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| 26-Aug-2014 10:33 |
China Fishery
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China Fishery - Low PE
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Are the Lenders stupid ... piak, piak, piak ??? Of course not After lending so much money to China Fishery decide to " Harakiri" Japanese word for commit suicide. You have the answer " Of course NOT" Question : What are they trying to do ? Again the answer is in the article BUT you chose to ignore it ... haizz so sad. |
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| 26-Aug-2014 10:28 |
China Fishery
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China Fishery - Low PE
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Answer is in the report, China Fishery spent more than US$782 million taking over Copeinca last year, giving it control of the biggest anchovy quota holder in Peru and the world&rsquo s third-largest fish meal producer. The purchase was partly funded by loans which lenders say must now be guaranteed by Copeinca. Next Question : Why the lenders say must now be guaranteed by Copeinca ? |
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| 26-Aug-2014 10:25 |
China Fishery
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China Fishery - Low PE
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Question : Why is China Fishery pushing for Corporacion Pesquera Inca SAC, its Lima-based unit better known as Copeinca, to back obligations including US$650 million of credit lines from five lenders, US$300 million of its July 2019 bonds and future borrowings, company filings showed ? When you are able to answer this question, it will answer your question about where is the money ? |
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| 26-Aug-2014 09:07 |
China Fishery
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China Fishery - Low PE
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I am sure we have been taught, important to read the conclusion which summarises what they have to say. S& P " The worst-case scenario, if they can' t get the consent from Copeinca bondholders, is a technical default on the loans, and the banks will probably give them a temporary waiver," Annisa Lee, a credit analyst in Hong Kong at Nomura Holdings Inc., said by phone on Aug. 20. " The other alternative is for them to call the Copeinca bonds." Fitch conclude " The risk of both the consent solicitation failing and COPEINCA' s creditors refusing to give China Fishery any grace period to seek refinancing for the bonds is low." They do not see it as an issue because it can be solved. Wind and Rain is here again. Enjoy |
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| 26-Aug-2014 07:14 |
China Fishery
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China Fishery - Low PE
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Stockpicker, the presentation maybe different BUT the conclusion is the same ... S& P " The worst-case scenario, if they ca' t get the consent from Copeinca bondholders, is a technical default on the loans, and the banks will probably give them a temporary waiver," Annisa Lee, a credit analyst in Hong Kong at Nomura Holdings Inc., said by phone on Aug. 20. " The other alternative is for them to call the Copeinca bonds." Fitch conclude " The risk of both the consent solicitation failing and COPEINCA' s creditors refusing to give China Fishery any grace period to seek refinancing for the bonds is low." |
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| 23-Aug-2014 22:02 |
China Fishery
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China Fishery - Low PE
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Don' t mind telling you, the El Niñ o is going away because the South Wind is blowing and rain is on the way ..... Enjoy your weekends |
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| 23-Aug-2014 10:08 |
China Fishery
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China Fishery - Low PE
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Stockseer, due respect to you, please find out how many stocks has a free float of 20% to public shareholders ? Fitch after studied and assessed the operation of China Fishery, then said " BECAUSE the agency already expects China Fishery' s Peru operations to eventually be fully integrated and considers Copeinca ASA' s bonds as part of China Fishery' s debts" It is fair statement because it was reported before yesterday report which excites the sentiment of retail investors. The proposed amendments will not alter the key business terms, such as the interest rate or maturity date, of the USD250m Copeinca bonds due 2017. 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' s Peru operations to eventually be fully integrated and considers Copeinca ASA' s bonds as part of China Fishery' s debts Funds are flowing in, net income is healthy, fish price is up, operation is being integrated, El Niñ o is going away till end of the year, demand is increasing ..... Mother Company is the 12 largest seafood company in the world by revenue. There is room to improve the machinery further .... Enjoy and watch ...
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| 22-Aug-2014 15:04 |
China Fishery
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China Fishery - Low PE
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Just watch out for the short sell order .... I am sure many have taken this opportunity to short the BB. I wouldn' t do it, very risky because China Fishery has less than 20% to the rest of the market, which means public shareholders have access to very few shares. Can obtain this from the web, Pacific Andes International Holdings owns 70.5% shares, investing in 2004 to eventually list China Fishery Group on the Singapore Exchange in 2006. American asset management firm, The Carlyle Group, bought 11.1% (13.6% including warrants) in 2010. Jonathan is probably making a right comment, you just don' t know .... go slow. East wind is blowing ... can you feel it .... of course you cannot see .... watch the surrounding. Yes, it is coming ..... |
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| 22-Aug-2014 14:42 |
China Fishery
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China Fishery - Low PE
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Looking at the overall picture of China Fishery they do not see it as a big issue .... it has been over- rated, conjured up. As I have said the matter will and can be resolved BUT why would the Solicitation Team wants to do it in one goal. Do it slowly got money mah .... Human is to make simple thing complex then can justify their worth down through history. Just watch show " Clash of the Titans" China Fishery is doing well .... if they don' t talk about the loan, tell me what you want them to talk. Wu Liao |
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| 22-Aug-2014 14:32 |
China Fishery
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China Fishery - Low PE
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Please read carefully ... will not be impacted EVEN IF .......
