China Minzhong   

China Minzhong Food forum

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JarolLo
    26-Aug-2013 17:47  
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From now on, avoid China play. This " virus" may spread to other S chips counters. Be careful.
 
 
wait4opp
    26-Aug-2013 17:43  
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GONE CASE....
 
 
Peter_Pan
    26-Aug-2013 17:27  
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Very short time frame until suspension is compulsory. Brokerages are very likely to remove CMZ from the margin list very soon. Margin and contra players
 

 
Peter_Pan
    26-Aug-2013 17:19  
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Hope the management gives the shareholders a reasonable explanations on the allegations by this week. Otherwise something is really very amissed..
 
 
srichipan
    26-Aug-2013 17:14  
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Their report focused alot of pre IPO activities?
 
 
justapeon
    26-Aug-2013 17:07  
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They got it all wrong.  I will buy first and let you know why.
 

 
Henry$$$
    26-Aug-2013 17:05  
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S-chip is very risky unless backed by strong organization!!
 
 
justapeon
    26-Aug-2013 16:39  
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That angmo sea slug got it all wrong!

 

 

 

 

 
 
 
wait4opp
    26-Aug-2013 16:26  
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If not true, today 4pm sure will resume trade and the company will do a share buy back.....to gain the investors confidence....

NOW....no news.....so should be really have the issue being CHU MAI.....

C LIAO

FOR EVER HALT till Bankrupt.

Integrity      ( Date: 26-Aug-2013 15:57) Posted:

Pray if it can resume trading first.

 
 
Peter_Pan
    26-Aug-2013 16:13  
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Those clients who hooted big early in the morning on their report sure pui at them..4D also not so zhun. Wonder whether the TRs quickly get their clients to cut loss?

ozone2002      ( Date: 26-Aug-2013 10:47) Posted:



Singapore Daily
China Minzhong: Earnings Preview Buy TP $1.36
MINZ SP | Mkt Cap USD520m | ADTV USD2.4m
Ø  China Minzhong will publish its 4QFY6/13 results this Thursday before market. We are looking at revenue of RMB685m and net profit of RMB164m. Possible YoY and QoQ decline are due to seasonality reason.
Ø  In our view, there are two short term catalysts for Minzhong: 1) supply contracts from Indofood and 2) first dividends payout since IPO, which could help to argue for a re-rating case for the stock.
Ø  Recent developments of the company include the first-time credit rating (Ba3) given by Moody?s and the issuance of USD150m syndication loan underwritten by Citibank and Standard Chartered. In our view, this could help to rebuild investors? confidence. Maintain BUY and TP SGD1.36, pegged to historical average of 5x FY6/14 PER.

 

from ur friendly Malaysian brokerage house Maybank.. issue this morning..

 

 
Integrity
    26-Aug-2013 15:57  
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Pray if it can resume trading first.
 
 
Tempest
    26-Aug-2013 15:52  
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When will the halt be lifted? Sensing strong rebound ahead!
 
 
hyruga
    26-Aug-2013 15:07  
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Henry$$$
    26-Aug-2013 15:06  
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SELLall
    26-Aug-2013 14:51  
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Think That Ang mo com had short big big..
 

 
Peter_Pan
    26-Aug-2013 14:41  
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Short-seller hits China food firm in rare Singapore attack

* Short-seller says China Minzhong misled investors about 
sales 
* China Minzhong: taking legal advice, halts trading in 
shares 
* Shares plunge 50 percent 

(Updates with details of suspension, comment from China 
Minzhong) 
By Rachel Armstrong and Anshuman Daga 
SINGAPORE, Aug 26 (Reuters) - Food producer China Minzhong 
Food Corp Ltd  on Monday became the first 
Singapore-listed Chinese firm to come under attack by a 
short-seller, which wiped off more than 50 percent of its market 
value in two hours and triggered a trading halt. 
Short-sellers have in recent years targeted Chinese 
companies listed in Hong Kong, Canada and the United States, 
citing irregularities, but they have so far avoided any of the 
143 China-based firms listed on the Singapore Exchange Ltd 

China Minzhong, which until Monday's share price slump had a 
market value of around $520 million, was hit after 
California-based Glaucus Research Group issued a report alleging 
the company misled investors about sales to its biggest 
customers. 
The report also raised questions over the credibility of 
China Minzhong's financial performance compared to its peers. 
Glaucus said they and their associates have a direct or indirect 
short position in the company. 
Travis Seet, China Minzhong's financial controller, told 
Reuters the company was taking legal advice on how to respond to 
the report. He declined to make any further comment and trading 
was halted pending an announcement from the company. 
China Minzhong listed in Singapore in 2010 and has attracted 
several big-name investors, including Singapore sovereign wealth 
fund GIC which sold its 14.4 percent stake in February to 
Indofood Sukses Makmur Tbk PT  . Indofood had no 
immediate response to the queries on China Minzhong. 
Other large investors include Franklin Templeton Investments 
Corp, which holds just under 11 percent of the food producer, 
according to Thomson Reuters data. 

