Nordic Group

[Bluechipfan]

NORDIC CLINCHES INSULATION CONTRACTS WORTH SGD 3.7 MILLION    

Austin Energy (Asia) Pte Ltd (Austin), wholly owned subsidiary of Mainboard-listed Nordic Group Limited (Nordic Group), has been awarded three contracts with value totalling approximately S$3.7 million to provide labour and materials to perform insulation works for Ichthys Field Development Project and Ivar Aasen Project. Initial phases of the contracted works for Austin have commenced in Q2 2015 and these projects will continue up to Q1 2016.  The above contracts are not expected to have material impact on the net tangible assets and earnings per share of Nordic Group Limited for the current financial year.    

BY ORDER OF THE BOARD  
CHANG YEH HONG
EXECUTIVE CHAIRMAN
25 JUNE 2015

I have been buying from 13 cents to 19 cents. Average price around 16 cents. Still queuing to buy at 18 cents but tempted to queue at higher price because I scare a breakout from current consolidation. I like the dividend policy, the visibility in the earnings and the fact that management put their money where their mouths are. They have been buying big chunk of shares using their personal fund and it bode well. I hope the price don't move so fast as I waiting for my bonus to come in to buy more. Hopefully I don't have to buy at much higher price.

I have accumulated the desired amount of shares I wanted and my average price is almost 20 cents. The reason to invest besides what's mentioned above is also that the management seems to have clear idea of growing the company through good acquisitions. The latest results should be announce soon.