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03-May-2016 20:27

China Fishery / China Fishery - Low PE

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I think logically they will try to sell shares in the cfish.Its a question of how to value the fleet with that white elephant

Observers ( Date: 03-May-2016 19:43) Posted:

I believe after CFG repaid its own bonds and liabilities, PARD will also have their own bonds/loans to pay. CFG will probably have to issue capital reduction to all shareholders to enable the repayment at PARD level.

Also are there bonds/loans to repay at HK listed holding company Pac Andes International? If so, PARD may also have to do a similar capital reduction.

Of course all this on the assumption that there is actually some thing left over after the sale of the Peruvian assets.

Qanghoo ( Date: 03-May-2016 14:56) Posted:

Think they shd return cash to shareholders n close shop since core business all stripped off.

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03-May-2016 12:07

China Fishery / China Fishery - Low PE

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Defaulted. Payable now on demand

johnnywalker ( Date: 03-May-2016 11:26) Posted:

The current price for the bonds only matures in 2019. It may go higher or lower nobody can tell. Depends on direction of company.

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03-May-2016 10:51

China Fishery / China Fishery - Low PE

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100% plus accrued interest return almost 100% in a short time.Is it not suspended?

Qanghoo ( Date: 02-May-2016 20:51) Posted:

What abt looking from the angle that they are hoping to be paid 100% but keeping a lid on the px to buy as cheap as possible to make as much as they can?

Leongsan ( Date: 02-May-2016 19:23) Posted:

Secured creditors get paid first. Bank and bond get paid 100% plus interest etc,. If you are saying that bond at 69, then the market dont believe the share is worth anything. Logical?

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02-May-2016 19:23

China Fishery / China Fishery - Low PE

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Secured creditors get paid first. Bank and bond get paid 100% plus interest etc,. If you are saying that bond at 69, then the market dont believe the share is worth anything. Logical?

johnnywalker ( Date: 02-May-2016 18:44) Posted:

Bond is for China Fish only. CFG is the main revenue driver. How can the bond be above 100 then considered CFG price?

Leongsan ( Date: 02-May-2016 10:29) Posted:

Which bond your price relate to. ? CFish or PacAndes? You should be looking at Pac Andes. If you are looking a price above zero for cfish shares cfish bonds should be 100 logically,

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02-May-2016 10:29

China Fishery / China Fishery - Low PE

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Which bond your price relate to. ? CFish or PacAndes? You should be looking at Pac Andes. If you are looking a price above zero for cfish shares cfish bonds should be 100 logically,

pattanispirit ( Date: 01-May-2016 18:35) Posted:

Never know many transaction, how u see the transacted volume ?

johnnywalker ( Date: 01-May-2016 17:55) Posted:

Bond price now is 67.75 - 69.125, shot up after the latest update from China Fishery

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15-Jan-2016 02:48

China Fishery / China Fishery - Low PE

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I think they will suspend till the sale is negotiated,

Isolator ( Date: 14-Jan-2016 23:20) Posted:

Prepare for the gap up when resume... Enjoy...

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13-Jan-2016 08:42

China Fishery / China Fishery - Low PE

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Carlyle? Still got the warrants

Observers ( Date: 11-Jan-2016 10:28) Posted:

If the USD 1.7 billion deal is real, then maybe some of these loyal small fries who supported and believed in the company, and subscribed to every single rights issue will finally be rewarded? The very last rights had an issue price of 17.3 cents per share.

Qanghoo ( Date: 11-Jan-2016 09:31) Posted:

Yep, that' s why I say they are really terrible. List coys here n use them as vehicles to suck small fries dry.

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11-Jan-2016 08:46

China Fishery / China Fishery - Low PE

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I think they may have collected most of the free float. Looking back. Those below 1m shares info pre rights only 7%

Qanghoo ( Date: 11-Jan-2016 06:40) Posted:

I wish those vested all the best. Got out cos of the sick major shareholders. But for those who stayed the course, they deserve to be rewarded.

speed88 ( Date: 10-Jan-2016 22:13) Posted:

Seems to be for the Peruvian biz only. I have some holding bought prior to the suspension. Followed some smart money but ended up suspended. Originally wrote off the amount already but now coming back alive if the deal is real. Last done 7.6c only. If deal truly materalized, then those bought 10c and below will huat big time. Watch the bond price next few days for sign.....

