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Suddenly someone snap up @ 0.006 the last minute. Any reason?
Simply crsp when shares can trade at 100 shares.
Even worst when shares can trade at $0.001
Bigdaddy ( Date: 18-Dec-2015 14:50) Posted:
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DBS Vickers you suck! for buying up only 100 shares
Bigdaddy ( Date: 18-Dec-2015 14:08) Posted:
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Once that indo bad news come out, i saw the way it drop like nobody business, no choice have to cut lost!
Sold off at 0.011. Now the price even worst....
In general, the business is ok in Singapore, is their investment in Indo pull them down!
fortunecat ( Date: 09-Nov-2015 17:29) Posted:
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my polaris is on the sell queue, but someone just bought only 100 shares. crap. lately always happen to me..
Remembered this was one of the penny with high hopes here, now also below 1c.
Hai, crap STI
Hai, crap STI
POLARIS LTD.
(Company Registration No.: 198404341D)
(Incorporated in the Republic of Singapore)
PROFIT GUIDANCE FOR PERIOD ENDING 30 SEPTEMBER 2015
The Board of Directors (the &ldquo Board&rdquo ) of Polaris Ltd. (the &ldquo Company&rdquo , together with its subsidiaries,
collectively referred to as the &ldquo Group&rdquo ) refers to the Company&rsquo s announcements dated 13 October
2015, 23 October 2015, 26 October 2015, 30 October 2015, 3 November 2015 and 6 November 2015
(&ldquo Announcements&rdquo ).
Further to the Announcements, the Company wishes to announce that the Group is expected to
report net losses for the nine months ended 30 September 2015 (&ldquo 9M2015&rdquo ). The Board would like to
update shareholders on the financial impact that the Group will face arising from its 44.88%-owned
Indonesian associated company, PT Trikomsel Oke Tbk. (&ldquo Trikomsel&rdquo ) third quarter financial result
that was recently announced. Below is the unaudited income statement for the Group, together with a
comparative statement as at the end of the immediately preceding financial year.
Polaris'
Standalone
Consolidated Consolidated
9 Months Ended 12 Months Ended
2015 2015 2014
S$' 000 S$' 000 S$' 000
Revenue 1 16,693 116,693 133,096
Cost of Sales ( 110,124) (110,124) (123,053)
Gross profit 6 ,569 6,569 10,043
Other items of income
Interest income 1 96 196 177
Other income 2 ,515 2,515 5 36
Other items of expense
Marketing and distribution (355) (355) (593)
Administrative expenses ( 5,766) (5,766) (7,872)
Finance costs ( 239) (239) (168)
Other expenses ( 1,694) (1,694) (1,442)
Share of results of associates - (15,280) 4 ,341
Profit/ (loss) before tax 1 ,226 (14,054) 5 ,022
Income tax credit/ (expense) - 390 (513)
Profit/ (loss), net of tax 1 ,226 (13,664) 4 ,509
Attributable to:
Owners of the Company 1 ,246 (13,644) 4 ,169
Non-controlling interests ( 20) (20) 340
Profit/ (loss) for the period/ year 1 ,226 (13,664) 4 ,509
The expected losses for 9M2015 arose mainly from the consolidated share of results Trikomsel.
Trikomsel has on 30 October 2015 released it unaudited interim consolidated financial statements for
the financial period ended 30 September 2015. Trikomsel&rsquo s operating performance for the nine
months ended 30 September 2015 has declined due to continued weakening consumer sentiment in
Indonesia, the depreciation of the Rupiah against the US dollar, challenges in procuring new product
supply and reductions in gross margins for mobile phones.
The profit warning is based on a preliminary review of the unaudited financial results of the Group.
Further details of the Group&rsquo s financial performance will be disclosed when the Company announces its
financial year ending 31 December 2015 results which will be no later than 1 March 2016.
The Board confirms that the Company is independently operated from Trikomsel. The Company has
not provided any corporate guarantee nor has any of its directors provided any personal guarantees
for the financial indebtedness of Trikomsel. The major shareholders namely Tres Maria Capital Ltd.
has not provided any share pledges in the shares of the Company to secure any financing for the
Company. There are no cross default events that are triggered by the Company arising from the
financial defaults of Trikomsel as the financial obligations of the Company are independent from
Trikomsel.
The Group will continue to strengthen its regional retail and distribution expansion plans by further
penetrating into developing markets such as Malaysia, Myanmar, Philippines and Thailand and exercise
financial prudence, while developing the targeted growth areas. The Group will also remain cautious of its
outlook for the remaining financial year.
The Company will continue to keep its shareholders updated of any further material developments in
Trikomsel. Copies of the Announcements are available on the SGX-ST website at www.sgx.com.
In the meantime, shareholders of the Company are advised to refrain from taking any action in
respect of their shares in the Company which may be prejudicial to their interests, and to exercise
caution when dealing in the shares of the Company. In the event of any doubt, shareholders of
the Company should consult their stockbrokers, bank managers, solicitors, accountants or other
professional advisers.
