China Flexpack   

Annoncement

Sold a few months back, for a few K loss and used the money for somewhere.  This counter is played down by insiders.  I think they will play up again, sooner or later.   

Tomique      ( Date: 11-Oct-2012 11:09) Posted: Are you still vested?   This dinosaur of yesteryear's favorite in our local exchange, see some volume of 1.56 million plus shares this morning with spike in price, after rarely traded for long time. It will be good if they revive this grossly undervalued loss-making counter.   But as the share price is only one-tenth of its nav (approx RMB 3.10), a back door takeover by any China investor could reap untold benefits.   Hope some investors really see values here as it is really a truly poorly low valuation when one works out the arithmetic.   Bopanha      ( Date: 13-Apr-2012 14:59) Posted: Yah, this company runs mills that make plastic bags for trash  disposals, clinical uses, and many other purposes.    Looking at the last annual report, I agree that this share price is more battered than many others  if we  compare  its NAV to the traded price.  In fact    3.15 RMB  or CNY  is actually  exchangeable to SG$0.60 (60 cents)   if we use the exchange rate of 5 RMB to  SG$1.00. Unfortunately, at first I thought the NAV was 3.15 cents  which was wrong.  The NAV is 315 Cents or 3.15  CNY,   if we follow the principle of dividing the net assets by the number of issued shares..  Thus the share price is grossly below its real value.  Do people realized this?  I don't know.

 

Are you still vested?   This dinosaur of yesteryear's favorite in our local exchange, see some volume of 1.56 million plus shares this morning with spike in price, after rarely traded for long time.

It will be good if they revive this grossly undervalued loss-making counter.   But as the share price is only one-tenth of its nav (approx RMB 3.10), a back door takeover by any China investor could reap untold benefits.  

Hope some investors really see values here as it is really a truly poorly low valuation when one works out the arithmetic.  

Bopanha      ( Date: 13-Apr-2012 14:59) Posted: Yah, this company runs mills that make plastic bags for trash  disposals, clinical uses, and many other purposes.    Looking at the last annual report, I agree that this share price is more battered than many others  if we  compare  its NAV to the traded price.  In fact    3.15 RMB  or CNY  is actually  exchangeable to SG$0.60 (60 cents)   if we use the exchange rate of 5 RMB to  SG$1.00. Unfortunately, at first I thought the NAV was 3.15 cents  which was wrong.  The NAV is 315 Cents or 3.15  CNY,   if we follow the principle of dividing the net assets by the number of issued shares..  Thus the share price is grossly below its real value.  Do people realized this?  I don't know.

 

Yah, this company runs mills that make plastic bags for trash  disposals, clinical uses, and many other purposes.    Looking at the last annual report, I agree that this share price is more battered than many others  if we  compare  its NAV to the traded price.  In fact    3.15 RMB  or CNY  is actually  exchangeable to SG$0.60 (60 cents)   if we use the exchange rate of 5 RMB to  SG$1.00. Unfortunately, at first I thought the NAV was 3.15 cents  which was wrong.  The NAV is 315 Cents or 3.15  CNY,   if we follow the principle of dividing the net assets by the number of issued shares.. 

Thus the share price is grossly below its real value.  Do people realized this?  I don't know.

 

One year has passed.  Nothing happens with the rumours on CFO resignation.  Actually Mr. Jackson was formerly executive from Karine, HK co listed in SGX.

There is obviously a mistaken identity of the company's worth.  Or it has not come to play yet.  If it does come to play, this one can go as high as 80 cents, I think.  Now it is about 6 cents, so be on the alert.

Laulan      ( Date: 16-Apr-2011 12:51) Posted: No big deal for CFO to resign.  He was formerly from Karine,  HK  firm listed  in SGX, working   for about 2 years before he resigned to join ChinaFlex.  He is probably going to join another company for better pay.

 

No big deal for CFO to resign.  He was formerly from Karine,  HK  firm listed  in SGX, working   for about 2 years before he resigned to join ChinaFlex.  He is probably going to join another company for better pay.

 

Per SGX announcement today - 40 yrs old CFO quit w.e.f 1 May to pursue personal interest. Very fishy - Is China FlexP the next to halt...then suspend.....?

 

The reason why I lost quite a handsome amount in FirstLink is that I went to the AGM and heard the " BS" from the directors at the meetings with too much trust on their words and presentations.   3 times all rubbish resulted from their plans.   First, that they claimed the company got cheated by their own directors and hope to lighten the loss doing something, secondly they swap dead investment with a good transaction that turned out to be loss making when they finally went in, and then they are going for a RTO which never materialized.   On hindsight these are all rubbish. All these turned out to be a nightmare for shareholders.   Luckily I am able to withstand such losses having made money in other counters, but I pity those who are trapped.   Actually we can sue the directors of the company, but you need some resources to do it. 

