Yangzijiang Shipbuilding (Holdings)

(02-06-2014, 09:15 AM)CityFarmer Wrote: I would dispute the observation, but I am curious on the average age of CFO for non-S-Chip listed companies?

Ms Liu Hua started as Deputy CFO in 2008, when she was 33. She re-appointed as CFO recently (I don't recall the actual year). She is 39 years old this year. She look very young, but might not as young as thought.

Borrowing a tagline, her "skin age" is much younger than her age.

Did a quick sampling study of the average age of non S-chip listed companies. The sample companies were drawn out of VB-33 in a random manner (taking into account they should be med cap and non-gov majority owned)

Company/Title/Name/Year of Appointment/Age at year of appointment:
Boustead/CFO/Loh Kai Keong/1999/45
Kingsmen Creative/FC/Chu Li Low/2010/37
PanUnited/Director of Finance /Bee Lian Seow/2004/36
Hour Glass/CFO/Siak Yong Ng/2008/38
St******/CFO/Chua Siew Hwi/2013/36
UMS/FC/Stanley Loh/2008/40

Average age = 38.7 years old.
Median age = 37.5 years old.
Std deviation = 3.4 years

Miss Liu Hua is a wunderkid, i would say and She is underpaid and under utilized (entertaining analysts and investors in Spore)

If u look at the recent moves by YZJ, I seriously do not think the CFO has any say in Ren investment strategies. Although I dun think he deliberate look for a yEs man. Look, if Wang Dong can be assigned around, what to say about the CfO, who is just taking a pay?

http://sinoshipnews.com/News/Yangzijiang...c2701.html

Nothing new, just thought that the last line seem to be imply that trading was suspended due to the allegations. ( or maybe my poor command of English makes me think too much, like I catch no balls, CF link to allegation :p
Until he say so explicitly)

I remember reading from the annnouncement, that the suspension is due to not being able to release the full year results.

(02-06-2014, 10:28 PM)weijian Wrote:

(02-06-2014, 09:15 AM)CityFarmer Wrote: I wouldn't dispute the observation, but I am curious on the average age of CFO for non-S-Chip listed companies?

Ms Liu Hua started as Deputy CFO in 2008, when she was 33. She re-appointed as CFO recently (I don't recall the actual year). She is 39 years old this year. She look very young, but might not as young as thought.

Borrowing a tagline, her "skin age" is much younger than her age.

Did a quick sampling study of the average age of non S-chip listed companies. The sample companies were drawn out of VB-33 in a random manner (taking into account they should be med cap and non-gov majority owned)

Company/Title/Name/Year of Appointment/Age at year of appointment:
Boustead/CFO/Loh Kai Keong/1999/45
Kingsmen Creative/FC/Chu Li Low/2010/37
PanUnited/Director of Finance /Bee Lian Seow/2004/36
Hour Glass/CFO/Siak Yong Ng/2008/38
St******/CFO/Chua Siew Hwi/2013/36
UMS/FC/Stanley Loh/2008/40

Average age = 38.7 years old.
Median age = 37.5 years old.
Std deviation = 3.4 years

Miss Liu Hua is a wunderkid, i would say and She is underpaid and under utilized (entertaining analysts and investors in Spore)

I make a mistake on my previous post. It should be "I wouldn't" rather than "I would".

Thanks for the update. She is not only on IR, but also responsible for the trading office in Singapore, which churn out few tenth of million RMB revenue last year, and is growing fast.

