Foreland, still looking pretty

Hey gangho, I agree with you that the stock price is strongly supported at 22-25 cent level.
btw, how you know now "20 [2012]"?

Foreland production facilities at Andong has finally got their approvals (Land use, enviromental, etc
The fate of the production facility is one of my red flags in the company, as it will cause heavy writedown in terms of assests if it turns out to be a white elephant.
 
I will wait till the water treatment plant is built and they start moving into the new facilities and start production there before i decide what to do. I might accumulate more if Foreland is still at such price or lower.
 
Management mention that there are open to the idea of disposing/ selling the old site. Not sure how profitable the venture will be. But as long as there is no problem with the production, Foreland should have no problems suriving a few years of winter. 
 
 

Hi Greenrookie, I see you are still vested.  When I started this thread the day after the 1Q results ann 7th May, I felt relieved that 1Q report stated “ we remain cautiously  optimistic on the group’s encouraging performance to continue into the 2Q 2012 ”.  Hence never felt the urgency to sell until the 2Q results as I thought the Exec Chairman will not make such a statement on 7th May without strong factory orders on hand until end June . But surprisingly they announced  2Q profit guidance on 17th July.  Anyway, wish you luck.    

Hi relaxing, Was surprised youbailed out so quickly. Nonetheless, it should be a wise choice since it continue to head south. Thanks for your well wishes, I am mindful of the risks involved in the s- chips and appreciate your reminder about the over bullish assessment by management. Besides this, there is 1 more thing investors should be mindful of, that is no dividends is declared this quarter and in this quarter, they mentioned no dividends is declared too in the same quarter from preceding year, although it's not true. Surprised sgx never query the company.

Hi Greenrookie, I bought this at ave 9.5 cts, thinking I could make some money over short term and never intended to sell at a loss before 2Q results. However, I sold at 8.5 cts few mths ago to switch to a non S-Chip which came down quite a lot, so I was just lucky. I also switched out of my only other S-Chip abt the same time for diff reasons. I still think abt 10%  of S-Chips are well managed, so if you can find them,  you’d do well as they have been sold down so much.  But this is too tough/time consuming for me, so I am sticking to my more predictable liquid stocks just in case market corrects.   

Your the other s- chip is eratat? This one has no lack of red flags flashing too