why china minzhong drop until 69 cts?

Guest 007
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11 years 4 months ago #12452 by Guest 007

Replied by Guest 007 on topic Re:why china minzhong drop until 69 cts?

Personally, i hv more faith with CMZ's accounting than other penny or china stocks as GIC n other big funds are invested in the stock. I seriously think these funds will do their due deligence n scruntinize investment issues such as accounting. Better than many other smaller companies. My take.

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ethan999
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11 years 2 months ago #13362 by ethan999

Replied by ethan999 on topic Re:why china minzhong drop until 69 cts?

I hope those of you who bought China Minzhong in the middle of last year have continued to hold onto it until now.Â
With an entry price of just below 60 cents, I'm now sitting on almost 100% gains on Minzhong.
Indofood's entry into China Minzhong is very good news. Despite the dilution via placement, the potential synergies involved between Indofood and China Minzhong are a big boost to Minzhong's prospects.Â
Indofood, which also owns Indo Agri, is now the largest shareholder in China Minzhong. As the largest shareholder, there's also a reasonably good chance that it will continue to increase its stake in future, to enable it to become the controlling shareholder. Indofood's entry into Minzhong also gives it a more international profile, giving Minzhong access to South East Asian markets, and in particular, Indonesia, the largest economy in South East Asia.Â
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Val
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11 years 2 months ago - 10 years 11 months ago #13363 by Val

Replied by Val on topic Re:why china minzhong

Still holding! But feeling nervous at the height.

Have more confidence in your other recommendation, Sino Grandness. Think this one can reach $2.00. Hahaha.

Last edit: 10 years 11 months ago by Val.

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Val
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10 years 11 months ago #14011 by Val

Replied by Val on topic Re:why china minzhong

Hopefully, dividends will come soon from Minzhong!

Management has guided for a dividend payout -- and thank goodness for the rising free cash flow. :ohmy:

CIMB : If just half is paid out (20% payout), dividend yield will hit 5%. Management guided that it aims to match Indofood’s 40% payout ratio over time. This translates into a yield of 9%, based on the current price. Should this materialise, it will allay corporate governance concerns.

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pine
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10 years 8 months ago #15831 by pine

Replied by pine on topic why china minzhong drop until 69 cts?

ethan999: what do you think?

SINGAPORE, Aug 26 (Reuters) - Shares in Singapore-listed China Minzhong Food fell 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.

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pine
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10 years 8 months ago #15832 by pine

Replied by pine on topic why china minzhong drop until 69 cts?

MAYBANK KE - 26 AUG 2013

Trading calls here - singaporetradinginsights.blogspot.sg/

China Minzhong: ($0.53) Shares plunge 50% on short seller report alleging fraud

Shares of China Minzhong slumped 48% to $0.53 on high volume, after short-seller, Glaucus Research Group recommended a Strong Sell on the stock.

Glaucus believes that Minzhong resembles HK-listed Chao Modern Agriculture, another Fujian-based vegetable producer which shares have been halted since Sep ’11 under widespread allegations of fraud. The short-seller says that Minzhong has “so significantly deceived regulators”, and inflated the scale of its business and its financial performance, that it expects trading in Minzhong’s shares to be halted and the “shares to be worthless”.

Glaucus has received much investor attention of late, particularly after its successful and high-profile unraveling of HK-listed China Metal Recycling as a fraud case. The stock has since been suspended, and the company Chairman investigated for alleged false accounting.

The market’s response to past short-seller reports by names with successful track record (eg. Muddy Waters), has been to “sell the stock first, and ask questions later”. As such, we remove China Minzhong from our Value portfolio, and close the position with a 47% loss.

This event may trigger spill-over negative sentiment and investor suspicion on other S-Chips. In particular, we highlight risk in China Minzhong’s peer, Sino Grandness ($1.32), a Chinese canned food and juice maker. We remove the latter from our Growth portfolio.

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