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Chemical is HOT!
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alvinwong1012
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06-Jun-2007 14:42
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Seem to make a rebound after touching 2.30 on Monday..proabably undervalued stock given the production capacity as stated in Kayhian report...Still relatively far away from TP of 3.20 ...Cheers! | ||||||||||||||||||||||||||||||||||||
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alvinwong1012
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04-Jun-2007 18:29
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Despite the optimism of this counter by few broking house, the price has been dropping from last week high of 2.61 to 2.30.. See report on Kayhian recommending a buy at 2.30 with TP 3.20....anyone care to comment? Thanks. |
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ozone2002
Supreme |
23-May-2007 22:07
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yeah baby..my jiutian..9 heaven..keke... this baby has the backing of AIG!..merril lynch..!... love u big bois.. go go go chiong to 9th heaven for me.. :) |
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iPunter
Supreme |
23-May-2007 20:31
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This superb performer shows that if one picked the right 'horse', and stays with it through thick and thin, the rewards can be great. |
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fruitty
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23-May-2007 17:41
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hi, can i know what 'x' means? just figured out today how to use LP2 in poems today.
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wizardad
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16-May-2007 23:27
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Jiutian has potential. I bought 5 lots @$0.57. Sold one lot and holding. C&O also upcoming...... I brought at $0.37...........
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ozone2002
Supreme |
02-Apr-2007 09:59
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if i were to choose..sunvic has the makings of becoming the next jiutian.. however with the support of financial instituitions .. i will go for jiutian... the choice is still up to u... good luck ;p vested @ $2.15 see 1st post.. |
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ed88ks
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02-Apr-2007 09:52
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Ozone, you are vested in this counter? what is your target price? compare this with sunvic , which one has better potential? |
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ozone2002
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02-Apr-2007 08:55
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JIUTIAN, e2 remains a BUY with target price $3.50 - Newly unveiled methanol strategy an important expansion step. Jiutian has unveiled details of its methanol strategy, which we believe is an important step forward for the company, as it: * serves to secure a stable and cost effective supply of methanol for its production of DMF; * reinforces its ability to expand its footprint and expertise into other methanol-based fine chemical products; * potentially allows it to move into the alternative energy field, of which methanol is considered one of the more viable options in China; * allows the company to take advantage of firm methanol prices, by selling methanol to external parties. - Project details. The methanol project will be a joint venture between Jiutian and its former parent and SOE, Anyang Chemical. * Jiutian will take a 51% stake in the project, Anyang Jiulong, with former parent and SOE, Anyang Chemical, the remaining 49%. * The project will have a design capacity of 200,000 tonnes and operational capacity of 250,000 tonnes, plus facilities for high-pressure steam production and power generation. * The total cost of construction is estimated at RMB600m, with RMB400m financed by equity (RMB204m from Jiutian and RMB196m from Anyang Chemical) and the remaining RMB200m by project financing loans. * Construction is expected to take 15 months, with commercial production to expected to commence by 1 June 2008. * Costs breakdown: RMB410m for the methanol production facility, RMB115m for the high-pressure steam facility, RMB75m for the power generation facility. * Of the planned 250,000 tonnes methanol output, 160,000 will be contracted to supply Jiutian's expanded DMF production facilities, with the remaining 90,000 tonnes sold to external parties. - Demand for methanol is increasing. Demand for methanol in China has been increasing due to the country's strong economic growth, which gave rise to robust end-user demand, and more recently, the use of methanol as an alternative energy source. With coal being an abundant resource in China, especially in the provinces of Henan, Shanxi, Shaanxi and Inner Mongolia, the Chinese government has been promoting the use of coal-sourced alternative energy. Shaanxi and Shanxi have already begun to convert to public transport vehicles powered by methanol instead of gasoline. In November 2006, the Chinese government announced a new methanol policy, setting a new methanol standard, M100, as an automotive fuel. Along with the new policy, the government is working towards making M100 available in fuel distribution and sales points across China, thus further increasing the demand for methanol. - Raising estimates and target price. With methanol prices stabilizing at around the RMB2,700/tonne level, we are updating our assumptions from RMB2,400/tonne to RMB2,700/tonne. In addition, we expect that the new methanol capacity will lead to further economies of scale, enabling the Jiutian to lower its production cost and expand margins. We had earlier factored in a potential methanol-related development into our estimates, as the company's current methanol capacity of 65,000 tonnes p.a. will be insufficient when the new DMF capacity comes online. However, in light of the newly disclosed methanol project details and firm methanol prices, we are raising our FY12/08F estimates 6% to RMB324.5m. Although the bulk of the benefits will not be reflected in the company's profits until FY12/09F, when the full contribution from the new 250,000 tonnes p.a. methanol plant kicks in, we believe that the project gives the company more stability and predictability as it reduces its susceptibility to methanol's fluctuating prices and supply. It also provides the company with more options in its expansion strategy going forward. As a result, we are raising our target price to S$3.50 based on 15x our FY12/08F estimates, which translates to an upside of 63%. Reiterate BUY. |
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candle
Member |
30-Mar-2007 12:27
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On 15 February 2007, the Board of Directors of Jiutian Chemical Group Limited (the "Company")announced that the Company has entered into three separate Placement Agreements (the"Placement Agreements") with Legg Mason International Equities (S) Pte. Limited (?Legg Mason?),DBS Vickers Securities (Singapore) Pte Ltd ("DBS Vickers") and SBI E2-Capital Asia SecuritiesPte Ltd ("SBI"), pursuant to which Legg Mason has agreed to subscribe for 6,000,000 of thePlacement Shares and DBS Vickers and SBI have agreed to subscribe or procure subscribers for a total of 8,980,000 and 8,000,000 of the Placement Shares respectively at a placement price ofS$2.07 for each Placement Share. |
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ozone2002
Supreme |
30-Mar-2007 10:27
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jiutian also had a placement early mar can't remember the price..think it was 2.05.. this chemical coy is huge man..JV-ing with other coys and gg into expansion.. definitely worth the investment |
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xtrios
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30-Mar-2007 09:29
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some recent news. Jiutian Chemical - Enters JV for methanol facility Yeo Sue En, 28 Mar 2007 Jiutian Chemical has entered a Joint Venture with Anyang Chemical Industry (Anhua) to build a RMB 600 mln methanol manufacturing plant. It will own 51% of the JV company Anyang Jiulong Chemical Co. The project will also produce its own steam and power. Production will start by 1 June 2008. |
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tanglinboy
Elite |
30-Mar-2007 09:26
Yells: "hello!" |
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Please explain why! | ||||||||||||||||||||||||||||||||||||
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ozone2002
Supreme |
30-Mar-2007 09:09
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Accumulate la.. damn good potential... vested at $2.15 |
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