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I got the hint from the SGX announcement:
Pursuant to Clause 704(11) of the Listing Manual, the Company wishes to announce that at the close of the financial year ended 31 March 2007, none of the persons occupying managerial positions were related to a director or substantial shareholder of the Company
Jasper sitting on ~20million cash with no debts. They are also into construction business (on a relatively small scale). Hopefully, someone will write a story about this stock and the price will shoot up big time.... Business Times?? Remember SMB united?
Dear yiewkhong,
Did you say that result will be out soon? When will it be? Where is your source for this info?
I am vested in this also. Just check the chart and I trust my intuition it is alright.
Loaded more! becos result coming soon!
I should think so since Jasper and Digiland are both CPF trustee stocks.
Huh! gahmen allow CPF money to buy 2 cents counter meh??
Hahaha....I didn't buy Digiland either.
I thought Digiland's fundamental is not good and refused to touch it, but who knows it can cheong so much....
But Jasper also not bad already lah. Especially for those who bought around 2 cts or lower, now at 2.5cts it is already a gain of 25%
Ha Ha,
Yiewkhong - wise decision, but slow and steady.
Wadrian - high risk, but if kenna chun chun, better than striking the big sweep. Btw, did you punt on Digiland during the last 2 weeks? Could have made at least 250% in a matter of 5 days. I wanted to (throw S$200k into it), but no guts lah. Now can only regret.
Well said, brother!
Will continue to load up when I got spare cash!
Cheers
Yes, but cerebos wouldn't give a me the large capital gain I am looking for.
I did the same with Lantrovision 1.5 year back. I bought 2 million Lantro shares at 2 cts and then got 1 million rights at 2 cts. Most of my friends thought I was crazy to buy a 2 cts stock.... After patiently waiting for 1.5 years, I sold off 2000 lots of Lantro shares along the way as it went up starting from 6 cts, 8 cts and 12 cts as it went up. I have since made $100+K of profit from Lantrovision alone and still have 1 million now (betting on it going up further as I have already recovered my cost + more)... At 12 cts, the gain is 500% over my cost of 2cts in 1.5 years. Much better than any dividend can give me.
I am willing to wait 2 years for Jasper to go up. Of course, i will sell along the way as it moves up - maybe some at 3 cts, 4 cts etc...
Sounds crazy, right? :)
Actually , I do not invest into a lot of counters but prefer to invest in a more focused way. If I find something with good fundamentals and very cheap, I am willing to put more into it....
Hi Wadrian,
I salute you! 6,000 x 0.02c = $120,000 cash/CPF for penny stock!
If I got $120,000 cash/CPF, I will only used $20,000 for Jasper Investment and the rest of $100,000 to buy good dividend yield stock e.g. Cerebos which it gives at least $250 every lots every year.
My personal opinion only.
Cheers
Hi wadrian,
Thanks for the info. Will monitor for a while more.
Hi I_tan888,
Jasper is still alive and kicking in the construction business:
1) Resource Piling brought in $13.3million of revenues for 1H2006 (30 Sep 2006) and still working on more piling contracts.
2) ECI - Their pre-cast building slabs business is also triving. Half year Revenue increased to $9.8 milion from $8m a year ago.
Jasper has a coal concession in indonesia which they are selling for > $7million for a nice one-off extraordinary gain.
Jasper is sitting nicely on $26 million cash and cash equivalent as of 30 Sep 2006 which they are reserving for new acquisitions.
All in all, Jasper has already been restructured since the Econ days. At 2.5cts and positive NAV and a recently traded price of 3.5cts in January 2007, this is indeed a good company to invest in for long term.
That's the reason why I have 6 million Jasper shares sitting in my portfolio since the 2cts days....
Hi bro,
No problem. You are welcome to board the ship anytime. All the best!
Cheers
Hi yiewkhong,
Thanks for your reply. My usual purchase of a counter is at least $10k (or more in most cases). Otherwise, it's not worth the brokerage's commission and charges. Anyway, in view of the present consolidation and/or the anticipated correction (ie. sell in May and go away attitude), I shall take a wait and see attitude first.
Hi,
Don't worry lah! not asking you to chase penny stock with high price, negative NAV, high liabilities and massive losses. Just only 0.025c lah!
If you are comfortable then buy some to keep lah! If not comfortable then don't buy lor!
cheers
Hi yiewkhong,
Are you aware of what type of business acquisition and/or business model they are after? If they are no longer in the building and construction line, which was their original Econ International, then how do you feel confident that they will be successful to a change of line?
Currently, Jasper Investment is actively looking for business acquistion and started on a new business model.
After the business acquistion, u think you still can buy at 0.025c.
From SGX site:
On 23 March 2006, the company, following a change in its principal business from building and construction to investment holding, changed its name to Jasper Investments Limited.
This may be the reason why the substantial holders are trimming down their stakes in Jasper. The result of the change in business direction is an unknown factor.