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I didn't notices this counter IPO much, if im not wrong. should be start on 14th FEB. IPO should be 1.25. 1st Day hit 1.9+ then close around 1.6.
Now seem gd as it climb up from the pit
i cannot find the IPO date of this counter, mind to tell me when this is listed? what's the IPO price, and whats the first day closing price? thanks for sharing
Thanks zhuge_liang,
How low u think this potential counter will go, U think it will break $1.00 mark?
The speed it drop i scare the faith heart away, i tink those who sell are really making losses or cut loss as it break NEW LOW.
Hi bulbideal,
Having broken below its IPO price, you could see more selling. I think you should wait first.
I doubt it'll reach Wilmar's price. It's smaller in market cap, has a smaller plantation, smaller area planted and I've not heard of plans to produce biodiesel.
Dear zhuge_liang and SJ members,
Would it mean that this is downtrend is over react?
As such this pricing is a bargain?
Would it chase up to and hit Wilmar current pricing ?
One reason could be negative comments from PPB Chairman. He initially suggested a floor price of 1,500 ringgit per tonne, but then backtracked, saying the price of CPO would fall as production rose. Current price is around 1950 ringgit per tonne. More details in the Wilmar thread.
Another reason could be that selling accelerated when the IPO price of $1.25 broke.
This counter very scary last I see got 1.6+ then 1.4+ then today 1.2+ ?!?!?!
Hi Guys,
Any ideal what happen to this counter?
Seem like food posion..... keep dropping. MORE than 10sen a day???
seems to me although the market is crashing, Indo food is still struggling to go up 1.23 to 1.32 (currently). Give it sometime. Food industry is definately good to invest. =)
need the gurus advice. why this stock suddenly go down so fast if there are no specific news from the co? is this just because of the mkt sentiment? if so, since the co fundamentals are good, can we pick up some more to cost average out? thks.
sohguanh, cityspring's backing not small time player. it's by temasek. heavy weight backing, so obviously cannot compare la. and indofood not exactly "new", i think it's from axis is it?
IndoFood and CitySpring come out ard the same time and what I am seeing is Spore backed stock is more resistant to correction compared to Indonesian stock. Now I know better why some retail investors stay away from Indo stock. I wonder is this generalisation correct?
sohguanh, whether now constipation or now, im glad i have gotten rid of it last week when it was $1.60.
but if like what u say, need to tua lao, then price can move, then let's see how much downwards the price can slide to.
Bad tummy-ache but the sai come out already or not? If sai stuck inside no come out, expect the price to slide further down. The sai muz come out and then the body feel shiok so the price can rise. I believe indofood now is in constipation as in wanna sai but sai cannot come out.
oh no... indofood having bad tummy-ache. now $1.38.
Soyoil down, crude palm oil will also be down.
Indofood is weak; badgered by talks of forced selling.
any impact on this counter with soy price down ?
KUALA LUMPUR, Feb 21 - Malaysian crude palm oil
futures closed 0.8 percent lower on Wednesday, dragged down by
lower prices of rival U.S. soyoil.
The benchmark third-month May contract
Malaysia Derivatives exchange finished down 16 ringgit at 1,925
ringgit ($551) a tonne.
Dealers said higher Malaysian palm oil exports failed to
lift prices as the market had anticipated the increase.
"It is mainly moving on soyoil which has declined," one
dealer said. "Export volumes are moving up but that is something
that is expected."
Other contracts fell between 6 and 17 ringgit <0#KPO:>.
Overall volume stood at 7,284 lots of 25 tonnes each.
The third-month contract rose 2.7 percent last week but it
was off an eight-year high of 2,062 ringgit reached in December
when floods disrupted deliveries.
Exports of Malaysian palm oil products for February 1-20
jumped 8.4 percent to 612,057 tonnes from 564,823 tonnes shipped
between January 1 and 20, cargo surveyor Intertek Testing
Services said.
Another surveyor, Societe Generale de Surveillance, said
exports during the period rose 5.1 percent to 635,215 tonnes
from 604,423 tonnes shipped a month earlier.
Chicago Board of Trade March soyoil
0.22 cent lower at 29.69 cents per lb, with the deferred months
down 0.10 to 0.20 cent as the drop in crude oil weighed on
prices.
Malaysian palm oil usually follows the U.S. soyoil market
because both commodities are used in products ranging from food
and cosmetics to biodiesel.
In Malaysia's physical market, crude palm oil for February
shipment in the central region was quoted at 1,930/1,935 ringgit
per tonne. Trades were done at 1,930 ringgit a tonne.
($1=3.492 ringgit)
unlikely to disappoint due to strong demand for plantation oil, aka Wilmar...
dear jeromesong, it will move up, just a matter of when. for me, i have timing constraint.if momentum is like today, within this week, we will see it past 1.63. so, it's more of when
today, alot of changing hands between $1.53 - $1.55.
thanks teeth53 and zhuge liang. price is moving up now. hopefully above 1.63 soon. still believe the potential of this co.