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Halcyon Agri Corperation
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Everyday
Elite |
06-Feb-2023 08:48
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Lifting of trading halt https://links.sgx.com/1.0.0/corporate-announcements/ZF8EX7LH4BI2B2I6/fe54fcfe3bcb6e171fe3ea26fa6ced0ebc1534712811026a9b50a66a39b455b7 |
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katak88
Master |
05-Feb-2023 10:38
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China Hainan Rubber launches mandatory conditional offer for Halcyon Agri at S$0.413 per shareFRI, FEB 03, 2023Sinochem International (Overseas) &ndash which still holds a direct interest in around 29.2 per cent of Halcyon Agri&rsquo s shares following the closing of the November acquisition &ndash has provided an irrevocable undertaking that it will reject the offer.
PHOTO: HALCYON AGRI
CHINA Hainan Rubber Industry Group said on Friday (Feb 3) that its wholly-owned subsidiary will be making a mandatory conditional cash offer for Halcyon Agri Corporation with an offer price of S$0.413 per share. The announcement follows the closing of an earlier acquisition, where the Chinese rubber producer acquired 36 per cent of Halcyon Agri&rsquo s shares, which would trigger a mandatory conditional cash offer for all the shares in the Singapore-listed company. Last November, Shanghai Stock Exchange-listed China Hainan Rubber said it was acquiring 36 per cent, or 574.2 million shares in Halcyon Agri at US$0.315 apiece, from substantial shareholder Sinochem International (Overseas). The closing of the acquisition took place on Friday. As a result of the share acquisition, the mandatory conditional cash offer is being made in compliance with the requirements of the Singapore Code on Takeovers and Mergers. The S$0.413 per share offer price is the Singapore dollar equivalent to the US$0.315 based on the exchange rate of US$1:S$1.3113 on Friday. The offer is conditional upon the offeror receiving valid acceptances, which will result in the offeror and concert parties holding more than 50 per cent of Halcyon Agri shares at the close of the offer. Sinochem International (Overseas) &ndash which still holds a direct interest in around 29.2 per cent of Halcyon Agri&rsquo s shares following the closing of the November acquisition &ndash has provided an irrevocable undertaking that it will reject the offer. According to the bourse filing, the offeror does not intend for Halcyon Agri to be delisted and privatised following the close of the offer. It is also unlikely that the offeror would become entitled to the right of compulsory acquisition, given Sinochem&rsquo s irrevocable undertaking to reject the offer. Separately, Halcyon Agri&rsquo s board said it has appointed Xander Capital as the independent financial adviser (IFA) to advise on the offer. Halcyon Agri shares last traded at S$0.405, before a trading halt was called on Thursday. |
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smallsgshare
Senior |
13-Aug-2022 12:10
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Halcyon Agri Reports H1 2022 Financial Performance Operating profit increased to US$26.6 million from US$8.8 million in H1 2021 Deleveraging plan slated to unlock further value in H2 2022 |
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spanky
Member |
13-Aug-2022 11:40
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https://links.sgx.com/1.0.0/corporate-announcements/KNER66ADNO6FGM5A/728423_HAC%20Results_H1%202022.pdf |
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smallsgshare
Senior |
25-Jul-2022 11:37
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Transaction in HeveaConnect General Announcement::PROPOSED TRANSACTIONS IN HEVEACONNECT PTE. LTD. (sgx.com) |
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LongXia
Veteran |
21-May-2022 15:03
Yells: "BBs never say why when they buy, never tell when they sell!!" |
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This bugger could be the black market uncles next target..... probably just before the half yearly results, they will make their move and go on the attack. Right now, no retailer take notice.....but you have to be patient... it is not going to be one month or two months.... it will run till final FY comes out, and provided no further wars and big virus outbreak... |
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Joelton
Supreme |
21-May-2022 13:50
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Halcyon Agri Q1 revenue up 18.9% on higher sales, average selling prices
REVENUE for Halcyon Agri : 5VJ 0% climbed 18.9 per cent to US$617.3 million in Q1 on the back of higher sales volume and higher average selling prices, the mainboard-listed company said in a business update on Friday (May 20).
The group&rsquo s earnings before interest, taxes, depreciation and amortisation (Ebita) rose to US$15.1 million in Q1, up around 5.6 per cent from the year ago period.
Gross profit margins went up by 20.8 per cent to US$47 million in Q1, from US$38.9 million previously.
Sales volume grew to 306,733 tonnes in the first quarter, up 5.2 per cent year on year.
