Stock News: Pine Agritech secured orders worth 429 mln yuan!

Pine Agritech Ltd, a Chinese producer of soybean products, may still head higher after it secured new orders worth 429 mln yuan for its Tian Song brand health syrup, soy oligosaccharine syrup (SOS), from a new master distributor for the China market. Subsequently, it said the new distributor has committed to a minimum order of 700 mln yuan per year from 2007 until the master distribution rights expire in five years. "We have locked in significant sales orders for SOS over the next few years. Given that SOS is our highest margin product, the orders secured are expected to have a positive impact on the company's revenue and earnings in the second half of 2006," CEO Li Zhu Ping said. Pine Agritech closed up 0.09 sgd at 2.45 yesterday.