50 mln sgd net profit for the company next year, with contributions from existing projects boosting profitability. Despite improving prospects, she said she is recommending a stag on the stock after it hit her fair value estimate of 0.50 sgd each. jb/zr AFN HRD33-11Oct99 02:17 GMT AFX ; ASIA ; |
| (Post 7 of 280) 10/20/1999.09:52:00 |
| Author : |
JTC rejects Yongnam proposed sale of waterfront property to Lian Beng SINGAPORE (AFX-ASIA) - Yongnam Holdings Ltd said the Jurong Town Corp has rejected its proposal to sell its waterfront property in Senoko Way to Liang Beng Engineering and Machinery Pte Ltd. The property would have been sold at a price close to its book value of 4.0 mln sgd, a company official said. He said Yongnam has been selling its properties as the company is consolidating its operations at a new facility in Tuas. Yongnam and Liang Beng signed a sale and purchase agreement on July 21. The agreement was subject to JTC's approval as the property was under a long-term lease from the government. On Oct 18, JTC advised Yongnam that the waterfront property should be assigned to a company with waterfront activities because of the limited supply of waterfront properties in Singapore, it said. The sale of the property to Lian Beng was disapproved by JTC because Lian Beng did not require a waterfront facility, it said. At 9:45 am, Yongnam was up 0.01 at 0.37 on 120,000 shares, while Lian Beng was up 0.01 at 0.47 on 37,000 shares. |
| (Post 8 of 280) 11/03/1999.14:50:00 |
| Author : |
Yongnam started trading on the 11th of Oct. At the close of the first day, it registered a price of 45cts vs the offer price of 36cts. Since then, its share price has fallen to a low of 30cts and today it is trading at 34cts. The invitation was for 42.8 mil shares, out of which 30 mil were placed. Post invitation, there are 170 mil shares. The NTA is 34.4cts per share. Earnings are projected to be 3.3cts per share, giving it a PE at listing of 10.9. Earnings over the past 5 years have been pretty stable except for 1997 when it fell to 1.3cts. 1998 and forecast 1999 earnings are at around 3cts per share. The business activities of the Group are organised into three main operating divisions: (a) the Structural Steelwork Division, (b) the Specialist Civil Engineering Division, and (c) the Mechanical Engineering Division. In the prospectus, the company is clearly proud of its achievements and there are pages and pages of references to all its projects. I am not from this industry but it certainly appears that this company is well respected especially in the first 2 lines of businesses. It is also likely that they will continue to win more infrastructural govermment projects especially those related to large buildings, MRTs or airport extensions. Overall, this looks like a quality company with pretty stable income and growth. One for the long term especially when the construction industry picks up over here. |
| (Post 9 of 280) 01/08/2000.00:11:00 |
| Author : |
YONGNAM HOLDINGS LIMITED In accordance with Clause 904(1)(d) of the Listing Manual, please be informed that the Company, through its wholly-owned subsidiary, Yongnam Engineering & Construction (Private) Limited, has acquired 999,998 shares of HK$1/- each in the share capital of Yongnam Engineering (HK) Limited, thereby increasing the paid-up capital of Yongnam Engineering (HK) Limited from HK$2/- to HK$1,000,000/-. Prior to the increase in capital, Yongnam Engineering & Construction (Private) Limited is the sole corporate shareholder of Yongnam Engineering (HK) Limited. Submitted by FOO SOON SOO, Company Secretary on 07/01/2000 to the SES |
| (Post 10 of 280) 03/15/2000.17:44:00 |
| Author : |
Does anyone know what is behind the fall of price in this company? Any comments on when to sell or buy more? |
| (Post 11 of 280) 03/24/2000.06:18:00 |
| Author : |
