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The whole Copeinca guarantee the us$250m debt. For 0.75% more why would the bondholders share with $1,25billion debts? Very fishy? What is your view? Are they really hard up for cash?
Blanchard ( Date: 18-Jul-2014 17:30) Posted:
China Fishery seeks Copeinca bondholders&rsquo nod to merge Peru ops, with $1.2bn debt
(Eva Tallaksen - Undercurrent News, July 18, 2014, 9:42 am)
Pacific Andes&rsquo fishing arm China Fishery Group has asked holders of Copeinca&rsquo s $250 million bond to approve a change to their terms that would see Copeinca guarantee up to $1.2 billion of debt belonging to China Fishery.
This would include $250m in new debt that might be issued by China Fishery.
The request was sent in a July 17 notice to Copeinca bondholders.
If the request receives approval from 50% of bondholders by July 30, China Fishery will be able to transfer the assets of the Peruvian fishmeal producer Copeinca, which it acquired in September 2013, to China Fishery Peru.
Copeinca will then become guarantor of up to $1.2bn in debt of China Fishery, including $650m of the new $750m loan issued in March, $300m in existing China Fishery notes and up to another $250m of senior notes or debt that might be issued by China Fishery.
&ldquo Currently, the terms of the Copeinca bonds do not allow China Fishery to transfer assets without their approval. The guarantee of the bonds now of Copeinca is by all of Copeinca&rsquo s current subsidiaries,&rdquo a US Copeinca bondholder told Undercurrent News.
&ldquo The documents do not let Copeinca guarantee anyone else, China Fishery wants to change that and let Copeinca guarantee the subsidiaries of China Fishery Peru.&rdquo
&ldquo They want bondholders to agree to amend the terms of the original issue (the prospectus) to guarantee $1.2bn of China Fishery existing bonds and new notes.&rdquo
This bondholder was in disbelief over the request. &ldquo Seriously, who is going to approve of that. I sure hope no one.&rdquo
In its document, China Fishery said the request would enable it to grow and ink financing deals it could not otherwise pursue. The change would also allow certain China Fishery subsidiaries including its Peru division to support the repayment of the Copeinca notes &mdash and vice versa, would enable Copeinca to support China Fishery debts, it said.
It then added Copeinca would benefit from the deal thanks to a &ldquo consolidated financing platform&rdquo and &ldquo enhanced liquidity&rdquo .
The document said the move would allow it to transfer Copeinca&rsquo s Copeinca International subsidiary to China Fishery Peru, and allow it to merge or transfer Copeinca assets &mdash including by way of liquidation &mdash to China Fishery Peru.
In a note, Fitch said the request would not affect its rating of China Fishery and said its bonds, due 2019, would not be impacted if the request is adopted.
&ldquo The proposed amendments will pave the way for China Fishery to consolidate its Peru operations under its main Peru subsidiary, CFG Peru,&rdquo said Fitch.
&ldquo The proposed amendments will not alter the key business terms, such as the interest rate or maturity date, of the $250m Copeinca bonds due 2017.
&ldquo Fitch does not see any changes to its view on China Fishery if the proposed indenture changes are adopted because the agency already expects China Fishery&rsquo s Peru operations to eventually be fully integrated and considers Copeinca ASA&rsquo s bonds as part of China Fishery&rsquo s debts.&rdquo
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msiceres company' season tac 2,53
independent FIS and IMARPE' s report.. year to date starting 1 jan , including part of lasr quota
stockpicker ( Date: 16-Jul-2014 14:53) Posted:
There appear to be some discrepancies between the msiceres company' s and the independent FIS and IMARPE' s report.. This one specifically mention for Anchovies..under fishmeal section
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NORTH-CENTRAL REGION
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Ports
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7-Jun
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8-Jul
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9-Jul
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10-Jul
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11-Jul
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12-Jul
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13-Jul
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Week 28
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Paita
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22
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2,230
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1,430
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1,317
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1,270
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550
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1,248
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8,067
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Chicama
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0
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0
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511
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926
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3,365
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254
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0
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5,056
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Chimbote
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1,952
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18,521
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14,769
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165
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0
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299
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0
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35,706
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Center Ports
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2,485
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17,609
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10,256
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9,307
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22,365
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21,905
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14,705
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98,632
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Pisco
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0
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6,310
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8,770
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11,710
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13,388
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17,630
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16,130
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73,938
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Total North-Central
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4,459
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44,670
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35,736
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23,425
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40,388
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40,638
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32,083
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221,399
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SOUTH REGION
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Ports
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7-Jun
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8-Jul
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9-Jul
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10-Jul
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11-Jul
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12-Jul
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13-Jul
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Week 28
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Atico/Planch
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0
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0
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0
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0
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0
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0
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0
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0
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Mollendo/Matar
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0
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0
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0
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0
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0
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0
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0
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0
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Ilo
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0
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477
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678
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0
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0
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0
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0
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1,155
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Total South
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0
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477
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678
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0
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0
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0
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0
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1,155
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Total Landing
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4,459
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45,147
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36,414
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23,425
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40,388
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40,638
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32,083
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222,554
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Nº of Boats
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33
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304
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359
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174
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444
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300
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286
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1,900
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stockpicker ( Date: 16-Jul-2014 11:18) Posted:
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http://www.msiceres.com/Welcome.do
Leongsan ( Date: 16-Jul-2014 10:54) Posted:
www.msiceres.com/
stockpicker ( Date: 16-Jul-2014 10:22) Posted:
Can quote source? think the latest is for week 27 and also, there are 3 mini-bans which should have affected the catch unless the Peruvian fishermen is fishing elsewhere also, during this period at the end of the fishing season, the catch is traditionally low..
