Sino Grandness

[LLS]

the valuations look so cheap, I want to buy this stock but I worry of it being another S-chip scandal
any advice?

[Wildreamz]

the valuations look so cheap, I want to buy this stock but I worry of it being another S-chip scandal
any advice?

I'll suggest you not buy, don't buy anything that makes you feel uncomfortable. There are always another option out there.

[LLS]

Yeah thanks for the advise
I'm still learning, think I should focus more on simpler businesses

[CityFarmer]

the valuations look so cheap, I want to buy this stock but I worry of it being another S-chip scandal
any advice?

I'll suggest you not buy, don't buy anything that makes you feel uncomfortable. There are always another option out there.

Yes, don't buy if you are not sure.

[weijian]

Why does the private placement give you added confidence in the accounting?

and yes, the dividend policy would apply equally to everyone.

Thanks. Because buy-side analysts that private investors employ usually do more thorough research, due to their own stake in the investment.

To add, the current thai investors are operators, not fund managers/financiers...lending more credibility to their actions.

[kikababoo]

new low in a year today. anyone know of any news not announced on SGX?

[Tiggerbee]

new low in a year today. anyone know of any news not announced on SGX?

Technically, the share price broke the first support at 64c after the share placement deal and again dipped below the 61c placement price.

I was trading it on Wed and Morgan Stanley was the counter party on the sell side. They were selling big blocks at 57.5-58c when I traded it on Wed. I bet they were also selling on Thur.

Insiders might buy back the shares if it dips to 49.5-50c. That was the last low reached in 2013 during China Minzhong fiasco. The CEO and Asdew had supported the stock price during that sell down.

CEO did comment that they might do share buy backs when market volatility impact the share price excessively.

(Not vested)

[simpleman]

Maybank’s “short term liquidity relief” says that the issue of 86m Sino Grandness shares to Thai investors is not enough. If Garden Fresh fails to get listed, more shares, resulting in 30% dilution, have to be issued.
Did the Thai investors not take this possibility into account? Why are they going to lock up 47m Sino shares for 10 years?
When Sino was listed in 2009, Chairman/CEO undertook not to sell his Sino shares for 2 years, which is actually longer than the usual moratorium of 6 months to 1 year.
Any views?

[Tiggerbee]

I used to be a shareholder but I have exited few months ago due to the company's poor corporate governance. Since the Garden Fresh ipo is crucial to meet the near term financing needs of the company, they have the obligation and responsibility to post regular updates on the progress of the ipo. However, they chose to give a one liner sentence if nothing at all in their quarterly reports. I can understand if their IR VP is a local Chinese. But it's not that case.

A company with poor corporate governance is a big negative.

[ValueBeliever]

If HK rejects Alibaba, I m sure its got a good enough reason to reject SGrand (=why wait if its a good deal to list in HK).

China kept saying the protest in HK is due to western instigation. I think it deep rooted in HK politics. If under UK, the HK people didnt have universal suffrage why would HK protester feel the need. Why HK felt so comfortable as a UK colony and so difficult to adjust under the main chinese? After all, China gave their best blue chip and business to HK so as to entice Taiwan? May be the problem is in China style of handling social issue cropping up everywhere! All I heard from Singapore official comment is HK people are not realistic - haha! Wasnt it true that Singapore aspire to be like street smart HKer! How history change? So much for China is good for Asia!!

I think better dump it while so call "institution = dumb money" wants to give money to S chip.

My view is that China is in a very difficult transition and from past S chip failure, we can see a clear pattern of governance issue on founder running away with shareholders money.

My own observation of chinese mainland stock is that they are untouchable as the well connected played them to ridiculous level. Corruption in imbue into the system and it gets into the stock market so much that that they way the chinese would play it. Its like Malaysia CLOB. The PE ratio is off the chart and lets not talk about book value!