Lion Asiapac Limited: A Wright Investors' Service Research Report

Company FundamentalsCompany Fundamentals\Company Profile
A Wright Investors' Service Research Report:
Lion Asiapac Limited

COMPANY PROFILE
440 Wheelers Farms Road Milford, CT 06461 U.S.A.
Figures in Singapore Dollars

Wright Quality Rating:LANN Lion Asiapac Limited is an investment holding company. The principal activities of its subsidiaries consist of investment holding, as well as the design-in and distribution of semiconductors and related components, limestone processing and scrap metal trading. The Company operates in four business divisions: Limestone processing, Scrap metal trading, Electronic component distribution and Investment holding/others. Its limestone processing business is operated by its subsidiary, Compact Energy Sdn Bhd. Its scrap metal trading business is operated by LAP Trading and Marketing Pte Ltd. The electronics division was operated by AE Technol Pte Ltd. On May 25, 2010, the Company acquired a 10.3% interest in Mindax Limited (Mindax). On August 31, 2010, its subsidiary AE Technol Pte Ltd, had ceased its operations. Its other subsidiaries include Bright Steel Pte Ltd, Ternair Jaya Sdn. Bhd, Arbon Investment Pte Ltd, Aarau Investment Pte Ltd and Grenchen Investment Pte Ltd. Stock Chart Officers Non Executive Chairman Wok Othman Secretary Silvester Bernard Grant Secretary Yen Hui Tan Key Data Ticker: L08 2010 Sales: 43,772,000 Major Industry: Electronics Sub Industry: Diversified Electronics Country: Singapore Currency: Singapore Dollars Fiscal Year Ends: June Employees 3,799 Exchanges: SIN Share Type: Ordinary Stock Price (11/12/2010): 0.26 Recent stock performance 1 Week -1.9% 4 Weeks -5.5% 13 Weeks 8.3% 52 Weeks -18.8% Earnings / Dividends (as of 9/30/2010) Earnings 0.00 0.11 Ratio Analysis Dividends 0.10 0.11 Market Capitalization: 105,435,980 Total Shares Outstanding: 405,523,000 Closely Held Shares: 270,830,404
Most Recent Qtr Last 12 Months
Price / Earnings Ratio 2.36 Dividend Yield Price / Sales Ratio Price / Book Ratio 2.41 Payout Ratio 0.92 % Held by Insiders Address Phone +65 6745 9677 Home Page http://www.lionapac.com
42.31% 100.00% 66.79%
10 Arumugam Road 409957 SINGAPORE
Copyright 2000-2010 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not guaranteed.
Company Fundamentals\Comparative Business Analysis
A Wright Investors' Service Research Report:

Provided By CorporateInformation.com
440 Wheelers Farms Road Milford, CT 06461 U.S.A.
Wright Comparative Business Analysis Report

Report Date: 11/12/2010 Company Description Lion Asiapac Limited is an investment holding company. The principal activities of its subsidiaries consist of investment holding, as well as the design-in and distribution of semiconductors and related components, limestone processing and scrap metal trading. The Company operates in four business divisions: Limestone processing, Scrap metal trading, Electronic component distribution and Investment holding/others. Its limestone processing business is operated by its subsidiary, Compact Energy Sdn Bhd. Its scrap metal trading business is operated by LAP Trading and Marketing Pte Ltd. The electronics division was operated by AE Technol Pte Ltd. On May 25, 2010, the Company acquired a 10.3% interest in Mindax Limited (Mindax). On August 31, 2010, its subsidiary AE Technol Pte Ltd, had ceased its operations. Its other subsidiaries include Bright Steel Pte Ltd, Ternair Jaya Sdn. Bhd, Arbon Investment Pte Ltd, Aarau Investment Pte Ltd and Grenchen Investment Pte Ltd. Competitor Analysis Lion Asiapac Limited operates within the Semiconductors and related devices sector. This analysis compares Lion Asiapac Limited with three other companies: Multi-Chem Ltd (2009 sales of 154.62 million Singapore Dollars [US$119.96 million] of which 82% was IT Distribution), Ultro Technologies Limited (2010 sales: 2.62 million Singapore Dollars [US$2.03 million] of which 96% was Natural Resources), and Europtronic Group Limited (2009 sales of 66.45 million Singapore Dollars [US$51.55 million] of which 68% was Distribution). Note: not all of these companies have the same fiscal year: the most recent data for each company are being used. Sales Analysis During the year ended June of 2010, sales at Lion Asiapac Limited were 43.77 million Singapore Dollars (US$33.96 million). This is a sharp decrease of 29.4% versus 2009, when the company's sales were 61.99 million Singapore Dollars. Contributing to the drop in overall sales was the 91.4% decline in Electronic Component Distribution, from 35.52 million Singapore Dollars to 3.07 million Singapore Dollars. . However, these declines were partially offset by the increase in sales of Limestone Processing (up 28.9% to 21.00 million Singapore Dollars) and Scrap Metal Trading (up 97.5% to 19.70 million Singapore Dollars) .
Recent Sales at Lion Asiapac Limited 106 94 62 70 62 44
2005 2006 2007 2008 2009 2010 (Figures in Millions of Singapore Dollars)
Sales of Electronic Component Distribution accounted for only 7% of sales in 2010, versus 100% in 2006. The company derives almost all of its revenues in Malaysia: in 2010, this region's sales were 41.14 million Singapore Dollars, which is equivalent to 94.0% of total sales. On a geographical basis, contributing to the decline in the company's sales in 2010 were the declines in Indonesia, where sales dropped 99.6% to 23,000.00 Singapore Dollars. Sales in Singapore were also lower, falling 87.6% (to 927,000.00 Singapore Dollars) . However, not all regions experienced a decline in sales. Sales in Malaysia increased 34.3% (to 41.14 million Singapore Dollars). The company currently employs 3,799. With sales of 43.77 million Singapore Dollars (US$33.96 million) , this equates
to sales of US$8,939 per employee. This company's employees do not appear to be very efficient in generating sales. The sales per employee levels at the three comparable companies vary greatly, from US$7,311 to US$211,564, as shown in the following table. Some of the variation may be due to the way each of these companies counts employees (and if they count subcontractors, independent contractors, etc). Sales Comparisons (Most Recent Fiscal Year) Company Lion Asiapac Limited Multi-Chem Ltd Europtronic Group Limited Year Ended Jun 2010 Sales Sales Sales/ (mlns) Growth Emp (US$) Largest Region 43.772 -29.4% 12.0% -6.0% 2.620 -78.3% 66.450 8,939 Malaysia (94.0%) 211,564 other countries (48.5%) 7,311 Indonesia (57.4%) 42,221 China (87.8%)
Dec 2009 154.623 Dec 2009
Ultro Technologies Limited Jun 2010
Recent Stock Performance For the 52 weeks ending 11/12/2010, the stock of this company was down 18.8% to 0.26 Singapore Dollars. During the past 13 weeks, the stock has increased 8.3%. During the 12 months ending 9/30/2010, earnings per share totalled 0.11 Singapore Dollars per share. Thus, the Price / Earnings ratio is 2.36. These 12 month earnings are lower than the earnings per share achieved during the last fiscal year of the company, which ended in June of 2010, when the company reported earnings of 0.19 per share. Earnings per share rose 2,027.6% in 2010 from 2009. This company is currently trading at 2.41 times sales. The three companies vary greatly in terms of price to sales ratio: trading from 0.35 times all the way up to 7.42 times their annual sales. Lion Asiapac Limited is trading at 0.92 times book value. Since the price to book ratio is less than 1, this means that theoretically, the net value of the assets is greater than the value of a company as a going concern. Summary of company valuations (as of 11/12/2010). Company Lion Asiapac Limited Multi-Chem Ltd Ultro Technologies Limited Europtronic Group Limited P/E 2.4 8.4 N/A N/A Price/ Price/ Book Sales 0.92 0.74 2.00 0.66 0.35 52 Wk Pr Chg -6.25%
2.41 -18.80% 7.42 -16.67% 0.41 -50.00%
The market capitalization of this company is 105.44 million Singapore Dollars (US$81.80 million) . Closely held shares (i.e., those held by officers, directors, pension and benefit plans and those shareholders who own more than 5% of the stock) amount to over 50% of the total shares outstanding: thus, it is impossible for an outsider to acquire a majority of the shares without the consent of management and other insiders. The capitalization of the floating stock (i.e., that which is not closely held) is 35.02 million Singapore Dollars (US$27.17 million) . Dividend Analysis During the 12 months ending 9/30/2010, Lion Asiapac Limited paid dividends totalling 0.11 Singapore Dollars per share. Since the stock is currently trading at 0.26 Singapore Dollars, this implies a dividend yield of 42.3%. None of the three comparable companies paid any dividends during the previous 12 months. Lion Asiapac Limited last raised its dividend during fiscal year 2006, when it raised its dividend to 0.04 Singapore Dollars from 0.01 Singapore Dollars. During the same 12 month period ended 9/30/2010, the Company reported earnings of 0.11 Singapore Dollars per share. This is the exact same amount as the company earned per share in 2010; thus, the company has used all of its profits to pay dividends, and will not use any of its profits to grow the business. Profitability Analysis On the 43.77 million Singapore Dollars in sales reported by the company in 2010, the cost of goods sold totalled 36.51 million Singapore Dollars, or 83.4% of sales (i.e., the gross profit was 16.6% of sales). This gross profit margin is better than the company achieved in 2009, when cost of goods sold totalled 92.1% of sales. In 2010, the gross margin was the highest of the previous five years (and in 2006 was as low as 3.8%). There was a wide variation in the gross profit margins at the three comparable companies, from 7.1% of sales to 21.7% of sales. The company's earnings before interest, taxes, depreciation and amorization (EBITDA) were 950,000.00 Singapore Dollars, or 2.2% of sales. This EBITDA margin is better than the company achieved in 2009, when the EBITDA margin was equal to -3.1% of sales. In 2010, earnings before extraordinary items at Lion Asiapac Limited were 75.06 million Singapore Dollars, or 171.5% of sales. This profit margin is an improvement over the level the company achieved in 2009, when the profit margin was 5.7% of sales. The company's return on equity in 2010 was 39.4%. This was significantly better than the 2.2% return the company achieved in 2009. (Extraordinary
items have been excluded). Profitability Comparison Gross Earns Profit EBITDA bef. Year Margin Margin extra 2010 2009 2009 16.6% 7.9% 21.7% 10.8% 2.2% -3.1% 7.9% -10.4% 171.5% 5.7% -1.5% -32.3%
Company Lion Asiapac Limited Lion Asiapac Limited Multi-Chem Ltd
Ultro Technologies Limited 2010 Europtronic Group Limited 2009
7.1% -245.7% -250.0%
Lion Asiapac Limited reports profits by product line. During 2010, the itemized operating profits at all divisions were 2.28 million Singapore Dollars, which is equal to 5.2% of total sales. Of all the product lines, Limestone Processing had the highest operating profits in 2010, with operating profits equal to 20.7% of sales. In fact, during each of the previous 3 years, Limestone Processing has had the highest operating profits of all product lines at Lion Asiapac Limited. Electronic Component Distribution had the lowest operating profit margin in 2010, with the operating profit showing a loss equivalent to 42.8% of sales. This marks the third year in which Electronic Component Distribution had the lowest operating profit margins. Inventory Analysis As of June 2010, the value of the company's inventory totalled 2.21 million Singapore Dollars. Since the cost of goods sold was 36.51 million Singapore Dollars for the year, the company had 22 days of inventory on hand (another way to look at this is to say that the company turned over its inventory 16.5 times per year). In terms of inventory turnover, this is an improvement over June 2009, when the company's inventory was 4.27 million Singapore Dollars, equivalent to 27 days in inventory. Financial Position As of June 2010, the company's long term debt was 18,000.00 Singapore Dollars and total liabilities (i.e., all monies owed) were 51.95 million Singapore Dollars. The long term debt to equity ratio of the company is very low, at only 0.00. This company has a large cash balance: in 2010, the company had only 43.77 million Singapore Dollars in sales, but its cash and short term investments as of June 2010 were 125.34 million Singapore Dollars, or 2.9 times the annual sales. As of June 2010, the accounts receivable for the company were 13.55 million Singapore Dollars, which is equivalent to 113 days of sales. This is an improvement over the end of 2009, when Lion Asiapac Limited had 138 days of sales in accounts receivable. Financial Positions Company Lion Asiapac Limited Multi-Chem Ltd LT Debt/ Days Days Year Equity AR Inv. 2010 2009 0.00 0.00 0.00 0.25 113 90 712 169 22 38 N/A 114
Ultro Technologies Limited 2010 Europtronic Group Limited 2009 Industry Overview
Copyright 2001-2010 The Winthrop Corporation Distributed by Wright Investors' Service, Inc. All Rights Reserved Important Legal Notice
THIS REPORT IS PROVIDED FOR GENERAL INFORMATION ONLY, IS NOT TO BE CONSIDERED AS INVESTMENT ADVICE AND SHOULD NOT BE RELIED UPON FOR INVESTMENT DECISIONS. NO REPRESENTATION OR WARRANTY IS MADE REGARDING THE ACCURACY, RELIABILITY OR TIMELINESS OF THE CONTENT. THE REPORTS ARE COMPUTER GENERATED AND MAY BE SUBJECT TO PROGRAMMATIC AND/OR CONTENT ERRORS. VISITORS SHOULD VERIFY INFORMATION WITH OTHER RELIABLE SOURCES.
THIS REPORT IS PROVIDED AS IS, WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. IN NO EVENT WILL THE WINTHROP CORPORATION, WRIGHT INVESTORS' SERVICE, INC. OR ANY OF THEIR DATA PROVIDERS BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES, NO MATTER WHAT THE CAUSE. THE CONTENT OF THIS REPORT IS PROTECTED BY APPLICABLE COPYRIGHT LAWS. CONTENT MAY NOT BE REPRODUCED, DISTRIBUTED, MODIFIED OR FRAMED WITHOUT PRIOR WRITTEN PERMISSION.
Company Fundamentals\Summary Analysis
SUMMARY ANALYSIS:
Per Share- Singapore Dollars