The natural rubber supplier said that it recorded broad-based improvement across all its business segments, driven by higher sales volume and better unit margins.
&ldquo These are testament to our ability to capture market demand and enhance cost efficiencies effectively,&rdquo it added.
While the group&rsquo s upstream business unit Corrie MacColl Plantations made an operating loss in the first quarter due to the low yielding wintering seasons, the company expects the unit to improve in the coming quarters.
It has also begun tapping 2,500 ha of new plantation areas. &ldquo The progressive opening of new areas will contribute to increased production of 2,000 metric tonnes per annum in the initial year and will ramp up as the trees continue to grow,&rdquo said the group.
While the group is anticipating more headwinds in 2022 arising from geopolitical and inflation risks, Li Xuetao, Halcyon Agri&rsquo s chief executive officer, noted that demand for natural rubber remains sturdy.
&ldquo The expected ramping up of global mobility will also boost the usage of tyres and natural rubber,&rdquo he added.
Li noted that the volatility in rubber prices does not reflect the actual cost of production of natural rubber. &ldquo In the face of tightening supply, immediate collective action is warranted from the whole natural rubber industry.&rdquo
&ldquo The group maintains its view that the mid- to long-term supply and demand dynamics of natural rubber remain favourable, and will support its prices,&rdquo said Li.
It will continue to work closely with customers to navigate ongoing challenges, while maintaining a &ldquo tight and effective risk management framework&rdquo .
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fundamentalhero
Veteran |
21-Feb-2022 19:25
Yells: "I NEED HONEYS AND MONIES" |
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few of the strong bright spot going up when market is down, because confirm up TP 70 cents |
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fundamentalhero
Veteran |
04-Feb-2022 22:13
Yells: "I NEED HONEYS AND MONIES" |
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silently collecting up up someone meanwhile strong rubber prices huat ah |
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Joelton
Supreme |
31-Jan-2022 10:05
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Halcyon Agri eyes return to profitability amid stronger rubber demand, prices
Chief executive David Li confident group will stay in the black, with trends such as EVs, medical gloves and masks stoking demand for rubber.
NATURAL rubber supplier Halcyon Agri Corporation is on track for a turnaround. The company recently announced it is set to record a profit after tax for FY2021 ended December versus a loss in FY2020, thanks to an overall improvement in business conditions, particularly the recovery of downstream industrial activities.
Chief executive David Li told The Business Times in an interview that he " has confidence" that the profitability is sustainable, especially after the group refreshed its vision and mission to support sustainable growth.
Over 2021, the group has rejigged its portfolio by cutting out non-core assets through a " deleveraging plan" . The proceeds raised through the disposal of non-core assets will allow the group to strengthen its capital structure and improve its operating liquidity, said Li.
Does the return to profitability also mean the potential for dividend payouts?
" The management is aware of shareholders' and investors' expectations with regards to dividends," said Li. " We aim to balance our internal resource requirement and provide shareholder return via dividend. We will inform the market of any update relating to the dividend proposal."
Li, who was appointed as Halcyon Agri' s chief executive in June 2020, has amassed more than 20 years of experience in tyre, synthetic rubber and natural rubber businesses. Prior to Halcyon Agri, he held various positions at Sinochem International Corporation and GMG Global.
This, he said, has also put him in a good position to identify the key challenges and opportunities of the rubber industry - one which is typically " not easy to understand" due to price and demand fluctuations or supply chain issues.
Pandemic troubles
Like other commodities companies, Halcyon Agri was not immune to supply chain woes during the Covid-19 pandemic. Li recalled disruptions to logistics, as well as shipment delays or backlogs that posed problems for the company, which has a sizeable presence in the global rubber industry.
As at 2020, Halcyon Agri had a 9 per cent global market share of natural rubber and an 11 per cent share of tyre-grade natural rubber.
This, Li said, made it easier for the company to " mobilise (its) resources globally" .
" We have our footprint in different locations in the world," he said. Halcyon Agri has 69,000 hectares of plantations across Africa and Malaysia. The company also has 38 production facilities with a total annual production capacity of 1.6 million metric tonnes in countries such as Indonesia, Malaysia, China, Thailand and the Ivory Coast.
With this web of production facilities, the group was able to shift its products around to meet pockets of demand that were popping up in certain countries. For instance, a portion of the company' s Malaysia and Thailand production was shipped to China to meet the demand there " more efficiently" .
