I think recent run up is mainly due to US markets up and also palm futures up due to forecasted heavy rains in malaysia and flooding. Plantation stocks should continue to run up in the coming months if 'the rainy weather holds'. So for traders can sell since it hit top end of bollinger band, for longs there is still some value left in this stock.
"DISCLAIMER:- This announcement was prepared and issued by the below mentioned listed issuer to the Exchange. The Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement and is posting this announcement on SGXNET for the sole purpose of dissemination only. In the event of any queries or clarification required in respect of any matters arising from this announcement, such queries are to be made to the listed issuer directly and not to the Exchange. The Exchange shall not be liable for any losses or damages howsoever arising as a result of the circulation, publication and dissemination of this announcement."
Name of Announcer *
GOLDEN AGRI-RESOURCES LTD
Company Registration No.
UF 24045G
Announcement submitted on behalf of
GOLDEN AGRI-RESOURCES LTD
Announcement is submitted with respect to *
GOLDEN AGRI-RESOURCES LTD
Announcement is submitted by *
Kimberley Lye Chor Mei
Designation *
Senior Manager
Date & Time of Broadcast
20-Nov-2009 07:38:53
Announcement No.
00006
>> ANNOUNCEMENT DETAILS
The details of the announcement start here ...
Announcement Title *
Investment Opportunity
Description
The Board of Directors of Golden Agri-Resources Ltd ("GAR" or the "Company") wishes to issue this announcement with reference to recent media articles on the Company's plans to invest in Liberia.
The Company continually explores sound investment opportunities worldwide to expand its businesses, both upstream and downstream. GAR appreciates the investment opportunities in Liberia and the prospect of utilizing our expertise to pioneer the large scale cultivation of oil palm plantations and related downstream activities in Liberia.
The Company is in the process of actively evaluating this investment opportunity, and will make the appropriate announcement(s) as and when this investment opportunity advances.