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I saw today got volume!
A stirling result from Sunshine !
The group has reverse their loss in the FY2008 to almost RMB $200million profit in FY2009.
1.(a)(i) An income statement (for the Group), for the year ended 31 December 2009 together with a comparative statement for the corresponding year of the immediate preceding financial year
Unaudited income statements of the Group for the year ended 31 December 2008 and 31 December 2009 .
The Group |
FY 2009 |
FY 2008 |
% |
RMB’000 |
RMB’000 |
Change |
Revenue |
324,403 |
205,794 |
57.6 |
Cost of sales |
(284,488) |
(175,309) |
62.3 |
Gross (loss)/profit |
39,915 |
30,485 |
30.9 |
Other operating (expense)/income, net |
(12,105) |
156,160 |
N/M |
Impairment loss on: |
Properties under development
|
(39,163) |
(116,951) |
(66.5) |
Available-for-sale Investments |
(6,655) |
(56,640) |
(88.3) |
Completed properties for sale
|
(11,760) |
- |
N/M |
Change in fair value of
investment properties |
(29,358) |
(132,534) |
(77.8) |
Gain on final settlement of bank
borrowings |
295,268 |
- |
N/M |
Gain on final settlement of
convertible bond |
99,657 |
- |
N/M |
General and administrative expenses |
(75,548) |
(89,994) |
(16.1) |
Selling and distribution expenses |
(23,004) |
(16,846) |
36.6 |
Finance income/(costs) |
(44,897) |
(98,284) |
(54.3) |
Profit/(loss) before tax |
192,350 |
(324,604) |
N/M |
Income tax credit |
4,500 |
13,380 |
(66.4) |
Profit/(loss) for the year |
196,850 |
(311,224) |
N/M |
Today Big brother Yanlord also moving....
Looks like Sunshine will be looking good...hoped it will break thru' $0.10 soon...
Moving now....tracing uptrend....watch out !
Sorry for the late reply, I have not been to this forum for some time. I think whether to buy or sell will depends on the value of the stock, company performance and ones' risk appettite.
At current price which is still below its NAV, Sunshine is definitely still attractive stock to accumulate. Sunshine had recently restructured and made full payment of their debts, and this will greatly reduce the interest incurred from their loans and gearing ratio. Now, it will be interesting to see if they will be releasing a much improved result......
He's waiting for the same ans leh..bro hor?
bro, everywhere u ask the same question leh...
Hulumas ( Date: 08-Feb-2010 19:16) Posted:
What you recommend...... BUY? HOLD? SELL?
bluetoes ( Date: 08-Feb-2010 00:26) Posted:
Wow...this gem has gone up steadily against all odds...
The number of buyer consistently exceeds the number of seller....good sign. |
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What you recommend...... BUY? HOLD? SELL?
bluetoes ( Date: 08-Feb-2010 00:26) Posted:
Wow...this gem has gone up steadily against all odds...
The number of buyer consistently exceeds the number of seller....good sign. |
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Wow...this gem has gone up steadily against all odds...
The number of buyer consistently exceeds the number of seller....good sign.
Time to accumulate again...
This gem is already big discount of its NAV per share....once there are positive news sure will cheong again...
There's a gap at $0.65, after fill up hope it will move again....
Anyone willing to share your comments on the technical chart of Sunshine? What is the support level now?
China's tropical island province of Hainan is to be developed into a top international tourism resort by 2020, under ambitious plans announced this week by the State Council, or central government's cabinet. The development of an international tourist destination will surely bring about enormous infrastructure construction, so relevant infrastructure construction enterprises with real estate development as their main business will also be the first to benefit from the plan in the initial development period.
According to some reports, after the release of this plan last week there are already billions of dollars moving forwards Hainan and pushing up the property price over there. Based on Sunshine's Q309 report, they have a big piece of land pending to develop in Hainan and will surely benefit from this latest plan.
Let's hope to see if there will be any further good news....
This babe is holding strong at $0.085, with the strong sentiments on S stock and the low share price....hoped it can move forward to break $0.10 soon...
Current share price is still way below its NAV...
Today gone up to a high of $0.095 and close at $0.090.
The NTA significantly increased 61.5%, current share price only reflected an increase of 38%.... hoped it will keep going and breakout $0.10 soon...
Wow...price has moved significantly today....
Compared with Yanlord which is another property stock, the share price is around 2x of the NTA price. Sunshine is only 0.4x for their current NTA....still have significant room for upside. Anyone to share your view on this?
Hi Bro, you may find the company announcement in SGX website.
www.sgx.com
Great!!! Bro, where u get the news?
I vested some..
FULL SETTLEMENT OF:
Unless otherwise stated, all capitalized terms herein shall have the same
meanings as that ascribed in the announcement made by Sunshine Holdings
Limited (the “Company”) on 23 September 2009 (the “Announcement”)
Reference is made to the Announcement and the announcements made by the
Company on 24 September 2009, 28 September 2009 and 14 November 2009.
The Board of Directors of the Company is pleased to announce that the Group has fully
settled its obligations of US$75.6 million due to the Lenders under the FA Settlement
Agreement and US$17.68 million due to the Convertible Bond Holder under the CB
Settlement Agreement (the “Settlement”). The Settlement was completed fully in cash,
without invoking the Proposed Share Issue and undertaking by the Sponsor.
Consequence to the Settlement:
(a) the Group shall be completely and unconditionally discharged and released from
all obligations and claims under and relating to (i) the Finance Documents (in
respect of the US$120 million syndicated loan due to the Lenders); (ii) the Bond
Documents (in respect of the US$32 million convertible bond due to the
Convertible Bond Holder); and (iii) all security interests granted thereunder
(collectively, the “Discharge and Release”); and
(b) each Stark Party shall immediately withdraw and/or discontinue the Existing
Winding-Up Proceedings (the “Withdrawal/Discontinuance”).
The Company will keep the Shareholders further updated once the Discharge and
Release a well as the Withdrawal/Discontinuance have been completed.
Based on the audited accounts of the Group for the financial year ended 31 December
2008 and taking into account the net gain on disposal of certain assets of the Group
(as part of the Asset Monetisation Program under the Disposal Mandate granted by the
2
Shareholders on 20 November 2009), the Settlement, which will result in the write-off
of liabilities due to the Lenders and the Convertible Bond Holder, is expected to:
(a) significantly reverse the loss-making position of the Group from a loss per share
of about S$0.069 per share to an earning per share of about S$0.022 per share;
(b) significantly increase the net tangible asset of the Group by about 61.5% from
about S$0.13 per share to about S$0.21 per share; and
(c) significantly improve the gearing of the Group by about 76.7% from about 2.70
times to 0.63 times.
By Order of the Board
Mr Guo Yinghui
Chairman
4 January 2010
(i) US$120 MILLION SYNDICATED LOAN; AND
(ii) US$32 MILLION CONVERTIBLE BOND
Hi AK_Francis,
Thanks for the information.
Today the volume increased sharply, how should we interpret this raise in interest from the market?
The Co had just repaid all their debts and should be re-valued with their current NTA per share...which is S$0.14....the current share price of S$0.065 is far too low and should still have a big discount right? Anyone to share?
GOOD NEWS....finally Sunshine has declared fully out of debts and not only repaid all debts....they have significantly improved their position from loss making per share to an earning per share of S$0.022 per share. With this, their NTA of the group has increase significantly by 61.5% to S$0.21 per share....and gearing is a low of 0.63 times.
