What had HUAAN's IR Manager got to say ??

taddaaa.....

huaan.. dropping like flies... but their IR manager still very optimistic.... hmm.... i think should wait till volume subside before going in again....

trading at below 40c.... tat is unbelievable la...

totoNote: forwarded message attached.
Get your preferred Email name! Now you can @ymail.com and @rocketmail.com.
-----Inline Message Follows-----
Dear Y WK,

Good day.

Attached herewith is the coke and coal prices of Linyi Yehua Coking Co Ltd, a wholly-owned subsidiary of Sino Hua-An for your kind perusal. We have till July08 only. Aug08, our Chinese accountant is still compiling them. Usually by middle of
Sept we would receive the email from him. The moment i receive i will update you.

Fundamental we are intact, just that recently the steel industry in China has slowed down (usually June , July & August-summer season slower & also Beijing Olympic & on- going paralympic). Steel players are facing increasing raw material prices (especially iron ore), bcos they need to import about 50% from Brazil & Australia. Growth drivers are still there, 西部大开发(western part of China development), Sichuan reconstruction, Beijing-Shanghai hi-speed rail, Shanghai Expo 2010, shipbuilding, automobile & construction... Hope the steel players in China could negotiatiate better iron ore price after the govenment recently increased coke export duty from 25% to 40% ( China export more than 50% of global coke supply).

Red chips in Singapore are also badly hurt / poor performance. In fact ,most of them are not performing (in tandem with Shanghai index drop from 6000 + to 2400 points). Many are trading PE below 5. Feedback from a few fund managers, their appetite are on blue chip with high liquidity and they are not considering 2nd liners or 3rd liners for the time being even though their PE are highy attractive.

Thank you very much.

Best regards,
Bernard Tan
----- Original Message -----
From: y wk
To: Bernard Tan
Sent: Tuesday, September 09, 2008 1:36 PM
Subject: Re: Sino Hua-An International Berhad: Aseambankers & Kenanga Research report dated 25 August 2008 (2Q08)
Dear Mr Bernard,

Any updates on the company's coke selling prices & coal purchase prices lately?

Thank you

Regards