Sino Grandness

[chan99]

Hi CY09 and Boon,

Okay, page 9 of the 3Q results announcement says "Non-cash interest costs relating to convertible bonds decreased from RMB67.4m in 9M2014 to and assumed an income position of RMB24.8m in 9M2015"

Wah how does non-interest cost assume an income position ? That means Garden Fresh borrow money still can earn money on interest ?

So according to your method, this is part of their on-going operation la, making money out of borrowing money.

Since you say your method is right, can your method of calculation explain this phenomenon ? and what is the logic behind it ?

Hi crubs,
 
Please refer to page 118 and 119 of AR2014
 
Can you explain why there was a need for an adjustment in FY2013.
 
Interest expense was adjusted from 19.102 m to 88.818m.
 
Changes in fair value of option derivatives in relation to convertible bonds had been adjusted from zero to 43.638 m.
 
This is relevant to your question, I believe.
___________________________________________________________________________________________________________________________________

Hi Mr Boon
Please do not ask unnecessary questions. The note in pg 118 already explains why adjustment was made.
The question now is why there was a 'positive' interest income of RMB 187m in 3Q 15.   
You have not answered Crubs question on making money out of borrowing money.

Ha-ha! 

If SG has the so called skill in "making money out of borrowing money", why don't they apply it in FY2013 ? Do you know what difference would it make?

Wondering why this skill emerged only after the expiry of both CB1 and CB2. 
__________________________________________________________________________________________________________________________________

Based on the result briefing on Friday, we would be having update from Sino Grandness on their convertible bond issue soon.

Hi  Lich

I dont know why the concern on convertible bond redemption. Worst comes to worst, Cb takes maximum stake of 23.4%.

cheers
Oldman9