...Our Vision To create a strong international brand name in the construction and its allied Industry Our Mission Statement To perform for our customers the highest level of quality construction services at fair and market competitive prices. To maintain the highest levels of professionalism, integrity, honesty and fairness in our relationships with our suppliers, subcontractors, professional associates and customers. To ensure the longevity of our company achieved by customer satisfaction in all areas including timeliness, attention to detail and service minded attitudes. 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 HANEDA Group Companies & Affiliates Introduction Company Information Notable Projects Organization chart Principal clients Project Field Experience Manpower Mobilization and Management Projects Details Company Machineries Skill Training School Labors in Agricultural Field Labors in Service Industry Malaysia Haneda Trading & Construction Sdn. Bhd Haneda Cosmo Properties Sdn. Bhd Gunung Bina Sdn. Bhd & Utusan Kejora Sdn. Bhd Jua Yakin Sdn. Bhd. Vietnam Vietnam Manpower and Construction JSC (VietMC) International Manpower Supplying and Construction JSC (NIBELC) New Star Consulting Services Engineering Co, Ltd. Singapore Haneda Services Pte Ltd Haneda Project Services Indonesia P.T. Maru Ichi Jaya India Haneda Infra P Ltd Sunrock Construction & Trading P Ltd Haneda Consultants and Agencies P Ltd Sri Lanka Newstar Constructors P Ltd Laksan Mizutani...
Words: 3687 - Pages: 15
...Sri Lanka | Diversified Holdings Initiation of coverage EQUITY RESEARCH 5 September 2013 CT Holdings PLC (CTHR) Cashing in on consumption growth CT Holdings (CTHR) is the fourth-largest Sri Lankan diversified company by market capitalization. The company holds controlling interests in Cargills (CSE ticker: CARG, CTHR’s 70%-owned food retail company), the country’s largest chain of supermarkets, as well as in several companies in the food processing, restaurant, real estate, entertainment and financial services sectors. We expect CTHR’s revenues from continuing operations to post an 11.1% CAGR over FY14E-FY16E and net margin to expand 40bps to 2.3% by FY16E. Rising disposable income should continue to boost consumer demand and benefit Sri Lanka’s modern food retail market, driving CTHR’s retail and wholesale distribution segment (84% of revenue in FY13) at an 8.8% CAGR over FY14EFY16E. We expect margins to benefit from higher food sales and economies of scale in food processing. However, high finance costs resulting from CTHR’s recent spate of acquisitions may pressure earnings. We arrive at a valuation range of LKR126-153 for CTHR, compared with the current share price of LKR140, as at 4 September 2013. Sri Lanka’s organized food retail penetration grew to 15% in 2012 from 10% in 2004. This growth was supported by rising disposable income (12.6% CAGR over 2010-2012) and a slowly increasing preference for shopping at modern retail outlets. However, penetration remains lower...
Words: 19574 - Pages: 79
...Sri Lanka | Beverage, Food & Tobacco Initiation of coverage EQUITY RESEARCH 19 December 2013 Cargills (Ceylon) PLC (CARG.N0000) A consumption play Cargills (Ceylon) PLC (CARG) is the largest organized food retailer by market capitalization listed on the Colombo Stock Exchange (CSE), and also manufactures a range of fast-moving consumer goods (FMCG) and operates a fast-food chain. The company is majority owned by its parent company CT Holdings PLC (CTHR), itself one of the largest traded conglomerates on the CSE. We expect the typical signs of consumption growth, such as rising GDP and private consumption expenditure, to support CARG’s revenue growth, at an 11.3% CAGR over FY14E-FY16E. We also forecast CARG’s EBIT margin to expand to 4.3% in FY16E from 4.1% in FY13. Margin development across all segments is likely to be tempered by persisting high operating costs, particularly electricity and fuel expenses, as well as currently underwhelming results from the brewery and biscuits businesses. CARG’s debt and gearing levels in the past three years have risen due to a string of acquisitions and investments to expand capacity of several product lines. Our SOTP and P/E analyses yield a valuation range of LKR110-149, compared with the share price of LKR149 as of 18 December 2013. We forecast revenue to post an 11.3% CAGR over FY14E-FY16E as consumption levels are set to improve. CARG’s revenue is likely to be driven by its retail segment, which we forecast to also grow at an 11.2% CAGR...
Words: 13320 - Pages: 54
