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SERVICE OF WRIT OF SUMMONS ON SUBSIDIARY
Further to the announcement made on 29 April 2009 on the service of the Writ of Summons on its wholly-owned subsidiary, Cacola Holdings Limited ("Cacola Holdings"), the Board of Directors of Cacola Furniture International Limited (the "Company") would like to inform that Cacola Holdings had on 15 June 2009 received a copy of the Final Judgment granted by the High Court of The Hong Kong Special Administrative Region in favour of IW Asset Management Limited ("IW Asset") on the payment of an amount of HK$21,379,644.75 together with interest thereon at the rate for of 8% per annum and at judgment rate and fixed costs of HK$11,045.00.
Cacola Holdings has instructed its solicitors to take out an application to set aside the Final Judgment to protect Cacola Holdings from the possibility of being wound up by IW Asset and to defend the same depending on the outcome of the said application
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The Company shall keep shareholders informed and updated on material developments in respect of the above matter.
The Final Judgment against Cacola Holdings is not expected to have any material impact on the Group’s performance in FY2009 and based on the information available to date, the Group will be able to continue as a going concern. The Group has sufficient net current assets to meet its liabilities.
In the meantime, shareholders are advised to exercise caution when dealing in the shares of the Company.
BY ORDER OF THE BOARD
CACOLA FURNITURE INTERNATIONAL LIMITED
The company got RMB 175,413,000.00 cash on hand !! Very tempting to take a risk to enter now at low price !! any opinion ??
this one i ever read that a creditor is asking for $, and a court in HK rule in crediter favor..if u are vested . pls check out fast..and take necessary action..
des_khor ( Date: 01-Jul-2009 11:24) Posted:
Something fishy le... trade lower and lower.... |
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Something fishy le... trade lower and lower....
Tremendous upside potential. The rest of bull run of started, S-chip severely lagging.
Summary: Cacola Furniture International Ltd (Cacola) turned in a disappointing set of 4Q08 results with a net loss of RMB11.4m vs. a profit of RMB28.5m a year ago. Revenue declined 12.5% YoY and 18.0% QoQ to RMB129.9m. For the full year, the group reported a 14.8% slump in earnings to RMB105.0m despite a 16.4% gain in sales to RMB656.9m. No dividends were declared. 4Q08 earnings were tainted by a RMB36.2m bad debt provision, excluding which the group would have managed to remain in the black. We think that the group’s outstanding trade receivables could be threatened by more defaults as more of its specialty shops are expected to fold in 1H09. Cacola trades below its S$0.10/share cash value. However, cash levels may not provide much support to share price as the group’s cash position could deteriorate in FY09. Given the bleak outlook and lack of near term price drivers, we are suspending coverage on the stock. (Lee Wen Ching)
this one in march from ocbc also. hai... all this MFT can't be trusted one lo.... I remember last year when cacola trade around 0.35 they up thier TP to 0.69... now lan lan lo...the mouth kenal stuff liao... haha....
lsj840428 ( Date: 19-May-2009 21:20) Posted:
lol unfortunately it was last yr..........wat about this yr?
des_khor ( Date: 19-May-2009 21:16) Posted:
last year OCBC target price @ 0.69..... |
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OK,
I found it.
You can go to the HOME headers and click Stocks, then click the stocks A......Z
It gives a brief info of the company's outlook and financial info for reference
raymondho ( Date: 19-May-2009 23:32) Posted:
Is anyone has its fundamentel info lately?
Thanks |
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Is anyone has its fundamentel info lately?
Thanks
lol unfortunately it was last yr..........wat about this yr?
des_khor ( Date: 19-May-2009 21:16) Posted:
last year OCBC target price @ 0.69..... |
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last year OCBC target price @ 0.69.....
in fact, if u hold it until recently, think u shld b able to cut some paper loss as recently it had been surged up big time.....need to be careful if u wanted to buy those penny stock...
tsneo888 ( Date: 19-May-2009 06:55) Posted:
Bought some in Feb09 sold during April09 lost some $$$....When the STI"s movin UP this counter only moves a bit nia,,,somedays no trading at all
lsj840428 ( Date: 18-May-2009 21:50) Posted:
wa the future is not really bright ler....but if u got confidence in it...then can decide whether or not to go for it lor
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Bought some in Feb09 sold during April09 lost some $$$....When the STI"s movin UP this counter only moves a bit nia,,,somedays no trading at all
lsj840428 ( Date: 18-May-2009 21:50) Posted:
wa the future is not really bright ler....but if u got confidence in it...then can decide whether or not to go for it lor
lm_clifford ( Date: 18-May-2009 18:18) Posted:
can anyone advise me on this counter.
Thanks alot. |
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wa the future is not really bright ler....but if u got confidence in it...then can decide whether or not to go for it lor
lm_clifford ( Date: 18-May-2009 18:18) Posted:
can anyone advise me on this counter.
Thanks alot. |
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can anyone advise me on this counter.
Thanks alot.