10.8.12

SELL Creative Singapore at $3.39 on Aug 9


Despite a happy moment for Singapore on its 47th Birthday, one firm is in trouble after chalking up 3 years of consecutive losses - Creative Singapore.


Creative has reported its earnings (or losses) report after market closed on Wednesday and markets are still closed due to National Day.

An important announcement is made after its Full Year reports as seen below:

*************"
Name of Issuer: CREATIVE TECHNOLOGY LTD hereby gives notice that:

(i) it has recorded pre-tax losses for the three (3) most recently completed consecutive financial years (based on the latest announced full year consolidated accounts, excluding exceptional or non-recurrent income and extraordinary items); and

(ii) its market capitalisation as at 08-08-2012, the last market day on which trading was not suspended or halted, isS$237.1 million.
(Trading is deemed to be suspended or halted if trading is ceased for a full market day.)

The Company wishes to draw investors’ attention to Rule 1311 of the Listing Manual which states that the Exchange will place an issuer on a watch-list if it records:

(i) pre-tax losses for the three (3) most recently completed consecutive financial years (based on the latest announced full year consolidated accounts, excluding exceptional or non-recurrent income and extraordinary items); and

(ii) an average daily market capitalisation of less than $40 million over the last 120 market days on which trading was not suspended or halted. For the purpose of this rule, trading is deemed to be suspended or halted if trading is ceased for the full market day."
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News Articles can be seen here:

Luckily Creative is not a small-cap company, but however, more bad news await for Creative...

1) Currently embroiled in a lawsuit with a vendor over a wireless broadband network project
2) Creative does not expect an improvement to be registered at the end of the current quarter & is expecting to report an operating loss for the year.
3) Company said the overall market for its products remains challenging

The technical conditions also back up the fundamental analysis...


If you look at the chart, Creative is at the tipping point of a descending triangle. If such bad news and net losses keep pillng up, i believe there is only one way for it to go... Down.

Hope you like my post and can do me a favour by "Like"-ing my facebook page at www.facebook.com/kissinvesting. Thanks & HUAT AH!

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