China New Town -- Worth a Punt ?

They completed the placement to their parent company. They have new funding, which should help them to tide over 2009. - Completed Luodian D2-2 land sales contributed revenue of approximately RMB270 million for 2Q2009 - Entered into agreement with Agricultural Bank of China of 6 years working capital loan facility - Cash and cash equivalents approximately RMB 72 million - Completed placement to the major shareholder in exchange of cash proceeds of S$29 million equivalent Singapore and Hong Kong, 15 May 2009 – China New Town Development Company Limited (“CNTD” or the “Company”) announced its 1Q2009 results, recorded a net loss of RMB38 million for 1Q2009 due to lack of sales of land infrastructure. CNTD’s performance is primarily determined by how fast they can turnover the land allotted by the government and achieved the selling prices at public auctions of land use rights. On 9 April 2009, Shanghai Golden Luodian Company Limited, project company of The Group’s Shanghai Luodian New Town has entered into agreements with the Agricultural Bank of China, Baoshan Branch to replace the existing short term loan facilities of aggregate principal of RMB1.137 billion by a 6 year new working capital loan.

reading thru the postings in this thread gave me an adrenaline rush. wahbiang, stock was 3.5 cents only 7 months ago, now 12 cents, and people like MacGyver were right abt the multibagger potential. so now, what do the gurus say? Is CNT gonna continue to climb or not?

Have just rediscovered this interesting thread with good postings. Noticed that China New Town has moved at the speed of glaciers since the last posting when it was at 12 cents. Now 14 cents - thanks largely to a share buyback of 10 million shares at 14 cents last Friday. Land owner in China moving so slow - still very undervalued.