Price

Equity Capital % Profit Rate (ROE) -0.9% -1.9% 9.3% 11.6% 4.6% 16.4% 2.0% 2.2% 39.4% n/a Book Value Begin Yr 0.39 0.38 0.32 0.35 0.39 0.33 0.55 0.39 0.47 0.28
AD
Year
Value Ratios
Earnings 12 Month Earnings Per Share

ABD
Dividends 12 Month Dividends Per Share 0.00 0.00 0.01 0.01 0.04 0.01 0.01 0.01 0.00 0.11
Fiscal Yr Ends: June 2002 2003 2004 2005 2006 2007 2008 2009 2010 11/12/2010
Market Price/ Price/ % Price Earnings Book Dividend Earned Last Ratio Ratio Yield Growth 0.15 0.15 0.12 0.16 0.18 0.31 0.23 0.19 0.26 0.26 n/c n/c 4.0 3.8 9.8 5.8 20.5 21.3 1.4 2.3 0.4 0.4 0.4 0.4 0.4 1.0 0.4 0.5 0.6 0.9 0.0% 0.0% 4.2% 3.6% 22.9% 3.2% 4.3% 5.4% 0.0% 42.3% -0.9% -1.9% 7.8% 10.0% -5.6% 13.4% 0.2% -0.3% 39.4% n/a
% Change n/c n/c n/c 33.3%
% Payout Ratio n/c n/c 16.5% 13.9%
0.00
-0.01 0.03 0.04 0.02 0.05 0.01 0.01
AD BD ABD ABD BD AD D
-55.7% 223.5% 199.4% -79.1% 18.7% 89.3%
-22.3% 114.9% 0.0%
0.19 2,027.6% 0.11
n/c 100.0%
(A): INCLUDES OR EXCLUDES EXTRAORDINARY CHARGE OR CREDIT - INCLS 0.01 PRETAX CR AND NOM PRETAX CHG IN FIS 2009, INCLS 0.04 PRETAX CR IN FIS 2007, INCLS 0.05 PRETAX CR AND 0.03 PRETAX CHG IN FIS 2006, INCLS 0.01 PRETAX CHG IN FIS 2004, INCLS 0.01 PRETAX CHG IN 2003, INCLS 0.01 PRETAX CR IN FIS 2002, INCLS 0.001 PRETAX CHG IN FIS 2001, EXCLS 0.104 CHG IN FIS 2000 (B): INCLUDES THE EFFECTS OF A CHANGE IN ACCOUNTING POLICIES OR TAX LAWS - - ADOPTED AMENDMENTS TO FRS 1 PRESENTATION OF FINANCIAL STATEMENTS - CAPITAL DISCLOSURES, FRS 107 FINANCIAL INSTRUMENTS: DISCLOSURES, INT FRS 110 INTERIM FINANCIAL REPORTING AND IMPAIRMENT, EARNINGS IMPACT IMMATERIAL, ADOPTED FRS 19 (AMENDMENT) FOR EMPLOYEE BENEFITS, FRS 21 (AMENDMENT) FOR THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES, FRS 32 (AMENDMENT) FOR FINANCIAL INSTRUMENTS: DISCLOSURES & PRESENTATION, FRS 39 (AMENDMENT) FOR FINANCIAL INSTRUMENTS: RECOGNITION & MEASUREMENT AND INT FRS 104 FOR DETERMINING WHETHER AN ARRANGEMENT CONTAINS A LEASE, EARNINGS IMPACT IMMATERIAL, - ADOPTED FRS 1 (REVISED2004); FRS 2 (REVISED2004); FRS 8 (REVISED2004); FRS 10 (REVISED2004); FRS 16 (REVISED2004); FRS 17 (REVISED2004); FRS 21 (REVISED2004); FRS 24 (REVISED2004); FRS 27 (REVISED2004); FRS 28 (REVISED2004); FRS 31 (REVISED 2004); FRS 32 (REVISED2004); FRS 33 (REVISED 2004); FRS 39 (REVISED2004), FRS 102 AND FRS 105 IN FIS 2006, EARNINGS IMPACT IMMATERIAL, ADOPTED FRS 103 FOR BUSINESS COMBINATIONS, EARNINGS IMPACT NOT SPECIFIED, - ADOPTED SAS 10 (REVISED 2000) FOR EVENTS AFTER THE BALANCE SHEET DATE, SAS 12 (REVISED 2001) FOR INCOME TAXES, SAS 17 (REVISED 2000) FOR EMPLOYEE BENEFITS, SAS 31 FOR PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS, SAS 32 FOR FINANCIAL INSTRUMENTSDISCLOSURE AND PRESENTATION, SAS 35 FOR DISCONTINUING OPERATIONS AND SAS 36 FOR IMPAIRMENT OF ASSETS, EARNINGS IMPACT NOT SPECIFIED. (C): INCLS DISCONTINUED OPS (D): BASED ON AVERAGE SHARES OUTSTANDING, FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED JUN 2007 WERE 0.0535, FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED JUN 2001 WERE 0.032, FULLY DULITED EARNINGS FOR THE 12 MOS ENDED JUN 2000 WERE 0.001
Company Fundamentals\Sales Analysis
SALES ANALYSIS:
Figures in thousands of Singapore Dollars

Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) Amount in thousands 1,498 469 591 3,771 -551 4,969 25,415 7,392 4,597
Sales Amount in thousands
Cost of Goods Sold
After Tax Income before Extraordinary Charges and Credits Amount in thousands 7,867 -870 -2,400 12,291 16,377 7,235 21,715 4,523 3,519
Employees Sales Per Number Employee 286 309,563 After Tax Income Per Employee 27,507 -11,299 -34,783 178,130 240,838 1,904 n/a n/a n/a n/a
Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Year-toAmount year in Growth thousands
% of Sales
% of Sales 1.7% 0.5% 0.5% 5.0% -0.9% 7.1% 27.2% 7.0% 7.4%
% of Sales 8.9% -1.0% -2.2% 16.4% 26.3% 10.3% 23.2% 4.3% 5.7%
88,535 184.7% 85,484 108,213 -3.4% 26.6%
92,900 104.9% 84,451 103,166 70,565 59,880 67,278 82,721 95,160 57,118 36,510 98.8% 95.3% 94.1% 96.2% 96.2% 88.4% 90.0% 92.1% 83.4%
77 1,110,182 69 1,568,304 69 1,087,217 68 3,799 n/a n/a n/a n/a 915,574 18,408 n/a n/a n/a n/a
75,018 -30.7% 62,259 -17.0% 69,933 93,563 105,732 12.3% 33.8% 13.0%
61,987 -41.4% 43,772 -29.4%
89,526 204.5%
75,063 171.5%
Company Fundamentals\Price Analysis
PRICE ANALYSIS:
Per Share- Singapore Dollars

High Price 0.220 0.180 0.185 0.125 0.125 0.160 0.205 0.215 0.180 0.165 0.180 0.205 0.190 0.180 0.190 0.220 0.230 0.210 0.175 0.175 0.195 0.340 0.315 0.310 0.340 0.270 0.230 0.170 0.150 0.205 0.340 Low Price 0.170 0.140 0.115 0.095 0.090 0.090 0.150 0.140 0.135 0.120 0.110 0.170 0.160 0.145 0.150 0.160 0.160 0.150 0.150 0.155 0.160 0.165 0.185 0.235 0.195 0.220 0.140 0.100 0.095 0.115 0.165 Closing Price 0.180 0.145 0.120 0.100 0.110 0.150 0.175 0.165 0.155 0.120 0.180 0.175 0.160 0.155 0.180 0.170 0.175 0.175 0.160 0.165 0.165 0.310 0.265 0.260 0.260 0.230 0.160 0.130 0.110 0.185 0.300 Quarterly %Change n/a -19.4% -17.2% -16.7% 10.0% 36.4% 16.7% -5.7% -6.1% -22.6% 50.0% -2.8% -8.6% -3.1% 16.1% -5.6% 2.9% 0.0% -8.6% 3.1% 0.0% 87.9% -14.5% -1.9% 0.0% -11.5% -30.4% -18.8% -15.4% 68.2% 62.2% 12 months %Change n/a n/a n/a n/a -38.9% 3.4% 45.8% 65.0% 40.9% -20.0% 2.9% 6.1% 3.2% 29.2% 0.0% -2.9% 9.4% 12.9% -11.1% -2.9% -5.7% 77.1% 65.6% 57.6% 57.6% -25.8% -39.6% -50.0% -57.7% -19.6% 87.5%
Quarter 2002 Jan - Mar Apr - Jun Jul - Sep Oct - Dec 2003 Jan - Mar Apr - Jun Jul - Sep Oct - Dec 2004 Jan - Mar Apr - Jun Jul - Sep Oct - Dec 2005 Jan - Mar Apr - Jun Jul - Sep Oct - Dec 2006 Jan - Mar Apr - Jun Jul - Sep Oct - Dec 2007 Jan - Mar Apr - Jun Jul - Sep Oct - Dec 2008 Jan - Mar Apr - Jun Jul - Sep Oct - Dec 2009 Jan - Mar Apr - Jun Jul - Sep
Oct - Dec 2010 Jan - Mar Apr - Jun Jul - Sep 11/12/2010
0.375 0.475 0.470 0.355
0.275 0.305 0.230 0.230
0.365 0.465 0.260 0.265 0.260
21.7% 27.4% -44.1% 1.9% 8.3%
180.8% 322.7% 40.5% -11.7% -18.8%
Company Fundamentals\Earnings & Dividends Analysis
EARNINGS AND DIVIDENDS ANALYSIS:

