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241-260 of 690
wait and wait and wait...only to feel more disappointed with this counter
Dead tomorrow......
Media Release
Baker Tech reports net profit of S$20.3 million for 9M 2010
Revenue 13.8 28.8 (52) 26.8 63.7 (58)
Cost of goods sold (9.3) (9.0) 3 (13.4) (26.3) (49)
Gross Profit 4.5 19.8 (77) 13.5 37.4 (64)
Share of Associates 0.03 0.03 - 0.3 (0.5) NM
Profit before tax 0.5 21.6 (98) 21.9 35.8 (39)
Net Profit 0.08 18.7 (99) 20.3 30.2 (33)
Basic EPS* (cents) 3.03 4.76 (36)
Diluted EPS+ (cents) 2.09 4.74 (56)
* based on a weighted average number of 670,473,313 ordinary shares for the financial period ended 30 September
2010 (30 September 2009634,201,369)
+ based on the number of ordinary shares in issue during the financial period ended 30 September 2010 adjusted for
dilutive effect of 300,312,934 warrants (30 September 20092,788,298 warrants).
2 November 2010 Baker Technology Limited (Baker Tech‟ or the Group‟) 巴克科技有限公司,
a SGX-ST mainboard-listed manufacturer and provider of specialised marine offshore equipment
and services for the oil and gas industry, has reported a net profit of S$20.3 million on group
revenue of S$26.8 million for the nine months ended 30 September 2010 (9M 2010). For the
quarter ended 30 September 2010 (3Q 2010), the group achieved a group revenue of S$13.8
million and a net profit of S$82,000 due mainly to the slowdown in the global oil and gas sector.
3Q 2010 Performance
Revenue fell 52% to S$13.8 million as compared to a year ago. Order intake had slowed down
significantly in 2009 as many oil and gas projects were delayed due to the global economic crisis.
However, the Group began to feel the impact of the slowdown in the global oil and gas industry
only after 3Q 2009 as it was still completing the backlog of orders secured in earlier years. Order
intake has started to resume early this year and 3Q 2010 revenue had in fact, doubled from the
S$6.8 million reported in 2Q 2010.
Gross profit was down 77% from S$19.8 million to S$4.5 million due to lower gross margins as
most of the current projects are still in the early stages of completion.
Administrative expenses decreased from S$2.0 million to S$1.8 million in 3Q2010 due to lower
payroll expenses, which was however partially offset by higher professional and legal fees.
Contribution from its 49%-owned associate, York Transport Equipment Asia (York) held steady at
$31,000 for 3Q2010 as compared to a year ago.
BAKER TECHNOLOGY LIMITED
Company Registration No.: 198100637D
2
The Group suffered a foreign exchange loss of S$2.4 million as the US dollar weakened against
the Singapore dollar, resulting in a lower net profit of S$82,000 in 3Q2010. For the period under
comparison, the US dollar had weakened approximately 6%.
9M2010 Performance
Revenue decreased 58% to S$26.8 million for 9M2010, reflecting the lingering effects of the
slowdown in the global oil and gas industry. Consequently, gross profit fell 64% to $13.5 million.
Gross profit margin was about 50% for 9M2010, due to the recognition of profits on several
projects which were either completed or near completion during the first half of the year, as well as
a write-back of unutilised warranty provision of approximately $1.7 million in 9M2010.
Contribution from the Group‟s 49% stake in York reversed from a share of losses of S$512,000 for
9M2009 to a share of profits of S$262,000 for the corresponding period this year. This is due to an
improvement in trailer axle industry and a strong demand for its products in the Indian market in
recent quarters.
Net profit for 9M 2010 declined from S$30.2 million to S$20.3 million.
Strong Financials
Net cash used in operating activities for 9M2010 was S$0.4 million, down from S$3.5 million in the
previous quarter due to higher project progress billings and increase in business activities. The
Group‟s available cash and cash equivalents remain healthy at S$72.7 million as at 30 September
2010, up from $67.8 million a year ago. This is mainly attributable to the net proceeds from
conversion of warrants and dividend income from PPL Shipyard, after deducting dividends paid out
to shareholders earlier in the financial year. The Group has no bank borrowings.
Consequently, shareholders‟ fund increased from S$99.5 million as at 31 December 2009 to
S$113.3 million at 30 September 2010. Net asset value per share as at 30 September 2010 stood
at 16.6 cents, up from 15.2 cents.
