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Catalist go mainboard fun?
Really? I encounter a stock from 0.005 combine 10 to 1 so suppose to be 0.05 but insetad went down to 0.015.
I guess it is the stock statistic, and I went in to check seem ok, the NAV and EPS looks good. So anyone can tell me when it will happen?
that all depends how much per share is though.
warrenbegger ( Date: 07-Jan-2011 10:56) Posted:
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100 shares / 20 = 5. So if i had 500 lots, it become 25 lots. With lesser shares and upgrading to mainboard soon, it wont become penny stock and it will cause many to get intrested. This company struck at penny price 2cent for too long, now they going to do something about it and u will see their action soon. Maybe i should buy some and hold first. From catalist to mainboard means something good coming, and with lesser shares means stock will be more liquid and chance to go up will be higher.
yummygd ( Date: 07-Jan-2011 10:27) Posted:
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upgrade to mainboard n shareconslidation is gd..
this stock will be more liquid
ozone2002 ( Date: 10-Dec-2010 16:30) Posted:
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Share consolidation? When was it announced earlier? So surprised!
NOTICE OF EXTRAORDINARY GENERAL MEETING
NOTICE IS HEREBY GIVEN
(the “
on 31 January 2011 at 11.00 a.m. for the purpose of considering and if thought fit, passing with or without
modifications, the following resolutions:-
that an Extraordinary General Meeting of Sapphire Corporation LimitedCompany”) will be held at 123 Genting Lane, #07-01 Yenom Industrial Building, Singapore 349574SPECIAL RESOLUTION 1: APPROVAL FOR THE PROPOSED TRANSFER OF THE COMPANY
FROM THE SGX CATALIST TO THE SGX MAIN BOARD
1.1 That approval be and is hereby given for the Company to be transferred from the SGX Catalist to
the SGX Main Board, and any of the directors of the Company (the “
authorised to do all such acts as may be necessary or expedient in order to give full effect to this
resolution.
Directors”) be and is herebyORDINARY RESOLUTION 2: APPROVAL FOR THE PROPOSED SHARE CONSOLIDATION
2.1 That approval be and is hereby given for:-
(a) the consolidation (the “
Shares held by the Shareholders in the capital of the Company as at the Books Closure Date
into one (1) Consolidated Share each (the “
Closure Date;
(b) any fraction of a Consolidated Share which may arise from the Proposed Share Consolidation
pursuant to paragraph (a) above shall be disregarded; and
(c) the Directors be authorised to determine the Books Closure Date; and
2.2 That the Directors and each of them be and are fully authorised to take any and all steps, and to
do and/or procure to be done any and all acts and things, and to approve, sign and execute any
documents which they in their absolute discretion consider to be necessary, desirable, expedient
or appropriate to effect and implement this resolution and to exercise such discretion in connection
with, relating to or arising from the Proposed Share Consolidation and/or the matters contemplated
herein, with such modifications thereto (if any) as they or he may from time to time consider
necessary, expedient and/or appropriate in order to implement, finalise and give full effect to the
Proposed Share Consolidation.
By Order of the Board
Proposed Share Consolidation”) of every twenty (20) ordinaryConsolidated Share”) with effect from the BooksMr Teo Cheng Kwee
Chief Executive Officer
7 January 2011
With prices of steel set to rise further and Sapphire's Special Steel having their own coking facility,
I find no reason for this counter not to move.
My feeling is that you won't need to wait long. Although the sell queue is large but it could be "artificially created".
Another counter which I like is Contel. Two weeks ago, I bought at 0.04...now it is already 0.045/0.05
The strategy is to park some in here and in the meanwhile get into some excitement with the top volume/gainers counters.
francisd ( Date: 06-Jan-2011 17:14) Posted:
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Yeah I agree. Waiting for this counter to move from last year.
Need some BB's to move this counter up 10 times.
Awaiting. Vested.
Cheers.
Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years in Australia’s Queensland state disrupted output from the world’s biggest shipper of the fuel.
Prices may increase to between $270 and $300 a metric ton, analysts from Macquarie Group Ltd., Morgan Stanley and Daiwa Capital Markets said. Steelmills agreed to pay $225 a ton for the three months starting Jan. 1, Bank of America Merrill Lynch analysts said last month.
“Queensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis,” Alex Tonks, a commodity strategist at Bank of America Merrill Lynch in Sydney, said by telephone. “A lot of operations have been impacted. It certainly looks pretty bad at this stage.”
Rain in the Australian state has inundated an area the size of France and Germany, prompting BHP Billiton Ltd. and Rio Tinto Group to declare force majeure, a legal clause that allows mines to miss deliveries. About 37 percent of the world’s traded coking coal is affected, according to Macquarie. Queensland floods in 2008 left steel producers, including Japan’s Nippon Steel Corp. and JFE Holdings Inc., with a threefold increase in annual contract prices to about $300 a ton.
Australian free-on-board prices may climb to $270 a ton for three-month contracts starting April 1 as the floods threaten to take as much as 10 million tons of metallurgical coal out of the market, said Colin Hamilton, a London-based Macquarie analyst.
$300 a Ton
Morgan Stanley said coking coal prices may surge to $292.50, and Daiwa Capital analyst David Brennan said they may jump to $300. Free on board is a term indicating that delivery at the seller’s expense is included in the invoice price.
Canadian producers rose yesterday as investors bet they will benefit from output disruptions and increased prices. Grande Cache Coal Corp. gained 3.2 percent to C$11.34, while Teck Resources Ltd. climbed as much as 0.6 percent before settling 0.2 percent higher at $63.06. Canada was the fourth- largest coking coal exporter in 2009, according to the World Coal Association.
