Yangzijiang Shipbuilding (Holdings)

Correct me if I am wrong.

These statements say nothing about Yangzijiang's risk is only counter-party against the financial institutions. It merely states that Yangzijiang invests through the financial institutions and the financial institutions facilitates the investment and holds the underlying collateral.

(30-09-2013, 02:29 PM)CityFarmer Wrote: In other words, the HTM's risk exposure is only the counter-parties risk. Please refer to Note 37 (b) (v) of AR 2012.

Excerpt:
The Group’s held-to-maturity financial assets pertains to fixed interest investments through intermediary financial institutions for specific borrowings arranged by these intermediaries.

Collaterals provided by the ultimate borrowers are held by the intermediaries as guarantee for the repayment of principal and interests.

I think it means the intermediaries are the escrow or trust for these collaterals. If YZJ had to charge NPL reserves to their balance sheet, which I think they do IIRC, then they are bearing the credit risk.

(30-09-2013, 03:20 PM)specuvestor Wrote:

(30-09-2013, 02:29 PM)CityFarmer Wrote: In other words, the HTM's risk exposure is only the counter-parties risk. Please refer to Note 37 (b) (v) of AR 2012.

Excerpt:
The Group’s held-to-maturity financial assets pertains to fixed interest investments through intermediary financial institutions for specific borrowings arranged by these intermediaries.

Collaterals provided by the ultimate borrowers are held by the intermediaries as guarantee for the repayment of principal and interests.

I think it means the intermediaries are the escrow or trust for these collaterals. If YZJ had to charge NPL reserves to their balance sheet, which I think they do IIRC, then they are bearing the credit risk.

There was NPL (impairment) allocated in AR2012, with policy stated in Note 3 (b) (iii) of of the same AR

Note 3 (b) (iii)
The Group follows the guidance of FRS 39 in determining when the held-to-maturity financial assets are considered impaired. Significant financial difficulties of the counterparty, probability that
the counterparty will enter bankruptcy, and default or significant delay in payment are objective evidence that these held-to-maturity financial assets is impaired. Allowance for impairment was
provided based on management’s assessment of the credit history of its counter parties, and that of the market conditions. Refer to Note 37(b)(v) on the credit risk information in relation to
these financial assets.

http://infopub.sgx.com/FileOpen/Form1_YZ...eID=258043

Yu Kebing, sold out its entire stake this time. It has been reducing its stakes since 2009, from a substantial owner to nil

His record is kinda of weird.

2008 OCT (Price then: 32-40cents)
From 16.25% to 3.32% Due to the Disposal of 24.04% interest in the share capital of Lido Point Investments Ltd. ("Lido Point"), which holds 510,466,000 shares representing approximately 16.25% of the total number of issued shares (excluding treasury shares) in the Company (the "Shares").


11 Aug 2009 (2.3424% - 2.26%)
Open market sales (Price then $0.965- $0.985)

2 Dec 2009 (2.26% -2.04%)
Open market sales (Price then $1.23)

03/09/2010(1.99%-1.58% thereafter 1.46% due to dilution of dual-listing)
Sale of 20,000,000 shares pursuant to the Companys Taiwan Depository Receipt Issue (price $1.55)

16/08/2011
Open market purchase (300 lots at 1.115)


He seems to be selling out all this while... WHy??? Does not seem to be particular about the price of selling though...

I never like director's sell-off, but think I will only lose sleep with Ren Yuan Lin, Wang Dong or XIang Jian Jun start selling...

(30-09-2013, 10:28 PM)Greenrookie Wrote: I never like director's sell-off, but think I will only lose sleep with Ren Yuan Lin, Wang Dong or XIang Jian Jun start selling...

I also never like. It is a concern, but shouldn't be overly concerned.

The background of Yu Kebing, from AR. He is an experience investor on shipping industrial. May be the only reason was he had a better use of his money elsewhere....

--------
YU KEBING | (Aged 49, PRC) | Non-Independent Non-Executive Director

Mr Yu was appointed as a Director of the Company on 20 March 2009 and last re-elected on 28 April 2011.

Mr Yu is an experienced investor in shipping and marine industry in last 20 years. He founded Shanghai Tongbao Shipping Co in 1992, the company focused on ocean towing, project cargo transportation, marine engineering solution, ship agency, forwarding and ship building broker etc. The business of company covered Far-East Asia, East-South Asia, Mid-East Asia, Europe etc. Prior to starting Shanghai Tongbao Shipping Co Ltd, Mr Yu was the Deputy General Manager of Shanghai Eastern Marine Technical Services Co. In 2003, Mr Yu founded Tongbao (Singapore) Shipping Pte Ltd (TBSS) in Singapore for the purpose of invest shipbuilding, ship managing, port agency etc.

