Sinotech Fibre

Re: Sinotech Fibre

Postby winston » Tue Feb 24, 2009 11:30 am

DJ MARKET TALK: Sino Techfibre Off 10.3%; Outlook Bleak - DMG

0209 GMT [Dow Jones] Sino Techfibre (AD8.SG) continues to slide as investors digest 4Q08 results released before market open yesterday; shares down 10.3% at S$0.13, follows 3.3% drop yesterday; support tipped at Oct. 2008 all-time low of S$0.115.

China-based microfibre and polyurethane (PU) synthetic leather maker reported 75.2% on-year fall in 4Q08 net profit to CNY34.0 million driven by lower average selling prices (ASP). Company warns in statement 1Q09 results to be significantly affected by reduced demand, price pressure. DMG says 4Q08 result beat expectations as broker had forecast losses but performance may deteriorate, "near term outlook remains bleak and uncertain; we believe it is still possible for ASPs and gross margins to succumb to our assumed conservative 4Q08 levels."

Still, maintains Buy call with unchanged S$0.35 target price as says stock looks cheap, trading at less than 2X forward PE.
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Re: Sinotech Fibre

Postby millionairemind » Thu Oct 22, 2009 8:20 pm

October 22, 2009, 6.10 pm (Singapore time)

Sino Techfibre warns of Q3 loss

By LYNETTE KHOO

Sino Techfibre said it expects to incur a loss for the third quarter ended Sept 30 due to the adverse operating environment for its products.

Though it sold more polyurethane (PU) and microfibre during the quarter compared to the second quarter, the selling prices for these products had declined.

The group also spent more research expenditure in the third quarter to develop new PU, microfiber and pattern molding paper (PMP) products to stay competitive.

It will announce its financial results on Nov 6.
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Re: Sinotech Fibre

Postby winston » Thu Oct 22, 2009 8:30 pm

A while back, all the "expert" analysts were touting the fibre companies :roll: :roll:
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Re: Sinotech Fibre

Postby millionairemind » Thu Oct 22, 2009 8:58 pm

winston wrote:A while back, all the "expert" analysts were touting the fibre companies :roll: :roll:


haha... you got to make the money while they are still touting those companies.. :mrgreen: :mrgreen:

Now all these fibre companies are down the lokang.. :lol: :? :?
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Re: Sinotech Fibre

Postby winston » Fri Dec 25, 2009 8:18 am

Sino Techfibre Ltd announced that the Group had clinched a major contract worth RMB45.1 million from Shandong Mingjun Textile & Garment Co., Ltd, for PU synthetic leather to be used for the manufacture of belts and shoes.

This is an entirely new PU synthetic leather product which was developed by the Group’s R&D team.


Source: Phillips
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Re: Sinotech Fibre

Postby winston » Mon Oct 25, 2010 8:19 pm

Not vested

Sino Techfibre warns of Q3 loss due to resignations
By ANGELA TAN

Sino Techfibre Limited warned on Monday that the group is expected to incur a loss in the third quarter of 2010.

This was because the resignation of staff since August 2010 had affected the production of higher grades of PU and microfibre synthetic leather products.

'Some of them were engineers who specialised in the production of these premium products,' the company said.

Sino Techfibre said although it has managed to fill some of these positions, the new employees are relatively less experienced in the production of premium PU and microfibre synthetic leather products.

'As a result, the company may not be able to meet customers' requirements in the short-term and envisages that a minimum of another three months would be required for these new staff to be equipped with the requisite skills and know-how,' it said.

http://www.businesstimes.com.sg/sub/lat ... 00,00.html?
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Re: Sinotech Fibre

Postby winston » Tue Nov 22, 2011 8:38 am

Not vested. What else is new ?

Sino Techfibre's special auditors KPMG said in a report it was hindered in its efforts to conduct a probe on the firm's accounting discrepancies.

KPMG said it was not given access to five of the six computers used by Sino Techfibre and the local tax bureau refused to accede to the firm's request for its sales and purchase invoices.

Source: Reuters
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