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| Technics Group Holdings |
(Post 1 of 395) 04/02/2003.17:18:22 |
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SINGAPORE (Dow Jones)--Singapore's Technics Group Holdings Ltd. (P.TGR) will sell 25 million new shares at 22 Singapore cents (US$1=S$1.7693) each in an initial public offering Thursday.
It expects net proceeds of S$4.3 million from the IPO, the company said in a prospectus registered with the Monetary Authority of Singapore Wednesday. The engineering services company, which serves the oil and gas industry, will offer 3.75 million shares to the public and 21.25 million shares to institutional investors, including 1.5 million shares reserved for staff, directors and business associates. |
| (Post 2 of 395) 04/02/2003.17:21:04 |
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Only 3.75m shares for the public? I think I will give this issue a miss. Not worth the effort just to get a few lots. Anyway, there are many other recent IPOs now trading at attractive valuations.  |
| (Post 3 of 395) 04/03/2003.14:33:08 |
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IPO ALERT!
Technics Group Holdings Ltd IPO Launched Subscription price: S$0.22 per share Closing on: 09 April 2003 / 12 noon Overview: Technics Group is one of the homegrown leading specialist engineering service providers serving the robust oil and gas industry. It designs and develops process modules and equipment that are integrated to form the production and storage facilities for oil and gas exploration and production. Invitation Stats: 25 million NEW shares at S$0.22 per share , of which: - 3.75 million shares for public subscription - 21.25 million shares for placement, of which ~ 19.75 million are placement shares ~ 1.5 million reserved shares Useful Links: 1. Download Prospectus here! / Prospectus Summary 2. Company Overview 3. Sign Up for Technics Group email alerts - FREE! |
| (Post 4 of 395) 04/03/2003.14:41:39 |
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Oil & gas play ...players in the same industry like KS Tech, Total Auto, CH Offshore and of course KepFELS are doing very well.
Overheard that demand for this issue exceedingly well. Reckon at these times, any IPO that braves the storm (war and SARS) has to be a bit quality one lah, if not, who dare to do IPO. No vested interest, still seeing if placement got any left for me or not. |
| (Post 5 of 395) 04/03/2003.14:43:03 |
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Stag.
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| (Post 6 of 395) 04/03/2003.14:46:30 |
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I accepted 60 lots. You want some, Ashleysan?  |
| (Post 7 of 395) 04/03/2003.14:50:17 |
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Ctr-Alt-Del new IPOs. Me already spent me last bullet on Chartered.
Transition in progress. Watch out for the GREAT RECOVERY to come. Believe you me ... |
| (Post 8 of 395) 04/03/2003.14:53:35 |
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Camelhump, never say die hor. Ah Pro already gave up. You are the last bastion of support for CSM. Good luck to you. |
| (Post 9 of 395) 04/03/2003.14:58:14 |
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Lokekong san, thanks for your gesture. I should be getting some from my bloker's allocation.
Your bloker must have treated you as VIP customer - 60 lot is a generous allocation. Do keep it to stag for some kopi-si with butter and kaya, and 2 fresh eggs. |
| (Post 10 of 395) 04/03/2003.15:05:34 |
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60 lots... your broker is a hot shot? |
| (Post 11 of 395) 04/03/2003.15:14:48 |
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When I hesitated whether or not I should apply for more, she assured me that even if I applied for more, I will not get the full amount. Not that I don't want to make more money, but I don't like greater risk. In fact, she told me to apply for more and, at the same time, assure me that I would not get all. Should I be given 'all', she would take half! With that assurance, I applied for more than 60 but got only 60. I have scanned through the statistics and feel comfortable with it. I could still apply for my spouse and my children under the IPO which is meant for the general public if it is 'hot'. |
| (Post 12 of 395) 04/03/2003.15:25:28 |
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Recent issues like OCeanSky and ACCS have done well so I reckon this one should follow that sentiment.
