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Abterra triggered an inverted hammer formation (at bottom) and tested 1.17 3 times over the week. it could potentially have found bottom at 1.17 and rebound from there. Invest with caution though as the downtrend is still intact.
http://sgsharemarket.com/home/2011/04/abterra-ltd-poised-for-technical-rebound/
Use your money to buy better shares. It has already issued a profit warning earlier.
bsiong ( Date: 17-Mar-2011 09:29) Posted:
Abterra Ltd announced that Tianjin Kaitemei Trading Co. Ltd, a wholly owned subsidiary of the company, has on 16 March 2011 entered into a conditional sale and purchase agreement with Shenzhen Manfu Industrial Co., Ltd for the proposed acquisition of an additional 55.22% of the equity interest of Zuoquan Xinrui Metallurgy Mine Co. Ltd. Tianjin Kaitemei will acquire from Shenzhen Manfu, a 55.22% of the equity interest of Xinrui at an initial purchase price of RMB883,520,000, subject to any adjustments.
/sgx
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Abterra Ltd announced that Tianjin Kaitemei Trading Co. Ltd, a wholly owned subsidiary of the company, has on 16 March 2011 entered into a conditional sale and purchase agreement with Shenzhen Manfu Industrial Co., Ltd for the proposed acquisition of an additional 55.22% of the equity interest of Zuoquan Xinrui Metallurgy Mine Co. Ltd. Tianjin Kaitemei will acquire from Shenzhen Manfu, a 55.22% of the equity interest of Xinrui at an initial purchase price of RMB883,520,000, subject to any adjustments.
/sgx
This dreaded thing has happened most untimely. Those who sold are smart as it is likely to begin falling to < $1.00 or pre-consolidation equivalent of 4 cents. Jao ah, boo jao would get caught.
renzokun ( Date: 27-Feb-2011 20:01) Posted:
|
PROFIT GUIDANCE FOR FINANCIAL YEAR ENDED 31 DECEMBER 2010
The Board of Directors of Abterra Ltd. (the “Group”) considers it appropriate to provide guidance
on the Group’s unaudited financial results for the financial year ended 31 December 2010
(" FY2010" ).
Following the preliminary review of the Group’s unaudited FY2010 financial results, the Board of
Directors would like to advise that the Group will be reporting a loss for FY2010, which was
attributed mainly to the following:
1. A one-off recognition of approximately S$11.194 million negative goodwill recognised in
3QFY2010 which was subsequently reversed in 4QFY2010 due to the latest draft
estimates by valuation specialists on the purchase of the Max Harvest Group and
2. Higher operating expenses largely caused by impairment loss of property, plant and
equipment, impairment of intangible assets as well as foreign exchange losses
Further details will be disclosed when the Group announces its unaudited financial results for
FY2010, which is expected to be on 28 February 2011.
BY ORDER OF THE BOARD
Lau Yu
Director and Chief Executive Officer
27 February 2011 |
|
PROFIT GUIDANCE FOR FINANCIAL YEAR ENDED 31 DECEMBER 2010
The Board of Directors of Abterra Ltd. (the “Group”) considers it appropriate to provide guidance
on the Group’s unaudited financial results for the financial year ended 31 December 2010
(" FY2010" ).
Following the preliminary review of the Group’s unaudited FY2010 financial results, the Board of
Directors would like to advise that the Group will be reporting a loss for FY2010, which was
attributed mainly to the following:
1. A one-off recognition of approximately S$11.194 million negative goodwill recognised in
3QFY2010 which was subsequently reversed in 4QFY2010 due to the latest draft
estimates by valuation specialists on the purchase of the Max Harvest Group and
2. Higher operating expenses largely caused by impairment loss of property, plant and
equipment, impairment of intangible assets as well as foreign exchange losses
Further details will be disclosed when the Group announces its unaudited financial results for
FY2010, which is expected to be on 28 February 2011.
BY ORDER OF THE BOARD
Lau Yu
Director and Chief Executive Officer
27 February 2011
KPMG found to have acted in conflict of interest
Big Four firm was both Abterra Ltd’s scheme administrator and sole liquidator for shareholder’s claimant
ESTHER NG
estherng@mediacorp.com.sg
SINGAPORE
But accounting firm KPMG also acted as the sole liquidator of Tan Holdings Private Limited (THPL), which had made a $4.4-million claim against Abterra’s then majority shareholder Prosperity Steel (Asia).
Last month, the High Court found the accounting giant had “acted in conflict in their roles” as Abterra’s scheme administrator and as liquidator of THPL and ordered KPMG to be removed.
The Court appointed Deloitte & Touche Financial Services as Abterra’s new scheme administrators.
Abterra, formerly known as Hua Kok International, had entered into a Strategic Subscription and New Business Agreement on Aug 30, 2004.
The agreement was that the company would receive a large capital injection by Prosperity in the form of share subscriptions that would make it the new majority shareholder of the company, with a stake of 70 per cent.
Abterra’s creditors were to receive shares in the company once their claims had crystallised.
