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One article in Zaoboa, which may serve as a reference. Similar situation may applies to Foreland Fabrictech.
http://www.zaobao.com.sg/cninvest/pages5...719a.shtml
Summary of key messages:
Addidas closed its last factory in China, due to raising production cost in China. Production will shift to cheaper ASEAN country. Cost of production worker in China is around 3k RMB, vs cost of 828 RMB in cheaper country in ASEAN
Other major branded producer will follow suit, including Nike, Clarks, K-Swiss, Bakers etc.
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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Foreland has been featured under Asia's 200 Best Under A Billion by Forbes Asia. The listing is at:
http://www.forbes.com/companies/foreland...-holdings/
"You are right not because the world agrees or disagrees with you, rather you are right because your facts & reasoning are right."
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Such rankings are typically being done via key metrics screening.
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10-08-2012, 05:33 PM
(This post was last modified: 10-08-2012, 05:34 PM by shn.)
Looks like support is formed at $0.051.
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Results have just been released. Was it expected that NPAT would fall?
(Not Vested)
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There was a business update on 17 Jul that stated that the Group expected to report a significantly lower net profit for 2Q 2012 than that of 2Q 2011; so, the result is not a surpize. It is probably better than most sellers have anticipated.
I bought not because of the fundamental but technical - just 100 lots for trading (fun).
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I do not understand why they say that there was no dividend declared for 2Q11. They had declared a dividend of RMB0.027 for that period.
I am not very sure of what is the point of increasing the cash hoard so greatly without paying any dividends to shareholders...
I could understand their deciding to stop dividend payments if they had some major capex on hand. But I don't see any such thing happening in the near future...
(14-08-2012, 06:48 PM)dydx Wrote: 2Q result just out and I think it makes very interesting reading.....
http://info.sgx.com/webcoranncatth.nsf/V...A00138369/$file/2012Q2resultannouncement.pdf?openelement
2Q's revenue fell a massive 38% yoy to RMB 126.5m, but surprisingly Foreland still managed to post a PBT of RMB 21.4m - equivalent to a very respectable 16.9% PBT Margin on Revenue. And the profits and associated positive FCF - after accounting for a smallish capex of only RMB 127k in 1H - have added to Net Cash Reserve, which has increased by RMB 79.6m in 1H, to RMB 307.7m - equivalent to RMB0.567/share, or approx. $0.113/share - as at 30Jun12. And this is after accounting for a $0.00297/share Final dividend payment for FY11 made on 8May12, amounting to RMB 7.96m.
Considering the very volatile textile market conditions in PRC in the last few months, I think Mr Tsoi Kin Chit, as Executive Chairman, has proven himself like a 'superman' manager for Foreland's business!
"You are right not because the world agrees or disagrees with you, rather you are right because your facts & reasoning are right."
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