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(Post 1 of 83) 01/17/2005.13:58:39 |
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NEWS RELEASE
VITA HOLDINGS LAUNCHES IPO OF 40.5 MILLION SHARES AT S$0.20 PER SHARE Singapore, January 17, 2005 - Vita Holdings Limited ("Vita"), a growing shipping group that focuses on ship chartering in the PRC market, today registered its prospectus with the Monetary Authority of Singapore for its initial public offer ("IPO") of 40.5 million shares at S$0.20 per share. Vita will be listed on the SGX-ST Dealing and Automated Quotation System ("SGX-Sesdaq"). Said Ms Christine Sim, Executive Chairman of Vita: "This IPO marks Vita's coming of age and is an affirmation of our track record. We believe this listing will open up more opportunities for us, and raise our corporate profile in both the region and the industry." The Invitation The Invitation comprises 40.5 million new shares at S$0.20 each. This represents approximately 15.4% of Vita's enlarged share capital of 263 million shares. The Invitation is structured as follows: - 2.0 million Offer Shares by way of public offer; and - 38.5 million Placement Shares by way of placement At S$0.20 per share, Vita is priced at a historical price earnings ratio of 7.49 times, based on its net earnings per share of 2.67 cents for the financial year ended 30 June 2004 ("FY2004"). The public offer opens at 9.00 am on 18 January 2005 and will close at 12.00 noon on 25 January 2005. Trading of the shares is expected to commence on 27 January 2005. HL Bank is the Manager, Underwriter and Placement Agent for Vita's IPO. Use of Proceeds Vita intends to use the estimated net proceeds of S$6.9 million from its IPO as follows: - approximately S$0.8 million for the acquisition of vessels; - approximately S$5.0 million for funding potential acquisition of vessels where the opportunities arise; - approximately S$0.8 million for refurbishment and renovation of leased properties; and - the balance of S$0.3 million for its general working capital requirements. Corporate Profile Vita is a growing shipping group that focuses on ship chartering in the PRC market. Its ship chartering business, based in the PRC, has operations spanning the PRC, North Asia Pacific and South East Asia. The Group currently owns and charters out one container and seven cargo vessels. It provides crew and equipment, technical operation and ship navigation support to charterers, which are mainly shipping companies. The Group's property leasing and management business leases and manages 10 strategically located properties in Singapore. Ship Chartering Business The Group's vessels are chartered out under time charter contracts, usually for a period of one year with an option to renew for another year. This provides the Group with the flexibility to react to any increase in charter rates. Its charterers are mainly shipping companies who transport general cargo such as building materials, fertilizer, steel, household items, furniture and provisions. "Our competitive rates and high level of service enable us to maintain good relationships with our charterers. In FY2004, we achieved an average utilisation rate of over 95% for our vessels. This is because we ensure that there is regular maintenance by both ashore as well as onboard personnel, who are well trained in the vessels' standard operation procedures. As a prudent measure, we have a policy of purchasing or building vessels only when we are confident of securing charterers,¡± said Ms Christine Sim. Property Leasing and Management Business The Group leases and manages 10 properties in different market segments, which are sublet for use as offices, warehouses, hostels, dormitories and other purposes. Vita prides itself on providing efficient property management services to tenants at reasonable rental rates. The Group received ISO9001:2000 certification for hostel management as a recognition of its achievements in Vita Hostel. "Our property leasing business provides us with a stable income stream. More importantly, our diverse mix of over 100 local and international tenants from a range of industries ensures that we are not dependent on any particular industry," said Ms Christine Sim. Experienced Management Team Driving Strategy Vita has an experienced management team that charts its direction and strategy. With more than 20 years of experience each, its Executive Chairman and Executive Directors ensure the Group is steered in the right direction, particularly during periods of changing market conditions. Strong Financial Performance For FY2004, Vita's revenue rose 48.4% to S$18.7 million, from S$12.6 million. The Group's net profit increased 195.0% to S$5.9 million, from S$2.0 million. Its net profit margins for ship chartering grew to 52.8% from 31.6%, whilst net profit margins for property leasing rose to 16.2% from 10.0%. The ship chartering business contributed 74.7% to the Group's profit before tax with the property leasing business contributing the remaining 25.3% in FY2004. Growth Prospects and Future Plans Said Ms Christine Sim: "We are expecting an increase in demand for our container and cargo vessels, due to the rapid economic growth of the PRC. We believe the higher demand for our vessels will allow us to negotiate for better charter rates and present us with opportunities to expand our ship chartering business by increasing our fleet size. We are currently building two new vessels and have an option to build another two vessels. We are also considering the purchase of larger bulk carriers and newer vessels of less than 15 years old, to secure higher charter rates." For its property leasing business, the Group believes measures by the Ministry of Manpower ("MOM") to house foreign workers in the construction and marine industries within approved dormitories will push up the demand for dormitories. "We believe Vita