United Fiber

United Fiber

Postby winston » Fri Jun 06, 2008 2:39 pm

Not vested. From DMG:-

United Fiber System: Pulp Fiction No More
(BUY\S$0.21\Target S$0.31)

Owns one of Indonesia’s largest forest concessions. Unifiber possesses 268,585 ha of forest concession rights in South Kalimantan - one of lndonesia’s largest forest concessions & plantations. According to management, UF is probably ranked number 3 in Indonesia in terms of forest concessions’ land area. The concession rights entitles it to plant, maintain, process and market products extracted from the concession area up to 26 February 2041.

Well located for constant supply of wood raw material. Wood raw material costs make up 60-70% of total manufacturing costs, with the remaining comprising of labour costs, chemicals and energy costs. As such, variability in the price of wood will have the largest impact on costs and profitability.

For Unifiber, the exposure to the variability of wood prices should be partially mitigated as it plans to source a large proportion of its wood raw material from its own plantations. Moreover, Unifiber’s pulp mill and wood chip mill are located in South Kalimantan where there are no nearby mills. As such, plantation owners in the vicinity have a greater probability of selling the harvested trees to Unifiber’s mills rather than elsewhere. The raw materials supplied by Unifiber’s plantation provide it with added bargaining power.

Proximity to fast growing Asian market, particularly China. China is a major producer of paper and paperboard products. However, China’s lack of wood fibre means that it has to continue to rely on imported pulpwood and pulp to meet this demand. China’s import of pulp for paper has grown 272% over a 10 year period from 1996–2006.

In terms of tonnage, that translates to 8.2m tonnes that China imported in 2006, according to Food & Agriculture Organisation of the United Nations (FAO). Unifiber’s proximity to China and other growing Asian markets mean that it would enjoy lower freight costs vis-à-vis its competitors in North and South America.

Lower cost of production. According to management, Indonesia is one of the world’s most cost competitive countries for the production of pulp. The cash cost of production (excluding capital cost) of pulp mills in North America is estimated to be above US$600/tonne, versus above US$500/tonne in Korea, above US$350/tonne in China and between US$300-350/tonne in many pulp mills in Indonesia. Given the proximity of Unifiber’s pulp mill to its plantation, cost of production is expected to be well below US$250/tonne.

Re-initiate with a BUY. Given that Unifiber has a few distinct businesses, we believe that a sum-ofthe-parts valuation is most relevant. We attain a fair value of S$0.31 per share, which implies a 47.6% upside from current levels. Unifiber has the additional kicker coming in from pulp mill PT MBBM when it starts in 2010. We re-initiate coverage on Unifiber with a BUY rating.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118526
Joined: Wed May 07, 2008 9:28 am

Re: United Fiber

Postby millionairemind » Mon Nov 10, 2008 4:56 pm

Published November 10, 2008

United Fiber sues Merrill Lynch
It accuses the bank of backing out of 2006 deal to provide takeover financing


(MANHATTAN) Merrill Lynch & Co was sued by United Fiber System Ltd, a Singapore-based forestry company, and accused of backing out of a 2006 deal to provide takeover financing due to pressure from non-governmental organisations (NGOs).

Merrill, the investment bank being taken over by Bank of America Corp, agreed to provide up to US$500 million for the acquisition of the Indonesian pulp maker PT Kiani Kertas, United Fiber said on Nov 5 in a complaint in federal court in New York.

Merrill backed out of the deal in May 2006 under pressure from unnamed organisations after making promises not to 'succumb', United Fiber said.

'As a result of Merrill's breach, plaintiff was unable to acquire PT KK and suffered tremendous financial loss,' United Fiber said, requesting unspecified damages. 'When news of Merrill Lynch's breach became public, plaintiff's stock price crashed and plaintiff lost the profits that would have been earned had the acquisition gone through.'

Merrill spokesman Mark Herr declined to comment immediately.

On Sept 8, 2006, shares of United Fiber fell as much as 10 per cent after a newspaper reported that the company dropped a plan to buy Kiani Kertas. Bisnis Indonesia reported that the company dropped its purchase plan because the process was taking too long.

United Fiber's legal claims include breach of contract and breach of fiduciary duty. The complaint does not specify what type of 'pressure' was exerted by the NGOs. -- Bloomberg
"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

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
User avatar
millionairemind
Big Boss
 
Posts: 8183
Joined: Wed May 07, 2008 8:50 am
Location: The Matrix

Re: United Fiber

Postby financecaptain » Mon Nov 10, 2008 5:39 pm

My believe it is a concept stock. Return is binary. Either zero or many time multiples. If Company is lucky, it could attract a good trade sale.
User avatar
financecaptain
Foreman
 
Posts: 286
Joined: Mon Aug 25, 2008 3:49 pm

Re: United Fiber

Postby millionairemind » Tue Nov 10, 2009 8:14 pm

November 10, 2009, 7.09 pm (Singapore time)

Unifiber shaves losses for Q3, pulp sector still weak


By ANGELA TAN


United Fiber System Limited (Unifiber) on Tuesday reported net loss for the third quarter to end September 2009 was narrower, at US$1.39 million, compared to a net loss of US$2.35 million a year ago.