YONGNAM HOLDINGS LIMITED Multi-disciplinary engineering and construction group, Yongnam Holdings Limited ("Yongnam"), today (March 23, 2000) reported a 15% increase in proift before tax to S$6.5 million for the financial year ("FY") ended December 31, 1999, from S$5.6 million recorded for FY 1998, in its maiden results following its listing on the SGX last year. This improved performance was achieved despite a decline in turnover by 2% to S$108.9 million from S$111.1 million recorded the previous year. Singapore contributed the bulk of total Group turnover, with S$100.4 million in revenue recognised from the completion and partial completion of projects. Projects in Hong Kong contributed S$4.9 million in turnover whilst Malaysia accounted for S$1.0 million. Other countries, including Brunei, Egypt and Philippines, contributed the remaining S$2.6 million in revenue. Said Mr Seow Soon Yong, Chief Executive Officer of Yongnam: "We are satisfied with the Group's maiden results, which were achieved under difficult economic conditions. The market for infrastructure development and construction projects in Singapore and in the region has started to pick up and we will tap on this potential in the coming year to build our order book. As one of the region's leading multi-disciplinary engineering and construction specialists, we believe that we are well placed to capitalise on the opportunities for new projects in Singapore and the region to increase our activities in each of our core businesses." Group profit after tax before extraordinary items jumped 12% from S$3.9 million recorded the previous financial year to S$4.4 million for this financial year end. There is a large infrastructure market in Hong Kong and through its wholly-owned subsidiary, Yongnam Engineering (HK) Ltd, the Group recently clinched three specialist construction projects in Hong Kong for the Mass Transit Railway (Tseung Kwon O line) and the Kowloon West Rail connecting Kowloon and Guangzhou. Worth a total of HK$79 million, the projects utilise the Group's full specialist capabilities in cofferdam construction. In Singapore, the Group successfully secured a contract worth S$5.6 million to provide the steel structures for the construction of Parkview Square at North Bridge Road in December 1999. Currently ongoing, the project is expected to be completed in the first half of 2001. The contract for the waferfab 7 factory at Woodlands was awarded to the Group recently for S$6.1 million and is expected to be completed this year. The Directors have declared a first and final dividend of 2% per ordinary share of S$0.20 each. Earnings per share for the Group rose from 3.1 cents in FY 1998 to 3.2 cents in FY 1999, and net tangible asset per share rose to 36.5 cents from 34.8 cents. Established in 1971, Yongnam is today a multi-disciplinary enginering and construction group specialising in three main activities: structural steelwork, specialist civil engineering and mechanical engineering. The Group provides a complete range of solutions from design to erection and supplies fabricated steel structures to the region. The Group's unique modular strutting cofferdam construction system which has been used extensively in Singapore, is now gaining recognition and is currently accepted for the Hong Kong market. As part of its fully integrated operations, the Group provides mechanical engineering services to chemical plants, power plants and oil refineries. Yongnam was listed on the then Stock Exchange of Singapore on October 11, 1999. Submitted by FOO SOON SOO, COMPANY SECRETARY on 23/03/2000 to the SES |
| (Post 12 of 280) 03/24/2000.07:19:00 |
| Author : |
Yongnam Hldgs '99 Net S$4.4M Vs S$3.9M Yongnam Holdings Ltd. - Year To Dec. 31: ______________1999______1998 Net Profit S$4,381,000 S$3,905,000 Pretax Profit 6,491,000 5,545,000 Revenue 108,948,000 111,139,000 Per Share Net Profit 3.2 cents 3.1 cents Dividend 0.4 cent Omitted |
| (Post 13 of 280) 06/26/2000.20:57:00 |
| Author : |
anyone noes the sudden surge of interest in this counter? |
| (Post 14 of 280) 07/12/2000.08:51:00 |
| Author : |
A solid base is being built between $0.38 and $0.41 for quite some times. Watch for a breakout above $0.42. |
| (Post 15 of 280) 07/13/2000.00:33:00 |
| Author : |
hi Ochartist...i agree with u over that...this quite some time is really a very long time...if anyone is talking about a good solid support level...they shld have a good look at this counter...see how strong the support level at 0.38 and 0.39 had been...also noticed its been threatening to break above the 0.42 level a few times...  |
