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18-Feb-2014 17:27

China Fishery / China Fishery - Low PE

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Stockpiler, that is true and the other good news is Lafayette was deployed for GOOD that why Undercurrent reports ... otherwise not so free ... " According to Undercurrent News .... "

According to Undercurrent News sources, the Peru-flagged Enterprise, Pacific Champion, Pacific Conqueror, Pacific Hunter and Pacific Voyager, all authorized to fish in this year?s jack mackerel fishery by the South Pacific Regional Fisheries Management Organisation (SPRFMO), deliver their catch to Lafayette. Combined, these have been given gross tonnages of 8,300t for this year?s fishery.

Their core business is catching fish and 8,300t means $$$$$$$. Banks look at profitability. It is good news and result for the refinancing is no issue.

stockpicker ( Date: 18-Feb-2014 16:29) Posted:

What are the good news that has been released from under the pillow? The only good news released so far was they turned Copenica from losing to profit making. The known news was that the profits made just not good enough to pay back the loan until some 14 years later.

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18-Feb-2014 12:24

China Fishery / China Fishery - Low PE

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All these news are not new, just noises. Now, the good news are slowly being releases from under the pillow .... good catch of jack mackeral. Lafayette is being deployed ..... Heigh-ho, Heigh-ho ... bring in the catch. Stay vested for a longer term.

June 27, 2013, 8:51

Undercurrent News

Despite the revised offer of NOK 68.17 per share for Copeinca, Moody's Investors Service has maintained a negative ratings outlook for China Fishery.

This is based on the potential refinancing risk of the bridging loan being used to pay for the acquisition, as well as the regulatory uncertainties in China Fishery's Russian contract supply business, which will continue to contribute over 40% of the firm's revenues even after the Copeinca acquisition, it said.

China Fishery would have to successfully integrate Copeinca and diversify its earnings base, improve its liquidity and capital structure by repaying or refinancing the bridging loan facility, and then emerge from the Russian authorities' enquiries into operations there without suffering any financial loss, liquidity pressure, or loss of customers, before the investment advisor would consider changing the outlook to stable.

The ratings would come under pressure if China Fishery's revenues and profit decline substantially owing to integration challenges, or its liquidity deteriorates as a result of its failure to repay or refinance the bridging loan facility, Moody's added.

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18-Feb-2014 11:50

China Fishery / China Fishery - Low PE

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According to Undercurrent News sources, the Peru-flagged Enterprise, Pacific Champion, Pacific Conqueror, Pacific Hunter and Pacific Voyager, all authorized to fish in this year?s jack mackerel fishery by the South Pacific Regional Fisheries Management Organisation (SPRFMO), deliver their catch to Lafayette. Combined, these have been given gross tonnages of 8,300t for this year?s fishery.

In line with the News Release by China Fishery on 11 Feb 2014.

China Fishery benefits from Copeinca acquisition ? Q1 Profit after tax up 15.2%

? EBITDA increased 43% to US$63.3 million.

? The Group will continue to realise synergy in the coming fishing season in Peru.

EZ3626 ( Date: 18-Feb-2014 09:22) Posted:

Trying to make sense of what this article is all about .... why would Undercurrent reports " The world's largest fishing vessel, the factory freezer ship Lafayette, has turned up in the Pacific Ocean east of Australia." Big deal ???

It makes sense when you read the report before that. Now they are being deployed. Their Engine is moving / engaging ....

Asked about the reason for the impairment, China Fishery said it was due to temporary inactivity: ?Lafayette was not deployed for a period of time for the purpose of a class survey of the vessel,? a spokesperson told Undercurrent.

" Our strategy of acquisition and consolidation of business in Peru is translating into strong growth for the group," said China Fishery's managing director Ng Joo Siang in a statement, describing the fishmeal and oil operations as a " key growth engine" .

Blanchard ( Date: 17-Feb-2014 23:37) Posted:

The world's largest fishing vessel, the factory freezer ship Lafayette, has turned up in the Pacific Ocean east of Australia.

Satellite-tracking systems registered the location of the 49,000 tonne Lafayette and six attendant trawlers north-east of Norfolk Island on Friday, 14 Feb 14.

Pacific Andes said the ship was headed for the jack mackerel fishery, using prevailing currents to steam there economically.

''It is not taking on board fish in Australian waters,'' a Pacific Andes spokesman in Hong Kong said. ''It is not a fishing vessel and fishing quotas are set by the SPRFMO [South Pacific Regional Fisheries Management Organisation] for the catcher fishing vessels it supports, and those quotas are not exceeded.''

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18-Feb-2014 10:47

China Fishery / China Fishery - Low PE

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Earlybird14, you said " bad news are still under the pillow" and " don't look down on the impact of the 500m bridge loan" . Frankly I don't even bother about it because it is never an issue. The contract supply issue. Moody gave a moody speech ..... wow all the bad news are out.

