China Kangda Food

[CityFarmer]

One more company, in trouble. The company market cap is about S$43 mil...

(not vested)

Auditors cast doubts on China Kangda Food Company’s ability to continue as a going concern

SINGAPORE (Mar 24): BDO Limited and BDO LLP, the auditors of China Kangda Food Company, has reported an emphasis of matter for the company’s financials for FY14 ended Dec.

In a filing to the Singapore Exchange, BDO says China Kangda had incurred a net loss of RMB7.1 million ($1.6 million) for FY14, and as end Dec, the group’s liabilities exceeded its current assets by RMB58.3 million.

“These conditions ... indicate the existence of a material uncertainty which may cast significant doubt about the Group’s ability to continue as a going concern,” concludes BDO.

China Kangda Food produces, processes, distributes, and sells food products on the Mainland.

Its stock last traded at 10 cents.
http://www.theedgemarkets.com/sg/article...ng-concern

[cyclone]

Mandatory Unconditional Cash Offer upon the completion of the deal : HK$1.34 a share ~ S$0.24 per share.

China Kangda Food's chairman and others rid 69.18% stake at HK$1.34/shr

by ANGELA TAN
Tuesday, May 2, 2017 - 10:08

DUAL-listed China Kangda Food Company said six of its shareholders and Japan-incorporated Zensho Holdings have agreed to sell an aggregate of 299.52 million shares, representing a 69.18 per cent stake, in the company for HK$401.35 million.

The sale of China Kangda - a company involved in the breeding and sale of livestock, poultry and rabbits - to China Tian Yuan Manganese translates to HK$1.34 a share and values the company at HK$580.15 million.

At HK$1.34 a share, the sale price is at a 44.63 per cent discount to the closing price of HK$2.42 a share on the Hong Kong Stock Exchange on April 21, 2017, the last trading day.

More details in http://www.businesstimes.com.sg/companie...t-hk134shr