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MM2 Asia [1B0.si]
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EZ3626
Veteran |
31-Aug-2014 23:38
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Found this article interesting .... It is evolving, innovating Aug. 29, 11.02am: Anchovy, from fishmeal to ' deluxe' product Peru&rsquo s anchovy fishery is so huge that it can supply the largest fishmeal industry in the world and, stil, there is enough resource for the human consumption division. Some Peruvian producers, such as Pesquera Diamante, are already supplying domestic market with canned anchovy in different sauces, and others, like Tri Marine' s Conservera de las Americas, are pinning their hopes on exports of canned anchovy. But there is still room to explore anchovy' s potential. The country' s Ministry of Production, Produce, has developed a new gourmet product: " deluxe" canned anchovy. Wrapped in slick packaging and marinated in oriental sauces, the cans are expected to become a popular product among Peruvians, simply because they taste " delicious" , Melva Pazos, coordinator at Produce' s researching division for human consumption products, told Undercurrent News. Premium canned anchovy has been presented to seafood processors at Expoalimentaria and there are already several companies that have shown interest in the product, Pazos said. |
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EZ3626
Veteran |
31-Aug-2014 17:01
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Yes, wind and rain is here. Now the air is relatively cool .... 
Hope the season is here to stay till end of the year ..... Woah love it ... It is so cool |
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stockpicker
Master |
31-Aug-2014 16:59
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Despite recent rainy days, El Niñ o still likely in coming monthsAugust 29, 2014 11:12pmDespite the rain that caused floods in parts of the country in recent days, the public may still have to prepare for El Niñ o in the coming months.
The Australian government' s Bureau of Meteorology said its models suggest El Niñ o " remains possible during the coming months." http://www.gmanetwork.com/news/story/377014/scitech/science/despite-recent-rainy-days-el-nino-still-likely-in-coming-months |
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stockpicker
Master |
31-Aug-2014 16:53
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It was said there were no co-relation between EL-Nino or La-Nina to rainfall. But in the La-Nina of 1988 and El-Nino of 1989, they found that the eastern pacific is very dry in La-Nina and very wet in El-Nino. In some areas, there are even more hurricanes and storms in El-Nino http://earthobservatory.nasa.gov/Features/WorldOfChange/enso.php [quote]The corresponding streak of dark blue in the rainfall anomaly image reveals that as much as 12 millimeters more rain than average fell over the warmed eastern Pacific. The unusual rainfall extended into northwestern South America (Ecuador and Peru). The disruption in the atmosphere impacts rainfall throughout the world. In the United States, the strongest change in rainfall is in the southeast, the region closest to the pool of warm Pacific water. During El Niñ o years, such as 1997, the southeast receives more rain than average.[unquote] |
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EZ3626
Veteran |
31-Aug-2014 13:14
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ManZzz ... don' t tell me anything ....Bbbb .... ever since S69 spoke about the wind and rain .... you bet they are here since 23 Aug.
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stockpicker
Master |
29-Aug-2014 08:59
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To eb fair, the other way is also possible.. i.e CF teamed up with Marine Havest to force Cermaq to abandon the bid.. we just did not know what happened.. |
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stockpicker
Master |
28-Aug-2014 21:12
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Not hostile bid. The original bid that was submitted on 2 Feb 2013 was a hostile but Copeinca rejected that bid. Then a Norwegian company, called Cemaq offered a higher bid which CF responded with a 11% higher bid 2 months later. When everyone was expecting another bid from Cemaq, Marine Havest, the largest shareholder of Cemaq, in its acquisition offer for Cemaq stipulated that Cemaq must abandon the bid for Copeinca. Finally, CF got Copeinca at a price 11% higher than the original bid when Cemaq withdrew the bid. However, Marine Havest never acquire Cemaq because Norwegian Government disapproved the acquisition. On the hindsight, it would appear that CF has been played out by Copeinca, Cemaq and Marine Havest and offerd 11% the higher bid for Copeinca. To convince Cemaq' s shareholder to abandon the Copeinca bid, Marine Havest came up with the conditon in its proposed acquisition of Cemaq that Cemaq must abandon Copeinca. Everything fit in nicely when Norwegian Government disapproved the Cemaq acquisition. |
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Observers
Elite |
28-Aug-2014 20:14
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Must be a reason why its a hostile takeover, not a friendly, amicable one. If price is so good, why the hostility? They went thru lengths to ' sabotage' the deal, with management approaching another company willing to bid higher. Lucky for CF, the other company got eaten up by a bigger fish. It' s a big fish eat small fish world out there. I thought earlier this year Fosun said want to buy smaller Dimante and willing to pay a relatively high price? Maybe they are using that market valuation for the revalued 2.5bil copeninca? After all, valuation is always about what the market is willing to offer.
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stockpicker
Master |
28-Aug-2014 19:57
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Go and read what you want to read and interprete your own way and believe what you want to believe.. I only believe my own eyes and the data declared by CF.. This 2013 balance sheet of CF clearly shows the asset increase is only SGD $1.0 bln which is around USD $800 mil for fishing and plant permits. dun ask why they classified under permits, may be it is permit to own Copeinca. 
