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China Minzhong Food forum
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des_khor
Supreme |
02-Sep-2013 12:53
Yells: "Tell me who is the God or MFT from this forum??" |
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Just to remind you that later kenal charge like Malaysia Sexblogger !
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Octavia
Elite |
02-Sep-2013 12:51
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If it opens ard 80c,there is not much meat left. | ||||
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des_khor
Supreme |
02-Sep-2013 12:51
Yells: "Tell me who is the God or MFT from this forum??" |
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Is it halal ?
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GorgeousOng
Elite |
02-Sep-2013 12:34
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Thank you... So kind of you!!!!
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Peter_Pan
Supreme |
02-Sep-2013 12:32
Yells: "did you order dunkin' donuts" |
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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 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 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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Peter_Pan
Supreme |
02-Sep-2013 12:28
Yells: "did you order dunkin' donuts" |
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 Enjoy...
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GorgeousOng
Elite |
02-Sep-2013 12:25
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Pls help me to tak bao lunch yah!!!! 🙈 🙊 🙉 🙉 🙊 🙈 |
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BMW320
Member |
02-Sep-2013 12:25
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Business collaboration, business strategy, u name it. Perfectly alrite from business pt of view.
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Peter_Pan
Supreme |
02-Sep-2013 12:24
Yells: "did you order dunkin' donuts" |
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Ewwwww.....yucks!!!
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Peter_Pan
Supreme |
02-Sep-2013 12:23
Yells: "did you order dunkin' donuts" |
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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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GorgeousOng
Elite |
02-Sep-2013 12:23
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Dreaming of you and I ...heheeeee!
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interfact
Member |
02-Sep-2013 12:20
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Logically shortist wld have covered a portion of it if not all after announcing its intention. | ||||
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Polarbear55
Member |
02-Sep-2013 12:18
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Glaucus preparing short sell report on Indofood...for acquiring a company worth 'zero'!! Haha | ||||
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MrRice
Member |
02-Sep-2013 12:17
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Cmz queuing at 80 cts now.. Anyone of u q? | ||||
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Peter_Pan
Supreme |
02-Sep-2013 12:17
Yells: "did you order dunkin' donuts" |
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Dreaming of guyu?
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GorgeousOng
Elite |
02-Sep-2013 12:16
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Having sweet sweet dream....zzzzzz
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Peter_Pan
Supreme |
02-Sep-2013 12:09
Yells: "did you order dunkin' donuts" |
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Wonder what Glaucus is doing now...midnight already...must sleep well... | ||||
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Peter_Pan
Supreme |
02-Sep-2013 12:07
Yells: "did you order dunkin' donuts" |
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They will chut this kind of pattern meh?
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BMW320
Member |
02-Sep-2013 11:57
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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.
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Peter_Pan
Supreme |
02-Sep-2013 11:51
Yells: "did you order dunkin' donuts" |
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Btw, the major shareholders will want to sell their stakes meh if company is a golden hen??? | ||||
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