SERVICE OF WRIT OF SUMMONS ON SUBSIDIARY

Further to the announcement made on 29 April 2009 on the service of the Writ of Summons on its wholly-owned subsidiary, Cacola Holdings Limited ("Cacola Holdings"), the Board of Directors of Cacola Furniture International Limited (the "Company") would like to inform that Cacola Holdings had on 15 June 2009 received a copy of the Final Judgment granted by the High Court of The Hong Kong Special Administrative Region in favour of IW Asset Management Limited ("IW Asset") on the payment of an amount of HK$21,379,644.75 together with interest thereon at the rate for of 8% per annum and at judgment rate and fixed costs of HK$11,045.00.

Cacola Holdings has instructed its solicitors to take out an application to set aside the Final Judgment to protect Cacola Holdings from the possibility of being wound up by IW Asset and to defend the same depending on the outcome of the said application.

The Company shall keep shareholders informed and updated on material developments in respect of the above matter.

The Final Judgment against Cacola Holdings is not expected to have any material impact on the Group’s performance in FY2009 and based on the information available to date, the Group will be able to continue as a going concern. The Group has sufficient net current assets to meet its liabilities.

In the meantime, shareholders are advised to exercise caution when dealing in the shares of the Company.

BY ORDER OF THE BOARD

CACOLA FURNITURE INTERNATIONAL LIMITED

 

The company got RMB 175,413,000.00 cash on hand !! Very tempting to take a risk to enter now at low price !! any opinion ??

Summary: Cacola Furniture International Ltd (Cacola) turned in a disappointing set of 4Q08 results with a net loss of RMB11.4m vs. a profit of RMB28.5m a year ago. Revenue declined 12.5% YoY and 18.0% QoQ to RMB129.9m. For the full year, the group reported a 14.8% slump in earnings to RMB105.0m despite a 16.4% gain in sales to RMB656.9m. No dividends were declared. 4Q08 earnings were tainted by a RMB36.2m bad debt provision, excluding which the group would have managed to remain in the black. We think that the group’s outstanding trade receivables could be threatened by more defaults as more of its specialty shops are expected to fold in 1H09. Cacola trades below its S$0.10/share cash value. However, cash levels may not provide much support to share price as the group’s cash position could deteriorate in FY09. Given the bleak outlook and lack of near term price drivers, we are suspending coverage on the stock. (Lee Wen Ching)

this one in march from ocbc also. hai... all this MFT can't be trusted one lo.... I remember last year when cacola trade around 0.35 they up thier TP to 0.69... now lan lan lo...the mouth kenal stuff liao... haha....

OK,

 I found it.

You can go to the HOME headers and click Stocks, then click the stocks A......Z

It gives a brief info of the company's outlook and financial info for reference