 

I have not touched oil rigs before.   Maybe I should.   Can let me have a few counter names?

Jackpot2010      ( Date: 28-Mar-2011 10:57) Posted: Don't know which 1 " should never touch" but I got stucked in  2 other  s-chips bought recently -  HuanHsin, Sino-Construction  buy@ ~10k ea. Also lost money in penny stocks: Sunnydale, Nippecraft, Hong Fok & Lion Teck Chiang. Luckily, bulk of my portfolio (75%)  in oil rig stock to cover these losses..

 

Actually talking about trust, we only trust the stock exchange because they are the policeman.   If policeman never do his job properly he gets no promotion and can often be sacked from his job.   So when a company is pulling a wool over the auditor's eye and he doesn't see it, he needs to be fired and penalized since he receives a remuneration. The stock market is a rubbish world, to think of it, full of dishonesty, corruption and underhandedness..

 

Don't know which 1 " should never touch" but I got stucked in  2 other  s-chips bought recently -  HuanHsin, Sino-Construction  buy@ ~10k ea. Also lost money in penny stocks: Sunnydale, Nippecraft, Hong Fok & Lion Teck Chiang. Luckily, bulk of my portfolio (75%)  in oil rig stock to cover these losses..

 

Thanks.   Can you share some of the S-Chips that we must never touch? Also what s-chip you are stuck with?   I got a Singapore stock F/Links which lost me about 50K, and it is going to be suspended this friday with little chance of an exit offer.

Jackpot2010      ( Date: 28-Mar-2011 10:30) Posted: arithmetically u r right. But can u trust these nos. now with 3 s-chips  suspension in one go? I kenna caught here. Bought 150x at 20c, cut 78x at 20.5c when results announced wasn't good. Now stucked with 72 lots (sh**!). If u r not into s-chips - keep away to be safe.

 

arithmetically u r right. But can u trust these nos. now with 3 s-chips  suspension in one go? I kenna caught here. Bought 150x at 20c, cut 78x at 20.5c when results announced wasn't good. Now stucked with 72 lots (sh**!). If u r not into s-chips - keep away to be safe.

 

Too Bad the volume never follow through, but there is a silver lining.

But Good news for shareholders if you read the comments required in the announcement of the First Qtr 2011, unaudited. The Company  (C59) has successfully developed a new product,  a metalized CPP film which is widely used in F& B  industry and this is  expected to improve the overall profit margin of the Group.

This counter is one of my S-Chips  because the risk profile is low, the share price being overly discounted as the below figures from latest FQ1 will show:

Net Asset: CNY 1.619 billion (S$311.46 Million) Conversion rate: 0.1924 Yahoo rate.

Paid up shares (issued): 486,129,104 shares of US$0.15 each

Net Asset value per share: (NetAsset divided by total issued shares) CNY 3.33 (i.e. S$0.64)

Market last closed Friday: S$0.13

Discounted from NAV amount: S$0.51 

Percentage of Discount from NAV = 79.68 % WOW my eyes blur already!!!

Please check out and let me know if I am wrong!!

 

ChinaFlex Packagaing coiming back to life on SGX today and trading amongst the top volume counters.

Hope the honeymoon will last.   I think its net asset far exceeds its traded price and probably investors are beginning to realize this.  

 

1H2010 results coming out next week. Worth to accumulate at 20c. Not speculative n Hi NTA (67c) and Lo PE. I expect profit surge of 50%.

 

Profit down, but will they commence the share buy back?  A buy back might meet strong resistance unless company is too flush with cash that it does not know what to do with it!

Anyway, would be good to hold and nibble at the cheap price.

ekekeg      ( Date: 17-Mar-2008 14:19) Posted: Nobody cares nowadays whether you are listed or not at the most prestigeous stock exchanges or not.  Even good counters on the NYSE or NASDAQ or what have you, are being slaughtered like pigs in the abaitoirs. ChinaFlex is no exception. It is going for half its value.  Honestlly if the company can liquidate all assets, or have sufficient cash to buy back all the shares, or go to the extent to give cash back to shareholders, you will probably be richer by 2 times your present holdings.

 

How come drop so much today?

 

Any idea why CFP is battered until like that? Isn't Grp NTA = 60 cents (RMB3.12) and Coy NTA=43 cents (RMB2.45)?

Now trading 15 cents is just one quarter of its GRP nta and one third of its coy nta.  Is there anything wrong with this counter?  I wanna accummulate, yeh sai buay? (boleh ka? keyi ma?).

 

'but they have act on it' .......... should be 'but they have sat on it'.

 

The CFP Managment has got the mandate for share buy-back since 2 year back, but they have act on it. Everyone here is pretty certain that the current share price of 36.5-37c is really in oversold territory. But yet, Mgt themselves are not making some moves. What could be holding them back? Even the date for the approved dividend payment is still not available. But there seems to be some support at 37c today.