Latest Forum Topics / SunVic Chemical | Post Reply |
To Hold or Sell?
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OddEye
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07-Oct-2010 18:04
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Better to hold. I am closely watching this stock now. I personally think it will rise in few weeks time | ||||
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freezy_81
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07-Oct-2010 17:26
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Rose to 0.48 closing. Should I hold or sell? Please advise... |
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freezy_81
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28-Sep-2010 16:26
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Price went down today...sianzz. | ||||
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freezy_81
Member |
27-Sep-2010 11:16
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Slow & Steady... | ||||
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lsj840428
Senior |
22-Sep-2010 19:21
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SunVic bullish about demand, earnings CHEMICALS firm SunVic Chemical expects third-quarter profit to be similar to about 100 million yuan (S$19.9 million) in the previous quarter and said a new cracking plant could add US$400 million to its revenue next year. The firm hopes for an average selling price of around 15,000 yuan per tonne for acrylic acid (AA), a core chemical which is used to manufacture detergents, baby diapers and other products, chief financial controller Lim Jin Sin told Reuters. 'For third quarter, if the selling price is 15,000 yuan, by right I should still be able to maintain profitability as second quarter, which was around 100 million yuan,' Mr Lim said. He added that the costs of raw materials for AA production have been relatively stable at around 9,000 yuan a tonne in the last two quarters. SunVic reported a second quarter net profit of 103.5 million yuan, almost a seven-fold jump from a year ago, on the back of higher average selling prices and sales volume of AA. It posted a revenue of 820.4 million yuan in its April-June quarter. The firm expects to complete a cracking plant in China's Jiangsu province this year, which could produce 150,000 tonnes of propylene every year, a key raw material for AA. The plant will also be able to produce gas oil, petrol and liquefied petroleum gas. 'These petroleum-related products will give us additional stream of revenue with profit contribution, and the propylene output will be consumed internally, which will give us some cost savings in terms of lower raw material costs and freight and storage charges,' Mr Lim said. Mr Lim said he expects an additional US$400 million in revenue next year from the sale of the petrochemical products to distributors in China. He sees a 15-20 per cent annual growth in demand for AA in the China market for at least the next three years as he said the chemical and its derivative has diverse applications across various industries such as textiles and plastics. Around 80 per cent of the firm's AA production caters to the China market, and the rest for United States, Europe and other parts of Asia. The company counts Germany's BASF and Taiwan's Formosa Chemicals and Fiber Corp as its competitors. Shares of SunVic closed down 1.2 per cent to 41.5 cents in Singapore with a volume of 4.2 million shares. But the stock has risen 144 per cent so far this year. -- Reuters |
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lsj840428
Senior |
22-Sep-2010 17:45
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today is no longer quiet ...........
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freezy_81
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21-Sep-2010 15:03
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seem quiet this few days...any advice? |
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lsj840428
Senior |
18-Sep-2010 11:21
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this counter is really amazing.......bought it at 43 cts two yrs back can now almost break even my entry point.....lucky enough i have yet to sell it.....let see if their net profit for yr 2010 is able to pierce 300 mil CNY, a target i heard since 2008....the first half of 2008 was really good until they can estimate a net profit of 300 mil CNY too. BUT, somehow dont knw what was taking place, the second half was just disappointed.....after Q3 result is released then we would have a better picture if 300 mil CNY net profit is attainable for 2010....
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StonePlus
Member |
17-Sep-2010 10:42
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Encourange to BUY some more.....!!!! | ||||
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StonePlus
Member |
17-Sep-2010 10:41
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SunVic Chemical Eyes Record Annual Profit As Sales Prices Grow By Frankie Ho Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)--SunVic Chemical Holdings Ltd. (A7S.SG) is on track for a record profit in 2010 on the back of higher selling prices, and earnings growth is set to remain robust in coming years helped by cost savings. The Jiangsu-based Chinese company, which makes acrylic acids and acrylate esters, expects a net profit of at least CNY300 million (S$60 million) this year, compared with just CNY4 million in 2009, when sales were hurt by the global economic downturn, financial controller Lim Jin Sin told Dow Jones Newswires in a recent interview. SunVic's highest annual profit so far is CNY175 million, achieved in 2005. Singapore-listed Sunvic is counting on firm demand and higher selling prices for its chemicals, which are used for making various industrial and consumer products such as adhesives and diapers, to drive growth. Earnings in the first half rose more than six times to CNY156 million from CNY25 million in the same period last year, exceeding the average annual profit of CNY100 million between 2006 and 2008. "Outside of China, there is not much new production capacity (for our products). All the new capacity is coming from China, and it's supplying to meet worldwide demand," Lim said. "As a result, there's less likelihood that selling prices will go back to the crisis levels of the last two years. We are now enjoying what we call more reasonable margins" of about 20%, he added. The average monthly selling price of acrylic acids, SunVic's main product, was CNY13,000 per ton in the second quarter, up from CNY9,000 between January and March. Prices have since continued climbing, Lim said. "The main reason is that a lot of our downstream customers in the industrial and consumer product industries are doing pretty well." One of SunVic's key earnings risks is potentially higher raw material costs. "Our main concern is on the volatility of raw materials prices and products selling prices," said Phillip Securities analyst Lee Kok Joo. To mitigate this risk, SunVic is building a cracker plant to produce propylene, a key ingredient for making acrylic acids. When fully operational next year, Lim expects annual cost savings of at least CNY100 million, giving an additional boost to SunVic's bottomline. The company is also planning two additional plants to increase production of acrylic acids, with the first expected to be completed in 2012. Both projects are expected to cost about CNY900 million, Lim said, with part of the funds likely to be raised from the market. "If our share price reaches a reasonable level, I guess something we would seriously consider is raising some capital from the market. Equity fund raising is something we are looking at now." The executive didn't mention what he sees as a 'reasonable' level. SunVic's shares are up 144% so far this year, closing up 2.5% at S$0.415 Thursday. -By Frankie Ho, Dow Jones Newswires; +65-6415 4160 END) Dow Jones Newswires September 16, 2010 21:17 ET (01:17 GMT) Copyright (c) 2010 Dow Jones & Company, Inc. | ||||
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Hulumas
Supreme |
10-Sep-2010 09:56
Yells: "INVEST but not TRADE please!" |
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HOLD.
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june_snowy
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10-Sep-2010 07:58
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YES!!!! I noticed it too. Hehehe...Finally and hopefully will hit 0.65 soon.. Perhaps BBs see potential in this babe and starts to whop up slowly hence the price shoot up too... : ) |
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susan66
Master |
10-Sep-2010 01:30
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Curious nobody notice this? Woke up around 0.335 cheong all the way till today 0.405, still holding on tight! | ||||
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happytrading
Member |
13-Aug-2010 12:30
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Today Sunvic is a disappointment Any advice Thanks
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susan66
Master |
13-Aug-2010 00:50
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Oops correct my error, noticed it since 0.22 when it breaks up, not 0.32.
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susan66
Master |
13-Aug-2010 00:45
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I am confident it will cheong soon, very nice chart. Noticed it since 0.32, surging all the way. Next round may be better. | ||||
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happytrading
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12-Aug-2010 23:28
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WOW!!! Hope it will cheong tomorrow
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lsj840428
Senior |
12-Aug-2010 23:09
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net profit surged significantly for Q2......872% amazing.....
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lsj840428
Senior |
11-Aug-2010 19:41
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dun no. since the day i noticed it has been surging, there is no one able to unfold wat is happening in this counter.....
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tchoonw
Veteran |
11-Aug-2010 10:59
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this bugger moving everyday...got news? | ||||
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