Hi Uncle Cheongwee,

Know your big name thru SAR.  Yes, I agree with you, this Biosensor is a slow one and a letdown, regret buying too 1 month ago when it was 0.525.  Missed the boat to sell yesterday at 0.555 due to greed as I was queuing 0.585. 

May I know what you mean by S-chips?  Sorry a bit mountain tortoise here, blue chips I know but not s-chips.  You recommended Li Heng and Long cheer, but I don't fancy any more china stocks as I got stuck with Ferro China which now got suspended.  Had learnt a lesson and will never buy china stocks again as you never know the financials are how true. 

Kindly advise.

Thanks.

Biosensors International Group: Sustaining market share growth

 Biosensors International Group (Biosensors) posted results that beat our expectations. The group posted 1Q10 revenue of US$23.8m (+6% QoQ, -66% YoY) and net profit of US$4.2m (about 10x QoQ growth). Stripping out the one-time US$41m licensing fee in 1Q09, gross profit would have grown about 70% YoY. This quarter is especially pivotal as the group’s performance was primarily driven by its core business, not through exceptional items. We continue to be encouraged by its topline growth, implying market share acquisition and growing acceptance and product entrenchment within the medical community. Biosensor’s 50%-owned Chinese JV also outperformed our expectations with strong market penetration of its products. We continue to view JWMS as a key component of the Biosensors’

long-term China strategy. Competitors are also starting on the same technology track as Biosensors, creating a positive clinical marketing wake effect for Biosensors to boost future sales. We have retained our estimates and prefer to see sustainability of JWMS performance and a more predictable pattern in licensee royalties prior to refining forecasts. We are maintaining our medtech discounted model with a fair value of S$0.74.

Maintain BUY. (Kelly Chia)

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Yes and no, depends on your invstment strategy, if you like shorting then this is not for you, if you want to park and come back to peek from time to time, this may be a better one than others. I listened to the announcement last night and fell asleep, what I gathered is that they got the 2 million profit without extra-ordinary income like Turomo last Q, and the most important thing is sales, it increased ! Sales team beefed up. Positive cash although need to have more working capital, so Bengster could be right with the options  to get more cash for operation use and the magnitude seems reasonable, so in short, I will long it....come back and peek every quarter...anyway those who have a day job cannot short so much, so this is probably is a good candidate to consider.