In Sydney, Macarthur Coal Ltd., the world’s biggest producer of pulverized coal for steelmakers, advanced 63 cents, or 5 percent, to A$13.28 today amid prospects for higher prices. Gloucester Coal Ltd. added 21 cents, or 1.7 percent, to A$12.27.
Flooding is also affecting thermal coal, used by power stations, driving the price of supplies at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, to the most in 27 months. Prices jumped 3 percent to $126.10 a ton in the week ended Dec. 31, the most since Oct. 2008, according to IHS McCloskey, a Petersfield, U.K.-based provider of coal data.
‘Price Spike’
Coking coal suppliers traditionally held annual talks with steelmakers to fix benchmark contracts for the 12 months from April 1, the start of the Japanese financial year. BHP has urged the industry to move to short-term deals to make prices more responsive to market changes. It agreed with JFE Holdings to the first three-month accord in March last year.
Steelmakers may agree to monthly pricing for coking coal, as proposed by BHP, in a “price spike environment” rather than locking in $300 a ton for a whole quarter, Macquarie said in an e-mailed research note Jan. 4.
“We’re moving away from that quarterly contract pricing,” Daiwa’s Brennan said from Melbourne. “I can see that BHP wants to go to monthly. When I say $300 a ton that would be for one month in April for example, but not for the three months.”
‘Blue-Sky Scenario’
There will be a “material impact” on Australian exports of coking coal, even if no further rain falls, Morgan Stanley Melbourne-based analysts Peter Richardson and Joel Crane wrote in a report yesterday. The cumulative loss of production is expected to maintain upward pressure on spot prices for several weeks to come, they said.
Coal stockpiles at Gladstone harbor in Queensland are “very low” after flooding shut a rail network, said Craig Walker, acting chief executive officer of Gladstone Ports Corp. Eighteen ships are waiting to load and 12 more are expected at the harbor in the next 10 days, he said.
“The flooding will provide further upside to international coal prices and a floor to Chinese prices,” Helen Lau, an analyst at UOB-Kay Hian Ltd., said by telephone from Hong Kong. “It’ll easily take six to eight weeks, in a blue-sky scenario, before Australian supplies return to normal. Maybe it’ll take three to four months.”
Tata Steel Ltd. said it increased purchases in December in preparation for the adverse weather. The Mumbai-based company, India’s biggest producer of steel, ensured it had sufficient supplies, Managing Director H.M. Nerurkar said Jan. 4 by phone.
Deadly Floods
JSW Steel Ltd., India’s third-biggest producer, also imported a higher quantity of coking coal in December in anticipation of the rains in Australia, from where it gets the bulk of its supplies, Chief Executive Officer Vinod Nowal said in a Jan. 4 interview from Mumbai.
About 98 million tons of capacity to produce steelmaking coal is under force majeure, equivalent to 73 percent of Queensland exports, Macquarie said. The floods have resulted in 10 deaths and the displacement of about 200,000 people in Queensland, according to the state police.
Australia had its third-wettest year on record during 2010, according to the Bureau of Meteorology, which says showers and storms will continue across Queensland into next week.
China Steel Corp.’s costs for coal increased by $10 million because of the flooding, Executive Vice President Chung Le-min said Jan. 4 from Kaohsiung, Taiwan. Taiwan’s biggest maker of the metal bought spot coal from Russia and Canada because some Australian suppliers were unable to make deliveries, he said.
Steel Demand
Global steel demand is forecast to reach a record 1.34 billion tons in 2011, the World Steel Association said in October. The biggest producers are in China, which account for about 45 percent of the world’s production. Australia shipped 259 million tons of coal for steel and power in 2009, the World Coal Association said on its website.
Australia is the largest producer of coal used in steelmaking, contributing more than 40 percent of the global seaborne trade, according to Deutsche Bank AG. The country is the second-largest exporter of the commodity after Indonesia.
To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net
To contact the editor responsible for this story: Clyde Russell at crussell7@bloomberg.net
waves88 ( Date: 28-Dec-2010 11:27) Posted:
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Hulumas ( Date: 15-Dec-2010 09:59) Posted:
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From the KimEng Report.
Integrated value chain, complex corporate structure. Sapphire has interests in iron ore mines, a coke plant and steel plants, forming an integrated value chain. But there are a lot of indirect holdings. Its core subsidiary, Special Steel, is held through Lucky Art Holdings, while its stakes in Neijiang Bowei Fuel & Chemical Co. and Weiyuan Steel Co. are held through SPVs.
Investment in vanadium project. Its associate Weiyuan obtained approval to expand annual production capacity of vanadium‐enhanced steel from 2.5m tons to 4.65m tons. The expansion plan was budgeted at RMB5.6b, out of which US$40m convertible loan was secured from Sapphire to Prime Empire Holdings (PEL), Weiyuan’s holding company. Sapphire also extended US$37m exchangeable loans to PEL’s other shareholders to settle their outstanding loans. These loans give Sapphire the opportunity to increase its stake in Weiyuan at potentially better terms.
Essentially buying into steel consumption story in China. Sapphire is essentially a play on China’s growing appetite for steel with an exposure to the use of vanadium for producing higer quality steel.
Earnings are volatile. This is due to one‐off gains and differences in the consolidation of subsidiaries. Valuation‐wise, Sapphire is trading at 1.2x P/B, which appears undervalued given that many China steel companies typically trade at an average of above 2.0x P/B.