Shares & Derivatives
After a company visit yesterday……I am adding Sinomem to my stock pick list……find out why
By Kevin Scully-Financial Blog  •  June 5, 2009
[caption id="attachment_2650" align="alignright" width="150" caption="Photo by big-ashb"]Photo by big-ashb[/caption] Bearing in mind the problems facing S-Chips in Singapore and that I was looking for "good" S-Chips to invest in because China remains one of the few global economies to still register positive GDP growth. My so called safe S-Chips would include Straco Corporation and Midas. I used to own Sinomem before and remember selling the shares at the $1.00 level only to see them rise to a high of $1.60. The shares are now trading at the $0.17 to $0.18 level. Several factors contributed to the share price: a) the loss in FY2008 of S$0.7mn from a profit of S$33.1mn in FY2007 mainly from impairments and problems at Reyphon b) concerns about S-Chips and the integrity of their balance sheets c) fund manager redemptions in the shares. Read more...
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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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