Revenue rose 31 per cent to US$36.46 million.

Higher revenues were reported by the Construction & Property Division due to higher percentage completion of contracts. Lower sales, however, were recorded from the Forestry & Pulp Division compared to 3Q08 due to the slow recovery of the pulp industry.
"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

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
User avatar
millionairemind
Big Boss
 
Posts: 8183
Joined: Wed May 07, 2008 8:50 am
Location: The Matrix

Re: United Fiber

Postby winston » Fri Jan 08, 2010 8:52 am

UNITED FIBER SYSTEM Singapore's United Fiber System said on Thursday its construction unit has secured a S$191 million ($137.2 million) contract from Guocoland Group for the construction of a 12-storey condominium development project in Singapore.

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118526
Joined: Wed May 07, 2008 9:28 am

Re: United Fiber

Postby millionairemind » Fri May 21, 2010 6:35 pm

May 21, 2010, 5.46 pm (Singapore time)

Poh Lian wins S$58.5 mln residential project


By ANGELA TAN

United Fiber System Limited (Unifiber) announced on Friday that its subsidiary, Poh Lian Construction (Pte.) Ltd, has been awarded a $58.5 million contract by Prime Residential Development Pte Ltd, a subsidiary of Kajima Overseas Asia Pte Ltd.

The contract is for the construction of one block of Part 2/ Part 5-storey and 1 block of 5-storey apartment block (total: 29 units) and a pair of 2-storey strata semi-detached houses complete with basement carpark, swimming pool and other ancillary facilities ('the Project') at the up-market residential area located near Nathan Road and Bishopgate junction.

The project will commence on 27 May 2010 and is scheduled to be completed on 26 March 2012.

The project is expected to contribute positively to the group but not expected to have any material impact on the group's current year results.

The current order book, including the project, is about S$601 million.
"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

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
User avatar
millionairemind
Big Boss
 
Posts: 8183
Joined: Wed May 07, 2008 8:50 am
Location: The Matrix

Re: United Fiber

Postby winston » Fri Feb 04, 2011 12:44 pm

Title: Forestry firm ordered to pay $25m debt
Source: Straits Times
Author: K C Vijayan

THE High Court has knocked back a bid by forestry firm United Fiber System (UFS) to stave off a demand by a China-based conglomerate for repayment of a US$19.7 million (S$25.3 million) debt.

China National Machinery & Equipment Import & Export Corporation (CMEC) demanded payment last August based on a performance bond that UFS had provided.

UFS told the High Court that the bond was not immediately payable. It claimed that it had struck a binding agreement with CMEC last July in relation to the debt under the bond, and that this should prevail. But Justice Quentin Loh rejected the UFS claims in a 30-page judgment released on Monday.

UFS has 21 days from the date of Monday's judgment to pay up. But the judge had noted during oral submissions last month that 'there is a new 'white knight' in the wings and it was 'a matter of weeks' before UFS would get funds to pay off the debt'.


http://www.singaporelawwatch.sg/remweb/ ... howClose=y
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118526
Joined: Wed May 07, 2008 9:28 am

Re: United Fiber

Postby winston » Mon Feb 07, 2011 1:50 pm

Not vested

Shares of United Fiber , a forestry and pulp firm, fell as much as 9.1 percent after it said a judge has ruled in favour of China National Machinery and Equipment Import and Export Corp (CMEC), which has demanded a $19.7 million payment.

At midday, United Fiber shares were trading at S$0.05 on a volume of 7 million shares.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118526
Joined: Wed May 07, 2008 9:28 am

Re: United Fiber

Postby winston » Fri Jan 27, 2012 2:21 pm

not vested. IPO market is dead so why do a reverse take-over ?

United Fiber System Ltd surged as much as 71 percent, after it struck a S$1.5 billion reverse takeover deal with Indonesian coal miner PT Golden Energy Mines Tbk .

By 0530 GMT, United Fiber shares were up 39 percent at S$0.039 on volume of 70.6 million shares, 69 times the average daily volume traded over the last 30 days.

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118526
Joined: Wed May 07, 2008 9:28 am

Re: United Fiber

Postby winston » Mon Jan 30, 2012 11:00 am

Singapore Hot Stocks-United Fiber extends gains after takeover deal

SINGAPORE, Jan 30 (Reuters) - Shares of United Fiber System Ltd surged as much as 15 percent on Monday, extending gains on expectations the forestry firm will benefit from its new coal mining business after it struck a S$1.5 billion ($1.20 billion) reverse takeover deal.

By 0223 GMT, United Fiber shares were 12.8 percent higher at S$0.044 with 63.5 million shares traded. It was the most actively traded stock by volume on the Singapore exchange and the number of shares traded was 2.7 times its average daily volume traded over the last five sessions.

"Previously, the company was almost dead and this is seen as a revival. With the reverse takeover, its new business in coal mining is seen as pretty attractive," said a local dealer.

United Fiber shares jumped 39 percent on Friday after the company had entered into an agreement with Indonesian coal miner PT Dian Swastatika Sentosa Tbk to help it focus on its coal-mining business.

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118526
Joined: Wed May 07, 2008 9:28 am


Return to U to Z

Who is online

Users browsing this forum: No registered users and 4 guests