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www.msiceres.com/
stockpicker ( Date: 16-Jul-2014 10:22) Posted:
Can quote source? think the latest is for week 27 and also, there are 3 mini-bans which should have affected the catch unless the Peruvian fishermen is fishing elsewhere also, during this period at the end of the fishing season, the catch is traditionally low..
Leongsan ( Date: 16-Jul-2014 09:19) Posted:
great catch last week total 222,554 mtons ....week 28
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quota meter at 1,613,586 mtons until july 13th.....63.77 pct of the quota landed....
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catch week 28 @ 222,554 mtons.....n/c @ 221,399 mt......south @ 1,155 mt.....
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Market hit usd 1920 fob super prime callao ....
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STOCKS CHINA NOW .... 130,300 mtons as of july 13 TH .....
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great catch last week total 222,554 mtons ....week 28
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quota meter at 1,613,586 mtons until july 13th.....63.77 pct of the quota landed....
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catch week 28 @ 222,554 mtons.....n/c @ 221,399 mt......south @ 1,155 mt.....
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Market hit usd 1920 fob super prime callao ....
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STOCKS CHINA NOW .... 130,300 mtons as of july 13 TH .....
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Hang on mama. Under the right conditions 70cents not a problem. But not now,
Bigmama ( Date: 15-Jul-2014 09:20) Posted:
Ha ha .....another bullshit TP. If reach, I quit sharejunction.
Isolator ( Date: 15-Jul-2014 06:53) Posted:
| Actually new tp...... At least 70ct.... Enjoy... |
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Small float big banker and risk taker, you cannot play against him, play with him. Can only play with the float while in control. Watch collection on TA, My view still did not collect enough. If share does down then can collect? Where is the bad news with fish ok?
srichipan ( Date: 14-Jul-2014 10:50) Posted:
Whatever that you just said got nothing to do with china fish. Prove that you can't keep your emotion in check. How to trade like that
Phil13 ( Date: 14-Jul-2014 10:43) Posted:
another secret the heart beat is now at zero. no movement.
superman actually very lousy ... when he see kryptonite, he will " creep tonite"
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Needs to push down for collection. Not yet ready though the sums about ok
JMS213 ( Date: 12-Jul-2014 23:33) Posted:
This time, you guys maybe getting the sum wrong and Isolator is right.
This stock is traded too low and has become very attractive.
Maintain time for collection. Equilibrium is positive
JMS213 ( Date: 12-Jul-2014 08:16) Posted:
" Why is the stock trading so far under water?"
The market knows that China Fishery is trading below its value or undervalued. It has consolidated its position after the acquisition of Copeinca.
How long it is going to stay at this low level ?
Change is about to happen &hellip . historically July is a cool time to look for undervalued stocks. More good news is coming .....
I have started accumulating.
Maintain Equilibrium is positive. Cheers
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Do your own sums and decide. Fish meal price ....known, Raw fish landing stockpicker kindly provide. Calculate and decide whether to plave bets. The ngs pattern you should know when you see.
Let us cut out all the noise and try to make some pocket money
PauloGan ( Date: 11-Jul-2014 08:42) Posted:
Iso sifu maybe be rightly wrong with her calls.
If u bet opposite of all her calls, u are gonna make some bucks lol
Bigmama ( Date: 11-Jul-2014 07:19) Posted:
You are right.... He is plain bull ..... Shit.
Based on his past records..... He is just a clown |
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Eat with good sweet sambal and lemak nasi while still crispy. Need to air and goreng for it to be fresh lol
Phil13 ( Date: 10-Jul-2014 10:23) Posted:
stockpicker said something leh. we are still holding this bb. why are you so quiet ???
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Price must come down first b4 can go up. 32 would be good
Phil13 ( Date: 07-Jul-2014 15:04) Posted:
wasay ... leongsan, don' t look good for the fish. suspended fishing activities ... will affect their catch hor
timely updates ... some people said rally up .... wonder how they based on.
world cup final is coming soon ... which 2 teams ?
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How true see
| Suspension of Fishing activities July 5 - 9 , 2014 |
| 2014-07-07 10:20:23.0 Imarpe, Peru |
By R.M Nº 231-2014-PRODUCE, dated July 3rd, published in our official gazet yesterday, the Ministry of Production, suspended the fishing activities of anchovy (Engraulis ringens) and white anchovy (Anchoa nasus) for a period of 5 days due to high incidence of juveniles :
-From 0:00 hours July 5 to 9th, 2014
-Between 10° 30&rsquo ( Bermejo / Huarmey ) &ndash 10° 59&rsquo ( Supe ) LS. And
-Between 13° 30&rsquo ( Tambo De Mora ) &ndash 13° 59&rsquo ( Salinas De Otuma / Pisco ) LS.
