Sapphire Corp

Sapphire paid 1 - c final dividend last year. If they repeat it this year, it will be a good yield of 6+%. Can sustain cos the cash balance is strong.

At first blush, the 1-cent dividend should be affordable by Sapphire. In fact, they can afford to pay more.....

The relevant part in SIAS' report is :
Sapphire’s cash flow remains robust with S$6.1m and S$22.2m of operating cash flow before working capital changes for 3Q 2011 and 9M 2011 respectively. The company has also recalled S$35.4m of loans made to associates and affiliates thus far this year.
 
We updated our forecasts to reflect 3Q’s performance and the planned increase in investment in Special Steel over Weiyuan. However, we are maintaining our valuation at S$0.600 as per our previous update until the deal is finalized.
The valuation of 60-cents seems too optimistic (compared to stock price now of 18 cents) but he is entitled to his opinion. LOL.

You may view the entire report (very chim, I should say) at www.sapphirecorp.com.sg/misc/SAPP_221111.pdf

Question 2: Are you aware of any other possible explanation for the trading?

Answer 2 : The Company and the Board are not aware of any other possible explanation for the substantial increase in the price of the Company's shares today.

A star is born.

Called Sapphire

Sapphire up to 21 cents now, up from 16cents yesterday. Almost 35% in one single day. Amazing! More than 3 million shares traded. Sgx inquired why but sapphire says don't know...

SGX should call NextInsight -- who will say that it was James' 'fault'.
LOL