Back

Latest Forum Topics / Novo Group

Post Reply

Any opinion about Novo Group Post Reply Rate topic
kenkenken Senior	18-May-2010 23:24        kenkenken About Contact  Quote this Post!
x 0   x 0  Alert Admin	yap, at least it they did not make any red in FY09 or else they can forget about the dual listing
Useful To Me  Not Useful To Me
grandmaster89 Veteran	18-May-2010 19:06        grandmaster89 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	After seeing Abterra failure to get dual-listed this year, I guess the Management will wait till after FY 10 results are released in June 21 before proceeding for dual listing. HKSE requires companies to report HK$30 million net profit in the last financial year and a further HK$20 million in the previous 2 years. Novo FY 09 earnings was small...so I guess it will wait for FY 10 results first. Novo earned US$10.1 million in 9M 10.
Useful To Me  Not Useful To Me
grandmaster89 Veteran	09-May-2010 13:36        grandmaster89 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	No difference. The plant haven't been construct yet and would only be ready in 2012. So it has no financial effect on Novo's results. Novo was prepared to invest US$24 million in this project - perhaps they found something better ie a iron ore mine ??? Either way, if it turns out to be a success in 2012, Novo can exercise their right to subscribe into the scrap processing Company.
Useful To Me  Not Useful To Me
highrisk1 Member	09-May-2010 13:21        highrisk1 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	What does that imply to the fundamentals of this stock? How will the investor perceive this piece of news? Please advise.......
Useful To Me  Not Useful To Me
grandmaster89 Veteran	07-May-2010 17:55        grandmaster89 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	UPDATES ON SCRAP STEEL PROCESSING PROJECT Further to the announcement made on 13 January 2010 in relation to the proposed scrap steel  processing project (the “Project”), the Board of Directors of Novo Group Ltd. (the “Company”, and  together with its subsidiaries, the “Group”) wishes to update Shareholders as follows: 1. Subsequent to receiving the letter of approval from the local authority of the PRC regarding the  reservation of the land to Iron and Steel Resources Limited (“ISRL”) for the construction of the  Project, the parties have been working on the definitive terms and conditions for the allocation  of land with the relevant authorities. In view that the definitive terms and conditions imposed by  the relevant authorities are more stringent than the original understandings of the Company, in  particular, in respect of the investment commitment requirements, the Company has decided  not to participate in the Project at this stage. Instead, the joint venture partner of ISRL, (which is unrelated to the Directors and substantial shareholders of the Company) (“JV Partner”) and  following to the disposal of entire shareholding of 55% in ISRL by the Company to the JV partner, will continue to explore the opportunity to undertake the Project at its own costs.. The Project Investment Agreement was signed by the JV partner and Local government recently. 2. Taking into account the core expertise of the Group in global steel trading and distribution, strong networks of the Group with banks and financiers which helps in sourcing financing, the Group’s strong networks with PRC steel mills and overseas steel mills which can provide the supply of raw materials for the proposed scrap steel processing plant and the Group’s network of customers which can become the potential customers base for products of the scrap steel processing plant, as well as the Group’s familiarity with the entire supply chain of steel production and its products from raw material, semi-finished products to finished products, the JV Partner has already signed a legal binding MOU with the Group, offering a first right of refusal to subscribe for up to 60% of the equity in the investment holding company controlled by the JV Partner that will be undertaking the Project. The subscription price and other terms of the subscription for the Group’s investment in the said investment company will be mutually agreed between the parties at a later date should the Group wishes to participate in the equity of the said investment company in future. In such event, the Company will make the necessary announcements, seek approval from Shareholders (where necessary) and comply with the applicable requirements of the Listing Manual. BY ORDER OF THE BOARD Yu Wing Keung, Dicky Executive Chairman 7 May 2010   DISPOSAL OF INDIRECT SUBSIDIARY – IRON AND STEEL RESOURCES LIMITED The Board of Directors of Novo Group Ltd. (the “Company") wishes to announce that Global Wealth Trading Limited, a wholly-owned subsidiary of the Company, had disposed its entire shareholding of 55% in Iron and Steel Resources Limited (“ISRL”) (together with its subsidiary, Xintong (Taizhou) Steel Products Limited) for an aggregate consideration of HK$5,500 (the “Disposal”) to Mr. Lin Xiutong, who is not related to any of the Directors or controlling shareholders of the Company. The Disposal is not expected to have any significant impact on the financial position of the Company for the current financial year. None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transactions. Updates on scrap steel processing project to be undertaken by ISRL is being released separately to the Singapore Exchange Securities Trading Limited. BY ORDER OF THE BOARD Yu Wing Keung, Dicky Executive Chairman 7 May 2010   Looks like Novo have decided to stop their proposed investment in a scrap processing plant (to be operational in 2012) due to the higher than anticipated cost. It has divested its share of the project for HK$5,500 to its JV partner. If the project turns to be a success, Novo have the right to subscribe up to 60% of the project at a later date. Novo was prepared to fork out US$24 million for this investment. Could they have a better target in sight ?
