Midas_Dec10
Midas has been trading lower since its dual-listing in HK, as has China New Town (below)
CHINA ANIMAL HEALTHCARE didn’t quite roar today on its dual-listing debut on the stock exchange of Hong Kong, ending down 2 cents, or 5.1%, at 37.5 cents in Singapore, the lowest for the day. Highest: 41 cents.

In Hong Kong, the stock closed at HK$2.36, or about 40 Singapore cents.

About two weeks earlier, Kevin Scully, the executive chairman of NRA Capital, in yet another accurate call, had raised the possibility of a dismal showing.

On Dec 9, on his blog, he had noted:

i) Midas Holding had traded down since its dual listing in HK on Oct 6.

ii) Stretched valuations - China Animal
CNTD_duallisting
Healthcare has to deliver at least 50% earnings growth in 2011 to achieve prospective PER of 13 to 15 times, which in the first place is not exactly chip for a S-chip.

iii) At 40 cents, the stock is just 5% from his price target of 42 cents.

“Investors should take some profit on the way up at S$0.40 and above,” he had advised.

“I am therefore removing China Animal from my Stock Picks more because its share have risen 48% since we included it in the portfolio but because the upside is probably about 20% in an optimistic scenario and 5% based on my conservative scenario.”

However, brokers have higher targets for the stock, ranging from S$0.48 to S$0.52.


Recent story: C&O PHARMACEUTICAL, CHINA ANIMAL HEALTHCARE, LC DEVELOPMENT: What analysts now say....

You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings2.420-0.060
Best World2.4800.010
Boustead Singapore0.945-0.010
Broadway Ind0.132-0.007
China Aviation Oil (S)0.930-0.020
China Sunsine0.405-0.005
ComfortDelGro1.460-0.020
Delfi Limited0.915-0.010
Food Empire1.340-0.020
Fortress Minerals0.320-
Geo Energy Res0.310-0.015
Hong Leong Finance2.490-
Hongkong Land (USD)2.960-0.030
InnoTek0.515-0.020
ISDN Holdings0.305-0.005
ISOTeam0.040-0.001
IX Biopharma0.046-0.006
KSH Holdings0.250-
Leader Env0.049-
Ley Choon0.044-
Marco Polo Marine0.068-0.001
Mermaid Maritime0.145-0.002
Nordic Group0.315-0.050
Oxley Holdings0.090-
REX International0.1470.001
Riverstone0.8000.040
Southern Alliance Mining0.485-
Straco Corp.0.495-
Sunpower Group0.215-0.005
The Trendlines0.063-0.007
Totm Technologies0.024-0.001
Uni-Asia Group0.820-
Wilmar Intl3.500-0.040
Yangzijiang Shipbldg1.750-0.020
 

We have 491 guests and no members online

rss_2 NextInsight - Latest News