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lelong... last 500lots @0.02
just load up 50lots to keep.
anyone gt any comment on this counter. all time low price at 0.02.
Unifiber's Q3 net loss deepens
United Fiber System Ltd on Thursday reported net loss for the third quarter ended September 30, 2008 deepen to US$2.35 million compared to US$1.49 million a year ago. Revenue however rose 51.4 per cent to US$27.82 million.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_5A11CB5D858E48FA482575000033A659/$file/Unifiber_Q3_2008.pdf?openelement
Halved in under 1 month on persistent talks of margin selling.
Dealers said that the company's recent announcement on an extension agreement entered into with the Chinese party over the pulp mill financing was making investors edgy.
Who knows whether the agreement will proceed.
any kind souls willing to tell us what is going on with this counter?
something goes really wrong? 0.08 is really low.
DJ United Fiber System Restarted At Buy, S$0.31 Target By DMG
United Fiber said on Wed it is looking to divest its construction unit, making forestry and pulp-making its core business in the next few years to get higher margins.
Unifiber CEO Jaka Prasetya told Reuters in an interview the pulp and forestry business gives up to 50-60% profit margins, compared to the 10% margin from its building unit, Poh Lian Construction (PLC).
"In the medium-term, we'll probably find a new partner for the construction business to take the company to the next level," Prasetya said.
"That can mean spinning-off PLC and make it an independent company from Unifiber, or find a partner for PLC to venture overseas."
In the meantime he said the firm is targeting up to $300 million worth of new building projects this year, adding to a construction order book so far of $560 million.
"The other side of the business needs to pick up first," Prasetya said, adding that the firm's US$900 million pulp mill in Indonesia will only begin operations in 2010.
When asked about the impact of Unifiber's forestry business on the environment in Kalimantan on the island of Borneo, Prasetya said the firm plants its own trees and does not clear existing forests.
"We have the logs we need and we don't need to touch the natural forest," said Prasetya. "So we are confident we won't have any issues," he said.
According to Greenpeace, Indonesia had the fastest pace of deforestation in the world between 2000 and 2005 -- about the size of 300 soccer pitches destroyed every hour.
Two months ago, Staples Inc, the largest U.S. office supplies retailer, cut off business ties with Indonesia's Asia Pulp & Paper (APP), due to concerns that APP's forest-clearing was endangering wildlife.
APP is one of Unifiber's main competitors. Other sector peers include Riau Andalan Pulp and Paper and Taiwan's Chung Hwa Pulp.
Unifiber, with a market cap of US$419 million, owns 269,000 hectares of plantation -- nearly 4x Singapore's land area. At least 50% of the pulp produced from the mill will be exported to China. The mill is a colloboration with a unit of state-owned China Metallurgical Group Corp.
Afternoon open for trading, now trading at 0.275ct...-0.025ct
| Time | Last | Volume | Bid/Ask |
| 14:06:50 | 0.275 | 20,000 | B |
| 14:04:04 | 0.275 | 10,000 | B |
| 14:03:33 | 0.275 | 50,000 | B |
| 14:03:27 | 0.275 | 30,000 | B |
| 14:00:30 | 0.275 | 10,000 | B |
| 13:59:02 | 0.275 | 130,000 | A |
| 12:29:50 | 0.280 | 20,000 | A |
this is a "controlled" counter, do trade carefully. i've tracked this stock for sometime, sold my last 100 lots at 0.30 this morning.
Points I need to think
When China fund going to support with money. More shares issued why not asking China fund to pay first ? Political policy in Indonesia. Past management team records.....
You're welcome hikitty.
Unifiber plans to raise about US$225 million for expansion by selling convertible bonds and shares in its Indonesian unit, a source close to the deal said on Thu. The source, speaking to Reuters on condition of anonymity, said the funds raised would cover 25% of the cost of building a pulp mill in Indonesia. The source did not give details on the convertible bonds issue and share sale.
Unifiber, which does construction and forestry, said in Feb it had entered into an agreement with China MCC20 Construction (MCC20), a unit of state-owned investment firm China Metallurgical Group Corp, to build a US$863 million pulp mill in Indonesia.
But the cost of the mill has increased to US$900 million, due to the euro's appreciation against the US$, as most of the equipment was purchased from Europe, the source said.
Unifiber would obtain the remaining US$675 million from MCC20 in the form of a cash loan to be repaid over 10 years, the source added.
The proposed bleached hardwood kraft pulp mill in South Kalimantan has a production capacity of 600,000 air dry tonnes per year, the company said.
dunno y halt for so long leh... shit man i am holding on to contra shares for fiber... :(
Halted already! Thanks a million zhuge_liang for saying that the contract will be signed this week. Hope his tip(?) comes true. If the halt is to announce that the turnkey contract has been signed, uifiber should break out of its resistance of 0.325cents to break out of its 52week high of 0.345cents, with pulp price shooting upwards. An analyst once suggested that Unifiber would shoot upwards. Instead it has been on a long tortoise crawl, trading downwards and sideways (yawning!!!!) for a few years. Time to move up, baby, to reward its patient investors.
Unifiber surged yesterday as a long held-up billion-dollar pulp-mill project looks set to start taking shape with the expected signing this week of a turnkey contract with a new Chinese partner.
Since end-Feb, the counter has been on an upward trajectory on the back of record order books for its wholly owned subsidiary Poh Lian Construction. The unit saw a 58% surge in its order books to $550m after winning a $202m building contract from UOL, which was expected to contribute positively to group revenue this year.
Unifiber and China MCC20 Construction Co Ltd have targeted to execute the engineering, procurement and construction contract and the supplier's credit agreement before Fri this week.
Resistance is around $0.325 to $0.335.
yup..the lees can't be trusted.. another mediaring fiasco perhaps? trade with caution..
another mediaring don't get trap....
Besides Lee Pineapple purchases, I think another reason could be high pulp prices.
Today top volume, now 0.285 leh !
Lee Pineapple has been accumulating Unifiber. Look at SGX announcements. Lee Pineapple had also been buying Mediaring. But it hasn't done much to its price. There are problems at Unifiber's Indonesian side which has not been resolved for years. So my advice is to trade with caution.