InvestIdeas

January 23, 2009, 6.19 pm (Singapore time)

Abterra warns of losses for 6 mths to end Dec 08

By ANGELA TAN

Abterra Ltd said on Friday it is expecting to report a loss for the six months ended 31 December 2008.

The board expects the group to report a loss which is mainly due to possible impairment loss on investments and for write down of certain inventories to net realizable value.

These items are mainly the results of the economic crisis that we are currently experiencing.

May 18, 2010, 7.05 pm (Singapore time)

Abterra fails to qualify for HKex mainboard listing
By ANGELA TAN

Abterra Ltd said on Tuesday that it will review its plans to seek a dual primary listing of its shares on the Hong Kong stock exchange after its FY2009 results fail to meet the listing criteria for mainboard listing.

'After discussing with several financial advisers, it was concluded that the company would not be eligible based on its latest financial results for FY2009,' Abterra said.

However, it added that it was still keen to seek a dual-listing and is looking to assess its eligibility on the basis of its financial results for the coming financial year ending 31 December 2010.

One of the requirements for a new listing on the main board of the Hong Kong stock exchange is that the listing applicant should have a minimum track record of three financial years under substantially the same management.

Also, the net profit of the listing applicant for the latest completed financial year should not be less than HK$20 million and the aggregate net profit of the listing applicant for the preceding two financial years should not be less than HK$30 million.