Key Developments: China Energy Ltd (CENR.SI)
0.07SGD
21 May 2013
$0.00 (+1.45%)
$0.07
$0.07
$0.07
$0.07
206,000
317,194
$0.15
$0.05
Latest Key Developments (Source: Significant Developments)
China Energy Ltd Does Not Declare Dividend
China Energy Ltd announced that no dividend has been declared or recommended for the financial period ended March 31, 2013. Full Article
China Energy Ltd Does Not Declare Dividend
China Energy Ltd announced that no dividend has been declared or recommended for financial year ended December 31, 2012. Full Article
China Energy Ltd Does Not Declare Dividend
China Energy Ltd announced that no dividend has been declared or recommended for the financial period ended September 30, 2012. Full Article
China Energy Ltd Announces RMB300 Million Long-Term Credit Facility
China Energy Ltd announced that China Construction Bank Nansha Branch (CCB) had recently granted a RMB300 million credit facility to the Group’s wholly owned subsidiary, Jiutai Energy (Guangzhou) Co., Ltd. The Facility has a tenure of two years (due in July 2014) and consists of a RMB200 million of loan facility for working capital purposes and a RMB100 million trade financing facility. The facility is jointly secured by a corporate guarantee from Jiutai Energy Technology Co., Ltd, a wholly owned subsidiary of the Company; a personal guarantee from Mr. Cui Lianguo, the controlling shareholder, the Chairman and Chief Executive Officer of the Company; and Jiutai Guangzhou’s land use rights and property, plant and equipment. Full Article
China Energy Ltd Does Not Declare Dividend
China Energy Ltd announced that no dividend has been declared or recommended for the financial period ended March 31, 2012. Full Article
China Energy Limited Comments On FY 2011 Earnings Outlook
China Energy Limited announced that the Group will report a substantial increase in the net loss for the fiscal 2011. On September 16, 2011, the Company announced that the Group anticipates to report a net loss for the financial year ending December 31, 2011, due to the high cost of anthracite coal which made it not cost effective for the Group to produce methanol from anthracite coal. This accounted for the very low utilisation rate of the Group’s in-house methanol plants which was expected to erode the gross profit contributions from the sale of Dimethyl Ether (DME). In view of the persistently high cost of anthracite coal, management has reviewed the carrying value of the Group’s methanol assets and assessed that indications of impairment have arisen. As such, management will be submitting its assessment of the impairment on the Group’s methanol assets (Impairment) to the Board for its consideration. If the Impairment assessment is accepted by the Board, the Impairment and related provisions will materially increase the Group’s net loss for the financial year ended December 31, 2011. Full Article
China Energy Limited's Jiutai International Trading Pte. Ltd Receives Bank Facilities
China Energy Limited announced that the Company’s wholly-owned subsidiary, Jiutai International Trading Pte. Ltd. (Jiutai International), was recently granted a USD10 million back to back letter of credit facility and a USD2 million foreign exchange line (collectively referred hereinafter as Facilities) by DBS Bank Limited (Bank). Full Article
China Energy Limited Does Not Declare Dividend
China Energy Limited announced that no dividend has been declared or recommended for the financial period ended September 30, 2011. Full Article
China Energy Limited Announces Voluntary De-Registration Of Two Wholly Owned Dormant Subsidiaries
China Energy Limited announced the voluntary de-registration of the Group’s two wholly-owned subsidiaries, namely Linyi Jiutai Energy Eco-fuel Co., Ltd. (Eco-fuel) and Shandong Jiutai Energy Co., Ltd. (Shandong Jiutai) had been completed on September 21, 2011 and September 2,02011 respectively (the Transaction). Both Eco-fuel and Shandong Jiutai had remained dormant since their incorporation on October 16, 2007 and October 23, 2007 respectively. Full Article
China Energy Limited’s Jiutai Energy Technology Co., Ltd Completes Transfer Of Its Entire Shareholding In The Capital Of Zhangjiagang Jiutai Trading Co., Ltd To Jiutai Energy (Zhangjiagang) Co., Ltd
China Energy Limited announced that the Company’s wholly-owned subsidiary, Jiutai Energy Technology Co., Ltd (Jiutai Energy) had completed the transfer its entire shareholding in the capital of Zhangjiagang Jiutai Trading Co., Ltd (Zhangjiagang Trading) to Jiutai Energy (Zhangjiagang) Co., Ltd (Zhangjiagang), a wholly-owned subsidiary of the Group (the Transaction) on July 28, 2011. The aggregate consideration for the Transaction was approximately RMB9,654,080, being the net asset value of Zhangjiagang Trading as at April 30, 2011. Zhangjiagang Trading, a company incorporated in the People’s Republic of China, was established on October 26, 2007 for the purpose of trading and procurement of chemical products. The entire issued capital of RMB10 million was held by Jiutai Energy. Zhangjiagang Trading has remained dormant since its incorporation. Full Article
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