Per Share- Singapore Dollars Fiscal Year Ends in June
Earnings Per Share 12 Months Fiscal Years Earnings 1999 2000 2001
C
Dividends Per Share 12 Months % Dividends Change 0.00 0.00 0.00 0.00 0.00 0.01 0.01 n/c 100.0% n/c n/c n/c n/c 12.0% Quarterly Reported Dividends Q1 Sep. n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 0.00 n/a Q2 Dec. n/a n/a n/a n/a n/a n/a n/a 0.04 0.00 0.00 0.00 0.00 n/a Q3 Mar. n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 0.10 n/a Q4 Jun. % Payout
Quarterly Reported Earnings Q1 Sep. n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 0.00 0.07 0.00 Q2 Dec. 0.01 0.01 0.02 0.00 0.01 0.01 0.01 0.02 0.02 0.01 0.01 0.10 n/a Q3 Mar. n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 0.00 0.00 n/a Q4 Jun. n/a -0.01 0.01 -0.01 -0.01 0.02 0.03 -0.00 0.04 0.00 -0.01 0.01 n/a
% Change -50.8% -85.9%
0.01 AD 0.00
0.00 62.7% 0.00 0.00 0.00 0.00 0.01 0.01 0.00 0.01 0.01 n/a n/a n/c 0.0% 0.0% 0.0% 0.0% 9.9% n/c 0.0% n/c 86.4% n/c
AD 0.03 2,550.0% ABD 0.00 AD -0.01 AD 0.03 BD 0.04 ABD 0.02 ABD 0.05 BD 0.01 AD 0.01 n/a n/c n/c n/c 33.3% -55.7% 199.4% -79.1% -22.3% n/c
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 (A):
0.04 614.3% 0.01 -75.0% 0.01 0.01 n/a n/a 0.0% 0.0% n/c n/c
0.01 89.7%
D 0.19 2,027.6%
INCLUDES OR EXCLUDES EXTRAORDINARY CHARGE OR CREDIT - INCLS 0.01 PRETAX CR AND NOM PRETAX CHG IN FIS 2009, INCLS 0.04 PRETAX CR IN FIS 2007, INCLS 0.05 PRETAX CR AND 0.03 PRETAX CHG IN FIS 2006, INCLS 0.01 PRETAX CHG IN FIS 2004, INCLS 0.01 PRETAX CHG IN 2003, INCLS 0.01 PRETAX CR IN FIS 2002, INCLS 0.001 PRETAX CHG IN FIS 2001, EXCLS 0.104 CHG IN FIS 2000
(B):
INCLUDES THE EFFECTS OF A CHANGE IN ACCOUNTING POLICIES OR TAX LAWS - - ADOPTED AMENDMENTS TO FRS 1 PRESENTATION OF FINANCIAL STATEMENTS - CAPITAL DISCLOSURES, FRS 107 FINANCIAL INSTRUMENTS: DISCLOSURES, INT FRS 110 INTERIM FINANCIAL REPORTING AND IMPAIRMENT, EARNINGS IMPACT IMMATERIAL, - ADOPTED FRS 19 (AMENDMENT) FOR EMPLOYEE BENEFITS, FRS 21 (AMENDMENT) FOR THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES, FRS 32 (AMENDMENT) FOR FINANCIAL INSTRUMENTS: DISCLOSURES & PRESENTATION, FRS 39 (AMENDMENT) FOR FINANCIAL INSTRUMENTS: RECOGNITION & MEASUREMENT AND INT FRS 104 FOR DETERMINING WHETHER AN ARRANGEMENT CONTAINS A LEASE, EARNINGS IMPACT IMMATERIAL, - ADOPTED FRS 1 (REVISED2004); FRS 2 (REVISED2004); FRS 8 (REVISED2004); FRS 10 (REVISED2004); FRS 16 (REVISED2004); FRS 17 (REVISED2004); FRS 21 (REVISED2004); FRS 24 (REVISED2004); FRS 27 (REVISED2004); FRS 28 (REVISED2004); FRS 31 (REVISED 2004); FRS 32 (REVISED2004); FRS 33 (REVISED 2004); FRS 39 (REVISED2004), FRS 102 AND FRS 105 IN FIS 2006, EARNINGS IMPACT IMMATERIAL, ADOPTED FRS 103 FOR BUSINESS COMBINATIONS, EARNINGS IMPACT NOT SPECIFIED, - ADOPTED SAS 10 (REVISED 2000) FOR EVENTS AFTER THE BALANCE SHEET DATE, SAS 12 (REVISED 2001) FOR INCOME TAXES, SAS 17 (REVISED 2000) FOR EMPLOYEE BENEFITS, SAS 31 FOR PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS, SAS 32 FOR FINANCIAL INSTRUMENTSDISCLOSURE AND PRESENTATION, SAS 35 FOR DISCONTINUING OPERATIONS AND SAS 36 FOR IMPAIRMENT OF ASSETS, EARNINGS IMPACT NOT SPECIFIED.
(C):
INCLS DISCONTINUED OPS
(D):
BASED ON AVERAGE SHARES OUTSTANDING, FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED JUN 2007 WERE 0.0535, FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED JUN 2001 WERE 0.032, FULLY DULITED EARNINGS FOR THE 12 MOS ENDED JUN 2000 WERE 0.001
Financial Statement AnalysesFinancial Statement Analyses\Balance Sheet - Common Size
Balance Sheet - (Common Size): Lion
Asiapac Limited
2009 2008 2007 2006
Figures are expressed as Percent of Total Assets. Total Assets are in millions of Singapore Dollars.
Fiscal Year Fiscal Year End Date Assets Total Assets Cash & Short Term Investments Cash Short Term Investments Receivables (Net) Inventories -Total Raw Materials Work in Process Finished Goods Progress Payments & Other Prepaid Expenses Other Current Assets Current Assets - Total Long Term Receivables Investment in Associated Companies Other Investments Property Plant and Equipment Gross Accumulated Depreciation Property Plant and Equipment Net Other Assets Deferred Charges Tangible Other Assets
2010
6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006
168.4 74.4% 3.7% 70.7% 8.0% 1.3% 1.1% 0.0% 0.2% 0.0% 0.1% 0.0% 83.9% 0.0% 0.0% 4.4% 14.8% 3.1% 11.7% 0.0% 0.0% 0.0%
211.7 31.1% 2.1% 29.0% 11.1% 2.0% 1.1% 0.0% 0.9% 0.0% 0.0% 46.5% 90.8% 0.0% 0.0% 0.0% 11.0% 1.8% 9.2% 0.0% 0.0% 0.0%
196.1 26.2% 1.8% 24.5% 15.8% 5.0% 1.7% 0.0% 3.3% 0.0% 0.1% 11.1% 58.3% 0.0% 0.0% 33.1% 10.1% 1.5% 8.6% 0.0% 0.0% 0.0%
268.1 23.5% 5.0% 18.5% 7.4% 3.5% 0.5%
200.1 31.3% 31.1% 0.2% 9.7% 3.3% 0.0% 0.0%
3.0%
3.3% 0.0%
0.0% 2.7% 37.1%
0.0% 15.8% 60.1% 1.9%
55.9% 7.5% 0.5% 7.0% 0.0% 0.0% 0.0%
37.0% 1.4% 0.5% 0.9% 0.0% 0.0% 0.0%
Intangible Other Assets Total Assets Liabilities & Shareholders' Equity Total Liabilities & Shareholders' Equity Accounts Payable Short Term Debt & Current Portion of Long Term Debt Accrued Payroll Income Taxes Payable Dividends Payable Other Current Liabilities Current Liabilities - Total Long Term Debt Long Term Debt Excluding Capitalized Leases Capitalized Lease Obligations Provision for Risks and Charges Deferred Income Deferred Taxes Deferred Taxes - Credit Deferred Taxes - Debit Deferred Tax Liability in Untaxed Reserves Other Liabilities Total Liabilities Non-Equity Reserves Minority Interest Preferred Stock Preferred Stock Issued for ESOP
0.0% 100.0%
0.0% 100.0%
0.0% 100.0%
0.0% 100.0%
0.0% 100.0%
168.4 3.0% 0.0%
211.7 1.7% 0.0%
196.1 5.2% 0.8%
268.1 3.3% 0.3%
200.1 6.2% 7.8%
1.5% 24.1% 0.8% 29.4% 0.0% 0.0% 0.0%
1.3%
1.6%
1.2% 0.2%
1.9% 0.4% 13.5% 29.8% 0.0% 0.0% 0.0%
1.0% 4.0% 0.0% 0.0% 0.0%
6.3% 13.9% 0.0% 0.0% 0.0%
5.5% 10.5% 0.0% 0.0% 0.0%
0.0% 1.4% 1.4%
0.0% 5.0% 5.0% 0.0%
0.0% 2.3% 2.4% 0.0%
0.0% 4.0% 4.0%
0.0% 1.9% 1.9% 0.0%
0.0% 30.9% 0.0% 1.0% 0.0%
0.0% 9.0% 0.0% 1.1% 0.0%
0.0% 16.2% 0.0% 2.4% 0.0%
0.0% 14.6% 0.0% 1.7% 0.0%
0.0% 31.7% 0.0% 2.3% 0.0%
ESOP Guarantees - Preferred Issued Common Equity Total Liabilities & Shareholders' Equity 68.1% 100.0% 89.9% 100.0% 81.4% 100.0% 83.7% 100.0% 66.1% 100.0%
Financial Statement Analyses\Balance Sheet - Year-Year % Change
Balance Sheet - (Year to Year Percent Change): Lion