| (Post 16 of 280) 07/25/2000.12:54:00 |
| Author : |
Price going up, watch out for this counter!!! |
| (Post 17 of 280) 07/26/2000.01:18:00 |
| Author : |
anyone knows why this surge of volume in this counter? |
| (Post 18 of 280) 07/26/2000.16:14:00 |
| Author : |
INCREASE IN PRICE AND TRADING VOLUME To: The Listing Manager - Singapore Exchange Limited We refer to the enquiry as to whether we are aware of any reason(s) for the sharp increase in price and trading volume of the Company's shares on the Exchange yesterday (Tuesday, 25 July 2000). In our ordinary course of business, we are always exploring possible projects in Singapore and the region. We are currently considering acquiring a power generation business in the Philippines. However, nothing is finalised and we are still in the initial stages of due diligence and documentation. In addition, we are also contemplating a fund raising exercise and are seeking professional advice in this regard. We are, however, again only at the preliminary stages and nothing has been decided or finalised. Necessary announcements will be made at the appropriate time. Save for the above, none of the directors are aware of any reason for the sharp increase in our share price and trading volume on 25 July 2000. Submitted by Foo Soon Soo, Company Secretary on 26/07/2000 to the SGX |
| (Post 19 of 280) 07/26/2000.16:21:00 |
| Author : |
well, here are the summaries :- " .... currently considering acquiring a power generation business in the Phillipines ..... " "...... contemplating a fund raising exercise ...." |
| (Post 20 of 280) 07/26/2000.16:28:00 |
| Author : |
Gee, i check the chart & realise Yongnam has been making this kind of sudden surge before. Strangely. I usually retrace back after reaching $ 0.45. Did anyone also see some kind of accumulation at around the range of $0.37 - $ 0.45 ? |
| (Post 21 of 280) 07/26/2000.17:45:00 |
| Author : |
Good judgment, accumulate before it surge. I think it make a good choice in acquiring the power generation operation. |
| (Post 22 of 280) 07/27/2000.00:08:00 |
| Author : |
hi Warawara the previous one-day surges by this counter was not supported by volume...some small play and then back to the 0.38-0.40 level where it has been hovering for some time already...this surge has a large volume by this counter's standards...whether or not a new support level is established...or just another one-off play...we shall see...do hope that the power generation business leads to something |
| (Post 23 of 280) 07/27/2000.02:05:00 |
| Author : |
Yongnam in talks to acquire power generation ops in Philippines SINGAPORE (AFX-ASIA) - Yongnam Holdings Ltd said it is in talks to acquire a power generation operations in the Philippines. "Nothing is finalised and we are still in the initial stages of due diligence and documentation," it said. Yongnam issued the statement in response to a query from the Singapore Exchange as to the reason behind the recent rise in its share price and volume. In addition to the possible acquisition, Yongnam said the company is considering a fund raising exercise. jb/nt |
| (Post 24 of 280) 07/28/2000.09:44:00 |
| Author : |
Watch out for this counter, a married deal of 1700 changing hand. |
| (Post 25 of 280) 07/28/2000.09:44:00 |
| Author : |
Watch out for this counter, a married deal of 1700 changing hand. |
| (Post 26 of 280) 07/28/2000.10:10:00 |
| Author : |
can buy yongnam? pls comment  |
| (Post 27 of 280) 08/01/2000.12:10:00 |
| Author : |
Hi Nancy, The fluctuation rate of this counter is pretty fast. i would advise that it's not recommended for "contra" but maybe better for a "hold" basis.Still monitoring closely to the developments but not very optimisstic abt this counter.forecast the price will depreciate later in the afternoon. Will give a better technical analysis later!!Cheers! |
| (Post 28 of 280) 08/01/2000.12:45:00 |
| Author : |
I think it a good stock to hold and accumulate at this price. Don't forget that if the deal to buy the power plant come true, their profit would go up. |
| (Post 29 of 280) 08/01/2000.13:30:00 |
| Author : |