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09-Jan-2016 09:23

China Fishery / China Fishery - Low PE

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Should it not be NAV plus profit or loss on sale of Peru assets?

PARD also has loans and notes which need to be paid. So is the holding company and the Ngs?

Why is HSBC appearing to be so anti NGs. The other banks.DBS Citic and Rabo, I think, are more supportive.

My guess S 60 to 80 cents about there.

Do you think share has little free float and cornered?

The US$1.7 bil price is fair I think. They paid US$800 for Copeinca, plus US$250m notes.for 10%quota, The other old 7% at same price =

China need this resource badly for piglets and food. Aqua culture is being replaced by plant feed Omega 6 not 3 in farm bred salmon that are not ocean going

nngeeh ( Date: 09-Jan-2016 00:08) Posted:

Thanks Bro.

Question,

Are you adding NAV + Liability + Balance to get 85.2? Shouldn' t it be NAV - Liability, right? Secondly, most of the NAV comprises of the Peru asset which will be sold. After selling Peru, i don' t think there is much left in the other assets. i think it should be NAV = Offer(Peru asset) - liability?

Qanghoo ( Date: 08-Jan-2016 22:33) Posted:

Brother, apologies I double counted. Bro ysh is correct. Rough com below (US cts) :

NAV = 39

Lia/sh = 32.6

Bal fr sale/sh = 13.6

Total = 85.2 (SGD 1.22)

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08-Jan-2016 09:56

China Fishery / China Fishery - Low PE

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How you come to the conclusion of $1.30? Please share

ysh2006 ( Date: 06-Jan-2016 10:22) Posted:

Wow if it is true China Fish after opening can shoot to $1.30 boh... Those investors still holding will be laughting to bank leh...

Observers ( Date: 06-Jan-2016 07:57) Posted:

After having halted for so long, I' m pretty certain most traders have had their positions squared, off market deals or otherwise.

Anyway, there' s an interesting article for long term shareholders on Undercurrent. Cut and paste just a portion.

https://www.undercurrentnews.com/2016/01/05/sources-china-giants-likely-bidders-for-pacific-andes-peru-assets/

Sources: China giants likely bidders for Pacific Andes Peru assets

January 5, 2016, 10:16 am

Tom Seaman and Alicia Villegas

Large Chinese companies in animal feed and commodities are some of the few players likely to be willing to pay as much as $1.7 billion for the Peruvian assets of Pacific Andes International Holdings, sources told Undercurrent News.

This price tag, which was revealed by Pacific Andes as it attempts to end the provisional liquidation of China Fishery Group (for all our news on this ongoing story, click here) put in motion by lender HSBC, is considered to be very high by industry sources and analysts covering the sector, given the tough situation in the Peruvian industry.

&ldquo They are dreaming at $1.7bn,&rdquo one industry source, not wishing to be quoted by name, told Undercurrent.

In 2013, Pacific Andes&rsquo China Fishery operation took over Copeinca for just under $800 million, fighting off Norway&rsquo s Cermaq. Since, catches in Peru have dived and the total allowable catch has been slashed, due to the impact of El Nino.

&ldquo Maybe they will get what they paid [for Copeinca],&rdquo source A said.

" If the valuations are correct, it must be a company of significant substance, $1.7bn is a lot of money. The number of potential bidders is small,and very few are able to cash such a large check," said another top seafood sector CEO, also not wishing to be quoted by name.

Pacific Andes has stated the supposed $1.7bn valuation, but did not reveal any more details of the two would-be bidders. Cash rich and expansionist companies in China, however, may be willing to go this high.

&ldquo In China, you have a few options,&rdquo said one senior executive with a large aquaculture feed company, who did not wish to be quoted by name (source B).

There is limited interest for large companies involved in aqua feed only, such as Nutreco-owned Skretting or BioMar, due to the reduced levels of fishmeal going into aqua feed, said source B.

&ldquo If the price goes up, we can drop using fishmeal in salmon feed, or using very much less,&rdquo said the executive.

Much lower levels of fishmeal, down to 10%, can be used in salmon feed, he said. &ldquo We can go less than that in the future. So, for us, it [fishmeal] is no longer a strategic raw material."

Therefore, securing a source is not as critical as it used to be, he said.

" For very large animal feed companies, it remains a serious issue, also, because these big companies are trading fishmeal to others as a commodity," said source B.

