FCP owns 28% of ONC ONC has just received a dividend.. things are looking up.
i'd reckon this stock will be 5 cents plus by the end of the year. if they release announcement & good profit.
Company Announcements Division for immediate release ASX Code: ONC COMPANY ANNOUNCEMENT ONCARD INTERNATIONAL ANNOUNCES INAUGURAL DIVIDEND RECEIVED FROM CHINESE JOINT-VENTURE Melbourne, 23 June 2008: OnCard International Limited (ASX: ONC), one of the fastest-growing card marketing, issuing and management companies in Asia Pacific, today announced that it has received an inaugural dividend on its investment in its joint-venture operation in China, Shanghai Smart Service Co Ltd. Less than 3 years after an initial investment of US$1 million, Shanghai Smart Service Co Ltd has paid a dividend back to OnCard of A$1.53 million. “Today’s dividend effectively recoups the funds invested in the joint-venture and is further proof of the continued strength of the business we are building in China,” said OnCard Chairman Peter Abotomey. “We are very pleased with the performance of our business in the fast-developing China market, where we are now a leading provider of pre-paid cards. Indeed, we now have more than 14 million cards under issue or management across the Asia Pacific region.” Mr Abotomey said the company was confident of experiencing continued growth in the China market as OnCard further enhanced its joint venture with Shanghai Smart Service Co Ltd and took advantage of other revenue-generating opportunities across the market.
FCP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