By Order of the Board
Ang Chuan Hui, Peter
Executive Director & CEO
Date: 9 November 2015
| 06-11-2015 16:31:06 BRIEF-Trikomsel says not in position to make upcoming interest payments on 2016 and 2017 notes Nov 6 (Reuters) - Trikomsel Oke Tbk PT : * Held a call with certain noteholders to update them on outstanding debt position * " Not in a position to make the upcoming interest payments on our 2016 and 2017 notes" * " company has decided to pursue a comprehensive review and assessment of its debts" * Currently is discussing its various options with its lender banks, including requests for standstill and forbearances * " Seeking to establish a steering commitee of noteholders to represents their interests" * " Not in position to meet current financial debt and significant obligations which will become due over the next 2 yrs" * Engaged with bank lenders individually as well as on group basis * " Hope to complete discussions and formalise the steering committee in the next couple of weeks" * Identified a number of potential candidates as composition for the steering committee * Received preliminary input from bank lenders and they have indicated intent to form committee amongst themselves to communicate thoughts to co * " company has implemented measures to preserve cash for essential operations" * Does not currently intend to file court proceedings and committed to address situation and reach agreement with lenders and noteholders * " Advised that unlikely to be sufficient market interest for equity raise of size required to continue to service debt obligations" * " Does not have non-essential fixed assets available for sale to make substantial reduction in debt without affecting operations" * Source text for Eikon [ID:nSNZc1GcL5] ((For more news, please click here [TRIO.JK])) ((Bengaluru Newsroom +91 80 6749 1130)) |
Polaris is quite a large company with many businesses. Currently due to its recent investment into the Trikomsel play and lost money, it affects its NAV owing to heavy loss of Trikomsel., Probably it is just book loss for Polaris but could make back if Polaris itself makes good profits. I have sold earlier, but will look for opp to buy back.
Composure ( Date: 04-Nov-2015 20:24) Posted:
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haha at this rate, 2cents may take years.
anyway parking $1K here until that happens or delisted
Demostation ( Date: 03-Nov-2015 21:05) Posted:
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Buyer coming in? Abit risky! Do you have much idea how coupon payments work?
Big share holder may dump when seeing large buyer coming in...
Stay sideline to monitor first....
The issuer is scheduled to make coupon payments on November 10 on its 2016 bond
and on December 5 on the 2017 issue.
isn' t it a good news? make coupon paynebts ,why droped 20% today again.
04-11-2015 09:51:54
UPDATE: Trikomsel plans bondholder call on Friday
SINGAPORE, Nov 4 (IFR) - Indonesian telecom company Trikomsel will hold a second
bondholder meeting this Friday via a conference call.
Trikomsel said in a statement last evening that the meeting was to offer an
update on the company' s debt position and ability to make payments as they fall
due, the current status of discussions with creditors, the formation of a
noteholder steering committee, discussion of its September 30 financial results
and recent developments.
Noteholders of the S$115m 5.25% bonds due May 2016 and S$100m 7.875% notes due
June 2017 have to register for the call by tomorrow.
Trikomsel had announced in late October that it was planning a formal standstill
on its bank loans and bonds following the disclosure that it was not in a
position to meet debt obligations.
The issuer is scheduled to make coupon payments on November 10 on its 2016 bond
and on December 5 on the 2017 issue.
FTI Consulting is advising on Trikomsel' s debt restructuring plans.
ya ,same question ,it' s still 1800 ,last price was 1750 ..
debt problem is not a sudden case ,polaris management knew the situation long time ago I think
why they did not issue right at 2c at that time ,get some money to help trikomsel
now the price droped to 0.008 ,the right issue got gone case.the company let the share price drop ,it' s better call the halt .
acly88 ( Date: 04-Nov-2015 12:33) Posted:
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Anyone can explain why trikomsel stock did not drop but Polaris drop so much?
maybe the U-turn point is about 0.005.
They have too much shares to unload...
I think those indo big share holder are cashing out their holding in this company as they need cash.
Must wait till they offload most of it before thinking of going in again.
=)
bishalnb ( Date: 04-Nov-2015 10:02) Posted:
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I jump ship to informatics instead.
Didn' t expect indon news came out of sudden and have such a big impact on this share.
May come in when it is more stable.
Unlikely halt as business still goes on as retailer in SG.
Apple Premium Reseller
Lenovo Outlets
Singtel Outlets
Sony Centres
Will start to worry if those shop closed overnight. =.=!
its overdone, at this point if you haven' t yet sold off .. its better to hold.
this is the time to go in, jout my thoughts only
treetops
you' re selling this GEM of yours?
can share if you think this one will be halt soon coz of the dropping prices? no chance for recover?!
Cut huge lost! Sob sob...