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Golden Agri achieved $9m net profit in 1QFY09 against $133m net profit in 4QFY08 despite better CPO market price?
Chances of rights issue are high since they have already started discussions with underwriters?
i think that when the Widjaja family or the Group sees the reaction to this news - the selldown will prompt them to rethink, and will opt NOT to proceed with the rights issue - else, why would they leave themselves the option of not doing so? why did they then subsequently issue a statement to clarify that they had "not yet formerly engage..."blah blah..?
they just want to test water lah...
just got sold down, so not a good time to enter, i think wait for a while and observe first, wait till seller finish dumping before making a move.
E-war ( Date: 15-May-2009 16:37) Posted:
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Thanks Mr Alligator! You just saved me a bundle!
[The Board wishes to clarify, however, that the Company has not yet formally engaged managers and underwriters in relation to a Proposed Rights Issue. It is in discussion on terms of a Proposed Rights Issue and the amount to be raised, but has not entered into any definitive documents in relation thereto.
There is no certainty that a Proposed Rights Issue will proceed and the Board advises shareholders and investors to exercise caution in dealing in the shares of the Company and to refrain from taking any action in respect of their shares which may be prejudicial to their interests.
The Company will make relevant announcements at the relevant time to update shareholders if there are any further developments in relation to a Proposed Rights Issue.
By Order of the Board
GOLDEN AGRI-RESOURCES LTD]
well...wat do u think in a bear rally like now? better sideline and await the dust to settle lah...unless ur $$ are not HARD EARNED ! :D
E-war ( Date: 15-May-2009 16:37) Posted:
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from SGX website
The attention of the Board of Directors ("Board") of Golden Agri-Resources Ltd (the "Company") has been drawn to the IFR Asia ECM Briefing notes dated 14 May 2009 ("Brief") which states:
"BNP Paribas and Credit Suisse are handling a rights issue for Singapore-listed Golden-Agri Resources to raise roughly S$293m (US$200m). The major shareholder of the company is the Widjaja family, which owns 48.5% of the company. Golden Agri is the world’s second largest oil palm plantation (by planted hectarage) and its main area of business is in Indonesia. The company is releasing its financial results for its first quarter ended March 31 results tomorrow".
The Company constantly considers opportunities to improve its performance and to strengthen the Company and its subsidiaries' (the "Group") financial flexibility and competitive position to support the Group's growth as and when opportunities arise. As such, the Company is currently in the process of considering a rights issue (“Proposed Rights Issue”) and is in discussion with potential managers and underwriters, including but not limited to the banks identified in the Brief.
The Board wishes to clarify, however, that the Company has not yet formally engaged managers and underwriters in relation to a Proposed Rights Issue. It is in discussion on terms of a Proposed Rights Issue and the amount to be raised, but has not entered into any definitive documents in relation thereto.
There is no certainty that a Proposed Rights Issue will proceed and the Board advises shareholders and investors to exercise caution in dealing in the shares of the Company and to refrain from taking any action in respect of their shares which may be prejudicial to their interests.
The Company will make relevant announcements at the relevant time to update shareholders if there are any further developments in relation to a Proposed Rights Issue.
By Order of the Board
GOLDEN AGRI-RESOURCES LTD
Simon Lim
Director
15 May 2009
Wat wld be a gd px to buy? 0.39 or lower?
har??? 39cts now?!??! wow....hee.... :D
SINGAPORE: Golden Agri-Resources said its first quarter net profit fell 94 per cent on-year to US$8.7 million.
This is due mainly to lower revenue from crude palm oil prices, which more than halved in the first quarter. Revenue fell 45 per cent on-year to US$412 million.
Golden Agri-Resources said the long-term industry fundamentals remain firm, notwithstanding the near-term volatility.
It said it would continue to manage its operating costs and increase production by improving operational efficiency and plantation management techniques.
The company is projecting a capital expenditure of around US$225 million for 2009.
| Announcement Title * | Date of Release of First Quarter 2009 Financial Results |
| Description |
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Ha ha, hope d result pushes d px. Its last 1q was on 12 May 08. Cheers.
Frend. Wats so good abt ds guy? Forget him lah!
whenever i see status H i very scared...hope its really some good announcements...haha..LOL...
tsneo888 ( Date: 15-May-2009 10:41) Posted:
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halt due to announcing Q1 , I believe
Bro,good announcement?
oinkoink1999 ( Date: 15-May-2009 10:38) Posted:
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how come halt trading?Halt how long?
oinkoink1999 ( Date: 15-May-2009 10:35) Posted:
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| The details of the announcement start here ... |
| Date of Trading Halt * | 15-05-2009 | |
| Time of Trading Halt * | 1020 hours | |
| Reasons for Trading Halt * |
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Trading HALT..any idea what happened?
after factoring all splits and bonus, all time high 1.18 :)
what's the actual price of GAR if u exclude all the splits? (can remember how many time they split..but i know they are on par in terms of price with wilmar)