commodities

CNMC Goldmine announces near-trebling of 1Q earnings to $1.9 mil on higher gold output
SINGAPORE (May 14): CNMC Goldmine Holdings posted earnings of US$1.4 million ($1.9 million) for 1Q19, the group’s highest quarterly profit attributable to shareholders since 3Q16, and nearly triple of its earnings of US$0.5 million a year ago.   The bottomline growth was largely attributed to a rise in gold output as the group’s flagship Sokor project in Kelantan, Malaysia, generated ...
Gold powers to 6-month high as turmoil spurs demand for haven
SINGAPORE (Dec 31): Gold is rallying into the end of 2018 as turmoil in global equities, the partial US government shutdown and concerns about the outlook for next year stoke demand, lifting prices to the highest in six months. Bullion climbed as much as 0.4% on Wednesday, extending last week’s gain and on course for the biggest monthly advance since January 2017. Money managers are the most ...
CNMC Goldmine's dual listing plans rejected by Hong Kong Stock Exchange
SINGAPORE (Dec 24): CNMC Goldmine Holdings says plans for a dual primary listing in Hong Kong has been rejected by the Mainboard of the Hong Kong Stock Exchange (HKSE).   This comes after the group’s application was reviewed by the exchange’s listing committee and ultimately, deemed unsuitable as CNMC’s market capitalisation failed to meet the requisite minimum of sum of HK$500 ...
Will Wilmar's stricter environmental controls bear fruit?
SINGAPORE (Dec 11): Wilmar International last week signed a joint statement with Aidenvironment Asia, a not-for-profit consultancy in the field of sustainable production and trade, to reaffirm its commitment to “break the link between oil palm cultivation and deforestation, peatland development and social conflicts”. The Dec 7 document was primarily signed between Wilmar chairman and CEO ...
World's top activist fund sets eyes on one of Singapore's banks
SINGAPORE (Aug 28): The world’s best-performing activist fund returned 103% in seven months by targeting mainly smaller Asian companies in industries from commodities to engineering and food. Now, it’s getting ready to take on one of Singapore’s banks, according to Judah Value Activist Fund’s July newsletter obtained by Bloomberg. “We are building a bigger position in this bank ...
Ongoing market uncertainty makes it all the more opportune to 'buy' this stock
SINGAPORE (July 4): RHB Research is reiterating its “buy” call on Wilmar International with an unchanged target price of $3.59, while highlighting ongoing market uncertainties and the recent retracement in share price as a good opportunity to accumulate the stock. The research house has left its forecasts largely unchanged despite recent concerns of a trade war emerging between US and ...
IndoAgri's 1Q earnings plunge to $4.8 mil on commodity price declines
SINGAPORE (Apr 30): Integrated agribusiness group Indofood Agri Resources (IndoAgri) reported earnings of Rp 49.8 billion ($4.8 million) for the 1Q18 ended Mar, down more than threefold from Rp 170.6 billion a year ago on lower sales volume and selling prices of palm products. Revenue for the quarter fell 27.1% to Rp 3.2 trillion from Rp 4.4 trillion in 1Q17 after lower sales contribution from ...
Noble Group sweetens debt restructuring deal, gets founder's backing
SINGAPORE (Apr 16): Noble Group improved the terms of its controversial $3.4 billion debt restructuring deal and won the support of its biggest shareholder as the commodity trader seeks to complete the vital transaction. Singapore-listed Noble's debt-for-equity swap has already won the backing of more than 83% of the holders of its senior debt but it also needs a majority of its shareholders ...
Goldilocks says Noble's restructuring plans 'doomed to fail' unless group addresses proposal flaws
SINGAPORE (Apr 6): Goldilocks Investment Company, which owns an 8.1% stake in commodities trader Noble Group, says the latter’s currently proposed debt restructuring plan is “doomed to fail” unless it is redesigned to address a number of “serious flaws”. In a press statement on Friday, the Abu Dhabi-based fund starts off by applauding Singapore Exchange Regulation’s (SGX RegCo) ...
CNMC Goldmine's Sokor project upgraded to 724,000 oz of gold resource
SINGAPORE (Mar 22): CNMC Goldmine announced that a recent independent review has estimated that its Sokor flagship project in Kelantan, Malaysia, contains 724,000 ounces (oz) of JORC-compliant gold resource in the ground, the highest on record since the group started exploration in 2007. The assessment made by Australia-based Optiro as at Dec 16 2017 was 16% more than the 623,000 ounces of ...