Hi Nancy, Sure can buy because many people are buying, that's why it went up to top counter...just follow the wave, maybe there is some announcements coming out soon.Stockists like to aim for those stock that hitting high or reaching peak. |
| (Post 30 of 280) 08/04/2000.13:19:00 |
| Author : |
Did the power plant deal got through, I wonder? |
| (Post 31 of 280) 08/04/2000.17:38:00 |
| Author : |
Double-top n Double-bottom soon. Has the construction industry turn around? Haven't heard of leh. no indication yet leh. So? Ask manupulator loh. But maybe SGX has the answer? |
| (Post 32 of 280) 08/05/2000.02:59:00 |
| Author : |
Yongnam secures option to buy 80 pct stake in Philippine power firm SINGAPORE (AFX-ASIA) - Yongnam Holdings Ltd said it has secured an option to purchase an 80 pct stake in Power Generation Philippines Inc. Power Generation Philippines, which operates a power plant that supplies electricity to the Manila International Airport Authority, is estimated to be worth between 127.10 mln pesos and 246 mln pesos, it said. The purchase price of the stake will be determined based on the valuation of Power Generation Philippines after adjusting for the net liabilities as at end-July 2000, it said |
| (Post 33 of 280) 08/05/2000.03:19:00 |
| Author : |
ACQUISITION OF A SUBSIDIARY The directors of Yongnam Holdings Limited ("Yongnam") are pleased to announce that Yongnam has on 4 August 2000 entered into an option and sale and purchase agreement (the "Agreement") with the majority shareholder, a Filipino individual (the "Vendor"), of The Power Generation of the Philippines (PowerGen.), Incorporated ("Power Gen") whereby Yongnam was granted an option to purchase 80% of the issued share capital of Power Gen. OPTION AND SALE AND PURCHASE AGREEMENT (a) Option to purchase shares Pursuant to the terms of the Agreement, the Vendor has granted Yongnam an option (the "Option") to purchase 80,000 ordinary shares of 1,000 Pesos each (the "Option Shares") representing 80% of the issued share capital of Power Gen. Yongnam shall be entitled to exercise the Option at any time from the date of the Agreement to the earlier of:- i) the date falling 15 business days from the fulfillment of certain events set out in the Agreement; and ii) the date falling 6 months from the date of the Agreement. The purchase price is arrived at on a willing buyer - willing seller basis. The purchase price for the Option shares will be determined based on the valuation of Power Gen after adjusting for the net liabilities of Power Gen as at 31 July 2000. It is contemplated that the valuation of Power Gen will be between 127,100,000 Pesos to 246,000,000 Pesos, depending on the outcome of certain proposed amendments to the power generation agreement dated 10 January 1995 between Power Gen and the Manila International Airport Authority (the "Power Generation Agreement") relating to the supply of base load electricity of up to 24 Megawatts by Power Gen to the Manila International Airport Authority and the tax holidays, if any, obtained by Power Gen. (b) Deposit In connection with the proposed acquisition, Yongnam has paid the Vendor a deposit in the aggregate amount of 52,250,000 Pesos (the "Deposit"). The Deposit shall be fully refunded by the Vendor to Yongnam within 15 business days together with, inter alia, interest thereon at commercial rates and costs and expenses incurred by Yongnam in connection with the transaction if inter alia, Yongnam does not exercise the Option or gives notice to the Vendor that it does not wish to proceed with the proposed transactions contemplated under the Agreement. In the event that the Option is exercised by Yongnam, the Deposit shall be deemed to have been applied towards satisfaction of the purchase price payable for the Option Shares. (c) Funding The aggregate purchase consideration for the Option Shares (including the Deposit) shall be fully satisfied in cash. Funding for the purchase consideration is by way of bank borrowings, internal sources and/or funds raised pursuant to any fund raising exercise to be undertaken by Yongnam. (d) Loan It is also provided under the terms of the Agreement that, conditional upon exercise of the Option by Yongnam, upon