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 Post subject: NOVO GROUP LTD.
PostPosted: December 8th, 2009, 8:41 am 
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SECOND QUARTER FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT

Novo 1HFY2010 Net Profit surges 2,477% on back of steel market demand recovery
 1HFY2010 net profit at US$ 5.5million
 2Q2010 gross profit climbs by 382.8% to US$24.2million
 Key contributions coming from transport of raw materials into PRC and recovery of main steel markets

SINGAPORE – 07 December 2009 - Mainboard listed Novo Group Ltd. (“Novo” or the “Group”) (新源集团有限公司, a global steel supply-chain management company, is pleased to announce its 2Q2010 and half year results for the financial period ended 31 October 2009.

The Group achieved revenue of US$114.2 million from US$81.2 million in 2Q2009, representing an increase of 40.6%. This growth is attributed to the expansion of demand of raw materials in North Asia and the contribution of the domestic trading and distribution business in the PRC and Hong Kong. The domestic and trading business divisions have started well in their respective markets since their establishments this year. Novo Steel (HK) Limited, for instance, has been awarded with ISO9001:2008 certification and entered into monthly steel supply contracts with some of the main contractors and developers in Hong Kong and Macau. The Group is expecting steady growth of the domestic trading units.

With the Group benefiting from the recent escalation of steel price and the change of trading terms for certain major contracts, gross profit increased to US$24.2 million in 2Q2010 from US$5.0 million in 2Q2009 and gross profit margin rising from 6.2% in 2Q2009 to 21.2% in 2Q2010.

On the Group’s expense side, distribution and selling expense increased to US$22.5 million in 2Q2010 from US$5.7 million in 2Q2009 due to the increase in sales and unit freight charge and the change of trading terms for certain major contracts, while finance cost decreased to US$0.2 million for 2Q2010 from US$0.7 million in the previous corresponding period. Other operating expenses also declined by 96.8% to US$0.1 million due mainly to an exchange loss of US$1.9 million in 2Q2009. Net profit of the Group during the period improved to US$1.5 million from a loss of US$3.6 million in the previous corresponding financial period (2Q2009).

On a half year comparison, Group revenue declined by 37.3% to US$217.9 million in 1H2010 from US$347.4 million in 1H2009 but Group net profit surged by 2,477% to US$5.5 million in 1H2010 from US$0.2 million in 1H2009. The Group also saw its gross profit improve slightly to US$33.0 million in 1H2010 from US$32.4 million in 1H2009. Novo’s gross profit margin for the said period improved significantly from 9.3% in 1H2009 to 15.1% in 1H2010.

Earnings per share for 2Q2010 recovered to 0.25 cents (based on 603,194,000 weighted average shares in issue) from negative 0.58 cents (based on 631,379,000 weighted average shares in issue) in 2Q2009. Net Asset Value (NAV) per share also moved up to 7.1 US cents as of 31Oct 2009 from 6.5 US cents in 30 April 2009.

Mr. Dicky Yu, Novo’s Executive Chairman commented that with this sets of results, Novo is on track and well poised to take advantage of the global economic recovery. He said that he expects the demand for steel and related raw materials will steadily grow in the PRC, India and South America as the recovery of the global economy comes along. He added that in the PRC alone, it is expected to produce over 600 million tons of steel in 2009 which is over 40% of the world total production capacity. The Group has long term contracts with major iron ore mines in the world and key steel mills in the PRC. Novo has secured fix allocation s of certain quantity of iron ore from iron ore mines and suppliers, which will contribute to stable income of the Group in the future.

Aside from this, he added there are many exciting developments that are occurring within the Group’s business divisions. During the course of the period of review, certain subsidiaries of the Group were awarded with ISO9001:2008 certification, import license and environmental license for dealing with scrap business in the PRC. This provides the Group with opportunity to develop steel scrap business in the PRC and it will take effect from January 2010.

Recently the Group set up a subsidiary to handle non-steel trading business as a new revenue stream. At present, the Group has managed to conclude coal trading contracts and is expecting to obtain fixed allocations from coal mines in near future. Novo has also completed procurement of a piece of land for building a steel processing centre in Tianjin. The construction of factory and installation of the equipment is expected to complete within the second half of 2010. With such clear and sharp direction in place plus other new projects undergoing feasibility especially those related to scrap processing, coal and iron ore mines investment, the Group expects these areas to be its growth centers in the future. “We will continue with our strategy of expanding both upstream and downstream in order to enhance shareholders’ value” Mr. Yu concluded.

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 Post subject: Re: NOVO GROUP LTD.
PostPosted: January 13th, 2010, 8:44 am 
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The Board of Directors of Novo Group Ltd. (the “Company" and together with its subsidiaries, the
“Group”) wishes to announce that the Group had acquired an additional 10% of the issued and paidup share capital, comprising of 1,000 shares at HK$1 each, in Iron and Steel Resources Limited, a company incorporated in Hong Kong, from Hua Xin Business Consultancy Limited, a company not related to the Group, for a consideration of HK$1,000. The consideration of the transaction was arrived at on a willing-seller, willing-buyer basis.

Following to the above transaction, the effective shareholding in Iron and Steel Resources Limited changed from 45% to 55% and therefore it became a subsidiary of the Group.

The above investment is funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the financial year ending 30 April 2010.


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 Post subject: Re: NOVO GROUP LTD.
PostPosted: January 13th, 2010, 8:47 am 
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BUSINESS UPDATE ON SCRAP STEEL PROCESSING PROJECT

The Board of Directors of Novo Group Ltd. (the “Company”) wishes to announce that Iron and Steel Resources Limited (“ISRL”), an indirect subsidiary of the Company, has recently obtained a letter of approval in principle from the local authority of the PRC that 500 metres long Yangtze River coastal line together with 500 mu (approx. 333,000 sqm) of land be reserved to ISRL.

