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The pattern is there .... I believe when the next announcement is out, this BB will be energised.
Just thinking why ....
Chinese fund Fosun would pay $950m for Diamante
" Our position regarding Diamante is very serious, we are willing to do whatever is necessary to get hold of it and sign an agreement for its 100%. This is our aim, or at least a share package sufficient to run the fishing company," said Torres.
" We think our final proposal will be ready by the end of the month or the fist week of April. We have no problems of financial leverage because our cash is here. Fosun already set an investment pot of some $3 billion only for Peru," Torres noted in his conversation with Gestion.
The NOK 4.786 billion ($806m) acquisition of Copeinca will make China Fishery Peru's, and one of the world's, largest fishmeal producers. Combined, the two companies will control 16.9% of fishing quotas in north and central Peru, putting them ahead of TASA, which is today the leader with 14.1%.
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No much of an expert, looking at the chart and pattern of the BB ... resemble the movement on 5 February ... see for yourself.
Time to go in ...
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CHINA FISHERY GROUP To Terminate Supply Agreements With Alatir And Perun
3/24/2014 12:04 AM ET
CHINA FISHERY GROUP LIMITED announced it has entered into addenda with Alatir and Perun to terminate: long Term Supply Agreement dated 16 July 2012 between CFIL and Alatir Long Term Supply Agreement dated 16 July 2012 between CFIL, Alatir and Perun and Long Term Supply Agreement dated 14 November 2012 between CFIL and Perun. The amount of prepaid fixed price that CFIL shall be entitled to refund from Perun after termination of the Perun LSA is US$137.5 million.
The company said the rationale for the termination of the LSA is that it will enable the company to re-deploy significant capital which is currently tied up in prepayments under the LSA. The company does not believe that the termination will have any material impact on its operations as the Group will continue to obtain supply of fish from its suppliers including but not limited to Alatir and Perun.
by RTT Staff Writer
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We are days away from the announcement .... is a question of when they are going to announce it.
" The company continues to generate cash flows and therefore it's less likely for the bridge-loan lenders to pull the credit line at this moment," Lim Su Aik, an analyst at Fitch, said in a Feb. 27 interview in Singapore.
Liquidity wise, from what they announced, they seem very confident that they have the necessary financial backing. I think it was said somewhere where the refinancing isn't a problem since some of the banks providing the refinancing were also involved in the bridging loan also or something along that lines.
Saving grace for Olam is Temasek Holdings and for Greater China Fishery ..... Carlyle Group. Is there any wonder why all the Independent Directors defended Carlyle when the minority shareholders felt unfair that the warrants was awarded to them. I'm sure they have been contributing to the success of Copeinca's Acquisition. Just look at the price tag Fosun is willing to pay for a lesser company Diamante as compared to Copeinca.
Skylinr has provided the link http://en.wikipedia.org/wiki/The_Carlyle_Group
Sometimes the obvious is right in front of us, but we are always waiting for someone to take the plunge ...
According to reports, foreign funds are surging back into this region .... I am sure they will be looking for stocks that are attractive. Greater China Fishery is attractive and undervalued.  Cheers
Skylinr ( Date: 20-Mar-2014 00:14) Posted:
My understanding is that it is a compulsory acquisition as they already owned almost all of the shares. Give the remaining few shareholders an opportunity to liquidate their shares. So its more to meet their legal requirements. I believe they already took this into account when acquiring Copeinca, so nothing additional on their part.
Liquidity wise, from what they announced, they seem very confident that they have the necessary financial backing. I think it was said somewhere where the refinancing isn't a problem since some of the banks providing the refinancing were also involved in the bridging loan also or something along that lines.
China Fishery aside, our fellow investor Carlyle Group is quite an interesting company to read up on. Just for reading purposes for those who haven't 
All the best to all vested! 
newbie888 ( Date: 19-Mar-2014 22:58) Posted:
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does this goes to show that they are still financially sound |
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Flyfox, it is waiting to be announced. China Fishery to delist Copeinca Pacific Andes? fishing subsidiary China Fishery Group said it will delist Copeinca from the Oslo stock exchange, after having acquired 100% control over the Peruvian fishmeal producer. Funds to secure settlement under the compulsory acquisition have been placed with an Oslo bank in accordance with the regulatory requirements, the company said.