Within 20 miles off the coast.
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stockpicker ( Date: 07-Jul-2014 09:43) Posted:
The weather is not always predictable. The ultimate strength of El-Nino may have weakened but it was predicted it could come back again at year end. It is good to judge by the anchovy catch and TAC.
If CF is to rally, the BB is likely to test the support at 0.325 and they will accummulate if the support could stay. Only if there are good news, such as CF can reduce it debts through substainable earnings will CF rally from the present level.. let see what CF' s earning report will be this or next week
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The possibility of us seeing an extraordinary Nino is ruled out,"
stockpicker ( Date: 06-Jul-2014 07:15) Posted:
This reuter report said that El-Nino in Peru is over liao..
http://www.reuters.com/article/2014/07/04/peru-elnino-idUSL2N0PF16G20140704
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Peru says El Nino threat over, waters cooling and fish returning
LIMA, July 4 Fri Jul 4, 2014 7:21pm EDT
LIMA, July 4 (Reuters) - The worst of the potentially disastrous weather pattern El Nino is now behind Peru and cooling sea temperatures are luring back schools of anchovy, the key ingredient in fishmeal, authorities said on Friday.
Temperatures in Peru' s Pacific peaked in June, rising 3 degrees Celsius (5.4 Fahrenheit) above average levels, but have since retreated and will likely return to normal by August, the state committee that studies El Nino said.
" The possibility of us seeing an extraordinary Nino is ruled out," said German Vasquez, the head of the committee.
Peru is the world' s top fishmeal exporter, producing about a third of worldwide supply. The industry is concentrated along the South American country' s northern and central coast.
Cold-water anchovy that swam south to escape warmer sea temperatures that arrived in April are making their way back now, Vasquez said.
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The show about to start. mat test 32and 34 range. Happy fishing.
Leongsan ( Date: 10-Jun-2014 19:42) Posted:
My posting made sometime ago when there were noise, NOW IS LOUD.
THE PRICE WILL DRIFT UNTIL it is known that how much of the Quota is caught, el nino etc.See my post below. You make money by watching price of fish meal, site I had posted, How much is the catch please all look out. Mid May 550,000 tons raw fish was landed.
Blind faith does not catch china fish
Cheers
Isolator ( Date: 04-Jun-2014 10:16) Posted:
| Markets has proven you wrong when it rebounded.... Now I will let the markets to prove you wrong on your hope... Enjoy.. |
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The market you must mean the NGS. No other can influence oy dare on small float. Certainly not those that shout loud buy sell and look all over the ocean. Its ikan bilis we are talking no more pollock. They had been kicked oit by the marfia.
Blanchard ( Date: 01-Jul-2014 16:58) Posted:
A simplistic view: the weather affects the catch the catch affects the selling price and eventually the shares price.....
The market shall determine the shares price. 
Leongsan ( Date: 01-Jul-2014 16:32) Posted:
If you know the selling price, know the catch, you know the outcome? If you know the weather, do you also know the share price?
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If you know the selling price, know the catch, you know the outcome? If you know the weather, do you also know the share price?
Blanchard ( Date: 01-Jul-2014 16:01) Posted:
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Please keep a look out for fish catch update. Improved catch at $2000 great profit.
sign to buy?
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Larest catch and quota usuage of 2.53 mil tonnes please.
PRICES $2000
China" Peruvian Fishmeal " Cash Market by Ports #26
China
main ports
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Peruvian
fishmeal
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Week 26
RMB Price
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Week 25
RMB Price
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Changes
RMB Price
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Dalian
|
Super Prime 68%
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12,300
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12,300
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unchanged
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Standard 65%
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11,300
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11,300
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unchanged
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Tianjin
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Super Prime 68%
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12,300
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12,300
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unchanged
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Standard 65%
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11,300
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11,300
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unchanged
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Shanghai
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Super Prime 68%
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12,300 &ndash 12,500
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12,200
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+ 100/mt
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Standard 65%
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11,200
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11,200
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unchanged
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Huangpu
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Super Prime 68%
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12,300
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12,200
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+ 100/mt
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Standard 65%
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11,200
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11,200
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unchanged
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Remark :
- The prices are an indication investigated by ChinaFeedOnline.com (CFO) port agents and price changes is weekly basis.
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Lim Hock San is a very smart accountant. He sold
earlybird14 ( Date: 20-Jun-2014 14:10) Posted:
long term long term. Down to below 30cents, I doubt so.
DMG is in play what to do, a lot of disappointments will happen. They are holding insider news, they know what happen. How I wish Gallant is covered by DBS.
think2profit ( Date: 20-Jun-2014 12:04) Posted:
Too bad that the big boss sold, which has dampened the sentiment in Gallant. Those who were caught with too much shares earlier at > 35c should be unwinding without choice to clear the contra. May see 30c again...
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About Leongsan
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