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01-May-2015 09:47

China Fishery / China Fishery - Low PE

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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?

Qanghoo ( Date: 30-Apr-2015 16:56) Posted:

Think they still got money from LSA not received yet, right? If so, n once that is done, probably 40% of the loan gone already. Then if this n next yr profit hits 100 mil USD, n they withhold div, then by end next yr, the liability side shd look significantly better.

Leongsan ( Date: 30-Apr-2015 16:50) Posted:

acquisition fully funded by rights issuance.

wrong pay only copeinca bonds

still have acquisition loans and china fishery bonds US$300mil

may need more rights, or issue more shares.

They got to get the shareprice higher to do all these?

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30-Apr-2015 16:50

China Fishery / China Fishery - Low PE

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28-Apr-2015 19:37

China Fishery / China Fishery - Low PE

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Someone is playing, All the way pressed down and playing up. Carlyle got play out? Surely lots of shares have new owners. Old retailers flushed out. See pattern.

Results for last qtr must be real bad, and maybe they like it bad. I asked the question before, who was buying and who is taking over Carlye shares.

Place bets limited downside. You will be amazed if if goes back to 50 cents on a good catch

Qanghoo ( Date: 28-Apr-2015 15:11) Posted:

Apologies. Got the figure in my mind was PA' s. Anyway, I think the figure is 3.7 bil. As for the Ngs, one version explained to me is, sometimes, major shareholders control px through proxies.

Leongsan ( Date: 28-Apr-2015 14:33) Posted:

CORRECTION 20% not 8 bill but 3,7bill

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28-Apr-2015 14:33

China Fishery / China Fishery - Low PE

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CORRECTION 20% not 8 bill but 3,7bill

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28-Apr-2015 14:30

China Fishery / China Fishery - Low PE

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you think the Ngs cannot be included in your retail free float cal? They have money? lol

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25-Apr-2015 12:12

China Fishery / China Fishery - Low PE

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April 24, 2015, 3:41 pm

Alicia Villegas

With contribution from Jeanine Stewart

BRUSSELS, Belgium -- Trading of Peruvian fishmeal market is on hold as market players are waiting for the price to settle down and focusing on wrapping up fishing efforts, Peruvian exporters told Undercurrent News.

Amid fears of new Kelvin waves approaching the Peruvian coast, producers are hoping that the first season' s anchovy quota will be fully caught by May, sources toldUndercurrent during Seafood Expo Global in Brussels this week.

Prices for super prime fishmeal out of Peru had jumped from levels of$1,600 per metric ton at the start of last year' s season to $2,400/t, FOB Peru, in early November.

Exporters are putting the focus on catching the entire quota of this year' s first anchovy season, rather than on closing sales, said sources. This is due to concerns that new warm Kelvin waves could soon be reaching the Peruvian coast, which could affect fishing by causing anchovy to migrate to cooler, deeper waters.

" We don' t want to take risks and close at a price now, as we don' t know the development of the fishing season. We hope to finish the fishing season in May, a month earlier than it is supposed to end, as catches are good so far"

" We are now more focused on fishing anchovy than on selling fishmeal," a major Peruvian fishmeal exporter told Undercurrentduring the Brussels seafood show (recap all our coverage on our bloghere).

" If we fish all the TAC [total allowable catches, set at2.58 million metric tons for the first season of 2015] there will be a price correction downwards, but if new Kelvin waves affect catches prices will keep firm," said this exporter.

" We don' t want to take risks and close at a price now, as we don' t know the development of the fishing season. We hope to finish the fishing season in May, a month earlier than it is supposed to end, as catches are good so far," he said.

According to this exporter, Peruvian fishmeal companies have already produced about 250,000t of fishmeal from the current season. The anchovy fleet had caught about 32% or 800,000t of the TAC in the first 11 days of fishing, since the season started on April 9.

