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GREAT GROUP HOLDINGS IPO 1.8 times subscribed
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johnng
Supreme |
10-Oct-2016 13:07
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hit a high of $0.019... |
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johnng
Supreme |
10-Oct-2016 10:50
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CHIONG ARH!!! |
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johnng
Supreme |
10-Oct-2016 10:43
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next penny to run big.... |
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1oopls
Master |
11-May-2016 14:35
Yells: "I love my evil cute cute darling" |
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Forise International Limited (formerly known as Great Group Holdings Limited) Company Registration No. 200804077W (Incorporated in the Republic of Singapore) QUARTERLY UPDATE PURSUANT TO RULE 1313 (2) OF THE SGX-ST LISTING MANUAL BACKGROUND Forise International Limited (the &ldquo Company&rdquo , together with its subsidiaries, the &ldquo Group&rdquo ) was placed on the watch-list pursuant to Rule 1311 of the Singapore Exchange Securities Trading Limited (the &ldquo SGX-ST&rdquo ) Listing Manual (the &ldquo Listing Manual&rdquo ) with effect from 4 March 2015. Pursuant to Rule 1313 (2) of the SGX-ST Listing Manual, the Board of Directors (the &ldquo Board&rdquo ) of the Company wishes to provide an update on the Group&rsquo s financial position for the first quarter ended 31 March 2016 (&ldquo 1Q 2016&rdquo ). UPDATE ON UNAUDITED FINANCIAL POSITION As announced in the Company&rsquo s financial results for the year ended 31 December 2015, the Board, after undertaking a strategic and special review of the businesses of the Company, is of the opinion that it is difficult for the manufacturing component of its garment business (excluding the trading business) to turn around in the near term. The Company has ceased the manufacturing operations in the fourth quarter 2015, disposed of all the machineries of its production facilities held under its two main manufacturing subsidiaries to various third parties, retrenched all production workers and leased out its factory premises. Following the cessation of its manufacturing operations, the Company intends to dispose of the excess fixed assets related to the manufacturing segment of the Group&rsquo s business. The Group has, on 6 April 2016 entered into a sale and purchase agreement to sell the subsidiaries related to the manufacturing segment of the Group&rsquo s business. Consequently, this group of subsidiaries has been reclassified as asset of disposal group held for sale (&ldquo Asset of disposal group&rdquo ). Similarly, the liabilities associated with this disposal group were also classified as liabilities of disposal group held for sale (&ldquo Liabilities of disposal group&rdquo ) in 1Q2016. In the first quarter ended 31 March 2016 (&ldquo 1Q16&rdquo ), the Group had intensified its trading business and accordingly revenue from trading had increased by RMB12.08 million, from RMB0.59 million in the first quarter ended 31 March 2015 (&ldquo 1Q15&rdquo ) to RMB12.68 million in 1Q16. At the same time, and as announced by the Company on 12 January 2016 in respect of its business plans, the Company is also considering, subject to the approval of its shareholders at a meeting to be convened, diversifying the business of the Group into the provision of corporate advisory and management consulting services to corporation. In the Company&rsquo s results announcement for the full year ended 31 December 2015, the Company indicated that it may undertake some test projects on a limited scale. A revenue contribution of RMB1.8 million arose from these projects in 1Q2016. Overall, the Group&rsquo s total revenue for 1Q16 increased by RMB13.88 million, from RMB0.59 million in 1Q15 to RMB14.48 million as contributed by both the trading and corporate advisory services businesses. UPDATE ON FUTURE DIRECTION The Group is now focused on trading of higher margin products and expects to continue to maintain this strategy for the year. The Group currently does not foresee any significant emerging trend or changing competitive conditions in this industry other than the weakening of the PRC economy that might impact the Group&rsquo s trading business. As part of the Company&rsquo s ongoing business strategy to broaden the Group&rsquo s revenue stream and pursue business opportunities with good prospects for long-term growth, the Company intends, subject to approval of Shareholders at an EGM to be convened, to diversify the core business of the Forise International Limited (formerly known as Great Group Holdings Limited) Company Registration No. 200804077W (Incorporated in the Republic of Singapore) QUARTERLY UPDATE PURSUANT TO RULE 1313 (2) OF THE SGX-ST LISTING MANUAL Group into the business of providing strategic planning, corporate advisory, financial restructuring advisory and management consulting services (&ldquo New Business&rdquo ). This New Business is in a service based industry and is not expected to require high level of investment. The existing management has sufficient experiences and resources in the New Business and believes that in the PRC environment, relationship, expertise, knowledge as well as service levels and standards play a key role to the success of the business. The management believes that their past contacts will allow them an advantage in building a client base in the New Business, which given its comparatively low costs structure, will contribute towards the performance of the New Business. The Company will be convening an EGM to obtain approval from the shareholders for the diversification into the New Business. As explained above, test projects undertaken on a limited scale in respect of the New Business has contributed revenue of RMB1.8 million for 1Q16. It is the plan and hope of the Group that the combined contribution from this New Business segment, once approved, together with the trading business in the next 12 months will set the Group on the path towards meeting the requirements for exiting the financial watchlist. OTHER MATERIAL DEVELOPMENTS The Company will update shareholders on any other material developments and will make such necessary announcements as and when appropriate. |
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hem2998
Veteran |
07-Apr-2016 09:34
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transformation in progress.
