Foreland has touched S$0.10 today, the conversion price for the scrip dividend scheme.
Let's see how much lower it goes. At current price the company is being valued at S$51.1 million.
As per the HY2011 results they have S$38.7 million in net cash (Foreland is a zero debt company). This means the market is willing to sell the whole company for a net valuation of S$12.4 million. This is ridiculous considering the fact that Foreland earned S$13.51 million in the first 6 months of 2011 (Please refer their HY results announcement).
We need BB to look this way, The stock is not liquid, only BB can push the stock, you must agree.
Otherwise, very good,so what? Hope u are not offended.
But anyway , i am all out of all stock soon.,
Like the rest of the market, Foreland is being sidelined -- hardly anyone buys and sells the stock these days. The price is 9.2 cents -- what an unloved price! Hope that the 3Q results will spark new interest.
For 3Q 2011, the Group is expected to report a significantly higher revenue, compared to the corresponding period in the financial year ended 31 December 2010 (“3Q 2010”), due to the strong demand for its high grade and functional fabrics. The strong demand was a result of the recovery in the market of high grade textile products and the continuous expansion in the Group’s business for high grade umbrella fabrics.
Accordingly, the Group expects to report a significantly higher profit before taxation for 3Q 2011 as compared to 3Q 2010.
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