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stockpicker
Master |
28-Aug-2014 19:37
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The former management must be fools of the century to sell the company to CF for $800 mil when the asset value is known to be $2.5 bil eventhough it has not been declared. Fools only would believe that asset value can appreciate suddenly in a matter of 8 months unless they found gold underneath the buildings
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Observers
Elite |
28-Aug-2014 16:40
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Or maybe, I' m guessing here, that Copeninca management had for years been using loopholes to legally ' under-declare' profits/asset-gains to save on taxes? Cannot weep, if weep too loudly might get caught-out by the Peruvian taxman?
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stockpicker
Master |
28-Aug-2014 14:34
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They knew and still sell Copeinca away.. they must be all fools.. CF boleh!!!!! |
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JMS213
Senior |
28-Aug-2014 13:20
Yells: "Just living is not enough. One must have sunshine, freedom !" |
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Stockpicker, the former management already knew that Copeinca is a valuable asset. Copeinca majority owned by the Dyer-Coriat family fight tooth and nail to resist the takeover. They have no choice, finally being acquired by China Fishery Peru' s Copeinca hires UBS after China Fishery bid(Reuters) - Copeinca, Peru' s No. 2 fish exporter, said on Monday it has hired a team of financial advisors to " explore alternatives" after it received a $556 million unsolicited buyout bid from China Fishery Group Two of Copeinca' s controlling shareholders rejected the bid in February, though third said it would be considered. Smaller retail investors could still accept the offer. UBS, DNB Markets and Carnegie will advise the Peruvian company on its options. Peru is the world' s top exporter of fishmeal and each year brings in about $1.8 billion in export receipts. Its rich seas are increasingly coveted by multinational companies, even as the government takes steps to curb signs of overfishing. |
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Leongsan
Senior |
28-Aug-2014 13:20
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Sure no kelong? Update: Auditors proposed S$34b of changes to listed firms' financial statements in FY13
Bulk of proposed adjustments accepted by companies
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Leongsan
Senior |
28-Aug-2014 13:15
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Very very chim.Liak no ball. Got fish or no fish. Up down hold? When buy or sell?
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stockpicker
Master |
28-Aug-2014 11:36
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You win liao loh. found gold bars worthed $1.5 bil under the Copeinca factory after they took over? The former management of Copeinca must be weeping now.. |
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JMS213
Senior |
28-Aug-2014 09:07
Yells: "Just living is not enough. One must have sunshine, freedom !" |
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After seeing all the posts, found the article that SK have mentioned. We should enjoy the Equilibrium is positive. Yes, it is by Bloomberg L.P. is a privately held financial software, data and media company headquartered in New York City.Let me help to put things in perspective. Personally don' t think Bloomberg will simply put up the figures, afterall they provide financial software tools such as an analytics and equity trading platform, data services and news to financial companies and organizations. What could be really wrong and glaring is TIME ? One is 2013 and the other is end of 2014 With some $2.5 billion of assets at the end of March 2014, Copeinca accounted for at least 90 percent of the group' s total assets and earnings, company filings show. Stockpicker " Luckily, can still find Copeinca' s financial statement for Dec 13" The last 2Q financial reports show Copeinca has brought in huge profits for the company which is also stated " Copeinca accounted for at least 90 percent of the group' s total assets and earnings, company filings show." This is very significant US$1.5B grew to US$2.5B and the Banks knew it .... cheers China Fishery Takes Extra Month to Win Copeinca Bondholder DealBy Christine Jenkins and David Yong Aug 22, 2014 3:58 AM GMT+0800
Anchovy QuotaChina Fishery officials didn' t immediately return e-mails and calls made outside of working hours for the Singapore-listed group. Calls to Copeinca' s main number weren' t answered. 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. The purchase was partly funded by loans that lenders now say must be guaranteed by Copeinca, according to S& P. With some $2.5 billion of assets at the end of March, Copeinca accounted for at least 90 percent of the group' s total assets and earnings, company filings show. " That' s a lot of additional debt for Copeinca bondholders to share with other group creditors," Charles Macgregor, the Singapore-based head of Asia at Lucror Analytics Pte, an independent credit-research company, said before the extension was announced. " This is a credit that continues to surprise on the downside."
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stockpicker
Master |
28-Aug-2014 00:33
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Use your head to think, if Copeinca' s total asset was 2.5 bil, would they sold it to CF for less than 2.0 bil, not to mention the actual selling price is less than 1.0 bil |
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stockpicker
Master |
28-Aug-2014 00:08
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Luckily, can still find Copeinca' s financial statement for Dec 13 here otherwise, ppl will say I adulterated the results.. http://www.copeinca.com/investors/financial-information.html As for China Fishery financial statement, can find in sgx website http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content& B=AnnouncementLast3MonthsSecurity& F=SW0L5B7PXIBPM6AN& H=264e83e545ee29683a59c392553d7b0bce2f0752f8856cc38190a693a8b0ee9b& fileId=CFGL-3QFY2014%20Results.pdf dun know why pple dun believe their own eyes and wanted to read what others have said..just impossible.. |
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stockpicker
Master |
27-Aug-2014 23:43
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To be fair to Fitch, I could not find Fitch has mentioned about the 2.5 bil asset rather it was Bloomberg who has the following sentence.. [quote]With some $2.5 billion of assets at the end of March, Copeinca accounted for at least 90 percent of the group&rsquo s total assets and earnings, company filings show.[unquote] Someone here with powerful english interpreted that Copeinca has $2.5 bil asset..may be we should consult an English teacher or someone who has better english. |
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