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Taiwan ADR Proceeds
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spices
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17-Mar-2012 09:23
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many thanks for your FA& TA opinions, experience, insights and views on this counter. u have given a fair picture, both the positives and negatives, to alert the holders / potential buyers, be more aware of the likely scenario. in the meantime, anything can happen in this volatile global market with news coming in from all corners of the world - to push the prices both ways or sideline.appreciate your views on FA and insights.... |
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GuavaXF30 ( Date: 17-Mar-2012 08:25) Posted:
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More than $17 mil originally meant for expansion of farms now mostly rechannelled to expansion of processing plants as well as provide operating cash for restaurants which are doing very badly.
Can look at it two ways. One is they are taking positive actions to prevent future massacres of Abalones, The other less charitable way is to see that they are in jam in as far as what they had planned.
When management first mooted raising TDR's, I am sure they did not expect the huge fatalities of their abalone stocks. Now with this humongous loss, I am not sure even if this 17 mil is going to be enough.
Yes I was wrong in being negative when the counter was 0.05. But I was also not wrong when it crossed back to above 0.10. I see only downwards trend again.
Sorry about the negative view. But when I look at companies, I don't look at what their claimed future earnings are. I see their business, and I study their balance sheet. And Oceanus balance sheet not very encouraging..... They really need a huge turnaround in their corporate governance if in just one quarter, entire past profit can be wiped out. Buyers beware.