SINGAPORE (XFN-ASIA) - Nippecraft Ltd was firmer after saying its unit Paperich Pte Ltd has secured 23 mln usd worth of copier paper business for delivery the current quarter.
In early trade, Nippecraft was up 0.01 sgd or 8 pct at 0.135 with 646,000 shares exchanged. The company said the deal will have a positive impact on its earnings.
"We are encouraged by the company's good progress in developing the copier paper business. Orders secured for the first half of 2007 already accounts for more than 80 pct of our revenue forecast for the full year," Phillip Securities Research said in a note.
The brokerage is keeping its "buy" call on the stock with fair value estimated at 0.145 sgd.