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Thx, brother. Ur post is useful. Although I' m no longer vested, I had taken a lot interest in this coy before n am always interested to read any updates. Just hope I' m not bothering u too much.
speed88 ( Date: 14-Jan-2016 21:19) Posted:
CFG bond still inching up as of today. 64.625 - 66.626 (Bid - Ask price). Also, I have checked, the free float is indeed very low. All absorbed back already. Wonder if this whole saga is done on purpose to press price to distressed level. Anyone also vested here ? If no one interested then I wont bother post much ya.
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CFG bond still inching up as of today. 64.625 - 66.626 (Bid - Ask price). Also, I have checked, the free float is indeed very low. All absorbed back already. Wonder if this whole saga is done on purpose to press price to distressed level. Anyone also vested here ? If no one interested then I wont bother post much ya.
Carlyle? Still got the warrants
Observers ( Date: 11-Jan-2016 10:28) Posted:
If the USD 1.7 billion deal is real, then maybe some of these loyal small fries who supported and believed in the company, and subscribed to every single rights issue will finally be rewarded? The very last rights had an issue price of 17.3 cents per share.
Qanghoo ( Date: 11-Jan-2016 09:31) Posted:
Yep, that' s why I say they are really terrible. List coys here n use them as vehicles to suck small fries dry.
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If the USD 1.7 billion deal is real, then maybe some of these loyal small fries who supported and believed in the company, and subscribed to every single rights issue will finally be rewarded? The very last rights had an issue price of 17.3 cents per share.
Qanghoo ( Date: 11-Jan-2016 09:31) Posted:
Yep, that' s why I say they are really terrible. List coys here n use them as vehicles to suck small fries dry.
Leongsan ( Date: 11-Jan-2016 08:46) Posted:
I think they may have collected most of the free float. Looking back. Those below 1m shares info pre rights only 7%
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Yep, that' s why I say they are really terrible. List coys here n use them as vehicles to suck small fries dry.
Leongsan ( Date: 11-Jan-2016 08:46) Posted:
I think they may have collected most of the free float. Looking back. Those below 1m shares info pre rights only 7%
Qanghoo ( Date: 11-Jan-2016 06:40) Posted:
I wish those vested all the best. Got out cos of the sick major shareholders. But for those who stayed the course, they deserve to be rewarded.
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I think they may have collected most of the free float. Looking back. Those below 1m shares info pre rights only 7%
Qanghoo ( Date: 11-Jan-2016 06:40) Posted:
I wish those vested all the best. Got out cos of the sick major shareholders. But for those who stayed the course, they deserve to be rewarded.
speed88 ( Date: 10-Jan-2016 22:13) Posted:
Seems to be for the Peruvian biz only. I have some holding bought prior to the suspension. Followed some smart money but ended up suspended. Originally wrote off the amount already but now coming back alive if the deal is real. Last done 7.6c only. If deal truly materalized, then those bought 10c and below will huat big time. Watch the bond price next few days for sign.....
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I wish those vested all the best. Got out cos of the sick major shareholders. But for those who stayed the course, they deserve to be rewarded.
speed88 ( Date: 10-Jan-2016 22:13) Posted:
Seems to be for the Peruvian biz only. I have some holding bought prior to the suspension. Followed some smart money but ended up suspended. Originally wrote off the amount already but now coming back alive if the deal is real. Last done 7.6c only. If deal truly materalized, then those bought 10c and below will huat big time. Watch the bond price next few days for sign.....
Qanghoo ( Date: 10-Jan-2016 21:21) Posted:
Is it offer for the Peruvian business or for CFG itself? According to local media rpt, seems to be for Preuvian business only leh. If offer for CFG at 1.7bil USD, does it mean works out to 46.2 US c (1.7bil/3683 bil shares), or SG cts 66.1? Wow, still sound not to bad even if NAV = 90+ US c.
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Seems to be for the Peruvian biz only. I have some holding bought prior to the suspension. Followed some smart money but ended up suspended. Originally wrote off the amount already but now coming back alive if the deal is real. Last done 7.6c only. If deal truly materalized, then those bought 10c and below will huat big time. Watch the bond price next few days for sign.....
Qanghoo ( Date: 10-Jan-2016 21:21) Posted:
Is it offer for the Peruvian business or for CFG itself? According to local media rpt, seems to be for Preuvian business only leh. If offer for CFG at 1.7bil USD, does it mean works out to 46.2 US c (1.7bil/3683 bil shares), or SG cts 66.1? Wow, still sound not to bad even if NAV = 90+ US c.
speed88 ( Date: 10-Jan-2016 09:17) Posted:
Two different sources &ndash one in Peru and the other in Hong Kong &ndash told Undercurrent News that Chinese investment firm Fosun was one of the two companies interested in purchasing China Fishery Group. In 2014 Fosun held talks to buy Pesquera Diamante, Peru&rsquo s third fishery with an 8.5% share, for $950 million.
