Post Reply
1-9 of 9
| iPunter ( Date: 21-Mar-2009 09:33) Posted: |
StarLine ( Date: 18-Mar-2009 01:10) Posted:
|
Sorry, just cannot resist to comment on this posting title and company name.
"Scream for more ? Yes, Youcan !"
Latest from Youcan!
- Sales up 137% to Rmb 271.7 million
- Gross Margin of 21%
- By current growth trend, capacity would be strained in the near future
- Mandatory acquisition of factory premises provided 'incentive' to move to newer and bigger premise - this is also in-line with the company's long-term plans
Let's see where all these will add up...
FY06 results are not expected to be impressive. Hence, adopt a conservative ?wait-and-see? approach.
Valuation seems lofty at this juncture. Therefore PS reduce their rating to HOLD, while maintaining fair value estimate at $0.35.
do u think the shares will be push up after FY result
It is to issue 9,486,180 new ordinary shares $0.31 new shares (" to Yeo Hiap Seng. Upon completion of the Placement, YHS will own approximately 4.76% of the Company?s enlarged issued share capital of 199,209,796 ordinary shares, and has undertaken not to realise, transfer or dispose any part of the New Shares for a period of six months.
Youcan intends to use the RMB 14.852m ($2.94m) proceeds to finance its aggressive business expansion plans to penetrate new markets, the expansion of its production capacity to meet growing demands and for working capital purposes.
YHS brings with it certain synergies, including a wide distribution network in Singapore. In addition, YHS will also be able to provide distribution links to more than 60 countries worldwide.
Popiah King is a major shareholder. Sam Goi beaome one of Youcan's first few strategic investors with a 14.94% deemed interest through the China World Agents Ltd's participation in Youcan's restructuring exercise in mid '04. He subsequently raised his stake in Yocan to 16.06%, buying 1.12% under his own name.
Macondray Co. Ltd (MCL) is another major shareholder with 16.06% through a series of married deals and open market purchases. MCL is owned by Macondray & Co. Inc., which is in turn controlled by the Lorenzo company of the Philippines.