completion of the sale and purchase of the Option Shares, Yongnam will, subject to satisfactory legal documentation and security, extend a loan to the Vendor on terms and conditions acceptable to Yongnam. The principal amount of the loan shall be equivalent to the one-eighth of the aggregate purchase price payable for the Options Shares. Half of the loan is to be repaid by the Vendor on the date falling 6 months from the advance of the loan and the remaining half is to be repaid on the date falling 6 months thereafter. Interest on the loan shall accrue at commercial rates. In addition, subject to the fulfillment of certain conditions, Yongnam shall extend an additional loan amount of up to 28,800,000 Pesos. Such additional loan shall be made on the same terms and conditions as the loan referred to above. CONSIDERATIONS IN EXERCISING OPTION In deciding whether to exercise the Option, Yongnam will take into account, inter alia, the following considerations:- (1) the conclusion to the reasonable satisfaction of Yongnam of legal, technical and financial due diligence of Power Gen; (2) amendments to the Power Generation Agreements to the satisfaction of Yongnam; (3) amendments to the Articles of Incorporation and By-laws of Power Gen to the satisfaction of Yongnam; and (4) all approvals and consents (including any governmental, regulatory and/or corporate approvals and consents), if necessary, for the transactions contemplated under the Agreement being obtained. INFORMATION ON POWER GEN Power Gen is a private company limited by shares incorporated in Philippines on 3 March 1993. Its primary business is light, heat and power generation. Power Gen operates, maintains and manages a diesel power generation plant that supplies electricity to the Manila International Airport Authority. Power Gen proposes to increase its installed power generator capacity under the Power Generation Agreement from the present capacity of 7.2 Megawatts to 24 Megawatts in various phases. RATIONALE OF THE PROPOSED ACQUISITION Yongnam has built a strong track record in its core business of steel fabrication. Yongnam is continually looking for opportunities to expand its business operations and where appropriate, to diversify its businesses. Yongnam sees the present investment in Power Gen as an excellent opportunity to expand and diversify its existing businesses into the region and intends to use Power Gen as a gateway to expand its operations into the Philippines. FINANCIAL EFFECT The transactions contemplated under the Agreement are not expected to have a significant impact on Yongnam's consolidated earnings per share and consolidated net tangible assets per share for the financial year ending 31 December 2000. SUBSTANTIAL SHAREHOLDERS' AND DIRECTORS' INTEREST None of the substantial shareholders or directors of Yongnam has any interest direct or indirect in the proposed acquisition. Submitted by Foo Soon Soo, Company Secretary on 04/08/2000 to the SGX |
| (Post 34 of 280) 08/05/2000.12:13:00 |
| Author : |
after link island, hondlaihuat, YONGNAME is the next play !!! |
| (Post 35 of 280) 08/05/2000.16:22:00 |
| Author : |
the recent run-up from the 0.40 level to current level may have already reflect the option deal. any further upside potential will be due to speculative play. From the high of 0.49 to closing level, clear for all to see. |
| (Post 36 of 280) 08/11/2000.14:27:00 |
| Author : |
YONGNAM pre-qualified for S$ 1.6 bln MRT/road contract !! |
| (Post 37 of 280) 08/21/2000.12:52:00 |
| Author : |
REQUEST FOR SUSPENSION OF TRADING IN SHARES Please suspend the trading in our shares with immediate effect as we shall be making an announcement shortly. Submitted by Foo Soon Soo, Company Secretary on 21/08/2000 to the SGX |
| (Post 38 of 280) 08/21/2000.15:20:00 |
| Author : |
PLACEMENT OF 20, 000, 000 NEW ORDINARY SHARES OF S$0.20 EACH IN THE CAPITAL OF YONGNAM HOLDINGS LIMITED   |
| (Post 39 of 280) 08/21/2000.15:23:00 |
| Author : |
LIFTING OF SUSPENSION OF TRADING IN SHARES Please resume the trading in our shares today as announcement had already been made regarding Placement of 20,000,000 New Ordinary Shares of S$0.20 each in the capital of the Company. Submitted by Foo Soon Soo, Company Secretary on 21/08/2000 to the SGX |
