ShareJunction

Joined: 13 Jun 2007 Posts: 22

Beazer Homes USA, Inc. Issues Media Statement
ATLANTA, August 1, 2007-- Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) today offered the following media statement:

?We have become aware of rumors circulating in the market about Beazer Homes' liquidity and a prospective bankruptcy filing. We do not know where these scurrilous and unfounded rumors started. For an accurate representation of the company's financial position, including the company's liquidity and near-term prospects, we encourage investors to refer to the company's recently released third quarter earnings release and the script of our conference call with analysts and investors.?

Contact: Leslie H. Kratcoski
Vice President, Investor Relations & Corporate Communications
(770) 829-3764
lkratcos@beazer.com

Joined: 20 Apr 2007 Posts: 1097

CEO Dr.Anthony,former general practioner,has shepherded successfully several start-ups to market during his years as a private equity investor.He owns 52.7% in Jade and he started a medical device and a medical portal in the mid 1990s and was bought over with handsome profits..was a director of UOB Bio Ventures and helped set up UOB Bio Fund. He also set up Asia Growth Pte Ltd and remains as chairman and MD involves in investment holding and management.

In 2004 ,Dr.Soh successfully listed Cordlife ltd a co specialises in stem cell research and services in Australia and also China Medstar that specialises in cancer therapy and successfully listedon the UK's Alternative Investment Market in 2005.Dr Soh see Jade "s path to profitability lies in commodities and oil trading and expect Jade to be in the black this year. He also owns 30% of First Capital Growth Investment ltd(FCGIL) which saw revenues of S$760mil and has garnered an US $1.3 Billion and jade will be roped in to liase with the end purchasers of the Russian gas oil and assist in procuring storage and warehousing facilities for the gas oil..hence risk lies with FCGIL and not Jade but Jade will reap gross revenue $7.2 mil over the 12mth period and that this oil contracts is renewable year after year and DR.Soh stresses that" many more such contracts waiting for us" and Jade's profit margin from more such contracts could be very high.

Dr Soh claims Brian Beazer, Chairman of Jade has been involved in property and construction since 1956 and is a chairman of Beazer Homes USA Inc a residential property developer listed on NYSE. Chairman since 1996 with Jade,Brian is also a chairman of Jacuzzi Brands which makes plumbing products and NumereX Corp,a maker of communication products listed on Nasdaq.Hence Brian will provide good guidance to build >$200mil project within the Iskandar Development region in Johore, building a hospital,nursing training college,retirement resort and a hotel.

Altough Jade has aborted the IT ventures, it has intended to acquire a copper mine to enhance its existing lead frame maker and Soh points out that Jade's existing leadframe maker is still a US 6 billion business globally and that there are only 10 players worldwide and Jade is one of them.Jade was previously hit by rising raw material price especail copper and the intended purchase of a coppermine in Australia or Indonesia would prevent eroding of Jade's bottomline.What a good foresight..with new management team and new ideas especially incumbent Dr.Soh..Jade will soar again

Jade will be turn into an energy,commodities and real estate player.Hence its run up in share price is reasonable although analysts commented on its past losses but what the market looks for is its future potentials/investments especially with two successful giants Dr.Soh and Brian Beazer at its helm.strong buy for accumulation..may be another Keppel Corp

Back to top