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ivory coast issused settled, GMG will tml! All news are positive to GMG anticipating a run in tml prices!
Rubber in Tokyo Climbs as China, India Demand Exceeds Supply
April 22 (Bloomberg) -- Rubber climbed on concerns that demand from China and India may outpace supply during the low- production season in Southeast Asia.
The September-delivery contract advanced as much as 3.1 percent to 425 yen per kilogram ($5,185 a metric ton) and settled at 419 yen on the Tokyo Commodity Exchange. Futures declined 3.7 percent this week, the second straight fall.
“Rubber demand from China and India is still high, while supply remains low in the short term,” said Masahiro Tamagawa, senior manager at H.S. Futures Co. Prices are in so-called backwardation, when nearby contracts are more expensive than long-term ones, he said.
Consumption in China, the largest buyer, is expected to grow by 6 percent this year to 3.5 million tons, the Kuala Lumpur-based Association of Natural Rubber Producing Countries said in a March report. India’s demand may rise 5 percent to 991,000 tons, it said.
Michelin & Cie., the world’s second-largest tire maker, said first-quarter revenue rose 28 percent 5.05 billion euros ($7.36 billion), led by surging demand for speciality tires to equip construction equipment and agricultural vehicles.
Thai output may decline from last year if rains that caused floods persist, according to the Thai Rubber Association. Production may be 3.2 million tons this year, Luckchai Kittipol, president of the group, said April 21. That compares with last year’s 3.25 million tons and an earlier 2011 target of 3.49 million tons.
Thai Output
“Inventories in China remain low and Chinese buyers may soon step in to buy the commodity,” Sureerat Kunthongjun, an analyst at Agrow Enterprise Ltd., said by phone from Bangkok. “Some investors took this as a cue to buy.”
Unseasonal rains from the start of this year in Thailand caused floods in 10 southern provinces in March that may have damaged about 50,000 rai (19,641 acres) of rubber plantations, according to the Department of Disaster Prevention & Mitigation. Water levels have since receded, it said.
Farmers in Thailand, Indonesia and Malaysia reduce tapping during so-called wintering, from February to May, when trees shed leaves and latex production drops, according to the Association of Natural Rubber Producing Countries.
The physical price of Thai rubber was unchanged at 177.05 baht ($5.90) per kilogram today, according to the Rubber Research Institute of Thailand.
Rubber for September delivery in Shanghai advanced as much as 2 percent to 35,195 yuan ($5,408) a ton before closing at 34,780 yuan.
Bridgestone Corp. plans to suspend some production lines and limit operating hours at factories serviced by Tokyo Electric Power Co. to save power during Japan’s summer.
The tire maker will shift some production to other regions to cut power use by 25 percent between July and September, according to a statement on its website.
To contact the reporter on this story: Supunnabul Suwannakij in Bangkok at ssuwannakij@bloomberg.net
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
sooo monday maybe runnin running n runnin runnin? but book closure date comin soon.
james87 ( Date: 22-Apr-2011 11:41) Posted:
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So..in general, the result still consider reasonably good right? since despite the ivory coast issue, company still managed to generate revenue....on top of that...with dividend. All pointing to the fact that company is making money. In addition, with the ivory issue resolved, one would expect the revenue to go up with resuming operations. Hopefully price will upz on monday.
Report out is not nice. IT IS OUTSTANDING ! Revenue up 242%, nett profit (attributable to shareholders) up 145%. New Thailand acquisition immediately contributed to turnover and profit line. This is even with higher OPEX, but higher OPEX is mainly due to higher volume from gain in sales. Suspect highe expense also may have been caused by new Thailand operation which may have not fully benefitted from the integration into the whole GMG business.
With rubber demand expected to go even higher, this is a very good sign. Please see extract below:-
GMG delivers 241.8% yoy revenue growth to S$282.8 million for 1Q11
HIGHLIGHTS:
Revenue surged 241.8% Y-o-Y to S$282.8m in 1Q11 from S$82.7m in 1Q10
Net profit for 1Q11 grew to S$15.5m from S$6.3m in 1Q10
Group maintains healthy balance sheet with cash balance of S$114.9m
Group remains positive on the fundamentals and longer term prospects of natural rubber
yummygd ( Date: 21-Apr-2011 21:47) Posted:
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so report seems nice... doesn't it? but unfortunately its earnings are very much affected by usd n euro.
Technically, GMG is on sideway toward downtrend pattern. Unless there is any surprise in financial report or picked up by Big Players, GMG is more likely to continue its sideway or downtrend. just my 2 cents
http://pick-the-winning-stock.blogspot.com/
queueing for .28 grrrr.. cannot get! WTH
Look at GoldenAgrii and IndoAgri and FirstResources, all down cos palm oil down.
GMG is lucky not to go down!
Ya lor.. Why ah????? Wait until hair also turn white oledy!...
james87 ( Date: 15-Apr-2011 15:53) Posted:
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Ivory coast issue settled. Why this counter still lagging...pls chiong soon....
Careful, issue has dragged for too long. Now that market has quieted down, looks more like distribution... better to pick up later.
Ivory C. problem resolved. Now shd. move on...
Cheers.
wa.. so soon.. moving...
Election not here yet leh..
nevermind..
cheong ahhh...
Price been nicely steady around to .28-.29 region.
Good position to gain momentum :)
Ivory Coast situation looks like being resolved soon. Possibly today. This may lead to a bounce for this counter.
GuavaXF30 ( Date: 06-Apr-2011 10:39) Posted:
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Hope so. I do like the GMG business model and I think it is a well-run company.
kaoluck ( Date: 06-Apr-2011 10:05) Posted:
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GMG has contributions to the local community .. from govt point of view rubber is the life line moving forward as many farmers moved from cocoa to rubber.
kaoluck ( Date: 06-Apr-2011 10:05) Posted:
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Generally, should be ok.
The new govt. needs jobs to feed its people.
If not, it will be heading out the door very soon.
Anyway, I work in the MENA region. The Singapore brand is well respected here.
Still uncertain though. Don't know how new regime will behave. Will GMG be looked on as a Gbabo supporter and be punished ? Remember GMG deals signed with previous Gov.
kaoluck ( Date: 05-Apr-2011 17:01) Posted:
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