" But I have to say that even after taking such methods, which were quite effective, we are still facing some challenges because of the delays and backlogs," said Li, adding that the shortage of containers was a critical problem for buyers of rubber.
That is where Halcyon Agri' s long-term relationships with key customers came into play. The company held " open discussions" with its customers on potential delays or difficulties along the supply chain.
Bright spots
As the global economy recovers from the brunt of the pandemic, Li is hopeful that better days are ahead as the demand for natural rubber bounces back in tandem with a broad-based economic recovery. As far as specific geographies go, Li foresees strong demand recovery in China, India, Europe and the United States.
One potential driver is the " booming demand" for cars, particularly from new demand for electric vehicles (EVs). More people are also buying cars in general, said Li, as the Covid-19 pandemic has made people in certain countries more hesitant about taking public transport. People who can afford private transportation could be more likely to purchase cars now, he said.
The medical industry is also adding to rubber demand. For instance, Li estimates that the elastic strips on each medical mask use about 2 grams of natural rubber. And many countries have mandated the use of masks outside homes, noted Li. Glove usage also remains high in the medical and industrial sectors.
Halcyon Agri predicts consumption of natural rubber will reach 14.1 million metric tonnes this year. While demand is rising rapidly, the supply of natural rubber cannot be increased easily. Given stronger consumption trends, future demand is expected to exceed supply.
Rubber trees typically take around six to seven years to mature, and Li said existing supply may not be sufficient to fulfil surging demand. A lack of maintenance could also make rubber trees vulnerable to disease, which could affect yield.
Said Li: " I think this kind of imbalance in supply and demand will result in a price increase of natural rubber."
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Joelton
Supreme |
19-Jan-2022 09:38
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Halcyon Agri guides for post-tax profit for FY2021, reversing year-ago loss
MAINBOARD-LISTED rubber producer Halcyon Agri Corp Halcyon Agri: 5VJ 0% expects to return to profitability for the financial year to Dec 31, 2021, the board said in a guidance on Tuesday (Jan 18).
It attributed the expected post-tax profit to " overall improvement in business conditions, particularly the recovery of downstream industrial activities" .
It had run up an unaudited post-tax loss of S$61.0 million in the year-ago period, which amounted to a full-year net loss of S$54.2 million, excluding minority interests.
" The group has been able to capitalise on the robust demand and continuous improvement in its market position, that accelerated business growth during FY2021," the board said in its filing.
The latest profit guidance is based on a preliminary assessment of Halcyon Agri' s unaudited financial statements for FY2021, which are still being finalised.
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spursfan
Supreme |
18-Jan-2022 18:49
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PROFIT GUIDANCE FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 - The Board of Directors (the ?Board?) of Halcyon Agri Corporation Limited (the ?Company? and together with its subsidiaries, the ?Group?), after a preliminary assessment of the Group?s financial results for the year ended 31 December 2021 (?FY2021?), deems it appropriate to issue guidance that the Group is expected to report a profit after tax for FY2021 (the ?Expected PAT?), compared to the significant loss during the same period last year.... https://links.sgx.com/1.0.0/corporate-announcements/FVEK0RN8C29JYGQG/697945_HAC_Profit_Guidance_FY2021.pdf |
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fundamentalhero
Veteran |
17-Jan-2022 10:36
Yells: "I NEED HONEYS AND MONIES" |
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now cheap no one buy but just throw throw, haha soon to have event come up soon with rubber futures being so strong supported by inflationary pressures, huat ah |
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fundamentalhero
Veteran |
11-Jan-2022 19:16
Yells: "I NEED HONEYS AND MONIES" |
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x 0 Alert Admin |
rubber futures up! someone is collecting or bb nibbling |
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fundamentalhero
Veteran |
07-Jan-2022 18:34
Yells: "I NEED HONEYS AND MONIES" |
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x 0 Alert Admin |
slowy slowly party :) rubber futures up up earn huat huat $1 come soon |
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Lobster
Elite |
05-Jan-2022 22:55
Yells: "Even Adam Khoo believes in the Black Market!" |
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Could be...... |
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fundamentalhero
Veteran |
05-Jan-2022 21:19
Yells: "I NEED HONEYS AND MONIES" |
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smells like party starting with coverage. finally! else really become SSH already |
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fundamentalhero
Veteran |
04-Jan-2022 17:30
Yells: "I NEED HONEYS AND MONIES" |
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x 0 Alert Admin |
dumping today wor don' t say collect cheap leh. lim peh almost SSH already XD |
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Joelton
Supreme |
30-Dec-2021 12:17
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Halcyon Agri to record US$10.6m gain from subsidiary' s land sale
NATURAL rubber supplier Halcyon Agri Corporation' s Halcyon Agri: 5VJ +4.55% 70 per cent indirectly-owned subsidiary is selling 54.5 hectares (ha) of freehold land for 11.1 billion CFA francs (S$25.9 million) or US$19 million in cash.
