by Aspellian » Tue Jul 28, 2009 12:02 am
27 July - Current price $0.645
20 July - price $0.45
Reason being a string of announcements made:
Monster move during uptrend. broke out of box/pivot price.
But Fragrance is a thinly traded stock - but will this be history as it goes into prominence? ho bee in making? need to find out more.
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Fragrance Realty, a unit of Fragrance Group, has acquired a 1,520.9 sq meters land at Telok Kurau Road for $11.45 million.
The development land is zoned “residential†and has a freehold tenure with the maximum plot ratio of 1.4. Fragrance says it intends to develop the development land into a residential apartment building.
The costs of the above acquistion and development will be financed by internal funds and bank borrowings.
The company intends to commence the construction and sale of this development during second half of FY2009.
Depending on the number of units sold and the level of progress of the construction, this will contribute to the earnings and net tangible assets of the company in FY2009 and beyond.
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Fragrance Group (FRAG SP), the operator of budget hotels, surged 11% to 68 cents. The company said it bought a commercial property in Pasir Panjang in western Singapore for $23 million.
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Fragrance Realty, the unit of Fragrance Group, has acquired a 2,636.8 sq meters piece of land at Eastwood Road for $15 million.
The development land is zoned ‘Residential’ and has a freehold tenure with the maximum plot ratio of 1.4.
The property and hotel group intends to develop the development land into a residential apartment building.
The costs of the above acquistion and development will be financed by internal funds and bank borrowings.
This transaction is not expected to have any material impact on the earnings and net tangible assets of the company in FY2009.
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22nd July 09 - Fragrance Group (FRAG SP), a hotel operator, jumped 6.5 % to 49 cents. The company said net income in the second quarter rose 11% to $17.7 million.
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DELIGHT, DISCIPLINE, DILIGENT, DETERMINATION, DESIRE
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