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no ah kong support.....down to 0.60 range kah??
derekchong ( Date: 26-Aug-2013 11:00) Posted:
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Minzhong drops after short-seller calls shares worthless
4 minutes ago
China Minzhong Food is under some selling pressure this morning after a short-selling firm accused the vegetable producer of fraud and called its shares " worthless" .
Californian short-seller and research firm Glaucus Research Group said Singapore-listed Minzhong " closely resembles Chaoda Modern Agriculture, another Fujian-based vegetable producer that has been halted since September 2011 under widespread allegations of fraud."
no big brother support, going to be worst than Olam.
super free fall now 76c.. drop 25%
Y CMZ doesn't halt the share and clarify?
like whole Singapore shorting this stock..
Dik, u ok tak...sudah keluar awal awal tak? teruk sekali lah kali ini. i tak masuk....
from the looks of it, people believe them whether the report is right or wrong
80c..20% drop..
China Minzhong shares fall 13 percent after report by shortseller Glaucus
SINGAPORE, Aug 26 (Reuters) - Shares in Singapore-listed
China Minzhong Foodfell more than 13 percent on
Monday after a research house with a short position in the
company accused the vegetable producer of irregularities in its
sales figures.
Glaucus Research Group issued a report that said the
irregularities involved sales to China Minzhong's top two
customers, according to " corporate registry records" .
A spokesman for China Minzhong said the company had no
immediate comment to make.
Shares in China Minzhong fell as much as 13.3 percent with
more than 9.4 million shares traded, more than three times the
average full-day trading volume of 2.5 million 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.
Glaucus Research, which is based in California, said they
and their associates have a direct or indirect short position in
the company so stand to make money if its share price declines.
SINGAPORE, Aug 26 (Reuters) - Shares in Singapore-listed
China Minzhong Food
Monday after a research house with a short position in the
company accused the vegetable producer of irregularities in its
sales figures.
Glaucus Research Group issued a report that said the
irregularities involved sales to China Minzhong's top two
customers, according to " corporate registry records" .
A spokesman for China Minzhong said the company had no
immediate comment to make.
Shares in China Minzhong fell as much as 13.3 percent with
more than 9.4 million shares traded, more than three times the
average full-day trading volume of 2.5 million 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.
Glaucus Research, which is based in California, said they
and their associates have a direct or indirect short position in
the company so stand to make money if its share price declines.
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..
Sinogrand oso affected by the cmz sell down.
Aberdeen123 ( Date: 26-Aug-2013 10:41) Posted:
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Sell fast before they suspend the stock and you lose everything.
Better avoid.all china counter....
Last:0.86 Vol:10904k
-0.155
15% down
ozone2002 ( Date: 26-Aug-2013 10:32) Posted:
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Never trust brokerage house call too much.
Hope you are out.
Aberdeen123 ( Date: 22-Aug-2013 11:43) Posted:
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wow, was attacked like Olam. Not forgetting that now is trading below the buying price by Indofood this year.
drop 10%.. now 90.5
Last:0.95 Vol:7072k
-0.065
panic @ the disco.. lowest 92c..
Glaucus guys are a bunch of amateur guys who only short sell stocks. Their reports are completely biased.... I just read it looks like it was written by a kid. Anyway they short sell and then release 'reports' trying to influence the market. As there are not many research reports on cmz it might be enough to explain why it goes down this morning but this should not last long. Good opportunity to buy. Might buy a few lots this morning let's see
Only for those who know how to appreciate "chai poh" heheeee
bishan22 ( Date: 26-Aug-2013 10:10) Posted:
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haha Glaucus Research initiate with Strong Sell rating?! These guys are not even a boutique research firm. I just looked at their website and 'research reports'. They really don't seem to know much about finance. Well they have hundreds of strong sell rating so maybe they will be right for a few after all...