Although there is more logic for Ewos owner Cargill, which is more active in other animal feed sectors, sources feel the focus for the US company is on integrating its most recent acquisition in salmon feed.

On the other hand, big Chinese feed firms, such as New Hope Liuhe or Tongwei Group, are looking to expand in aqua feed and also have large needs for fishmeal for poultry and livestock feed.

&ldquo A lot of fishmeal is not going into aquaculture, it is going into other types of feed, like piglet feed,&rdquo said source B.

&ldquo New Hope or Tongwei could be interested, as well as DBN Group [Beijing Dabei Nong Technology Group],&rdquo he said.

A note from Amino Acids China E-News on the Chinese feed sector states DBN Group established an aquatic business department at the start of last year and is looking to expand fast.

&ldquo At present, the firm has seven aquatic feed plants across the country, and will look to increase this number in 2015 by constructing new plants, merging with other companies and acquiring existing plants,&rdquo the note states.

In total, DBN Group will invest around RMB 2bn in the aquatic market, aiming to achieve a sales volume of 400,000 metric tons, CCM&rsquo s analysis states. &ldquo Beyond that, the company will look to open at least two new aquatic feed processing plants every year.&rdquo

Tongwei has also been expanding, inking a deal for a 100,000t feed factory in China in partnership with BioMar last year. It already operates across China and in Southeast Asia, with over 100 branches and subsidiaries.

The company produced some 4m tons of feed in 2014, of which 2.5m tons were for the aquaculture sector. According to BioMar' s press release on the joint venture, this makes Tongwei the world&rsquo s largest aquafeed manufacturer, as well as a major livestock and poultry feed producer.

According to Amino Acids China E-News, New Hope also has big expansion plans. According to the note, the company' s &ldquo first aim [is] to expand within Asia, and if this is successful, it will aggressively expand on a global scale&rdquo .

New Hope has split the department dealing with overseas business in two, making one half responsible for business development in Asia, and the other half responsible for business development in countries outside Asia, according to the note. New Hope has already established 47 subsidiaries in Southeast Asia since it first entered the market in 1998.

China National Cereals, Oils and Foodstuffs Corporation (Cofco), a state owned commodities trading giant, as well as one of China&rsquo s largest food processors, could also be interested, sources told Undercurrent.

&ldquo Tongwei, New Hope and DBN have a lot of cash and want to go into aquaculture,&rdquo said source B.

&ldquo But, from a commodities point of view, you have to mention Cofco. They want to secure commodities,&rdquo he said. &ldquo They are buying farmland and grain trading, so why not fishmeal? If China believes that fishmeal is a strategic ingredient for them, they could very well get hold on that.&rdquo

On Jan. 4, Cofco closed the deal for the 49% it didn&rsquo t already own of agricultural trading firm Noble Agri from Noble Group for $750m.

&ldquo The acquisition will greatly accelerate COFCO&rsquo s internationalization and global positioning,&rdquo said Frank Gaoning Ning, chairman of Cofco, making the group&rsquo s ambitions of expansion clear.

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21-Sep-2015 21:20

Olam Intl / OLAM_OLAM

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change year end to follow temasek

sun233 ( Date: 20-Sep-2015 15:30) Posted:

NEXT AGM SHOULD BE SOMETIME IN OCT. LET' S HOPE THEY WILL AGREE TO BUY US OUT.

20th Annual General Meeting &ndash Oct 30, 2014

19th Annual General Meeting &ndash Oct 30, 2013

Extraordinary General Meeting &ndash Jan 15, 2013

18th Annual General Meeting &ndash Oct 31, 2012

17th Annual General Meeting &ndash Oct 28, 2011

16th Annual General Meeting &ndash Oct 28, 2010

Extraordinary General Meeting &ndash Oct 29, 2009

15th Annual General Meeting &ndash Oct 29, 2009

Extraordinary General Meeting &ndash Jun 29, 2009

14th Annual General Meeting &ndash Oct 29, 2008

13th Annual General Meeting &ndash Oct 29, 2007

12th Annual General Meeting &ndash Oct 30, 2006

11th Annual General Meeting &ndash Oct 28, 2005

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18-Aug-2015 19:53

China Fishery / China Fishery - Low PE

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Wait el nino will be clearer.

let him play with dead fishes or playing with himsef?

