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I bought at 1.06, I think I will short double or even triple to cover my losses.......
Must ring the CAD for investigation,......my money......gone......
please PUNISH this burger for their lousy management of expectation!
short short short!!!
dump dump dump!!!
Monday will short all the way down to 70cents........SIGN
Broker firm call for buy last few day.......then now anouncement make for PROFIT WARNING......
WHAT THE H........E..........L..........L.........
C.....A.......D.........please investigated.....Other JADE TECH.....tricks......s
AusGroup?s subsidiary, Cactus receives orders booster
New orders for riser telescopic joint, in addition to the initial S$7-10 million contract
New fabrication workshop is on track to commence operations in June 2008, while the machining workshop will commence operations in January 2009
SINGAPORE ? 09 April 2008 ? AusGroup Limited (?AGL? or ?AusGroup? or ?the Group?), an energy and resources service provider is pleased to announce that its Singapore subsidiary, Cactus Engineering & Trading Pte Ltd (?Cactus?) has received additional orders from Aker Kvaerner to build riser telescopic joints (?Telescopic Joint?). This is in addition to the S$7-10 million initial contract secured by Cactus in August 2007.
Telescopic joint is a critical component of the drilling riser string that connects the drilling rig platform to the sea-bed structure. This specialized equipment facilitates vertical movement of a drilling vessel during drilling operations.
In addition, Cactus? production capacity expansion is on schedule with the fabrication workshop on schedule to commence operations in June 2008 while the machining workshop will commence works by January 2009. Both facilities have overhead cranes and have floor areas of more than 4000m2. This represents a production space increase of approximately 70% above the current two properties owned by Cactus. The additional space will bring about addition value-adds that will be developed through efficiency and external assembly areas.
?Our investment plan in Cactus remains on track. We are encouraged by the strong outlook for subsea development projects and the increased capacity of our new Cactus-AGL facility will position the group to capitalize on this growing market.? - Mr John Sheridan, Managing Director of AusGroup
Ausgroup sub receives new order today. Good entry price now as i think it will be push up later.... Queue now
Keep an eye on this. Looks like it's going uptrend from now.
Wow . highest so far was at 1.04 ...
Recovery is on the cards. $1 will form the new support base line. D+ has crossed D- and check out
the other indicators like MACD histogram and stochs and etc. Cheers
UPDATE 1-INTERVIEW-AusGroup sees 35 pct revenue growth for FY'08
By Tan Wei Xin
SINGAPORE, March 27 (Reuters) - Singapore-listed AusGroup (
provides engineering to mining and energy firms, said on Thursday it sees revenue up at
least 35 percent in its 2008 fiscal year and is looking for an acquisition for growth.
AusGroup executive director Stuart Kenny told Reuters the firm sees at least A$380
million ($348 million) in revenue for the fiscal year ending June 2008, as compared to
A$281.1 million last year.
"We have been able to grow and continue to capitalise on the market conditions,"
Kenny said in an interview. Global commodity prices such as oil and gold have hit record
highs but corrected lower in recent weeks, with the Reuters-Jefferies CRB Index <.CRB>
of 19 commodities futures contracts 6 percent off a record hit earlier in March.
When asked about the impact of volatile commodity prices on the Australia-based
firm, Kenny said AusGroup was unaffected by short-term price adjustments while
demand from miners and oil firms for engineering services remained strong.
"The commitments made by major iron ore miners are long term commitments...and
not based on short term adjustments in the markets," Kenny said.
"I don't see any relaxation or reduction in (oil) demand...the commitment to develop
new oil fields is going to remain," Kenny said.
The company is looking at one major acquisition over the next 12 months and is also
looking at joint ventures, he said.
"We'd like to take a big buy now to add some substance to the group...we're looking at
something more substantial than what we've done so far," Kenny said.
"We're exploring opportunities in joint ventures to help us continue to grow and we'll
be able to combine resources to handle larger projects," he said.
AusGroup shares rallied 5.7 percent by 0830 GMT, but remain 51 percent down so far
this year, versus a 13 percent drop in Singapore's broader Straits Times Index (
AusGroup, which has a market cap of $225 million, competes with firms such as
Leighton Holdings Ltd (
Kenny, a sport fishing enthusiast who has won two international championships, also
said AusGroup's new production and storage facility will start operating mid-year in
western Singapore.
The industrial facility in Tuas will become the headquarters of its Singapore subsidiary
Cactus Engineering, which builds and services equipment in the oil and gas industry.
AusGroup bought a controlling stake in Cactus for S$15.3 million in 2006.
Very confident, of growth, more upside to come.
DJ MARKET TALK: AusGroup +7.1%; UOB-KayHian Reiterates Buy
0137 GMT [Dow Jones] AusGroup (5GJ.SG) +7.1% at S$0.825 as recent contract wins boost sentiment, bring out bargain hunters after stock hit 52-week low of S$0.595 last week. UOB-KayHian says outlook underpinned by good order flow for key customers during 1Q08, notes order size for key customers were 3 times larger than usual. Says, "these developments reiterate our view that demand for subsea systems will continue to be fueled not only by strong oil prices, but also the technological shift in the production of oil and gas." Maintains Buy call, S$2.20 target price. Share price rise accompanied by decent volume, suggests stock could continue to rebound in near-term with next resistance tipped at March 12 intraday high of S$0.865. (KIG)
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_97D7ED56FB3D5C0D4825741100134708/$file/AUSGROUP-SECURESAD26MCONTACT.pdf?openelement
Me vested , looking for more up side in the resources related engr support counter. Resources related stock look ok to me, Not an inducement to buy.
Yet another contract in the bag A26MM bring total order book to A180MM.
Getting cheap. Good buy at current 61.5c