Order book
As at end September 2010, the Group‟s net order book stood at US$20 million, marking a recovery
from the low of US$7 million as at end December 2009. These orders are expected to be
completed within the next 12 months.
Outlook
According to its International Energy Outlook 2010 (July 2010), the Energy Information Administration
(EIA), a U.S. forecasting agency, expected total global energy demand to grow by 49 percent from 2007
to 2035, with developing countries like China and India driving the bulk of the increase. EIA added that
although renewables are the fastest-growing source of world energy supply, fossil fuels are still set to
meet more than three-fourths of total energy needs in 2035.
The long term fundamentals of the marine and offshore oil and gas industry are still very
promising especially after the Macondo oil spill at the Gulf of Mexico earlier this year. The
oil and gas industry is moving with greater urgency towards higher safety standards and
this spells opportunities for Baker Tech; our specialised equipment are widely recognized
as best-in-class and conforms to the highest industry standards.
We expect FY2010 to be a profitable year, with positive contributions from our core
operating business and investments.
can someone explain y this counter is not moving at all...stuck at 0.415 forever
i hate this counter..........
GOOD !!!
Dont miss the boat !!!!! Monday UPUPUP !!!!
Why?? Because red red red green !!!!!
WHY it tOOk sO lOng ?
tO dO gOOd thIng ?
Flyordie ( Date: 23-Oct-2010 19:18) Posted:
|
BAKER TECHNOLOGY LIMITED
(Unique Entity Number 198100637D)
(Incorporated in the Republic of Singapore)
NOTIFICATION OF RESOLUTION PASSED AT EXTRAORDINARY GENERAL
MEETING
The Board of Directors of Baker Technology Limited (the
circular to shareholders dated 8 October 2010 (the
Proposed Disposal.
Capitalised terms used in this announcement shall have the same meanings as defined
in the Circular unless the context requires otherwise.
Pursuant to Rule 704(14) of the Listing Manual of the Singapore Exchange Securities
Trading Limited, the Company wishes to inform that at the EGM of the Company held
today, the ordinary resolution pertaining to the disposal by the Company of the entire
issued and paid-up share capital of PPL Holdings Pte Ltd to QD Asia Pacific Ltd based
on the terms of the Amended Agreement as set out in the Notice of EGM dated 8
October 2010 was duly passed by the Shareholders.
By Order of the Board
Baker Technology Limited
Aw Seok Chin
Company Secretary
Singapore
23 October 2010 Company) refers to theCircular) in relation to the |
|
After selling PPL to YZJ, Backertech should be cash rich now. I guess need patience to wait for they to make their strike
Is this counter hopeless already? might have to cut loss
also in the red. very disappointing
I doubt so will ever go up. I am still in red. Vested in CPF for months.
www.myedutrade.com
stocksburntme ( Date: 21-Oct-2010 10:11) Posted:
| when will this bugger go up !! |
|
BAKER TECHNOLOGY LIMITED
(Unique Entity Number 198100637D)
(Incorporated in the Republic of Singapore)
NOTIFICATION OF RESOLUTION PASSED AT EXTRAORDINARY GENERAL
MEETING
The Board of Directors of Baker Technology Limited (the
circular to shareholders dated 8 October 2010 (the
Proposed Disposal.
Capitalised terms used in this announcement shall have the same meanings as defined
in the Circular unless the context requires otherwise.
Pursuant to Rule 704(14) of the Listing Manual of the Singapore Exchange Securities
Trading Limited, the Company wishes to inform that at the EGM of the Company held
today, the ordinary resolution pertaining to the disposal by the Company of the entire
issued and paid-up share capital of PPL Holdings Pte Ltd to QD Asia Pacific Ltd based
on the terms of the Amended Agreement as set out in the Notice of EGM dated 8
October 2010 was duly passed by the Shareholders.
By Order of the Board
Baker Technology Limited
Aw Seok Chin
Company Secretary
Singapore
23 October 2010
Company) refers to theCircular) in relation to the
when will this bugger go up !!
red red red green red red red
After 4 over months side way trade it should time for BakerTech to fly ! Nasdex doing well on Friday let see Singapore tech stock on Monday. Good Luck !
i sold away some at loss, now left with 50 lots ave 0.44
Bro,how many lots have you vested? I got 45 lots. average 0.43. You?
stocksburntme ( Date: 14-Oct-2010 20:09) Posted:
| wonderful stock. best of the best.
|
|