Fundamental wise, at least its not one of those "concept stocks" that sell you a dream that they "may" become "so and so" in future. The business Technics is in is brick and mortar and furthermore, oil and gas are in the spotlight with Iraq problem unresolved. Frankly, just read through their profile in listedcompany.com website but still trying to understand their business better. |
| (Post 13 of 395) 04/03/2003.18:11:32 |
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TECHNICS GROUP HOLDINGS LIMITED
PRESS RELEASE - Net proceeds of S$4.3 million to fund expansion and tap robust growth in the regional oil and gas industry - Profitable track record with strong integrated engineering capabilities - Strong interest in IPO during book-building phase Singapore, April 3, 2003 – Technics Group Holdings Limited (“Technics”) today announced the launch of its initial public offering (IPO) of 25 million new shares at S$0.22 per share. The shares will be listed on the SESDAQ of the Singapore Exchange Securities Trading Limited (“SGX-ST”). Founded in 1990 by Singapore entrepreneur Ting Yew Sue, Technics is one of the homegrown leading specialist engineering service providers serving the robust oil and gas industry. It designs and develops process modules and equipment that are integrated to form the production and storage facilities for oil and gas exploration and production. With operations in Singapore and Batam, and a representative office in Vietnam, Technics’ major customers include established MNC companies in the oil and gas industry such as VietSovPetro Joint Venture, Keppel FELS Limited, Halliburton Multinational Inc. and Emerson Process Asia Pacific Private Limited. Its key markets include Singapore and Vietnam, which is one of the region’s major oil producing countries. Its other markets include other oil and gas rich territories such as Indonesia, Malaysia and China. A profitable company with a strong track record of reliability and prompt delivery, Technics is launching its IPO to raise funds for its expansion to tap the robust growth in the oil and gas industry in the region. The total share offer, representing 21% of Technics’ enlarged share capital, comprises a public tranche of 3.75 million shares and a placement tranche of 21.25 million shares. A total of 1.5 million shares have been reserved for employees, independent directors, business associates and those who have contributed to the success of the Group. At $0.22 per share, the IPO is priced at a historical price earnings ratio of 6.45 times. The NTA per share, after adjusting the net proceeds of the IPO, is 6.74 cents per share. The historical net earnings per share for FY2002 based on the pre-invitation share capital is 3.41 cents. The net proceeds from the IPO, which will amount to about S$4.3 million, will be used as follows: o Approximately S$3 million will be used to finance the acquisition of new production facilities or expansion of existing facilities or to partially prepay the term loans that were used to finance such acquisitions or expansions ; o Approximately S$1 million will be used to develop the procurement services division and to develop new and existing markets in Indonesia and other ASEAN countries; and o The balance will be used for working capital. In launching the IPO, Mr Ting Yew Sue, Technics’ Managing Director said: “We are optimistic about the outlook of the oil and gas industry. This listing will enable us to tap the capital markets, and position us for greater expansion in the region. We will be armed with increased capacity and better facilities to expand into new geographical markets and broaden our scope of engineering services in new business segments.” Technics plans to expand geographically and broaden its business segments. As part of its growth plans, Technics has acquired a 20,000 sq m facility in Batam and intends to acquire a 16,759 sq m facility in Singapore to cater for larger and more complex Engineering, Procurement, Construction and Commissioning (EPCC) and Contract Engineering (CE) projects. These facilities, with waterfront access for easy loading and unloading of equipment, will allow Technics to double their manufacturing capability, enabling them to bid for larger and more complex EPCC and CE projects with potentially better margins. Technics’ turnover rose from S$14.5 million in FY2000 to S$29.1 million in FY2002 (financial year ended September 30), representing a compounded annual growth rate of 41.8%, while profit before tax jumped from S$92,000 to S$4.1 million in the same period. Average pre-tax profit margin increased from 0.6% to 14.2% during this period. Technics is pleased to note that during the book-building phase, there has been strong interest in its IPO. The manager, underwriter and placement agent of the issue is HL Bank. The offer will close on 9 April 2003 at 12 noon, and trading is expected to begin on 11 April 2003. Copies of the prospectus and application forms may be obtained on request, subject to availability, from 3 April 2003 at HL Bank, members of the SGX-ST, members of the Association of Banks and merchant banks in Singapore. Applications for offer shares may be made on the application forms referred to in the prospectus or by way of electronic share applications at ATMs of participating banks or through Internet Banking websites of the relevant participating banks. |
| (Post 14 of 395) 04/04/2003.13:46:42 |
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Technics IPO
Profiles and Informations.... Right industry during these chaotic times where people in the Middle East are dying for the 3 letters : O-I-L Noted a few things... - As at 27 February 2003, order book onm hand is $15.21 million - PE ratio 6.45 times... quite reasonable. - Net proceeds of S$4.3 million to fund expansion and tap robust growth in the regional oil and gas industry ... not to repoay bank loans or repay directors. - Placements heard to be short on supply - Not small : 20,000 sq m facility in Batam & 16,759 sq m facility in Singapore |
| (Post 15 of 395) 04/04/2003.14:10:19 |
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Some profile on the company...