Figures are the Percent Changes from the Prior Year.
Asiapac Limited
2008 2007 2006
2010
2009
6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006
-20.5% 90.3% 38.2% 94.1% -42.1% -48.2% -19.4%
7.9% 28.0% 31.0% 27.8% -24.6% -56.7% -30.7%
-26.8% -18.3% -74.3%
34.0% 0.4% -78.4%
-10.2% -30.7% 43.5% -99.0% 10.3% 8.3%
-3.1% 10,930.1% 57.2% 5.7% 139.0% 2.2% 42.9%
-82.4%
-70.0%
-17.8%
21.5%
8.3%
5.2% -99.9% -26.5%
-3.0% 350.6% 68.1%
-24.8% 202.3% 15.0%
600.0%
-13.6%
-77.2% 2,511.0% -17.4% 4.3% -51.2%
-100.0% 6.6% 33.6% 1.2% 18.0% 33.7% 15.3%
-56.8% -1.8% 97.1% -9.6%
102.3% 624.1% 57.2% 909.3%
373.4% 102.0% 23.9% 195.9%
Intangible Other Assets Total Assets Liabilities & Shareholders' Equity Total Liabilities & Shareholders' Equity Accounts Payable Short Term Debt & Current Portion of Long Term Debt Accrued Payroll Income Taxes Payable Dividends Payable Other Current Liabilities Current Liabilities - Total Long Term Debt Long Term Debt Excluding Capitalized Leases Capitalized Lease Obligations Provision for Risks and Charges Deferred Income Deferred Taxes Deferred Taxes - Credit Deferred Taxes - Debit Deferred Tax Liability in Untaxed Reserves Other Liabilities Total Liabilities Non-Equity Reserves Minority Interest Preferred Stock Preferred Stock Issued for ESOP -24.1% -51.4% 4.9% -1.4% 1.2% 172.9% -40.2% -18.7% -38.2% 6.8% -77.6% -77.6% 130.4% 127.8% -100.0% -57.6% -57.1% 187.7% 185.2% -64.7% -40.7% -32.8% -36.1% 485.5% -64.7% -82.3% -68.9% -40.7% -15.7% -3.9% -32.8% -2.5% -12.5% -5.7% -14.1% -21.9% -45.2% -52.6% 220.0% 208.4% -100.0% -100.0% 262.2% -20.5% 39.7% 5.9% 7.9% -65.0% -97.7% -26.8% 13.8% 106.6% 34.0% -28.2% -10.2% 45.4% -20.5% 7.9% -26.8% 34.0% -10.2%
-95.4% 1,125.0%
ESOP Guarantees - Preferred Issued Common Equity Total Liabilities & Shareholders' Equity -39.8% -20.5% 19.3% 7.9% -28.9% -26.8% 69.8% 34.0% -16.9% -10.2%
Financial Statement Analyses\Balance Sheet - Five-Year Averages
Balance Sheet - (5 Year Averages): Lion

Figures in millions of Singapore Dollars.
Asiapac Limited
2009 2008 2007 2006
2010
6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006
208.9 73.7 18.0 55.7 21.4 6.4 1.8
219.8 66.7 25.4 41.3 22.2 7.2 1.4
221.1 61.6 32.6 29.0 23.9 7.5
229.3 55.6 36.2 19.4 21.8 6.9
212.3 44.8 35.3 9.5 21.6 6.0
4.7
5.8
6.6
6.6
6.2 0.0
0.1 31.9 133.5
0.1 32.1 128.3
0.1 12.7 105.8
0.0 9.2 93.4
0.0 7.8 80.2 7.3
59.3 18.2 2.9 15.4 0.0 0.0 0.0
60.9 13.5 2.0 11.5 0.0 0.0 0.0
64.3 9.1 1.4 7.7 0.0 0.0 0.0
54.6 6.1 1.4 4.6 0.0 0.0 0.0
24.6 5.2 2.8 2.4 0.0 0.0 0.0
Intangible Other Assets Total Assets Liabilities & Shareholders' Equity Total Liabilities & Shareholders' Equity Accounts Payable Short Term Debt & Current Portion of Long Term Debt Accrued Payroll Income Taxes Payable Dividends Payable Other Current Liabilities Current Liabilities - Total Long Term Debt Long Term Debt Excluding Capitalized Leases Capitalized Lease Obligations Provision for Risks and Charges Deferred Income Deferred Taxes Deferred Taxes - Credit Deferred Taxes - Debit Deferred Tax Liability in Untaxed Reserves Other Liabilities Total Liabilities Non-Equity Reserves Minority Interest Preferred Stock Preferred Stock Issued for ESOP
0.0 208.9
0.0 219.8
0.0 221.1
0.0 229.3
0.0 212.3
208.9 8.0 3.6
219.8 8.8 3.8
221.1 10.0 5.5
229.3 9.8 16.9
212.3 10.6 28.0
3.1
2.8
2.4
2.1
1.6
11.5 34.6 0.1 0.0 0.1
13.0 28.6 8.0 8.0 0.1
13.5 31.6 18.0 18.0 0.0
12.0 40.9 20.8 20.8 0.0
9.6 49.9 20.8 20.8 0.0
0.0 6.4 6.4
0.0 5.9
0.0 3.8 2.9 0.7
0.0 41.1 0.0 3.6 0.0
0.0 42.5 0.0 4.1 0.0
0.0 53.4 0.0 4.4 0.0
2.8 67.4 0.0 4.2 0.0
5.5 77.0 0.0 3.7 0.0
ESOP Guarantees - Preferred Issued Common Equity Total Liabilities & Shareholders' Equity 164.3 208.9 173.1 219.8 163.3 221.1 157.7 229.3 131.6 212.3
Financial Statement Analyses\Income Statement - Common Size
Income Statement - (Common Size): Lion
Asiapac Limited
2010 43.8 83.4% 3.1% 13.4% 2.1% 12.3% 11.0% 4.3% 5.7% 14.1% 2009 62.0 2008 105.7 2007 93.6 2006 69.9 96.2% 0.3% 3.5%
Figures are expressed as Percent of Net Sales or Revenues. Net Sales or Revenues are in millions of Singapore Dollars.
Fiscal Year Net Sales or Revenues Cost of Goods Sold Depreciation, Depletion & Amortization Gross Income Selling, General & Administrative Expenses Other Operating Expenses Operating Expenses - Total Operating Income Extraordinary Credit - Pretax Extraordinary Charge - Pretax Non-Operating Interest Income Reserves - Increase/Decrease Pretax Equity in Earnings Other Income/Expense - Net Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) Earnings before Interest & Taxes(EBIT) Interest Expense on Debt Interest Capitalized Pretax Income Income Taxes Minority Interest Equity in Earnings After Tax Other Income/Expense Discontinued Operations Net Income before Extraordinary Items/Preferred Dividends
92.1% 90.0% 88.4% 3.8% 4.0% 1.5% 0.6%
8.5% 11.0%
101.0% 106.9% 95.8% 94.7% 110.6% -1.0% 0.0% 0.0% 2.9% 0.0% 0.0% 199.4% 204.5% 201.4% 0.0% 0.0% 201.3% 31.1% -1.3% 0.0% 0.0% 0.0% 171.5% 5.7% 4.3% 23.2% -6.9% 0.0% 0.0% 3.0% 0.0% 0.0% 7.6% 7.4% 3.6% 0.1% 0.0% 3.5% 1.8% -3.9% 0.0% 0.0% 4.2% 0.0% 0.0% 1.2% 0.0% 0.0% 5.3% -10.6% 7.6% 0.0% 2.3% 0.0% 0.0% 15.6% 7.1% 6.8% 0.4% 0.0% 6.4% 4.4% 1.1% 9.7% 0.0% -0.2% 10.3% 0.0% 0.0% 1.8% 0.0%
0.0% 11.4% 7.0% 27.2% 5.4% 26.6% 0.0% 0.0% 0.1% 0.0%
5.4% 26.5% 0.9% 0.2% 0.0% 0.0% 2.7% 0.6% 0.0% 0.0%
Extraordinary Items & Gain/Loss Sale of Assets Preferred Dividend Requirements
0.0% 0.0%
0.0% 0.0% 5.7%
0.0% 0.0%
0.0% 0.0%
0.0% 0.0% 10.3%
Net Income after Preferred Dividends - available to 171.5% Common
4.3% 23.2%
Financial Statement Analyses\Income Statement - Year-Year % Change
Income Statement - (Year to Year Percent Change): Lion

