Sino Grandness

[Curiousparty]

Sorry, my bad. It should be Morgan Stanley, which is also internationally as renowned as GS.

http://www.valuebuddies.com/thread-830.html

Pls refer to an old thread on China Essence.

The bondholders allowed very favorable terms to China Essence for the extension of its CB. Skeptics could construe it as a case where the hands of the bondholders were tied. It was a quite a huge haircut of the principal plus the conversion price was only slightly discounted.

(Portuser said the following)
"Holders have extended the 5-year convertible bonds issued by China Essence in Dec 2006 for another three years. Before the release of this news, many thought that the company would have to cough out some RMB 260m, jeopardising its operations. The favourable terms of the new 3-year bonds are surprises against the current difficult market conditions.
When the 5-year bonds were issued, the conversion price was fixed at 77.75c, slightly above the price of China Essence share then. Given that the share has been trading well below 20c lately, the 70c conversion price for the 3-year bonds beats all expectations. The interest rate of 4.5% of the new 3-year bonds is also very low compared with the effective rate of 9.49% of the 5-year bonds. More importantly, the amount owed to bond holders will be restated at a lower amount of some RMB 220m.
Will those who are experienced in corporate finance matters shed light on the leniency displayed by bond holders? "


Are there any learning points we can pick from China Essence's case (i.e. CB extension and terms) and apply it to Sino grandness?
many tks.

Are you sure Goldman Sachs is the bondholder of China Essence?

Just for info pls.
DBS is also a banker for companies such as China Essence. Goldman Sachs was the bond holder.
Both DBS and GS have good international reputation.

tks.

"talking to an international bank to borrow US 50m"

To me the above is scary, because why couldn't they get PRC banks to lend them the money?

Noted DBS being a principal banker for the group as disclosed in their annual report other than the other China based bank. Perhaps, the international bank they mentioned is DBS?

Also, think an international bank should be more assuring to investors.

[Oldman9]

Sorry, my bad. It should be Morgan Stanley.

http://www.valuebuddies.com/thread-830.html

Pls refer to an old thread on China Essence.

The bondholders allowed very favorable terms to China Essence for the extension of its CB. Skeptics could construe it as a case where the hands of the bondholders were tied. It was a quite a huge haircut of the principal plus the conversion price was only slightly discounted.

Is there any learning points we can pick from China Essence's case and apply it to Sino grandness? many tks.

Are you sure Goldman Sachs is the bondholder of China Essence?

Just for info pls.
DBS is also a banker for companies such as China Essence. Goldman Sachs was the bond holder.
Both DBS and GS have good international reputation.

tks.

"talking to an international bank to borrow US 50m"

To me the above is scary, because why couldn't they get PRC banks to lend them the money?

Noted DBS being a principal banker for the group as disclosed in their annual report other than the other China based bank. Perhaps, the international bank they mentioned is DBS?

Also, think an international bank should be more assuring to investors.

Hi Curiousparty


Oldman thinks differently. Sino Grandness has catalyst coming which is the spin off and understand from those attended the AGM that management has intention to redeem the bonds fully. Bondholders are waiting out for the spin off for more returns if they could. It's totally different situation.

Can share what can be picked up from China Essence case and apply at Sino Grandness? Would like to hear from you so that oldman can learn something.

Thanks

Oldman9.

[Curiousparty]

I have nothing further to contribute. Tks.

Sorry, my bad. It should be Morgan Stanley.

http://www.valuebuddies.com/thread-830.html

Pls refer to an old thread on China Essence.

The bondholders allowed very favorable terms to China Essence for the extension of its CB. Skeptics could construe it as a case where the hands of the bondholders were tied. It was a quite a huge haircut of the principal plus the conversion price was only slightly discounted.

Is there any learning points we can pick from China Essence's case and apply it to Sino grandness? many tks.

Are you sure Goldman Sachs is the bondholder of China Essence?

Just for info pls.
DBS is also a banker for companies such as China Essence. Goldman Sachs was the bond holder.
Both DBS and GS have good international reputation.

tks.

Noted DBS being a principal banker for the group as disclosed in their annual report other than the other China based bank. Perhaps, the international bank they mentioned is DBS?

Also, think an international bank should be more assuring to investors.

