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Surprise us lah..... I am tired to see you wrong after wrong after wrong.....
Strong buy force to squeeze shorties? Lol
solidbuy ( Date: 07-Oct-2013 13:42) Posted:
ok ok quick quick make it fast and furious! Don let me down again ok...
Isolator ( Date: 07-Oct-2013 13:38) Posted:
| See how a seasoned player me can profit from ipco during this down....... Let me show the shorties what is a strong buying force..... lol |
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in few mths sure price will be up again. he cannot show in near future, definitely not within contra period.
solidbuy ( Date: 07-Oct-2013 13:42) Posted:
ok ok quick quick make it fast and furious! Don let me down again ok...
Isolator ( Date: 07-Oct-2013 13:38) Posted:
| See how a seasoned player me can profit from ipco during this down....... Let me show the shorties what is a strong buying force..... lol |
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020 coming...
Again .... As boastful as ever .... As wrong as ever too.
Isolator ( Date: 07-Oct-2013 13:38) Posted:
| See how a seasoned player me can profit from ipco during this down....... Let me show the shorties what is a strong buying force..... lol |
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ok ok quick quick make it fast and furious! Don let me down again ok...
Isolator ( Date: 07-Oct-2013 13:38) Posted:
| See how a seasoned player me can profit from ipco during this down....... Let me show the shorties what is a strong buying force..... lol |
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All-in....... LOL
See how a seasoned player me can profit from ipco during this down....... Let me show the shorties what is a strong buying force..... lol
ok I buy soon....coming....
Isolator ( Date: 07-Oct-2013 13:28) Posted:
Retail losing confident as the panic works..... I am not panic... so I buy more.....
Rosesyrup ( Date: 07-Oct-2013 11:50) Posted:
| Bro, I don't think today sell down is due to intention to create panic. Almost everything is becoming clear now and yet people choose to sell this counter. I guess it is more like people are losing confident in this one |
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Retail losing confident as the panic works..... I am not panic... so I buy more.....
Rosesyrup ( Date: 07-Oct-2013 11:50) Posted:
Bro, I don't think today sell down is due to intention to create panic. Almost everything is becoming clear now and yet people choose to sell this counter. I guess it is more like people are losing confident in this one.
Isolator ( Date: 07-Oct-2013 10:31) Posted:
| Under such intentional selldown to create panic..... I must buy...... |
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Peter_Pan ( Date: 06-Oct-2013 17:46) Posted:
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| | | Reuters Code: | IPCO.SI | | Company: | IPCO International Limited | | Slug: | If Innopac writes down investment, why won't IPCO? |
| | | Date of Report: | 05/10/2013 | | Producer: | Ashish Saxena | | | |
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Innopac makes sensational disclosure about its 25% stake in Grand Prosper, and says it's been sitting idle for more than a year with no hope of recovery. Then why is 75% owner IPCO still hanging on?
5/3/2013 ? The onus is on IPCO International now to clarify its investment in Grand Prosper Group Ltd, after Grand Prosper's 25% owner, Innopac Holdings Ltd, has made some sensational disclosures to the Singapore Exchange.
This story was first published on April 4, 2013.
Innopac said it had written off its S$1.4 mln investment in the company, saying " In the Company?s view, the lengthy and convoluted processes to obtain more than 10 approvals from various other local authorities, such as civil defense bureau, city planning bureau, and quality inspection bureau in addition to the permits adds to future uncertainties. Though Grand Prosper and Deshi are cautiously optimistic that the Permits would be renewed, the Company has taken a conservative stance and impaired its investment in Grand Prosper" .
Innopac was replying to an SGX query, but its words are even more significant for shareholders of IPCO International, which owns the other 75% of Grand Prosper, via its wholly owned subsidiary Excellent Empire Ltd.
The reason for Grand Prosper's impairment has to do with its 90% stake in Deshi Oil and Gas Exploration Co Ltd.
According to Innopac?s reply to SGX: In December 2010, Deshi received permits from the public utility bureau to build and operate two CNG stations in Dezhou City, Shandong Province.
Further, Deshi planned to commence the construction of one CNG station in the second half of 2011.
But none of Deshi?s proposed station sites met the local authority?s approval criteria, reveals Innopac.
Subsequently, the permits lapsed in December 2011.
Deshi has already applied for the renewal of the permits but without success.
Investor Central. We ask the questions that need to be asked
 1. Why did it keep shareholders in the dark for so long?
Since we do not have anything to doubt the integrity of Innopac's MD & CEO Wong Chin Yong, we will take his reply to the query from SGX at face value.
According to that reply, Deshi?s permits for constructing two CNG fuel stations in Dezhou city expired in December 2011.
Therefore we just cannot understand why IPCO did not inform the market about such a meaningful development and decided to sit on it for more than a year.
2. Will it write off its S$17 mln investment in Grand Prosper?
Innopac's decision to write off its investment in Grand Prosper now puts the spotlight on IPCO International: will it follow suit?
In December 2007, IPCO?s wholly-owned subsidiary bought a 55% stake in Grand Prosper for US$9.5 mln (or S$13.8 mln at exchange rates at the time).
From the very beginning, Grand Prosper?s only business/asset was its 90% stake in Deshi Oil and Gas Exploration Co Ltd.
In June 2010, IPCO bought another 20% stake in Grand Prosper for S$3 mln.
So that makes an investment of S$16.8 mln for 75% stake in Grand Prosper.
