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28-Aug-2013 09:30

Straits Times Index / STI to cross 3000 boosted by long-term investors

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load up the put warrants..

thai mkts in bear terroritory.. indo mkts and ruppiah falling.. India ruppee falling to lowest levels..

Asian financial crisis?

ozone2002 ( Date: 27-Aug-2013 10:59) Posted:

Billionaire Sprott Says World To Witness A Frightening Collapse

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/8/23_Billionaire_Sprott_Says_World_To_Witness_A_Frightening_Collapse.html

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28-Aug-2013 09:26

AusGroup / Ausgroup

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AusGroup Q4 net hit by lower revenue, margin

dead fish..need the RTO to save shareholders..

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28-Aug-2013 09:15

SinoGrandnes / Sino Grandness - a growth stock with low PE

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Sino Grandness (Maybank)
Ready, Willing and Able
A reassuring conference call yesterday.
shortseller?s attack on China Minzhong, Sino Grandness? management
has been very responsive and open in dealing with investors? concerns
and readily agreed to hold a conference call with our clients yesterday
despite the extremely short notice given to them. In all, the concall was
organised within 90 minutes and 20 clients participated. We think the
information shared by management was helpful and informative, and
should go a long way to calming investor concerns. We maintain our
BUY call and target price of SGD1.89 on Sino Grandness.In the light of the recent
Sino Grandness does not use distributors extensively.
visibility of its products is a lot higher with Sino Grandness and
customer demand cannot be manipulated as it sells its products directly
to the end-customer.
Although both are involved in the vegetable export business, China
Minzhong uses many local distributors to deal with the end-customers
either overseas and domestic, while Sino Grandness sells directly to
customers such as Cole Supermarkets in Australia or Tesco in the UK.
With customers where it has to use distributors, such as with the chain
of 7-11 convenience stores in China, the distributors function more as
logistics and fulfilment agents as there are just too many stores for Sino
Grandness to make sure each store is fully stocked. However, the
orders still come directly from the end-customer and not from the
distributor.Channel
Solid progress has been made with Garden Fresh IPO in Hong
Kong.
Hong Kong and things are definitely on track for a favourable
conclusion. SGX?s approval for Sino Grandness to execute on the
planned spinoff was the main hurdle and that was received on 1 July.
The next few stages will be more within the company?s control. Three
big international investment banks have already been shortlisted and
the final selection will be made soon.Sino Grandness is currently working on the Garden Fresh IPO in
Sino Grandness ? Summary Earnings Table
FYE Dec (CNY m) 2011A 2012A 2013F 2014F 2015F
Revenue 1019.7 1640.3 2427.7 2997.2 3522.1
EBITDA 231.9 427.8 564.7 692.0 796.8
Recurring Net Profit 151.5 289.1 392.2 483.5 556.2
Recurring Diluted EPS (CNY) 0.5 1.0 1.3 1.6 1.9
EPS growth (%) 29.2 90.9 35.7 23.3 15.0
DPS (CNY) 0.04 0.00 0.09 0.12 0.13
PER 10.5 5.2 4.0 3.3 2.8
EV/EBITDA (x) 6.7 3.9 2.9 2.0 1.6
Div Yield (%) 0.8 0.0 1.7 2.3 2.5
P/BV(x) 2.7 1.8 1.2 0.7 0.6
Net Debt/(Cash) 76.7 238.0 209.6 -181.1 -335.4
ROE (%) 31.2 41.3 36.4 28.4 23.7
ROA (%) 21.4 26.7 24.3 22.4 20.7

Consensus Net Profit (CNY m) 392.3 482.7 601.5

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28-Aug-2013 09:08

Yamada Green Res / Yamada-Since it IPO at 0.22c-good response

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Analysts steering clear of S-chips, China Minzhong

SHORT S chips time! everyone avoiding like plague..

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28-Aug-2013 09:07

China Minzhong / China Minzhong Food forum

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Analysts steering clear of S-chips, China Minzhong

SHORT S chips time! everyone avoiding like plague..

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28-Aug-2013 09:05

SinoGrandnes / Sino Grandness - a growth stock with low PE

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Analysts steering clear of S-chips, China Minzhong

SHORT S chips time! everyone avoiding like plague..

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27-Aug-2013 14:47

China Minzhong / China Minzhong Food forum

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Indo food has stated that they have done extensive due diligence on CMZ.. should provide relief for CMZ shareholders for now until CMZ releases its official announcement on the matter

Solid 2Q13 profit +13% YoY limited

impact from Minzhong concerns

Reuters Bloomberg Exchange Ticker

INDF.JK INDF IJ JKT INDF

ADR Ticker ISIN

PIFMY US45577X1054

________________________________________________________________________________________________________________

Deutsche Bank AG/Hong Kong

This research has been prepared in association with PT Deutsche Bank Verdhana Indonesia. The opinions contained in

this report are those of PT Deutsche Bank Verdhana Indonesia.

Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should

be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should

consider this report as only a single factor in making their investment decision.THE VIEWS EXPRESSED ABOVE

ACCURATELY REFLECT PERSONAL VIEWS OF THE AUTHORS ABOUT THE SUBJECT COMPANY(IES) AND ITS(THEIR)

SECURITIES. THEY HAVE NOT AND WILL NOT RECEIVE ANY COMPENSATION FOR PROVIDING A SPECIFIC

RECOMMENDATION OR VIEW IN THIS REPORT. FOR OTHER DISCLOSURES PLEASE VISIT

http://gm.db.com/ger/disclosure/Disclosure.eqsr?ricCode=INDF.JK MICA(P) 054/04/2013.

Price at 23 Aug 2013 (IDR) 6,250

Price target - 12mth (IDR) 8,250

52-week range (IDR) 7,850 - 5,350

Jakarta Comp. Index 4,169.83

Reggy Susanto, CFA

PT Deutsche Bank Verdhana Indonesia

Research Analyst

(+62) 21 318 9527

reggy.susanto@db.com

Adi Putra

PT Deutsche Bank Verdhana Indonesia

Research Associate

(+62) 21 318 9543

adi.putra@db.com

Stock data

Market cap (IDRbn) 54,878

Market cap (USDm) 4,878

Shares outstanding (m) 8,780.4

Major shareholders CAB Holdings

(51.53%)

Free float (%) 48

Avg daily value traded

(USDm)

6.557

Source: Deutsche Bank

Key data

FYE 12/31 2012A 2013E 2014E

Sales (IDRbn) 50,059 55,111 58,811

Net Profit

(IDRbn)

3,261.2 3,257.1 3,559.8

DB EPS (IDR) 371 371 405

PER (x) 14.0 16.8 15.4

Yield (net) (%) 2.7 2.4 2.4

Source: Deutsche Bank

Strong profit +13% YoY and + 36% QoQ despite weak agribusiness

INDF booked 2Q13 profit of Rp981bn on sales of Rp14tr (+10% YoY, +9%

QoQ, please see table). Profit and EBIT (+8% QoQ) grew strongly QoQ despite

agribusiness turning into the red, showing INDF?s integrated nature. The CBP

business (45% of sales) was +13% YoY in 2Q13, Bogasari (27% of sales) +22%

YoY on 12% volume growth, Agribusiness (21% of sales) -11% YoY, while

Distribution (8% of sales) +21% YoY. Agribusiness now accounts for c. 8% of

profit, hence maintain Buy as risk-reward balance looks attractive.

Concerns on China Minzhong, but financial impact limited

Share price of China Minzhong (MINZ SP, NR, CP:SGD0.53), which is 29.3%

owned by INDF, fell by 48% on the back of a research report released by

Glaucus Research Group. Recall that INDF paid SGD195mn for the stake

(average price of SGD1.01). MINZ only accounts for 2.2% of INDF's sum-of-the

parts and profit would be lower by 4% in 1H13 if we exclude MINZ. In the

extreme case that INDF has to write down the whole investment, profit in 2013

would go down by 38% and book value by 7.5%. Management reiterated that

it deems its investment in MINZ as " prudent" and they have done " extensive

due diligence" including a recent trip to China. Though the financial impact

from MINZ is limited, we worry more about the potential reputational impact

on INDF should the allegations in the report be substantiated.

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27-Aug-2013 11:55

Yamada Green Res / Yamada-Since it IPO at 0.22c-good response

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broke 20c... shortist are targetin this stock as well..

Yamada should come out and clarify their position..

if they want to stem the slide..

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27-Aug-2013 11:48

China Minzhong / China Minzhong Food forum

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My Market View
The views expressed here by the contributor does not belong to ShareJunction.

China Mingzhong Food Suspended After Attack by ...

Contributed by Martin Lee @ Sg

27-Aug

Yesterday morning, short sellers Glaucus Research Group published a report on China Mingzhong Food Corporation, one of the S-chips that is listed on SGX.

The report alleged widespread fraud in China Mingzhong including fabricated sales, fake suppliers, attempted cover-up and an inflated capital expenditure. The report can be downloaded here:

Glaucus Research on China Minzhong Food

If the allegations in the research report are true, the company would have managed to pull a big wool pulled over the eyes of their investors and auditors.

After the report was released by Glaucus Research, the share price of China Mingzhong dived almost 50%, and the company immediately called for a suspension of their shares.

At 9pm last night, China Mongzhong came up with this press release:

It has been brought to the attention of China Minzhong Food Corporation Limited that Glaucus Research Group has released a report regarding certain affairs of the Company. The Report has caused a substantial decrease in the share price of the Company this morning and Glaucus has openly stated that Glaucus and those acting in concert with it are short sellers who will profit from the decline of the Company?s stock price.

The Company is in the process of reviewing the Report and will provide its response shortly. The Company will take all necessary steps to defend its reputation and will not hesitate to take legal action against those who put up and disseminate false or misleading statements without due regard to their truth and for the purpose of inducing others to deal in securities.

In the meantime, the Company has halted the trading of its stock and reserves all rights against the aforesaid parties.

