Thursday, July 12, 2007
Disposed Oculus shares
Rewarding shareholders with special dividend. SMB United has disposed
22,545,600 Oculus shares in the open market at an average share price of
$0.37. The sale proceed from the divestment is S$8.4m. Part of the investment
gain of $6.4m would be booked in the 1H07 results and the balance in 2H07.
The entire profits of S$6.4m will be distributed to shareholders in the form of a
special dividend, estimated at 1.3 cents/share.
Riding on recovery in the construction industry. SMB United’s order book
for switchgear is very strong and is growing due to the booming construction and
property industries. It is well positioned to select projects which offer better
margins due to industry-wide capacity shortage. SMB United is setting up a
second switchgear plant in Singapore, which is adjacent to its existing factory.
The second plant would double the total production floor space available in
Singapore to 120,000
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