Far East Golden Resources 1188

Far East Golden Resources 1188

Postby winston » Fri Jan 29, 2010 8:09 am

Not vested.

Keep your foot on the brake with this Golden opportunity

With the Hang Seng Index rebounding yesterday, let's focus on an interesting firm.

Far East Golden Resources (1188) has made losses on its vehicle dealerships and auto mall operations in Guangzhou.

In September FEGR, headed by former Brilliance China (1114) chairman Yeung Yung, announced plans to participate in the Hybrid Kinetic Motors project in the US state of Alabama. There are plans to raise US$7.8 billion (HK$60.8 billion).

Project members are aiming to produce up to 300,000 cars a year by 2014 while creating nearly 6,000 jobs.

Last November, FEGR announced another plan to build production facilities in Shenyang to produce one million hybrid cars every year by investing 10 billon yuan (HK$11.38 billion).

The firm said it is discussing with three mainland-listed companies and a US private equity company to develop the business. On Tuesday, Yeung said three factories will be set up in Tianjin, Anhui and Ningbo. The total capital required is 90 billion yuan. Details are yet to be announced.

FEGR has a market capitalization of HK$1.9 billion. The stock has been very volatile in the past few months, falling from 35 HK cents in November to 19 HK cents last month.

Yesterday it closed at 34.5 HK cents. Dr Check is not ready to recommend this pick.

http://www.thestandard.com.hk/news_deta ... 00129&fc=8
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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