A-Sonic

A-Sonic: +18% at $0.065, on above avg volume. Rebounds from 3yrs of losses, thanks to improving contributions from its businesses and the sale of one of its distributorships in North Asia early last year. Posted US$11.2m FY10 profit (US$8m from one off disposal gain), while revenue leapt 78% to record US$278.4m, which suggests the logistics operator and aerospace component distributor, is seeing a reversal of fortunes after chalking up impairment losses for the previous 3 years...

First and final div of 0.125cts (vs none last yr), translates to 1.9% div yield.
Mgt upbeat on its prospects. Says its logistics business model (95% of sales) has reshaped to incl int’l and domestic multi-modal transportation, customs clearance, warehousing and distribution, and expects continued strategic invmts to ensure sustained long-term growth...

Co will also expand into the aircraft leasing business; has acquired 3 pre-owned 173-seater MD11 narrow body passenger planes, to be leased to airlines / operators in North and South Asia once they are certified by the relevant authorities.
But to be taken off the SGX watchlist, A-Sonic also has to meet the requirement for their market capitalisation to be > $40m, or 6cts/sh, for 120 days prior to the removal of the watchlist status...