Mencast

Mencast: Reported a net profit of $13.3m for FY12, +30.3% yoy. Rev surged 49.2% to $84m, from $56.4m yoy, on the back of higher rev contribution from all its unit as well as higher production capacity from its Penjuru workshop facility. For FY13, the grp is targeting growth in all its business segments, as well as for reve to narrow the gap relative to its fixed asset additions. It is also expecting strong opportunities from Middle East, Batam, Thailand and Vietnam, each of which has rev potential two to three times of SG. At current price, grp trades at 10x P/E.