I think you have the order reverse. It should be " All the bad news are out, good news are still under the pillow, it will surface soon !

earlybird14 ( Date: 17-Feb-2014 18:07) Posted:

just the 300M senior note with 9.75% interest had pulled China Fish to 50+cents level.

don't look down on the impact of this 500M bridge loan.

just stay away till this bridge loan is settled down.

Price cheap can be cheaper.

All good news are out, bad news are still under the pillow, it will surface soon!

edwinjup ( Date: 17-Feb-2014 17:50) Posted:

China fish is not an expensive counter....u all may hold for better future....once the loan settle...fish can fly..

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18-Feb-2014 00:02

China Fishery / China Fishery - Low PE

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Assets up on Copeinca acquisition, pollock prepayments

Despite the impairment on its fleet, China Fishery saw its asset value jump 80% (from $1.5bn to $2.77bn) during the year, in part due to its acquisition of Copeinca, and due to an increase in the asset value of its prepayment to pollock suppliers.

The acquisition, which cost China Fishery a total of $787.69m in cash, helped take the value of its fishing and plant permits up more than five-fold, from $233.8m to $1.222bn, while the value of its processing and fishing vessels has gone up to $264.38m, up from $236.6m.

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17-Feb-2014 16:07

China Fishery / China Fishery - Low PE

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Haha ... one hand 150 lots down 0.41. Just not ready for the march past.

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17-Feb-2014 16:05

China Fishery / China Fishery - Low PE

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Can't even cross 0.415 ..... probably tomorrow affair.

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17-Feb-2014 16:02

China Fishery / China Fishery - Low PE

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Newbie888, the parade is still ready for the inspection. They will announce when it is ready to do so. Woah Woah

newbie888 ( Date: 17-Feb-2014 01:21) Posted:

just wondering...if the debt is so bad that they are deem incapable of fulfilling their target of the bridge loan by march.. why are they still able to give out dividend? and the dividend does not drop too much from previous year given the number of shares have doubled... guess only time will tell if the acquisition is a good one... in the meantime just sit back and enjoy the roller coaster ride of the price...lol... cheers

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17-Feb-2014 09:15

China Fishery / China Fishery - Low PE

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We know this Fish is finger licking GOOD.

We need the boss to initiate the command " Ready for Inspection"

Rule no 1 " Boss is always Right" ..... just be patience

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17-Feb-2014 09:03

China Fishery / China Fishery - Low PE

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Newbie888, you are correct. We are waiting for someone to initiate the command " Prepare for Inspection" .

Then the march past can begin ..... Haha

newbie888 ( Date: 17-Feb-2014 01:21) Posted:

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17-Feb-2014 08:28

China Fishery / China Fishery - Low PE

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Exactly and that bring us back to Gyyy's question. China Fishery has benefited from Copeinca acquisition which we know is the most challenging feat. While the issue regarding refinancing is just for the bank to dispense the loan.

China Fishery has assured Moody that the loan is going to be ready. However, Moody has chosen to ignore it. " However, while China Fishery has indicated that it is in the process of securing refinancing for this, no binding agreement has been executed yet, said Moody?s "

Banks know about the acquisition, it is in the news " China Fishery Group Limited : China Fishery benefits from Copeinca acquisition ? Q1 Profit after tax up 15.2%"

I'm sure it will attract International Funds. Btw, CAP III-A, a wholly-owned subsidiary of Carlyle Asia Partners III is already one of them.

guoyanyunyan ( Date: 15-Feb-2014 08:43) Posted:

Acquisition of a significant equity interest in Copeinca ASA vs refinance the bridge load, which one is more challenging?

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16-Feb-2014 16:43

China Fishery / China Fishery - Low PE

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EZ, like that a lot of people also wants to sell before the xd. You have to hold the stock until the xd if you want to have the dividend.

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15-Feb-2014 12:28

China Fishery / China Fishery - Low PE

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Haha .... Flyfox we got your msg " ..... it's cheap considered that the price is really below book value" and " it's finger licking good"

Recently another stock Olam released their financial report. Olam hits by Q2 profit fall.... and posted a negative free cash flow of $282.2 million, a deterioration from a positive free cash flow of $46 million report a quarter earlier.However, Olam shares rose 2.6 per cent yesterday to $1.575 each, boosted by the positive outlook.

China Fishery " Our acquisition of Copeinca has enabled us to become a leading producer and exporter of fishmeal and fish oil in the world. This competitive advantage will stand us in strong stead to capture even greater growth opportunities in the industry as they emerge."

Even though China Fishery Group Limited : China Fishery benefits from Copeinca acquisition ? Q1 Profit after tax up 15.2%. China Fishery shares went down instead.

It is undeniable with what Flyfox said " ..... China Fishery is cheap considered that the price is really below book value"

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15-Feb-2014 11:38

China Fishery / China Fishery - Low PE

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Gyyy, exactly ... it took them years and months to plan and strategically acquired Copeinca ASA.