On the area reserved, a scrap processing plant will be constructed for scrap processing, cutting and slitting of steel products. It is expected that the plant will commence its production in 2011 and shall have a production capacity of 2 million tonnes. To facilitate this plant, two public piers which are able to handle 50,000 tonnes of iron ores and steel products to be imported and exported, will be built.

The processing plant, with initial processing capacity of 1 million tonnes, will add benefits to the electric furnace manufacturers, ship-destruction business and logistic of scrap processing in Jiangsu Province.

The estimated capital expenditure investment of approximately US$24 million will be injected by a local subsidiary of ISRL, which was incorporated in the PRC.

The transaction will be funded through internal resources.


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 Post subject: Re: NOVO GROUP LTD.
PostPosted: January 13th, 2010, 10:30 pm 
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The board of directors of Novo Group Ltd. (the "Company") wishes to announce that the Company has today entered into a placement agreement (the "Placement Agreement") with CIMB-GK Securities Pte. Ltd. ("CIMB-GK" or the "Placement Agent") pursuant to which (i) the Company has agreed to issue up to 51,841,000 new ordinary shares in the capital of the
Company (the "New Shares") and to dispose of up to 36,159,000 treasury shares currently held by the Company (“Treasury Shares”), and (ii) CIMB-GK has agreed to use its best efforts to procure the subscription for and/or purchase of the New Shares and the Treasury Shares (collectively, the “Placement Shares”), at a price of S$0.230 per Placement Share (the
"Placement Price"), amounting to an aggregate consideration of up to approximately S$20.2 million, and on the terms and conditions of the Placement Agreement.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement


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 Post subject: Re: NOVO GROUP LTD.
PostPosted: January 20th, 2010, 9:55 pm 
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PROPOSED PLACEMENT OF SHARES IN THE CAPITAL OF NOVO GROUP LTD. (THE "PLACEMENT")

Further to the Placement Announcements, the board of directors of Novo Group Ltd. (the "Company") is pleased to announce that the SGX-ST has on 20 January 2010 granted its inprinciple approval for the listing and quotation of the New Shares on the Official List of the SGX-ST.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement


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 Post subject: Re: NOVO GROUP LTD.
PostPosted: January 22nd, 2010, 5:50 pm 
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PROPOSED PLACEMENT OF SHARES IN THE CAPITAL OF NOVO GROUP LTD. (THE "PLACEMENT")
Unless otherwise defined, all capitalised terms used in this announcement shall bear the same
meanings as in the Company's announcements dated 13 January 2010, 14 January 2010, 20
January 2010 and 21 January 2010 in relation to the Placement (the “Placement Announcements”).

Further to the Placement Announcements, the board of directors of Novo Group Ltd. (the
"Company") wishes to announce that the New Shares will be listed and quoted on the Main Board
of the SGX-ST on 25 January 2010 and trading of the New Shares will commence with effect from 9.00 a.m. on the same date.


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 Post subject: Re: NOVO GROUP LTD.
PostPosted: January 25th, 2010, 2:04 am 
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Hi Guys,

This is my first post. I bought it 2 weeks ago at 20.5 cents.

Here is Novo's Financial Highlight -

Image

Novo Revenue Stream

Current Revenue Streams

- Trading of coal
- Shipping and fleet management
- Distribution of steel products to HK construction business
- Trading of steel in PRC
- Distribution of high grade offshore steel to rig makers in SEA
- Distribution of iron ore, semi finished and finished products to clients
- Supply chain logistic support and financing

Future Revenue Stream

- Scrap processing plant will be operational in 2011. It deals with scrap processing, cutting and slitting of steel products. Expects to produce 2 million tonnes of products.
- Acquisition of iron ore and coal mines in the near future
- Purchased land in Tiajin in 2009. The land will be used to develop a steel processing centre, which will be operational in mid 2010, for hot-rolled coil and cold-rolled coil. The processing centre is expected to handle 100,000 MT hot-rolled coil and 100,000 MT cold-rolled coil to be cut, slitted and packed for distribution for local market.
- Distribution of coal products


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 Post subject: Re: NOVO GROUP LTD.
PostPosted: March 15th, 2010, 9:58 pm 
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Novo Group Net Profit surges 422% to US$ 4.7 million in 3Q FY2010

 Revenue grew by 67.7% to $ 127.7 million
 Gross profit up by 129% to US$ 18.7 million from US$ 8.1 million in 3Q FY2009
 Strong performance by international steel trading and domestic trade and distribution divisions
 Group expands to scrap processing and plans primary dual listing in SEHK


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 Post subject: Re: NOVO GROUP LTD.
PostPosted: April 12th, 2010, 10:04 pm 
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SALE OF TREASURY SHARES

The Board of Directors of Novo Group Ltd. (the “Company” and together with its subsidiaries, the “Group”) wishes to announce the sale of treasury shares that were purchased under the Company’s share buy back mandate. The information disclosed below is pursuant to Rule 704(26) of the Listing Manual of the Singapore Exchange Securities Trading Limited.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement


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 Post subject: Re: NOVO GROUP LTD.
PostPosted: June 21st, 2010, 10:37 pm 
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FULL YEAR RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

http://info.sgx.com/webcoranncatth.nsf/ ... esults.pdf

Novo Group registers 667% jump in Net Profit at US$ 12.0 million in FY2010

 Gross profit up by 21.1% to US$ 55.7 million in FY2010 from US$ 46.0 million in FY2009
 Tonnage handled increased by 35.7% to 2.6 million tonnes in FY 2010
 Group declares cash dividend of 0.5 Singapore cents

http://info.sgx.com/webcoranncatth.nsf/ ... elease.pdf


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