Upon completion of the transaction, Halcyon Agri expects to realise a gain of about 6.2 billion CFA francs or some US$10.6 million based on the CFA-USD exchange rate as at Nov 30, 2021.
In a regulatory filing on Wednesday (Dec 29), the group said it anticipates the deal to have a positive impact on earnings per share (EPS) and net tangible assets (NTA) per share for the current financial year ending Dec 31, 2021.
Had the sale taken place in FY2020, it would have resulted in a gain of US$11.6 million based on the CFA-USD exchange rate as at Dec 31, 2020.
As such, the group' s pro forma EPS for FY2020 would have seen an improvement of 0.51 US cent from a loss per share of 3.43 US cents to a loss per share of 2.92 US cents. NTA per share for the same period would have improved 0.73 US cent from 28.13 US cents to 28.85 US cents.
The indirectly-owned subsidiary, Tropical Rubber Cote d' Ivoire (TRCI), is a rubber producer located in Ivory Coast.
The 54.5 ha land plot is located on the outskirts of Abidjan along the Autoroute du Nord, the highway that connects Abidjan to Ivory Coast' s capital city, Yamoussoukro. It is part of 206 ha of leasehold land which TRCI recently converted to freehold land titles.
Based on the FY2020 audited financial statements of TRCI, the land plot has a book value of US$303,000. It has an aggregate market value between US$17.7 million and US$26.1 million based on independent market valuations for land situated in the vicinity.
Halcyon Agri noted that the land for sale is situated in a " strategic area that is slowly changing from agricultural-focused site to one that features more urban characteristics" .
The group believes selling the land is in the best interests of Halcyon Agri and its shareholders, as the disposal of such non-core and undeveloped land assets comes as part of its deleveraging plan to strengthen its capital structure.
It intends to invest the disposal proceeds for the future growth of its core businesses.
Halcyon Agri added that it does not expect the transaction to have a significant effect on the group' s existing operations or its risk profile.
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Joelton
Supreme |
12-Nov-2021 09:32
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Halcyon Agri sees 22 % fall in Q3 Ebitda despite surge in revenue
MAINBOARD-LISTED Halcyon Agri Corporation saw earnings before interest, tax, depreciation and amortisation (Ebitda) fall 21.8 per cent to US$9.7 million for the third quarter ended Sep 30, 2021, from US$12.4 million a year ago.
However, revenue in the same period rose 51.9 per cent to US$602.1 million from S$396.4 million a year ago.
The natural rubber supplier attributed this to robust downstream demand, with sales volume in Q3 FY2021 growing by 11.6 per cent. Higher average selling prices also buoyed revenue for the quarter.
The company noted that its industrial and non-tyre rubber distribution platform Corrie MacColl International was the main contributor to the company' s third quarter Ebitda.
Operations at the group' s tyre grade rubber division, Halcyon Rubber Company, also improved, although the margins of its processing business were affected by new waves of Covid-19 cases in key operating regions. Extreme weather patterns also caused supply to tighten, resulting in higher raw materials prices.
Furthermore, the group' s plantation assets under CMC plantations narrowed its operating losses due to improvements in margins from higher selling prices and better plantation yield as its plantations were more operationally efficient and mature.
ComfortDelGro' s Q3 Patmi up over 19%
ComfortDelGro registered a third quarter profit after tax and minority interests (PATMI) of S$25.8 million, up 19.4 per cent year-on-year.
Revenue was 7.4 per cent higher at S$880.3 million, lifted by higher revenue from public transport services and automotive engineering services. Revenue for its public transport services rose 10.3 per cent to S$710.6 million due in part to higher revenue in Singapore. In Australia, public transport schedules were stable while the United Kingdom continued to see full schedules for public transport services.
Meanwhile, operating profit declined 8 per cent to S$40.3 million on the back of higher operating costs. Government relief was also lower.
For the quarter under review, government relief owing to the pandemic fell about 55 per cent to S$19.8 million from the corresponding period a year ago.
In an update on the pandemic situation in Singapore, Comfort said that ridership for public transport remained at about 60 per cent of pre-pandemic levels.
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