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Cityfarmer, I have deleted my previous post, could you delete your quote of my previous post as well and any other post that you find may be accusative.
To clarify
1) about the cash - there is no breakdown of cash in hand by region from the last quarterly thus if majority of the cash holding was in a Chinese bank(half its business is China based after all), I would take it with a grain of salt as happened with previously halted S-Chip stocks that had cash and were subsequently found that they did not have the cash as stated on the books.
2) court proceedings read from this http://business.asiaone.com/news/details...der-v-osim
[It said in a separate statement on Monday that "the other shareholders and directors of TWG Tea have conspired to injure the interests of The Wellness Group by diluting its shareholdings in TWG Tea and enabling Osim to take control over TWG Tea".
The Wellness Group claims Osim and its directors had assured it that Osim "had no interest in taking a majority stake in TWG Tea and the expansion of TWG Tea would be financed by debt".
Mr Murjani also alleges that Osim, Mr Sim and Mr Bouqdib conspired to remove him as TWG Tea chief executive, even as a shareholders' agreement implied that he would stay in the position for five years from March 24, 2011.]
started in feb and I am not aware of outcome, forummers who are aware please enlighten.
3) "Pyramid scheme" should have put in inverted commas as was meant like a "scheme of some sort" (i was actually thinking "ponzi scheme" but type wrongly). basically just a speculation/suspicion as it looks like company has been doing well by reading its quarterly reports, but still needing to use financial instruments like convertible bonds rather than just simple secured/unsecured bank loans to inject cash (bank loans would undergo more scrutiny of its books I presume). Note from latest quarterly page 17, there is mention of previous convertible bonds [10,770 (30 June 2013: Nil) treasury shares were reissued for the purpose of convertible bonds conversion during the period.]
Looks like there was a previous convertible bond issue as well which is not in line with a profitable / cash rich / cash generating company.
4)Even SGX has had recent queries of which this one I like
[SGX-ST’s Query:
1. Other Income for the period ended 30 June 2014 increased to $5,127,000 from $3,096,000 for the period ended 30 June 2013. Please explain the reason(s) for the increase.
Company’s response:
The increase is due mainly to unrealised gain from money market investment and quoted share investment compared with unrealised loss in Q2 last year. ]
Pretty good performance considering OSIm is not in the business of fund management/securities investment like Berkshire Hathaway.
5) ???Opening new stores in Turkey / Russia -
Turkey shares southern border with Syria which we all know has lots of conflict. Also politically Turkey has some key risk, read more here But Turkey is a small country, we would expect Russia to be the main expansion country. However, Russia is currently not in the good graces of Europe and America with trade sanctions due to Ukraine conflict.
Does it make sense to go for high risk business environments other than the fact that in such environment there is possibility of less financial transparency?? especially when one is not buying cheap undervalued assets but rather setting up consumer sales based business. Does not make business sense and in addition once money is invested it will be almost impossible to do any sort of meaningful auditing especially in Putin controlled Russia.
Hope my statements and speculation here are sufficiently justified.
To clarify
1) about the cash - there is no breakdown of cash in hand by region from the last quarterly thus if majority of the cash holding was in a Chinese bank(half its business is China based after all), I would take it with a grain of salt as happened with previously halted S-Chip stocks that had cash and were subsequently found that they did not have the cash as stated on the books.
2) court proceedings read from this http://business.asiaone.com/news/details...der-v-osim
[It said in a separate statement on Monday that "the other shareholders and directors of TWG Tea have conspired to injure the interests of The Wellness Group by diluting its shareholdings in TWG Tea and enabling Osim to take control over TWG Tea".
The Wellness Group claims Osim and its directors had assured it that Osim "had no interest in taking a majority stake in TWG Tea and the expansion of TWG Tea would be financed by debt".
Mr Murjani also alleges that Osim, Mr Sim and Mr Bouqdib conspired to remove him as TWG Tea chief executive, even as a shareholders' agreement implied that he would stay in the position for five years from March 24, 2011.]
started in feb and I am not aware of outcome, forummers who are aware please enlighten.
3) "Pyramid scheme" should have put in inverted commas as was meant like a "scheme of some sort" (i was actually thinking "ponzi scheme" but type wrongly). basically just a speculation/suspicion as it looks like company has been doing well by reading its quarterly reports, but still needing to use financial instruments like convertible bonds rather than just simple secured/unsecured bank loans to inject cash (bank loans would undergo more scrutiny of its books I presume). Note from latest quarterly page 17, there is mention of previous convertible bonds [10,770 (30 June 2013: Nil) treasury shares were reissued for the purpose of convertible bonds conversion during the period.]
Looks like there was a previous convertible bond issue as well which is not in line with a profitable / cash rich / cash generating company.
4)Even SGX has had recent queries of which this one I like
[SGX-ST’s Query:
1. Other Income for the period ended 30 June 2014 increased to $5,127,000 from $3,096,000 for the period ended 30 June 2013. Please explain the reason(s) for the increase.
Company’s response:
The increase is due mainly to unrealised gain from money market investment and quoted share investment compared with unrealised loss in Q2 last year. ]
Pretty good performance considering OSIm is not in the business of fund management/securities investment like Berkshire Hathaway.
5) ???Opening new stores in Turkey / Russia -
Turkey shares southern border with Syria which we all know has lots of conflict. Also politically Turkey has some key risk, read more here But Turkey is a small country, we would expect Russia to be the main expansion country. However, Russia is currently not in the good graces of Europe and America with trade sanctions due to Ukraine conflict.
Does it make sense to go for high risk business environments other than the fact that in such environment there is possibility of less financial transparency?? especially when one is not buying cheap undervalued assets but rather setting up consumer sales based business. Does not make business sense and in addition once money is invested it will be almost impossible to do any sort of meaningful auditing especially in Putin controlled Russia.
Hope my statements and speculation here are sufficiently justified.
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
http://thebluefund.blogspot.com
Even I am confused now.