Technics is one of the homegrown leading specialist engineering service providers serving the robust oil and gas industry. It designs and develops process modules and equipment that are integrated to form the production and storage facilities for oil and gas exploration and production. With operations in Singapore and Batam, and a representative office in Vietnam, Technics’. major customers include established MNC companies in the oil and gas industry such as VietSovPetro Joint Venture, Keppel FELS Limited, Halliburton Multinational Inc. and Emerson Process Asia Pacific Private Limited. Its key markets include Singapore and Vietnam, which is one of the region’s major oil producing countries. Its other markets include other oil and gas rich territories such as Indonesia, Malaysia and China. Our principal activities comprise the following: Engineering, Procurement, Construction and Commissioning ("EPCC") We design, procure, fabricate, install and commission process modules and equipment for oil and gas exploration and production on a turnkey project basis. These modules and equipment will form the operating system of the production and storage facility for oil and gas. Contract Engineering For customers in the oil and gas industry who do not require fully integrated turnkey services as in an EPCC project, we are able to customise our services to procure materials and fabricate and install modules or equipment for them. Procurement and Other Services We offer after sales services to our project customers and supply spare parts and equipment, such as specialised valves and measuring equipment (flow meters and gauges), for oil and gas exploration and production. We also provide repair and maintenance services to the oil and gas industry. Source... |
| (Post 16 of 395) 04/04/2003.15:16:21 |
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I believe, like me, you are alloted some placement shares and that is the reason why you bother to post the positive aspects of the IPO.
May we ride on the winning horse! |
| (Post 17 of 395) 04/04/2003.15:37:00 |
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Lokekong, you are discerning.
Kekekee...
Frankly, I like it not becos I am offered the shares, I actually did glance through their previous prospectus (red wordings cover) weeks ago. Found no fault with the company and HL Bank has been bringing in decent issues to the market so far. Plus the Gulf II does bring a bit of prominence to this kind of companies as mentioned in ST today. |
| (Post 18 of 395) 04/04/2003.15:57:01 |
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Agree. I am also encouraging members of my family to subscribe for it as they are not offered any. My guess is that it will, at least, be <15 times oversubscribe. I expect a profit between 2-5 cts per share. Is my expectation reasonable/too low/too high? By the way, what's your expectation?
By the way, do you know of people who were given the full allotment under placement? I was only given half of what I requested. |
| (Post 19 of 395) 04/04/2003.16:19:24 |
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Lokekong san, I think Technics IPO is grouped under the offshore and oil/gas sector which is presently booming because of high oil prices. Various players in this sector big and small are worthy of being monitored.....eg Kepcorp, Sembcorp Oil/Gas unit, Total Auto, Metalock etc...
