UPP

UPP: Co is est to report on the 13 Aug. Results is unlikely to be too significant. Co has been turning semi-annual losses for the past 3 halves and has also expressed a change in strategic direction. It intends to focus on other industries outside of its current business of paper products. Most recently it signed an agreeement to acquire a 67% stake in a Myanmar based JV involved in excavation, drilling and blasting for US$14.0m. Co has current mkt cap of $213.3m Given both its past losses and shift in business focus, investors are unlikely to be overly concerned with this quarter’s results. Do note that interest in UPP has also been linked to Rowsley’s divestment and Peter Lim. Peter Lim still owns a 26.0% stake in UPP.