Amtek Engineering

Re: Amtek Engineering

Postby winston » Fri Jan 14, 2011 4:57 pm

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Singapore Hot Stocks-Amtek up on surge in China car sales

SINGAPORE, Jan 14 (Reuters) - Shares of Amtek Engineering , which manufactures precision engineering, plastic and rubber components, rose as much as 6.1 percent on Friday as investors were bullish that the firm would benefit from China's buoyant car market.

At 0808 GMT, Amtek shares were up 3.8 percent at S$1.37 on a volume of 9.1 million shares. The broader Straits Times Index <.FTSTI> was down 0.3 percent.

"The share price could have gone up because of the positive media coverage on the company," said Liu Jinshu, an investment analyst at SIAS Research.

Amtek Chief Financial Officer Sheila Ng said the firm is tapping into the growing trend among global car manufacturers with operations in China to replace more expensive imported parts with locally made components.


Source: Reuters
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Re: Amtek Engineering

Postby winston » Sun Feb 13, 2011 2:49 pm

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Amtek Engineering Ltd. (AMTK SP): The supplier of precision components to companies such as Sony Corp. said second-quarter net income increased 46 percent to $13.2 million from a year ago. The stock gained 1.6 percent to S$1.24.


Source: Bloomberg
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Re: Amtek Engineering

Postby winston » Tue Jun 21, 2011 7:26 pm

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Standard Chartered Private Equity (SCPE) bought 500,000 Amtek shares in the open market on 17 June 2011, raising their holding from 28.3% to 28.4% or 154,066,673 shares.

The 500,000 shares represent 44% of that day’s trading volume when the shares traded between 91 cents to 92.5 cents.

During Amtek’s IPO in Dec ’10, SCPE had sold 115mln vendor shares at $1.30 each, raising them $150mln.

In May 2007, they had spent $258mln to privatize the company.

SCPE’s 6-month moratorium just expired on 1 June 2011. Instead of selling down further to re-coup their cost, SCPE’s open market purchase provides some comfort as it signals that they remain confident in Amtek’s prospects.

While 500,000 is insignificant compared to their existing stake as well as the 115mln vendor shares that they sold during the IPO, it nevertheless represents a significant 44% of that day’s trading volume.

With Amtek currently trading 34% off its Jan ’11 all time high and 29% off its IPO price and with its valuations down to only 6-7x PE against growth of 20-25% and also providing a decent yield of 6+%, we maintain BUY.

Source: Lim & Tan
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Re: Amtek Engineering

Postby winston » Tue Aug 23, 2011 12:51 pm

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Singapore Hot Stocks-Amtek surges as strong Q4 result eyed

SINGAPORE, Aug 23 (Reuters) - Shares of Singapore's Amtek Engineering surged as much as 12 percent on Tuesday on expectation that the manufacturer of precision engineering, plastic and rubber components will deliver encouraging fourth-quarter results.

At 0353 GMT, Amtek shares were up 8.9 percent at S$0.635 on a volume of 3.3 million shares, around 1.9 times the average daily volume so far this year.

"Standard Chartered Private Equity is a major shareholder and they have lately bought some shares, so that gives some confidence," said a trader.

"It's also not expensive, so it should be able to weather the current pessimism in the market." CIMB Research said in a report it expects a 7 percent year-on-year and quarter-on-quarter revenue growth to $176 million for Amtek's fourth quarter ended June.

The house also noted that Amtek's major shareholder, Standard Chartered, had bought a total of 9 million Amtek shares in June, raising its stake to 29.9 percent from 28.3 percent.

The company's automotive components as well as electronics and electrical segments are likely to drive growth, led by greater outsourcing by key customers and project wins, CIMB said.

It added that Amtek traded at less than 4 times price-earnings ratio for 2012 calendar year and offers 10.7 percent projected yields.

Source: Reuters
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Re: Amtek Engineering

Postby winston » Fri Aug 26, 2011 8:30 am

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AMTEK ENGINEERING - Precision engineering firm Amtek Engineering said its fourth quarter net profit jumped more than 16 times to $9.6 million, from $595,000 a year ago, helped by a foreign exchange gain.

Source: Reuters
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Re: Amtek Engineering

Postby winston » Tue Feb 14, 2012 11:47 am

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Precision engineering firm Amtek Engineering said its net profit for October-December tumbled 39 percent to $8 million from a year ago, due to lower sales of its mass storage products as a result of supply chain disruptions caused by floods in Thailand.

Source: Reuters
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