Cassava Resources 841

Cassava Resources 841

Postby winston » Wed Dec 23, 2009 8:05 am

Ethanol sales perk up cassava planter by Sophie He, The Standard HK:-

Strong mainland demand has helped Asia Cassava Resources (0841) record a tenfold jump in net profit to HK$34 million for the six months ended September 30 compared with a year ago.

The basic earning per share was 11.3 HK cents. An interim dividend of 2 HK cents a share was declared.

The company, which listed in March, is Thailand's largest exporter of dried cassava chips. It is also the largest importer of the product in the mainland. Its market share in both countries is more than 30 percent.

Chief financial officer Shum Shing- kei said net profit from its core business registered 120 percent year-on- year growth in the first half.

The company is trying to buy more cassava from Southeast Asia to cope with growing demand from the mainland, particularly from ethanol fuel companies.

Dried cassava is one of the main ingredients in the manufacture of ethanol fuel, which can reduce carbon dioxide emissions.

"The Chinese government encourages the business, so we are very confident about the future of our company," said executive director Jimmy Chan.

Currently, only 20 percent of the dried cassava imported by mainland from the company goes to ethanol fuel making.

"The percentage may reach 50 percent in a few years since the government of China is determined to reduce the emission of carbon dioxide," Chan said.

http://www.thestandard.com.hk/news_deta ... 91223&fc=4
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Re: Asia Cassava Resources 841

Postby winston » Wed Dec 23, 2009 8:29 am

INTERIM RESULTS ANNOUNCEMENT
FOR SIX MONTHS ENDED 30 SEPTEMBER 2009


Highlights

- Continued to be the largest procurer and exporter of dried cassava chips in Thailand and the largest supplier of imported dried cassava chips in the PRC, with a persistent increase in our market share

- Revenue amounted to approximately HK$586 million, representing an increase of 55%
over the previous period

- Approximately 513,000 tonnes of dried cassava chips were sold, representing an increase of 128% over the previous period

- Profit for the Current Period amounted to approximately HK$34 million, representing an increase of more than tenfold over the previous period

- Approximately 107,000 tonnes of dried cassava chips sold to companies in ethanol fuel industry, representing an increase of 138% over the previous period
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Re: Asia Cassava Resources 841

Postby winston » Sun Dec 27, 2009 10:03 am

lithium wrote: Cassava resources looks interesting. But it's breaking down with increasing volume lately.


Yes, it's a worrying sign. Looks like someone is getting out on the good results.

Or maybe someone is trying to manipulate the price so that they can buy more ?

This on may need some stomach to go through the volatility.

Results and valuation are quite good though.

Cassava if you dont know, is "ubi kayu". So I may become an "ubi" if this one blow in my face :D :P :lol: :roll:
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Re: Asia Cassava Resources 841

Postby winston » Sun Dec 27, 2009 10:17 am

On 23 December 2009 (after trading hours), the Purchaser (a wholly owned subsidiary of
the Company) and the Vendor entered into the Agreement pursuant to which the Purchaser shall purchase and the Vendor shall sell the Vessel at a total cash consideration of US$5,950,000 (equivalent to approximately HK$46,410,000).

The consideration for the sale and purchase of the Vessel shall be financed by the internal resources of the Group and/or external bank borrowings.
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Re: Asia Cassava Resources 841

Postby winston » Fri Feb 12, 2010 10:56 am

Vested.

DJ MARKET TALK: Taifook Starts Asia Cassava At Buy;Target HK$2.42

1606 [Dow Jones] STOCK CALL: Taifook starts Asia Cassava Resources (0841.HK) at Buy, sets target at HK$2.42, representing 10.3X FY10 P/E, which in line with peers in upstream crop and starch supplies. "The company's integrated supply chain should assure its lead in the cassava trading business."

Notes, according to management, company sold over 1 million tons of dry cassava in China in first nine months in FY10 (fiscal year ending March), accounting for roughly one-third of China's imports from Thailand. Stock ends +1.6% at HK$1.96.(SUT)

Source: Dow Jones Newswire
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Re: Asia Cassava Resources 841

Postby winston » Sat Feb 13, 2010 11:37 am

Vested.

