Viz Branz

[CityFarmer]

One issue settled between the father and son

http://info.sgx.com/webcorannc.nsf/Annou...endocument

WITHDRAWAL OF ALLEGATIONS AND COMPLAINT BY MR CHNG KHOON PENG ("CKP")

Reference is made to the Company's announcement of 26 March 2012 in relation to allegations and complaint made by CKP.

Subsequent to further engagements by the Company with CKP, including providing its explanations together with supporting documents (where applicable), CKP has in writing withdrawn "without any reservation whatsoever" his previous allegations, and further stated that he intends to withdraw his complaints lodged with the Commercial Affairs Department. This is a vindication of the directors' earlier position subsequent to their investigations into such allegations. The Company would therefore consider the allegations wholly and absolutely dismissed, now that CKP is no longer pursuing them, particularly as he has also acknowledged there is "no further basis nor concerns" for his allegations.

[l0nEr]

以和为贵。
Good to see the father and son reconcile...
Does that mean its time for me to see my dividends and greater growth in the company? I see Super Group stocks jump so fast.. super jealous.

[CityFarmer]

Auditors are the same as other service providers e.g. Taxi, not available when the service is most needed

"...auditors, Messrs Ernst & Young LLP, have given a disclaimer of opinion...

...the Disclaimer arises from the allegations of Mr Chng Khoon Peng ("CKP"), an executive director of the Company, relating to alleged payment arrangements between Mr Chng Beng Beng Ben, the Group's Managing Director and Deputy Chairman and two Myanmar distributors of the Group ("Allegations"), which Allegations and the Company's responses thereto were announced on 26 March 2012..."

http://info.sgx.com/webcoranncatth.nsf/V...C002326C5/$file/VB-Disclaimer_of_opinion.pdf?openelement

[pianist]

interesting..next time and everytime just use disclaimer of opinion...next AGM..rem to cut the audit fees

[l0nEr]

hmm... whats the impact of this audit opinion? They already dropped charges right, so shouldnt be any issues with the transactions...???

[dydx]

I will be very surprised if Viz Branz's past and still on-going trade transactions with its appointed distributor in Myanmar are improper and to the disadvantage of Viz Branz and its public shareholders.

I suppose all shareholders will have a chance in the coming AGM to ask the CFO and directors including the IDs as well as the external auditors E&Y to explain the whole thing exhaustively.

[dydx]

Following the company's announcement on 6Dec12 informing that external auditors Ernst & Young has given a disclaimer of opinion, OCBC Investment Research has issued an update report (dated 7Dec12) on Viz Branz .....
http://www.remisiers.org/cms_images/rese...07-OIR.pdf
Their opinion is that Ernst & Young's disclaimer of opinion is a non-issue. In fact, OCBC Investment Research has maintained their 'BUY' call on Viz Branz with a Fair Value estimate of $0.74 for the counter.

This morning I went to Fairprice for my grocery shopping and noted that Viz Branz has launched 2 new products - Gold Roast White Coffee 2-in-1, and Gold Roast White Coffee 3-in-1 - which are now undergoing promotions and being priced at $6.45 a bag.

[brattzz]

2 more weeks to 31 Dec 2012, will we get a good surprise?!

[dydx]

FY12 (ended 30Jun12) AR with a nice catchy title "bean in love" makes interesting reading.....
http://info.sgx.com/listprosp.nsf/07aed3...40014437d/$FILE/Vizbranz%20AR2012_lowres.pdf

[l0nEr]

hmm havent had the stock for long... have the 2 interim dividend in question been paid already?
Are there any more dividends outstanding?
does this also mean no Final dividend will be declared for 2012????

Thanks!