Hi Curiousparty


Oldman thinks differently. Sino Grandness has catalyst coming which is the spin off and understand from those attended the AGM that management has intention to redeem the bonds fully. Bondholders are waiting out for the spin off for more returns if they could. It's totally different situation.

Can share what can be picked up from China Essence case and apply at Sino Grandness? Would like to hear from you so that oldman can learn something.

Thanks

Oldman9.

[Oldman9]

Hi all

not the Form A1 news, but still good to know.
http://infopub.sgx.com/FileOpen/Press%20...eID=348076

NEWS RELEASE
SINO GRANDNESS SUCCESSFULLY ROLLS OUT GARDEN FRESH JUICES
INTO 7-ELEVEN STORES IN HONG KONG, AIMING FOR THAILAND
EXPORT MARKET NEXT
• Expanded presence in Hong Kong expected to increase Garden Fresh brand awareness
further beyond PRC mainland market
• Engaged in discussions to explore possibility of exporting Garden Fresh juices into
Thailand market during second half of 2015
SINGAPORE – 05 May 2015 – Mainboard-listed Sino Grandness Food Industry Group
Limited 中华食品工业集团有限公司 (“Sino Grandness” or “the Company” and together
with its subsidiaries, the “Group”), a Shenzhen, China based food and beverage company
principally involved in the production and distribution of fruit and vegetable juices as
well as canned food products is pleased to announce the further expansion of its
distribution network in Hong Kong for its own-branded 鲜绿园®
(“Garden Fresh”) fruit
juices. In April 2015, Garden Fresh juices have been successfully rolled out across
multiple 7-Eleven stores in Hong Kong.


cheers

oldman9

[Wildreamz]

http://infopub.sgx.com/FileOpen/Press%20...eID=348076

SINO GRANDNESS SUCCESSFULLY ROLLS OUT GARDEN FRESH JUICES
INTO 7-ELEVEN STORES IN HONG KONG, AIMING FOR THAILAND
EXPORT MARKET NEXT

http://infopub.sgx.com/FileOpen/release%...eID=347972

Sino Grandness Food Industry Group Limited (中华食品工业集团有限公司) would
like to inform that it intends to release its first quarter financial results ended 31
March 2015 (“1Q2015”) on or before 12 May 2015.

[newborn1000]

funny..........Sino grandness announced their quarterly already......I was looking forward to a fiery debate

Where have all the investors, traders and pundits gone off to?

[CY09]

Nothing interesting to shout about for its results

[newborn1000]

What about the IPO?

I must be blind, not a word about it about IPO in the press release? What about the new market survey that was commission.....

Someone point me to the right direction please?

[Oldman9]

Hi All

highlights of Q12015 results.

NEWS RELEASE
SINO GRANDNESS 1Q15 NET PROFIT SURGES 512.5% TO RMB108.2M
FROM RMB17.7M IN 1Q14
 1Q15 Group revenue increased 21.9% year on year (yoy) to RMB582.2m
 1Q15 gross profit rose 26.7% yoy to RMB237.5m
 1Q15 adjusted earnings up 44.7% yoy to RMB105.2m
 1Q15 beverage segment revenue up by 26.4% yoy to RMB422.8m due to strong orders
for Garden Fresh juices
 1Q15 domestic canned products revenue surged 57.8% to RMB63.8m due to strong
orders for Grandness canned fruits
 Cash and cash equivalents increased to RMB419.9m as at 31 March 2015 compared to
RMB223.6m as at 31 December 2014
 Indicative orders secured after conclusion of Chengdu Trade Exhibition increased by
21.0% to RMB470m

2 items am not sure about. One is on the fair value part which I dont understand how it is treated and the other is trade receivable which I find a bit of a concern still.

Nevertheless, the counter performed well yesterday.

Cheers
oldman9.

[specuvestor]

funny..........Sino grandness announced their quarterly already......I was looking forward to a fiery debate

Where have all the investors, traders and pundits gone off to?

Was waiting for someone to ask this Ans: Cause this is not the most important announcement

What about the IPO?

I must be blind, not a word about it about IPO in the press release? What about the new market survey that was commission.....

Someone point me to the right direction please?

The market surveryer has to publish. They can't do it until then.