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Anyone know what happen to this counter today? price up with extremely high volume, lots of big buyer! any good news?
Sinotech Fibre faces Q2 net loss of some S$25m
Posted: 14 August 2009 1618 hrs
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SINGAPORE: Singapore-listed producer of microfibre and synthetic leather, Sinotech Fibre, has swung into a net loss in the second quarter of this year.
Net loss for the period ended in June amounted to 118.6 million yuan or about S$25 million.
The China-based firm had earned a net profit of 97.3 million yuan or some S$20.5 million over the same period a year ago.
Sinotech said the loss came on the back of a 38.3 per cent decline in revenue due to the adverse operating environment.
Given the uncertain economic outlook, it expects the average selling price of its products to remain weak for the rest of the year.
It added that it intends to continue to invest despite the current business outlook.
past value does not equal to current value..
hogenterprise ( Date: 14-Aug-2009 12:15) Posted:
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This is a inverse of 10 bagger
Sino Techfibre’s shareholder Merit Asia
places out 60 million shares to institutional
investors for S$1.20 each
A number of pre-IPO investors have subscribed for more shares, as well
as new international funds
SINGAPORE – 25 April 2007 –Sino Techfibre Limited (“Sino Techfibre” or the
“Group” ), a leading producer of microfibre and
polyurethane (“PU”) synthetic leather in the PRC, announced today that its substantial
shareholder Merit Asia International Limited (“Merit Asia” or “the Vendor”) has agreed
to place out 6.45% of its shareholdings in Sino Techfibre Limited, representing a total of
60 million shares (“Vendor Shares”), to a number of local and foreign institutional
investors.
Merit Asia, which is 75% owned by Sino Techfibre’s Non-Executive Chairman, Mr Lam
Tin Tsoh and 25% owned by Chief Executive Officer Mr Li Wenheng, holds a total of
624,286,927 shares in Sino Techfibre, representing 67.13% of the Group’s issued share
capital.
The private placement, which is arranged by UOB Kay Hian Private Limited, is priced at
S$1.20 per Vendor Share, representing a 4.6% discount to yesterday’s volume weighted
average price. Subscribers to the placement include pre-IPO investors who wanted to
increase their positions in the Company. The private placement also attracted new
institutional investors.
Said Mr Li Wenheng ( ), Sino Techfibre’s Chief Executive Officer: “We are
gratified that such renowned institutional investors recognise the tremendous growth
opportunities in our Company. Their vote of confidence in our business prospects spurs
us to take Sino Techfibre to the next level of growth. It is also for this strategic reason
that Mr Lam and I decided to place out 6.45% of our shareholdings to these investors.”
“As a leader in the synthetic leather industry, Sino Techfibre is well-positioned as a
major supplier of PU and microfibre synthetic leather to China’s defence and government
sectors, and to a wide base of customers in the sport apparel, fashion apparel, auto
upholstery, furniture sectors in China and international markets. Come November 2007,
Sino Techfibre will be China’s first and only manufacturer of Pattern Moulding Paper
(PMP) – this will be a proud moment for China and for our Company,” said Mr Li.
PMP is a special paper which creates patterns, textures and special effects on synthetic
leather. Currently, China is the largest consumer of PMP in the world - every year, China
imports approximately 100,000 tonnes of PMP from six producers in the United States,
United Kingdom, Italy and Japan.
Be careful afternoon they will be some force sell
seems like no impact for the losses
oh, profit warning : loss
Following a preliminary assessment of the financial results of the Sino Techfibre Limited (the “Company”) and its subsidiaries (collectively the “Group”) for the second quarter ended 30 June 2009 (“2Q2009”), the Board of Directors of the Company deems it is appropriate to issue a profit guidance in respect of the financial performance of the Group.
Due to the adverse operating environment in PU and Microfibre synthetic leather, the Group is expected to incur a loss in 2Q2009 mainly due to the following reasons:
1) Sale of certain PU synthetic leather (“PU”) products at a lower price
When the businesses of two of our customers, who had ordered customised PU products, closed down. We had to sell the customised PU products at a lower price to other customers. This resulted in a loss being incurred for these customised PU products orders.
2) Demand for lower grades of PU and Microfibre
As the market demand for lower grades of PU and microfibre products persisted in 2Q2009, the Group’s average selling prices for these two products remained weak and declined, despite the increase in the quantity sold as compared to 1Q2009.
Further details of the Group’s performance will be disclosed when the Group announces its 2Q2009 financial results on 14 August 2009.
By Order of the Board
Li Wenheng
Chief Executive Officer
3 August 2009
can... if drop further better
weekee1980 ( Date: 02-May-2009 00:28) Posted:
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This share still can buy in?
Anyone saw the "Profit Warning New" for sinotechfib today?
The price drop from $0.11 to $0.09 (- $0.02) one day on friday.
Will the price still drop till to the new agian on monday.
upload will be 0.10 due to last few contra player
please hold unstill u see 0.30
upload also like that.. im not gg to run yet..
samson ( Date: 15-Apr-2009 22:20) Posted:
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BECARE contra player will unload tomorrow
haha i dun think will double in no time la.. I believe this counter will stuck at 0.15-0.17 for some time b4 moving again. But im very sure given longer time frame sure will double even at the price i bought at 0.11.
Andrew ( Date: 15-Apr-2009 21:51) Posted:
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Good for you.....never too late. So I think you can really double your investment in no time.....good luck good hunting....!!!
freeme ( Date: 15-Apr-2009 18:27) Posted:
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finally move together with all penny stocks.. re-bought at 0.11.. if nothing big happen can keep for few years liao.. last time sell too early, if not double liao..
haha.. bo bian la. i expect them to cheong but didnt, but i still think this one is a potential doubler. Will still buy in.. since nw it stuck at this level, so just cash out n cash in again.
Andrew ( Date: 01-Apr-2009 23:01) Posted:
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WOW finally.......I am beginning to worry about you say....sell at double ??? Aiya.....take the money first....take first talk later.
freeme ( Date: 01-Apr-2009 11:49) Posted:
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sold 0.09
prepare to buy back at 0.08 or below