Post Reply
1021-1040 of 11116
Guess no one know.
hmphie ( Date: 06-Oct-2013 19:43) Posted:
I think should ask which one would be played up again tomorrow :p
Bigmama ( Date: 06-Oct-2013 18:54) Posted:
| Which of the 3 are better company? I am thinking of buy some. |
|
|
|
trade with care...
I think should ask which one would be played up again tomorrow :p
Bigmama ( Date: 06-Oct-2013 18:54) Posted:
| Which of the 3 are better company? I am thinking of buy some. |
|
the dust is not yet settled! soon it may go down to 2.1 - 2.2 cents soon.
just a reminder to everyone not to be overly bearish when shares plunge, when suddenly all the fear, negative news and Speculations reappear, nor overly euphoric when shares soar, when suddenly all the good news appear. for ipco, so long as there's no wrongdoing, edward still keeps his LT position here (even if he recently sold his ST one), it keeps growing its oil and gas industries in china and property in US, retains good profits from innopac and blumont, and keeps within its NAV, it should logically recover. even if blumont falls to 20 cents, it is still extremely profitable with the rights issue. all the bad things have already been said, so here's a more balanced view.
This may come true tomorrow!
Bigmama ( Date: 06-Oct-2013 10:49) Posted:
Remembering the day that Ipco spike. Everyone think the next day will 100% hit 5 cents. But it open and drift down.
Now, everyone think 100% ipco will break down to 2.3-2.4 on monday and even 2 cent soon.... It may surprise everyone again by closing up. |
|
After suffering internal injuries, the players will shiam these counters for a while, plus the debt ceiling coming, who is in a hurry to buy or even cover back. The syndicates of these stks more relax as thy have front run every 1 at higher price. Thy will just play the fraction cents range at the lower end to churn comms the next few weeks.
Which of the 3 are better company? I am thinking of buy some.
Wow.... Is that good news? It means no illegal stuff by the 3 company management and also ipco management.
If no illegal stuff by the 3 company.... I wonder lion gold or Asiason is a good buy at these price ?
at least it's a relief to penny buyers as it means no prolonged suspension and investigation to set everyone on edge, and not much fear of innopac or others being suspended. also the quick lift of suspension may suggest the companies are clean themselves, but pumped and dumped by syndicates having a wild time manipulating low cap stocks, which is not hard to do at all. anyway good luck to traders of the 3 stocks tomorrow. note that blumont fell on low volume and innopac director bought at 7.5 cents last friday.
Never mention in sgx filing. So...I won't assume la. Trade carefully.
Rosesyrup ( Date: 06-Oct-2013 18:39) Posted:
Investigation completed in 2 days. Can I assume that no major wrong doing is found?
hmphie ( Date: 06-Oct-2013 18:31) Posted:
| Tmrw morning Blumont resume trading as designated stock. Can see show at 9am liao. |
|
|
|
Investigation completed in 2 days. Can I assume that no
major wrong doing is found?
hmphie ( Date: 06-Oct-2013 18:31) Posted:
| Tmrw morning Blumont resume trading as designated stock. Can see show at 9am liao. |
|
Tmrw morning Blumont resume trading as designated stock. Can see show at 9am liao.
*until the time is ripe
actually no controlling shareholder sell into the open market unless in small quantities. any case it's obvious that if ipco sells there will not be enough buyers and it will crash the stock. there is always tacit agreement between main shareholders and the company to not sell unit the time is ripe. take for instance hankore. first tree offloaded its shares at the same time another invester came in to carry the baby. such tacit agreements cannot be labelled conspiracy.
Think of the big picture. It came as a bigger conspiracy than u think.
Some of the companies acted as capital funding for stock controlling, some as distractions, and some as assets acquisitions, etc
Ipco is definitely not floating more blumont stocks onto the market.
Bigmama ( Date: 06-Oct-2013 16:41) Posted:
Err... Because management are either very stupid or dead greedy thinking in 2 months time a little blumont would be bigger tha SIA.
Oasis8 ( Date: 06-Oct-2013 15:44) Posted:
| why not selling the Blu share when price is high vs loan at high interest rate? |
|
|
|
| | | Reuters Code: | IPCO.SI | | Company: | IPCO International Limited | | Slug: | If Innopac writes down investment, why won't IPCO? |
| | | Date of Report: | 05/10/2013 | | Producer: | Ashish Saxena | | | |
|
|
| |
| |
Innopac makes sensational disclosure about its 25% stake in Grand Prosper, and says it's been sitting idle for more than a year with no hope of recovery. Then why is 75% owner IPCO still hanging on?
5/3/2013 ? The onus is on IPCO International now to clarify its investment in Grand Prosper Group Ltd, after Grand Prosper's 25% owner, Innopac Holdings Ltd, has made some sensational disclosures to the Singapore Exchange.
This story was first published on April 4, 2013.
Innopac said it had written off its S$1.4 mln investment in the company, saying " In the Company?s view, the lengthy and convoluted processes to obtain more than 10 approvals from various other local authorities, such as civil defense bureau, city planning bureau, and quality inspection bureau in addition to the permits adds to future uncertainties. Though Grand Prosper and Deshi are cautiously optimistic that the Permits would be renewed, the Company has taken a conservative stance and impaired its investment in Grand Prosper" .
Innopac was replying to an SGX query, but its words are even more significant for shareholders of IPCO International, which owns the other 75% of Grand Prosper, via its wholly owned subsidiary Excellent Empire Ltd.
The reason for Grand Prosper's impairment has to do with its 90% stake in Deshi Oil and Gas Exploration Co Ltd.