is well positioned to benefit from the MOM's new measures due to our prior experience in managing and providing approved dormitories to foreign workers. Our decision to enter the student hostel business is also expected to pay off. As Singapore develops into an education hub for the region, there will be a need for more international student hostels, as can be seen from our experience with Vita Hostel. We intend to leverage on our expertise to diversify and expand our hostel business by providing hostel management services to other hostels. This will provide us with good returns at a low cost. We have already signed a memorandum of understanding with Katong Hostel to provide management services," said Ms Christine Sim. The Group has an order book of S$29.7 million, as at the Latest Practicable Date of which S$13.6 million to be recognised in FY2005. Anyone who wishes to subscribe for Vita's shares will need to make an application in the manner as set out in the prospectus. Copies of the prospectus can be obtained on request, subject to availability, during office hours from HL Bank, members of the Association of Banks in Singapore, members of the SGX-ST and the SGX-ST website: http://www.sgx.com. |
| (Post 2 of 83) 01/17/2005.15:59:54 |
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vitally needs vitamin A |
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| (Post 3 of 83) 01/17/2005.16:10:34 |
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Tradesman, dun understand ur picture.... |
| (Post 4 of 83) 01/18/2005.21:19:54 |
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STAG stock hostels and ships...yawn! juz like vita with or without mins. better take some vitmains for long term performance...NOT for me! |
| (Post 5 of 83) 01/18/2005.21:21:20 |
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sell the pops! |
| (Post 6 of 83) 01/24/2005.17:47:35 |
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maybe more than vitamin A...maybe steriods to enhance performance or something else... |
| (Post 7 of 83) 01/26/2005.21:04:05 |
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VITA HOLDINGS LIMITED
VITA HOLDINGS LIMITED - IPO BALLOTING RESULT Pls view announcement here. |
| (Post 8 of 83) 01/26/2005.21:07:09 |
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Vita Holdings
ANNOUNCEMENT PURSUANT TO PARAGRAPH 7.2 OF PRACTICE NOTE 2.1 OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED LISTING MANUAL Pls view announcement here. |
| (Post 9 of 83) 01/27/2005.10:37:22 |
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VITA HOLDINGS LIMITED
VITA’S INVITATION OF 40.5 MILLION SHARES IS 6.12 TIMES SUBSCRIBED - Attracts Strong Institutional Interest Pls view announcement here. |
| (Post 10 of 83) 02/02/2005.12:10:05 |
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Even this counter same day traded as Asia Tiger also run back abit liao....AT's turn should come. Patiently waiting.... |
| (Post 11 of 83) 02/02/2005.12:15:00 |
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Cleared 20cents...  |
| (Post 12 of 83) 02/02/2005.12:18:50 |
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Here comes 205....CHEONG ARRHHHH |
| (Post 13 of 83) 02/02/2005.12:21:14 |
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tsunamistical effect well done vita! |
| (Post 14 of 83) 02/02/2005.12:21:28 |
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Wah Sei, 205 cleared...come 210 liao......here comes the 1 lotter. Know what they mean? |
| (Post 15 of 83) 02/02/2005.13:44:02 |
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Technically bullish if it clears 22 cents since this was the highest done on the first day of trading. Once it clears 22 cents, I would say the sky's the limit...
Not vested. Subscribed IPO but not successful. |
| (Post 16 of 83) 02/02/2005.15:10:03 |
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boy...21.5 cleared for today already very very good. 22.0 leave it to tomorrow... |
| (Post 17 of 83) 02/03/2005.09:17:39 |
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stevenboy, 220 will be broken soon.... |
| (Post 18 of 83) 02/03/2005.09:53:04 |
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Stevenboy, saw the clear of 0.220?  But not very convincing one, so may not run up too far....best of luck!!  |
| (Post 19 of 83) 02/03/2005.09:59:54 |
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After saying, it show us the power by buying up 1.976Mil @ 0.2220...hurray....CHEONG ARRHHHH |
| (Post 20 of 83) 02/03/2005.10:07:54 |
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Congrates!!!!! |
| (Post 21 of 83) 02/03/2005.10:13:54 |
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But my AsiaTiger did not move. Must WAITLONGLONG liao.... |
| (Post 22 of 83) 02/03/2005.10:24:06 |
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Fierce battle going on......like Arsenal vs MU |
| (Post 23 of 83) 02/03/2005.10:28:20 |
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Trying so hard to form solid support @ 22, i don think they will give
it up so easily....more...much more upside is on the way.... |
| (Post 24 of 83) 02/03/2005.10:31:21 |
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It has managed to clear 0.225....this time sky high liao!! |
| (Post 25 of 83) 02/03/2005.10:46:53 |
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newbie, what price do you think it can go?  |
| (Post 26 of 83) 02/03/2005.10:52:38 |
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Anyway, me ouy liao....moving over to niaokia |
| (Post 27 of 83) 02/03/2005.10:56:22 |
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| (Post 28 of 83) 02/03/2005.10:57:31 |
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honestly i wish i know but anything above 22 will make me happy. i do know this counter have some big fund who bot the placement shares.
