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Li Heng Chemical (LHCF SP; S$0.21; Buy) – A breakout above the recent high of S$0.23 could see prices climb higher to try to close the gap at S$0.26.
Source: CIMB
Make love more, don't make more enemies
There's plenty of money to be made! ...
This counter looks like a superb short candidate from now till the coming weeks...
( Today's price =.24 )
Very attractive...
Li Heng got a very quarterly report.
Profit up 485% , revenue up 20%.but price still go down so much!
very funny market, should it rebounce?
http://info.sgx.com/webcorannc.nsf/AnnouncementLast3Months/8233CCC45315EE0D48257722003161D8?opendocument#
CHINA'S anti-dumping tariffs on imported polyamide chips have hit Singapore-listed chemical fibre company Li Heng Chemical Fibre Technologies. Imported polyamide chips are a major raw material in its nylon yarn production.
Li Heng said yesterday that it has since mitigated this impact of potentially higher costs by ramping up its in-house production of polyamide chips and minimising procurement from the US, which has been slapped with the highest tariff rates.
Its spokeswoman told BT yesterday that the tariff rates have just been announced and have not been factored into the operating costs yet. It is unable to ascertain the financial impact at this point.
The Ministry of Commerce of the People's Republic of China had on April 21 announced that China will impose anti-dumping tariffs on polyamide chips imported from the US, the European Union, Russia and Taiwan at rates ranging from 4 per cent to 96.5 per cent for a period of five years from April 22.
All polyamide chips used by Li Heng are sourced from the US, the EU or Taiwan. This exposes the company to risks of higher raw material costs.
Other Chinese chemical fibre producers such as China Gaoxian and C&G Industrial Holdings produce other types of chemical fibres and source their raw materials within China and are therefore not affected by China's trade move.
Li Heng said that it has commenced in-house production of polyamide chips since October last year from facilities that are equipped with a maximum annual capacity of 70,000 tonnes.
'We have achieved optimisation of our polyamide chip facilities' production capacity in April 2010 which will enable us to reduce the reliance on imported polyamide chips and mitigate the impact of an increase in cost of production brought by the anti-dumping tariffs,' the group said.
'We expect self-produced polyamide chips may be sufficient to support as much as 55 per cent of our total production needs for the year ending Dec 31, 2010.'
Since October last year, Li Heng has also made arrangements with its suppliers to minimise the procurement of polyamide chips originating from the US, which now accounts for less than 5 per cent of the group's imported polyamide chips.
melchamp ( Date: 04-May-2010 17:06) Posted:
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Anyone can advise what hppen to Li Heng?? Kena shot down today...
Share buy back?? Chiong ah!!
CD liao, finally
still not above 30?
Does anyone know the exact dividend payout date? A bit impatient with this counter liao.
Thanks in advance for the answer.
O, thks.
Cos the '09 financial statement and dividend announcement were made in feb but now almost april still din see CD!
wat's up????????????
wait til u c a CD beside the stock name
1c dividend, i did not receive anything.
When will the dividend be credited?
Pls enlighten. Thanks
so hot today
As long as "BUY", it is always a good time.
MsPetite ( Date: 02-Mar-2010 14:12) Posted:
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where isnt the dual listing coming here???
they should do a normal HK dual listing like the others, why try something funny.
why no delisting? it will help it go to 42