While that deal never materialized, Fosun later paid $111 million for a 14% stake in CNFC, one of China&rsquo s largest deep-sea fishing companies.
http://perureports.com/2016/01/07/distressed-chinese-firm-to-sell-perus-largest-fishery/
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Is it offer for the Peruvian business or for CFG itself? According to local media rpt, seems to be for Preuvian business only leh. If offer for CFG at 1.7bil USD, does it mean works out to 46.2 US c (1.7bil/3683 bil shares), or SG cts 66.1? Wow, still sound not to bad even if NAV = 90+ US c.
speed88 ( Date: 10-Jan-2016 09:17) Posted:
Two different sources &ndash one in Peru and the other in Hong Kong &ndash told Undercurrent News that Chinese investment firm Fosun was one of the two companies interested in purchasing China Fishery Group. In 2014 Fosun held talks to buy Pesquera Diamante, Peru&rsquo s third fishery with an 8.5% share, for $950 million.
While that deal never materialized, Fosun later paid $111 million for a 14% stake in CNFC, one of China&rsquo s largest deep-sea fishing companies.
http://perureports.com/2016/01/07/distressed-chinese-firm-to-sell-perus-largest-fishery/
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Two different sources &ndash one in Peru and the other in Hong Kong &ndash told Undercurrent News that Chinese investment firm Fosun was one of the two companies interested in purchasing China Fishery Group. In 2014 Fosun held talks to buy Pesquera Diamante, Peru&rsquo s third fishery with an 8.5% share, for $950 million.
While that deal never materialized, Fosun later paid $111 million for a 14% stake in CNFC, one of China&rsquo s largest deep-sea fishing companies.
http://perureports.com/2016/01/07/distressed-chinese-firm-to-sell-perus-largest-fishery/
Anyway, it has been suspended for so long. For the retail investor everything has been decided since the halt more than a month ago, want to buy, want to sell all is too late already.
Qanghoo ( Date: 10-Jan-2016 06:26) Posted:
I used to be very positive abt CFG n wast vested. But to me it' s terrible that majority shareholders have killed a good promising coy set up with their hanky-panky business at the expense of minorities - to say they disregard minorities is bad enough but what appeared worse is how they took advantage at expense of minorities. Am no longer vested.
speed88 ( Date: 10-Jan-2016 00:04) Posted:
CFG Bond price as of Jan 8th has climbed up further to 61.75 - 63.75 (bid - ask). You can click the link below to check the lastest price next week. Lowest it went during the bad news was 30.55 - 33.625 on Nov 30th. Current level is around post CAD investigation news around Aug 20 when it dropped from 95-97 to 57-61,
https://www.bondsupermart.com/main/bond-info/bond-factsheet/USP25239AB34
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Wow 30 cents to the dollar bond bottom. Must have caused many long time sophisticated shareholders to abandon ship.
After so many rights issues and CAD investigations and bankruptcy proceedings, I think only the most hardcore of hardcore investors (as well as those who have forgotten they have shares in this company) are still vested.
speed88 ( Date: 10-Jan-2016 00:04) Posted:
CFG Bond price as of Jan 8th has climbed up further to 61.75 - 63.75 (bid - ask). You can click the link below to check the lastest price next week. Lowest it went during the bad news was 30.55 - 33.625 on Nov 30th. Current level is around post CAD investigation news around Aug 20 when it dropped from 95-97 to 57-61,
https://www.bondsupermart.com/main/bond-info/bond-factsheet/USP25239AB34
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I used to be very positive abt CFG n wast vested. But to me it' s terrible that majority shareholders have killed a good promising coy set up with their hanky-panky business at the expense of minorities - to say they disregard minorities is bad enough but what appeared worse is how they took advantage at expense of minorities. Am no longer vested.
speed88 ( Date: 10-Jan-2016 00:04) Posted:
CFG Bond price as of Jan 8th has climbed up further to 61.75 - 63.75 (bid - ask). You can click the link below to check the lastest price next week. Lowest it went during the bad news was 30.55 - 33.625 on Nov 30th. Current level is around post CAD investigation news around Aug 20 when it dropped from 95-97 to 57-61,
https://www.bondsupermart.com/main/bond-info/bond-factsheet/USP25239AB34
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CFG Bond price as of Jan 8th has climbed up further to 61.75 - 63.75 (bid - ask). You can click the link below to check the lastest price next week. Lowest it went during the bad news was 30.55 - 33.625 on Nov 30th. Current level is around post CAD investigation news around Aug 20 when it dropped from 95-97 to 57-61,
https://www.bondsupermart.com/main/bond-info/bond-factsheet/USP25239AB34
Think must be something we don' t know. Or, just speculating of course .... HSBC themselves are in a shaky position n want their $$$ back. Of course if u liquidate, there' s a high risk of ur not recovering in full too. But they had probably figured that the Peruvian crown jewel is worth a lot n they cld milk it quickly. Sounds a bit far fetched? Maybe ..... we never know though.
Observers ( Date: 09-Jan-2016 12:45) Posted:
" Why is HSBC appearing to be so anti NGs. The other banks.DBS Citic and Rabo, I think, are more supportive."
