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Be Good in No Good ends up in Cheap F***ing Group.
beginners ( Date: 01-Jul-2016 19:03) Posted:
BG=be good. So if you Sum up is Be Good in No Good! Lol
beginners ( Date: 01-Jul-2016 18:59) Posted:
| BG! army mgt not= business mgt! Lol |
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Blame management directors auditors both internal and external and lastly investment banks that managed their last rights issue. Cant blame sgx...
Am sure management deliberately misrepresented or even deceived...
BG=be good. So if you Sum up is Be Good in No Good! Lol
beginners ( Date: 01-Jul-2016 18:59) Posted:
BG! army mgt not= business mgt! Lol
Macqueen ( Date: 01-Jul-2016 18:45) Posted:
| Somemore BG Lo, how to lead us Chian chian. Not sure which division he from l |
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BG! army mgt not= business mgt! Lol
Macqueen ( Date: 01-Jul-2016 18:45) Posted:
Somemore BG Lo, how to lead us Chian chian. Not sure which division he from lo
beginners ( Date: 01-Jul-2016 18:34) Posted:
| Shit! Liao Liao ! Mess up by the Ng's. NG=no good. You see how many NG is in side the co? Lol |
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Somemore BG Lo, how to lead us Chian chian. Not sure which division he from lo
beginners ( Date: 01-Jul-2016 18:34) Posted:
| Shit! Liao Liao ! Mess up by the Ng's. NG=no good. You see how many NG is in side the co? Lol |
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Shit! Liao Liao ! Mess up by the Ng's. NG=no good. You see how many NG is in side the co? Lol
Ownself check ownself
SeePehJiaLat ( Date: 01-Jul-2016 16:40) Posted:
Be responsible for your action.....why blame SGX? Make money, no complain, loose money, someone else fault ?!?! 
sengsk ( Date: 01-Jul-2016 15:56) Posted:
Haha, Its time for shareholders to enquiry and dig SGX Why approved the right issue....
SGX more fishy....haha
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To read the media interview that took place slightly over a yr ago that I referred to below click
here. Absolutely misleading. Surely they already knew even then that they were in sh*t. Yet, this kind of picture was being painted. Diabolical. Corporate governance n transparency at its exemplary best in this country.
By the way, I' m no longer vested in CFG nor PARD. Managed to bail out when it became public that authorities here were investigating alleged manipulation of the coy' s shares. How sinister. This is why I strongly feel that some things here need to improve ....
Qanghoo ( Date: 01-Jul-2016 17:03) Posted:
My view is at issue is apparent absence of the governance n accuracy of information that provide the basis for investors to weigh n make informed investment decisions. I tend to think that CFG had probably been less than accurate in engaging investors n potential investors. For example, see the press release below, issued in Aug 15 in conjunction with CFG' s 3Q15 results. Seemed to have painted an assuring picture. N that was shortly before CFG defaulted on bond payment .... This is where I believe the fervent of preaching of corporate governance is more hot air than anything, creates a sense of false security for investors n provides a facade for cons to prank around.
For Immediate Release
China Fishery Reports Strong Fishing and Efficiency Improvements in Peru
Largest catch of Peruvian Anchovy in the major A season for the last three years
Net-debt-to-equity ratio improves from 89.7% to 57.8%
Singapore, 11 August 2015 &ndash Leading global industrial fishing company, China Fishery Group Limited (" China Fishery" or the " Group" ) (SGX: B0Z.SI), today reported its third quarter (" 3QFY2015" ) and nine months (" 9MFY2015" ) results for the financial year ending 28 September 2015.
There was a significant increase in the Anchovy catch in the Group&rsquo s expanded Peruvian Fishmeal and Fish oil operations during the important A Season in Peru. China Fishery caught 421,800 tons or 97% of its quota in the North Centre fishery by 28 June, and completed 100% of the quota a few days later. The Group caught 31,179 tons in the South fishery during the quarter, which is 14 times the catch in the same quarter in 2014.
" We were very pleased to achieve the highest Anchovy catch for the last three years in Peru&rsquo s most important A fishing season. Overall, this has enabled us to produce nearly 150,000 tons of Fishmeal from the A season," said Mr. Ng Joo Siang, Group Managing Director. " We have ended the quarter with solid inventories of both fishmeal and fish oil to meet future demand," said Mr Ng.
" In addition, our relentless focus on increased efficiency in Peru is paying dividends. Production efficiencies have delivered a reduction in production cost from US$1,340 to US$1,224 per ton of fishmeal," said Mr Ng.
