China Minzhong Food Corporation

[Jared Seah]

Hindsight musings:

If I high net worth investor, during the trading halt of these few days, I would have made my private banker sweat for the fees and commissions I am paying

Lower down the food chain, if I vested with a few hundred thousands in CMZ, I think I can afford paying a China expert consultancy for advice on the merits of Glaucus' claims. And just to be sure, I can seek a 2nd opinion.

Even lower the ladder, vested with tens of thousands, I would have used these few days to research just how little I understand about China accounting rules and documentation. Irrespective of the outcome of this saga, maybe it's time to put into practice what I've advised others:

Don't invest into things we don't understand. (Ouch!)

P.S. For those who "guessed" right that Indofood may make a GO, hey! You may have a hidden talent here. You could be a M&A special situations "expert". Next time must share what moves the vested parties may make OK? You the best!

[Wildreamz]

I think it Indofood's GO move is only logical right now if they truely believe in the business.

They are not planning on delisting the company per se, probably just want to increase stake on price weakness, just that SGX mandates the GO if they intend to aquire larger than 30% stake. I doubt the institutional investors that make up 25% of the shares outstanding would allow them to acquire 90% stake at anything less than $1.

But it will also depends on their entry price and other factors.

My 2c.

[Jared Seah]

1) yeokiwi

I think there's a way to have blue detailed skies and clear buildings despite the backlit.

Fall in hundreds of workers and have each carry a large reflector board like in our National Day Parade. Ta da! We have our instant fill-in lighting


2) Momoeagle,

I don't mind sloping connecting bridges. For supply chain guys like me who makes a fuss on smooth efficient flow of goods, I hate stairs.

Fork-lifts and push trolleys don't like stairs

Perhaps that's why so few people outside the factories and warehouses. Everyone busy inside hauling sacks of mushrooms by hand.

[minimax]

Don't invest into things we don't understand. (Ouch!)

But the waters run very very deep in China. Who'd have guessed that a sole proprietorship(HK Yifenli) would be the top customer of a listed company?

[Wildreamz]

Are there serious queries about the pictures posted by Minzhong?

1) I believe the property is still under construction and is not fully operational yet.

2) I think using Photoshop to improve picture quality is common among professional photographers for publications, newsletters, magazines etc.

[NTL]

I agree that touch up of photos are ok. I am not a photo expert, so cannot comment on that.

My question about the photos is why are there so few workers in the factory? Thr factory is also exceptionally tidy. Do they purposely take the photos during break time?

[Jared Seah]

I remember a "funny" incident in China where we sat down with one supplier who supplied us what we wanted: full certification from the local fire dept and chop that the factory meets all the fire safety requirements.

Nobody wants to be in the press to be a MNC buyer of a local factory that burned down together with their employees - like in Bangladesh.

But upon visiting the factory, reality was totally different!!!

We had to explain we want to see sprinklers in the ceiling. The round round water hose thing physically installed and WORKING! (Don't laugh, I've seen water hose not connected to any pipes) Exit signs installed on the doors (like in cinemas as with smoke it's dark dark you know?) And please don't block the fire exits with inventory. Yes, I know the inventory belongs to us, it's still not OK....

It's not helped that some US MNC buyers only want "certifications". They not interested in sending boots on the ground to verify certification tallys with reality.

Those were fun days.

And yes, the exit signs were in Chinese. When you want to source competitively, we go local. (But it's a cat and mouse game - any certification can be "purchased")

LOL!

[cfa]

Gap was my customers many many ears ago before they set up their own office , they only worked with factories who can comply all these.

[kang]

It may be a big hoo ha after all. With Glaucus being the loki in this whole episode and stirring a big scene as a distraction to their real motive.

[kbl]

Announce Date:01 Mar 2013 Date of Effective Change:28 Feb 2013 PT Indofood Sukses Makmur Tbk SSH S/U 94,245 - 1.195 192,245 29.330

<Not Vested>