I am watching the trading business. It can make a big dent on big company, if not done right

Quote:在任元林的运筹帷幄下，新加坡上市公司扬子江船业集团（Yangzijiang Shipbuilding Group）在五年间频频创下多个“第一”。

最近，这位身家不下10亿新元的中国民营船王，更把去年分得的5500万新元的巨额股息，及日后的股息全数充作慈善基金。

中国改革开放的大趋势，确实为许许多多胆大心细的创业者提供了百年难遇的商机。

1997年，当了12年造船厂副手的任元林终于“扶正”升为厂长，不料却在第二年遇上亚洲金融风暴，一时之间造船厂几乎接不到任何订单。当工厂处在生死存亡关头，任元林进行了大刀阔斧的改革，向政府申请把造船厂改为私营化，说服管理层和1000多名员工入股，自己则把所有花红、薪水都投下去了，拿出40多万元人民币，凑足2200万元资本，从政府手中回购30％股份，再邀请外部投资者入股8000万元，2004年成立了中国第一家民营造船控股公司，前后不到六七年。任元林脑筋灵活、手脚之快由此可见一斑。

http://www.v-freight.com/newsinfo.asp?ID=2152

Two famous quotes from Warren Buffett could be apply to YZJ at the present situation:

"The best time to buy a company is when it’s in trouble"
"Buy businesses that can be run by idiots"

Your money your call

[ not vested ]

If you think a shipbuilding business can be run by idiots, just look at Rongsheng Heavy Industry. How is it run by an intelligent man?

Well I mean YZJ's business cannot be run by idiots, look at how Ren turn around YZJ, look at how other shipyards failed but YZJ survived, look at how he played with the HTM loans, I wouldn't call him an idiots but a wise and respected man. Unless one can be sure that the wise and respected man will not be prosecuted, otherwise it don't seems wise to invest in YZJ now IMO.

[ not vested but watching ]

(03-06-2014, 10:49 AM)valuebuddies Wrote: Well I mean YZJ's business cannot be run by idiots, look at how Ren turn around YZJ, look at how other shipyards failed but YZJ survived, look at how he played with the HTM loans, I wouldn't call him an idiots but a wise and respected man. Unless one can be sure that the wise and respected man will not be prosecuted, otherwise it don't seems wise to invest in YZJ now IMO.

[ not vested but watching ]

I recalled the last blip of share price was due to rumour on Mr. Ren retirement.

Base on his reply in the recent AGM, the messages I got were
- the succession was installed, and Mr. Ren started to do pre-announcement for market response. He talked about it during an interview.
- During the AGM, he did mention briefly on the post-Ren structure. No detail given, but I will speculate that each segments already have their respective successor, and maturing, but not ready for official announcement.
- I will like to speculate further that, each segment might be eventually spun-off with its own CEO, taking Keppel as model.

Well, enough for speculation.

In fact, the point I am making is, the impact on YZJ without Mr. Ren, is not as scaring as one thought, IMO

(vested)

I don't think Warren Buffett means that business can't be run by idiots are business not worth investing. Most of Warren Buffett's invested business can't be run by idiots. e.g. Coca Cola. If you look at the history of Coca Cola, there was time that it was very badly run(check New Coke). So are many of its insurance business.

(03-06-2014, 11:05 AM)CityFarmer Wrote: I recalled the last blip of share price was due to rumour on Mr. Ren retirement.

Base on his reply in the recent AGM, the messages I got were
- the succession was installed, and Mr. Ren started to do pre-announcement for market response. He talked about it during an interview.
- During the AGM, he did mention briefly on the post-Ren structure. No detail given, but I will speculate that each segments already have their respective successor, and maturing, but not ready for official announcement.
- I will like to speculate further that, each segment might be eventually spun-off with its own CEO, taking Keppel as model.

Well, enough for speculation.

In fact, the point I am making is, the impact on YZJ without Mr. Ren, is not as scaring as one thought, IMO

(vested)

Whether it is scary or not in real contexts, only time will tell. But when the time come, there will be more fearful people on the market than the greedy people, and that would be the best opportunity for the greedy people to buy more if the greedy people do believe that the man who take over will run as what Ren did.

(03-06-2014, 11:06 AM)freedom Wrote: I don't think Warren Buffett means that business can't be run by idiots are business not worth investing. Most of Warren Buffett's invested business can't be run by idiots. e.g. Coca Cola. If you look at the history of Coca Cola, there was time that it was very badly run(check New Coke). So are many of its insurance business.

I think he means for idiot investor like myself, it is better to invest in business that can by run by idiots