A large proportion of fishmeal is sold in China for use in aquaculture feed. With the normalization of fishmeal production in Peru from April 2015, the market price for fishmeal appears to have stabilized at US$1,600/ton in mid-June 2015. This is despite a temporary softening of demand for fishmeal in China during the quarter, a result of the sustained heavy rainfall in southern China which has delayed the commencement of the aquaculture season in several major production regions. That notwithstanding, the price of US$1,600 per ton is still above the average price of US$1,468 over the last 5 years.
Revenue from the Peruvian Fishmeal Operations, which accounted for 59.5% of total revenue, decreased by 33.1% from US$121.1 million to US$81.1 million, due mainly to lower sales volume. Sales of our 2015 A Season production commenced towards the end of the quarter under review. Furthermore, because of the cancellation of the 2014 B fishing season, there was no inventory brought forward from the previous quarter, for sale in this quarter. This was a key reason for Group&rsquo s 3QFY2015 revenue decreasing by 12.1% from US$155.0 to US$136.2 million, and net profit declining by 85.5% from US$19.6 million to US$2.8 million.
Revenue from China Fishery Fleet operations increased by 111.7% in the quarter, primarily due to higher sales volume of products in the African market.
With the completion of the 4-for-5 Rights Issue on 30 April, 2015, the Group raised approximately S$282.5 million in net proceeds. S$237.1 million has been used, together with internal funding of the Group, to fully redeem the US$250.0 million 9.0% notes due 2017 issued by Copeinca (the " Copeinca Notes" ). The remaining proceeds of approximately S$45.4 million were used for general working capital purposes.
In March 2014, the Group announced that it was targeting to reduce its net-debt-to-equity ratio to 75% within three years. Following redemption of the Copeinca Notes, the Group is well ahead of that target at the end of the quarter, with net-debt-to-equity ratio reduced to 57.8%.
Outlook
" The operational merger in Peru has succeeded in achieving considerable margin expansion. While significant synergies and efficiencies have already been delivered to date, more will be achieved when the full merger of the two businesses in Peru is completed over the next two quarters. We will continue to focus on operational excellence and prudent cash management to ensure that we are well positioned for future growth and to meet any contingencies arising from a potential El Nino event," Mr Ng said.
For the 2015 B Season in the South Anchovy fishery, the Peruvian Ministry of Production has set the Total Allowable Catch (TAC) at 450,000 tons. This is very encouraging, as it means that the TAC for full year is 825,000 tons which is comparable to previous years. This indicates that fish stocks are currently healthy and of the same levels as earlier years. The season begins in August and will run until the end of December 2015.
sengsk ( Date: 01-Jul-2016 15:56) Posted:
Haha, Its time for shareholders to enquiry and dig SGX Why approved the right issue....
SGX more fishy....haha
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My view is at issue is apparent absence of the governance n accuracy of information that provide the basis for investors to weigh n make informed investment decisions. I tend to think that CFG had probably been less than accurate in engaging investors n potential investors. For example, see the press release below, issued in Aug 15 in conjunction with CFG' s 3Q15 results. Seemed to have painted an assuring picture. N that was shortly before CFG defaulted on bond payment .... This is where I believe the fervent of preaching of corporate governance is more hot air than anything, creates a sense of false security for investors n provides a facade for cons to prank around.
For Immediate Release
China Fishery Reports Strong Fishing and Efficiency Improvements in Peru
Largest catch of Peruvian Anchovy in the major A season for the last three years
Net-debt-to-equity ratio improves from 89.7% to 57.8%
Singapore, 11 August 2015 &ndash Leading global industrial fishing company, China Fishery Group Limited (" China Fishery" or the " Group" ) (SGX: B0Z.SI), today reported its third quarter (" 3QFY2015" ) and nine months (" 9MFY2015" ) results for the financial year ending 28 September 2015.
There was a significant increase in the Anchovy catch in the Group&rsquo s expanded Peruvian Fishmeal and Fish oil operations during the important A Season in Peru. China Fishery caught 421,800 tons or 97% of its quota in the North Centre fishery by 28 June, and completed 100% of the quota a few days later. The Group caught 31,179 tons in the South fishery during the quarter, which is 14 times the catch in the same quarter in 2014.
" We were very pleased to achieve the highest Anchovy catch for the last three years in Peru&rsquo s most important A fishing season. Overall, this has enabled us to produce nearly 150,000 tons of Fishmeal from the A season," said Mr. Ng Joo Siang, Group Managing Director. " We have ended the quarter with solid inventories of both fishmeal and fish oil to meet future demand," said Mr Ng.