BIG BLOW 
Analysts said China Minzhong will struggle to recover from 
its share price plunge regardless of the veracity of the 
short-seller's allegations. 
" Given the huge damage done already, we believe it will be 
an up-hill task (especially without GIC's backing now) for the 
company to re-build confidence," Lim & Tan Securities wrote in a 
note. 
Shares in China Minzhong fell 47.8 percent in two hours of 
trade before the company requested a trading halt. Nearly 24 
million shares were traded, almost ten times the average full 
day volume traded over the past month. 
Four analysts have a 'buy' or 'strong buy' on the stock, 
Thomson Reuters data shows. China Minzhong is due to release 
full-year results on Aug. 29. 
A number of Chinese companies listed in Singapore ran into 
accounting problems in 2008 and 2010, denting investor 
confidence in the stocks, known as S-chips. 
The Singapore Exchange has since then taken steps to improve 
corporate governance of listed companies and after the trading 
halt, the regulator said it had asked China Minzhong to confirm 
the company was in compliance with the rules. 
China Minzhong is not the only China-based stock targeted by 
Glaucus this year. 
The group, whose research is overseen by former lawyer Soren 
Aandahl, accused Hong Kong-listed China Metal Recycling Group of 
fraud in January this year. Hong Kong's securities regulators 
has since applied to the courts to have China Metal Recycling 
liquidated. [ID:nL4N0G02IW] 
Last year, high-profile short seller Muddy Waters attacked 
Singapore commodity trading firm Olam  prompting the 
company to raise cash as its stock and bond prices tumbled. 
Singapore state investor Temasek, stepped in to prop the 
company, raising its stake to 24 percent from 16 percent.
 
 
hello123
    26-Aug-2013 14:40  
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told our sgxswingers chatroom China minzhong is on inexorable downward trajectory to unrecognizable muddy levels

since it hit our recent peak tgt   of 115...   now 46.5c and halted 

for more details see my CMZ chart   in  http://sgxswinger.blogspot.sg/

hello123      ( Date: 22-Aug-2013 05:38) Posted:



China Minzhong has been on a downward trajectory

from peak of 115   since we last spoke, now 103

for more details , see  my CMZ chart    in  http://sgxswinger.blogspot.sg/  tq 

hello123      ( Date: 16-Jul-2013 03:41) Posted:



CMZ has been on a run since it hit my bottom   tgt 91c ,

now 113, may hit 115-117 before reacting down .. 

for more details , see my CMZ chart   t


 
 
sharefbb05
    26-Aug-2013 14:20  
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Now can get at 0.53. Upside potential is 83cent.

China Minzhong Strong buy


guoyanyunyan      ( Date: 26-Aug-2013 13:56) Posted:



...Maybank Kim Eng has a TP of $1.36 today...

  https://cced0bba-a-62cb3a1a-s-sites.googlegroups.com/site/researchreport92/MaybankKimEng_ChinaMinzhong26082013.pdf?attachauth=ANoY7cpwIY8lUyduFbVbrg-gsWnSOWJBBwNSa_ElwpfIZoHRTuagwGG0obE0lfqLEPcBvfo12S2oRLJeJqgoTMRPCmAskfxKMNF0Z8RP3SktsFWjLOp_t7EvWGQxQPKrCYUFAI7DEsUk4jbpNVJtQhmc6gSXKI7RnP1kS4z97pgD3BoGh9Fwqy42W9iFIaKH3abagpUm-dvtTjuDChKc3iYy7-NFSy3P8RliKKlpwl_WNkn7cyvTpIbeoLZ25bZ9Jvkb3V3RyOMO& attredirects=0

 

 
 
ipoh12
    26-Aug-2013 14:19  
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hope no one in this forum got burn ..... 

http://misimpleinvest.blogspot.sg/

 
 
 
Winson
    26-Aug-2013 14:07  
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Bro you right. China stock cannot trust, my boat sunk because of china till now stay far far away from them Liao .

wait4opp      ( Date: 26-Aug-2013 12:42) Posted:



ZERO VALUE STOCK FROM NOW

BUYERS DEAD ==> MONEY BEING LOCK.

SHORT SELLERS ALSO DEAD ===> NO STOCKS TO BUY

MARGIN CALL FOR ALL THE SHORT AND LONG......

ALL DEAD

CHINA STOCKS BO SAI SNG