China Essence

You are right on this!..
The company dares not hold its AGM in Spore ever since it made losses for full-year results...

Cowards!

(04-07-2013, 07:31 PM)Stockerman Wrote: Auditors are issuing some statements to cover their own backsides...

The key is Essence has no supporting evidence to provide to auditors to show that banks are willing to renew the loans, etc...

it is just a matter of time before death comes....

anyone here going for CHina Essence AGM?

Any hope for China Essence with removal of control on the rates?





China's central bank announced long-awaited interest rate reforms on Friday, removing controls on the rates banks may charge clients for loans, in a step towards more market-driven pricing of credit.
The People's Bank of China (PBOC) said in a statement on its website that it was removing its floor on lending rates for commercial banks, meaning that banks will now be able to cut rates as much as they see fit to attract borrowers.
The central bank said it hoped the move will lower financial costs for companies.

At the macro level, economic growth is expected to be subdued.
There would come a time where govt would just have to let some of these zombie companies kick the buckets...

(20-07-2013, 07:14 PM)Stockerman Wrote: At the macro level, economic growth is expected to be subdued.
There would come a time where govt would just have to let some of these zombie companies kick the buckets...

China's finance minister denied that the world's second-largest economy was entering a crisis period, adding that he believed growth could even accelerate, as quoted by the official Xinhua news service in an interview.


http://uk.reuters.com/article/2013/07/21...2M20130721

CHina Essence just reported another quarter of losses...

(24-07-2013, 09:27 PM)Stockerman Wrote: CHina Essence just reported another quarter of losses...

They mentioned starch price has improved.

their next line of defence for poor results will be "although starch price has improved, the production volume is too small, and as a result, fixed costs will be spread over a much smaller production volume, resulting in heavy losses again"...

unlikely to survive beyond this year....just wait and see...

The stock price seems to react positively to the bad news. Wondering if it is to trap more retailers.. or is a good expectations of things to come

can gamble....1mil shares only 27K. If share prices improve to say 4 cents, it is about 50% gain, A lot of people like to gamble with penny stocks..

(25-07-2013, 09:39 AM)happyharvest Wrote: The stock price seems to react positively to the bad news. Wondering if it is to trap more retailers.. or is a good expectations of things to come