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FoaMasters International Limited (FoaMasters or the Company) (AIM: FOAM), a leading Asia-based manufacturer and producer of high-quality polyurethane flexible foam and finished products, is pleased to announce a trading and operational update, ahead of the release of its maiden Preliminary Results for the year ended 31 December 2007 in April 2008.
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Hong Kong – Hong Kong – Flexible foamer and bedding producer FoaMasters International Ltd has become the first Chinese foam-making company to list on the UK’s AIM (alternative investment market).
However, the recent softness in the stock market has led to the firm downgrading its original investment plans by $ 23.5 million to $ 11.5 million, because it has gathered only around half of the $ 5 million that it hoped to raise.
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Mobile advertising forecasted to be worth US$14.4billion by 2011
PIXEL MEDIA, ASIA’S LEADING ONLINE advertising sales network today announces that it has officially launched its mobile advertising solution in partnership with Nokia Ad Business, a leading global mobile advertising marketplace.
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HOUSEBUILDERS were yesterday big market winners as the City placed a huge bet on the Bank of England cutting interest rates.
Taylor Wimpey topped the bluechip risers with a 15p increase to 203p, while Barratt Developments and Persimmon advanced 26p to 467p and 36p to 796p respectively. Despite this, Taylor Wimpey and particularly Barratt, remain favourites to be relegated from the top flight at next week quarterly index reshuffle, following a disastrous few months for the sector.
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IT doesn’t take long in a bear market for defensive stocks to find their way back into investors portfolios. Take British American Tobacco, up 18p at 1898p today after Credit Suisse repeated its outperform rating and jacked up its target from 1800p to 1950p.
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The company, founded in 1964, makes a range of foam products. Customers include Toys R Us, Ikea, Littlewoods, Land of Leather and Staples.
The market is competitive. There are 2,000 polyurethane makers in China, with around 10 to 20 as large as FoaMasters.
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Asia Pacific – Pixel Media has promoted general manager Winky Chan as managing director for Hong Kong and Singapore and made a series of promotions and new hires across Asia as the company seeks to capture the growing market share in online advertising in the region.
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Kettering, UK – Chinese foam manufacturer South East Asia Holdings Group has been awarded SATRA – accredited status for the quality control laboratories in two of its factories – the first foam producer in the world to receive the honour.
Following an audit of its system and procedures, the group’s Foamtech and Zhong Shan Ltd units both demonstrated a “high commitment to quality management, backed by comprehensive and reliable testing procedures,” according to SATRA’s 29 Sept statement.
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Pixel Interactive Media (AIM: PIXL), Asia’s leading online advertising sales network, is pleased to give the following trading update prior to entering its close period. The Directors are pleased to confirm that Pixel has made good progress and anticipates that pre-tax profits will be slightly ahead of expectations for the year ending 31 December 2006.
The Group plans to announce its preliminary results on 26 March 2007. An analyst briefing given by Kevin Steeds (Non-Executive Chairman), Kevin Huang (Chief Executive) and Belinda Montes (Chief Finance Officer), will be held at 9.30 a.m. on 26 March 2007 at Abchurch Communications Ltd, 5th Floor, 100 Cannon Street, London, EC4N 6EU.
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Pixel Interactive Media Ltd (AIM: PIXL), a leading Asian online advertising sales network, is pleased to announce that it has raised approximately US$3.1 million via an institutional placing of 4,074,308 new ordinary shares of US$0.05 each in the Company at 38 pence per share.
