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this counter is moving higher and likely to raise fund
thro new placement of shares soon.
proposed change of name to RH PETROGAS LIMITED and
also become a gas and petroleum industry player.
this counter on the move again.
look like crossing $0.70 soon.
after nickyng strong words, some action now.
thk. nickyng.
Who is the agent for this placement ?
this JUNK is hitting 50cts soon..haha...big deal abt 80cts placement ? looks like a big conn job! :P
next supp 40cts!:P March 2009 low! :D
the closing px today $0.61 is almost 25% DISCOUNT from the placement px
of $0.80. Maybe is the time to consider collecting.
normally share px higher than placement px but this one
different. I also dun know can buy or not.
Time to buy?
derekchong ( Date: 27-Sep-2009 10:26) Posted:
|
Tri_M proposed placement of 54,500,000 new shares at $0.80 per share received approval
in principle from SGX .The closing px done on Friday at $0.735 look cheap to me.Any
comment.
Sorry not query buy SGX, but need to clarify the articles in Business Times!
When no news, quiet for so long !
Today talk so much in Business Times, kana query by SGX !
ELECTRONICS contract manufacturer Tri-M Technologies said yesterday it expects to see a turnaround in earnings when gains from a new business venture start streaming in.
Dr Tiong: Says Tri-M's new business is expected to revive the company and bring it to a higher level of profitability
This will meet a deadline of 24 months to restore the company's financial health and lift it from the Singapore Exchange's watch-list of loss-making companies.
'We hope to produce a certain quantity of oil in the next two years to generate some profit,' Tri-M executive director Tiong Ik King told reporters on the sidelines of an annual general meeting yesterday. To be lifted from the watch-list 'is what we are striving towards'.
The company has been on the watch-list since March 5 after three straight years of pre-tax losses. Last year, its net loss widened to $11.87 million from $365,000, as revenue slumped 65.6 per cent from a year earlier to $19.34 million.
Tri-M is now diversifying from its traditional business of printed circuit board assembly and related accessories into the booming oil and gas sector through the proposed acquisition of Kingworld Resources, a company incorporated in the British Virgin Islands, which will jointly explore for and produce oil with China National Petroleum Corporation (CNPC).
A memorandum of understanding has been signed by Tri-M and Kingworld under which Tri-M will buy 100 per cent of Kingworld's equity via cash and the issue of shares. The purchase consideration depends on an independent professional valuation of the estimated reserves of an oilfield property and the number of production wells.
A definitive agreement, subject to shareholders' approval among other conditions, is expected to be signed after the valuation report is completed in two to three months.
Although there is no synergy between Tri-M's existing electronics business and the new venture, Dr Tiong said the new business is expected to 'revive the company and to bring it to a higher level of profitability'.
An agreement signed by CNPC and Kingworld covers 254.9 sq km in Jilin province in China, of which a third has proven oil reserves and is ready for production, Dr Tiong said. Profit-sharing arrangements between CNPC and Kingworld have not been disclosed.
Of $4.15 million raised through a share placement in March, Tri-M will use $2.5 million to fund expenses arising from procuring an independent technical report and valuation report on the oilfield property. The company said it will seek further finance when exploration and production work starts, as a project of this size typically costs $30 million to $50 million.
Meanwhile, outlook for the electronics business remains cautious, said Tri-M's chief executive Foo Sac Phoon. The group aims to cut losses in its existing electronics business by closing a loss-making plant in Shenzhen, China and tightening cost controls. But it is not giving up on its electronics contract manufacturing business, and is looking at automotive parts as a potential new segment.
'We are looking at providing electronic gadgets used in the cars, mainly for the European markets,' Mr Foo said.
Kena SGX ask the 3 stupid questions after it hit top gainers!
2day top volume again !!!
Dont get carry away with sudden burst in volume and px.
Will have similar fate like KOON.
Me got burned by KOON.
Tri-M Technologies Ltd. Announces Proposed Issue Of Up To
40,000,000 New Ordinary SharesMon Mar 17 08:48:00 EDT 2008
Tri-M Technologies Ltd. announced that it has entered into a placement
agreement dated March 17, 2008 with HL Bank (the Placement Agent)
and Surreyville Pte Ltd (the Scrip Lender). Under the terms of the
placement agreement, the Company will place up to 40,000,000 new
Shares (the New Shares) with the Placement Agent at the price of
SGD0.109 (the Offer Price) for each New Share.
http://stocks.us.reuters.com/stocks/keyDevelopments.asp?symbol=TRIM.SI
One of the important requisites of the trader is ---
Do not be emotional. You may lost feel of the reality.
I only envy awhile, so I think it doesn't affect me much.
Tri-M is under SGX watchlist. If you want to buy this counter, just be careful.
U can check the first few trades are married deals.
Some people are lucky to have easy money. Yes, i am envious.
But i will earn for myself an honest trades with my skill very soon. If God willing, i will earn as much as these