In a document to the court, Abterra general manager John Baey said that as KPMG executive director Bob Yap had already been appointed as sole liquidator of THPL when the accounting firm acted as Abterra’s scheme administrator, it “would have already been in an apparent position of conflict once THPL claims an interest in the shares of the company through Prosperity”.
Mr Yap countered that THPL’s claim against Prosperity came either from “public information or from information in THPL’s liquidator’s possession” and that Abterra “(had) always been aware of (his) appointment as liquidator to THPL”.
But the court agreed with Abterra, which was representedby lawyer Chia Boon Teck.
— As the scheme administrator, it was supposed to protect the interests of its client, Abterra Limited, a coal and iron ore trading company, from its creditors.
I think most short-term players have sold out oredi. See there is not much retail selling in this counter.
To reach $1.65 can be next year if minerals and coke prices are upping.
i sold before it consolidated the shares, only incur the transaction fee, money still intact. knew that Abterra is not a good stock.
for those who hold, maybe see how is the market this coming october..
sigh.... now i read... too late... got my shares for .065 a loooooooong time ago... then it was changed to X25... so no point in selling... 1.625 but luckily only have 10 lots not convert not even 1 lot :( ahh.... noob is noob
Directors/
Shareholders
selling
Sep 21/10
|
Sep 13/10
|
|
GENERAL NICE DEVELOPMENT LIMITED
|
# Others
|
-2,017,391,443 |
Not Filed |
39.82 %  |
| Sep 21/10 |
Sep 13/10 |
|
TSOI MING CHI |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 21/10 |
Sep 13/10 |
|
VANTAGE REGION INTERNATIONAL LIMITED |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 21/10 |
Sep 13/10 |
|
CAI SUI XIN |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 21/10 |
Sep 13/10 |
|
GENERAL NICE RESOURCES (HONG KONG) LIMITED |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 08/10 |
Sep 07/10 |
|
LAU YU |
Sales in Open Market at Own Discretion |
-200,000 |
$1.260 SGD |
0.00 % |
| Sep 08/10 |
Sep 06/10 |
|
LAU YU |
Open Market Purchase |
5,000,000 |
$0.040 SGD |
0.09 %  |
| Sep 16/10 |
Sep 03/10 |
|
MAHESKUMAR S/O SHANTILAL PURSHOTAM MEHTA |
Sales in Open Market at Own Discretion |
-1,100,000 |
$0.040 SGD |
0.00 % |
|
| Sep 21/10 |
Sep 13/10 |
 |
GENERAL NICE DEVELOPMENT LIMITED |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 21/10 |
Sep 13/10 |
|
TSOI MING CHI |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 21/10 |
Sep 13/10 |
|
VANTAGE REGION INTERNATIONAL LIMITED |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 21/10 |
Sep 13/10 |
 |
CAI SUI XIN |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 21/10 |
Sep 13/10 |
|
GENERAL NICE RESOURCES (HONG KONG) LIMITED |
# Others |
-2,017,391,443 |
Not Filed |
39.82 % |
| Sep 08/10 |
Sep 07/10 |
|
LAU YU |
Sales in Open Market at Own Discretion |
-200,000 |
$1.260 SGD |
0.00 % |
| Sep 08/10 |
Sep 06/10 |
 |
LAU YU |
Open Market Purchase |
5,000,000 |
$0.040 SGD |
0.09 % |
| Sep 16/10 |
Sep 03/10 |
|
MAHESKUMAR S/O SHANTILAL PURSHOTAM MEHTA |
Sales in Open Market at Own Discretion |
-1,100,000 |
$0.040 SGD |
0.00 % |
|
|
Sep 21/10
|
Sep 13/10
|
|
GENERAL NICE DEVELOPMENT LIMITED
|
# Others
|
-2,017,391,443
|
|
Sep 21/10
|
Sep 13/10
|
|
TSOI MING CHI
|
# Others
|
-2,017,391,443
|
|
Sep 21/10
|
Sep 13/10
|
|
VANTAGE REGION INTERNATIONAL LIMITED
|
# Others
|
-2,017,391,443
|
|
Sep 21/10
|
Sep 13/10
|
|
CAI SUI XIN
|
# Others
|
-2,017,391,443
|
|
Sep 21/10
|
Sep 13/10
|
|
GENERAL NICE RESOURCES (HONG KONG) LIMITED
|
# Others
|
-2,017,391,443
|
|
Sep 08/10
|
Sep 07/10
|
|
LAU YU
|
Sales in Open Market at Own Discretion
|
-200,000
|
|
Sep 08/10
|
Sep 06/10
|
|
LAU YU
|
Open Market Purchase
|
5,000,000
|
|
Sep 16/10
|
Sep 03/10
|
|
MAHESKUMAR S/O SHANTILAL PURSHOTAM MEHTA
|
Sales in Open Market at Own Discretion
|
-1,100,000
|
|
|
|
|
|
|
After Consolidation i think will fall...even if i don't hold any of this stock.... Good for shorting. To me where got company stock dealing with metal trading past $1++ . Like HG metal,Lianghuat, Albedo all few cents worth... As for coke business, do u think it is better than Straits Asia.For Abterra to trade to $2.75??? Wait long long will also never happen i rather take Straits Asia.... :)
Changed my views on Abterra. Good price to sell all your stocks and wait for below 90 cents. to buy back. I heard the major shareholders are not good in the coke business. Likely to fall below 82 cents as one analyst told me. Don't know how far it is true, but I sold all shares already.
