Oriental Press Group Recommendation: Sell Brokerage: ING Barings ORIENTAL Press Group is engaged in newspaper and magazine publishing, property investment and building management.
Results for this year were below expectations as management locked the company into buying expensive newsprint in the forward market.
Competitor Apple Daily has established itself in the market and there are signs that Oriental Press Group is on the defensive, shown by its decision earlier this year to rekindle a price war.
Onfem Holdings Recommendation: Long-term buy Brokerage: Cheerful Securities ONFEM Holdings is a mainland-backed company engaged in trading, property investment and development, plus industrial investment.
Turnover rose 26 per cent last year, but net profit dropped 30 per cent to $64.15 million mainly due to an exceptional loss from the sale on an investment. In the past two years, Onfem has bought an engineering company, a wall covering company and an engineering firm and these will allow it to benefit from new synergies.
Triplenic Holdings Recommendation: Speculative buy Brokerage: China Everbright Securities TRIPLENIC Holdings is active in property investment and development in Hong Kong and is diversifying into hotel projects in Fujian province.
The company recently posted this year's results with earnings surging 1013 per cent to $128 million, boosted by the disposal of properties, while operating profit rose 114 per cent.
