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Superior Product and a case of market inefficiency
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hotstock
Veteran |
04-Dec-2008 10:34
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Of Liheng, ChinaSky, C&G, SinoTech, Hongwei, I have chosen this counter for its consistent result and longer listing history in SGX. Although it fare fall worst in terms of market price (24.5 compare to LiHeng 30, ChinaSky 26.5), it is very disappointing. However, it has already bottom, I am not sure when it will start to pick up... maybe afte CNY..... I hope my big wins with this counter can start again from 2009.... |
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hotstock
Veteran |
11-Nov-2008 14:06
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I just wonder what the market knows about this counter. Compared to Li Heng, China Sky and even SinoTechfibre and china fibretech, this counter is a real embarassment. Can anyone point to me where exactly is not going right for this counter. Even GK is calling a 96c buy. I think it should be around 50c target at least.... Hey directors are you sleeping? |
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hotstock
Veteran |
05-Nov-2008 11:31
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I am optimistics that it will break 30c in a day or 2 and cruise to 35c before reaching medium term target of 45c. It is lacking behind its peer Li Heng and China Sky. Even Sinotechfibre, Hongwei climbs up alot. It has no reason to be behind as it is better player |
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stupidfool
Senior |
04-Nov-2008 14:50
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Current FC px is about the lowest it can go.It will be good px to accumulate now. Good thing of FC is that it has low debt.Look what happen to Ferro China when it has huge debt. Just my opinion only. |
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hotstock
Veteran |
04-Nov-2008 13:01
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Bad news: Fibrechem said average selling prices for fiber products declined as costs rose in the third quarter as a result of higher priced feedstock. It added that its fixed overhead also increased during the quarter due to new long fibre and microfibre leather lines added at the end of June. Good news: The group has managed to maintain its profitability in the first nine months of 2008, amid higher cost of sales and operating costs. While the downward pressure on average selling prices for fiber products is expected given current market conditions, we have not experienced any cut-back in orders from our customers," FibreChem executive chairman James Zhang said in the statement. The company said all expansion plans are on track for completion in the first half of next year. It said a 100,000-ton-per-year differential polyester chip production facility is expected to be mostly complete by the end of 2008 and a 20,000-ton-per-year low-melting-point short fiber plant is expected to start trial production by the second quarter of next year. Additionally, it said it will launch a 20,000-ton-per-year long fiber facility, depending on market conditions. We have begun market trials for our new fiber products and are confident that once they enter commercial production, it will mitigate possible unfavorable impact on our existing fiber businesses and generate sustainable growth for the group Fibrechem said it is actively developing its uniform microfiber leather business and the utilization rate of existing leather facilities is expected to improve in the fourth quarter of 2008. It said it expects to see continued growth in 2008, barring unforeseen circumstances. |
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hotstock
Veteran |
04-Nov-2008 12:45
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4 Nov 08, 1203 BROKER CALL - Fibrechem target price cut to 0.96 sgd - CIMB XFN-ASIA - CIMB cut its target price on Fibrechem Technologies to 0.96 sgd from 1.54 sgd after the company's earnings missed estimates. The brokerage said Fibrechem's 121 mln hkd third-quarter net profit was below its expectations and the consensus forecast, while the nine months earnings made up only 66 pct of CIMB's full-year forecast. "The key disappointments were slower-than-expected sales for key products, and an unexpectedly swift fall in commodity prices," CIMB said in a note to clients. However, it kept an "outperform" rating on the Singapore-listed firm as it is relatively cheap and the company's margins are expected to recover. |
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jackjames
Elite |
03-Nov-2008 11:56
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vested.. average price is 0.49... will try to buy more if it dips below 20 cents.. just be patience. |
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hotstock
Veteran |
03-Nov-2008 11:53
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Liheng - 29c Chinasky- 27c sinotechfibre -21c all up except fibrechem.. Dun be a disgrace that even sinotechfibre will catch up with you eventually. Anyone know why? |
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hotstock
Veteran |
03-Nov-2008 11:48
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All fiber companies fly today except this baby. A big sell q at 28.5 c is spoiling the party. Is this q real?? |
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hotstock
Veteran |
22-Oct-2008 10:22
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I read about recently coverage on this industry that fibrechem operates. Key competitors in SGX include Li Heng, and China Sky. As far as I know, fibrechem has superior products and widely accepted. Can the market inefficiency theory explain the price differential between fibrechem and the other 2 firms? Yes the firm is less liquid compare to Li Heng. All 3 firms are in net cash position. Anyone know something that I did not notice? Vested after recent price fall |
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