First Resources    Last:1.5    -0.01

First Resources

(-_-")....considering that citi is one of those selling this baby.....

long term is downtrend. See MACD, bar chart, momentum, RSI. The pic is clear. Selling has been consistent since 26 feb.

short term, yea, you may get a bit of a tech rebound; but that's just mathematical, and the intraday volatility of this counter. not for newbies.

caveat applies.

 

BT:  Citi said that it was keeping its "buy" call on the stock with $2.20  target, as it believes the probability of the assets actually being auctioned is low and advised investors to "exploit this disconnect".

 

 

 

updates, http://www.freewebs.com/henryhts

Be caution.

 

With DOW in bright red on Friday, dead worried that Monday Singapore market kaput..

 

holding 20lot @1.16.... hope to sell off at 1.17

 

Wow!  consider lucky today.  Bought 10 lot to average down and then realized the news of corruption in Indo? Contra off at 1.12...  Lucky trading not halted...

 

Father owes garment Fine 33M, garment seize son's company asset worth 550M.  Father don't even owe a single share of the company.  Son don't even own 100% of the company.

This type of no-brainer thing also cannot do it in a proper manner. In this type of environment the stock can go hero-to-zero, overnight!!!

Would you want to invest your money in this country ?

Never vested in company with major asset based in indonesia.

 

if DOW continues south tonight, does it means this counter would continues south due to shorting?

 

What is the support level of this counter?

 

It should stabilise next week.

 

will this trend continue for the next few trading days?

 

well..pure lucky this time leh...anyway...licking my wounds on several others SHORT still !! hee...

then again...more SHORTs will make it RIGHT ! :D

SGX is one of them...hee...and KEPCORP potentially..next ! :D

 

Not only you are an expert in shorting. Now you are an expert in contra. Good for you.

 

hee...contra on this 20x 88cts let go at 1.10 just now...hee....

so gd if these happs again...ea$y $$$ :D

 

well, corr is very common there, uncommon if they don't. price really cheong, 113, 114 liao... 

 

Shorting in progress, make your decision wisely.

 

aya..any stocks listed here that has main business in Indonesia which corruption is like daily sh.itting that you are doing everyday......THIS KIND OF NON-SENSE ARE exPECTED wan leh :P

that's why SHORTISTS can survive what ?!?! else how we gonna make a living ? ..hee..juz kidding :D

gee...wonder who is the genius that start SHORTING SGX so heavily these few days...??

:D

 

First Resources , dropped as much as 43% to an all-time low of $0.80 after the firm said Indonesia's corruption commission would auction 3 of its plantation and milling assets. This relates to a court case involving one of the firm's founders, and the assets to be auctioned are owned by the firm's subsidiaries.

First Resources said in a statement it has appointed legal counsel to challenge such an action.

 

May have another round of sell off to near 0.80 before climbing up again. So be cautious.

 

Wah.. 3mths oni, like that liao liao. Can bring good or bad luck to Wilmar or not?. Corruption !!!

BACKGROUND The Company was incorporated in Singapore on 9 December 2004. First Resources Limited is one of the largest private sector producers of crude palm oil in Indonesia. Its primary business activities are cultivating oil palms, harvesting the fresh fruit bunches from those trees and processing crude palm oil and palm kernel which it sells in Indonesia and internationally. All of the Group's operations and assets, consisting primarily of 13 oil palm plantations and six palm oil mills, are located in Riau province, Sumatra, Indonesia. The Group?s business areas are: i) Cultivation The Group purchases most of its seed requirements from Dami Oil Palm Research Station (?DOPR?), a seed producer in Papua New Guinea. It operates an efficient best-practice fertilization system of its trees, using inorganic fertilizers as well as re-using by-products from our mills as fertilizer substitutes. ii) Harvesting The Group harvests the fresh fruit bunches of the oil palm trees only when an appropriate quantity of fruit become detached from the fresh fruit bunches, indicating peak ripeness. The ripeness of fresh fruit bunches harvested is critical in maximizing the quality and quantity of palm oil extraction. iii) Crude palm oil and palm kernel processing The Group?s primarily produces crude palm oil and palm kernel at its 6 palm oil mills located adjacent to its plantations, allowing us to both reduce our transport costs and maintain the quality of our crude palm oil. It has an aggregate processing capacity of 345 tons of fresh fruit bunches per hour or approximately 2.07 million tons of fresh fruit bunches per year. The Group?s oil palm plantations has grown significantly since its started the operations in 1992. As of 30 June 2007, the Group has 80,526 hectares under cultivation and 72.2 percent of its cultivated land comprised mature oil palm trees. As of 31 July 31 2007, its owned a total landbank of 184,280 hectares.

Sources from ses.com.sg
Information Last updated on 03/07/2008 07:01:16 AM