ICP   

Goldtron

Hey Guru's any take on this stock - ICP?? Pls advice...

 

Never touch a small/mid size electronic manufacturing coy....cannot cushion in bad times....just personal view from personal experiences...

 

Goldtron 1H09 turnover: Discontinued ops, 67%. Electronic svcs, alluminium extrusion n diecasting, machining manufacturing svcs & mfg of precision components, 32.3%. Others 0.7%.

Alligator below post had stated clearly d coy direction. Coy in FY red since 2007 & 2008. It would be definitely under SGX monitoring should its FY09 goes to red again. Definitely will.

Its current NAV is $0.0089; PE. NA ;Market Cap left only 48.889 mil.

Above for sharing, no calling.

 

is it a good move to buy at 0.01?

 

Time had passed.

News from The Edge : Goldtron to cease being a going concern



Electronics manufacturer Goldtron says it will no longer be a going concern as it is unable to raise about $12 million to satisfy all its liabilities as well as meet the demands of bank and non-bank creditors due to its decision to close one of its larger factories in Xiptech (Wuxi) Co.

On Apr 28, Xiptech Wuxi was notified by the Intermediate People’s Court of Wuxi city Jiangsu Province that an application has been filed by Wuxi-Singapore Industrial Park Development Co. (WSIP) on Apr 21 to wind up operations as it was unable to meet WSIP’s demand for the repayment of RMB8.6 million. The petition to wind up Xiptech Wuxi comes amid a strike by workers at one of the larger factories of Xiptech Wuxi which has led major customers to cancel all present and future orders. Goldtron’s management had been in negotiation with the workers to end the strike action.

But with the winding-up petition, Goldtron says it will close the larger factory operated by Xiptech Wuxi and terminate the negotiations.

This means payment of minimum wages to the striking workers of Xiptech Wuxi will cease immediately and help cut the factory’s running costs by RMB1.2 million per month, enabling the group to conserve its resources to preserve the smaller factory operated by Wuxi Fortune Technology for servicing customers after the economy recovers, says Goldtron.

Goldtron says it will make a provision for its investment loss in Xiptech Wuxi amounting to $15 million and expects to report a loss after tax for the second half results for the financial year ended June 30.

 

Why ? Not surprising that it will consolate from 40 to 1 ? 

discrete0      ( Date: 19-Dec-2008 01:07) Posted: anyone knows its website ty

 

anyone knows its website

ty

 

GOLDTRON LIMITED
ANNOUNCEMENT OF ACQUISITIONS AND REALISATIONS OF ASSETS

 

may have no room to fall but very limited to up due to huge volume, ie more supply than demand

 

Now that its price is at 1 cent, how much more can it fall???

.... a good bet????

 

 

Goldtron has appointed executive director Ong Soon Kiat, its former executive chairman, as its new CEO. The electronics company has also appointed Choy Peng Lam as an executive director.

Mr Ong's return to the helm of Goldtron comes 8 years after he had been forced to resign as executive chairman, and a director, in January 2000 following his conviction for market rigging in March 1999. He was fined a total of $250,000 after he pleaded guilty to 5 charges accusing him of creating a false impression that trading in the counter was active between July and October of 1995. Three other charges against him of creating a false appearance with respect to Goldtron's share prices were taken into consideration.

His conviction had led the Registrar of Companies to ask him to resign from his directorships. Mr Ong took legal action to obtain relief to act as a director, and the courts subsequently allowed him to continue as a director. Goldtron reappointed Mr Ong as an executive director in April 2000.

 

GOLDTRON LIMITED (Co. No. 196200234E)
__________________________________________________________________________
LETTER IN REPLY TO SGX?S QUERY
__________________________________________________________________________
29 October 2007
Singapore Exchange Securities Trading Limited
2 Shenton Way, #19-00
SGX Centre 1
Singapore 068804
Attention: Mr. Hui Siu Wai
Dear Sirs,
QUERY REGARDING NEWSPAPER ARTICLE TODAY
In response to your email query regarding a Straits Times article on 29 October 2007
headlined ?Goldtron eyes business of bad breath in China?, we hereby answer as follows:
Q1(i): Please confirm whether this report is accurate. Is the reported information
material? Please make the necessary announcement as soon as possible in order
to keep the market informed.
A1(i): We hereby confirm that this report is accurate. The reported information is not
expected to have a material effect on the operating results of the Group for the
financial 1st half year ending 31 December 2007.
Q1(ii): If the Company is of the view that the information is not material, kindly
provide the basis for the Company?s view.
A1(ii): The infrastructure for the business of bad breath in China is in the process of
being set up.
We wish to take this opportunity to confirm that as stated in the article, Dynamar is looking
to buy a factory in Wuxi, China. The factory will manufacture and distribute mechanical
parts for the computer, telco and automobiles industries. Also, the Company confirms that it
intends to use Dynamar?s distribution network in the China market to promote dental and
health care products.
We also wish to take this opportunity to correct a reporting error in paragraph 2 of the article
which stated that ?The shares last traded at two cents, giving it a market capitalization of
$105 million.? It should read as: ?The shares last traded at two cents, giving it a market
capitalization of S$52.63 million.?
We trust the above answers and clarification are satisfactory to you.
Yours faithfully,
For and on behalf of
Goldtron Limited
Koh Seoh Hoon
Company Secretary

 

pardon my ignorance im new to this but where do i go and check for the sgx query? in the papers ?

 

Read the query by SGX and explanation by the company, digest and you would make the right choice.

耳听五分假，眼见未为真
企业要成功 要选对人才

 

hi im new to investing and im wondering would it be safe to invest in goldtron i read about it on the news it does look positive. if its not too much trouble can some1 give me some pointers? thankyou

 

If Chairman's father taking over control, with his vast experience as finance minister and business network the company would definitely grow rapidly. Young ginger is good, old ginger is better, right?

 

Goldtron is holding a AGM soon to dispose off Radiance shares for quite a attractive sum $19mil..

 

This counter is very hot trading today and the price shoot up 33.3%. Anyone know what happen? Is some company is buying over this Company?? Since this 2 weeks all there are many positive news for Goldtron. Anyone hear any more good news....?

 

tiandi,

Makhzani (ex-Malaysia PM's son) is the Chairman, Ong Soon Kiat is the CEO, do you mean OSK is not capable to turn around the company? Anyone knows the history of Ong Soon Kiat?

 

 

 

tand
Thanks 

superboy, although I have invested million shares which I bought at much higher price months back I still not encourage other people to follow. Other people may not share my view.
If you have confidence in the company then buy  more to become major shareholder > 3 %, right?
EPS 2003 $0.001 2004 000 2005 $0.001 2006 again $0.001, correct if I am wrong.
1H 07 $0.001, right? Btw  I still loyal to the company and hope management know how to use their network to gain big piece of cake for the benefit of  themselves, staff, investors and others.  Good luck. Sembahyang hajit.