Meiban

Meiban

Postby winston » Mon May 12, 2008 10:04 am

DBS Research has downgraded Meiban to Hold from Buy;
TP: S$ 0.38 (Prev S$ 0.68).

1Q08 net profit of S$3.5 (+15% y-o-y, - 50% q-o-q) was below our expectations of S$4.5m.

Turnover was S$122m (- 4%y-o-y, -16% q-o-q) against our S$140m forecast due to slower orders from its key customers Dyson and HP.

A slowdown in consumer spending in the US and other parts of the world could slow orders further.

We think 2Q08F revenue growth could range from slightly negative to flat y-o-y due to lower revenue base in 2Q07, but the real challenge would be in 2H08 due to a higher revenue base in 2H07.
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Re: Meiban

Postby winston » Wed Jun 25, 2008 2:07 pm

Not vested. From CIMB:-

Meiban Group - Cheap but lacks near-term catalysts

Our recent meeting with management suggests continuous weakness in its business with Dyson and HP. Meiban’s outlook has also been clouded by a slowerthan-expected ramp for new CM customers, a weak US$ and rising costs.

As such, we have cut our FY08 EPS forecast by 37%, and lowered our FY09-10 forecasts by
17% on lower sales assumptions. In addition, we switch to P/BV from P/E to value Meiban in view of near-term uncertainties and potential risks to earnings.

Our new target price is S$0.335 (formerly S$0.69), based on 0.7x CY09 P/BV, the low end of
its historical P/BV average. Downgrade from Outperform to Neutral given the lack of catalysts. Nevertheless, we believe the share price could be supported by a low P/BV and decent yields of 6.8%.
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Re: Meiban

Postby iam802 » Thu Jun 26, 2008 8:16 pm

Meiban took a deep dive yesterday.

Image

And the key reason is here:

==
As part of the proposed settlement, Parametric had originally requested from the Company and the Meiban Entities, inter alia, damages in the sum of US$20,000,000 in relation to the alleged infringing software found pursuant to the search, but parties have not managed to reach agreement on any settlement amount to date.
==

http://info.sgx.com/webcorannc.nsf/ef3b ... enDocument


------

Edit: Added chart to spice up post
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Re: Meiban

Postby market-uncle » Thu Aug 07, 2008 10:04 pm

Anybody following their software infringement case?

From latest 2Q results, meiban made a special "provision for claim and expenses" of about $688,000. According to an update on software infringement claim released on the same day, parametric technology is seeking a claim of USD 20m. Meiban is still in dispute with the firm and intends to "vigorously defend' the claim.

This brings me to wonder how much the vigorous defense will cost and whether the provision of about 700k enough?

Meiban's annual working capital requirements is about 30.8m SGD or about 22.3m USD. If it ends up losing the case, the original 20m + legal fees will wipe out the entire cash balance (about 30m SGD or 21.7m USD) and send it into debt to raise its required working capital to continue its business.

I'm not vested yet, thinking whether to go in. After reading that they will be vigorously defending the claim... I have 2nd thoughts.

Any comments on the case?
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Re: Meiban

Postby millionairemind » Thu Nov 05, 2009 6:15 pm

November 5, 2009, 5.33 pm (Singapore time)

Meiban's Q3 net profit down 39%

By OH BOON PING

Meiban Group has reported a 39 per cent plunge in net profit to $4.3 million for the third quarter ended Sept 30, 2009.

Turnover for the quarter dropped 8 per cent to $115.6 million. Earnings per share were down at 1.3 cents, from 2.1 cents a year earlier.

For the first nine months of this year, it reported a net profit of $10.76 million - a 24 per cent drop year-on-year, while sales fell 18 per cent to $293 million.
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Re: Meiban

Postby behappyalways » Mon Oct 04, 2010 2:18 pm

血要热 头脑要冷 骨头要硬
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Re: Meiban

Postby winston » Thu Jan 19, 2012 10:58 am

not vested

Shares of S'pore's Meiban Group surge on possible takeover

SINGAPORE, Jan 19 (Reuters) - Shares of Singapore plastic parts maker Meiban Group Ltd jumped 23.2 percent on Thursday, after the company said it may be the subject of a takeover bid by an unnamed party.

At 0101 GMT, Meiban shares were up 19.6 percent at S$0.335, outperforming the broader Straits Times Index <.FTSTI> which was 0.6 percent higher.

"The company wishes to advise shareholders that the approach is preliminary and no firm intention to make an offer has been made by the party nor has any agreement been reached," Meiban said in a filing to the Singapore Exchange late on Wednesday.

Source: Reuters
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Re: Meiban

Postby iam802 » Thu Jan 19, 2012 10:59 am

I believe it is a reaction to Apple releasing their list of suppliers.

Consolidation of suppliers is speculated.
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2. The trend will END but I don't know WHEN.

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Re: Meiban

Postby winston » Thu Mar 15, 2012 2:40 pm

not vested

Meiban CEO to take firm private, offers S$0.40/share

SINGAPORE, March 15 (Reuters) - Meiban Group Ltd , a Singapore-listed maker of plastic injection moulded components, said Chairman and CEO George Goh Tiong Yong plans to buy out the firm by buying shares he does not control for S$0.40 each.

The takeover offer via a firm called Zhong Yong Holdings values Meiban at S$128.4 million, based on the firm's issued and paid up capital of 321.02 million shares, the company said in a statement on Thursday.

Meiban last traded at S$0.395 on March 13 before the stock was suspended. The company said in January it may be the subject of a takeover bid by an unnamed party.

Source: Reuters
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