| (Post 40 of 280) 08/22/2000.02:25:00 |
| Author : |
Yongnam to raise 7.9 mln sgd from 20 mln shr placement SINGAPORE (AFX-ASIA) - Yongnam Holdings Ltd said it will raise 7.9 mln sgd from the private placement of 20 mln new shares at 0.40 sgd per share. The price represents a 2.0 pct discount to the weighted average of deals done on the company's shares between Aug 18 and this morning, prior to the voluntary suspension, it said. About 3.0 mln sgd of the proceeds will be used to acquire an 80 pct stake in The Power Generation of the Philippines Inc. The remaining 4.9 mln sgd will be used as working capital, it said. Once the issue has been concluded, Yongnam said its pro forma consolidated net asset backing per share will rise to 0.368 sgd from 0.365 at end-1999. Yongnam closed the morning session down 0.005 sgd at 0.405 on volume of 118,000 shares |
| (Post 41 of 280) 08/29/2000.11:09:00 |
| Author : |
heard of takeover news for yongnam after its recent placement |
| (Post 42 of 280) 08/29/2000.11:44:00 |
| Author : |
Pong888 you cannot be trusted at all.Fully discounted. All your tips go in the drain |
| (Post 43 of 280) 08/29/2000.15:12:00 |
| Author : |
Pong888, Heard of the same thing in the mkt. But I would not want to bet on it though. Speculation is that the very recent placement of 20M new shares at 40 cts to unnamed party may be prelude to takeover. The key word is "unknown" & that has probably triggers this rumour. |
| (Post 44 of 280) 08/30/2000.01:08:00 |
| Author : |
given the nature of yongnam...wont be surprised if yongnam go for a run of a few cents...watch out for some sudden movement...enjoy trading |
| (Post 45 of 280) 09/11/2000.00:13:47 |
| Author : |
at 40 cents, this level is a strong support. If one has enuff money to hold, I think this counter is worth a look. Whenever theres any release of info, Yongnam looks capable for a few cents run-up. Doubt that it has any potential to go above 50. But in a market like this, few cents is better than nothing. Observe for yourself the current level and you will know what i mean by strong support. |
| (Post 46 of 280) 09/13/2000.22:34:07 |
| Author : |
Yongnam Holdings H1 net loss 10.937 mln sgd vs profit 1.990 mln
SINGAPORE (AFX-ASIA) - Yongnam Holdings Ltd six months to June results: Net loss - 10.937 mln sgd vs profit 1.990 mln Sales - 46.479 mln sgd vs 47.214 mln Pretax loss - 10.437 mln sgd vs profit 2.770 mln Loss per share - 6.40 cents vs EPS 1.60 Interim div - nil, unchanged In a statement, the company said its sales were flat in the first half due to the prevailing weakness in the domestic construction industry. It added it also suffered from lower margins as well as cost overruns worth 6.40 mln sgd on two of its projects, as well as higher depreciation expenses. The company said it expects full-year results to remain negative. |
| (Post 47 of 280) 09/13/2000.23:11:48 |
| Author : |
there goes your "0.4 support"
if Nasdaq and DJ index fall tonight - this stock is gone |
| (Post 48 of 280) 09/14/2000.02:19:45 |
| Author : |
YONGNAM RECORDS PRE-TAX LOSS FOR 1H2000 ON THE BACK OF DEPRESSED CONSTRUCTION INDUSTRY
Specialist engineering and construction group, Yongnam Holdings Limited ("Yongnam"), today (September 13, 2000) reported a loss before tax of S$10.4 million for the first six months of the financial year ending December 31, 2000, compared to a profit before tax of S$2.8 million recorded for the corresponding period in the previous year. This is despite a flat turnover reported of S$46.5 million recorded for the same period, down 2% from S$47.2 million reported last year, due to fewer jobs secured as a result of the laggard recovery of the construction industry. The Group's earnings was also affected as a direct result of the lower margins stemming from the weak construction sector, cost overruns incurred from the completed Expo Station and SSMC Waferfab construction projects amounting to S$6.4 million, and the expense of S$2.7 million, resulting from the depreciation of the Group's modular steel components used for their specialist civil engineering projects. Said Mr SY Seow, Chief Executive