Out of this production, about 70,000t of fishmeal have been pre-sold in March at a price of $2,000/t for super prime FOB Peru, three major Peruvian sellers told Undercurrent.

" The price of this season is going to depend on how the fishing goes. Now it is performing well, so buyers are on hold waiting for a price correction," said a second major fishmeal exporter.

" Personally, I think there will be a price correction in the range of $1,900-$1,850/t. I understand there is a good farming season in China and stocks are scarce, so they should start buying soon," the source said.

Another two Peruvian fishmeal exporters said Chinese demand was expected to be activated soon on low stocks.

" The market is not active yet, but it will be soon as we know that China is going to need super prime fishmeal, and Peru is the only country capable of supplying this type of fishmeal in large volumes," the first fishmeal exporter said.

The negative impact of the oceanographic conditions on the anchovy stocks linked to El Nino last year saw fishmeal prices soar. With normal fishing conditions, fishmeal prices would have been around $1,600/t for quotas of 2.5m metric tons, the second fishmeal exporter said.

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20-Apr-2015 09:38

China Fishery / China Fishery - Low PE

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Carlyle rights? is it sold or not and take up or not? Pumping ?

carlyle rights taken up will raise price. Not taken up, someone will control

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15-Feb-2015 08:12

China Fishery / China Fishery - Low PE

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1 for 1 rights at 34 cents

Leongsan ( Date: 15-Feb-2015 06:05) Posted:

CAP III-A Limited 227,027,028 11.09% how the increase?

stockpicker ( Date: 14-Feb-2015 21:41) Posted:

Carlyle bought 113 mil share @ 1.85 in 2010 and then take up 96.15 mil warrant issues @ 0.52 in 2013, thus making a total investment of $259 mil. Now with share price @ 0.179, it losses amounting to $ 222 mil or $1.06 per share. it is losing its pants.. Can' t blame them if they are not interested in the rights issues.

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15-Feb-2015 06:05

China Fishery / China Fishery - Low PE

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CAP III-A Limited 227,027,028 11.09% how the increase?

stockpicker ( Date: 14-Feb-2015 21:41) Posted:

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13-Feb-2015 14:30

China Fishery / China Fishery - Low PE

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Seems that Carlyle had enough. Their investment board had not approved any allocation for this investment. Read the statement closely. Any way coming EGM catch hold of Patrick and ask him.

Carlyle have warrants exixting plus new about 180mil should be able to participate on the upside. I would do the same.

Short sellers gone no much sellers left. Who has collected?

stockpicker ( Date: 13-Feb-2015 11:33) Posted:

Sound more like trying to wash dirty linens in the public than being transparent.. CFG has never been so transparent before..it has been a 360 degree turn.. something is brewing

Qanghoo Veteran	12-Feb-2015 12:08 About Qanghoo Contact Quote this Post!
x 0 x 0 Alert Admin	Useful to be transparent to let it be known that a substantial shareholder is not taking up it' s quota of rights.

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12-Feb-2015 09:03

China Fishery / China Fishery - Low PE

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Pard and Caryle 80%.........others 20% say 400mil shares. Funds and big holders say 100mil still leaves 300mil free . Short sellers trigger margin calls and fear. This way of destruction of value,bearing in mind not underwritten, is fishey. Someone is collecting?

stockpicker ( Date: 11-Feb-2015 21:08) Posted:

Answer for No1 may be due to dumping of share held in trust by the brokers under margin calls.. they dump the holdings first before talking.. then for second answer, it is to be answered by those who know best..

stockpicker ( Date: 11-Feb-2015 14:30) Posted:

2 surprises for me...there must be reasons

1. Very little float.. yet so many shares dumped today

2. No Anchovy catch for last 6 months, yet results not that bad. 60% of CF' s result used to be from Anchovy.

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29-Nov-2014 10:17

China Fishery / China Fishery - Low PE

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Rights may not be a bad thing.PA 200m=70%. CF rights 100%=285m. ! for 1 at 15 cents?