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Bet to differ, it is a choice that they have made to integrate Copeinca. As mentioned in the article, they have plan to integrate the operation before the start of the year 's first Peruvian anchovy in April/May.
Delisting of Copeinca give them flexibility to do so as the season is about to start. Stay vested as more news are being announced.
JMS213 ( Date: 17-Mar-2014 20:27) Posted:
China Fisheries & Seafood Expo returns to Qingdao this year. Finding space to accommodate more exhibitors will be a bigger challenge than ever! " The Qingdao convention center has built a new hall for this year's show, but exhibit space will still be about the same as last year in Dalian and we had to turn down companies that wanted to exhibit." says Jennie Fu, marketing manager for China Fisheries & Seafood Expo. " I'm afraid that we'll have to turn down even more companies this year."
Start of fishing season is here ..... China Fisheries and Seafood Expo sets record again, this time a remarkable 30% from last year
JMS213 ( Date: 24-Feb-2014 11:49) Posted:
February 11, 2014, 9:30 am China Fishery Group said it expects to integrate its newly acquired fishmeal and oil operations in Peru, Copeinca, before the start of the year?s first Peruvian anchovy season in April/May. " The group expects to integrate its enlarged fishmeal and fish oil operations during the second quarter of FY2014 [January to end March 2014]," said the company in its latest quarterly report. This will allow it " to fully benefit from synergies arising from the acquisition of Copeinca when the 2014 first fishing season commences in April/May 2014" , it said. The company added it plans to refinance the $354 million bridge loan it raised to finance the acquisition within the first three months of 2014. |
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WOW .... 30% increase in demand compared to last year is definitely very significant. No wonder Chinese and Korean funds are wanting to acquire Diamante, 3 largest fishing group in Peru at price tag that is higher than Copeinca which is larger than Diamante in Peru. The Peruvian anchovy fishing season will greatly benefits the Greater China Fishery for the second FY 2014. Not only that, ..... this acquisition by Fosun is going to be exciting.
Chinese fund Fosun would pay $950m for Diamante
" We think our final proposal (Diamante) will be ready by the end of the month or the first week of April.
Fosun Group, a Chinese equity fund listed on the Hong Kong stock market, said it is already immersed in advanced negotiations with the Ribaudo family to buy up the Peruvian fishing company Diamante. In an interview with the business daily Gestion, Fosun's representative in Lima, lawyer Cesar Torres, assured the asset manager talks to Credit Suisse, the intermediary chosen by Diamante's proprietors, and seeks to own 100% of the corporation's shares or a stake high enough to control the seafood business. " Our position regarding Diamante is very serious, we are willing to do whatever is necessary to get hold of it and sign an agreement for its 100%. This is our aim, or at least a share package sufficient to run the fishing company," said Torres. The broker acknowledged that there was another investment platform interested in Diamante, but said he felt confident about Fosun's bet, which could use as much as $950 million as a reference figure from the Copeinca deal. " We think our final proposal will be ready by the end of the month or the first week of April. We have no problems of financial leverage because our cash is here. Fosun already set an investment pot of some $3 billion only for Peru," Torres noted in his conversation with Gestion. Fosun is operated by billionaire Guo Guangchang, and is present in the construction, insurance, pharmaceutics and mining industries in China. |
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I have received mine ... haha first time getting dividend. Cheers
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I thought the dividend payout is on the 7 March. I just checked ... it is not in yet ? When are they suppose to do it ? Thanks
newbie888 ( Date: 02-Mar-2014 18:50) Posted:
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hi, may I know when will the dividend be credited into our bank account? I just check my account and realize the dividend is not in yet...
