Singapore share market IPO - China Kunda Technology

OCBC short note :
Summary: China Kunda Technology Holdings Ltd. (China Kunda) is a provider of precision moulds, plastic injection parts, and IMD products. Based in Shenzhen city, Guangdong province, PRC, its plastic engineering solutions include design, R&D of plastic injection and IMD technologies. China Kunda will be publicly listed on SGX-ST on 9 October 2008. At an IPO price of S$0.215, China Kunda will raise about S$11.64m in net proceeds from the issue of the 67.2m new shares. The proceeds will be used to acquire Shenzhen Precision and corresponding investments in plant, machineries and production facilities, enhancement of R&D capabilities, expansion of sales and marketing network, and for general working capital. We do not have a rating on the stock.

comments :
FY07 profit only HK45.1m a rather small size company to float during turbulent times for the singapore stock market.....plus tech related sector is not too sexy at the moment......i will give it a Five Z rating (z = sleepy level)