Figures are the Percent Changes from the Prior Year.
Asiapac Limited
2008 13.0% 15.0% 2007 33.8% 23.0% 2006 12.3% 12.4% 4.7% 12.3%
Fiscal Year Net Sales or Revenues Cost of Goods Sold Depreciation, Depletion & Amortization Gross Income Selling, General & Administrative Expenses Other Operating Expenses Operating Expenses - Total Operating Income Extraordinary Credit - Pretax Extraordinary Charge - Pretax Non-Operating Interest Income Reserves - Increase/Decrease Pretax Equity in Earnings Other Income/Expense - Net Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) Earnings before Interest & Taxes(EBIT) Interest Expense on Debt Interest Capitalized Pretax Income Income Taxes Minority Interest Equity in Earnings After Tax Other Income/Expense
2010 -29.4% -36.1% -41.6% 134.5%
2009 -41.4% -40.0%
44.3% 197.3% 146.6% -71.9% -13.2% 323.2%
-21.0% -33.3%
51.0% -34.6% -197.2%
-15.8% 14.3% -10.3% 100.0%
-45.7% 14.5%
146.5% 20.7%
-30.5%
44.8%
-41.2%
69.8%
247.6%
1,761.6% 8,917.3% 1,847.5% 3,840.5% -71.4% -37.8% -61.1% 19.5%
-99.5%
-2.0% 1,441.0%
-70.9% 411.5% -76.8% 423.9% -39.7% -73.3% -82.0%
3,928.1% 1,149.9%
-61.7% 12.7% 1,171.2%
-76.9% 452.1% -62.1% -57.4% -17.1% -33.2% 100.0% 376.0% 3.8% -66.1%
Discontinued Operations Net Income before Extraordinary Items/Preferred Dividends Extraordinary Items & Gain/Loss Sale of Assets Preferred Dividend Requirements Net Income after Preferred Dividends available to Common 2,033.1% -22.2% -79.2% 200.1% -55.8% 2,033.1% -22.2% -79.2% 200.1% -55.8%
Financial Statement Analyses\Income Statement - Five-Year Averages
Income Statement - (5 Year Averages): Lion

