Suntar Eco-City    Last:0.083   -

Improving yields and plant health

hit previous high 15, small float, so ezy to hit 20 

 

something brewing???

 

limited floating shares.

 

Chew Xiang of Business Times Singapore wrote on 17 October 2008 an article titled Sinomem unit may be facing corporate governance issues.

Quoting the article: Reyphon, a subsidiary of SGX-listed Sinomem Technology, said that it was reorganising its subsidiary's board of directors and management, and may even shut down production plants in Jiangxi province...Reyphon Biochemical (JNR) had 'accumulated abnormally high inventories' and that its management had also spent heavily to start a new business without informing the Reyphon board. 'Consequently, JNR's operating cash position has deteriorated significantly as a result of high inventories and the aforesaid capital expenditure,' it said. Reyphon said that JNR 'may have difficulty in rolling over its bank loan and hence may face shortfall of working capital'. The company said that it would try to collect trade debts and review the need for the new business in order to conserve working capital. In its most recent results reported for the quarter to June 30, Reyphon had a negative net cash flow from operations of 11 million yuan (S$2.4 million). It held cash and bank balances of 67.5 million yuan and has a bank loan of 48.7 million yuan due this month.

Anyone know what exactly the corporate governance issue is and if its resolved? Also if the CEO of Reyphon (XinGuang Lan) is related to the CEO of Sinomem (WeiGuang Lan) who sits on the board of Reyphon as this would raise potential questions about Sinomen's corporate governance as well. Garment still policing these S-chips?

 

experts, any comments?

 

some action liao

 

Q2 2009 Results

 323k profit for Q2, turnround soon?

 

wah!!! drop so much, 50% discount to ipo 39.

 

it has formed a 3 days cci +divergence, anytime fm now til end of the wk will be a reversal. let's see...

 

bought @ 40, see it keep dropping, dunno to sell or not or buy to ave.

 

anybody knows the reason for dropping so drastic???


 

 The Board of Directors of Sinomem Technology Limited would like to announce the purchase of 868,000 shares in its listed subsidiary in Singapore, Reyphon Agriceutical Limited by its subsidiary, Suntar Investment Pte Ltd at an average price of S$0.3526 per share on 20 August 2007 and 21 August 2007. 


 

http://info.sgx.com/webcorannc.nsf/0357d11048060bb84825735f0028e25b/4cd911bc4a8d9c7b4825733f00386707?OpenDocument

 

so tempting today but i will wait for results first.

 

everyday getting cheaper... 

 

all time low; ipo @39. today someone throw last min @ 30.5 , 42lots. is it that bad for this company? have been waiting to go in, maybe wait for q3 results.

 

lousy stock, still holding @ 42. today why drop?

 

Reyphon produces gibberellic acids - a plant growth regulator that improves yields for crops like rice, fruits and vegetables. Gibberellic acids are naturally found in plants, and help to improve plant health - they are thus fundamentally different to chemically synthesised fertilisers, which seek to replenish the nutrients in the soil.

Li Jian Ke, an executive director at Reyphon who is also Sinomem's CTO, said Reyphon uses biological processes to ferment corn starch or other organic raw materials to produce the acids GA3, GA4 and GA7.

Over-use of fertilisers has led to environmental disasters in China, such as the widely reported algae bloom in Lake Tai at Wuxi earlier this year, said Lan Weiguang, non-executive chairman of Reyphon and chairman of Sinomem. Reyphon's products do not cause these problems, as they are expensive and sparingly used, and are better absorbed by plants, Dr Li said.

Its IPO price was $0.39.