Mr Yu was awarded the degree of Executive Master of Business Administration (EMBA) from the Cheung Kong Graduate School of Business in October 2007. He obtained the degree as Bachelor of Marine Engineering Management, conferred by Shanghai Maritime University in 1986.
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(01-10-2013, 09:57 AM)CityFarmer Wrote:

(30-09-2013, 10:28 PM)Greenrookie Wrote: I never like director's sell-off, but think I will only lose sleep with Ren Yuan Lin, Wang Dong or XIang Jian Jun start selling...

I also never like. It is a concern, but shouldn't be overly concerned.

The background of Yu Kebing, from AR. He is an experience investor on shipping industrial. May be the only reason was he had a better use of his money elsewhere....

--------
YU KEBING | (Aged 49, PRC) | Non-Independent Non-Executive Director

Mr Yu was appointed as a Director of the Company on 20 March 2009 and last re-elected on 28 April 2011.

Mr Yu is an experienced investor in shipping and marine industry in last 20 years. He founded Shanghai Tongbao Shipping Co in 1992, the company focused on ocean towing, project cargo transportation, marine engineering solution, ship agency, forwarding and ship building broker etc. The business of company covered Far-East Asia, East-South Asia, Mid-East Asia, Europe etc. Prior to starting Shanghai Tongbao Shipping Co Ltd, Mr Yu was the Deputy General Manager of Shanghai Eastern Marine Technical Services Co. In 2003, Mr Yu founded Tongbao (Singapore) Shipping Pte Ltd (TBSS) in Singapore for the purpose of invest shipbuilding, ship managing, port agency etc.

Mr Yu was awarded the degree of Executive Master of Business Administration (EMBA) from the Cheung Kong Graduate School of Business in October 2007. He obtained the degree as Bachelor of Marine Engineering Management, conferred by Shanghai Maritime University in 1986.
---

Also, it seems that when he sell Lido Point investment, his interest is never aligned with the 3 founders...

2008 OCT (Price then: 32-40cents)
From 16.25% to 3.32% Due to the Disposal of 24.04% interest in the share capital of Lido Point Investments Ltd. ("Lido Point"), which holds 510,466,000 shares representing approximately 16.25% of the total number of issued shares (excluding treasury shares) in the Company (the "Shares").

This guy Ke yubing sold all his shares in yangzijiang is a very positive news, like the dark clouds lifted and swept aside, investors no longer worry about any potential market sell off from him. Furthermore, i heard that he is in financial trouble with his own business in the shipping sector, and need the money very urgently.

The new investor who bought all his shares at $1.12 are mostly long term shareholders. Very positive for yangzijiang. Being an industry leader, yangzijiang shares are now way too cheap, considering the huge market potential in China alone.

Ren Yuan Lin = Warren Buffett

New orders win!!

http://infopub.sgx.com/FileOpen/Announce...eID=258158

Important to note that orders are higher valued.

They are building capsizes now, when previously is mostly panamax. Also If I didn't track wrongly, this is their first VLCC orders...

And more 10000 TEUS confirmed .. Yeah!

(01-10-2013, 01:17 PM)HoHo Wrote: Ren Yuan Lin = Warren Buffett

If the statement is refer to the investment segment of YZJ, than it is definitely an over-statement, even I am confidence Mr. Ren is a wise and prudent businessman.

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(01-10-2013, 06:12 PM)Greenrookie Wrote: New orders win!!

http://infopub.sgx.com/FileOpen/Announce...eID=258158

Important to note that orders are higher valued.

They are building capsizes now, when previously is mostly panamax. Also If I didn't track wrongly, this is their first VLCC orders...

And more 10000 TEUS confirmed .. Yeah!

More orders are expected and done deal, IMO. I am more looking forward for the success of Offshore Jack up Drilling Rig, around mid 2015.

(01-10-2013, 01:17 PM)HoHo Wrote: This guy Ke yubing sold all his shares in yangzijiang is a very positive news, like the dark clouds lifted and swept aside, investors no longer worry about any potential market sell off from him. Furthermore, i heard that he is in financial trouble with his own business in the shipping sector, and need the money very urgently.

The new investor who bought all his shares at $1.12 are mostly long term shareholders. Very positive for yangzijiang. Being an industry leader, yangzijiang shares are now way too cheap, considering the huge market potential in China alone.

Ren Yuan Lin = Warren Buffett

hahaha. I can't resist laughing at this koyok sales pitch. I reckon that u are in close terms with the new investor/s who bought Mr Ke's shares, to know that he/she is a long term shareholder/s.. Btw, do continue to keep mopping up YZJ shared since it is 'way too cheap' in your opinion.