Hi-P   

HI-P INTERNATIONAL LIMITED

DMG & Partners on Hi-P

http://sg-shares.blogspot.com/2012/02/hi-p-international.html 

 

 

Hi-P faces severe  labour unrest in Shanghai......but co has denied all rumours.

  Strikers clash with police in Shanghai

(AFP) –  2 Dec  

SHANGHAI — More than 1,000 workers at a plant in China's commercial hub Shanghai went on strike for at least two days, some clashing with police, to protest staff being laid off, a rights group said Friday.

Several workers were injured in conflict with police at the factory, owned by a Singapore electronics firm that supplies companies including Apple and computer maker Hewlett Packard, US-based China Labor Watch said in a statement.

The protest -- the latest in a spate of unrest in China as an increasingly demanding workforce faces off with employers struggling with high costs and falling exports -- broke out Wednesday after the company laid off about 1,000 people.

Staff claimed they lost their jobs without notice and were given inadequate compensation, China Labor Watch said. The workers were laid off because the company planned to move production elsewhere.

The strike appeared to be continuing Friday, with more than 50 workers wearing blue uniform jackets standing inside the factory as police in two vehicles looked on.

The factory's owner, Singapore-based Hi-P International, told AFP the impact of the strike was " very minimal" and said it was " working with the relevant authorities" .

Shanghai police could not be reached for comment Friday. A police statement Thursday put the number of strikers at over 100 and said they blocked the gate of the factory -- which makes home appliances -- and disrupted production.

The factory's lease will end next year and workers were unhappy over the severance pay offered, it said.

Hi-P International manufactures for the telecommunications, consumer electronics and computing industries, according to its website.

The unrest comes as China's exports and manufacturing activity weaken, hit by falling demand due to economic woes in Europe and the United States -- both crucial markets for the export-driven economy.

Last month, more than 7,000 workers went on strike at a factory in the southern province of Guangdong making New Balance, Adidas and Nike shoes, clashing with police in a protest over layoffs and wage cuts.

Also last month, hundreds of female workers walked off the job at a bra factory in the southern city of Shenzhen, the manufacturing metropolis that borders Hong Kong, to demand overtime payments.

Copyright © 2011 AFP. All rights reserved

 

Those who had kept holding, or worse, averaged down

    ('cheap-cheap') would have been really pengsan...

            Because it fell and fell to the low of  .49  this month.

catalyst      ( Date: 04-Jul-2011 20:34) Posted: Wow, Hi-P is taking a real beating now. May see 92cts soon. Luckily didn't re-enter after taking some profit months ago.

 

Hi-P expects lower 3Q net profit

Tags: Hi-P | Hi-P International

Written by The Edge

Friday, 21 October 2011 22:44

 

Hi-P International Limited on Friday said that it expects to post a weaker net profit for the third quarter and nine months ended September 30, 2011 compared to a year ago, due to increased labour and material costs.

Hi-P issued the profit warning despite expecting igher revenue for the quarter and nine-month period due to new projects.

This is the second consecutive quarter the integrated contract manufacturer has issued a profit guidance.



 

/t edge/

 

 

Wow, Hi-P is taking a real beating now.

May see 92cts soon.

Luckily didn't re-enter after taking some profit months ago.

 

PROFIT GUIDANCE IN RELATION TO THE COMPANY’S FINANCIAL PERFORMANCE FOR

THE THREE AND SIX MONTHS PERIOD ENDED 30 JUNE 2011

The Group expects to report lower revenue and a significantly lower net profit after tax for the

second quarter of the financial year (“

FY2011 (“FY”) 2011 (“2Q2011”) as compared to the first quarter of1Q2011”). - Monday may see its price  going down...

 

Hi-P: US-based RIM fell 15% after sharply reducing its forecasts, likely to cause some selling pressure on Hi-P. In prev reports DBS has est RIM to contribute 30-35% of co’s rev and Apple at approx 15%...

While co may be negatively impacted by RIM’s new forecasts, on the flipside, co counts Apple as one of its clients and is involved in supplying parts for the iPhone and iPad. Co is still viewed as one of the counters exposed to the smartphones (est 50% of rev) and tablet PC (25%) mkt. Hi-P trades at 8.8x current P/E but has fell from peak of $1.24 to $1.01 and is on a steep decline.

 

Sigh, this counter is not holding up well

DBS has downgraded it to HOLD with price target of $1.28

 

Proposed first and final tax exempt one-tier dividend of 3.6 Singapore cents per ordinary share for the financial year ended 31 December 2010   

NOTICE IS HEREBY GIVEN that the Share Transfer Books and Register of Members of the Company will be closed on 6 May 2011 for the purpose of determining Members' entitlements to the first and final dividend to be proposed at the Annual General Meeting of the Company to be held on 25 April 2011.

Duly completed registerable transfers in respect of the shares in the Company received by the Company's Share Registrar, Tricor Barbinder Share Registration Services (a division of Tricor Singapore Pte. Ltd.), 8 Cross Street, #11-00 PWC Building, Singapore 048424 up to 5.00 p.m. on 5 May 2011 will be registered to determine Members' entitlement to such dividend. Members whose Securities Accounts with The Central Depository (Pte) Limited are credited with shares in the Company as at 5.00 p.m. on 5 May 2011 will be entitled to the proposed dividend.

The proposed first and final dividend, if approved by the members at the Annual General Meeting, will be paid on 19 May 2011.

By Order of the Board

Yao Hsiao Tung
Executive Chairman and Chief Executive Officer
29 March 2011   

 

Fly lah!! Lai lai!!