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Hello Blanchard, have you abandoned the group. I have found an article about China Fishery refinancing.
http://www.globalcapital.com/article/k5cjgjr6yywk/five-clubbing-china-fishery-650m-bridge-refinancing
Five clubbing China Fishery $650m bridge refinancing
China fishery Group is in talks with a group of five banks
for a $650m financing, as it looks to refinance a bridge loan maruring on
February 26. By Rashmi Kumar 21 Feb 2014
Citic Bank International, DBS, HSBC, Rabobank and Standard Chartered
are providing the funds as a club, according to a banker on the deal.
The loan will be split between a $100m one year bridge, a
$450m four year term loan and a $100m four year revolver, he ?..
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When the reversal takes place, those who have shouted to short will have to take cover. Just wait the moment of truth will come.
Stay vested.
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The track record of Carlyle Group is key to this group. If they are cow boy, we should be worried. Even when the price plunged they remain committed to the BB and look set to increase their stake in the company.
This is a window of opportunity. Vested @ 0.38 will load up if necessary. Cheers
newbie888 ( Date: 04-Mar-2014 00:29) Posted:
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just hold for a few years and see where it takes me to....yea... |
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Patience and hold steady .... it is a matter of time. China Fishery is backed by private firm Carlyle Group LP. They have a sterling return on investment last 2013. I am sure they must have done their homework and highly committed in Greater China Fishery Group. Carlyle Group has Mr Patrick as a Non-Executive Director, a member of Audit and Risk Management, Investment Committee and Corporate Social Responsibility Committee. Mr Patrick Thomas Siewert (Non-Executive Director)
MR PATRICK THOMAS SIEWERT 58, was appointed as a Non-Executive Director of the Company on July 28, 2010 and was last re-elected as a Director on January 28, 2013. Mr Siewert is also a member of the Audit and Risk Management Committee, Investment Committee and Corporate Social Responsibility Committee. He is a managing director of the Carlyle Group, focused on investments in consumer and retail businesses across Asia since April 2007. Prior to joining the Carlyle Group, Mr Siewert held various positions in Asia including group president and president and chief operating officer and corporate executive committee member of the Coca-Cola Company during the period from 2001 to 2007. China Fishery is " making progress" on refinancing the bridge loan, Finance Director Chan Tak Hei said by phone from Hong Kong on Feb. 27, declining to elaborate citing disclosure rules. The company aims to complete the refinancing this month, according to a Feb. 11 stock exchange filing.
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China Fishery, backed by private equity firm Carlyle Group LP, had $578 million of debt at the end of 2013 which may have to be repaid within 12 months, according to an exchange filing.
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Bro, are you trying " shout the loudest win" ? How about this, you scamper to cover your position and we buy along with you ? You left out this permutation, you buy we buy ....
Anyway, I understand Malaysia is hoping for rain and rationing water, Singapore Botanic Garden pond also going to dry up. We are needing rain .... will pray for rain to come ....
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Haha I am a newbie ... but from all the chats .... you zha lak liao you must have shorted the BB. You better hope the reinforcement don't come in so soon, otherwise you have to scamper to take cover. Be like panda ...
Most investors are paper loss now .... good days for China Fishery.
earlybird14 ( Date: 25-Feb-2014 10:26) Posted:
XD today, go back to where it is.
Be patient to wait, 3 month to next earning, the financing issue will dump this fish down to 35cents, best price to load again if it reach this level. |
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BB is supported and they need to push it up to 52 cts. The sky is clearing and good days ahead for everyone. Looking at the recent report by Fitch, CF should be making further announcement to the shareholders.
Thanks for the sharing.
srichipan ( Date: 24-Feb-2014 21:50) Posted:
nice sharing. thanks. this one got bb support. no worries. THEY NEED TO PUSH IT UP TO 52 cents
JMS213 ( Date: 24-Feb-2014 21:29) Posted:
Stockpicker, well said. For Fitch to downgrade CF's rating on 3 Dec 2012 & 4 July 13, is a matter of fact,considering the size of the acquisition. Fitch said it aptly " China's Fishery's credit profile has weakenedfollowing the acquisition of Copeinca ASA" ... it is matter of fact, any acquisition of this magnitude would have weakened the company.
