Sino Grandness

just keep paying and and paying to stay listed? ain't tat same as channel-stuffing?

(04-03-2015, 03:18 PM)brattzz Wrote: just keep paying and and paying to stay listed? ain't tat same as channel-stuffing?

Hi Brattzz:


Are you saying that after being kicked out of 7-Eleven, wait a while and apply to get back by paying a new listing fee?

Thais bought 86mil at $0.4035 cents. Shares ended at $0.26.
35% loss or ~$12mil loss within the span of 2 months..

If CEO is sincere about boosting shareholders' confidence, why didn't the company consider share buyback?

Not sure how the Thais are feeling now...

To the Thai tycoon, a loss of 3% of his net worth should not be too big an issue.
Moving forward, SFIG should do something to buy confidence from the market. Right now, the issue is the trust the market has of the company and nothing else. Therefore, the listing of Garden Fresh should be done to instil that.

I am looking forward to the Annual report of SFIG to see the net profit of the beverage segment and hope an IPO will still take place. There are 3 months left for the company to IPO. IMO, the drop in share price could be an indication of insider knowledge that the IPO wont happen and they are raising more funds (just my speculation). This is because the short selling volume on SGX is quite low.

Just thinking a loud, one way to verify "Garden Fresh" is to email IR of China Minzhong. Mention you notice they have a loquat drink which gives high GPM and ask are they intending to expand this segment, their market share and who are the key competitors.

Is Sino Grandness a fraud?

The reason why I'm asking this question is because of the 48%(YoY) plunge in the revenues of the contract cannery business in 4Q. Mgmt has attributed the fall in revenues to weak demand in Europe.

However, given the nature of the contract cannery business--making canned food products(such as canned long beans and asparagus) with stable demand for globally renowned customers across Europe(such as Lidl, Rewe, Carrefour, Huepeden, Coles and Metro)---I find Mgmt's explanation inadequate and implausible.

Of course, I'm not saying that quarterly revenues for the contract cannery segment cannot fall 10% or 20% YoY. But a halving of quarterly revenues and Mgmt can only offer "weak demand in Europe" as an explanation?

Also take note that Mgmt has been able to grow revenues in 2008-2009(Great Financial Crisis) and 2011(European sovereign debt crises) when the demand situation was clearly worse than the present days.

Maybank Kim Eng one of the active coverage for the stock just announced that they are discontinuing coverage of Sino due to portfolio rebalancing...

Maybe Thai $ has an exit loop? conspiracy theory?

No Vested Interests
GG

There was no talk on ipo in their full year statement on forecast commentary for the next 12 mths.

One way to recognise fraud is to do a comparison. Look at how the other f&b are doing. Download Hui Yuan and find the % of sales it spend on advertising. Then look at SinoG. Then ask if the results make sense to you. Logically for a 'new' company with 'new' product it should spend a lot on advertising over sales.

not vested

Investing in s chip takes a lot of time and patience, and higher risk given the typically bad governance or simply mis-conception of bad governance. if u don't have any of these, its better to stay away.

this is could be the 2nd s chip that fail me, i surely hope it wont (the other one was hongxing sport). I'm live with it anyway if sinoG turn out to be bad call, as my other s chip have done well... if not very well.

I will highlight the dangers of investing into china stocks. If many will remember, we had a stock called China Eratat. It looked a very legit company; gave constant dividends, real shop front which sold Eratat products and was a sponsor for a Chinese TV program. So things may seem real and even can be bought in China, but still what is reflected on B/S was faked. Other warning signs of Eratat was its High receivables (more than 90 days of revenue), high cash and yet raised more capital and the sudden renovation subsidy to its customers.

Some of the traits are again reflected in the SFIG case, I am vested but just issuing some warning for rather new investors.

Addition stuff to clarify: SFIG shares are held by TTA and not the Thai Tycoon himself. Therefore TTA holds 9% of SFIG currently.In turn, the Thai holds less than 50% of TTA. Also, the investment into SFIG is only 1.7% of TTA's market cap

story still on-going,lets continue to monitor,