 

Hi-P rebounded up with much conviction after passing oversold region.

RSI surfacing above 30%.

Correction could be over for this stock? I think so.

See if it can see daylight of 1.18 by Friday.

 

Hi-P cheong ah!!!

 

DAY HIGH :   1.230    NET CHANGE :   0.050    TOTAL VALUE :   1,797,510    DAY LOW :   1.180    LAST DONE :   1.220    VOLUME :   1,504  <> Time Last Vol Buy/Sell 11:53:34 1.220 1 S 11:53:28 1.220 56 S 11:53:10 1.220 1 S 11:51:15 1.210 10 B 11:48:42 1.210 10 B

('',)

Bon3260      ( Date: 31-Dec-2010 20:51) Posted: Hi-P has reached record high of 1.150 on 13-Oct-2010. Hi-P'll try another Stage of 1.300. Hope it can makeit in yr 2011.   Note: On 19-Mar-2010, Hi-P was close @ 0.635 On 31-Dec-2010, Hi-P was close @ 1.020 ('',) Bon3260      ( Date: 20-Mar-2010 14:53) Posted: Hi-P's presently facing corrections during our STI 2,900 - 2,950pts. Once corrections over, Hi-P'll cheong till 0.70+ & abv... ('',)

 

Credit Suisse recommends BUY with Target Price at $1.40

  ● Hi-P’s 4Q10 results, with Dec-quarter revenue at S$343.8 mn

(+102% YoY, +20% QoQ) and net profit at S$35.9 mn (+715%

YoY, +8% QoQ), were ahead of consensus and our estimates,

largely due to stronger-than-expected margins.

● Gross margin improved to 23.9%, driven by the ramping up of

new programmes in 4Q. Hi-P’s balance sheet remains strong at

S$211 mn net cash (S$174 mn at end Sep-10), and management

announced a dividend of S3.6cts (+20% YoY).

● We expect Hi-P’s smartphone and media-tablet programmes to

gain traction in FY11, and have raised earnings by 42-51% on the

back of stronger volume growth and margin outlook. Management

guided for a QoQ fall in volumes in 1Q11 (on seasonality), and a

YoY improvement in revenue and earnings for FY11.

● Going forward, we see Hi-P as well-leveraged into two core themes

in our tech porfolio – further momentum in smartphone demand (in

1H11) and media-tablets as a key new product cycle starting 2H11.

Our new target price is S$1.40, still pegged to 11x P/E. With 26%

potential upside, we upgrade from Neutral to OUTPERFORM.

Good Luck 

 

Hi-P: Announced 4Q10 and FY10 result, which was slightly ahead of consensus. FY10 Rev of $957.7m, +27.7%YoY, while Net Profit at $66.9m, +25.8%YoY and +7% ahead of average consensus. Increase comes on the back of a record 4Q10, which saw Grp generate a $35.9m in net profit, +762.1% YoY.

Grp’s FY10 rev benefitted from a ramp up of new projects in 2H10 and grew 27.7%YoY to $957.7m. With economies of scale, improved productivity, product mix and overall effective cost control. Effective tax rate however increased from 17.1% to 24.2mainly due to higher income tax rates for our PRC subsidiaries.

Going forward, grp expects significantly higher rev and profit in 1Q11 as compared to 1Q10 but lower rev and profit as compared to 4Q10 due to seasonality factors. Management has guidance for FY11 to register higher revenue and profit vs FY10.

Balance sheet remains strong, with grp having a net cash position of $211m. At current levels, grp trades at a 14.2x FY10 PE, on an ex cash basis, grp trades at 11.3x PE vs peers average and historical average of 14x.

 

FULL YEAR RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

* Asterisks denote mandatory information

 

" DISCLAIMER:- This announcement was prepared and issued by the below mentioned listed issuer to the Exchange. The Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement and is posting this announcement on SGXNET for the sole purpose of dissemination only. In the event of any queries or clarification required in respect of any matters arising from this announcement, such queries are to be made to the listed issuer directly and not to the Exchange. The Exchange shall not be liable for any losses or damages howsoever arising as a result of the circulation, publication and dissemination of this announcement."

 

Name of Announcer *	HI-P INTERNATIONAL LIMITED
Company Registration No.	198004817H
Announcement submitted on behalf of	HI-P INTERNATIONAL LIMITED
Announcement is submitted with respect to *	HI-P INTERNATIONAL LIMITED
Announcement is submitted by *	Yao Hsiao Tung
Designation *	Executive Chairman and Chief Executive Officer
Date & Time of Broadcast	21-Feb-2011 18:21:33
Announcement No.	00106

 

 

> > ANNOUNCEMENT DETAILS

The details of the announcement start here ...

 

For the Financial Period Ended *	31-12-2010
Description	Please refer to attachments.

 

Attachments

HiP_FY2010_Financial_Results.pdf   HiP_FY2010_Press_Release.pdf   HiP_FY2010_Presentation.pdf Total size = 548K

Bon3260      ( Date: 31-Dec-2010 20:51) Posted: Hi-P has reached record high of 1.150 on 13-Oct-2010. Hi-P'll try another Stage of 1.300. Hope it can makeit in yr 2011.   Note: On 19-Mar-2010, Hi-P was close @ 0.635 On 31-Dec-2010, Hi-P was close @ 1.020 ('',) Bon3260      ( Date: 20-Mar-2010 14:53) Posted: Hi-P's presently facing corrections during our STI 2,900 - 2,950pts. Once corrections over, Hi-P'll cheong till 0.70+ & abv... ('',)