China Minzhong Food Corporation

(31-08-2013, 02:47 PM)desmondxyz Wrote:

(31-08-2013, 12:51 PM)sgd Wrote: maybe indo hoping for it to tank further before having a GO, The media has stoked the market negativity toward cmz everybody is panic dumping and running If you are indofood isn't this a chance to increase shareholding or even buy it all out for cheap? after all what's the point in trying to prove to people that the investment is sound what would the gain be for that?

Indo cannot GO with price less than 1.1x which they paid for GIC stake...with current situation, do u think Indo going to be 菜头?

Why Indofood cannot pay less than $1.1?? Can if Indofood buys its stake more than 6 months ago. (SGX Annc website down - I cannot check the completion date or the date of last purchase. Anyone know?)

If Indofood cross 30% by buying at 53 cents tomorrow and trigger Mandatory GO, the min Offer Price will highest price paid for past 6mths, i.e. 53 cents.

(31-08-2013, 05:32 PM)opmi Wrote:

(31-08-2013, 02:47 PM)desmondxyz Wrote:

(31-08-2013, 12:51 PM)sgd Wrote: maybe indo hoping for it to tank further before having a GO, The media has stoked the market negativity toward cmz everybody is panic dumping and running If you are indofood isn't this a chance to increase shareholding or even buy it all out for cheap? after all what's the point in trying to prove to people that the investment is sound what would the gain be for that?

Indo cannot GO with price less than 1.1x which they paid for GIC stake...with current situation, do u think Indo going to be 菜头?

Why Indofood cannot pay less than $1.1?? Can if Indofood buys its stake more than 6 months ago. (SGX Annc website down - I cannot check the completion date or the date of last purchase. Anyone know?)

If Indofood cross 30% by buying at 53 cents tomorrow and trigger Mandatory GO, the min Offer Price will highest price paid for past 6mths, i.e. 53 cents.

Can check from CMZ site,

http://www.chinaminzhong.com.sg/html/cor...ments.html

(31-08-2013, 05:43 PM)KopiKat Wrote:

(31-08-2013, 05:32 PM)opmi Wrote:

(31-08-2013, 02:47 PM)desmondxyz Wrote:

(31-08-2013, 12:51 PM)sgd Wrote: maybe indo hoping for it to tank further before having a GO, The media has stoked the market negativity toward cmz everybody is panic dumping and running If you are indofood isn't this a chance to increase shareholding or even buy it all out for cheap? after all what's the point in trying to prove to people that the investment is sound what would the gain be for that?

Indo cannot GO with price less than 1.1x which they paid for GIC stake...with current situation, do u think Indo going to be 菜头?

Why Indofood cannot pay less than $1.1?? Can if Indofood buys its stake more than 6 months ago. (SGX Annc website down - I cannot check the completion date or the date of last purchase. Anyone know?)

If Indofood cross 30% by buying at 53 cents tomorrow and trigger Mandatory GO, the min Offer Price will highest price paid for past 6mths, i.e. 53 cents.

Can check from CMZ site,

http://www.chinaminzhong.com.sg/html/cor...ments.html

Looks like it is early March 2013.

So Indofood can wait a few days to get pass 6 months reference price for the Offer.

With so much farm lands at stake (I read from this thread - easily few hundred thousand 'mu' of land), if they are real farms land, i guess it requires Chinese authorities approval for that go. Dun think is easy. With Chinese farmers got their own and ancestor lands got grabbed by the gov't, do U think they will let an outsider indon to do a go to gain control of the state land? quite a fat hope

Related to Glaucus Research .... attacking SouFun China in Apirl2013. Price drop 15% from 26 to 22...

Price today is 40.


SouFun Management Commented on a Short Seller's Report

BEIJING, April 5, 2013 /PRNewswire/ -- SouFun Holdings Limited (NYSE: SFUN, "SouFun"), the leading real estate and home related product and services Internet portal in China, responded to a short seller’s report today:

A short seller (Glaucus Research Group: “We are short seller. We are biased.”) published a report yesterday on SouFun. We think their conclusions are misleading. Here are our comments with respect to the report’s 7 summaries:

http://ir.soufun.com/phoenix.zhtml?c=233...&highlight=


So, let's see how CMZ management response to the allegation tomorrow.

The S-chips sector exhibits all the classic signs of a failed state.

It’s a land where crime goes unpunished, where fires burn unextinguished, where citizens wander the streets alive but dazed, where the future is too foggy to inspire any feeling but despondency.

You've been warned.

(01-09-2013, 11:14 AM)minimax Wrote: The S-chips sector exhibits all the classic signs of a failed state.

It’s a land where crime goes unpunished, where fires burn unextinguished, where citizens wander the streets alive but dazed, where the future is too foggy to inspire any feeling but despondency.