ANNNOUNCEMENT REGARDING CERTAIN PRESS ARTICLES
Jan 14, 2010

The board (“Board”) of directors (“Directors”) of Asia Cassava Resources Holdings Limited
(the “Company”, and together with its subsidiaries, the “Group”) noted that on 11 January 2010, certain articles (“Articles”) were published in certain newspapers in Hong Kong stating, among others, that the sales volume of the Group for the nine months ended 31 December 2009 had doubled to over 1 million tonnes, when compared to the corresponding period in 2008; and that around 60% of the Group’s annual sales are typically recorded in the second half of the financial year.

The Board is pleased to announce that:

1) based on the unaudited management accounts of the Group for the nine months ended 31 December 2009, the quantity of dried cassava chips sold by the Group for the period amounted to over 1 million tonnes, representing an increase of approximately [147]%, when compared to the corresponding period in 2008; and

2) based on the Group’s experience, the second half of the Group’s financial year is normally the peak season for the sale of dried cassava chips. For each of the two financial years ended 31 March 2009, sales in the second half of the financial year (i.e. October to March) represented about 59% (unaudited) and 69% (unaudited) of the total quantity of dried cassava chips sold by the Group in the respective financial year.

The above historical figures should not be used as a reference or basis for ascertaining the sales volume, revenue or profits of the Group for the financial year ending 31 March 2010 or for subsequent financial years.

Shareholders and potential investors in the Company are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board of
Asia Cassava Resources Holdings
Chu Ming Chuan
Chairman
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Re: Asia Cassava Resources 841

Postby winston » Thu Apr 29, 2010 3:54 pm

Vested.

POSITIVE PROFIT ALERT

The board of directors (the “Board”) of Asia Cassava Resources Holdings Limited (the “Company”) is pleased to inform the shareholders and potential investors of the Company that after a preliminary review of the management accounts of the Company and its subsidiaries (collectively the “Group”), it is expected that the profit of the Group for the year ended 31 March 2010 (the “Year”) would record a significant increase as compared with its profit for the previous year primarily due to a rapid growth in the Group’s core business driven by the persistent increase in demand for dried cassava chips from its customers in the PRC following the implementation of environmental policies in mainland China and the economic recovery.

The Group’s sales volume of dried cassava chips for the Year is more than double of that of the previous year while the Group’s revenue of dried cassava chips for the Year is also more than double of that of the previous year. In addition, the Group would have a fair value gain on revaluation of the Group’s investment properties for the Year.

http://www.hkexnews.hk/listedco/listcon ... 426586.pdf
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Re: Asia Cassava Resources 841

Postby winston » Thu May 20, 2010 1:56 pm

Vested.

The board (the “Board”) of directors (the “Directors”) of Asia Cassava Resources Holdings Limited (the “Company”, and together with its subsidiaries, the “Group”) noted the recent political unrest occurred in Thailand.

The Board would like to inform shareholders and potential investors that the recent political unrest was occurred primarily in the urban districts of Bangkok, Thailand and the Group’s procurement, warehousing and export loading facilities are located in the areas of Bangsai, Sriracha, Bangpakong, Chaiyaphum and Khlong Lan, which are outside Bangkok and such facilities/areas have not been significantly affected by the recent political unrest in Bangkok.

The business and the operation of the Group in Thailand were not significantly affected by the recent political unrest. The Group’s daily activities of procurement, logistics and export of dried cassava chips in/from Thailand have been carried out as usual.
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Re: Asia Cassava Resources 841

Postby winston » Tue Jul 20, 2010 11:01 am

Vested. Results will be announced on Monday, July 26
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Re: Asia Cassava Resources 841

Postby winston » Mon Jul 26, 2010 3:13 pm

The results are out already and as expected, people were selling on the news as the run-up was too steep and too fast :lol: :roll:

And since they are selling, I have taken the opportunity to buy back :D

Vested again.
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