Stable business model. Aqua-Terra Supply Co Ltd (Aqua-Terra) is wellpositioned as an integrated one-stop shop solution provider, providing both hardware and customised engineering solutions. Aqua-Terra presently has more than 30 authorised distributorships for over 160 types of consumable
products such as high pressure flow control equipment, fluid connector
assemblies, professional heavy-duty hand tools, oil country tubular goods,
wellhead lubricants and offshore cargo nets.

Good set of 3Q08 results... Aqua-Terra recently delivered a healthy set of 3Q08 results. Revenue increased by 25.3% YoY (10.1% QoQ) to S$79.2m, thanks to higher sales achieved by subsidiaries. This flowed down to PATMI, which increased by 67.5% YoY (35.1% QoQ) to S$4.8m.

Initiate with NEUTRAL, target price S$0.12