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27-Nov-2014 17:26

China Fishery / China Fishery - Low PE

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2 possbilities: either pard help to pay copeinca loans by lending money to cf at low interest rate OR cf having a rights for pard to subscribe?

Pard own loan note interest rate is high. 8.75%. Rights likely

flyfox ( Date: 27-Nov-2014 15:02) Posted:

Yeah i agree though, i cant understand why retailers are aggressively selling down the stocks. It is good to redeem the bonds as the interest rate is too high.

Anyway there is only a float of about 10%+ in the market which can possible explain why the market is not efficient. I am only afraid there there are some bad insider news that the sellers know beforehand.

2 possbilities: either pard help to pay copeinca loans by lending money to cf at low interest rate OR cf having a rights for pard to subscribe.

EZ3626 ( Date: 26-Nov-2014 21:37) Posted:

Flyfox, reading through the reports, it does show that they are doing the right thing to raise funds to redeem Copeinca Bonds. Market sentiment was weak and management deemed a bond coupon above 10 percent as " expensive," CreditSights said. It does seem like the s^k is behaving irrational at this moment. It was a good thing that I let it go early. It is attractive now but will wait for it to settle. All I can say is interesting ......

China Fishery Sets March Deadline to Redeem Peruvian Unit' s Debt

By David Yong Nov 24, 2014 12:16 PM GMT+0800

China Fishery spent more than $782 million taking over Copeinca last year, giving it control of the biggest anchovy quota-holder in Peru and the world' s third-largest fishmeal producer. Copeinca' s $2.5 billion of assets as at the end of March made up more than 90 percent of the group' s total, filings show.

The Hong Kong-headquartered company may raise funds by selling local-currency bonds in Hong Kong or Singapore by December, CreditSights Inc. analysts said in a report published Oct. 23 that was based on meeting they had with China Fishery executives. Market sentiment was weak and management deemed a bond coupon above 10 percent as " expensive," CreditSights said.

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19-Nov-2014 10:57

China Fishery / China Fishery - Low PE

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Cheap buy maybe chance sell 36 or higher. Lunch money lol

flyfox ( Date: 19-Nov-2014 10:46) Posted:

Cool, any chance of profit for this quarter?

Leongsan ( Date: 19-Nov-2014 08:52) Posted:

I am in at 32.5. It all depends on the anchovy. I am not concern about the debt and copeinca bond saga.let us see.

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19-Nov-2014 08:52

China Fishery / China Fishery - Low PE

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I am in at 32.5. It all depends on the anchovy. I am not concern about the debt and copeinca bond saga.let us see.

stockpicker ( Date: 19-Nov-2014 08:24) Posted:

Think that writer was referring to YuuZoo. Don' t quite trust a company that does not have long term debts. YuuZoo has neither, no long term or short term. Either very new or not up to

the mark. If they can' t get banks to give them money, why should we? Sorry to say that stock has no fundamentals and cheonged purely based on speculations.

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12-Nov-2014 22:51

China Fishery / China Fishery - Low PE

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The copeinca bonds saga L dont understand But it does not matter as that has to be repaid one way or the other.Uncertainty is will there be fish this season.I think there must be some one type or other.I will start to buy some when it reach my target price.

EZ3626 ( Date: 12-Nov-2014 17:47) Posted:

wow not the s^k powderful, the one inside more powder .... wow talk until dust everywhere .... pui pui ... i mean blow blow is it buy or watch still ? leongsan

super upset with yuuzoo ... good news also kenna hantum .... damn jialat. haizzzz

what is the news ... so far can only hear speculations and rumours ... but what is going on ...

If got something please share else ????

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12-Nov-2014 09:35

China Fishery / China Fishery - Low PE

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The charade goes on.

You can speculate and debate till the cows come home.What then?