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kw_702003
Member |
06-Apr-2016 22:11
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http://infopub.sgx.com/FileOpen/Forise%20-%20Disposal%20of%20subsidiaries.ashx?App=Announcement& FileID=397372 |
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kw_702003
Member |
11-Mar-2016 09:50
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today is the day ? |
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Bigdaddy
Veteran |
07-Mar-2016 14:12
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http://www.theaustralian.com.au/business/property/hong-kongs-forise-planning-giant-surfers-paradise-tower/news-story/2b80a0b7205e857e4eb6a6b3f0c42096 Hong Kong-backed Forise Holdings has emerged as the property group planning to develop the next high-rise apartment tower in the heart of Surfers Paradise after agreeing to buy an oceanfront reserve site for about $65 million. A local subsidiary of Forise Holdings Group, which controls Foriseland, one of China&rsquo s top real estate development and operation companies, is aiming to undertake a tower that will be higher than the 78-storey landmark Q1. The developer secured the now razed 3494sq m Iluka site from an entity associated with US investment bank Goldman Sachs via a put-and-call option, The Australianhas learnt. Canford Property Group director Roland Evans, who is believed to have negotiated the sale, did not return calls last week. Foriseland owns the brand Forise World in Chang Chun and Lijiang in China. The company was set up in 1997, with a focus on enterprise investment and financing services, and has since shifted into undertaking major projects, both in China and internationally. The site once housed the 16-level Iluka apartment tower, which was among the Gold Coast&rsquo s first high-rise buildings and a beachfront landmark for more than 40 years. The investment bank gained control of the site in 2013 when it bought Suncorp&rsquo s $1.6 billion distressed loan book for 60c in the dollar. Iluka was one of the high-profile casualties of the collapse of Gold Coast developer Raptis Group in 2008. The property had been earmarked by the company for a $700m tower after the site was amalgamated for a total of $94.4m. The early 1970s Iluka, home to the Billy&rsquo s Beach House nightclub and bar, was demolished in late 2013 and, notably, is in an area without height limits. Forise has worked in Australia before. In Melbourne it is working with the local Chapter Group on a boutique 102-apartment development known as Elland Avenue in Box Hill. That nine-level development is inspired by the work of Piet Mondrian and was designed by Melbourne firm K2LD. |
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Bigdaddy
Veteran |
07-Mar-2016 13:56
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still havent run yet but bursting out soon! |
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1oopls
Master |
05-Mar-2016 15:31
Yells: "I love my evil cute cute darling" |
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Bbs may be accumulating soon , 2nd round perhaps soon |
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Bigdaddy
Veteran |
05-Mar-2016 11:39
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there was a pump up of prices more than a week ago and now is all quiet.. silent.. which is a great time to jeep and hold on for the next pump up soon! |
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1oopls
Master |
30-Jan-2016 18:46
Yells: "I love my evil cute cute darling" |
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better then selling underwear. |
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DummyA
Senior |
30-Jan-2016 18:39
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THE BADS S-CHIP Loss making for many years and under SGX watchlist THE GOODS recently change to Forise intl with the new owner taking up 53% of shares and the parent company is a very profitable company in asset managing and etc etc they are changing business model price seems low now (but maybe will go lower) Anyone planning to buy for short term trade? |
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ruready
Supreme |
13-Jan-2016 10:05
Yells: "Follow the micro penny , May be this is the last train" |
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Accumulate time, soon p p p |
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Siwomp
Supreme |
13-Jan-2016 09:14
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T+5....perculiar, no sell down.。 。 。 lets see who blink first. | ||||
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Siwomp
Supreme |
06-Jan-2016 19:18
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advance kenna nuked by NK....... | ||||
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Siwomp
Supreme |
06-Jan-2016 12:30
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i tag along only. half my holding, i trade base on trend set by the BB. half i keep longer term, at least till new biz injection.
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appleronaldo
Veteran |
06-Jan-2016 11:11
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A LOT SHORTIST MAN |
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hem2998
Veteran |
06-Jan-2016 10:46
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whats your tgt?
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Siwomp
Supreme |
06-Jan-2016 10:28
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observing how the BB is managing the profit taking...... Huat Ah!
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