Figures in millions of Singapore Dollars.
Asiapac Limited
2010 2009 2008 2007 2006 75.0 78.7 81.3 81.8 80.2 67.8 72.4 75.1 76.7 77.1 1.2 6.0 1.0 5.3 0.6 5.6 0.3 4.8 0.2 2.9
Fiscal Year Net Sales or Revenues Cost of Goods Sold Depreciation, Depletion & Amortization Gross Income Selling, General & Administrative Expenses Other Operating Expenses Operating Expenses - Total Operating Income Extraordinary Credit - Pretax Extraordinary Charge - Pretax Non-Operating Interest Income Reserves - Increase/Decrease Pretax Equity in Earnings Other Income/Expense - Net Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) Earnings before Interest & Taxes(EBIT) Interest Expense on Debt Interest Capitalized Pretax Income Income Taxes Minority Interest Equity in Earnings After Tax Other Income/Expense Discontinued Operations Net Income before Extraordinary Items/Preferred Dividends Extraordinary Items & Gain/Loss Sale of Assets
6.4
6.1
5.7
5.5
5.8
75.6 79.5 81.3 82.5 83.1 -0.6 1.4 0.0 1.6 0.0 -0.8 1.4 0.0 1.4 0.0 -0.0 1.4 -0.5 1.1 0.0 -0.7 1.4 -0.1 0.8 0.0 -2.9 0.6 -0.1 0.4 0.0
22.7 26.4 25.2 0.1 0.0 25.1 4.3 -0.3 1.4 0.0
5.4 8.4 7.4 0.4 0.0 7.0 1.7 -0.0 5.3 0.0
4.7 8.2 7.6 0.7 0.0 6.9 1.6 0.7 7.9 0.0
4.9 6.8 6.5 1.2 0.0 5.4 1.6 1.0 8.3 0.0
3.4 1.8 1.6 1.8 0.0 -0.2 1.2 1.1 9.1 0.0 -0.0
22.4 10.7 12.4 11.0 0.0 0.0 0.0 0.0
6.5 0.0
Preferred Dividend Requirements Net Income after Preferred Dividends - available to Common
0.0
0.0
0.0
0.0
0.0 6.5
22.4 10.7 12.4 11.0
Financial Statement Analyses\Sources of Capital - Net Change
Sources of Capital: Lion
Asiapac Limited
2010 2009 2008 2007 2006
Currency figures are in millions of Singapore Dollars. Year to year % changes pertain to reported Balance Sheet values.
Fiscal Year Fiscal Year End Date Total Capital Percent of Total Capital Short Term Debt Long Term Debt Other Liabilities Total Liabilities Minority Interest Preferred Stock Retained Earnings Common Equity Total Capital Year to Year Net Changes Short Term Debt Long Term Debt Other Liabilities Total Liabilities Minority Interest Preferred Stock Retained Earnings Common Equity Total Capital Year to Year Percent Changes Short Term Debt Long Term Debt Other Liabilities
6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006 116.4 192.7 164.4 229.1 136.8
0.0% 0.0% 0.0% 44.6% 1.5% 0.0% 46.8% 98.5% 100.0%
0.0% 0.0% 0.0% 9.9% 1.2% 0.0% 41.2% 98.8% 100.0%
0.9% 0.1% 0.0% 19.4% 2.9% 0.0% 39.3% 97.1% 100.0%
0.3% 0.1% 0.0% 17.1% 2.0% 0.0% 28.0% 98.0% 100.0%
11.5% 0.0% 0.0% 46.3% 3.3% 0.0% 33.9% 96.7% 100.0%
0.0 -0.0 0.0 3.3 -0.1 0.0 -2.5 -7.6 -7.6
-0.1 -0.0 0.0 -1.3 -0.2 0.0 1.5 3.1 2.8
0.1 -0.0 0.0 -0.7 0.0 0.0 0.0 -6.5 -6.5
-1.5 0.0 0.0 -2.4 -0.0 0.0 1.8 9.2 9.2
1.4 -4.0 0.0 0.4 0.0 0.0 -1.3 -2.7 -6.7
5.9% -64.7%
-97.7% -40.7%
106.6% -32.8%
-95.4% 1,125.0% -100.0%
Total Liabilities Minority Interest Preferred Stock Retained Earnings Common Equity Total Capital Total Liabilities & Common Equity Total Liabilities Net Change in Liabilities as % of Total Liabilities Common Equity Net Change in Common Equity as % of Common Equity Cash Flow Operating Activities Financing Activities Investing Activities
172.9% -24.1%
-40.2% -51.4%
-18.7% 4.9%
-38.2% -1.4%
6.8% 1.2%
-31.3% -39.8% -39.6%
22.9% 19.3% 17.2%
0.7% -28.9% -28.2%
38.1% 69.8% 67.5%
-21.7% -16.9% -32.8%
52.0 63.4% 114.7 -66.0%
19.0 -67.2% 190.4 16.2%
31.8 -23.0% 159.6 -40.7%
39.2 -61.7% 224.5 41.1%
63.4 6.4% 132.2 -20.3%
1.0 -65.0 -124.2
7.2 -5.4 -11.0
-8.4 -3.9 -1.3
12.5 -15.1 -3.0
-3.7 -47.6 -71.8
Financial Ratio AnalysesFinancial Ratio Analyses\Accounting Ratios
Accounting Ratios: Lion Fiscal Year Fiscal Year End Date Receivables Turnover
Asiapac Limited
2010 2009 2008 2007 2006 6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006 3.2 154.2 11.3 32.4 1.8 2.2 2.6 160.4 8.1 45.1 2.7 3.2 3.4 87.7 9.9 36.8 5.3 6.2 4.7 76.2 10.4 35.0 4.6 5.0 3.6 96.1 10.7 34.1 25.1 37.7
Receivables - Number of Days Inventory Turnover Inventory - Number of Days Gross Property, Plant & Equipment Turnover Net Property, Plant & Equipment Turnover Depreciation, Depletion & Amortization % of Gross Property, Plant & Equipment Depreciation, Depletion & Amortization Year to Year Change Depreciation, Depletion & Amortization Year to Year % Change
5.5%
10.1%
8.3%
2.7%
8.0%
-0.1
0.1
0.1
0.0
0.0
-41.6%
44.3%
197.3%
146.6%
4.7%
Financial Ratio Analyses\Asset Utilization
Asset Utilization: Lion
Asiapac Limited
2010 2009 2008 2007 2006
Figures are expressed as the ratio of Net Sales. Net Sales are in millions of Singapore Dollars.
Fiscal Year Fiscal Year End Date Net Sales Cash & Cash Equivalents Short-Term Investments Accounts Receivable Inventories Other Current Assets Total Current Assets Total Long Term Receivables & Investments Long Term Receivables Investments in Associated Companies Other Investments Property, Plant & Equipment Gross Accumulated Depreciation Property Plant & Equipment - Net Other Assets Total Assets
6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006 43.8 286.4% 272.1% 31.0% 5.0% 0.2% 322.7% 16.8% 0.0% 0.0% 16.8% 56.9% 11.8% 45.1% 0.0% 384.7% 62.0 106.3% 99.0% 37.8% 6.9% 159.0% 310.1% 0.0% 0.0% 0.0% 0.0% 37.7% 6.2% 31.5% 0.0% 341.5% 105.7 48.7% 45.4% 29.4% 9.3% 20.7% 108.1% 61.3% 0.0% 0.0% 61.3% 18.7% 2.7% 16.0% 0.0% 185.5% 160.3% 21.6% 1.6% 20.0% 0.0% 286.6% 106.0% 4.0% 1.3% 2.7% 0.0% 286.2% 93.6 67.3% 52.9% 21.1% 10.0% 7.7% 106.3% 160.3% 69.9 89.7% 0.6% 27.6% 9.3% 45.3% 172.0% 111.5% 5.5%
Financial Ratio Analyses\Employee Efficiency
Employee Efficiency: Lion Fiscal Year Fiscal Year End Date Employees Values per Employee Sales Net Income Cash Earnings Working Capital Total Debt Total Capital Total Assets
Asiapac Limited
2006 6/30/2006 3,799 2005 6/30/2005 68 2004 6/30/2004 69
Values per Employee are in Singapore Dollars.
18,408 1,904 -1,382 15,974 4,124 36,004 52,680
915,574 240,838 61,721 1,411,265 606,574 2,992,809 3,277,059
1,087,217 178,130 480,652 812,942 841,319 2,820,449 3,163,188
Year to Year % Change per Employee Employees Sales Net Income Cash Earnings Working Capital Total Debt Total Capital Total Assets 5,486.8% -98.0% -99.2% -102.2% -98.9% -99.3% -98.8% -98.4% -1.4% -15.8% 35.2% -87.2% 73.6% -27.9% 6.1% 3.6%