You've been warned.

i think if i look at CHINA through my eyes or of people only living in this "Tiny red Dot" and never been out of the this Tiny Red Dot, of course our PAPIES is wonderful.
Do you think the OLD-MAN and his Cronies can run CHINA like Singapore? In fact i remember the OLD MAN said something like he couldn't survive as a politician in China's political system. Correct me if i am wrong.
Though i am a Singaporean of Chinese origin, i dislike many things practise by Chinese people of CHINA.
i say all this, to remind people, Politics & Economics & Your Money can't be separated; Less some people accuse me again i am talking about politics here wasting their time.
When you invest in a country, Singapore included, you have to take the political climate into consideration. So from time to time, politics will be mention; especially it affects your money and investment directly or indirectly.
Now can we talk about politics sometimes?

(26-08-2013, 06:40 PM)Wildreamz Wrote: If the report is true, and seems like it is, this is the first big loss I experienced in my investment journey.

I am heavily vested in this company (>30%), without knowing better.

So sorry to hear that. I am not sure if this will make you feel better. I too was an investor in China Minzhong and lost money. Fortunately, I took my losses earlier last year perhaps because of the lessons learnt as a member of the United-Fool club (that's an old story which WallStraits members will know).

There is a systemic flaw in China stocks listed in foreign exchanges. It is very tempting for the China bosses of these companies to steal. They have the opportunity to steal lots of money. Even if caught, they go unpunished. The assets and the criminal are overseas. There is nothing the law enforcers can do because the assets and the criminal are beyond the reach of the law. The China authorities have no incentive to allocate resources to help foreigners catch their own people, if they are busy enough with their own problems.

The shame factor may also be lacking. If those China bosses don't steal under such conditions, will they be regarded as stupid? Will they even be respected when they manage to pull off a big robbery? Cheating on girlfriends and wives is evil. Unfortunately, men sometimes boast about it because it is not despised and even respected. I think you guys know what I mean.

Under such circumstances, I will still be worried even if the China bosses are honest by nature because such a system drives even good men to behave badly. Every man has a price. Most, if not all, of us will be honest when entrusted with one hundred dollars. The number of honest men drops when the amount rises to $1m. In the equity market, we are talking about tens or even hundreds of million. Combined that with the high probability to go scot-free and the lack of shame, can you trust S-chips with your money?

No margin of safety is adequate when you deal with dishonest men (not referring to any particular group, including S-chip bosses). What is worse is when you deal with people who cannot be trusted even when they are relatively honest because the system rewards them to be dishonest. You can extend this to the large segments of the financial services industry that is fraught with conflicts of interest. Hence, when it comes to money, trust yourself only with your own money.

For What It's Worth, the equivalent of SEC in China forewarned the risk of Chinese companies listed in foreign exchanges. Those companies are not recognized or regulated by the equivalent of SEC in China as they are mostly registered in Cayman Island, BVI, etc. It will not assist in any charges against Chinese subsidiaries of those companies as the foreign exchanges deliberately ignored the warning of the equivalent of SEC in China to accept the listing of those companies.

(01-09-2013, 01:04 PM)hyom Wrote:

(26-08-2013, 06:40 PM)Wildreamz Wrote: If the report is true, and seems like it is, this is the first big loss I experienced in my investment journey.

I am heavily vested in this company (>30%), without knowing better.

So sorry to hear that. I am not sure if this will make you feel better. I too was an investor in China Minzhong and lost money. Fortunately, I took my losses earlier last year perhaps because of the lessons learnt as a member of the United-Fool club (that's an old story which WallStraits members will know).

There is a systemic flaw in China stocks listed in foreign exchanges. It is very tempting for the China bosses of these companies to steal. They have the opportunity to steal lots of money. Even if caught, they go unpunished. The assets and the criminal are overseas. There is nothing the law enforcers can do because the assets and the criminal are beyond the reach of the law. The China authorities have no incentive to allocate resources to help foreigners catch their own people, if they are busy enough with their own problems.

The shame factor may also be lacking. If those China bosses don't steal under such conditions, will they be regarded as stupid? Will they even be respected when they manage to pull off a big robbery? Cheating on girlfriends and wives is evil. Unfortunately, men sometimes boast about it because it is not despised and even respected. I think you guys know what I mean.

Under such circumstances, I will still be worried even if the China bosses are honest by nature because such a system drives even good men to behave badly. Every man has a price. Most, if not all, of us will be honest when entrusted with one hundred dollars. The number of honest men drops when the amount rises to $1m. In the equity market, we are talking about tens or even hundreds of million. Combined that with the high probability to go scot-free and the lack of shame, can you trust S-chips with your money?

No margin of safety is adequate when you deal with dishonest men (not referring to any particular group, including S-chip bosses). What is worse is when you deal with people who cannot be trusted even when they are relatively honest because the system rewards them to be dishonest. You can extend this to the large segments of the financial services industry that is fraught with conflicts of interest. Hence, when it comes to money, trust yourself only with your own money.

I have a different take.

I think it's highly possible we're attracting crooks rather than honest Chinese nationals who turns into crooks because of the temptations (plus the high chance of getting away with their crime) when they list here...

Perhaps I come from a different generation. Whether it's $100 or $1Mil or even $1Bil (if it's even possible), I don't feel any urge to take what's not mine.... or even take short-cuts that's not legally, ethically, morally right. I think it's more fun to earn it thro' the hard way, by myself...