Pacific Andes

[VestedInterest]

Anybody going for this company's right shares? Just found out that you cannot pay for it via DBS ATM's. Can only do so via OCBC and UOB. Very inconvenient to have to make bank draft or cashier's order if you have no ATM access via the latter two banks. Moreover, deadline is 11 Apr 2012. Not much time left. Anyone knows why they're not using DBS' network? Do they save money?

[Nick]

Global Investments Limited also do not use DBS ATM for Electronic Payment. I guess DBS charges more ?

Why not open an account with either OCBC or UOB and subscribe for the rights ?

[VestedInterest]

Global Investments Limited also do not use DBS ATM for Electronic Payment. I guess DBS charges more ?

Why not open an account with either OCBC or UOB and subscribe for the rights ?

Reason why I posted is that some people might not be aware until the last minute when opening a new account may be too late. I suspect that there is going to be a lot of excess shares because many will be caught out at the last minute.

[sgd]

With grain harvest devastated everywhere animal feed prices are going up. All the poultry farmers from china to brazil are anticipating this and butchering/thinning their herds ahead, for a while I think the world will be flooded with pork chops and beef steaks enjoy it while it lasts because after that I think prices are going to go sky high when that happens everybody will be looking at alternatives like fish.

what do you think? anybody own this or comment on this? I thinking of buying some.

[dzwm87]

Just a quick glance - low ROE & ROIC business at around 7%

Free cash flow is also negative on every of its past 3 years while net op CF had been negative 2 of the 3 years. It does show that its earning quality is not very fantastic.

Dividend yield at 7% - seem good at face value but it isn't consistent. So will it be sustainable?

Seem like you are doing a top-down approach on a play that may take 5 to 10 years to realize.

[sgd]

Just a quick glance - low ROE & ROIC business at around 7%

Free cash flow is also negative on every of its past 3 years while net op CF had been negative 2 of the 3 years. It does show that its earning quality is not very fantastic.

Dividend yield at 7% - seem good at face value but it isn't consistent. So will it be sustainable?

Seem like you are doing a top-down approach on a play that may take 5 to 10 years to realize.

maybe not what I usually like to look for in a stock. Market trading at 14.7cts NAV is HK$2 which is around 50c sing thats 70% discount is real cheap.

seriously anybody else any comments

[dzwm87]

30% of total equity ex MI is in goodwill - in other words, 30% of book is just made up of air..

[yeokiwi]

From annual report 2011.

Goodwill HK$2,903,375,000
Total no. of shares 3,193,994,892

Goodwill /share = HK 91cts

[drengassi]

Take a look at the size of the accounts receivable relative to its revenue. Certainly not a good cash generating business. It seems to be financing its suppliers!

[greengiraffe]

Salted Fish...

http://www.straitstimes.com/news/busines...l-deals-20

Pacific Andes suffers 61% drop in first half earnings on non-renewal of deals
PUBLISHED ON MAY 26, 2014 9:57 PM



BY DENNIS CHAN
SINGAPORE - Frozen seafood supplier Pacific Andes International Holdings said its first half net profit fell by 61.4 per cent to HK$85.7 million (S$13.8 million), mainly due to an increase in finance costs and the termination of long term supply agreements.

Its fishery and fish supply division chalked up a 20.1 per cent increase in revenue to HK$2.54 billion in the first six months, driven by a 540 per cent surge in revenue from the enlarged Peruvian fishmeal operations.

This was partially offset by a 53 per cent decrease in revenue from the contract supply business due mainly to lower sales volume following the termination and non-renewal of the long term supply agreements.

Although the group participated in the spot market following the termination of the agreements, it did not trade on occasions when the spot prices of certain products were unfavourable.