As featured on The Edge
Earnings of Enviro-Hub Holdings came in at $0.7 million in 1HFY21 ended June, a reversal from the losses of $1.6 million logged in the year before.
On a fully diluted basis, this translates to earnings per share of 0.042 cents, compared to losses per share of 0.154 cents in 1HFY20.
With this, net asset value per share was 4.24 cents as at June 30, versus 4.50 cents on Dec 31.
Revenue for the first six months of the year was up 19.6% y-o-y to $17.7 million, thanks to a 78.8% jump in revenue from its e-waste recycling segment.
As featured on Khmer Times
Hong Lai Huat has been farming in Cambodia since 2008. The Singapore company got off to a rocky start, because its original crop was corn, which is labour-intensive and dependent on the right weather. It switched to cassava in 2013 because it is more resilient than maize – and saw profits take off.
Aoral Farm is now one of the largest privately owned cassava plantations and starch factories in the Kingdom. It occupies 10,000 hectares of land in Kampong Speu province. Sold under the CAMFARM brand, the farm supplies as much as 100,000 tonnes of cassava starch, also known as tapioca, a year.
The Coronavirus pandemic made Hong Lai Huat realise the importance of food security so it decided to sell off its Singapore Farm Resort, which was mainly focused on hotels, restaurants and beer gardens, and use the money to turn Aoral Farm into a mixed-use agricultural hub one seventh the size of Singapore.
As featured on The Business Times
THE proposed sale process of mm2 Asia MM2 Asia: 1B0 +4.84%‘s cinema business will run in parallel with its runway toward listing it on the Singapore Exchange’s Catalist board, the company said on Tuesday.
In a bourse filing, the company said that notwithstanding the pending offer for 80 per cent of the business, called mm2 Connect, from local investor Kingsmead Properties pegged at a range of S$80 million to S$120 million, its proposed initial public offering (IPO) continues and will proceed if market conditions are favourable and shareholders approve the plan.
In other words, if Kingsmead is unable to complete its acquisition ahead of mm2 Connect’s IPO, the transaction will not proceed, the entertainment firm said. Instead, as previously announced, Kingsmead will have the option of using the S$3 million in deposit it has paid to mm2 Asia so far to purchase shares in mm2 Connect at a discount to the cinema IPO price.
Both transactions will require the approval of mm2 Asia’s shareholders, its board added.
Enviro Healthcare, a wholly-owned unit of Enviro-Hub Holdings, has entered a sale-and-purchase agreement for its planned acquisition of the remaining 75 per cent stake in an associate, Pastel Glove, for S$46.8 million.
The mainboard-listed company previously disclosed on May 21 that it would pay S$23.4 million in cash for Pastel Glove, and issue 292,500,000 new shares at S$0.08 apiece. There will be a one-year moratorium for the shares.
Singapore is internationally recognized as one of the world’s top maritime ports, accorded as the world’s Top Maritime Centre for 8 consecutive years by the Xinhua-Baltic International Shipping Centre Development (ISDC) Index and the world’s Top Leading Maritime Capital Of The World for 4 consecutive years by Menon Economic’s Leading Maritime Capitals Of the World report. With such accolades, Singapore is home to many marine and shipping companies. While most Singaporeans are familiar with Sembcorp Marine and Keppel O&M, Singapore is also host to many smaller players in the marine industry that all play a part in our bustling port.
One of these marine companies is Marco Polo Marine (SGX: 5LY) which has been listed on the SGX Mainboard since 2007. Macro Polo Marine operates regionally, with a significant presence in Indonesia. The company focuses on integrated marine logistics and engages mainly in shipping and shipyard operations. Their shipping operations involve the chartering of Offshore Supply Vessels (OSV) for deployment in regional waters and the chartering of tug boats and barges. As of 1HFY2021, they have 11 OSVs and 2 Maintenance Work Vessels (MWVs) in operation. For shipyard operations, the company has a shipyard located in Batam, Indonesia that can undertake projects involving mid-sized and sophisticated vessels.