Qanghoo ( Date: 18-Aug-2015 10:45) Posted:

This is another one. Keep falling day after day like a bottomless pit, not even a chance of a technical rebound. N it' s happening when the coy is turning around. See how mkt here operates? When there was so much uncertainty, px kept pumping up n probably a lot of retail suckers hopping it. Now with much of the uncertainty behind it (baring EN) there seem to be no end to the fall. For the benefit of those who might have missed, the coy has indicated that it has caught it' s full Peruvian anchovy quota for the A fishing season which can be processed into 150k tons of fishmeal. At an estimated gross profit of USD300/ton, gross profit' s gonna be 45 mil USD or 63 mil SD. But investors are well advised to be careful cos u may still be catching that falling knife.

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04-Jun-2015 15:40

China Fishery / China Fishery - Low PE

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Peru

During week 21, volumes of anchovies landed by the industrial fleet reported 266,823 tonnes. So far in the year, catch volumes reported 2,133,632 tonnes.

Graph 1: Weekly catch volumes of anchoveta,
years 2011 &ndash 2015, in tonnes

Source: IMARPE and FIS.com

Leongsan ( Date: 26-May-2015 08:40) Posted:

QUOTA METER MAY 24th....BAL QUOTA LEFT 516,364 MT ....20.01 %

drogba_78 ( Date: 25-May-2015 22:28) Posted:

this stock fierce go up so much

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26-May-2015 08:40

China Fishery / China Fishery - Low PE

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QUOTA METER MAY 24th....BAL QUOTA LEFT 516,364 MT ....20.01 %

drogba_78 ( Date: 25-May-2015 22:28) Posted:

this stock fierce go up so much

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23-May-2015 02:13

China Fishery / China Fishery - Low PE

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recent cash collected from rights for copeinca. first rights 34 recent 17,3 not price that came down from

stockpicker ( Date: 22-May-2015 19:12) Posted:

Can' t help but noticed that you use 34cts when the price was about 26 cts before the right announcement. Anyway, valuation if any should primary based on earnings. The recent price hike was because of the increase in fish catch but it is expected to at least 2 good years to make up for the losts last year. Before considering a good year ahead, read this..

http://www.theweathernetwork.com/news/articles/risk-of-new-global-warming-plateau-rising-with-el-nino-2015/51382/

Leongsan Member	20-May-2015 09:42 About Leongsan Contact Quote!
x 0 x 0 Alert Admin	recent cash collected from rights for copinca. 34cents plus 0.8of 17.3=47.84cents /1.8shares =26.58 cents.

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20-May-2015 09:42

China Fishery / China Fishery - Low PE

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recent cash collected from rights for copinca. 34cents plus 0.8of 17.3=47.84cents /1.8shares =26.58 cents.

Zenith154 ( Date: 20-May-2015 09:29) Posted:

I don't think the fishy price movements are of significant importance as of now. The market will follow fundamentals when the earnings report comes out or move even before it comes out. The last earnings report that came out provides us with a high chance that the next report's net profit will be significantly higher. Furthermore the debt that has been undertaken to acquire Copeinca has already been discounted though all the price drops as you mentioned. Hence I believe most negative factors that have turned many investors away are already discounted at the current share price. Look for the higher profits with the 23 million reduction in interest payments, higher fishmeal prices and higher volume of sales.

Qanghoo ( Date: 19-May-2015 16:58) Posted:

Px tanked to 17c+ after sometime after the refund from LSA was announced. Copeinca purchased actually saddled CFG with a mountain of debt. The refund from LSA (known much earlier) n rights will help reduce debt. To me px tank cos rights was issued at 17c. A wk before rights was announced, px was abt 32 - 33c. Then I think one or two days before announcement px dropped to around 26. So, likely there was trading on insider news. After that, there was relentless selling down to abt 17c+. Then px started u-turning even before 2q results. Don' t get me wrong. I always thought long-term, CPF' s prospects are good. But the way share px movements were going smells very fishy indeed.

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18-May-2015 08:57

China Fishery / China Fishery - Low PE

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QUOTA LEFT 935,379 MT .....36.25% week #19 landings in N/C @ 252,517 MT south region fishing continues poor week #19 @ 359 MT.

