The Board wishes to update Shareholders that, after due consideration and taking into account, inter alia,
the regulatory requirements of the relevant stock exchanges, the Company intends to seek a listing (the “Proposed Listing”) of the Relevant Subsidiaries in the Limestone Business on the Catalist of the SGX-ST instead of SEHK.
The limestone biz secured contracts of S$17.95 recently.
Each of the Marble Sales Contracts is for a particular property development project. Pursuant to the Marble
Sales Contracts, the total contract amount is up to RMB88,542,000 (equivalent to approximately S$17.95
million based on an exchange rate of S$1.00:RMB4.9330 as at 22 October 2013) and the marble are to be delivered progressively commencing from around mid-2014, upon notices from the respective Developers and according to the construction progress of the respective projects.
The Marble Sales Contracts represent the first significant confirmed sales for the Group’s marble resource
business and is a significant milestone for the Group in this area.
The Marble Sales Contracts also shows the Group’s progress in ramping up sales and marketing efforts to develop a customer base for its marble products.
There is not enough clarity on the limestone business from the management, especially in terms of the value of the resource, the plan for extraction, etc. It's difficult to see through the opaqueness of it all !
No clarity, I agree but I look at the big volumes transacted almost daily and I can only conclude that there are big players at the game. 18.7 m shares traded today, stock down 1 cent. It's about 9m sgd worth of trading, you can't say it's insignificant.