| Peak International Ltd. | |||
| Ticker: | PITLF | 9 Hoi Shing Road Wharf Cable Tower | |
| Exchange: | NASDAQ-National Market | Tsuen Wan, HKONG | |
| Industry: | Transportation (SIC Code 4783) | ||
| # of Employees: | 118 | ||
| Type of Shares: | Common Shares | Filing Date: | 3/19/97 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 6/20/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.78 | |
| Offering Amount: | $39,000,000 | Selling: | $0.47 | |
| Expenses: | $1,665,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,461,538 |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Peregrine Brokerage | Co-manager |
| Issuer's Law Firm: | Davis, Polk & Wardwell |
| Bank's Law Firm: | Paul, Weiss, Rifkind, Wharton & Garrison |
| Auditor: | Deloitte & Touche |
| Registrar/Transfer Agent: | ChaseMellon Shareholder Services, L.L.C. |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/97 | 3/31/97 | ||||
| Revenue: | $57.59 | Assets: | $53.80 | ||
| Net Income: | $13.52 | Curr Assets: | $38.05 | ||
| EPS: | $1.29 | Liabilities: | $27.52 | ||
| Prior EPS: | $1.10 | Curr Liabilities: | $27.15 | ||
| Cash Flow/Oper: | $9.48 | Equity: | $26.27 | ||
| Cash Flow/Fin: | $0.41 | Cash: | $1.81 | ||
| Cash Flow/Inv: | -$9.03 | Working Cap: | $10.90 | ||
| Business Description |
| The company is a leading supplier of precision engineered packaging products for the storage, transportation and automated handling of semiconductor devices and other electronic components. The company's products are designed to interface with automated handling equipment used in the production and testing of semiconductor and electronic products. The company's customers include semiconductor companies such as Texas Instruments, SGS-Thomson, Philips and Motorola, as well as subcontract assembly and test companies such as ASAT and ASE. The company's products are designed to ensure that semiconductor devices and electronic components, which are often delicate and may have significant value, are protected from mechanical and electrical damage during storage, transportation and automated handling. The company produces principally matrix trays, shipping tubes, reels and carrier tape. The company also produces leadframe boxes and interleaves used in the storage and transportation of leadframes. In addition, the company sells recycled matrix trays and reels under the trade name "SemiCycle." The company believes that its recycling programs, whereby the company collects and recycles both products manufactured by itself and products manufactured by others, enable it to expand its customer base by providing it with opportunities to supply both newly-manufactured and recycled products to customers. |
| Competition |
| The markets for the company's products and services are highly competitive. The company's products compete with similar products manufactured by other companies, some of which have substantially greater financial resources than the company. The company competes in the markets for tray products, tube products and tape-and-reel products. The company classifies its competitors as large diversified manufacturers, large single-product manufacturers and small local job-shop style manufacturers. Large diversified manufacturers are typically divisions of large multinational companies which compete with the company in markets for more than one product. Large single-product manufacturers typically have international operations similar to those of the company. Small local job-shop style manufacturers typically operate only within certain geographic regions, such as Taiwan and Singapore. The company is not aware that any of its major competitors offers the range of products and services offered by the company. The company believes that it competes with large diversified manufacturers through its focus on serving the semiconductor and electronics industries, with large single-product manufacturers through its broad range of product offerings and with smaller local job-shop style manufacturers through its international organization which enables the company to meet the requirements of multinational customers with several production facilities at various locations. The company believes that the principal competitive factors in the markets for the company's products and services are responsiveness and flexibility (including short delivery cycles and the ability to supply large quantities on short notice), price, product quality and range of products and services available. |
| Business Plan |
| The company's objective is to increase its market presence in serving the growing semiconductor and electronics industries by providing quality service, precision engineered packaging solutions and recycling alternatives to manufacturers of semiconductor devices and electronic components through its integrated manufacturing capability and its recycling programs, with collection points in Asia, North America and Europe. The key elements of the company's business strategy are as follows: (I) Leverage Industry Expertise of Senior Management, (ii) Maintain Close Customer Relationships, (iii) Shorten Delivery Time, (iv) Offer a Broad Range of Products, (v)Increase Volume Supply Capabilities and (vi) Emphasize Quality Assurance and Process Control. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness, to expand existing facilities and build a new plant in Shenzhen, China. |
| Name of Shareholder | % Owned Before | % Owned After |
| Mr. T.L. Li | 100.00% | 77.70% |
| Officer Name | Title | Age |
| Mr. T.L. Li | Chairman and Chief Executive Officer | 45 |
| Mr. Jerry Mo | Chief Financial Officer and Controller, Director | 38 |
| Mr. Richard M. Brook | President and Chief Operating Officer, Director | 37 |
| Mr. Steve R. Dezso | Vice President | 32 |
| Mr. Mao Shi Khoo | Vice President | 35 |