S-chips make a comeback in Singapore

[Nick]

It will be very profitable but you also can lose lot of money if you are late in the game so do remember the 10% cut loss rule

Amen to that.

1)Foreland (in at 13c, divested at 6.5c)
2)China Fibretech (in at 8c, partial divestment at 9.5c)
3)Eratat Lifestyle (in at 14.5c, partial divestment at 25.5c)
4)Timewatch (is this an S-Chip?)

Most of TimeWatch business is from Greater China , of which 25% FY10 is from watch retailing in Hong Kong (they actually open the retail store to sell watches to Chinese Tourist in Hong Kong who want to have the prestige of buying watches oversea). The reporting currency is in $HK

Since the brand, market and the founders are from China so it make senses to have them categorized as S-Chip but if you compare to other such as Eratat and Foreland, actually, Timewatch does not seems S-Chip after all.

Btw, There is a trading halt on Timewatch, just about when i want to buy some shares... let see what will come out

Time Watch Delisting @ $0.27

http://info.sgx.com/webcoranncatth.nsf/V...D005034AC/$file/JointAnnouncement19.1.11.pdf?openelement

[iisterry]

I seemed to recall that they were mulling a dual-listing some time ago as they said local market did not understand/appreciate their business

Seems like they decided it would be better to privatize and re-list elsewhere. Maybe another Man Wah?

[corydorus]

Maybe they are more interested in off-loading shares than managing the company.

[SLC81]

It will be very profitable but you also can lose lot of money if you are late in the game so do remember the 10% cut loss rule

Amen to that.

1)Foreland (in at 13c, divested at 6.5c)
2)China Fibretech (in at 8c, partial divestment at 9.5c)
3)Eratat Lifestyle (in at 14.5c, partial divestment at 25.5c)
4)Timewatch (is this an S-Chip?)

Most of TimeWatch business is from Greater China , of which 25% FY10 is from watch retailing in Hong Kong (they actually open the retail store to sell watches to Chinese Tourist in Hong Kong who want to have the prestige of buying watches oversea). The reporting currency is in $HK

Since the brand, market and the founders are from China so it make senses to have them categorized as S-Chip but if you compare to other such as Eratat and Foreland, actually, Timewatch does not seems S-Chip after all.

Btw, There is a trading halt on Timewatch, just about when i want to buy some shares... let see what will come out

Time Watch Delisting @ $0.27

http://info.sgx.com/webcoranncatth.nsf/V...D005034AC/$file/JointAnnouncement19.1.11.pdf?openelement

Now it is in turn for Eratat to declare Trading Halt.

[iisterry]

Did anyone notice this peculiar occurrence?

A number of them are using the same Assistant Secretary. It would appear that the common linkage is that they are all incorporated in Bermuda.

Dukang Distillers
Fuxing
Fibrechem Technologies
Li Heng Chem Fibre
Qian Feng
Z-obee

This list is not comprehensive, some counters probably escaped observance.

1. The resignation of Richard J. Evans as the resident Assistant Secretary of the Company in Bermuda with effect from 20 January 2011; and

2. The appointment of Codan Services Limited as the resident Assistant Secretary of the Company in place of Richard J. Evans with effect from 20 January 2011.

[SLC81]

Did anyone notice this peculiar occurrence?

A number of them are using the same Assistant Secretary. It would appear that the common linkage is that they are all incorporated in Bermuda.

Dukang Distillers
Fuxing
Fibrechem Technologies
Li Heng Chem Fibre
Qian Feng
Z-obee

This list is not comprehensive, some counters probably escaped observance.

1. The resignation of Richard J. Evans as the resident Assistant Secretary of the Company in Bermuda with effect from 20 January 2011; and

2. The appointment of Codan Services Limited as the resident Assistant Secretary of the Company in place of Richard J. Evans with effect from 20 January 2011.

It is normal.
Same thing you will see when BroadRoom Limited (who provides corporate share registration services) changes the Business Address, There will be about few dozen of similar announcements

[iisterry]

Eratat. Placement of around 15% (with option to subscribe to 5% additional within 2 years @ $0.30) at a discount of approx 9.99% to weighted average.

Around $0.21XX.

Queued for more at $0.215. Didn't manage to get.

A search for CMIA filings:

China Minzhong Food Corp Ltd ASB CMIA China Growth I L.P.
E92 C & O Pharm Tech (Hldgs) Ltd CMIA Capital Partners (Cayman) Limited
M32 Midsouth Holdings Ltd CMIA Capital Partners (Cayman) Limited ("CMIA Capital Partners")
E92 C & O Pharm Tech (Hldgs) Ltd CMIA Capital Partners Pte Ltd
Ying Li Intl Real Estate Ltd CMIA Capital Partners Pte Ltd ("CMIA")
China Minzhong Food Corp Ltd CMIA Capital Partners Pte. Ltd.
China Minzhong Food Corp Ltd CMIA China Fund II Limited
Ying Li Intl Real Estate Ltd CMIA China Fund III L.P
M32 Midsouth Holdings Ltd CMIA China Fund III L.P.
M32 Midsouth Holdings Ltd CMIA China Fund III L.P. ("CMIA China Fund")
M32 Midsouth Holdings Ltd CMIA China Fund III Limited
Ying Li Intl Real Estate Ltd Zana China Fund L.P. (formerly known as CMIA China Fund III L.P.)

[Musicwhiz]

I've been noticing a lot of placements being done lately, as well as a few rights issues too. These companies cannot generate enough FCF to use for expanding operations and have to raise it through capital markets?

[valuestalker]

a quick read on CMIA Capital:

One of the companies that a CMIA fund invested in, steelmaker Ferrochina, collapsed in 2008.

That led to legal action by a CMIA fund, China Fund II, which is suing its fund manager CMIA as well as Mr Lee. It claimed unspecified damages caused by the collapse of Ferrochina.

The suit has yet to be resolved, but investor concern over the legal action has dissipated, according to Mr Lee.

http://www.cmia.com/newsroom/Former-IPO-...-firm.html

and from their website:

We believe in business partnership with good and trustworthy management teams and desire to work actively with portfolio companies to grow the business, both organically and through M&A initiatives.

Note: vested

[ichiran]

Based on the financial statements, Eratat is undervalued and share price has significant potential upside.

What I do not understand is why the management has to issue large amount of new shares at almost 10% discount to market price.

Perhaps this is why the market sees this negatively and is sending clear signals to express that view!