la papillion wrote:But based on the chart, we see a protracted downtrend line since nov 7, with price testing again on 15 jan 08 and 9th may 08. Only if the price goes above this downtrend line (around 0.215) then I'll expect a more bullish trend. That being said, it's supported by a short term uptrend line too. Time will tell how it'll play out, which we'll see latest by 3rd week of June. A rebound of the price is due, I suppose.
On weekly chart, price is well supported by ema 20 week though, so a drop below 0.190/0.195 might spell trouble.
>>>Thanks to La Pap, for his analysis & alert that e half year results r out, yes, we cld be seeing a dip @ 0.190 level.
>>> let's see e communicating messages sent out (in my opinion, seemed to have ambiguousity):
(in S$’m) 2008 2007 %
Change
Revenue 10.4 11.7 (11.1)
Gross Profit 5.4 6.3 (13.3)
Gross Profit Margin (%) 51.9 53.2 - 1.2 % pt
Profit Before Tax 7.5 3.5 +116.5
Net Profit After Tax 6.6 2.8 +133.7
Net Profit Margin (%) 63.5 22.3 +41.2% pt
Revenue for 1H FY2008 was S$10.4 million, a declined of 11.1% from S$11.7 million for the 6 months ended 30 April 2007 (“1H FY2007â€). A lower revenue was registered due to fewer surface blasting activities and consequently,
lower volume of used copper slag were collected. However, there were increased activities at the horticulture materials recycling park at Lim Chu Kang and biomass cogeneration plant.
Gross profit, in tandem with the decline in revenue,
drop13.3% to S$5.4 million in 1H FY2008 from S$6.3 million in 1H FY2007. Gross profit margin declined from 53.2% in 1H FY2007 to 51.9% in 1H FY2008. This is mainly due to the increase in operation cost
as a result of higher diesel price.The Group had previously announced its joint venture with Holcim Singapore Pte Ltd to maintain and operate an industrial materials recycling and processing plant to recycle and process used copper slag. In addition, the
joint venture also includes the setting up of a research and development facility to develop alternative sources of fuels and raw materials that can be used in the manufacture of cement, building and construction materials. As part of the agreement, Holcim Singapore has paid approximately S$5.1 million for a 50% stake in ecoWise Materials Pte Ltd, a new subsidiary formed for the above purposes. The used copper slag business still remains within the Group.
>>> my feel, could be it a failure in realign'g e copper slag biz bet e JV operator that results in lower collection of copper slag? operational issues? why is there a reduced surface blasting activities, & not explained? ambigious ...This transaction resulted in a gain of S$4.7 million in the Group’s income statement. Hence, net profit after tax rose 133.7% to S$6.6 million in 1H FY2008 from S$2.8 million in 1H FY2007.
Commenting on the Group’s performance, Mr Lee Thiam Seng, Chief Executive Officer, ecoWise Holdings Limited said “Overall, we are pleased with the set of results posted. Although affected by the
reduced surface blasting activities in the 1H FY2008, we remain positive of our collection and recovery of used copper slag business as ship repairs and maintenance activities remain buoyant in Singapore. The positive net cash flow from our operating activities together with the proceeds from the joint venture with Holcim Singapore has indeed strengthened our financial position to fund and undertake new ventures.â€
On 9 June 2008, the Group announced its long term strategic initiative to invigorate its renewable energy segment. It has established ecoWise Energy Pte Ltd to identify opportunities, inject suitable technology solutions, invest in and further
develop projects in the renewable energy sector in the South East Asian Region. To fund its growth, ecoWise Energy will be able to tap on the Group’s strong capital resources and its access to capital markets.
>>>what r e TURNING-KEY project developments? are we refer to what La pap has mentioned on e new cogeneration plant that can generate electricity and heat from renewable biomass like wood and horticulture waste?
>>> again, no mentioned on e wastewater engineering of e Envirox, ecowise solutions biz ...