Post Reply
601-620 of 5048
Ausgroup Gone CASE!!!!!!!! The mining companies are lacking of cash, no money to pay to their contractor!!!!!!!!!
0.565 done less than 400lots.....u must have been among the first in the q CHAMPION
Peter_Pan ( Date: 03-May-2013 10:49) Posted:
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When it hit 0.565 on 11 Apr, it is good to take profit.
ace333 ( Date: 03-May-2013 10:46) Posted:
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LOL...u forgot I used to short yr BUYs.....didn't lose my pants
Peter_Pan ( Date: 03-May-2013 10:40) Posted:
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12 apr 2013 with the canning of massive LNG project in WA.....3 stks identified to be CAUTIOUS ausgp civmec and ezion......its like a time bomb...a matter of when....
You must exercise your own discretion. Don't trade blindly.
ace333 ( Date: 03-May-2013 10:37) Posted:
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yr famous saying DONT miss the boat woh......
Peter_Pan ( Date: 28-Mar-2013 13:44) Posted:
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Recent Woodside negative developments and these project issues do not bode well for Ausgroup, dual listing plans look more unlikely now.
Next support at 0.445-0.415...
I had read through the notice and found 2 items that need further elaboration...
- KML has not provided any formal substantiation of either the breaches it relies upon or basis for calling on the performance guarantees or withholding the progress payments
- Furthermore, in the 13 months AGC has performed this contract, KML have not issued any formal show cause notice under the contract.
From the two statements above, it seems the action of the client, KML is baffling. There was no notice or warning in the 13 months of operation and there was no proof or evidence to substantiate their claim of a breach in contract.
There is certainly more than meet the eyes in this dispute. But being a pragmatic person, would not touch this share, either long or short, for the time being until the dust settle.
bad news...
Play this kind of news before final push......
wow...
dropped 5bids today.
wow...
dropped 5bids today.
SGX RELEASE For Immediate Release Company Registration Number 200413014R 36 Tuas Road, Singapore 638505 Singapore and Australia 3 May 2013
Material Event Announcement
The Board of Directors (“Board”) of AusGroup Limited (“Company”) wishes to announce that Karara Mining Limited (a company incorporated in Perth, Western Australia) (“KML”) has withheld progress payments amounting in aggregate to approximately AU$21.7 million (the “Progress Payments”) for structural, mechanical and piping installation works carried out by the Company’s wholly-owned subsidiary, AGC Industries Pty Ltd (“AGC”) at KML’s Karara Iron Ore Project in Western Australia pursuant to a 2012 contract entered into between AGC and KML (“Contract”). Further, KML has provided notice to AGC that KML intends to call on the performance security (“Security”) in the amount of AU$8.8 million in the form of bank guarantees issued by financial institutions, which Security was furnished to KML pursuant to the terms of the Contract. Based on legal advice of AGC’s lawyers, it is AGC’s firm view that the Progress Payments are validly due under the Contract and that KML has not provided a substantiated basis for refusing payment and its intended call on the Security. AGC has also received notification from KML of a claim being prepared against AGC for an un-finalised value. The notification of claim has not been given in accordance with the Contract and KML has not provided any formal substantiation of either the breaches it relies upon or basis for calling on the performance guarantees or withholding the progress payments. Furthermore, in the 13 months AGC has performed this contract, KML have not issued any formal show cause notice under the contract. AGC is actively liaising with KML management to attempt to resolve the current situation either through formal dispute resolution under the contract, or mediation outside the contract. AGC is keeping its bankers informed of these events which may trigger a review event under the company’s banking arrangements. Shareholders of the Company (“Shareholders”) are advised to exercise caution in trading their shares in the Company and the Company will make the necessary announcements when there are any material updates on the above matter. The matter is on-going and Shareholders are advised to read all further announcements by the Company carefully and to consult their stock brokers, bank managers, solicitors or other professional advisors if they have any doubt about the action(s) they should take.