Dear Valued Investors,

On behalf of your Board of Directors (the " Board" ), I am pleased to deliver the annual report of PARD and its subsidiaries (the " Group" ) for the financial year ended 28 September 2013 (" FY2013" ).

Our successful acquisition of the Peruvian fishing and fishmeal company, Copeinca ASA (" Copeinca" ) during FY2013 represents an important strategic step to reinforce our position as a global leader in the sourcing, processing, distribution and sales of fish products. Having a leading position in the largest fishery in the world, the Peruvian Anchovy fishery presents a long-term value proposition to our Group, and we look forward to the contribution Copeinca will make in the years to come.

In executing this landmark acquisition, we participated in the rights issue by our Singapore-listed subsidiary China Fishery Group Limited (" China Fishery" ) to partially fund this transaction. The successful acquisition represents a transformative step to elevate China Fishery to become Peru's, and one of the world's largest producers of fishmeal and fish oil.

Our strategic priority for FY2014 is to augment and harness the synergies that we now have within our enlarged businesses. I am confident that our stronger earnings base and new growth impetus will enable us to deliver higher sustained earnings.

Haha, Gyyy guess this is not what they wanted to talk about " Successful or Landmark Acquisition" rather " Refinancing the Bridging Loan" so they can lower the entry price.

Remember if in doubt refer to rule no 1, " The boss is always Right"

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15-Feb-2014 00:38

China Fishery / China Fishery - Low PE

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Bro, I beg to differ. On the contrary, market is attract to / like China Fishery. However, they prefer a lower entry price. In order to do that, between S& P and Moody, they decide to use Moody. Why ???Because they needed someone who is moody to comment on the rating of China Fishery.

Of all the methods to assess China Fishery, Moody being moody chose to focus on loan and debt instead of the value of China Fishery. Even though there is no issue with the loan, they decide to make it an issue.

" However, while China Fishery has indicated that it is in the process of securing refinancing for this, no binding agreement has been executed yet, said Moody's" They have forgotten who is China Fishery No 2 substantial shareholder, CAP III-A is a wholly-owned subsidiary of Carlyle Asia Partners III.

" In its review Moody's will focus on China Fishery's ability to secure refinancing for repayment of the bridge loan and debt associated with the integration of Copeinca in the near term, and the availability of additional headroom in the refinancing to comply with covenants. The principal methodology used in these ratings was the Global Protein and Agriculture Industry published in May 2013."

Even Flyfox can see that China Fishery is cheap " ..... it's cheap considered that the price is really below book value" . He must be so exasperated that he has to say " REALLY" ... I am not bluffing you it is cheap

Can you imagine someone bought a house for $1m and it is worth $10m now. Instead of saying it is so cheap $1m with a value of $10m, the valuer decide to look at the debt ... you still owe $800,000 on the property when the worth is now $10,000,000. I can understand how you feel ... exasperated right until you have to say " REALLY CHEAP" .... I never bluff you ... you know it is cheap, very cheap. The valuer stupid arh cannot see .... ok relax, bro relax ok

What to do .. they are the boss. Please refer to rule no 1 " They still the boss" . They called the moody guy to comment .... don't you know

In conclusion, talk so much must conclude " Market really like China Fishery because it is Finger licking GOOD"

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13-Feb-2014 12:23

China Fishery / China Fishery - Low PE

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Guess we are too consumed by all the noises. Before the CNY comes to a close, let me wish all

马年有鱼

Huat Ah !!!

Blanchard ( Date: 30-Jan-2014 12:53) Posted:

马年有鱼喜庆素材素材下载

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12-Feb-2014 09:34

China Fishery / China Fishery - Low PE

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S69, this is a Buying Opportunity. Those who are able to ride this wave will laugh all the way to the bank.

BB is indeed very attractive. Now waiting for them to announce the dividend. Cheerio

SLPY69 ( Date: 12-Feb-2014 09:21) Posted:

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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25-Jan-2014 23:26

Hyflux / Hyflux

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I see more green, more likely there is going to be a break- out soon .... Huat Ah !!!

guoyanyunyan ( Date: 11-Dec-2013 09:49) Posted:

Hyflux: Bearish Setup!

Author: stistocktrading

Bearish Signal: Descending triangle in formation awaiting for high volume breakdown!

Entry price: $1.14 with volume exceeding 0.6 million by 12pm!

Stop loss: $1.2

Profit target: $1.045

Rewards to risk ratio: 1.6

...last: $1.145...

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21-Jan-2014 12:41

China Fishery / China Fishery - Low PE

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Are you saying that their projection is too conservative ??? It should be around $1 ....

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21-Jan-2014 12:29

China Fishery / China Fishery - Low PE

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Some analysts' report. Anyway it serves as a guide only. My opinion is 20-30% is pretty decent.

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