Business Times has written a premium article on this saga too:

China Minzhong gets ambushed by shortseller

It remains to be seen how all this will pan out but for many investors of S-Chips, this is deja-vu all over again. Quite a number of S-chips have already been suspended or delisted due to one reason or another.

FerroChina ? Delisted
China Printing & Dyeing ? Delisted
Fibrechem Technologies ? Suspended
Beauty China ? Delisted
Oriental Century ? Delisted
China Sun Bio-chem ? Suspended
Celestial NutriFoods ? Suspended
Sino-Environment ? Delisted
China Milk Products Group ? Suspended
KXD Digital Entertainment ? Suspended
China Hongxing Sports ? Suspended
Hongwei Technologies ? Suspended
China Gaoxian ? Suspended
Sino Techfibre ? Suspended
China Sky Chemical Fibre ? Suspended
Sinopipe ? Suspended

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27-Aug-2013 11:44

SinoGrandnes / Sino Grandness - a growth stock with low PE

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now all S chips are targeted by shortist..

damn gd intra day money to be earned if you spot the right S chip to short..

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27-Aug-2013 11:37

Yamada Green Res / Yamada-Since it IPO at 0.22c-good response

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x 0

Last:0.2 Vol:1319k

-0.02

sinogrand already down 20%..next to get hit is Yamada..

ozone2002 ( Date: 27-Aug-2013 10:27) Posted:

Last:0.205 Vol:676k

-0.015

going down.. shorters are coming in

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27-Aug-2013 11:36

SinoGrandnes / Sino Grandness - a growth stock with low PE

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Last:1.045 Vol:5163k

-0.225

shorters out in full force..

Either Sinogrand halts their share and come out n give an announcement

or the shorting tsunami will continue..

ozone2002 ( Date: 27-Aug-2013 09:43) Posted:

Last:1.185 Vol:1744k

-0.085

momentum building up.. volume increasing share price decreasing..

ozone2002 ( Date: 27-Aug-2013 09:34) Posted:

Last:1.2 Vol:1172k

-0.07

Sinogrand the next target.. down 7c today to 1.2, compared with 1.32 yesterda

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27-Aug-2013 10:59

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Billionaire Sprott Says World To Witness A Frightening Collapse

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/8/23_Billionaire_Sprott_Says_World_To_Witness_A_Frightening_Collapse.html

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27-Aug-2013 10:27

Yamada Green Res / Yamada-Since it IPO at 0.22c-good response

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x 0

Last:0.205 Vol:676k

-0.015

going down.. shorters are coming in

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27-Aug-2013 10:16

SinoGrandnes / Sino Grandness - a growth stock with low PE

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Last:1.17 Vol:2206k

-0.1

meaty short.. lowest hit was 1.13

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27-Aug-2013 10:07

Golden Agri-Res / GoldenAgr

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Last:0.57 Vol:21018k

+0.005

Reversal..

ozone2002 ( Date: 26-Aug-2013 16:54) Posted:

Last:0.565 Vol:239558k

+0.04

nice price rise accompanied by abnormally high vol..

looking gd..

gd luck dyodd

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27-Aug-2013 10:01

Yamada Green Res / Yamada-Since it IPO at 0.22c-good response

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this has not been shorted yet by the CMZ shortist party..

Sinogrand already been impacted.. falling from 1.32 yesterday to 1.13 intraday low today

Yamada hardly moved, indication of lack of shortist interest with the low volume being done.

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27-Aug-2013 09:43

SinoGrandnes / Sino Grandness - a growth stock with low PE

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x 0

Last:1.185 Vol:1744k

-0.085

momentum building up.. volume increasing share price decreasing..

ozone2002 ( Date: 27-Aug-2013 09:34) Posted:

Last:1.2 Vol:1172k

-0.07

Sinogrand the next target.. down 7c today to 1.2, compared with 1.32 yesterday

ozone2002 ( Date: 26-Aug-2013 16:34) Posted:

Last:1.285 Vol:2157k

-0.105

sliding down..CMZ shortists now targeting Sinogrand

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27-Aug-2013 09:37

Yamada Green Res / Yamada-Since it IPO at 0.22c-good response

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likely will have a trickle down effect to all s-chips.. especially when it's in similar biz to CMZ..

Sinogrand already falling from open today.. Yamada could be next...

Last:0.215 Vol:107k

-0.005

ozone2002 ( Date: 26-Aug-2013 15:39) Posted:

Last:0.22 Vol:2015k

-0.005

volume building up.. already 2million done .. looks like will follow the same direction as Minzhong

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27-Aug-2013 09:34

SinoGrandnes / Sino Grandness - a growth stock with low PE

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x 0

Last:1.2 Vol:1172k

-0.07

Sinogrand the next target.. down 7c today to 1.2, compared with 1.32 yesterday

ozone2002 ( Date: 26-Aug-2013 16:34) Posted:

Last:1.285 Vol:2157k

-0.105

sliding down..CMZ shortists now targeting Sinogrand?

ozone2002 ( Date: 26-Aug-2013 11:03) Posted:

Last:1.32 Vol:140k

-0.07

low volume done so far.. more downside to come if CMZ shorters switch from CMZ to sino..

next target Yamada..

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