GMG CHIONG tomoro

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13 years 11 months ago #4780 by DBT
Replied by DBT on topic Re:GMG CHIONG tomoro
Rubber Price Rallies to Record High On Tire Demand, Supply Disruptions

Aya Takada & Supunnabul Suwannakij | December 21, 2010

Rubber futures climbed to a record, taking gains this year to 50 percent, on speculation that rising tire demand and supply disruptions may worsen a shortage.

May-delivery rubber advanced as much as 1.2 percent to 413.8 yen per kilogram ($4,944 per metric ton) on the Tokyo Commodity Exchange before settling at 413.1 yen. This year’s jump extends 2009’s rally, when prices more than doubled.

Auto sales in China may surpass the US for a third straight year in 2011 as the world’s largest carmakers — Toyota Motor Corp., General Motors Co. and Volkswagen AG — estimate sales will grow by as much as 15 percent.

In Thailand, the northeast monsoon will likely bring rains to southern provinces in late December, while heavy rains are expected across Indonesia, according to local meteorological offices. “

Fundamentally, rubber will likely extend rallies,” said Varut Rungkhum, an analyst at commodity broker Agro Wealth Ltd. in Bangkok. There are “worries over a supply shortage as rains may continue until early next year when the low-production period kicks in,” Varut said.

The Thai cash price rose 1.7 percent to 146.55 baht ($4.86) per kilo today, according to the Rubber Research Institute of Thailand. The gain was fueled by demand ahead of the holidays, while supplies from Thailand, Indonesia and Malaysia are inadequate, the institute said on its Web site.

Production in Thailand, the world’s biggest grower, may plunge 28 percent in the three months to Dec. 31 from a year ago as a La Nina weather pattern causes unusually heavy rain in the south, the Association of Natural Rubber Producing Countries said. Southern provinces account for 80 percent of Thai output.

Auto sales in China may reach 20 million units next year, according to Booz & Co. and Nomura Holdings Inc. analysts. GM, the biggest foreign automaker in China, expects sales to grow as much as 15 percent, China President Kevin Wale said on Monday. Volkswagen, Europe’s largest carmaker, projects China’s markets will rise 10 to 15 percent, according to Soh Weiming, the company’s local executive president.

Auto demand in China may grow even as it ends incentives this month that helped boost sales 34 percent to 16.4 million through November. US light vehicle sales may reach 12.8 million units, said Ashvin Chotai, managing director of consultants Intelligence Asia Automotive.

Rubber was “also supported by high crude oil prices,” said Ker Chung Yang, an analyst at Phillip Futures Pte. in Singapore. Costlier crude can boost natural rubber prices as the synthetic product is made from naphtha.

Crude oil traded near the highest level in two weeks on speculation that US economic growth will accelerate next year. Crude for February delivery rose as high as $89.77 per barrel in New York from $88.81 on Monday.

May-delivery rubber in Shanghai gained as much as 1.2 percent to 37,760 yuan ($5,669) per ton before closing at 37,685 yuan. The contract climbed to a record 38,920 yuan on Nov. 11.

Bloomberg

www.thejakartaglobe.com/business/rubber-...y-disruptions/413000

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13 years 11 months ago #4783 by DBT
Replied by DBT on topic Re:GMG CHIONG tomoro
GMG Global Ltd refers to reports on the recent Ivory Coast situation and would like to inform shareholders and the investing public that although our production facilities have not been affected, there have been delays in the shipment of our products out of Ivory Coast.

The Directors do not expect the delays in shipment to have a material impact on the Group’s financials for the year ending 31 December 2010.

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13 years 11 months ago #4786 by lhyap
Replied by lhyap on topic Re:GMG CHIONG tomoro
oh no, chionging downwards .... :(

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13 years 11 months ago #4789 by DBT
Replied by DBT on topic Re:GMG CHIONG tomoro
These are the games BBs play, so if u are long term holder, juz hold n ignore, as long as FA is good, it is a fact tat rubber shortage n increase demand, Ivory Coast is juz a temp blip, BBs are opportunist  taking this opportunity to create fear by right hand dumping to left hand, dun be surprise the huge buy q now are BBs waitng to dump to themselves again to create another wave of fear so tat they can collect more at lower level, unless u are contra or emotionaly weak, then u play into their hands.

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13 years 11 months ago #4791 by Gin
Replied by Gin on topic Re:GMG CHIONG tomoro
What is a good entry price and what is the target for GMG?

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13 years 11 months ago #4792 by greenrookie
Replied by greenrookie on topic Re:Re:GMG CHIONG tomoro
Article from the edge SINGAPORE, Dec 22 (Reuters) - Shares of rubber producer GMG Global fell as much as 8.3 percent on Wednesday as investors were nervous about the political unrest in Ivory Coast, where the firm has processing operations. At 0641 GMT, GMG Global shares were down 6.7 percent at S$0.28, the lowest in more than two months, on a volume of 102.3 million shares. 'With the political uncertainty in Ivory Coast, there are concerns whether the international community might impose economic sanctions on the country. All in, it worked to the detriment of GMG Global,' said a local analyst. 'The bulk of its plantations is mainly in Cameroon, but in terms of processing capacity it does have a more significant exposure in Ivory Coast. Investors have gotten jittery,' he added. Ivory Coast's incumbent leader Laurent Gbagbo on Tuesday invited an international committee to re-examine the results of a disputed election, to avoid a bitter power struggle with his rival escalating into civil war. GMG Global said its production facilities have not been affected and the delays in shipment are not expected to have material impact on its financials for the year ending December 31. The firm has an annual processing capacity of 36,000 metric tons in Ivory Coast, according to its website. (Reporting by Eveline Danubrata) Keywords: SINGAPORE MARKET STOCKS/GMGGLOBAL (eveline.danubrata@thomsonreuters.com)(+65 6403 5669)(Reuters Messaging: eveline.danubrata.reuters.com@reuters.net)

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