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I bet it will drop below 2 cents...
Sanlem is still dumping...
(19-11-2012, 07:56 PM)potatolover Wrote: All time low of 2.8 cents hit!
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20-11-2012, 10:00 PM
(This post was last modified: 20-11-2012, 10:01 PM by Underdogger.)
If CHina Essence urgently needs cashflow to pay for the Dec CB Instalment, do u think it can go to a "pawnshop" to pawn its starch production plants?
Who will buy this type of asset? We are talking about starch production factory in the middle of nowhere. this is not gold or Rolex watch. Furthermore, if a sale does get transacted, it will be at a super deep discount of at least 80%. When one goes to "pawn" items at Pawnshop, one would get a deep discount too. Moreoever, this is a production plant. A plant without farmers providing a supply of potato is USELESS..Who will buy china essence's distressed assets?
So, cannot do RIGHT Issues, cannot issue CB and cannot sell assets...
What can Mr China Essence do to save itself ??
(15-11-2012, 03:16 PM)jzk Wrote: (15-11-2012, 03:01 PM)Curiousparty Wrote: Can China Essence shareholders get back NAV if company folds up?
We know it will never happen that way or else those deeply undervalued companies (MV versus NAV) will be bought up..
There is no quick way out. Even bankrupcy wouldn't be quick.
Businesswise the situation is difficult, though not impossible. The only thing that could turn this ticker gold is widening gross margin. And that will take time, more than two years even in the most positive scenario. I am not too optimistic about it, but we are all dealing with assumptions, not certainities.
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I salute the brave souls who still continue buying 
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Can we ask Muddy Water to help us do background checks on all the S-chips to ensure they are at least clean on their book keeping (despite poor results)?
many were previously 20 to 30 cents, now most of them are less than 5 cents....
(21-11-2012, 09:51 AM)Curiousparty Wrote: I salute the brave souls who still continue buying
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22-11-2012, 08:18 PM
(This post was last modified: 22-11-2012, 08:19 PM by jzk.)
(20-11-2012, 09:00 AM)Curiousparty Wrote: I bet it will drop below 2 cents...
Sanlem is still dumping...
Dumping began 16.8.2012, and since that moment 24.967.000 shares have been traded (I still have no idea whether an off-the-record upstairs market exists or not - probably not).
That makes around a million sg-dollars. It is a somewhat big pile of money, especially for a close-to-bankrupcy nanocap company.
Should most of that sell side volume come from Sanlam, they would still have volume for two weeks (volumes after the q2 report at around 1-2M per day).
(21-11-2012, 09:23 PM)Underdogger Wrote: Can we ask Muddy Water to help us do background checks on all the S-chips to ensure they are at least clean on their book keeping (despite poor results)?
many were previously 20 to 30 cents, now most of them are less than 5 cents....
You don't think you should somehow relate these numbers to the business volume or total number of shares considering each company you refer to? Or are these just numbers on a roulette wheel for you?
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27-11-2012, 04:44 PM
(This post was last modified: 27-11-2012, 07:17 PM by jzk.)
33.959.000 shares traded during the dumping of recent 3 months. Largest shareholders as of 14.6.2012:
Mr. Zhao 172.244.000
Populus Fund 38.384.000
Sanlam Universal 36.711.000
Value Partners 22.788.000
The rest smaller...
Not too many suspects left.... Still hope it's Sanlam.... Did mr Zhao have actual cash, when he injected it into company last winter? I would not like to see his ownership diluting...
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27-11-2012, 08:06 PM
(This post was last modified: 27-11-2012, 08:08 PM by Curiousparty.)
i think it will drop to around 1.5 cents and stablized around there ...
Basically, one with about 8mil can just buy over this company based on the current share price and inherit the NAV of 51 cents if it is still worth so much...
I guess when a company folds up, the NAV does not make much sense whether it is 50 cents or 5 cents. A bankrupt coampany is a bankrupt company!
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(27-11-2012, 04:44 PM)jzk Wrote: 33.959.000 shares traded during the dumping of recent 3 months. Largest shareholders as of 14.6.2012:
Mr. Zhao 172.244.000
Populus Fund 38.384.000
Sanlam Universal 36.711.000
Value Partners 22.788.000
The rest smaller...
Not too many suspects left.... Still hope it's Sanlam.... Did mr Zhao have actual cash, when he injected it into company last winter? I would not like to see his ownership diluting...
If this is the case, why there are no announcements in SGX?
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27-11-2012, 10:22 PM
(This post was last modified: 28-11-2012, 05:01 AM by Curiousparty.)
Just get a few chaps of its own people to buy out on the cheap. One chap can buy up to 4.99%, without the need to declare to SGX.
In this way, the company can be taken private on the cheap??
(27-11-2012, 10:09 PM)Humble Wrote: (27-11-2012, 04:44 PM)jzk Wrote: 33.959.000 shares traded during the dumping of recent 3 months. Largest shareholders as of 14.6.2012:
Mr. Zhao 172.244.000
Populus Fund 38.384.000
Sanlam Universal 36.711.000
Value Partners 22.788.000
The rest smaller...
Not too many suspects left.... Still hope it's Sanlam.... Did mr Zhao have actual cash, when he injected it into company last winter? I would not like to see his ownership diluting...
If this is the case, why there are no announcements in SGX?
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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28-11-2012, 05:09 AM
(This post was last modified: 28-11-2012, 12:19 PM by Curiousparty.)
CEO Zhao Libin can try taking the company private on the cheap.
HK$12mil = S$1.89mil. Just need to get another $6m more. probably a few of his friends...
If the share price falls to 1 cents, then only abt $4mil is needed.
Sanlem might have been forewarned by company. that is why it is pulling all its fund out.
Not sure if the source of its fund is from pensioners....old thing...sigh
Feb 2012 announcement
The Issuer wishes to announce that it had on 20 February 2012, obtained an interest-free loan of
HK$12,000,000 from its Chief Executive Officer, Mr Zhao Libin (the "Loan"), the proceeds of which
have been used to make payments in respect of the outstanding amounts due pursuant to the First
Redemption. The Trustee has, on 21 February 2012, confirmed to the Issuer that it has received such
payment. There is currently no fixed repayment date for the Loan.
(27-11-2012, 04:44 PM)jzk Wrote: 33.959.000 shares traded during the dumping of recent 3 months. Largest shareholders as of 14.6.2012:
Mr. Zhao 172.244.000
Populus Fund 38.384.000
Sanlam Universal 36.711.000
Value Partners 22.788.000
The rest smaller...
Not too many suspects left.... Still hope it's Sanlam.... Did mr Zhao have actual cash, when he injected it into company last winter? I would not like to see his ownership diluting...
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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