China Minzhong Food Corporation

[level13]

China Minzhong Food Corporation Limited (i) Refutes Allegations in Reports Released by Glaucus Research Group and Extends Trading Halt, and (ii) Changes Timing for Release of Full Year Results to this Evening


...the Company has obtained an extension from the SGX-ST to extend its trading halt to 5:00 p.m., 30 August 2013 (Friday)....

A waste of time. Its as good as not responding at all. All the motherhood statements.

Firstly, stating that all the accounts have been prepared in accordance with Singapore Financial Reporting Standards and audited by external auditors serves no purpose. Cleared by auditors doesnt mean no fraud. Just look at JEL,ACCS as example.

Secondly, stating that CMZ is well covered by analysts is meaningless. No correlation between fraud and analyst coverage. Need example? Just look at Enron to start with.

[kbl]

at least 1 s-chip-HsuFuChi got buy out by Nestle 2yrs ago.

<Not Vested in any s-chips>

[pianist]

HsuFuChi is a taiwan based company with operations in china. dun think is a s-chip

[kbl]

HsuFuChi is a taiwan based company with operations in china. dun think is a s-chip

Good morning Pianist.

I only know Transpac sold HsuFuChi *too early* bcos I am vested 3yrs ago. Taiwan or China??

The Company was incorporated in Cayman Islands on 18 October 2006.

Founded in 1992, Hsu Fu Chi International Limited is a confectionery group in the China. The Group markets a diverse range of its own manufactured confectionery products under three key categories:

• Candy products

• Cake and Cookie products

• Sachima products

The Group's products are mainly sold in China under its primary brand "Hsu Fu Chi" and secondary brands including "DoDo", "Chaobii" and "Mo Bao". Its products are distributed through more than 13,000 retail points of varying sizes ranging from small kiosks to hypermarkets. Its sales network comprises 56 sales offices located across most of China, which are controlled by the Sales Headquarters in Dongguan.

Its 120 production lines are equipped with modern machinery imported from countries such as Germany and Japan, with a total productive capacity of approximately 176,000 tonnes per annum.
.

[CityFarmer]

HsuFuChi is a taiwan based company with operations in china. dun think is a s-chip

Good morning Pianist.

I only know Transpac sold HsuFuChi *too early* bcos I am vested 3yrs ago. Taiwan or China??

The Company was incorporated in Cayman Islands on 18 October 2006.

Founded in 1992, Hsu Fu Chi International Limited is a confectionery group in the China. The Group markets a diverse range of its own manufactured confectionery products under three key categories:

• Candy products

• Cake and Cookie products

• Sachima products

The Group's products are mainly sold in China under its primary brand "Hsu Fu Chi" and secondary brands including "DoDo", "Chaobii" and "Mo Bao". Its products are distributed through more than 13,000 retail points of varying sizes ranging from small kiosks to hypermarkets. Its sales network comprises 56 sales offices located across most of China, which are controlled by the Sales Headquarters in Dongguan.

Its 120 production lines are equipped with modern machinery imported from countries such as Germany and Japan, with a total productive capacity of approximately 176,000 tonnes per annum.
.

Base on wiki's definition, Hsu Fu Chi was a S-Chip, before privatized.

[KopiKat]

China Minzhong Food Corporation Limited (i) Refutes Allegations in Reports Released by Glaucus Research Group and Extends Trading Halt, and (ii) Changes Timing for Release of Full Year Results to this Evening


...the Company has obtained an extension from the SGX-ST to extend its trading halt to 5:00 p.m., 30 August 2013 (Friday)....

A waste of time. Its as good as not responding at all. All the motherhood statements.

Firstly, stating that all the accounts have been prepared in accordance with Singapore Financial Reporting Standards and audited by external auditors serves no purpose. Cleared by auditors doesnt mean no fraud. Just look at JEL,ACCS as example.

Secondly, stating that CMZ is well covered by analysts is meaningless. No correlation between fraud and analyst coverage. Need example? Just look at Enron to start with.

I was thinking the date may be of some importance.... for those who're vested and who may want to make a decision before that... or for others, shortists, longists, opportunists, traders...

[pianist]

HsuFuChi is a taiwan based company with operations in china. dun think is a s-chip

Good morning Pianist.

I only know Transpac sold HsuFuChi *too early* bcos I am vested 3yrs ago. Taiwan or China??

The Company was incorporated in Cayman Islands on 18 October 2006.

Founded in 1992, Hsu Fu Chi International Limited is a confectionery group in the China. The Group markets a diverse range of its own manufactured confectionery products under three key categories:

• Candy products

• Cake and Cookie products

• Sachima products

The Group's products are mainly sold in China under its primary brand "Hsu Fu Chi" and secondary brands including "DoDo", "Chaobii" and "Mo Bao". Its products are distributed through more than 13,000 retail points of varying sizes ranging from small kiosks to hypermarkets. Its sales network comprises 56 sales offices located across most of China, which are controlled by the Sales Headquarters in Dongguan.

Its 120 production lines are equipped with modern machinery imported from countries such as Germany and Japan, with a total productive capacity of approximately 176,000 tonnes per annum.
.

Base on wiki's definition, Hsu Fu Chi was a S-Chip, before privatized.

i see perhaps i wa smistaken. i was learnt that it was own by some taiwanese brothers

[freedom]

FerroChina was owned by taiwanese boss? so?

Abalone company was owned by Singaporean, did it do better?

[Ray168]

Since the Fullyear report will be release today 5PM. Read and understand it (especially the stake holder) ...

1. Is the Asset real? Do they have cash?

2. Base on Q3 report, if we do a 100 write-off of their Trade Receivable, its NAV is RMB5.35 or ~$S1.00

Trading will resume next Monday, we have 2 days to discuss and debate. Agree to disagree...

Auditors arent allowed leak information to outsiders...
But i wouldnt think that Glaucus would forge the evidence, that will get them into very very serious trouble.

Maybe its their source that forged the documents, maybe they just left the stamp part out?

Anyway, anything we say here now would be just speculation.

[dzwm87]

Since the Fullyear report will be release today 5PM. Read and understand it (especially the stake holder) ...

Actually, we would have a glimpse of their financial performance. Indofood already reported their 1H result. They have a 30% stake in MINZ. Reverse-engineer from associates' earnings and you can get a rough figure for 2Q13 performance.