Financial Ratio Analyses\Fixed Charges Coverage
Fixed Charges Coverage: Lion Fiscal Year Fiscal Year End Date EBIT/Total Interest Expense EBIT/Net Interest EBIT/(Total Interest Exp + Pfd Div)
Asiapac Limited
2010 2009 2008 2007 2006 6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006 6,296.3 45.7 140.4 365.7 18.6
6,296.3 1.4 1.4 6,394.7
45.7 0.6 0.6 93.8
140.4 1.4 1.4 180.3
365.7
18.6 0.2 0.2
EBIT/Dividends on Common Shares EBIT/(Dividends on Common + Pfd) EBITDA/Total Interest Expense EBITDA/Net Interest EBITDA/(Total Interest Exp + Pfd Div) EBITDA/Dividends on Com Shares EBITDA/(Dividends on Com + Pfd)
373.8
19.5
6,394.7 1.4 1.4
93.8 1.1 1.1
180.3 1.8 1.8
373.8
19.5 0.2 0.2
Financial Ratio Analyses\Leverage Analysis
Leverage Analysis: Lion Fiscal Year Fiscal Year End Date Long Term Debt % of EBIT
Asiapac Limited
2010 2009 2008 2007 2006 6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006 0.0% 0.0% 0.0% 0.0% 0.0% 0.1% 0.1% 0.0% 0.0% 0.0% 0.0% 2.0% 1.9% 1.0% 1.5% 1.5% 0.0% 0.0% 0.0% 0.0% 0.0% 68.1% 98.5% 69.2% 1.8% 2.3% 1.1% 0.0% 0.0% 0.0% 3.8% 1.8% 0.0% 0.0% 0.0% 0.0% 102.4% 49.8% 1.1% 1.2% 1.2% 0.0% 0.0% 0.0% 0.0% 0.0% 89.9% 98.8% 91.0% 7.0% 1.5% 1.2% 0.0% 0.1% 0.1% 27.4% 21.3% 0.8% 1.0% 1.0% 1.0% 81.8% 63.7% 2.4% 2.9% 3.0% 0.0% 0.0% 0.0% 0.0% 0.0% 81.4% 97.1% 83.8% 0.9% 0.5% 0.5% 0.0% 0.1% 0.1% 3.4% 3.3% 0.3% 0.4% 0.4% 0.4% 18.1% 17.7% 1.7% 2.0% 2.0% 0.0% 0.0% 0.0% 0.0% 0.0% 83.7% 98.0% 85.4% 18.4% 0.0% 0.0% 0.0% 0.0% 0.0% 330.1% 315.3% 7.8% 11.5% 10.3% 11.8% 96.0% 91.7% 2.3% 3.3% 3.4% 0.0% 0.0% 0.0% 0.0% 0.0% 66.1% 96.7% 68.3% 2.1%
Long Term Debt % of EBITDA Long Term Debt % of Total Assets Long Term Debt % of Total Capital Long Term Debt % of Com Equity Total Debt % of EBIT Total Debt % of EBITDA Total Debt % of Total Assets Total Debt % of Total Capital Total Debt % of Total Capital & Short Term Debt Total Debt % of Common Equity Minority Interest % of EBIT Minority Interest % of EBITDA Minority Interest % of Total Assets Minority Interest % of Total Capital Minority Interest % of Com Equity Preferred Stock % of EBIT Preferred Stock % of EDITDA Preferred Stock % of Total Assets Preferred Stock % of Total Capital Preferred Stock % of Total Equity Common Equity % of Total Assets Common Equity % of Total Capital Total Capital % of Total Assets Capital Expenditure % of Sales
Fixed Assets % of Common Equity Working Capital % of Total Capital Dividend Payout
17.2% 78.7% 86.4%
10.2% 95.3%
10.6% 53.0% 89.7%
8.3% 31.1% 0.0%
1.4% 44.4%
Funds From Operations % of Total 2,220.0% Debt 20,000.0%
571.9% 1,646.6%
-33.5%
Financial Ratio Analyses\Liquidity Analysis
Liquidity Analysis: Lion Fiscal Year Fiscal Year End Date
Asiapac Limited
2010 2009 2008 2007 2006 6/30/2010 6/30/2009 6/30/2008 322.7% 4.4% 88.7% 2.8 9.6% 154.2 1.6% 32.4 20,417.7 8.0% 2.8 0.0% -21.8% 310.1% 2.4% 34.3% 10.5 12.2% 160.4 2.2% 45.1 5,554.6 11.1% 22.7 0.0% 22.3% 108.1% 3.0% 45.0% 3.0 27.2% 87.7 8.6% 36.8 1,878.8 15.8% 4.2 1.0% 33.2% 6/30/2007 6/30/2006 106.3% 13.5% 63.3% 2.9 19.9% 76.2 9.4% 35.0 2,428.7 7.4% 3.5 0.4% 49.5% 172.0% 51.8% 52.1% 1.4 16.1% 96.1 5.4% 34.1 3,456.4 9.7% 2.0 10.3% -8.8%
Total Current Assets % Net Sales Cash % of Current Assets Cash & Equivalents % of Current Assets Quick Ratio Receivables % of Current Assets Receivable Turnover - number of days Inventories % of Current Assets Inventory Turnover - number of days Inventory to Cash & Equivalents number of days Receivables % of Total Assets Current Ratio Total Debt % of Total Capital Funds from Operations % of Current Liabilities Funds from Operations % of Long Term Debt Funds from Operations % of Total Debt Funds from Operations % of Total Capital Cash Flow (in milllions of Singapore Dollars) Operating Activities Financing Activities Investing Activities
3,700.0% 10,493.0% 10,934.4% 60,000.0% 2,220.0% 20,000.0% -9.3% 1.0% 571.9% 5.5% 1,646.6% 6.1% -33.5% -3.8%
1.0 -65.0 -124.2
7.2 -5.4 -11.0
-8.4 -3.9 -1.3
12.5 -15.1 -3.0
-3.7 -47.6 -71.8
Financial Ratio Analyses\Per-Share Ratios
Per Share Data: Lion
Asiapac Limited
2010 2009 2008 2007 2006
Figures are expressed as per unit of respective shares. Figures are in Singapore Dollars.
Fiscal Year Fiscal Year End Date Sales Operating Income Pre-tax Income Net Income (Continuing Operations) Net Income Before Extra Items Extraordinary Items Net Income After Extraordinary Items Net Income Available to Common Shares Fully Diluted Earnings Common Dividends Cash Earnings Book Value Retained Earnings Assets
6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006 0.11 -0.00 0.22 0.18 0.19 0.00 0.19 0.19 0.19 0.15 -0.01 0.01 0.00 0.01 0.00 0.01 0.01 0.01 0.01 -0.03 0.28 0.13 0.42 0.00 0.47 0.20 0.52 0.26 0.01 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.02 0.39 0.16 0.48 0.23 0.01 0.06 0.05 0.05 0.00 0.05 0.05 0.05 0.01 0.03 0.55 0.16 0.66 0.17 -0.02 0.01 0.02 0.02 0.00 0.02 0.02 0.02 0.04 -0.01 0.33 0.11 0.49
Financial Ratio Analyses\Profitability Growth
Profitability Analysis: Lion Fiscal Year Fiscal Year End Date Gross Income Margin Operating Income Margin Pretax Income Margin EBIT Margin Net Income Margin Return on Equity - Total Return on Invested Capital Return on Assets Asset Turnover Financial Leverage Interest Expense on Debt Effective Tax Rate Cash Flow % Sales
Asiapac Limited
2010 2009 2008 2007 2006
Currency figures are in Singapore Dollars.
6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006 13.4% -1.0% 201.3% 201.4% 171.5% 49.2% 48.6% 39.5% 0.3 0.0% 14,000 15.5% -24.7% 2.1% 4.0% -6.9% 3.5% 3.6% 5.7% 2.0% 2.0% 1.7% 0.3 0.0% 49,000 49.8% 3.0% 8.5% 4.2% 5.4% 5.4% 4.3% 2.4% 2.3% 2.0% 0.5 1.0% 41,000 16.9% 8.5% 11.0% 5.3% 26.5% 26.6% 23.2% 12.2% 11.4% 9.3% 0.3 0.4% 68,000 10.3% 15.0% 3.5% -10.6% 6.4% 6.8% 10.3% 5.0% 4.1% 3.5% 0.3 11.8% 255,000 68.6% -7.5%
Selling, General & Administrative Expenses % of Sales Research & Development Expense Operating Income Return On Total Capital
-39.6%
17.2%
-28.2%
67.5%
-32.8%
Wright Quality Rating AnalysesWright Quality Rating Analyses\Investment Acceptance
Wright Quality Rating - Investment Acceptance: Lion