According to Innopac?s reply to SGX: In December 2010, Deshi received permits from the public utility bureau to build and operate two CNG stations in Dezhou City, Shandong Province.
Further, Deshi planned to commence the construction of one CNG station in the second half of 2011.
But none of Deshi?s proposed station sites met the local authority?s approval criteria, reveals Innopac.
Subsequently, the permits lapsed in December 2011.
Deshi has already applied for the renewal of the permits but without success.
Investor Central. We ask the questions that need to be asked
 1. Why did it keep shareholders in the dark for so long?
Since we do not have anything to doubt the integrity of Innopac's MD & CEO Wong Chin Yong, we will take his reply to the query from SGX at face value.
According to that reply, Deshi?s permits for constructing two CNG fuel stations in Dezhou city expired in December 2011.
Therefore we just cannot understand why IPCO did not inform the market about such a meaningful development and decided to sit on it for more than a year.
2. Will it write off its S$17 mln investment in Grand Prosper?
Innopac's decision to write off its investment in Grand Prosper now puts the spotlight on IPCO International: will it follow suit?
In December 2007, IPCO?s wholly-owned subsidiary bought a 55% stake in Grand Prosper for US$9.5 mln (or S$13.8 mln at exchange rates at the time).
From the very beginning, Grand Prosper?s only business/asset was its 90% stake in Deshi Oil and Gas Exploration Co Ltd.
In June 2010, IPCO bought another 20% stake in Grand Prosper for S$3 mln.
So that makes an investment of S$16.8 mln for 75% stake in Grand Prosper.
Innopac has already lost hope of receiving renewal from the authorities and therefore, written off its entire investment in Grand Prosper.
Logically, IPCO should follow Innopac. At least on the principle of conservatism.
Therefore will IPCO bite the bullet and write off its entire investment in Grand Prosper?
If not, what reason does it have to believe that Grand Prosper will be back in business soon?
3. Is it really rocket science to get approvals from authorities?
Innopac says Deshi planned to launch first of its two CNG stations in the second half of 2011.
But none of Deshi?s proposed station sites met the local authority?s approval criteria.
Let's think about this: how could they win licenses to set up CNG stations and then not meet the requirements?
What shortcomings did authorities point out in the sites proposed by Deshi?
How many sites did Deshi propose which the authorities rejected?
4. Was the second CNG station never on the cards?
Innopac says Deshi planned to set up first of its two licensed CNG stations in second half of 2011.
But then when did it plan to set up the second station, as the licenses were due to expire in December 2011?
5. Was Deshi just trying its luck with the authorities?
Innopac blames ?the lengthy and convoluted processes to obtain more than 10 approvals from various other local authorities, such as civil defense bureau, city planning bureau, and quality inspection bureau in addition to the permits adds to future uncertainties?.
Wasn't Deshi aware of the regulatory processes before it stepped into the business?
And if it always knew the regulatory hurdles, was it just trying its luck at the expense of shareholders of Innopac and IPCO?
6. Is it time to be realistic rather than tout optimism?
Innopac clearly says it's being conservative, even as Grand Prosper and Deshi continue to be ?cautiously optimistic? that permits will be renewed.
After sitting idle for more than a year, investors of IPCO would question the optimism of its subsidiaries.
And if indeed there is a ray of hope, they would love to hear the reasons from management.
7. Why did IPCO not act even as Deshi shifted its focus?
We are still searching for replies to the questions raised in our earlier report titled Why sell investments for shares, not cash? (December 27, 2012).
Among other questions in that story, we had highlighted how Deshi?s business changed dramatically after IPCO bought its stake in 2007.
In 2007, Grand Prosper Group owned 90% of a joint venture called Deshi Oil and Gas Exploration Co Ltd, which had a contract with Shengli - a subsidiary of Sinopec - for the exploration, exploitation and production of oil and natural gas in the Ciyaobao and Dongdaoliangzi areas of the Ningxia Autonomous Region in China.
The contract was valid until 2026.
Unfortunately, we did not hear anything from IPCO on the developments from Ciyaobao area ever since the acquisition (at least, none that we could find going through the SGX announcements).
Suddenly, in 2011, Innopac bought the remaining 25% stake in Grand Prosper because it believed ?its investment in the CNG fuel station business in Dezhou, Shandong will contribute positively in the coming years?.
Wait a minute!
Wasn't Grand Prosper set up to benefit from exploration, exploitation and production of oil and natural gas in the Ciyaobao and Dongdaoliangzi area of the Ningxia Autonomous Region in China?
When did that change?
We have sent these questions to the company to invite them for an on-camera interview, and/or seek their written response.
Sofar, we have not had a reply (which is why you are seeing this message). Source: Investor Central |
|
Thanks and appreciate your views
saviola8 ( Date: 06-Oct-2013 16:44) Posted:
| It depends on their intention when they bought it I suppose. If they were looking at this blumont profit & realising it, it may have gotten into trouble. Those ppl involved are trading in their own names n not under ipco.. well if blumont really end up problem, ipco the most lose a section of branch rather than the whole tree gone.. just my personal views. |
|
It depends on their intention when they bought it I suppose. If they were looking at this blumont profit & realising it, it may have gotten into trouble. Those ppl involved are trading in their own names n not under ipco.. well if blumont really end up problem, ipco the most lose a section of branch rather than the whole tree gone.. just my personal views.
Err... Because management are either very stupid or dead greedy thinking in 2 months time a little blumont would be bigger tha SIA.
Oasis8 ( Date: 06-Oct-2013 15:44) Posted:
| why not selling the Blu share when price is high vs loan at high interest rate? |
|