Useful To Me  Not Useful To Me
grandmaster89 Veteran	06-May-2010 11:19        grandmaster89 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Back to 20 cents.
Useful To Me  Not Useful To Me
des_khor Supreme	06-May-2010 11:04        des_khor About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Tell me who is the God or MFT from this forum??"
x 0   x 0  Alert Admin	0.195 !!! what happen ??
Useful To Me  Not Useful To Me
blurblurman Senior	04-May-2010 11:08        blurblurman About Contact  Quote this Post! Style: Flexible   Mood: Yells: "no contra please"
x 0   x 0  Alert Admin	hitting 0.2 soon
Useful To Me  Not Useful To Me
highrisk1 Member	04-May-2010 10:48        highrisk1 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Time to accumulate this counter........anything 0.20 and below, just go ahead and buy to put in your freezer........Happy investing
Useful To Me  Not Useful To Me
highrisk1 Member	28-Apr-2010 17:14        highrisk1 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	grandmaster89,   any impact to the organisation on the piece of news you posted? Thanks
Useful To Me  Not Useful To Me
grandmaster89 Veteran	26-Apr-2010 17:49        grandmaster89 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	INCORPORATION OF A SUBSIDIARY The Board of Directors of Novo Group Ltd. (the “Company") wishes to announce the incorporation of the following subsidiary: Name : Hua Qiang (Shanghai) Trading Limited 上海华强贸易有限公司 Registered Capital : RMB5,000,000 Paid-up capital : RMB5,000,000 Principal Activities : Trading of metal products and materials Country of Incorporation : People's Republic of China The incorporation of the aforesaid company was funded through internal resources and is not expected to have any significant impact on the financial position of the Company for the current financial year. None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transactions. BY ORDER OF THE BOARD Yu Wing Keung, Dicky Executive Chairman 26 April 2010
Useful To Me  Not Useful To Me
highrisk1 Member	23-Apr-2010 17:37        highrisk1 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	haha.......i have kept my novo shares in the freezer too...... ; when the dual listing gonna starts? any spectacular news...?
Useful To Me  Not Useful To Me
grandmaster89 Veteran	23-Apr-2010 17:15        grandmaster89 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Last minute small sell-down LOL.  Keeping my Novo shares in the freezer till dual listing is confirmed or some spectacular news is announced.
Useful To Me  Not Useful To Me
des_khor Supreme	23-Apr-2010 17:11        des_khor About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Tell me who is the God or MFT from this forum??"
x 0   x 0  Alert Admin	Gone case 0.215 !!!!!!!!!!1
Useful To Me  Not Useful To Me
highrisk1 Member	23-Apr-2010 16:32        highrisk1 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	should have waited a bit longer.....still think that it will dip below 0.22..perhaps back to 0.20
Useful To Me  Not Useful To Me
EoinkEoink Member	23-Apr-2010 16:06        EoinkEoink About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just bought at 0.22. Hope it does not drop further.... Sigh.... risktaker      ( Date: 19-Apr-2010 23:15) Posted: I will surely go in @ 0.22 :) Happy to buy below 0.23 placement price
Useful To Me  Not Useful To Me
EoinkEoink Member	20-Apr-2010 08:51        EoinkEoink About Contact  Quote this Post!
x 0   x 0  Alert Admin	Will join you in buying at around 0.22-0.23 price level. Just hope the BBs will do the same as well. Cheers! risktaker      ( Date: 19-Apr-2010 23:17) Posted: Any BB here are in line with me to buy up this baby to $0.50 + ?
Useful To Me  Not Useful To Me
risktaker Supreme	19-Apr-2010 23:17        risktaker About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Sometimes you think you know, but in fact you dont"
x 0   x 0  Alert Admin	Any BB here are in line with me to buy up this baby to $0.50 + ?
Useful To Me  Not Useful To Me
risktaker Supreme	19-Apr-2010 23:15        risktaker About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Sometimes you think you know, but in fact you dont"
x 0   x 0  Alert Admin	I will surely go in @ 0.22 :) Happy to buy below 0.23 placement price
Useful To Me  Not Useful To Me
grandmaster89 Veteran	19-Apr-2010 21:04        grandmaster89 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Good to compare the operating results and the valuation of Novo's rivals - Abterra, Federal and Albedo. Then, we can see how wonderful Novo is hehe :)
Useful To Me  Not Useful To Me

                                                         First   < Newer   41-60 of 235   Older>   Last