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Results are out..
this company is making $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
check sgx annoucement
woah s'pore buyer..power..
its jus a matte of time for it to rebound
melchamp ( Date: 09-Feb-2010 21:57) Posted:
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any comment?? looks good...
China New Town Development Company says the auction of land use rights of two residential land parcels located at its Wuxi Hongshan Project has been completed.
The buyer is Wuxi-Singapore Real Estate Development Co. from Singapore.
The 53,769 sqm and 65,911 sqm land parcels were sold at about RMB 108 million ($22.5 million) and 136 million respectively which are equivalent to RMB 2,009 psm. and RMB 2,063 psm respectively.
The last achieved price for a residential land parcel from the Wuxi Hongshan Project was RMB 1,500 in October 2009. The land sale is expected to contribute revenue of RMB 203 million.
China New Town Development first undertook the development of the Wuxi Hongshan Project in 2007, through a joint venture (JV) agreement with Wuxi New District Municipal Investment and Development Company.
Under the agreement, a JV company — Wuxi Hongshan New Town Development Co. — was established to undertake the development of the new town project. China New Town Development holds 90% stake in the Wuxi JV company, while Wuxi New District Municipal Investment and Development Company holds the remaining 10%. The JV is for a period of 50 years.
Under the deal, about 84% of the proceeds from the sale of land use rights in the Wuxi Hongshan Project will be paid to the Wuxi JV company.
CFO, not CEO. but really very bad time for the CFO to be announcing his resignation, just before the release of Q4/full year results.
grandmaster89 ( Date: 03-Feb-2010 17:13) Posted:
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CEO resign.........
This company has terrible fundamentals. In a bear market, this is are the companies that will fall first.
grandmaster89 ( Date: 30-Dec-2009 11:41) Posted:
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accumulation gg on @ 11 c
wonder who..
looks like somebody is accumulating big time @11.5
i wonder who..
the buying queue is so weak.. looks like it might just drop below $0.10 at this rate..
Feel like cutting loss and run!
top vol again..buy price always falling..wonder who's collecting..
A company with terrible fundamentals. I hope it wasn't manipulated into buying back its own shares in order to increase the stake of its parent coys for free LOL.
better watch out on this.. shareholder keeps dumping shares, not enough support from share buyback..
used to hold this share but offloaded at 0.145 when it couldnt break 0.15
of my china stocks, this is the one i'm worried about due to the credit tightening as their cash position is not strong and they have been using some for the cash buyback (and one of the shareholder offloaded 9 million shares). also at this juncture, they have stopped the share buyback as well, some support would have been nice to provide some comfort.
they really need the wuxi land sale to be concluded soon to inject much needed cash. and also some announcement on larger land sale (wuxi was only SGD50mm and not substantial enough).
however, technicals indicate oversold but i think any rebound would be quite limited as well.
It took this counter a few months to go up 1cent.. it took less den a week to drop3 cents from 0.15 to close at 0.12 today.. heart break..
this is the time to re-start the share buyback.
today top vol..
accumulating or dumping?.. hmmm
heart also sinking...
Shorters laughing to banks... holders crying at home =(
sinking slowly.. 1/2 c everyday..
50 mil profit for a 0.135 share?? Guess those above 0.50 share also don't make so much profit....