" In addition, our relentless focus on increased efficiency in Peru is paying dividends. Production efficiencies have delivered a reduction in production cost from US$1,340 to US$1,224 per ton of fishmeal," said Mr Ng.
A large proportion of fishmeal is sold in China for use in aquaculture feed. With the normalization of fishmeal production in Peru from April 2015, the market price for fishmeal appears to have stabilized at US$1,600/ton in mid-June 2015. This is despite a temporary softening of demand for fishmeal in China during the quarter, a result of the sustained heavy rainfall in southern China which has delayed the commencement of the aquaculture season in several major production regions. That notwithstanding, the price of US$1,600 per ton is still above the average price of US$1,468 over the last 5 years.
Revenue from the Peruvian Fishmeal Operations, which accounted for 59.5% of total revenue, decreased by 33.1% from US$121.1 million to US$81.1 million, due mainly to lower sales volume. Sales of our 2015 A Season production commenced towards the end of the quarter under review. Furthermore, because of the cancellation of the 2014 B fishing season, there was no inventory brought forward from the previous quarter, for sale in this quarter. This was a key reason for Group&rsquo s 3QFY2015 revenue decreasing by 12.1% from US$155.0 to US$136.2 million, and net profit declining by 85.5% from US$19.6 million to US$2.8 million.
Revenue from China Fishery Fleet operations increased by 111.7% in the quarter, primarily due to higher sales volume of products in the African market.
With the completion of the 4-for-5 Rights Issue on 30 April, 2015, the Group raised approximately S$282.5 million in net proceeds. S$237.1 million has been used, together with internal funding of the Group, to fully redeem the US$250.0 million 9.0% notes due 2017 issued by Copeinca (the " Copeinca Notes" ). The remaining proceeds of approximately S$45.4 million were used for general working capital purposes.
In March 2014, the Group announced that it was targeting to reduce its net-debt-to-equity ratio to 75% within three years. Following redemption of the Copeinca Notes, the Group is well ahead of that target at the end of the quarter, with net-debt-to-equity ratio reduced to 57.8%.
Outlook
" The operational merger in Peru has succeeded in achieving considerable margin expansion. While significant synergies and efficiencies have already been delivered to date, more will be achieved when the full merger of the two businesses in Peru is completed over the next two quarters. We will continue to focus on operational excellence and prudent cash management to ensure that we are well positioned for future growth and to meet any contingencies arising from a potential El Nino event," Mr Ng said.
For the 2015 B Season in the South Anchovy fishery, the Peruvian Ministry of Production has set the Total Allowable Catch (TAC) at 450,000 tons. This is very encouraging, as it means that the TAC for full year is 825,000 tons which is comparable to previous years. This indicates that fish stocks are currently healthy and of the same levels as earlier years. The season begins in August and will run until the end of December 2015.
sengsk ( Date: 01-Jul-2016 15:56) Posted:
Haha, Its time for shareholders to enquiry and dig SGX Why approved the right issue....
SGX more fishy....haha
ysh2006 ( Date: 01-Jul-2016 15:50) Posted:
| Ya hor issue right from retailers to pay Peru debts in the end still filed Chp 11 ...why SGX approved the right issue because if SGX don't approved it they cannot call a meeting to ask retailers to approve by show hands motion ....Better like loan shark O$P Shares.... |
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Be responsible for your action.....why blame SGX? Make money, no complain, loose money, someone else fault ?!?!
sengsk ( Date: 01-Jul-2016 15:56) Posted:
Haha, Its time for shareholders to enquiry and dig SGX Why approved the right issue....
SGX more fishy....haha
ysh2006 ( Date: 01-Jul-2016 15:50) Posted:
| Ya hor issue right from retailers to pay Peru debts in the end still filed Chp 11 ...why SGX approved the right issue because if SGX don't approved it they cannot call a meeting to ask retailers to approve by show hands motion ....Better like loan shark O$P Shares.... |
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How much was each right share?
sengsk ( Date: 01-Jul-2016 15:56) Posted:
Haha, Its time for shareholders to enquiry and dig SGX Why approved the right issue....
SGX more fishy....haha
ysh2006 ( Date: 01-Jul-2016 15:50) Posted:
| Ya hor issue right from retailers to pay Peru debts in the end still filed Chp 11 ...why SGX approved the right issue because if SGX don't approved it they cannot call a meeting to ask retailers to approve by show hands motion ....Better like loan shark O$P Shares.... |
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Haha, Its time for shareholders to enquiry and dig SGX Why approved the right issue....
