OSIM International

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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.
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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[Stock Loan of 20,000,000 shares to The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (Private Banking Division) ("HSBC PB") in support of proposed issuance of convertible corporate bonds by OSIM International Ltd on 26th August 2014.
The transfer of shares from RS Assets Limited to HSBC PB is from deemed interest to deemed interest.]
Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::NOTIFICATION FOR DIRECTOR/CEO IN RESPECT OF INTERESTS IN SECURITIES 27 Aug 2014 07:04:22 PM

Boss doing some share transfer.


CFO once again big move, moved all his shares to his spouse, what is he trying to tell us?

Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::NOTIFICATION FOR DIRECTOR IN RESPECT OF INTERESTS IN SECURITIES 27 Aug 2014 07:06:37 PM

Go figureHuh Even I am confused now.
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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The key reason for the moderation, is to be fair to the company, especially with the increasing influence of VB Big Grin

Reasonable doubts are allowed, rather than direct accusations unless with reasonable grounds. The followings are reasonable doubts.

A thank you for taking effort to re-phase your opinions/views and to provide clarifications, from moderator with respect.

Regards
Moderator

P/S: In fact, I share most of your doubts on the company personally.

(not vested)

(27-08-2014, 07:03 PM)BlueKelah Wrote: 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.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Count me in as another doubter of the conundrum that is Osim
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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(27-08-2014, 07:03 PM)BlueKelah Wrote: 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.

......................

I read from annual report 2013,
OSIM has fixed deposit 149M, and cash and bank balances 117M,
among it, 17M in US dollar, 9.8M in RMB,
Does it mean most of cash and equivalents is in SG dollars or stay in Singapore?

Is my undertanding correct?
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(15-09-2014, 05:59 PM)GSG Wrote:
(27-08-2014, 07:03 PM)BlueKelah Wrote: 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.

......................

I read from annual report 2013,
OSIM has fixed deposit 149M, and cash and bank balances 117M,
among it, 17M in US dollar, 9.8M in RMB,
Does it mean most of cash and equivalents is in SG dollars or stay in Singapore?

Is my undertanding correct?

I glanced at the report. The understand should be correct, the list was for foreign currencies, other than the reporting currency S$.

(not vested)
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
http://www.businesstimes.com.sg/companie...gs-worries

OSIM stock dives; analyst points to possible earnings worries
Shares fall 9.8% over two days, prompting SGX query and a subsequent 'trade with caution' advice

By
Cai Haoxianghaoxiang@sph.com.sg@HaoxiangCaiBT
9 Oct5:50 AM
Singapore

THE stock of lifestyle products group OSIM International, a long-time market darling, traded sharply lower on Wednesday for a second day in a row on heavy volume.

It closed at S$2.33, down 10 cents or 4.1 per cent, on 8.4 million shares traded. The 30-day average volume
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Some interesting news coming?? Maybe cancel expansion in hotzones Turkey and Russia??

maybe TWG management is suing to separate from OSIM??

Ah OSIM crash lai liao...

via Xperia Z1 with Android 4.4.4 tapatalk.
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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time to be greedy when the crowd gets fearful and panic
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Point 1: Could it be accrual expenses like "Inventories recognised as an expense, being cost of sales"

When OSIM sell these inventories after AR, it is recognize as 100% profit.



Not vested.


(02-07-2014, 04:35 PM)rickytj Wrote: a bit cautious due to this:
1) what's inside the "other operating expenses"? why company didn't break them down? they are such a huge number
2) why didn't the company break down sales? as in how much come from massage chairs, TWG, and supplement business?
3) 2 lawsuits regarding TWG, one about its name and the other about share dilution of its founders
4) Brookstone saga, it seems to me management is trying to cover it up/ avoid discussing this openly? the bankruptcy itself shows management hasnt done enough due diligence prior to acquiring the business
5) Expensive valuation. Perhaps current expectation from the market is very high seeing how well the profits have grown. Any small mistake from Ron Sim can be very costly to investors.

just my 2 cents. not vested.
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