A few of the companies in my portfolio announced their financial results for August. A bullet view of each companies development and/or results follows.
Action Asia: Dato’ Peng Chiun-Ping re-designated from a Non-Executive Chairman to Executive Chairman.
Asiatic Group: Increased investment in Vietnamese subsidiary, Colben Energy, by $5m. The proceeds are to finance the current development of the power plants. The Company expects the construction of Phase 1 – the Coc San Hydroelectric Plant
to begin before the end of 2010, after details of the connection agreement and power purchase agreement with state-owned utility, Electricity of Vietnam are concluded.
Biosensors International: Drug Eluting Stent system recieved approval for sale in Taiwan.
China Animal Healthcare: Company submitted on 23 August its application to the HKSE
for the dual primary listing of its shares by way of introduction. There will not be any issuance of new Shares pursuant to the HK Listing.
Elite KSB: Full year earnings up 41% on the back of a 33.8% increase in revenue. This was contributed mainly by the consolidation of the JFIP, but the company remains affected by the strength of the Aussie dollar. Declared dividends of 1.5 cents per share.
Etika International: Templeton Strategic Emerging Markets Fund III subscribed $28m of Etika's zero coupon convertible bonds.
FJ Benjamin: Full year revenue slipped 4% but the retailer turned around with a profit of $9.2m. Declared 2 cents per share dividend.
GMG Global: Set up a JV company in Thailand.
Stratech: Appointed a former Compaq man as deputy chairman and executive director.
TPV Tech: As per earlier post, declared US 0.76 cents dividend. The panel maker anticipates that its flow of orders — and hence revenue and profit margins — will be affected by the headwinds of uncertainty about demand.
UOB-KayHian: Revenue for the first 6 months increased 19.9% with earnings rising 53.5%. Declared interim dividend of 0.5 cents per share.