Wall Financial investors criticize low share price

Article Abstract:

Vancouver, British Columbia-based real estate developer Wall Financial Corp. is faced with complains from its minority shareholders due to the company's failure in providing them with dividends and boosting their share prices. The minority shareholders complained to Wall Financial's Chairman Peter Wall, saying that they were not awarded sufficient compensation for their investments despite the company's good performance in its latest fiscal year. The shareholders were pertaining to the C$18.1 million in profits for the fiscal year ending January 31, 1998, from C$7.1 million in the preceding year, earned by the company, and the revenue of C$71 million, from C$46.6 million.

Comment:

Faces minority shareholders' complain for failure to providing dividends and boost share prices despite strong fiscal year

Land Subdivision and Land Development, Financial management, Subdividers & Developers, Wall Financial Corp.

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Pulp mill sale lifts Crestbrook to profitability

Article Abstract:

Crestbrook Forest Industries Ltd., a pulp and lumber producer based in Cranbrook, British Columbia, made a small gain for the second quarter of 1998 due to its divestiture in May 1998 of a 40-percent interest in an Alberta pulp mill. The company, which is hurting from oversupplied markets and lower prices, sold its stake in the underperforming Al-Pac pulp mill to a joint venture of Mitsubishi Corp. and Oji Paper Co. Ltd. The sale caused Crestbrook to take a C$37.2-million charge in 1997 fourth quarter, but gave it $C$10 million in cash, while the buyer assumed C$438 million in Al-Pac-related debt.

Comment:

Makes small gain for 2nd quarter of 1998 due to divestiture in May 1998 of a 40-percent interest in an Alberta pulp mill

Asset sales & divestitures, Wood & Wood Products, Wood Product Manufacturing, Crestbrook Forest Industries Ltd.

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MacBlo's logging plan garners praise

Article Abstract:

Vancouver, Brit Colum-based MacMillan Bloedel Ltd. plans to greatly lessen its timber-logging operations at the British Columbian coast's old-growth forests and to cease its clear-cutting timber operations. MacMillan Bloedel's plans elicited praise from environmental organizations, such as Greenpeace, which cited the firm for its courage in ceasing clear-cutting logging operations. MacMillan Bloedel's chief executive and president, Tom Stephens, cited that the company's move was in response to a shift in mainstream social values.

Comment:

Plans to lessen timber-logging operations at British Colum coast's old-growth forests & to cease its clear-cutting operations

Paper & Allied Products, Paper Manufacturing, Natural resources, Paper industry, MacMillan Bloedel Ltd.

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