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Latest Posts By Peter_Pan - Supreme      About Peter_Pan
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02-Sep-2013 14:06 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Actually I feel the management should not sell their stakes...they are the experts and founders inside CMZ...cannot abandon ship!!!
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02-Sep-2013 13:56 Biosensors   /   Is Biosensors a good buy?       Go to Message
x 0
x 0 		Took profits liao...dunno will up somemore or not...up also no choice...shifting funds to another counter.
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02-Sep-2013 13:54 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		If they sell their stake at a discount...i think you know what i mean liao...
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02-Sep-2013 13:51 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Does it make sense for the Directors/Major Shareholders/CEO to give up their stakes just like that??? The minor shareholders how???
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02-Sep-2013 13:46 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		" Thanks to Glaucus the price is a lot cheaper and  Indofood   
can make a takeover at a much lower price. By taking it private,   
Indofood will also have more flexibility to integrate it into   
their business."  
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02-Sep-2013 12:32 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Indonesia's Indofood may make offer for embattled China Minzhong

* Indofood could make an announcement later on Monday 
* China Minzhong value down almost 50 pct since Glaucus 
report 
* China Minzhong rejects any accounting irregularities 

(Adding Minzhong's defence, analyst quote) 
By Anshuman Daga 
SINGAPORE, Sept 2 (Reuters) - Indonesia's Indofood Sukses 
Makmur Tbk PT  is considering making a takeover offer 
for Singapore-listed China Minzhong Food Corp Ltd 
after an attack by a short-seller wiped off almost half of the 
Chinese firm's market value. 
Indofood, the biggest shareholder in Minzhong with a 29.3 
percent stake, told the firm in a letter that it would make an 
announcement later on Monday if an offer is to be 
made.[ID:nSNZ2Dp5Nd] 
The move comes after the food producer saw its stock market 
value plunge to $273 million following a 49-page report by 
California-based Glaucus Research on accounting issues at the 
company. Minzhong, whose shares have been suspended since last 
week, has strongly rejected any irregularities.[ID:nL4N0GR0I8] 
" I think Indofood sees some form of synergistic value 
because Minzhong is more in the upstream raw materials business 
and Indofood makes noodles," said Roger Tan, CEO of Voyage 
Research in Singapore. 
" Thanks to Glaucus the price is a lot cheaper and Indofood 
can make a takeover at a much lower price. By taking it private, 
Indofood will also have more flexibility to integrate it into 
their business."  
It was the first short-seller attack on a Singapore-listed 
Chinese firm, although in recent years short-sellers have 
targeted Chinese companies listed in Hong Kong, Canada and the 
United States, citing irregularities. 
However, short-sellers have begun to focus on Singapore, 
with Muddy Waters attacking commodities firm Olam International 
Ltd  last year on its business practices, which damaged 
its shares. 
Bowing to investor pressure, Olam said it would reduce its 
spending and trim its businesses, while Singapore state investor 
Temasek stepped in to support the company, raising its stake to 
nearly 24 percent from 16 percent. 

STRONG DEFENCE 
On Sunday, Minzhong issued a strong defence of its business 
in a 19-page statement, saying it had completed its review of 
the report released by Glaucus and strongly rejected what it 
viewed as " reckless opinions" and " inferences" drawn by the 
short-seller. 
" We reiterate that most of the issues raised by Glaucus with 
regard to the financials of the company arose out of a complete 
lack of understanding of the way we conduct our business as well 
as the operating environment in the People's Republic of China,"  
it said. 
China Minzhong said it had not fabricated its sales or 
accounts as alleged by Glaucus. In its defence, Minzhong showed 
tax filings, and said it had documents and photographs to 
confirm capital expenditures. 
Glaucus did not respond to an email from Reuters on Sunday. 
Under Singapore law, a single shareholder needs to make a 
mandatory takeover offer for the target company if its stake 
increases to 30 percent. 
China Minzhong said it was taking legal advice on its next 
move. " We view the report as damaging the value that we have 
created for shareholders over the years and are consulting our 
legal advisers on possible recourse."  
Indofood said last week that it would conduct further study 
into China Minzhong but that it remained committed to the 
company. 
China Minzhong listed in Singapore in 2010 and has attracted 
several big-name investors, including Singapore sovereign wealth 
fund GIC, which sold its 14.4 percent stake in February to 
Indofood. 
Other large investors include Franklin Templeton Investments 
Corp, which holds just under 11 percent of the food producer, 
according to Thomson Reuters data. 
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02-Sep-2013 12:28 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0



Enjoy... 

GorgeousOng      ( Date: 02-Sep-2013 12:25) Posted:


Pls help me to tak bao lunch yah!!!!
🙈 🙊 🙉 🙉 🙊 🙈

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02-Sep-2013 12:24 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Ewwwww.....yucks!!!

GorgeousOng      ( Date: 02-Sep-2013 12:23) Posted:

Dreaming of you and I ...heheeeee!

Peter_Pan      ( Date: 02-Sep-2013 12:17) Posted:

Dreaming of guyu
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02-Sep-2013 12:23 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		They should quickly announce and lift halt to catch Glaucus. If after market closed release...Glaucus have time to think of counter again.
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02-Sep-2013 12:17 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Dreaming of guyu?

GorgeousOng      ( Date: 02-Sep-2013 12:16) Posted:

Having sweet sweet dream....zzzzzz

Peter_Pan      ( Date: 02-Sep-2013 12:09) Posted:

Wonder what Glaucus is doing now...midnight already...must sleep well...
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02-Sep-2013 12:09 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Wonder what Glaucus is doing now...midnight already...must sleep well...
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02-Sep-2013 12:07 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		They will chut this kind of pattern meh?

BMW320      ( Date: 02-Sep-2013 11:57) Posted:

Indofood can buy from open market. They already have confirm buyer - all the shortist.

They can take this opportunities to negotiate something from CMZ. I help you settle the shortist. You sell me CMZ stake at a discounted price. Win win situation, my frn.

In conclusion, Indofood is the big winner.

Peter_Pan      ( Date: 02-Sep-2013 11:51) Posted:

Btw, the major shareholders will want to sell their stakes meh if company is a golden hen???
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02-Sep-2013 11:51 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Btw, the major shareholders will want to sell their stakes meh if company is a golden hen???
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02-Sep-2013 11:26 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		These BBs have insider info...already queuing...
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02-Sep-2013 11:11 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0



Singapore where can buy? 
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02-Sep-2013 10:47 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Tonight (US Time) happi-hour-no-more...........

GorgeousOng      ( Date: 02-Sep-2013 10:45) Posted:



2 Sep is US Labor Day




Peter_Pan      ( Date: 02-Sep-2013 10:38) Posted:

Glaucus cannot sleep now...
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02-Sep-2013 10:39 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Olam kena attack by Muddy Waters Research again today...
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02-Sep-2013 10:38 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Glaucus cannot sleep now...
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02-Sep-2013 10:30 Biosensors   /   Is Biosensors a good buy?       Go to Message
x 0
x 0 		gd luck
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02-Sep-2013 10:27 China Minzhong   /   China Minzhong Food forum       Go to Message
x 0
x 0 		Will they offer 20% premium above last traded price?
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