Technics can be compared with Total Auto (Metalock is too illiquid and not covered much by broking houses), but prospects of Technics' growth looks more robust and sustainable. I think a stag upside of 5c is not overly optimistic. |
| (Post 20 of 395) 04/04/2003.16:29:33 |
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Thanks, Ashley. Why the trumpet? Blowing one's trumpet? |
| (Post 21 of 395) 04/04/2003.16:51:50 |
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Selling koyok with a trumpet! |
| (Post 22 of 395) 04/04/2003.16:59:38 |
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I believe, you have some from your remisier/broker, right? Hope for the best but prepare for the worst for those who have got the placement! |
| (Post 23 of 395) 04/05/2003.15:29:29 |
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I was given full allotment 500 000...not hot but wont sink first day 1 - 1.5 cts maybe but 0.5 cts i also sell! |
| (Post 24 of 395) 04/05/2003.15:30:24 |
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HOT STUFF wd be Ecowise!!! |
| (Post 25 of 395) 04/05/2003.15:30:44 |
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Also watch for NAGA RESORTS |
| (Post 26 of 395) 04/05/2003.15:48:00 |
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Pahlawan, I also waiting for Naga Resorts....the only way to make money at a casino is to own its shares!
What about Asiatic? I think Phillip securities will launch that b4 Ecowise? |
| (Post 27 of 395) 04/05/2003.15:49:33 |
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You applied for 500 lots and was given 500. I applied for 100 but was given 60. You must be either a valued client to your broker or an esteem business associate to the company, right? Normally for placement, you know that you are likely to be given 1/2 or more of the amount you applied. You must be loaded and confident that it will not tank on the first day. Other than the information you obtained from the prospectus, what makes you applied for 500 lots? Care to share? Thank you. |
| (Post 28 of 395) 04/05/2003.16:04:47 |
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Here are some of my observations for this new IPO:
1. Lack of recurring revenue The substantial increase in turnover for FY2002 and FY2001 was due to a one-time contract with Keppel Fels that was billed progressively. They mentioned in the prospectus (pg 78) that there was a large project substantially completed in FY2002. (should be the Keppel contract i think). When this is done, where would the future revenues come from? 2. Contract Work-in-progress (as at 30/9/02) This item is only $378k on the balance sheet and may indicate little upside to the turnover by the next earnings announcement. This point may provide some support for the 1st point. 3. Fixed Assets Only $181k? I thought this is a capital intensive industry given all the photos we seen here. Is this capital employment enough to generate higher revenues? 4. Staff Number. There are currently 93 full-time staffs, of which only 53 are involved in production. Hmmm, operations seems to be quite small. Prelimary impression of this company is that growth is limited in the near term, given the limited resources it has. Furthermore, my biggest worry is still the 1st point where future revenue is concerned. This should be a speculative buy in the short term. |
| (Post 29 of 395) 04/05/2003.19:13:31 |
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Pahlawan & Euclid - ha ha ha Both Ecowise and Asiatic are very tiny deals raising $2-3.5m and cannot attract serious fund managers.Yes these micro-IPOs may attract punters but today many punters die liao or too hurt to participate. So result is cannot get out, big speculators and punters will be stuck with shares in micro-size companies with no hope for exit until big bull return. |
| (Post 30 of 395) 04/05/2003.19:17:10 |
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Pahlawan - Ecowise is like See Hup Seng which is in grit recycling busineess. Grit is used in shipyards and enginerring works to clean metal surfaces..Ecowise trying to disguise as environmental stock !!! ha ha ha..people not so stupid lah. grit blasting recycling and shipyards same sunset industry |
| (Post 31 of 395) 04/05/2003.20:26:50 |
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what applied for 500 get 500lots, you must be an accredited investor.....or is it not too good thats why they give you so much??
anyway can the stock move on first day or not....times are so bad and the war is currently in place and the SARS really putting pple off the mkt leh |
| (Post 32 of 395) 04/05/2003.20:38:16 |
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given the timing of the launch, would it be too close as the price of oil has been falling since the march towards baghdad is drawing closer.
