Hi reck, I no longer track these counters because the reasons for buying has already changed. Pacific health I have offload at 17.5 cents, the peak was actually 19cents, when I recommend the stock, it is 13.5 cents. Main reason for offload was it hit my target and the raise was too fast, which j thought have factored in all the good outcomes that might have happen. It went down to 12.5cnts shortly after I recommended it then suddenly, it goes up to 19 cents in 5 trading days!! 30% profits is enough for me for a turnaround company and I believe the price has reflected it's potential.. The investment by various funds has taken place but resulted not in expansion but boardroom tussle... Their cancer hospital at farrer road will not be built after all...citing high capex as reasons.. director has been buying back their own company shares rather frequently thou... United fiber I made loss, bought at6 cents cut at 5 cents... Reasons for cut, the proposed 170 million injection of funds did not materialize... They blame weather for their loss of harvest of plup... Which to me is a load of rubbish and excuses... Poh Lian was the crown jewel of this company, they just finished building senja view which is near my place in a short span of 3 years... Yet this company is effectively insolvent... And they admin expenses keep rocketing due to these failed injection of funds. When I am still tracking the counter, there were many insider buying the shAres at 5- 5.5 cents... Wonder why?? But the director offloads quite a significant amount of it's shares.... Still made a nett gain from these 2 counters.. Lucky.. Market is undergoing a lull period now, there are many quality companies with improving earnings and expansion plans inexecution but prices take a beating... They are more worthwhile to invest than turnaround companies... Just my view.... Turnaround companies is a worthy bet when many solid companies are already trading at lofty valuation and you might want to nibble at these beyond radar companies... The only turnaround concept company which I am keeping track of, but not vested is hAnkore, formerly biotreat If you look carefully, there are many companies whose earnings has improved by leap and bounds but prices dive by more than half when prospects for the company and sector is still looking good.. They are my favorites now, offering more safety margins..
Thanks greenrookie for your detailed update on those 2 companies. I note your interest in Hankore and did a quick check. Yes, it could be a turnaround story as the board has been renewed. Wonder what happened to the previous people/board? Published May 27, 2011
HanKore revamps board
By ENYA LIM HANKORE Environment Tech Group (formerly Bio-Treat Technology) has revamped its board of directors in a move to rebuild and entrench itself as an advanced technological and environmental China company.
David Chen Da Wei has been appointed as the company's chief executive officer and executive chairman. Three new directors have also been appointed to the board. They are Lin Zhe Ying as executive director, Chen Da Zhi as non-executive director, and Lee Kheng Joo as independent director. The appointments took effect on May 21.
Plans include leveraging HanKore's business network in China's water and wastewater treatment industry. HanKore also announced the departure of three directors from the board - Cui Jun, Ma Zheng Hai and Zhou Yao Ming. In addition, Paul Lim, who has been the interim acting CEO, will relinquish his caretaker duties to take on a new role as a non-executive director.
About 80 to 90% of unemployed in US are from the service and construction in housing, thus they are unable to get employ as service and housing are still in their worse shape. This explain why unemployment is still high, with manufacturing charging forward but not housing and service(2/3 of economy).
I wonder why the US did not have a retraining like we did when recession hit, if they do , then today American can join manufacturing, that would have solve the unemployment problem.
2 of my favorites for turnaround. Hankore and anchun. Was very tempted at 2.9 cents to vested in hankore to take advantage of the then pending results and it has rocketed more than 50%.i have miss the boat, but with the volatility, the boat might come again.
Anchun should be worth watching at 7 cents. First, I will be honest that I have made heavy paper losses on this counter, so my disclaimer. It went to 7 cents and end at 7.3 yesterday, then peak at 8.1 cents. Although it's a low volume, I do think 7 plus cents might be a worthwhile entry point.
Why? It has cash per shares of around 9 cents, although that might be reduced when after their future capex plans. More importantly, management believes the worst is over, which I hope might be the case too. The floods and droughts are over, and with it the worst should be over too. Note that this stock has not slip into loss yet, but the profits for 1 H is forgettable, as good as nothing.
Next, Anchun technical prowess, it has many patents and technologies which has potential to be applied in other industries besides that of fertilizers industry. The drive for better energy consumption and lesser pollution for industries in china should remain intact, and the solutions provide by Anchun is not actually easily replaced, and hence that is a decent barrier of entry for competitors.
Diversification- Anchun depends on projects completion, which their earning lumpy. They are building a plant to produce reductive catalyst, it should smoothen their revenue lumpiness. Minus points- management has lost quite a fair bit of their credibility by being overly bullish for 2011, if they learn their lessons they should be more conservative in their outlook and Q3 might surprise on the upside, but if q3 slip into a loss, I think we can all send this company to the rubbish chute, since management words can no longer be trusted.
After reading greenrookie’s post, I checked Anchun on SGX. Good to see that the chairman has just made 2 purchases of 100,000 and 500,000 shares the other day.
I was also checking up on Sinopipe after reading …..
The stock is going up! I thought I saw wrongly… but true, it is now 20 cents. The Edge magazine has a long story on the fund manager, Dr Pu Weidong, accumulating Sinopipe. Now has more than 8% stake.
I can’t believe that this pipe business is so great. Maybe I am wrong!
