Avarga

Joes
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3 years 7 months ago - 3 years 7 months ago #25459 by Joes

Avarga was created by Joes

Avarga on the SGX has 2 big substantial shareholders -- Tong Kooi Ong of The Edge and Peter Lim.

Tong is the executive chairman, his son Ian is the CEO.

www.avarga.com.sg/about-us/board-of-directors/

Avarga owns 68% ownership of Taiga (listed in Canada). Taiga stock has run up 30% in last 3 months becos lumber prices have gone thru the roof.

Avarga upped from 15 cent+ last Friday to 20 cents this morning.

Note that Avarga did a share buyback of 539,800 shares at 14.7-15 cents on 17 Aug 2020.

links.sgx.com/1.0.0/corporate-announceme...b844631b1464ab64ef00

Last edit: 3 years 7 months ago by Joes.

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3 years 7 months ago - 3 years 7 months ago #25462 by Joes

Replied by Joes on topic Avarga

The Board and the Company’s management are not aware of the reason for the trading. However, as an investment company focused on creating value through strategic investments, the Company is constantly considering possible corporate actions and exercises to increase shareholder returns.

At present, the Company is exploring opportunities relating to its paper manufacturing business. These opportunities include the expansion and/or a potential listing of this business[/b]. However, such exploration is still at a preliminary stage. There is no assurance as to whether any transaction will materialise or as to the structure of any such transaction. The Company will make appropriate announcements in the event that there are any material developments in this regard.

The Company has also been considering a possible transaction which will allow it to monetise its investment in the power plant located in Yangon, Myanmar. The terms of such possible transaction are still not finalised and are still under consideration. Again, there is no assurance as to whether any transaction will materialise or as to whether any definitive agreement will be reached. The Company will also make appropriate announcements in the event that there are any material developments in this regard.

In addition, the Company’s subsidiary, Taiga Building Products Ltd, reported strong earnings growth for the period ended 30 June 2020. In this regard, the Company notes that companies in the building materials industry in North America have generally performed strongly in the stock market given recent strong demand in housing and home renovation projects.

Last edit: 3 years 7 months ago by Joes.

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3 years 7 months ago - 3 years 7 months ago #25472 by Joes

Replied by Joes on topic Avarga

Lumber prices are up strongly, so Avarga is making a good run.Another lumber stock is Samko Timber, which is being chased up currently.As background, the company is controlled by the Sampoerna family and, interestingly, there is a small holding by Temasek.

Last edit: 3 years 7 months ago by Joes.

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3 years 7 months ago - 3 years 7 months ago #25477 by Joes

Replied by Joes on topic Avarga

Lumber prices have surged to a fresh record high of USD$915 per 1000 board feet in August and more than doubled in value over the last year amid continuing robust demand from the renovation and new home markets.

Alongside with strong demand were a supply shortage as mills failed to anticipate the coronavirus pandemic setting off a building boom.

Avarga to hit 40 cents soon?

Last edit: 3 years 7 months ago by Joes.

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