By Order of the Board Laurie Barlow CEO and Managing Director Ends SGX RELEASE For Immediate Release Company Registration Number 200413014R 36 Tuas Road, Singapore 638505 Issued for and on behalf of AusGroup Limited by Financial PR Pte Ltd. For more information, please contact Kathy Zhang/Romil Singh T +65 6438 2990 | F +65 6438 0064 | E Kathy@financialpr.com.sg / romil@financialpr.com.sg For further information in Australia, please contact Roze Maravillas T +61 8 6210 4591 | M +61 439 907 982 | E roze.maravillas@agc-ausgroup.com MAGNUS Investor Relations + Corporate Communication: John Gardner Garry Nickson T: +61 8 9212 0101 / +61 413 355 997 T: +61 2 8999 1004 / +61 414 930 082 E: jgardner@magnus.net.au E: gnickson@magnus.net.au ABOUT AUSGROUP LIMITED (Bloomberg Ticker: AUSG.SP) Main board-listed, AusGroup Limited is an energy and resources specialist providing fabrication, precision machining, construction and integrated services to natural resource development companies. The Company also provides access services for construction and maintenance contracts through MAS Australasia Pty Ltd (MAS). AusGroup has an established operations network strategically positioned throughout Australia, Singapore and Thailand. For more information visit www.agc-ausgroup.com
SGX RELEASE
For Immediate Release
Company Registration Number 200413014R
36 Tuas Road, Singapore 638505
Singapore and Australia
3 May 2013
Material Event Announcement
The Board of Directors (“Board”) of AusGroup Limited (“Company”) wishes to announce that Karara
Mining Limited (a company incorporated in Perth, Western Australia) (“KML”) has withheld progress
payments amounting in aggregate to approximately AU$21.7 million (the “Progress Payments”) for
structural, mechanical and piping installation works carried out by the Company’s wholly-owned
subsidiary, AGC Industries Pty Ltd (“AGC”) at KML’s Karara Iron Ore Project in Western Australia
pursuant to a 2012 contract entered into between AGC and KML (“Contract”).
Further, KML has provided notice to AGC that KML intends to call on the performance security
(“Security”) in the amount of AU$8.8 million in the form of bank guarantees issued by financial
institutions, which Security was furnished to KML pursuant to the terms of the Contract.
Based on legal advice of AGC’s lawyers, it is AGC’s firm view that the Progress Payments are validly
due under the Contract and that KML has not provided a substantiated basis for refusing payment
and its intended call on the Security.
AGC has also received notification from KML of a claim being prepared against AGC for an unfinalised value. The notification of claim has not been given in accordance with the Contract and KML
has not provided any formal substantiation of either the breaches it relies upon or basis for calling on
the performance guarantees or withholding the progress payments. Furthermore, in the 13 months
AGC has performed this contract, KML have not issued any formal show cause notice under the
contract.
AGC is actively liaising with KML management to attempt to resolve the current situation either
through formal dispute resolution under the contract, or mediation outside the contract.
AGC is keeping its bankers informed of these events which may trigger a review event under the
company’s banking arrangements.
Shareholders of the Company (“Shareholders”) are advised to exercise caution in trading their
shares in the Company and the Company will make the necessary announcements when there
are any material updates on the above matter. The matter is on-going and Shareholders are
advised to read all further announcements by the Company carefully and to consult their stock
brokers, bank managers, solicitors or other professional advisors if they have any doubt about
the action(s) they should take.
By Order of the Board
Laurie Barlow
CEO and Managing Director
Ends
I found from: http://www.bloomberg.com/quote/AUSG:SP
D-Day: 09 May 2013 (coming soon!)
Key Statistics for AUSG
| Current P/E Ratio (ttm) | 8.4642 |
|---|---|
| Estimated P/E(06/2013) | - |
| Relative P/E vs. FSSTI | 0.6151 |
| Earnings Per Share (ttm) | 0.0500 |
| Est. EPS (06/2013) | - |
| Est. PEG Ratio | - |
| Market Cap (M SGD) | 257.26 |
| Shares Outstanding (M) | 480.87 |
| 30 Day Average Volume | 7,817,867 |
| Price/Book (mrq) | 1.2091 |
| Price/Sale (ttm) | 0.3029 |
| Dividend Indicated Gross Yield | 1.20% |
| Cash Dividend (SGD) | 0.0064 |
| Last Dividend | 10/31/2012 |
| 5 Year Dividend Growth | 10.39% |
| Next Earnings Announcement | 05/09/2013 |
smallsgshare ( Date: 02-May-2013 15:22) Posted:
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Do you know the exact date of earning report?
flatfoot ( Date: 02-May-2013 11:32) Posted:
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535 all makan up..
3 million done so far
Time: 10:47AM
Exchange: SGX
Stock: AusGroup(5GJ)
Signal: Bullish MACD Crossover
Last Done: $0.535
Exchange: SGX
Stock: AusGroup(5GJ)
Signal: Bullish MACD Crossover
Last Done: $0.535
It comes on days
where volume are low... and easier for BBs to buy up
where volume are low... and easier for BBs to buy up
When the news come remain a question ?