Buy or watch still? The HK co is having rights, the situation cannot be displayed as drastic?

our aim is to make some money, not making egos larger. Stay focus and do not get " moody" or " fitch' at your decision.

HAPPY FISHING

stockpicker ( Date: 12-Nov-2014 08:43) Posted:

As for why Copeinca bond holder won' t take the offer, undercurrent has this to explain..

&ldquo It&rsquo s very negative for bondholders to consent to this because Copeinca is now going to represent basically the vast majority of China Fishery&rsquo s earnings and it has

the least amount of debt,&rdquo Mariela Anguiano, an analyst at BCP Securities, told Bloomberg.

The bond is now 107, which is 7% more than the original value. Although 1% plus 9.75% sounds attractive, the risk is higher. If Copeninca bond is a subordinated bond,

as pointed out by Moody, then the bondholder will be the last to get claim the money when CF went bankrupt.

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05-Nov-2014 20:02

China Fishery / China Fishery - Low PE

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Peru puts in place contingency plan

as it awaits new anchovy fishery data

November 4, 2014, 3:32 pm

Undercurrent News

Peruvian Ministry of Production (Produce) has developed a contingency

plan in case Peru&rsquo s marine institute (Imarpe) re-iterates its advice

to suspend fishing for the country&rsquo s second anchovy season,

reported Gestion.

The measures include industrial exploitation of other species such as

oceanic lightfish (Vinciguerria, in Spanish), which have appeared in the

Peruvian sea in large quantities.

The emergence of new species &mdash alongside the lower volumes of

anchovies &mdash was a side effect to be expected from the El Nino, as

Undercurrent reported already back in April.

Fishing for other resources for human consumption such as squid, tuna,

mackerel and jack mackerel will be also be strengthened, as well as the

legal framework for fishing in the south, to enable a sustainable and more

efficient use of resources, said Peru&rsquo s deputy minister of fisheries, Juan

Carlos Requejo.

Risk coverage for events such as El Nino will also be promoted, in

coordination with other government entities, said Requejo, adding that

the production ministry (Produce) is in talks with the fishing sector to

address the situation.

&ldquo We are vigilant and proactive in dealing with this situation,&rdquo Requejo

said.

Peru puts in place contingency plan as it awaits new anchovy fishery data | Undercurre... Page 1 of 2

http://www.undercurrentnews.com/2014/11/04/peru-puts-in-place-contingency-plan-as... 5/11/2014

Negative results in first assessments

Requejo said the first assessments on the anchovy stock had

yielded negative results, since weather conditions linked to El Nino and

Kelvin waves have led to anchovy movements away from usual areas &mdash

that is, to the south, near the shore.

Due to the changing weather conditions, however, it is prudent to wait for

new Imarpe&rsquo s stock assessments, the deputy minister said.

&ldquo The final decision about the new season and the quota catch will be

known in early December,&rdquo Requejo said.

Imarpe will undertake a second cruise research in the Peruvian centernorth

region that is expected to conclude in early December.

Further research will be also carried out with the participation of the

private sector, Requejo said.

Peru puts in place contingency plan as it awaits new anchovy fishery data | Undercurre... Page 2 of 2

http://www.

SLPY69 ( Date: 05-Nov-2014 16:25) Posted:

Aiyo ... you win already " you receive the bonus issues

" Hahahaha ... Pro

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03-Nov-2014 20:09

China Fishery / China Fishery - Low PE

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Rights one for one. shares increase 100% ?

stockpicker ( Date: 03-Nov-2014 12:56) Posted:

This is what one should wary about.. almost 50% increase in ordinary shares

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30-Oct-2014 20:02

China Fishery / China Fishery - Low PE

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Can someone please post what undercurrent says. Quota reached

Pacific Andes&rsquo Damanzaihao on draft IUU list

Mothership formerly known as Lafayette is on draft IUU list of South Pacific RFMO due to be circulated on Friday, just as Peru grants the vessel a belated authorization

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