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Foreland Fabrictech
22-03-2011, 03:08 PM.
Post: #21
RE: Foreland Fabrictech
Based on the high-volume transacted today - so far already over 7.0m shares! - it certainly looks like Foreland is among the first PRC stocks to recover from the recent sell-down. Great!

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23-03-2011, 10:01 PM.
Post: #22
RE: Foreland Fabrictech
Today (23Mar11), NextInsight posted a note on CIMB's comparison of and investigations into 4 PRC-based yarns/textiles producers, including Foreland.....

It looks like Foreland has passed CIMB's test. I am happy to note that CIMB has maintained a 'BUY' call on Foreland, with a target price of $0.25.

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27-03-2011, 07:49 PM.
Post: #23
RE: Foreland Fabrictech
Are there any news concerning the new factory ??

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27-03-2011, 08:11 PM.
Post: #24
RE: Foreland Fabrictech
(27-03-2011, 07:49 PM)cosvalue Wrote: Are there any news concerning the new factory ??

It has been delayed since quite a while back.

Major production premises of the Andong Project will be completed in the third quarter of the financial year 2010 as announced in December 2009. However, the Company expects the commencement of commercial production at the new production facility and the completion of staff dormitory will be delayed.

Essentially, the delay is due to the lack of approval by the local environmental authority for the environmental assessment of the whole Andong Industrial Area (the “Environmental Assessment”). It appears that the setback is caused by the recent spate of massive industrial pollution in the Fujian Province that has resulted in tighter scrutiny by the local environmental authority over its granting of approval for the Environmental Assessment. Our new production facility, located in the Andong Industrial Area, is inevitably subjected to such stricter and revised evaluation by the authority.

Accordingly, the Company shall temporarily put on hold the construction works of wastewater treatment facilities until the finalisation of the revised evaluation for the Environmental Assessment.

Furthermore, Fujian Province had a high frequency of rainfall for the first and second quarter of the financial year 2010, bringing the Province a volume of rainfall that far exceeded the usual amount in the same period. It has affected the overall progress of the construction and the completion of staff dormitory.

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06-04-2011, 06:53 PM.
Post: #25
RE: Foreland Fabrictech
The just released FY10 (ended 31Dec10) AR makes interesting reading.....

Based on Foreland's very strong revenue/profit turnaround and quater-over-quarter revenue/profit increases in FY10 - clearly described in the revenue, NP and Profit Margins graphs in p9 of the AR - it is reasonable to believe that the strong growth momentum will continue into 2011. It is also reasonable to believe that Foreland is poised to record a substantial profit increase in FY11.

Furthermore, the last para (re-produced below) of the Chairman's Statement by Tsoi Kin Chit, Executive Chairman, does offer great optimism for Foreland shareholders and would-be investors....

"I assure you that the Board will work hard to
make FY2011 a remarkable year for the Group
and I look forward to bringing you even better
news in the next annual report."

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18-04-2011, 08:30 AM.
Post: #26
RE: Foreland Fabrictech
Foreland has announced it wishes to seek a dual listing on KRX (Korean Stock Exchange). They will be issuing new shares to raise money for expansion.

Another S-Chip going the dual listing way? Seems this option continues to remain very popular. Last company to dual list, for the record, was Techcomp.
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18-04-2011, 01:28 PM.
Post: #27
RE: Foreland Fabrictech
Based on this morning's announcement on Foreland's plan to seek a dual primary listing of its ordinary shares on the Korea Exchange (“KRX”)..... [Announcement] [Press release]
, it appears that Executive Chairman Tsoi Kin Chit has an ambition to uplift Foreland's business to a much higher level in capital base, scale and market coverage.

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19-04-2011, 08:11 AM.
Post: #28
RE: Foreland Fabrictech
Business Times - 19 Apr 2011

Foreland plans dual listing on Korean bourse

This may be via new shares or depository receipts issue


FORELAND Fabrictech Holdings - a China-based vertically integrated manufacturer of functional and normal fabrics - intends to seek a dual listing on the Korea Exchange (KRX) to complement the company's long-term growth and development plans.

The Singapore Exchange mainboard-listed company said it has appointed Hana Daetoo Securities as its representative bookrunner and may undertake the proposed dual listing via the issuance of new shares or depository receipts.

'The proposed dual listing on the KRX offers an alternative listing platform for our group to tap into one of Asia's most dynamic equity markets for fund raising, and the opportunity to further broaden and diversify our shareholder base,' said Tsoi Kin Chit, founder and executive chairman of Foreland Fabrictech.

Mr Tsoi added that the dual primary listing status in both Singapore and Korea will boost the group's international profile and give it greater exposure to a broader range of private and institutional investors.

Foreland Fabrictech intends to use the additional capital raised from the proposed dual listing to fund further business advancement activities, such as upstream expansion, organic growth, mergers and acquisitions, joint ventures and strategic alliances.

The proposed dual listing is subject to approval from the relevant authorities as well as to prevailing market conditions and circumstances.

No application has been submitted to the KRX yet, the group said, adding that it will continue to provide updates on the progress of the proposed dual listing and, if required, will convene an extraordinary general meeting to obtain the necessary shareholders' approval.

Foreland Fabrictech's products are mainly marketed under its award winning 'Fulian' brand and are primarily sold to apparel manufacturers in China mainly for export to overseas markets such as Europe, the US and the Middle East.

Its functional fabric products have also been used to manufacture apparels under reputable brand names such as 'Li-Ning', 'Anta' and 'Edenbo' in China as well.

In the past couple of years, Foreland Fabrictech diversified into the high-grade umbrella fabric business by investing time to build up business ties with prominent umbrella manufacturers in China.

All of which seems to have paid off as umbrella manufacturers now make up about 30 per cent of its customer base, diversifying the group's earnings stream.

NRA Capital currently has a 'buy' call on the stock with a target price of 19 cents.

The stock closed unchanged at 13 cents yesterday.

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28-04-2011, 07:58 PM.
Post: #29
RE: Foreland Fabrictech
Today (28Apr11), Foreland has issued a positive Business Update.....

While in the announcement Foreland has clearly indicated that Q1-FY11's revenue and PBT are expected to be higher than the comparable figures for Q1-FY10, it will be really great if the Q1-FY11 figures can come in ahead of those for Q4-FY10, as this will confirm the underlying strength of the current business recovery and the strong demand that supports it.

We shall know it by 15May11.

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09-05-2011, 06:05 PM.
Post: #30
RE: Foreland Fabrictech
The just released Q1-FY11 results should make most Foreland shareholders jumping up and down with great excitement..... [Results announcement] [Press release]

It is indeed very rare to find an example of such sharp business and profit recovery! It shows Foreland's high-quality functional fabrics are enjoying very strong demand, and it appears that there is room for further volume and price increases.

Based on the latest numbers, Foreland's revenue and NP are running at in excess of Rmb 610.0m and Rmb 110.0m a year, respectively. If realized in FY11, these numbers would surpass those pre-crisis highs!

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