In June 2021, the company also announced its plans to extend their dry dock 1 which would increase its capacity for ship repairs by 20%. This is scheduled to complete by January 2022 and expected to contribute to the bottom line from 2QFY2022. The company also announced in May 2021 their plan to increased their stake in one of their Indonesia listed entity – PT BBR to 72%. This would increase Macro Polo’s presence in Indonesia.
Aside from expanding their ship repairs capacity where they seen growth in recurrent customers and their main focus on shipping and shipyard activities, Macro Polo is also diversifying to renewables by leveraging their existing capabilities to enter into the sustainables sectors. This includes securing contracts to construct 2 smart fish farms as well as deploying vessels to work on windfarm projects.
For those interested to find out more about the marine industry or interested to invest in marine companies, here are 5 things to know about Macro Polo’s business.
As featured on The Edge
Singapore-listed Enviro-Hub Holdings — known for its forays in the recycling and property investments — has diversified into a new business: Glove making. The company, led by executive chairman Raymond Ng, is in the midst of acquiring Ipoh-based glove maker Pastel Glove. The target was set up last September by Law Siau Woei and Choo Kuan Ping — who hold stakes of 97% and 3% respectively — to meet the surge in demand for rubber gloves during the Covid-19 pandemic.
Rationalisation of the offshore service vessel industry, signs of recovery in the traditional oil and gas sector, and diversification to offshore renewables are providing a tailwind of recovery for listed Marco Polo Marine (MPM).
UOB Kay Hian has noted these trends and upgraded the marine support services company’s stock to “buy”, with a target price of 3.6 cents.
The shares, which have been trending upwards in recent days, closed at 2.8 cents yesterday.
“The rationalised oil and gas offshore support industry has shown resilience over the Covid-19 pandemic,” UOB Kay Hian noted. “Channel checks suggest vessel utilisation has been improving, helped by minimal new builds and more vessels on lay-ups.
“We like MPM for its lean operations following completion of its corporate restructuring efforts. A successful transition to new revenue sources would be a key turning point.”
The research house noted that the company’s operating and financial metrics were leaner and more efficient after a restructuring in 2017 and it was now delivering profitability and lower expenses.
Meanwhile, its balance sheet had been largely cleaned up with cash injections and reduced debt. The company was net cash to the tune of $8.8 million for the half year to March 31 this year.
三名导演是黄俊伟、邝子君和任锦添，分别执导“Sunday”（暂译《浪漫星期天》）、《芽笼》（Geylang）和“A Good Goodbye”（暂译《美好的再见》）。
As featured in Business Times.
RHB has initiated coverage on Marco Polo Marine with a “buy” call and a target price of 4.1 Singapore cents, on an expected turnaround on renewable energy.
In a Wednesday report, RHB analyst Jarick Seet said that Marco Polo’s diversification into servicing the renewable energy sector is expected to bear fruit in the next one or two years, with the oil and gas sector still the group’s major source of income in the meantime.
“We expect to see an earnings rebound, and the group to record a turnaround back to strong profitability in the next two to three years,” he said.
Renewable energy will be a significant growth area for Marco Polo, especially with the influx of investors entering the space. The group has previously secured shipbuilding contracts from Singapore Aquaculture Technologies (SAT) to construct two smart fish farms, which are set to complete by end-FY2021, he said.
He also noted that, as at H1 2021, 20 per cent of Marco Polo’s utilised vessels are already working on wind farm projects in Taiwan, where it has an edge – its vessels are built outside of China, a key requirement, less than 12 years old, a rarity for non-Chinese ships in the region, and more than well-equipped, thanks to stringent requirements for offshore oil and gas activities.
As featured in The Edge.
Integrated marine logistics company Marco Polo Marine announced, on June 14, that it intends to extend its dry dock 1 from 150 metres to 240 metres.
The extension will boost the group’s capacity for ship repairs by 20%.
The move is meant to improve the group’s bottom line over the longer term, as its ship repair operations have been a growing source of recurring income.
According to the group, some 50% to 70% of its ship repair operations business has come from repeat customers.
For the 1HFY2021 ended March, the group’s ship building and repair operations business saw a 34% y-o-y increase in revenue to $11.7 million, accounting for some 55% of the group’s overall top line.