once the war is over, what driving force would be behind to push for the drilling of oil more frequently? would the margin for projects worked drop as a result of the fall in price of oil? |
| (Post 33 of 395) 04/05/2003.21:00:39 |
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what is the pe of this company? is it any good? hope that this issue would not be like the others which open either at issue price or lower. my broker tells me to stay off this issue as the war is affecting sentiments right now.
should i try or stay out? any ideas from anyone? |
| (Post 34 of 395) 04/05/2003.21:15:48 |
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my broker suggested to me to buy oceansky instead of this counter as the pe is much higher. he says something like 6.4 times vs 4.9 times for ocean sky. can anyone pls comment on this and whether this counter is any good? |
| (Post 35 of 395) 04/06/2003.08:57:29 |
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Look at their profile - gaining ground with local companies but losing ground on foreign companies. Does that tell something? Can local companies offer better margins than foreign companies? And also, highly dependent on FELS. AVOID. |
| (Post 36 of 395) 04/06/2003.10:28:01 |
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Major Customers
In FY2002, we were operating at close to full capacity and this had limited our ability to take on more projects. As a result, we had to manage our intake of projects from customers such as Emerson Process Management Asia Pacific Private Limited, Halliburton Multinational Inc. and Oceaneering International, Inc. resulting in the decline in the percentage of sales to these companies. [Source] |
| (Post 37 of 395) 04/06/2003.10:32:38 |
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Ladylady, I hope your broker is a Gentlemangentleman. You see, when you sell, someone must buy and when you buy, someone must sell. SO, whether it is any good depends on who is talking. But for your broker, whether sell or buy it is good for him. |
| (Post 38 of 395) 04/06/2003.10:34:16 |
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Engineepee, based on your comments, it is clear you are concerned about engine peeing oil after the war is over and price of oil drops. |
| (Post 39 of 395) 04/06/2003.10:35:58 |
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Barehand, do be careful if your hand is bare. Not wearing a glove can contract SARS. |
| (Post 40 of 395) 04/06/2003.12:24:12 |
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Is difficult to believe that because of nearing to full capacity, Technic decided to take on local customers than foreign customers like Emerson and Halliburton. These are big names in the industry and is unthinkable to stop or nearly stop taking projects from them.
Sounds unreal. |
| (Post 41 of 395) 04/06/2003.12:26:15 |
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Maxi88, as the saying goes "Words are from the Mouth of Man". So, it is very real. You play Unreal II? |
| (Post 42 of 395) 04/06/2003.12:38:43 |
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"Words are from the Mouth of Man".
A ladylady should be observing with maxi(88)mum attention when the daredevil fireman is connecting his hose from the fire-engine and peeing with his barehand. [Just tokingkok only] |
| (Post 43 of 395) 04/06/2003.12:43:02 |
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And they all turn into ash(ley88)es after the fire is over. There is indeed a lot of talents in SI. |
| (Post 44 of 395) 04/06/2003.12:50:13 |
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And garbage ideas will be recycled from the remaining ashes into eco-friendly products to make the world go round! |
| (Post 45 of 395) 04/06/2003.14:25:14 |
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What this company do? Food products? |
| (Post 46 of 395) 04/06/2003.14:28:51 |
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Can apply or not, me very lost. |
| (Post 47 of 395) 04/06/2003.14:30:39 |
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Alftan, today I should be doing my career work, but I am talking rot here again. Don't know what is come over me. |
| (Post 48 of 395) 04/06/2003.14:31:32 |
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How to apply through ATM, anybody can help? |
| (Post 49 of 395) 04/06/2003.14:33:15 |
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Skyfox,
just follow the instruction on the atm machine lah.
call me if u ned help, every lot u apply, my service charge is $5/ |
| (Post 50 of 395) 04/06/2003.14:43:13 |
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Haven't really done a study on this counter. Anybody can share anything, please enlighten me, kam siah. |
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