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China Minzhong Food forum
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halleluyah
Elite |
26-Aug-2013 11:01
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no ah kong support.....down to 0.60 range kah??
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ruanlai
Master |
26-Aug-2013 11:01
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Minzhong drops after short-seller calls shares worthless
4 minutes ago
China Minzhong Food is under some selling pressure this morning after a short-selling firm accused the vegetable producer of fraud and called its shares " worthless" . Californian short-seller and research firm Glaucus Research Group said Singapore-listed Minzhong " closely resembles Chaoda Modern Agriculture, another Fujian-based vegetable producer that has been halted since September 2011 under widespread allegations of fraud." |
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derekchong
Veteran |
26-Aug-2013 11:00
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no big brother support, going to be worst than Olam. | ||||
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ozone2002
Supreme |
26-Aug-2013 11:00
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super free fall now 76c.. drop 25% Y CMZ doesn't halt the share and clarify? like whole Singapore shorting this stock.. |
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halleluyah
Elite |
26-Aug-2013 10:58
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Dik, u ok tak...sudah keluar awal awal tak? teruk sekali lah kali ini. i tak masuk.... | ||||
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allanzzz
Member |
26-Aug-2013 10:57
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from the looks of it, people believe them whether the report is right or wrong | ||||
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ozone2002
Supreme |
26-Aug-2013 10:57
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80c..20% drop.. | ||||
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Peter_Pan
Supreme |
26-Aug-2013 10:53
Yells: "did you order dunkin' donuts" |
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China Minzhong shares fall 13 percent after report by shortseller Glaucus SINGAPORE, Aug 26 (Reuters) - Shares in Singapore-listed China Minzhong Food Monday after a research house with a short position in the company accused the vegetable producer of irregularities in its sales figures. Glaucus Research Group issued a report that said the irregularities involved sales to China Minzhong's top two customers, according to " corporate registry records" . A spokesman for China Minzhong said the company had no immediate comment to make. Shares in China Minzhong fell as much as 13.3 percent with more than 9.4 million shares traded, more than three times the average full-day trading volume of 2.5 million traded over the past month. Four analysts have a 'buy' or 'strong buy' on the stock, Thomson Reuters data shows. China Minzhong is due to release full-year results on Aug. 29. Glaucus Research, which is based in California, said they and their associates have a direct or indirect short position in the company so stand to make money if its share price declines. |
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ozone2002
Supreme |
26-Aug-2013 10:47
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Singapore Daily China Minzhong: Earnings Preview Buy TP $1.36 MINZ SP | Mkt Cap USD520m | ADTV USD2.4m Ø China Minzhong will publish its 4QFY6/13 results this Thursday before market. We are looking at revenue of RMB685m and net profit of RMB164m. Possible YoY and QoQ decline are due to seasonality reason. Ø In our view, there are two short term catalysts for Minzhong: 1) supply contracts from Indofood and 2) first dividends payout since IPO, which could help to argue for a re-rating case for the stock. Ø Recent developments of the company include the first-time credit rating (Ba3) given by Moody?s and the issuance of USD150m syndication loan underwritten by Citibank and Standard Chartered. In our view, this could help to rebuild investors? confidence. Maintain BUY and TP SGD1.36, pegged to historical average of 5x FY6/14 PER. from ur friendly Malaysian brokerage house Maybank.. issue this morning.. |
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bishan22
Elite |
26-Aug-2013 10:45
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Sinogrand oso affected by the cmz sell down.
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hyruga
Member |
26-Aug-2013 10:45
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Sell fast before they suspend the stock and you lose everything. | ||||
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edwinjup
Master |
26-Aug-2013 10:45
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Better avoid.all china counter.... | ||||
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ozone2002
Supreme |
26-Aug-2013 10:44
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Last:0.86 Vol:10904k  -0.155
15% down
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Aberdeen123
Senior |
26-Aug-2013 10:41
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Never trust brokerage house call too much. Hope you are out.
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oldflyingfox
Master |
26-Aug-2013 10:40
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wow, was attacked like Olam. Not forgetting that now is trading below the buying price by Indofood this year. | ||||
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ozone2002
Supreme |
26-Aug-2013 10:32
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drop 10%.. now 90.5 | ||||
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ozone2002
Supreme |
26-Aug-2013 10:30
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Last:0.95 Vol:7072k -0.065
panic @ the disco.. lowest 92c.. |
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francesco2222
Member |
26-Aug-2013 10:29
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Glaucus guys are a bunch of amateur guys who only short sell stocks. Their reports are completely biased.... I just read it looks like it was written by a kid. Anyway they short sell and then release 'reports' trying to influence the market. As there are not many research reports on cmz it might be enough to explain why it goes down this morning but this should not last long. Good opportunity to buy. Might buy a few lots this morning let's see |
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GorgeousOng
Elite |
26-Aug-2013 10:16
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Only for those who know how to appreciate "chai poh" heheeee
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francesco2222
Member |
26-Aug-2013 10:11
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haha Glaucus Research initiate with Strong Sell rating?! These guys are not even a boutique research firm. I just looked at their website and 'research reports'. They really don't seem to know much about finance. Well they have hundreds of strong sell rating so maybe they will be right for a few after all... | ||||
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