China Fishery    Last:0.076   -

Time to wake up the Giant Fish

think really got joker wanna SHORT his fish siah...haha...and looks like some unseen hand trying to maintain price at 1.90 leh :P wow...interesting..

Time	Last	Vol	Buy/Sell
11:53:17	1.900	3	S
11:52:44	1.900	10	S
11:51:32	1.890	16	B
11:51:30	1.900	1	S
11:44:30	1.900	4	S
11:36:32	1.900	5	S
11:30:12	1.900	5	S
11:28:14	1.900	5	S
11:25:18	1.900	2	S
11:21:50	1.900	3	S
10:23:54	1.890	2	S
10:12:48	1.890	3	S
09:47:00	1.890	2	B
09:46:32	1.890	8	B

 

wow..this FISH burger has dropped so much lately...more room for SHORT? hee...

he who DAREs win !!

 

hi musicwhiz5, you wrote " CFG ..... will benefit more directly from the purchase of additional vessels and VOAs. However, I bought PAH .......because of its absolute price (I did not have enough $ to purchase a lot of a S$2 stock even if I wanted to, and I don't like to buy just 3-5 lots). " 

Does that means you don't buy anything above $1? even though the growth potential is more? hope u can share some light on your investing strategy. I'm puzzle that u agree that CFG will benefit more, and yet choose the more inferior shares.   

 

agree with musicwhiz... thanks for the reply.

 

nicky... heng with this fish.. congrats..  can tell what's your next contra target or not?

 

ok...swui swui...contra off 5x at 1.92 bought in at 1.80....but still staring at paper loss of almost 2k for COSCO naked !!! :P

 

I would buy CFG based on the fact that it is the one catching the fish, thus will benefit more directly from the purchase of additional vessels and VOAs. However, I bought PAH because CFG's earnings accrue to PAH and also because of its absolute price (I did not have enough $ to purchase a lot of a S$2 stock even if I wanted to, and I don't like to buy just 3-5 lots). Cheers....

 

musicwhiz, btw the 2 fishes... CFish and Pac Andes, which do you think is a better buy.. ? assuming you have limited resources ie. fund that allows you to buy only one, or can only choose only out of the two. thanks

 

margin calls ?? hee....

 

Buy on weakness. Earnings are expected to grow strongly for FY 2007.

Not vested.

 

what happen to this fish?? it's suppose to be a shark not ikan bili.

 

pretty healthy and u expect it to drop to 1.5 ?? self contradictory leh :P

ya...may be i can activate my SHORTIST brigade to help u? hee....

 

I think some fund mgrs is slowly selling this stock.  I am waiting it to drop till 1.5, then pick up some.  This fish is pretty health and 2Q 2007 revenue up 233%, Net profit US$11.4 million.

 

wah....this FISH BURGER lao sai until 1.80 now !! DBS still buy call at $3 ?!??!?!dreaming har? hee...

 

DBS Vickers Securities has issued a BUY call on China Fishery today  . Here are the details:

China Fishery Group
Let's go fishing
BUY S$2.16 Price Target : 12-Month S$ 3.02 (Prev S$ 3.08)

Story: China Fishery (CFG) reported a good set of numbers for 2Q and 1H07. Topline for 2Q grew 233% to US$110.5m, aided by its newly added 3rd and 4th Vessel Operating Agreements (VOAs) in Jan and contribution from its Peruvian fishmeal operations. Net profit for 2Q grew 77% to US$20.2m.

Point: The Group's net profit at half time was an impressive 56% increase to US$51.6m, but was somewhat below our expectations. This is because our previous forecast assumed that the Group would change its 4th VOA to a prepayment term, similar to the previous three VOAs. At the current stage, this seems unlikely to materialise in 2007; and, we are now factoring in the daily charter expenses instead of an amortisation charge. In addition, we are also factoring in contribution from the redeployment of two elongated vessels in 2008 in the South Pacific Ocean. The net effect is that we adjust our net profit forecast down by 15% for FY07F and a 2% for FY08F.

Relevance: We remain positive on the Group's prospects, and believe it is well positioned to take advantage of the increasing global demand for fishery products, underpinned by limited fish resources and its increased size of operations. Maintain BUY, TP: S$3.02 based on 12x FY08F earnings.

 

China Fish proposes interim dividend of 3.29 Sin cents per share; this is a 51% increase compare to 1H06.

 

Singapore, 14 August 2007 ? Singapore Exchange Mainboard-listed industrial fishing company
China Fishery Group Limited (?China Fishery? or the ?Group?)(SGX:B0Z.SI) today reported results for
the second quarter (?2QFY2007?) and first half (?1HFY2007?) of the financial year ending 31 December
2007, sustaining its strong financial growth.


In 1HFY2007, China Fishery achieved a 184.4% year-on-year increase in Group revenue to
US$232.4 million. For 2QFY2007 alone, the Group generated a 233.1% growth in revenue to
US$110.5 million, compared to 2Q last year, benefiting from higher sales of premium fish products.
This significant topline growth is firstly attributed to the 3rd and 4th Vessel Operating Agreements
(?VOAs?), which the Group signed in January 2007. These VOAs have expanded China Fishery?s
trawling fleet size from 14 to 23, and hence the Group?s total harvesting and onboard processing

 

 

Since bottoming at 11Jul, price up 10% @$2.55. Congrats to all that vested.

MACD indicates begining of uptrend. RSI n Stoch also shows confirmation.

 

China fish, seems to be a good catch. AFter recent bottom-out, it is gaining momentum for recovery 

 

hi tho0032, thanks for your advise. yes, i agree Pac Andes is good, because it owns 60% of C Fish.

Since the growth element in Pac Andes is China Fish, why not own the source? Why settle for 60% when you can gain 100%?

Just my thinking, i could be wrong. Have a goodday.

 

Hi spurs88, thanks for the info.

China Fish now owns exclusive fishing licences to fish in the  Peru to harvest Peruvian anchovies to process into fishmeal. China Fish together with Pacific Andes (which owns 60% of China Fish) are vertically integrated which means they don't need third-party fish sources which will dilute profit. With worldwide fish consumption increasing, they are in a great position to ride the growth!