Hope they 're not pushing it up to throw. Better still, if they increase holding then the sky is the limit....but now better concentrate on the 22 level. Still not very secure support yet.... |
| (Post 29 of 83) 02/03/2005.11:00:07 |
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Me think so that's why out. Anyway, gotten some 0.215 of AT yesterday. Now hope to increase more after letting go Vita to profit! |
| (Post 30 of 83) 02/03/2005.11:00:52 |
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ha ha...guess i won't b seeing u here liow.....Waitlonglong.... |
| (Post 31 of 83) 02/03/2005.11:09:31 |
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contra player will definitely be tempted to take profit at this level.....but i've a feeling it's jus the beginning of a meaningful
rally on this counter. anyway $$ in the pocket is wat tat counts.  |
| (Post 32 of 83) 02/03/2005.14:55:32 |
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| (Post 33 of 83) 02/03/2005.15:01:37 |
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Aiyah....too bad....get out too fast... |
| (Post 34 of 83) 02/03/2005.15:10:49 |
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hope you 're not selling a winner & end up with a loser. buy low sell high is not wrong. u still can buy high sell higher.......
not 4 the faint heart thou...... |
| (Post 35 of 83) 02/03/2005.15:16:09 |
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Anyway, me still thinks that AT still got chance to run up. Can see the volume is increasing from the 4th day's low of 3.196Mil traded. Yesterday was 4.058Mil and today as of now, 7.508Mil. Good sign! |
| (Post 36 of 83) 02/03/2005.15:32:08 |
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confirm 22 has b'come the solid support. tat means it's not distribution but more on genuine accumulation.
Anybody still holding tis precious diamond? |
| (Post 37 of 83) 02/03/2005.16:20:59 |
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the invincible hand is making sure those who sold will never have a chance to buy back @ lower price.....so arrogant......wonder how long can they last..... |
| (Post 38 of 83) 02/03/2005.16:25:09 |
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Ya lor....  |
| (Post 39 of 83) 02/03/2005.16:31:55 |
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lucky cut starcruise @ 30 lose 1K Or else have 2 sell backside liow...Don know whether Kaze wan or not.... |
| (Post 40 of 83) 02/03/2005.16:32:26 |
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| (Post 41 of 83) 02/03/2005.16:32:33 |
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Congrats NewBie...me missed this vessel liao....0.240 cleared... |
| (Post 42 of 83) 02/03/2005.16:34:59 |
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Newbie88,
You gal or guy?  |
| (Post 43 of 83) 02/03/2005.16:37:17 |
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Kaze...u interested ha? how 2 contact u??? i know u have lots of admirer here....later they kabush me how? |
| (Post 44 of 83) 02/03/2005.16:41:27 |
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Newbie88,
I am only interested to know why do you want to sell your backside in open forum ...
Should go ebay to sell mah ... maybe can get higher price ...
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| (Post 45 of 83) 02/03/2005.16:44:29 |
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false alarm.......tot u interested. so sad..... |
| (Post 46 of 83) 02/03/2005.16:50:26 |
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really stupid...should have shorted Starcruise tis morning then can offer Kaze free trip cruise to nowhere.... |
| (Post 47 of 83) 02/04/2005.01:49:06 |
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So this is the Invincible Hand behind the move. Anybody know who is he?
1. Date of change of Interest 03-02-2005 2. Name of Registered Holder Chong Thim Pheng 3. Circumstance(s) giving rise to the interest or change in interest Open Market Purchase # Please specify details 4. Information relating to shares held in the name of the Registered Holder No. of Shares held before the change 2,000,000 As a percentage of issued share capital 0.760 % No. of Shares which are subject of this notice 11,800,000 As a percentage of issued share capital 4.487 % Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0 No. of Shares held after the change 13,800,000 As a percentage of issued share capital 5.247 % |
| (Post 48 of 83) 02/04/2005.09:07:53 |
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opened price with 1cent gap. can short or not?? |
| (Post 49 of 83) 02/04/2005.09:10:19 |
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now 2.5 cents up...u shorted??? |
| (Post 50 of 83) 02/04/2005.09:12:02 |
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Don play play. This counter easily cornered. |
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