SGX more fishy....haha
ysh2006 ( Date: 01-Jul-2016 15:50) Posted:
Ya hor issue right from retailers to pay Peru debts in the end still filed Chp 11 ...why SGX approved the right issue because if SGX don't approved it they cannot call a meeting to ask retailers to approve by show hands motion ....Better like loan shark O$P Shares.....
Macqueen ( Date: 01-Jul-2016 12:44) Posted:
| Shit man spend so much on right issue to pay for this Peru shit hole |
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Ya hor issue right from retailers to pay Peru debts in the end still filed Chp 11 ...why SGX approved the right issue because if SGX don't approved it they cannot call a meeting to ask retailers to approve by show hands motion ....Better like loan shark O$P Shares.....
Macqueen ( Date: 01-Jul-2016 12:44) Posted:
Shit man spend so much on right issue to pay for this Peru shit hole
earthling_Seer ( Date: 01-Jul-2016 12:31) Posted:
No more hope if no buyers. Me lost big too.
https://www.fool.sg/2016/07/01/its-the-end-of-the-road-for-china-fishery-group-limited-and-pacific-andes-resources-development-ltd/
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LL Lo play us market better. Shit gx can go fly kite le
Observers ( Date: 01-Jul-2016 13:49) Posted:
Is both legs up the lorries now? Oh well, willing to gamble must be willing to lose. Just have to write off I guess - life goes on.
earthling_Seer ( Date: 01-Jul-2016 12:31) Posted:
No more hope if no buyers. Me lost big too.
https://www.fool.sg/2016/07/01/its-the-end-of-the-road-for-china-fishery-group-limited-and-pacific-andes-resources-development-ltd/
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Is both legs up the lorries now? Oh well, willing to gamble must be willing to lose. Just have to write off I guess - life goes on.
earthling_Seer ( Date: 01-Jul-2016 12:31) Posted:
No more hope if no buyers. Me lost big too.
https://www.fool.sg/2016/07/01/its-the-end-of-the-road-for-china-fishery-group-limited-and-pacific-andes-resources-development-ltd/
johnnywalker ( Date: 01-Jul-2016 12:11) Posted:
| If they restructure successfully and creditors approve then still got hope. But dunno take how long... Sibei Sian this year. Lose until buay lin chu |
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Quote from Motley Fool' s article :" shareholders of both companies would most likely walk away with nothing when all&rsquo s said and done"
Jin sad..for those.invest in S-chip always end up like dat.
earthling_Seer ( Date: 01-Jul-2016 12:31) Posted:
No more hope if no buyers. Me lost big too.
https://www.fool.sg/2016/07/01/its-the-end-of-the-road-for-china-fishery-group-limited-and-pacific-andes-resources-development-ltd/
johnnywalker ( Date: 01-Jul-2016 12:11) Posted:
| If they restructure successfully and creditors approve then still got hope. But dunno take how long... Sibei Sian this year. Lose until buay lin chu |
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Qn is - how did this happen? After the two rights (PARD n CFG), the impression seemed to have been given that the coy was on a much stronger financial footing (as reported in the local papers in an interview with Ng Joo Siang in June 15). Yet, within less than 6 mths, CFG defaulted in bond payment. Goming, SGX, wake up. What governance are we crowing abt in this country?
Macqueen ( Date: 01-Jul-2016 12:44) Posted:
Shit man spend so much on right issue to pay for this Peru shit hole
earthling_Seer ( Date: 01-Jul-2016 12:31) Posted:
No more hope if no buyers. Me lost big too.
https://www.fool.sg/2016/07/01/its-the-end-of-the-road-for-china-fishery-group-limited-and-pacific-andes-resources-development-ltd/
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Shit man spend so much on right issue to pay for this Peru shit hole
earthling_Seer ( Date: 01-Jul-2016 12:31) Posted:
No more hope if no buyers. Me lost big too.
https://www.fool.sg/2016/07/01/its-the-end-of-the-road-for-china-fishery-group-limited-and-pacific-andes-resources-development-ltd/
johnnywalker ( Date: 01-Jul-2016 12:11) Posted:
| If they restructure successfully and creditors approve then still got hope. But dunno take how long... Sibei Sian this year. Lose until buay lin chu |
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No more hope if no buyers. Me lost big too.
https://www.fool.sg/2016/07/01/its-the-end-of-the-road-for-china-fishery-group-limited-and-pacific-andes-resources-development-ltd/
johnnywalker ( Date: 01-Jul-2016 12:11) Posted:
| If they restructure successfully and creditors approve then still got hope. But dunno take how long... Sibei Sian this year. Lose until buay lin chu |
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