ASM Pacific 522

[winston]

vested

DJ MARKET TALK: Mirae Tips Record 2Q Earnings For ASM Pacific

0817 [Dow Jones] STOCK CALL: Mirae Asset expects ASM Pacific (0522.HK) to once again deliver record-high earnings during upcoming 2Q results announcement July 29.

Forecasts 2Q net profit to jump 2.6X on-year to HK$584 million on strong topline growth, margin expansion. Expects strong momentum will extend to 3Q with even more backlog orders exiting 2Q; while expects company to experience seasonal slowdown in 4Q10, 1Q11, its diversified customer base, secular LED growth driver are helping it to outperform industry.

"The stock has priced in a near-collapse in business, which we believe is improbable," house says; keeps Buy call, HK$100 target. Stock ended down 0.2% at HK$61.25 yesterday.

Source: Dow Jones Newswire

[winston]

Vested

DJ MARKET TALK: ASM Pacific +0.9%; 2Q Earnings Likely A Record

1111 [Dow Jones] ASM Pacific (0522.HK) last +0.9% at HK$64.95, adding to 5.3% rally in past 3 sessions, as investors warming up to 1H10 results due later today, with record earnings expected.

Mirae Asset forecasts 2Q earnings to grow 2.6X on year, over 20% on quarter to HK$584 million on strong topline growth, margin expansion.

Separately, Morgan Stanley says ASM Pacific's P/E at low end of historical range, provides over 5% dividend yield, very defensive business model, likely due to "what we see as misinformation by the Street."

Keeps Overweight call, HK$75 target. Stock may hover around HK$65 before results out; volume modest at HK$28.0 million.

Source: Dow Jones Newswire

[winston]

*DJ ASM Pacific Tech Target Raised To HK$69 From HK$65 By HSBC

Vested.

Source: Dow Jones Newswire

[winston]

Vested.

Results are published and here's the link:-
http://www.hkexnews.hk/listedco/listcon ... 729005.pdf

Dividends of HK$1.60 ( Aug 17 Deadline )

There's also a very big acquisition which I'm trying to understand. ( I hate all these legal English. Why cant they write things in Simple English ? )

http://www.hkexnews.hk/listedco/listcon ... 729013.pdf

[winston]

Vested. Pre-open HK$68 up 4.9%

DJ MARKET TALK: Record 2Q Results Set To Propel ASM Pacific

0902 [Dow Jones] ASM Pacific's (0522.HK) 2Q results set numerous records, including: record quarterly net profit of HK$682 million (+327% on year, EPS HK$1.73), on record revenue of US$307 million (+145% on year), record new order bookings of US$524 million.

1H net profit of HK$1.15 billion represents 62.5% of full-year earnings forecast now pegged by Thomson Reuters, suggesting upward earnings forecast revisions likely.
Company retains worlds' no. 1 position in assembly, packaging equipment industry; financial position sound with zero debt, cash on hand of HK$1.42 billion, enabling company to dole out interim dividend of HK$1.60/share.

Stock ends +0.6% at HK$64.80 yesterday; intraday peak, also month-to-date high of HK$65.70, set to be breached today.

Source: Dow Jones Newswire

[winston]

DJ Siemens Selling Assembly Systems Business To ASM Pacific Technology

MUNICH (Dow Jones)--Siemens AG (SI, SIE.XE) said Thursday it is selling its assembly systems business to ASM Pacific Technology Ltd. (0522.HK), a unit of Dutch semiconductor equipment maker ASM International NV (ASM.AE, ASMI).

Under the terms of deal, Siemens will pay EUR29 million to ASM Pacific Technology. In exchange, ASM Pacific Technology will support the loss-making business with guarantees, revolving credit lines and loans totaling EUR160 million, according to a filing to the Hong Kong Stock Exchange.

Siemens put its assembly systems business for sale in 2008 and has so far eliminated 900 jobs.

Currently, Siemens Electronics Assembly Systems, or SEAS, has 1,200 employees, among them 630 in Munich, where the German industrial conglomerate is headquartered.

ASM Pacific Technology will integrate SEAS as a separate unit and has also made extensive pledges regarding business locations and workforce, Siemens said in a statement.

Munich remains the central location for production, testing and research at SEAS.