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| 22-Aug-2014 12:07 |
China Fishery
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China Fishery - Low PE
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Can you hear the cheering from behind .... listen carefully " You can do it .... grow like a Champion grow" Wonder who is the one saying it .... O it is the Banks ..... you are our Money Tree. Keep growing and we love you. Mother company, Pacific Andes International Holdings, the twelfth-largest seafood company in the world by revenue. Caperone, please take good care of CF' s need, this BB has potential .... and make sure the solicitation team get it done. We want results Why would anyone wants to throw out a Wimbledon, PGA ..... Champion ? Must be kidding ... fundamental of CF is intact. Fitch: China Fishery' s Ratings Not Impacted By Consent SolicitationThu Jul 17, 2014 10:08pm EDT (The following statement was released by the rating agency) SINGAPORE/HONG KONG, July 17 (Fitch) Fitch Ratings says today that the ratings of China Fishery Group Limited (China Fishery BB-/Negative) and its bonds due 2019 will not be impacted even if the proposed amendments in the consent solicitation announced on 14 July 2014 are adopted.
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| 22-Aug-2014 10:11 |
China Fishery
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China Fishery - Low PE
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You have missed this. Profession .... consultants the longer it drags ... they are paid mah .... Ok let me give you an illustration, when you lost your key and trapped outside your house. You call in a locksmith to open the lock. Imagine if he open the lock in 3 sec, how to justify $80 for 3 seconds job. So the locksmith needs to wayang a bit lah sweat a bit lah, pause 2 mins lah and then finally open the lock. You feel so touch and grateful, thank him and pay him $80 willingly. Maybe you like to find out how much the professional for this exercise. If I am not wrong, it is based on time. Bingo ..... This is facts of life Maybe they should overhaul the team that carried out the solicitation .... twice they have extended the exercise. They are paid .. any extension means they are paid handsomely, not cheap. Do you know that ? |
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| 22-Aug-2014 09:57 |
China Fishery
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China Fishery - Low PE
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It is sufficient, you are seeing the right place. I also knew you are going to paste this as well. They have rided through the biggest storm ever and made headnews and many heads to turn. This is a small issue to handle. Maybe they should overhaul the team that carried out the solicitation .... twice they have extended the exercise. They are paid .. any extension means they are paid handsomely, not cheap. Do you know that ? |
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| 22-Aug-2014 09:28 |
China Fishery
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China Fishery - Low PE
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Trust me, it can be settled. Note I did not say " may" rather " can" . Certain things not at liberty to say. Thank you |
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| 22-Aug-2014 09:25 |
China Fishery
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China Fishery - Low PE
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Please check properly .... that is incorrect. |
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| 22-Aug-2014 09:10 |
China Fishery
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China Fishery - Low PE
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They have carried out the solicitation exercise, they will know who is accepting the consent fee. It can be never be zero " 0" . Do you agree ? Pay them and reduce the number of bondholders who do not agree. Then use the available fund to redeem the rest who do not agree. The bondholders know how to weigh their sum, they will likely to take the deal and go. Else, those who still do not agree will get no consent fee and have their bond redeemed. Wonder how they negotiate or they have their own agenda. Those who have consent are given a chance to revoke, can you believe that ??? WHy they did not do that when they acquire Copeinca for those who have sold their shares to them. O you can start again. This solicitation exercise is questionable ??? The management need to know that Why they did not report how many consented to the solicitation ? Frankly, if they are able to settle the bondholders, the banks are more than willing to lend them for their operation basing on Copeinca' s asssets and income. Again, I refute what you have said. Banks are not stupid, they know Copeinca is very healthy and wanted the unification of entities. Put yourself as the assessor and you will know what I mean. The overall operation is healthy and profitable, why would they (banks) want to shoot their own toes ? |
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| 22-Aug-2014 07:27 |
China Fishery
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This news is all played up like what JMS has said and media is going along with it. If there is a penalty for early redemption for the Copeinca bonds, don' t that know it ??? Sure they are being advised. Ultimately they will have funds to redeem the bond, is there a need to drag and pay the bondholders consent fee which is not little ??? Currently the consent fee is at US$1.25 m still there is no agreement. They have to sweeten the deal further .... hahaha Copeinca bondholders are being offered US$10 for every US$1,000 in face value of bonds as an incentive to consent to the covenant changes. If the minimum number, or 50.1 per cent, of bondholders agree, that will cost the company US$1.25 million. China Fishery had set an original consent deadline of July 30, but extended it until 5pm New York time yesterday (5am Singapore time today). What negotiation ? Is there a need to sweeten the deal ? Take it or leave it .... they already have the money which is supposed to redeem the bonds. Why do they need to solicit ? This is all played up ..... make no sense. It is unnecessary .... to carry out this exercise. There are various fees to be paid other than the consent fee ... eg agents, logistic, .... |
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| 14-Aug-2014 22:28 |
China Fishery
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China Fishery - Low PE
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Sound very correct. Let me ask you a question. If they have not made the acquisition of Copeinca, what will be the Net Profit of China Fishery ? Don' t forget, " Meanwhile, revenue from the contract supply business, dealing in Russia pollock then processed in China, which accounted for 27.1% of total revenue, decreased by 59.5% from $320.8m to $130.1m, due primarily to the termination and non-renewal of long term supply agreements." Today the Net Profit is $52.9m, otherwise it would have been Net Lost. |
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| 06-Aug-2014 13:40 |
China Fishery
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This fish .... not simple.... Dignitary. They have assigned escorts, dedicated analysts to watch and provide beautiful charts and articles. Quite interesting ... Market is very aware and know what is happening ? Enjoy .... Happy National Day ! Majulah Singapura |
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| 06-Aug-2014 11:58 |
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It always depends how you look at it. USA has tonnes of debt, yet they are still the largest economy in the whole world. USA is still flying Which company do not have debt ? Wilmar, Olam, Ezra .... Tell you a secret this fish got aeroplane turbines, can accomodate cargoes (debt) .... got be patience, they are building the runway .... let the market decide. When it takes off, makes sure you are inside. Else everyone will wave goodbye .... relax and enjoy 
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