Still ok meal price high

stockpicker ( Date: 17-May-2015 19:24) Posted:

the catch wasn' t good last week. Understand it was not also good this week. may be affected by El-Nino

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13-May-2015 10:25

China Fishery / China Fishery - Low PE

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NAV etd look up the rights docs. Main issue is how much fish they are catching,If fishing ok and 2nd season ok, fundamentals should support 45 to 50 cents. Debts reduced. Still the question who has collected and taken over carlyle rights ? will they play?

Qanghoo ( Date: 13-May-2015 10:02) Posted:

CFG NAV now S$53c, PA S$26c. I think they still use the share base prior to rights to compute which is wrong. I' m vested (vormited out sometime ago, but swallowed back two days ago), but think useful to set the record straight for forumers. Not to worry though, cos this fish has probably swum out of troubled waters finally. Debt level shd fall further with more refunds to come from LSA n better profits next few qtrs. Only worry that El Ninl might drive the anchovies away from Peru fishing grounds for the next few mths. But after that this fish shd be real scrumptious.

moron101 ( Date: 13-May-2015 09:44) Posted:

Current China A Shares & HK H Shares are quite overvalued. Funds have to look out elsewhere for hot Chinese stocks. PARD & CFG are good picks here in terms of mkt cap & NAV.. NAV for CFG is USD 60 CENTS. And this stock were always traded above NAV last times..

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04-May-2015 10:38

China Fishery / China Fishery - Low PE

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Dont have to go back that far. Carlye enter in 2010

" In a private placement, Carlyle will buy 113.5 million new shares in China Fishery, which lists stock in Singapore, at 1.85 Singapore dollars (US$1.33) per unit. It will also buy 26.7 million warrants, each carrying the right to subscribe to one new share at an exercise price of S$2.10, China Fishery said in a statement." WSJ

Qanghoo ( Date: 03-May-2015 20:06) Posted:

Ur recolletion when? Understand there was a bonus issue long time ago (don' t know how many for how many). Ur $2 before or after bonus? My recolletions are - 3 yrs+ ago, it was abt $1.20+. Then result deteriorated, n also trouble with Russian anti-monopoly authorities. Share went down to abt 60 - 70c. Then there were two rights issues last yr n recently. Last yr, 1 for 1@ 44c. share px dropped to 30c+. Recent rights 4 for 5@ 17.3c. Px dropped to around 17c+. Overall, nearly 4 bil shares now n mkt cap > 700 mil, net asset of coy > 1 bil.

KepoChicken ( Date: 02-May-2015 10:25) Posted:

this stock last time i remember 2 dollar leh... long time never keep track...

maybe not much fish in the sea liao

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02-May-2015 09:21

China Fishery / China Fishery - Low PE

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84% include purchased rights not entitled to exces, look at the vol chart to determine your guess of quantity plus transactions of shares cum rights below 18cents.

Who would dare except friendly parties.

nngeeh ( Date: 01-May-2015 12:17) Posted:

Pacific Andes owns 70% - Subscribed their entitlement (to transfer the fund to China Fish from their own rights exercise) and didn' t apply access.

Cariyle owns 10% - Didn' t subscribe their entitlement. The remaining shareholders make up the remaining 20%.

The valid subscribtion (exclude excess) is 84%. Meaning, these remaining 20% shareholders only apply 14%, and there are 16% rights available for excess application.

Technically, i believe all should get excess if they apply (14% valid with 16% available rights). Judging from the valid subscribtion of only 84%, i believe not many retailers took up their entitlement, and also applied for the excess. There should be a new BB who brought the righs, and applied the available 16% rights .... wondering who is that BB ...

For China Fish, the most valuable is the fishing permit which allow them to up to 17% fishing quota (the highest in Peru). As their infrastructure is already built, their cost is more predictable, and with the redemption of Copeinca bond, it removes all the future uncertaininty. As long as CHF has the fishing permit (which Peru Goverment has stopped issuing new permit), their share value should be guaranteed.

Leongsan ( Date: 01-May-2015 09:47) Posted:

At meeting Ng said only $100m LSA outstanding, $50m received end March and the balance in September 15.

What mystery will unfold wyth Carlyle? Recent events bring one to speculate that they had fallen out with Ngs.

If the chartists could look at the daily vol at near rights price and trading of rights, together with the excess allotment, someone had sold and someone else had bought alot of shares. Any pattern and comments?

Cornered?

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