Yesterday, the whole article by Fitch, is a resounding " YES" [Positive] and an affirmation of China Fishery's success in their acquisition.
I am sure, they cannot be too quick to UP the rating just in 1 quarter " Pacific Andes' Q1 results lifted by subsidiary China Fishery" . However, they did indicate that the next quarter " higher inventory will support stronger sales and operating cash generation in 2QFY14 than in 1QFY14."
(The following statement was released by the rating agency) SINGAPORE, February 23 (Fitch) Fitch Ratings says that China Fishery Group Limited (China Fishery BB-/Negative) has adequate liquidity to manage its higher refinancing needs in 2014 due to continued bank support and likely higher operating cash flow generation. The company indicated at a regular briefing with Fitch that it is on track with its efforts to refinance its bridge loan as well as other borrowings that fall due this year. In its 2013 annual report, the company said the USD356m bridge loan will be refinanced with medium- to long-term bank loans. Fitch is also of the view the fact that the providers of the bridge loan are among the banks in line to participate in the refinancing exercise means the company likely has room to manoeuvre on the loan repayment. China Fishery's operating cash flow remains healthy as reflected in the USD61m funds from operations it generated in its fiscal first quarter that ended December 2013 (1QFY14). The increase in its inventory to USD199m in 1QFY14 from USD98m in the whole of FY13 was helped by its successful catch in the just-concluded Peruvian anchovy fishing season (November 2013-January 2014). The higher inventory will support stronger sales and operating cash generation in 2QFY14 than in 1QFY14. China's Fishery's credit profile has weakened following the acquisition of Copeinca ASA for USD778m in August 2013. The Negative Outlook on the company's ratings reflects its elevated risk profile following this transaction. [Matter of Fact]
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Question : If CF can acquire Copeinca, can they do the same by buying up the remaining shares (which is less than 20%) in the market since almost all experts said CF is so attractive ?
If that case, those who are holding to the share will have tremendous gain just like Copeinca shareholders. Is it ?
The larger or greater Copeinca has brought tremendous profits and benefits to CF just 1 Qtr alone. Once they buy over CF remaining shareholders, they can officially named as Copeinca.
Can someone please share your view .... thks
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With all the noises, we must have missed out on what Supermonkey has to say ...
SuperMonkey ( Date: 11-Feb-2014 11:05) Posted:
Del Monte Pacific? The story is the same as in acquisition of something else which is huge. Del Monte buying Del Monte USA food.
I notice after completion of acquisition , china fishery share price goes up and up. Del Monte too? similar? |
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During the AGM & EGM, the management has mentioned that they will be staying out of that Russian region and focus in Peru which is bearing fruits and contributed to the increase 56.5% for the 1QFY2014.
Today with all the confusion, it presents a tremendous great buying opportunity afterall the valuation of the company is so attractive. Read the report below
http://www.4-traders.com/CHINA-FISHERY-GROUP-LIMIT
n 1QFY2014, gross profit increased by 56.5% to US$44.3 million from US$28.3 million. EBITDA increased by 43.1% to US$63.3 million from US$44.2 million.
Ng Joo Siang, Group Managing Director, said: " Our strategy of acquisition and consolidation of business in Peru is translating into strong growth for the Group. We will continue to integrate our enlarged fishmeal operations during the second quarter of FY2014 to realise the full benefit from the synergies from our acquisition of Copeinca when the 2014 first season commences in April/May 2014. We are confident of profitability continuing into the next quarter."
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earlybird14 ( Date: 11-Feb-2014 17:15) Posted:
Revenue from the Contract Supply Business, which accounted for 40.6% of total revenue, retreated 34.3% from US$89.7 million to US$58.9 million on the back of lower sales volume.
Big question about the sustainability of China Fish. Impairment loss will be recorded in Contract Supply Business. |
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