The Innotek analysts' meeting yesterday was well attended.  The company has restarted its IR engagement programme now that its business is improving and probably because it has better things to say to investors.

 Sing Holdings has just released the following announcement on the Laurels.  The selling price is S$2850 psf - slightly higher than my estimate of S$2800 psf.  It also indicated that it has already sold 80 units or 35% of the development to previous owners of Hillcourt, directors, staff and business associates.

 It has come to my attention from talking to some subscribers that they are not aware that they have to opt in or sign up to receive email alerts whenever I make a change or give an update for my Stock Picks.   The email alert is sent out at the same time I change or update the recommendations.

 I finally got to meet the owner/shareholder and CEO of AEI and was comfortable that he knew the business and was very conservative.  I still like the stock after the meeting but forward guidance is still short with a firm order book of about one and half and half months.  The key for AEI in 2010 will be costs, ie a stable aluminium price and energy prices.  I say stable because they are exposed for about one and half months in terms of raw material price fluctuations for their orders.  The aluminium price will also affect the value of scrap sales which is a significant earnings contributer.

 9 units of the Laurels have been sold to the major shareholder, director and or their spouse or children according to an SGX filing.  Indications are that the official launch will be this Friday March 13, 2010.  Depending on the public response - this is the catalyst I am waiting for the rerating of Sing Holdings.

 The recent weakness in stock markets globally has been blamed on the debt crisis in Greece and whether this will spill over to other members of the EU such as Portugal and Spain.   The Euro has been punished down during this period - the same for GBP (see charts below).

Sing Holdings, one of my Stock Picks (focussed mainly on the profit from the Laurels) was reported to have sold 35 units of the Laurels at prices ranging from S$2500 psf to S$2900 psf.   Well its within range of my expected average price of S$2800 psf and the company did announce in its 2009 results release that it would launch the Laurels before the end of this month. 

 Midas Holdings, one of my Stock Picks, has announced that its planned dual listing in Hong Kong will be via a Global offering of 300mn new shares and an over allotment of another 40mn new shares if demand is good.  The pricing of the issue will be at a 10% discount to the Singapore price.  The offering is apparently being done by CFSB (market sources but unconfirmed).  In the above announcement, Midas indicates how the Singapore price will be fixed and also that the listing will be aborted if the underwriters cannot agree with the offer price.  No submission has yet been made to the HKSE but as the process may involve significant documentation - the timing of the submission and the eventual dual listing may be some time away (we dont know the timing).  About two thirds of the funds raised will be for capex to meet the demand from the new orders.

Wasnt able to attend the full meeting of its FY2009 results because it started 20 minutes late and I had another appointment but a quick check with others attending was that I didnt miss much.

 I attended the Hock Lian Seng 2009 results briefing session for analysts last evening.  There were some new information which I felt are worth sharing with investors: