Posts: 1,507
Threads: 29
Joined: Jan 2013
Reputation:
33
05-09-2013, 06:24 PM
(This post was last modified: 05-09-2013, 06:47 PM by Wildreamz.)
Moody's reviews China Minzhong's Ba3 rating for upgrade [ Full Story]
Quote:"Majority ownership by a much larger company with a significantly stronger credit profile means that a degree of implicit support will likely be factored into China Minzhong's rating," says Lina Choi, a Moody's Vice President and Senior Analyst.
Reference:
Lina Choi's Ba3 rating rationale for Yanlord in May 2013.
Rating Methodology: Global Protein and Agriculture Industry
Posts: 1,507
Threads: 29
Joined: Jan 2013
Reputation:
33
05-09-2013, 10:35 PM
(This post was last modified: 05-09-2013, 10:37 PM by Wildreamz.)
http://infopub.sgx.com/FileOpen/Dealings...eID=255415
Indofood announced that they have acquired 11,105,000 shares, presumably through open market purchase, on 5th September 2013.
Indofood's stake in China Minzhong, officially stands at 59.44%.
http://infopub.sgx.com/FileOpen/Dealings...eID=255238
Indofood announced that they have acquired 40,000,000, presumably through open market purchase, on 4th September 2013.
Indofood's stake in China Minzhong, officially stands at 57.75%.
Posts: 1,507
Threads: 29
Joined: Jan 2013
Reputation:
33
06-09-2013, 12:50 AM
(This post was last modified: 06-09-2013, 01:05 AM by Wildreamz.)
Institutional investors increased stake:
1. UBS AG increased stake on 3rd September at an average price of 1.121 from 4.246% to 5.398%
2. Credit Suisse AG's subsidiaries increased stake on 2nd September at an undisclosed price from 2.9875% to 6.6583% and subsequently to 7.0458% on 3rd September.
As an investor that almost suffered permanent capital loss in the events that unfolded the past few weeks, first, I really appreciated all the friendly words of support fellow forumers have showed me.
Thank you.
I will be keeping a close watch over the development of this counter closely, regardless if I would be keeping my position in it, so as to take this opportunity to learn.
Some interesting articles on the topic of fraud detection and investing in China in general:
1) China Finance: What makes a company short-selling resistant
2) Why One US Hedge Funder Went To China Long, Before Coming Back Home And Shorting Everything
3) On SAIC and SEC Filings
4) Investing in China Just Got a Whole Lot Riskier
Posts: 402
Threads: 2
Joined: Mar 2011
Reputation:
5
To add to your ABC soup, now we've got local government "involvement" in false data... Fundamental investing on S-chips anyone?
It's more about faith and bxxls of titanium 
http://english.sina.com/china/2013/0905/625704.html
Just google singapore man of leisure
Posts: 3,474
Threads: 95
Joined: Jul 2011
Reputation:
17
(05-09-2013, 12:49 PM)yeokiwi Wrote: Quote:Mr Gerald said: “Two of our SGX-listed companies have already come under attack and many investors have been hurt by these short sellers. How many more of such reckless, unfounded assaults on honest companies does the Singapore market need to see before such unethical practices are stopped?”
China Aviation Oil, ACCS, HongXing and Jurong Technologies had been awarded Transparency award by SIAS and many investors had been hurt by investing into these companies. How many more of such useless awards does the Singapore market need to see before such awards are stopped? Ya lol! China HongXing alone, i took a 35-40 K hit. Until now still suspended. i dared to take the hit earlier if not at least another 15-20 K.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 1,507
Threads: 29
Joined: Jan 2013
Reputation:
33
06-09-2013, 06:00 PM
(This post was last modified: 06-09-2013, 06:40 PM by Wildreamz.)
More insights on shortsellers, Chinese accounting and other issues.
More on SAIC and SEC discrepancies
Seems like finding such discrepancies has been the bread and butter for short sellers for quite some time.
Posts: 1,507
Threads: 29
Joined: Jan 2013
Reputation:
33
06-09-2013, 08:25 PM
(This post was last modified: 06-09-2013, 08:43 PM by Wildreamz.)
4th September UBS AG reduced holdings in China Minzhong via market transaction at the price of 1.119 SGD from 5.398% to 3.955%.
6th September Indofood increased holdings in China Minzhong via market transaction at the price of 1.12 SGD from 59.44% to 59.48%.
Posts: 730
Threads: 27
Joined: Sep 2010
Reputation:
8
What is UBS doing? I guess the trader will be fired soon..
Posts: 763
Threads: 18
Joined: Apr 2012
Reputation:
18
(06-09-2013, 12:50 AM)Wildreamz Wrote: Institutional investors increased stake:
1. UBS AG increased stake on 3rd September at an average price of 1.121 from 4.246% to 5.398%
2. Credit Suisse AG's subsidiaries increased stake on 2nd September at an undisclosed price from 2.9875% to 6.6583% and subsequently to 7.0458% on 3rd September.
As an investor that almost suffered permanent capital loss in the events that unfolded the past few weeks, first, I really appreciated all the friendly words of support fellow forumers have showed me.
Thank you.
I will be keeping a close watch over the development of this counter closely, regardless if I would be keeping my position in it, so as to take this opportunity to learn.
Some interesting articles on the topic of fraud detection and investing in China in general:
1) China Finance: What makes a company short-selling resistant
2) Why One US Hedge Funder Went To China Long, Before Coming Back Home And Shorting Everything
3) On SAIC and SEC Filings
4) Investing in China Just Got a Whole Lot Riskier
From the link you had, there is a comment that counter the agrument,
"Your overlook the obvious. The tax documentation is reviewed and approved and chopped by the SAT and forwarded to the SAIC. You are suggesting that the numbers between the SAT and SAIC are independently filed which is totally incorrect."
--------
So... SAT and SAIC should tally afterall. But then, hey its China. But if SAIC documents can be available to all through a fees, why not SAT? Listed company annual reports would contain all the info, why would anyone claim they would deflat the numbers so that competitors will not get an edge over their business?
Given that we now know how grey SAIC documentation or even SAT can be, if future shots by short sellers come from such an angle, does it still have any teeth???? It seem easy to strike fear at s-chips or china companies, I am quite sure, if I pay a fees for the 140 odds s-chip filings at SAIC since their IPO, I will find more than an handful.
Shorting a company does not seem to need that much research or detective scutbutting I would expect...
Posts: 1,507
Threads: 29
Joined: Jan 2013
Reputation:
33
|
Homepage
PR Newswire