Just to say, yeah this baby will fly to the unexpected. Remember 2007, many investors and the big boss (GC) subscribed for the shares at then 11 cents, and that is 11X25=$2.75. Unless average bought these two years, every subscriber's old cost is $2.75. So they are still not quite finished pushing yet. Maybe we ask ourselves is $2.75 reacheable? Who knows?
ABTERRA LTD.
(Incorporated in the Republic of Singapore)
(Company Registration No. 199903007C)
(“Company”)
(1) ISSUE OF PLACEMENT SHARES PURSUANT TO SUPPLEMENTED EQUITY LINE
FACILITY AGREEMENT
(2) LISTING AND QUOTATION OF PLACEMENT SHARES
(3) USE OF NET PROCEEDS
Where capitalised terms are used in this announcement and not otherwise defined, such terms
shall bear the same meaning as ascribed to them in the Company’s announcements on 17
February 2010, 23 February 2010, 8 March 2010, 3 May 2010, 1 June 2010 and 2 June 2010 in
relation to the Supplemented ELF Agreement and Loan Note Subscription Agreement.
The board of directors ( “Board”) refers to the announcements released by the Company on the
SGXNet on 17 February 2010, 23 February 2010, 8 March 2010, 3 May 2010 and 1 June 2010 in
relation to the Supplemented ELF Agreement.
The Board wishes to announce that, pursuant to an Advance Notice (as defined in the
Supplemented ELF Agreement) dated 17 September 2010, the Purchaser has made available
the advance amount of S$1,940,000 (after deduction of the 3% commission payable to the
Purchaser under the Supplemented ELF Agreement) to the Company. Pursuant to the
Supplemented ELF Agreement, the Company has on 21 September 2010 allotted and issued
1,707,651 Placement Shares to the Purchaser at the Purchase Price of $1.1712 per Placement
Share. The Placement Shares are expected to be listed and quoted on the Mainboard of the
Singapore Exchange Securities Trading Limited with effect from 9.00 am on 23 September 2010.
Pursuant to the above, the share capital of the Company has increased from
S$208,854,525.8009 to S$210,854,526.6521 comprising 212,793,570 ordinary shares.
The Placement Shares will rank parri passu in all respects with the existing ordinary shares of the
Company.
The SGX-ST’s AIP is not an indication of the merits of the Supplemented ELF Agreement, the
issue of the Advance Shares, the Advance Shares, the Company and/or its subsidiaries.
Use of Net Proceeds for Placement made on 26 July 2010
The Board wishes to provide the following update on the usage of the net proceeds from the
Placement made and announced on SGXNet by the Company on 26 July 2010 under the
Supplemented ELF Agreement, as follows:
Placement made on 26 July 2010 S$
Net proceeds as of 26 July 2010 1,000,000
Usage:
Repayment of Series A Equity Backed
Loan Note
(1,000,000)
Balance -
The use of net proceeds of the Placement is in accordance with the stated use set out in the
announcements released by the Company on the SGXNet on 17 February 2010 and 3 May 2010
in relation to the Supplemented ELF Agreement, ie. for general corporate and working capital
purposes. The Board will continue to provide announcements on the utilisation of the usage of
the net proceeds from the Placement as and when the proceeds are materially disbursed.
Interest of Directors, Controlling Shareholders and Substantial Shareholderss
Save as disclosed above, none of the Directors, controlling shareholders or substantial
shareholders of the Company has an interest, direct or indirect, in the above transaction.
Issued by Abterra Ltd.
Lau Yu
Director and Chief Executive Officer
21 September 2010
Think the price of $1.50 is a mistake:
When business kicked off at 9am, this trade was not made at 6.5 cents but instead 82 cents; however, when it was completed, the damage had been done. The seller, realising his mistake, scrambled to quickly cover his position, which in a market where the number of shares was now reduced by a factor of 25, sparked off a run that sent the stock rocketing just past $1.50. More details here:
http://www.businesstimes.com.sg/sub/companies/story/0,4574,403565,00.html?
Don't anyhow sell this stock. Remember it is a mining stock (semi or fully in the category). A mining will give you very high returns as this type of stock is in great demand. Can give unexpected windfalls.
Based on past pricing, it can shoot past the $1.50 easily.
Thank you. But i don think i will sell since i hold it for that long(almost 1.5 years). Huat huat Huat !!!! No S$2 No Sell !!!!
you have to do 2 separate transnaction.......10 lot....in the 1000 per lot...and 2 lot in the 10 share per lot........and pay to 2 cost of selling....also price for 10 share per always lower leh.......( or some time they call the odd lot counter) if not sure cx with your brokage house to comfirm again....
Flyordie ( Date: 10-Sep-2010 23:11) Posted:
| how to sell 10.2 lots after price consolidated? |
|
Hope for it to up up to the sky again on Monday. Namo Namo Up Ah.........
how to sell 10.2 lots after price consolidated?