Innopac has already lost hope of receiving renewal from the authorities and therefore, written off its entire investment in Grand Prosper.
Logically, IPCO should follow Innopac. At least on the principle of conservatism.
Therefore will IPCO bite the bullet and write off its entire investment in Grand Prosper?
If not, what reason does it have to believe that Grand Prosper will be back in business soon?
3. Is it really rocket science to get approvals from authorities?
Innopac says Deshi planned to launch first of its two CNG stations in the second half of 2011.
But none of Deshi?s proposed station sites met the local authority?s approval criteria.
Let's think about this: how could they win licenses to set up CNG stations and then not meet the requirements?
What shortcomings did authorities point out in the sites proposed by Deshi?
How many sites did Deshi propose which the authorities rejected?
4. Was the second CNG station never on the cards?
Innopac says Deshi planned to set up first of its two licensed CNG stations in second half of 2011.
But then when did it plan to set up the second station, as the licenses were due to expire in December 2011?
5. Was Deshi just trying its luck with the authorities?
Innopac blames ?the lengthy and convoluted processes to obtain more than 10 approvals from various other local authorities, such as civil defense bureau, city planning bureau, and quality inspection bureau in addition to the permits adds to future uncertainties?.
Wasn't Deshi aware of the regulatory processes before it stepped into the business?
And if it always knew the regulatory hurdles, was it just trying its luck at the expense of shareholders of Innopac and IPCO?
6. Is it time to be realistic rather than tout optimism?
Innopac clearly says it's being conservative, even as Grand Prosper and Deshi continue to be ?cautiously optimistic? that permits will be renewed.
After sitting idle for more than a year, investors of IPCO would question the optimism of its subsidiaries.
And if indeed there is a ray of hope, they would love to hear the reasons from management.
7. Why did IPCO not act even as Deshi shifted its focus?
We are still searching for replies to the questions raised in our earlier report titled Why sell investments for shares, not cash? (December 27, 2012).
Among other questions in that story, we had highlighted how Deshi?s business changed dramatically after IPCO bought its stake in 2007.
In 2007, Grand Prosper Group owned 90% of a joint venture called Deshi Oil and Gas Exploration Co Ltd, which had a contract with Shengli - a subsidiary of Sinopec - for the exploration, exploitation and production of oil and natural gas in the Ciyaobao and Dongdaoliangzi areas of the Ningxia Autonomous Region in China.
The contract was valid until 2026.
Unfortunately, we did not hear anything from IPCO on the developments from Ciyaobao area ever since the acquisition (at least, none that we could find going through the SGX announcements).
Suddenly, in 2011, Innopac bought the remaining 25% stake in Grand Prosper because it believed ?its investment in the CNG fuel station business in Dezhou, Shandong will contribute positively in the coming years?.
Wait a minute!
Wasn't Grand Prosper set up to benefit from exploration, exploitation and production of oil and natural gas in the Ciyaobao and Dongdaoliangzi area of the Ningxia Autonomous Region in China?
When did that change?
We have sent these questions to the company to invite them for an on-camera interview, and/or seek their written response.
Sofar, we have not had a reply (which is why you are seeing this message). Source: Investor Central |
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ya lah. he is seasoned player still cannot see....hmmmm....
Rosesyrup ( Date: 07-Oct-2013 11:50) Posted:
Bro, I don't think today sell down is due to intention to create panic. Almost everything is becoming clear now and yet people choose to sell this counter. I guess it is more like people are losing confident in this one.
Isolator ( Date: 07-Oct-2013 10:31) Posted:
| Under such intentional selldown to create panic..... I must buy...... |
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Bro, I don't think today sell down is due to intention to create panic. Almost everything is becoming clear now and yet people choose to sell this counter. I guess it is more like people are losing confident in this one.
Isolator ( Date: 07-Oct-2013 10:31) Posted:
| Under such intentional selldown to create panic..... I must buy...... |
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Why is IPCO attraction? I don't know. Unless someone has insider info on whatever is coming.
If Blumont Group & Innopac are having problem now, don't expect IPCO to do any better. IPCO's other investment portfolio are oso NOT fantastic:
1) Excellent Empire Ltd - just a stable business, supply piped-in gas in China (not exploration that would be high risk high reward).
2) Grand Prosper Ltd (incl. subsidiary Deshi Oil) - zero income. yet to obtain a licence to explore oil in China. Yet almost all of the $60m recent money from convertible was pumped into Deshi.
3) Asia Plan Ltd- how long will it take for US real estate to show meaningful return.
4) ESA Electronics - not doing well in semi-conductor business.
queue at 2.4 getting stronger...too late for me : (
buy at 2.3 ..happy holding..
Today think it will hoover around 22-24
think edward may buy back some already between 2.1-2.4, since it's reasonably cheap.. unless he still concern about the blumont saga, or the debt ceiling issue..
2.6 highest and I will be happy
Isolator ( Date: 07-Oct-2013 11:23) Posted:
Usually what come down sharply in early trade..... will rebound sharply later.....
Bigmama ( Date: 07-Oct-2013 11:18) Posted:
| Hopefully. It is going to be a hard swing |
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hmmm...should i queue at 0.024?
Usually what come down sharply in early trade..... will rebound sharply later.....
Bigmama ( Date: 07-Oct-2013 11:18) Posted:
Hopefully. It is going to be a hard swing.
Isolator ( Date: 07-Oct-2013 11:15) Posted:
| Your swing can work now... |
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