Sakari Resources ( former Straits Asia )

Re: Straits Asia Resources

Postby iam802 » Fri Jan 30, 2009 3:55 pm

Up more than 16% today

Bidding war started.


(not vested)
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Re: Straits Asia Resources

Postby millionairemind » Fri Jan 30, 2009 7:08 pm

Wonder who is spreading the rumours.. my friend at DBS vickers got the tipoff right after 2pm and the stock just took off from there.

January 30, 2009, 6.43 pm (Singapore time)

Straits Asia Resources says no formal bid received yet

By ANGELA TAN

Straits Asia Resources Limited on Friday told the Singapore Exchange that there has been no formal expression of interest to buy the company.

'The Review is continuing. Straits Asia is aware of various press reports concerning parties who may be interested in acquiring a shareholding in Straits Asia, but Straits Asia has not been informed that there has been any formal expression of interest arising from the Review,' the company said in reply to queries from the exchange after its share price rallied.

On 4 December 2008 Straits Asia announced that its major shareholder, Straits Resources Limited (SRL) had informed Straits Asia that it intended to conduct a strategic review (Review) in relation to its 47.1 per cent shareholding in Straits Asia.

On Friday, Reuters reported that commodities firm Noble Group and Indonesian coal miner PT Indika Energy Tbk are among the companies pursuing a bid for Straits Asia Resources, according to sources familiar with the matter, in a deal that could be worth more than US$800 million.

Bidders are setting their sights on the two Indonesian coal mines that the Singapore-listed company controls.

Straits Asia said it will keep the market informed if it becomes aware of any significant developments concerning the Review.

Its shares ended up 14 per cent, or 11.5 cents, at 94 cents each on Friday.
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Re: Straits Asia Resources

Postby iam802 » Fri Jan 30, 2009 7:14 pm

It's on Reuters.

http://www.reuters.com/article/marketsN ... 4020090130


Note: First draft of the newsfeed is around 2pm
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Straits Asia Resources

Postby millionairemind » Fri Jan 30, 2009 8:39 pm

Thanks 802. The stock really moved today... but I am not vested.. :(
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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Re: Straits Asia Resources

Postby LenaHuat » Sun Feb 01, 2009 10:22 am

This could juz be calling bluffs (buying 2 Indonesian coal mines at this time :lol: )........but well I suppose who cares as long as the ticker moved.
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Re: Straits Asia Resources

Postby winston » Sun Feb 01, 2009 10:28 am

Dont quite understand...

If you have money, would you be buying coal mines in Indonesia or would you prefer to buy coal mines in Australia ( where there the legal framework is better ) or even China ( where you are closer to a huge market ) ?
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Re: Straits Asia Resources

Postby Poles » Sun Feb 01, 2009 11:54 am

just a guess.....in indo...easier to manipulate $$$ with $.
in OZ not so easy to manipulate ...maybe need $$$ to manipulate $$
in China....cannot beat them.
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Re: Straits Asia Resources

Postby kennynah » Sun Feb 01, 2009 1:41 pm

winston wrote:Dont quite understand...

If you have money, would you be buying coal mines in Indonesia or would you prefer to buy coal mines in Australia ( where there the legal framework is better ) or even China ( where you are closer to a huge market ) ?


if i have money....i would instal a gas oven.... forget that old dirty coal....hahahaha...
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Re: Straits Asia Resources

Postby LenaHuat » Thu Feb 05, 2009 8:57 pm

Is the verdict out on this pl?
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Re: Straits Asia Resources

Postby winston » Fri Mar 06, 2009 3:56 pm

Any country risks ?

INTERVIEW-Straits Asia to double coal output, eyes acquisitions

SINGAPORE, March 6 (Reuters) - Singapore-listed Straits Asia Resources said on Friday it aims to more than double its annual coal production to 20 million tonnes by 2012 and may acquire two Indonesian coal mines to achieve that target.

Straits Asia CEO Richard Ong told Reuters the company will start by boosting its production to 9.5 million tonnes this year from 8.6 million last year.

"I think the plan for this company is to bring (the production) to 20 million in three years, by 2012," Richard Ong said in an interview.

"We are not stopping to look into acquisitions, we may want to select one or two," Ong said, adding that those acquisitions will be of Indonesian assets.
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