Good cop bad cop?
Leongsan ( Date: 09-Jan-2016 09:23) Posted:
Should it not be NAV plus profit or loss on sale of Peru assets?
PARD also has loans and notes which need to be paid. So is the holding company and the Ngs?
Why is HSBC appearing to be so anti NGs. The other banks.DBS Citic and Rabo, I think, are more supportive.
My guess S 60 to 80 cents about there.
Do you think share has little free float and cornered?
The US$1.7 bil price is fair I think. They paid US$800 for Copeinca, plus US$250m notes.for 10%quota, The other old 7% at same price =
China need this resource badly for piglets and food. Aqua culture is being replaced by plant feed Omega 6 not 3 in farm bred salmon that are not ocean going
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" Why is HSBC appearing to be so anti NGs. The other banks.DBS Citic and Rabo, I think, are more supportive."
Good cop bad cop?
Leongsan ( Date: 09-Jan-2016 09:23) Posted:
Should it not be NAV plus profit or loss on sale of Peru assets?
PARD also has loans and notes which need to be paid. So is the holding company and the Ngs?
Why is HSBC appearing to be so anti NGs. The other banks.DBS Citic and Rabo, I think, are more supportive.
My guess S 60 to 80 cents about there.
Do you think share has little free float and cornered?
The US$1.7 bil price is fair I think. They paid US$800 for Copeinca, plus US$250m notes.for 10%quota, The other old 7% at same price =
China need this resource badly for piglets and food. Aqua culture is being replaced by plant feed Omega 6 not 3 in farm bred salmon that are not ocean going
nngeeh ( Date: 09-Jan-2016 00:08) Posted:
Thanks Bro.
Question,
Are you adding NAV + Liability + Balance to get 85.2? Shouldn' t it be NAV - Liability, right? Secondly, most of the NAV comprises of the Peru asset which will be sold. After selling Peru, i don' t think there is much left in the other assets. i think it should be NAV = Offer(Peru asset) - liability?
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But if offer 50c, who will accept? Then some assn got chance to wayang again lor.
huafaster ( Date: 09-Jan-2016 10:26) Posted:
| No need to think more, just hope a white knight come out to private it@~50c, then delisted, all long brothers laugh to bank! |
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No need to think more, just hope a white knight come out to private it@~50c, then delisted, all long brothers laugh to bank!
Sorry, brother, PS. Forgot to take out the value of Peruvian asset sold. If we assume amt paid = carrying cost = 800 mil USD, on per share basis = 21.7 US c. Hence net asset/share after completion of transaction is (85.1-21.7) = 63.5 US c (SGD = 90.8). That' s talking abt CFG. Not including any parent liability as they are separate entity n CFG share holders are not liable.
Hope I' ve not missed anything anymore. Anyway, Kopitiam accountant more often than not, need more probing along the way.
nngeeh ( Date: 09-Jan-2016 00:08) Posted:
Thanks Bro.
Question,
Are you adding NAV + Liability + Balance to get 85.2? Shouldn' t it be NAV - Liability, right? Secondly, most of the NAV comprises of the Peru asset which will be sold. After selling Peru, i don' t think there is much left in the other assets. i think it should be NAV = Offer(Peru asset) - liability?
Qanghoo ( Date: 08-Jan-2016 22:33) Posted:
Brother, apologies I double counted. Bro ysh is correct. Rough com below (US cts) :
NAV = 39
Lia/sh = 32.6
Bal fr sale/sh = 13.6
Total = 85.2 (SGD 1.22)
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The NAV includes mainly the Peru asset which is being sold. The 1.7 USD billion is buying most of the NAV. So, when you minus 1.7 (offer for Peru asset which constitute most of the NAV)-1.2( liability), and then you add the NAV... Won' t you have included the Peru asset twice in your calculation?
Or are you saying the NAV value that you are using is already excluding the Peru asset?
Leongsan ( Date: 09-Jan-2016 09:23) Posted:
Should it not be NAV plus profit or loss on sale of Peru assets?
PARD also has loans and notes which need to be paid. So is the holding company and the Ngs?
Why is HSBC appearing to be so anti NGs. The other banks.DBS Citic and Rabo, I think, are more supportive.
My guess S 60 to 80 cents about there.
Do you think share has little free float and cornered?
The US$1.7 bil price is fair I think. They paid US$800 for Copeinca, plus US$250m notes.for 10%quota, The other old 7% at same price =
China need this resource badly for piglets and food. Aqua culture is being replaced by plant feed Omega 6 not 3 in farm bred salmon that are not ocean going
nngeeh ( Date: 09-Jan-2016 00:08) Posted:
Thanks Bro.
Question,
Are you adding NAV + Liability + Balance to get 85.2? Shouldn' t it be NAV - Liability, right? Secondly, most of the NAV comprises of the Peru asset which will be sold. After selling Peru, i don' t think there is much left in the other assets. i think it should be NAV = Offer(Peru asset) - liability?
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