Gold Peak's Singapore-listed Member Company, GP Batteries Announces 2000/2001 Final Results: Turnover Up 11.8%, Profit Up 13.2%.Business Editors HONG KONG--(BUSINESS WIRE)--June 12, 2001 Gold Peak Industries (Holdings) Limited, the Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. international industrial group specializing in batteries, electrical and electronic products, announced that GP Batteries International Limited ("GP Batteries"), the Singapore-listed member company of Gold Peak Industries (Holdings) Limited ("Gold Peak") announces today its unaudited consolidated results for the year ended March 31, 2001. Review of the performance of the company and its principal subsidiaries GP Batteries' turnover for the year ended March 31, 2001 was S$594.2 million, an increase of 11.8% over the previous year. The consolidated net profit after taxation and minority interests but before extraordinary items was S$25.0 million, representing an increase of 13.2% compared with 2000. Earnings per share, based on the weighted average of 103,462,331 (2000: 103,461,168) shares in issue during the year amounted to 24.20 Singapore cents, compared with 21.38 Singapore cents for 2000. The diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of , based on the weighted average of 104,022,542 (2000: 103,492,148) after taking into account the dilution adjustment for share options, amounted to 24.07 Singapore cents, compared with 21.38 Singapore cents for 2000. The strong performance in the first half continued into the third quarter of the financial year. In the fourth quarter, sales slackened substantially due to the sudden and sharp slowdown in the U.S. economy. This situation was particularly serious in the personal computer and cell phone industries where excess inventory was critical. The lackluster result in the last quarter affected the overall performance of GP Batteries. Gold Peak Industries (Taiwan) Limited has commenced mass production of Lithium Ion A rechargeable battery technology introduced in 1991 that provides greater charge per pound than nickel metal hydride. In 1993, Toshiba introduced the first notebook in the U.S. with a Li-ion battery. cylindrical batteries. It successfully introduced the 2100mAh Lithium Ion 18650 battery, which has the highest capacity for batteries of the same size. A full scale sales effort to introduce ourselves to PC manufacturers worldwide and to promote our product is being undertaken. As part of our continuous effort to upgrade our factories and modernize our quality systems, we have started to introduce QS9000 in our operations. Two of our factories are now QS9000 certified. More will follow, reflecting the commitment of GP Batteries to continuous improvement. GP Batteries has continued to refine its electric vehicle batteries. It has been steadily working with OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and manufacturers in the US, Europe and China. Its batteries have been installed and tested in several hybrid transport systems and have been demonstrated to increase energy efficiency as well as reduce air pollution. Prospects The consumer electronics market in general is expected to remain soft due to the slowdown n the U.S. economy. On the other hand, sales in Asia and Europe are expected to be steady. GP Batteries will continue to benefit from the steady demand for specialty batteries from private label customers and the consumer market under its "GP" brand. New products will be introduced to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growing demand worldwide for advanced rechargeable batteries A rechargeable battery, also known as a storage battery, is a group of two or more secondary cells. These batteries can be restored to full charge by the application of electrical energy. . It also expects additional new business opportunities for electric vehicle batteries. Barring unforeseen circumstances, the Directors expect the Group to achieve another profitable year. Background information on Gold Peak Gold Peak Group is an Asian multinational group which owns a diversified portfolio of high quality industrial investments via its major industrial investment vehicle, the Singapore-listed GP Industries Limited. Its Technology and Strategic Division is engaged in the development of new product technologies and business-to-business e-commerce. The parent company, Gold Peak Industries (Holdings) Limited [HKSE HKSE Hong Kong Stock Exchange Stock Code: 0040] was established in 1964 and listed in Hong Kong in 1984. In the industrial sector, the Group has established a leadership position in Asia for most of its product categories including GP Batteries & Clipsal electrical installation products. While Gold Peak currently holds a 86.6%(a) interest in GP Industries, GP Industries holds a 45.0%* and 49.9%* interest in GP Batteries International Limited and Clipsal Industries (Holdings) Limited respectively. GP Industries, GP Batteries and Clipsal Industries were listed in Singapore in 1995, 1991 and 1992 respectively. Gold Peak Group has manufacturing, research & development, marketing and distribution operations in more than 10 countries around the world. Background Information on GP Batteries International Limited GP Batteries International Limited ("GP Batteries") is principally engaged in the development, manufacturing and marketing of batteries and battery related products. GP Batteries has been listed on the main board of the Singapore Exchange “SGX” redirects here. For other uses, see SGX (disambiguation). Singapore Exchange Limited SGX: S68 (SGX) is the stock exchange in Singapore. SGX was formed on December 1 1999, following the merger of two established and well-respected financial Securities Trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the Limited since March 1991, and is also a component stock of the Straits Times Index The Straits Times Index (STI) is a market value-weighted stock market index based on the stocks of 50 representative companies listed on the Singapore Exchange. Launched in the wake of a major sectoral re-classification of listed companies by the Singapore Exchange, which , BT Singapore Regional Index and DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. 50 Index. GP Batteries' major production facilities are located in Hong Kong, China, Singapore, Taiwan, Malaysia, Denmark and Poland, supported by marketing and trading offices in Singapore, Hong Kong, Taiwan, China, South Korea, Malaysia, Thailand, Australia, Sweden, Poland, France, Germany, Italy, the United Kingdom, Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . For more information on GP Batteries, please visit http://www.gpbatteries.com.sg Gold Peak's ordinary shares are listed on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. . Ordinary share information on Gold Peak may be accessed on the Reuters Equity 2000 service under the symbol 0040 HK and on Bloomberg under the symbol 40 HK. Gold Peak ADRs, each equal to ten ordinary shares, trade on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol GPINY. For more information, please visit our website at http://www.goldpeak.com (a) As at May 31, 2001. |
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