of Yongnam: "Our performance for the first half of this financial year was affected by the continued weak sentiment in the construction sector. Construction activities in Singapore actually contracted by 11% in the first quarter and 10% in the second quarter of this year and it is expected that the industry will recover only in the second half of 2001. However, in the near term, we anticipate a resurgence in infrastructure construction spending." Going forward, the Group expects to tap on the turnaround in demand for specialist civil engineering capabilities with the commencement of multi-million dollar tenders for infrastructure construction projects, including the Paya Lebar and Kallang Expressways, Marina MRT line and the third Changi Airport Terminal. In addition, the Group is currently involved in several ongoing projects, including the design, supply and installation of temporary civil engineering works for Tseun Wan Station in Hong Kong and the Singapore Civil Defence Force headquarters, in Singapore. The Group is also involved in several ongoing structural steelwork projects, including the supply, construction and erection of a wafer fabrication plant in Woodlands and the infrastructure construction project of the Changi Airport MRT station in Singapore, as well as construction of Manjung Power Station in Malaysia. Added Mr Seow: "We expect these ongoing infrastructure and construction projects to contribute positively to our revenue stream in the next financial year. We are also looking at further developing our business overseas and participating in bids for works with higher contract values to reduce our dependency on the Singapore construction industry. We have identified the issues relating to the losses incurred in the first six months of this financial year and steps are being taken to evaluate our internal system of cost control. We are working with a team of external consultants to design and implement a new cost management system for the Group. In future, we believe that we will minimise cost overruns, and hope to attain better profit margins, from our projects. Although we are optimistic about our performance, we expect our final year-end results to remain negative. Nevertheless, with the new cost control mechanisms in place, we are confident that we will be able to maximise the returns to our shareholders in the medium term." Established in 1971, Yongnam is a specialist engineering and construction group engaged in three main business activities: structural steelwork, specialist civil engineering and mechanical engineering. The Group provides a complete range of solutions from design to erection and fabrication of steel structures and a specialised cofferdam construction technique for construction projects in the region, and mechanical engineering maintenance work to chemical plants, power plants and oil refineries. Yongnam was listed on the Main Board of the then Stock Exchange of Singapore on October 11, 1999. Submitted by Foo Soon Soo, Company Secretary on 13/09/2000 to the SGX |
| (Post 49 of 280) 09/15/2000.08:03:49 |
| Author : |
Seems like the price of this stock has not adjusted itself to it's intrinsic value yet. Wonder how is it's full yr performance. Any comments? |
| (Post 50 of 280) 09/30/2000.03:47:56 |
| Author : |
ARTICLE PUBLISHED IN THE BUSINESS TIMES ON 29 SEPTEMBER 2000
We refer to the article captioned "Surge in buying amid weakness in market" published in the Personal Investment Section of The Business Times on 29 September 2000, and an extract of it as follows:- "Lim Chun Shuang, director of Yongnam Holdings, trimmed his interest to 3.242 million shares after he sold 0.543 million shares at 35-38 cents, between Sept 15 and 21. "The Company would like to clarify that Mr Lim Chun Shuang is a shareholder but not a director of the Company. Submitted by Foo Soon Soo, Company Secretary on 29/09/2000 to the SGX |
|
Copyright © 2005 ShareInvestor Pte Ltd. All Rights Reserved. Please read our General Disclaimer & Warning carefully. Use of this Website constitutes acceptance of the Terms of Website Use. For Members, please read our Membership Terms and Conditions carefully. |
Design by InfiniteSparks
|