Over the long term ASM International intends to concentrate all of its European research activities in Munich, Siemens also said.

In Siemens' fiscal year 2009, which ended Sept. 30, SEAS posted an after-tax loss of EUR151.7 million on sales of EUR190.7 million.

Still, a Siemens spokesman added, the unit's performance has improved recently. SEAS' net loss shrank to EUR4 million in the quarter ended June 30 and totaled EUR25 million in the nine months to the end of June.

Source: Archibald Preuschat and Matthias Karpstein, Dow Jones Newswires

[eauyong]

2010/07/29 12:17
ASM Pacific (00522) 1H up sharply to HK$1.15b; div HK$1.6

<ET Net News Agency, 29 July 2010> ASM Pacific Technology (00522) said its interim net
profit rocketed by 14.33 times to HK$1.148 billion for the 6-month ended 30 June 2010.
Its basic and diluted earning per share was HK$2.91.
The revenue was HK$4.167 billion, soared by 195.7%; with a gross profit climbed 3.2
times to HK$1.92 billion.
The interim dividend will be HK$1.6 (2009: HK60 cents) per share, payable on 27 August
2010. (PL)

[winston]

Not vested anymore

Record income spurs chip firm to take Siemens unit
Friday, July 30, 2010

ASM Pacific (0522) yesterday announced a record first-half net profit and said it is buying Siemens' electronics assembly system subsidiary.

The semiconductor equipment maker's shares soared 10.4 percent to HK$71.55 following the announcement. ASM said it agreed to buy the money-losing Siemens Electronics Assembly Systems for a symbolic 1 euro (HK$10.15), pledging to turn the business in the near future.

Chief executive Lee Wai-kwong said under the deal, Siemens will pay 29 million euros to ASM.

In exchange, ASM will pay back revolving loans worth 40 million euros and offer up to 120 million euros worth of support over six years.

The Siemens unit posted an after-tax loss of 151.7 million euros for the year ended September 30, but the deficit has since narrowed, Lee said. ASM said it is confident that SEAS will improve significantly within two years. "We plan to replace SEAS's European suppliers with Asian suppliers to cut costs," Lee said.

ASM posted a record net profit of HK$1.48 billion for the six months to June 30 - 14 times more than a year ago - on the back of robust market demand and accumulated orders during the second quarter.

It recommended an interim dividend of HK$1.60 per share. The firm's orders stood at US$582 million (HK$4.54 billion) as of June 30, versus US$365 million at the end of first quarter. It had HK$1.42 billion in cash as of June 30. SOPHIE HE


http://www.thestandard.com.hk/news_deta ... 00730&fc=8

[winston]

Not vested.

DJ MARKET TALK: DB Ups ASM Pacific Target To HK$59 But Still Sell
August 5, 2010

1104 [Dow Jones] STOCK CALL: Deutsche Bank lifts ASM Pacific (0522.HK) target price to HK$59 from HK$47 on higher earnings forecasts on back of record-breaking 2Q results, but keeps Sell call, as remains concerned about company's semiconductor back-end equipment outlook from 4Q10 and into 2011 in light of market share loss to competitor in copper equipment, customers' capex to slow from 2H10 led by front-end loaded spending plan, double-booking owing to tight capacity.

In addition, believes potential merger of SMT operation from Siemens could negatively impact profitability in 2011 due to transition period for turnaround.


Source: Dow Jones Newswire

[winston]

Not vested

DJ MARKET TALK: DBS Ups ASM Pacific Target To HK$91.20; Keeps Buy
Aug 2, 2010


0853 [Dow Jones] STOCK CALL: DBS Vickers raises ASM Pacific (0522.HK) target price to HK$91.20 from HK$85.00 on higher earnings estimates, after company's 2Q10 results show it exceeded pre-financial crisis peak on nearly all fronts, riding on strong demand for assembly, packaging equipment in both semi, LED markets; keeps Buy call.

Says record-high backlog (US$582 million) on strong new order bookings shall provide adequate support for business in 2H10; aside from organic growth, believes SEAS (Electronics Assembly Systems Business spun off by Siemens) acquisition could broaden ASMP's product offerings, with potential for revenue, cost synergy.


Source: Dow Jones Newswire