Click on above 64-second video for a short virtual tour of the XMH warehouse and glimpse the marine diesel engines and power generators awaiting delivery to customers. To increase the video quality, place your mouse over the 'Change quality' icon at the bottom of the video.

XMH Holdings, which is the world's largest distributor of Mitsubishi diesel engines, has secured two contracts worth S$2.8 million from an Indonesian ship owner.

The customer, which has done business with XMH previously, placed an order for brand new Mitsubishi marine diesel engines with  gearboxes.

Another order was for e-Gen power generating sets. e-Gen is an in-house marine and industrial power generating solution package.

These items will be installed on tug boats. They will be delivered by FY2014.

XMH's total order book currently stands at S$76 million. To put this figure in perspective, XMH's 1H2013 sales (May-Oct 2012) came up to S$48.7 million.

XMH, whose stock closed at 29.5 cents yesterday, is one of the few businesses enjoying a negative cash conversion cycle. For more, read our recent storyXMH: Insights from visit by fund managers, analysts

Lee Sze Hao, the CEO of Sing Holdings, in front of a portrait of his father, the founder of the company. NextInsight file photo

SING HOLDINGS insiders have accumulated shares of the company after it announced an 87% jump in net profit to S$41.1 million for FY2012.

The boutique property developer had also proposed a final dividend of 1.6 cent a share, up by 60% year-on-year.

FH Lee Holdings bought 500,000 shares of Sing Holdings at 44.5 cents on 15 Feb, raising its interest to 138,441,746 shares, or 34.52% stake in the property developer.

Earlier, on 14 Feb, FH Lee Holdings bought 1,201,000 shares at 44.48 cents a share.

The CEO of Sing Holdings, Lee Sze Hao, has a deemed interest in the shares held by FH Lee Holdings, which is a family investment vehicle.

On 18 Feb, Mr Lee bought 122,000 shares for his own account at 43.5 cents a share.

These purchase prices are sharply higher than the 30.5 cents that FH Lee last paid in June 2012 when it bought 250,000 shares.

Likely, the most recent purchase prices are the highest that FH Lee Holdings and Mr Lee have paid for in many years, as the stock has not traded as high as in recent weeks. 

That seems a pretty bullish signal about the prospects of the company. In any case, the stock is not expensive. As Goh Han Peng, an analyst at OSK-DMG wrote in a Feb 14 report, "at current levels, the stock trades at a deep discount of 49% to our RNAV of 84cts/share."

Post or read about Sing Holdings on this thread on the NextInsight forum 

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