Currency figures are in millions of U.S. Dollars.
Wright Quality Rating
Asiapac Limited
LANN LANN
72 86 24 29 0 0 0.0% 0.0% SIN 0 4,176 66.8%
Investment Acceptance Rating Total Market Value of Shares Outstanding - Three Year Average - Current Year Public Market Value (Excludes Closely Held) - Three Year Average - Current Year Trading Volume - Three Year Average - Current Year Turnover Rate - Three Year Average - Current Year Stock Exchange Listings Number of Institutional Investors Number of Shareholders Closely Held Shares as % of Total Shares Outstanding
Wright Quality Rating Analyses\Financial Strength
Wright Quality Rating - Financial Strength: Lion Wright Quality Rating Financial Strength Rating Total Shareholders' Equity (Millions of U.S. Dollars) Total Shareholders' Equity as % Total Capital Preferred Stock as % of Total Capital Long Term Debt as % of Total Capital Long Term Debt (Millions of Singapore Dollars) Lease Obligations (Millions of Singapore Dollars)
Asiapac Limited
L L
ANN ANN
82
98.5% 0.0% 0.0% 0 0 0 0.0% 6,296.3 -69.2 2.8 2.8
Long Term Debt including Leases (Millions of Singapore Dollars) Total Debt as % of Total Capital Fixed Charge Coverage Ratio: Pretax Income to Interest Expense & Preferred Dividends Fixed Charge Coverage Ratio: Pretax Income to Net Interest Income & Preferred Dividends Quick Ratio (Cash & Receivables / Current Liabilities) Current Ratio (Current Assets / Current Liabilities)
Wright Quality Rating Analyses\Profitability & Stability
Wright Quality Rating - Profitability & Stability: Lion Wright Quality Rating Profitability & Stability Rating
Asiapac Limited
LA LA
NN NN
3.6% 0.4%
Profit Rate of Earnings on Equity Capital - Time-Weighted Normal - Basic Trend Cash Earnings Return on Equity - Time-Weighted Average - Basic Trend Cash Earnings Return on Equity - Stability Index Return On Assets (Time-Weighted Average) Pre-Tax Income as % of Total Assets (Time-Weighted Average) Operating Income as % of Total Assets (Time-Weighted Average) Operating Income as % of Total Capital (Adjusted Rate) Pre-Tax Income as % of Total Assets (Time-Weighted Average) Operating Income as % of Total Assets (Time-Weighted Average) Operating Income as % of Total Capital (Adjusted Rate)
13.7%
-1.1% 7.0% 11.3% 13.9% -0.4% -0.3% 13.9% -0.4% -0.3%
Wright Quality Rating Analyses\Corporate Growth
Wright Quality Rating - Corporate Growth: Lion

Figures are expressed on a Per Share Basis.
Asiapac Limited
LAN LAN
Wright Quality Rating Growth Rating Normal Earnings Growth Cash Earnings Growth Cash Earnings Stability Index Earned Equity Growth Dividend Growth Operating Income Growth Assets Growth Sales/Revenues Growth
N N
8.5% -25.0% 5.9% 9.0% 25.0% 0.0% -4.2% -4.1%

Lion Asiapac Limited: A Wright Investors' Service Research Report

Enviado por

Dados do documento

Descrição original:

Título original

Direitos autorais

Formatos disponíveis

Compartilhar este documento

Compartilhar ou incorporar documento

Opções de compartilhamento

Você considera este documento útil?

Este conteúdo é inapropriado?

Direitos autorais:

Formatos disponíveis

Lion Asiapac Limited: A Wright Investors' Service Research Report

Enviado por

Direitos autorais:

Formatos disponíveis

Company FundamentalsCompany Fundamentals\Company Profile

A Wright Investors' Service Research Report:

Lion Asiapac Limited

440 Wheelers Farms Road Milford, CT 06461 U.S.A.

Figures in Singapore Dollars

Most Recent Qtr Last 12 Months

42.31% 100.00% 66.79%

10 Arumugam Road 409957 SINGAPORE

Company Fundamentals\Comparative Business Analysis

A Wright Investors' Service Research Report:

Lion Asiapac Limited

Wright Comparative Business Analysis Report

Dec 2009 154.623 Dec 2009

Ultro Technologies Limited Jun 2010

2.41 -18.80% 7.42 -16.67% 0.41 -50.00%

Company Lion Asiapac Limited Lion Asiapac Limited Multi-Chem Ltd

Ultro Technologies Limited 2010 Europtronic Group Limited 2009

7.1% -245.7% -250.0%

Company Fundamentals\Summary Analysis

Per Share- Singapore Dollars

Lion Asiapac Limited

Earnings 12 Month Earnings Per Share

% Change n/c n/c n/c 33.3%

% Payout Ratio n/c n/c 16.5% 13.9%

-0.01 0.03 0.04 0.02 0.05 0.01 0.01

-55.7% 223.5% 199.4% -79.1% 18.7% 89.3%

-22.3% 114.9% 0.0%

0.19 2,027.6% 0.11

Company Fundamentals\Sales Analysis

Figures in thousands of Singapore Dollars

Lion Asiapac Limited

Sales Amount in thousands

Cost of Goods Sold

Year-toAmount year in Growth thousands

88,535 184.7% 85,484 108,213 -3.4% 26.6%

61,987 -41.4% 43,772 -29.4%

Company Fundamentals\Price Analysis

Per Share- Singapore Dollars

Lion Asiapac Limited

0.375 0.475 0.470 0.355

0.275 0.305 0.230 0.230

0.365 0.465 0.260 0.265 0.260

21.7% 27.4% -44.1% 1.9% 8.3%

180.8% 322.7% 40.5% -11.7% -18.8%

Company Fundamentals\Earnings & Dividends Analysis

EARNINGS AND DIVIDENDS ANALYSIS:

Lion Asiapac Limited

% Change -50.8% -85.9%

INCLS DISCONTINUED OPS

Financial Statement AnalysesFinancial Statement Analyses\Balance Sheet - Common Size

Balance Sheet - (Common Size): Lion

6/30/2010 6/30/2009 6/30/2008 6/30/2007 6/30/2006

268.1 23.5% 5.0% 18.5% 7.4% 3.5% 0.5%

200.1 31.3% 31.1% 0.2% 9.7% 3.3% 0.0% 0.0%

0.0% 2.7% 37.1%

0.0% 15.8% 60.1% 1.9%

55.9% 7.5% 0.5% 7.0% 0.0% 0.0% 0.0%

37.0% 1.4% 0.5% 0.9% 0.0% 0.0% 0.0%

168.4 3.0% 0.0%

211.7 1.7% 0.0%

196.1 5.2% 0.8%

268.1 3.3% 0.3%