2009 results saved by writeback, fair value gain, forex gain....Sigh! Other operating income for the financial year ended 31 December 2009 was higher at approximately S$22.5 million compared to S$8.6 million for the corresponding period. These were largely attributable to trade receivables impairment write back of S$6.9 million, fair value gain of the financial asset, at fair value through profit or loss of S$1 million and gain arising from consolidation of S$13.5 million, offset by decrease in interest income by S$3.5 million and an exchange gain of S$4.7 million in 2008 not in 2009.
Major shareholder General Nice bought 10 m shares of Abterra. Now holding 40.1%, which is 2 billion shares. See announcemnt on SGX last nite Positive sign?
recently, i read about another co seeking dual listing but not allowed. cannot remember details. can someone confirm if abterra can seek dual listing in HK? Also, recent big purchase - is it related to china \"not allowed\" to sit in on some international iron ore meeting??? Hope, some experts can comment on these two issues.thanks
Dear LGH: You may be referring to MAP Technology, whose application to list TDRs in Taiwan didnt receive the OK because its 2009 results were a loss. As for Abterra, it did say that it would be seeking a dual listing (or somehting to that effect) but that was some time ago and nothing has materialised so far. Not sure why you made the link between the Abterra major shareholder\'s share purchase and the international meeting. I cant see the link.
Between Mar 15 and Mar 25, General Nice Resources (the majority shareholder of Abterra, with over 40% stake) bought 40 million shares in the open market. At let\'s say 5 c a share, the purchase would have amounted to $2 m. Sign of an undervalued business? At end 09, the company had only $3 m in cash & cash equivalent and $73 m in borrowings..... REcently they secured an equity line financing of $20 m - give me cash and I will issue you new shares. The participant must have confidence in the share value of Abterra to enter into this partnership.
My friend told me her shares in this company has been loaned to others by SGX, something is happening, I am think of loading up this one.
The direct has been buying from the open market Change in shareholdings as a result of open market purchases by General Nice Resources (Hong Kong) Limited (GNR) on the following dates:-
i) 16 March 2010 Purchase of 4,000,000 shares. ii) 17 March 2010 Purchase of 4,000,000 shares. iii) 18 March 2010 Purchase of 7,000,000 shares. With the open market purchases, the total number of shares held by GNR in Abterra Ltd. had been increased.
As a result, Mr Cai Sui Xin's deemed interest in Abterra Ltd. was increased. Cai Sui Xin (Cai) has a deemed interest in the shares of the Company held by GNR by virtue of Section 7 of the Companies Act, as
(i) Cai is the legal and beneficial owner of the entire issued share capital of Vantage Region International Limited (Vantage); (ii) Vantage is the legal and beneficial owner of more than 20% interest in General Nice Development Limited (GNDL), and (iii) GNDL is the beneficial owner of more than 50% interest in GNR.
Last edit: 13 years 2 months ago by niadmin. Reason: formatting