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No news so far, but it should not be any more VOA or acquisition of vessels as that is usually the domain of CFG. This is probably relating specifically to PAH and PAIH (which was also halted in Hong Kong today). What I suspect is that it involves some form of equity financing (possibility 1), M&A deal (possibility 2) or issue of convertible debt (possibility 3). Of the 3, I think M&A is the most likely because the announcement for the halt was due to a "major transaction".
On the other hand, it could be something totally unexpected. Whatever the case, the fact that it has been halted for 2 trading days (and in 2 countries) means it is BIG news.
Stay tuned. Vested.
trading suspended this morning pending announcement on a MAJOR
TRANSACTION. Any idea if it's good news.
TRANSACTION. Any idea if it's good news.
Correction - FENGSHUI Master said.. GET OUT of PROPERTY by WINTER.... NOT FISH...
My apologies.
This stock will do well.....
1. FISHERY business. If you came from humble beginnings like myself, you will remember not having the chance of eating fish often, unless it was a really special occasion. Now, FISH is served everywhere because of the rising affluence of Singaporeans. Chinese in China are going to spend more money on 'eating well'. And certainly, having FISH at celebratory dinners is 'face saving'.
2. FISH is like a 'luxury product', except that it is edible. Like the Prada and LVs, it represents the attainment of a higher 'class' status. (Though I do not support buying branded items, I support eating fish). And a lot more people can afford it. Note - SG has a unit trust for Luxury items! Slated to do well! And the Chinese have a part in it!
3. The remarkable business managed to increase revenue and INCREASE PROFIT MARGIN concurrently. Most companies end up losing profit margin and increasing revenue to maintain profit, but not this company. This means DEMAND >> SUPPLY.
4. The very SOFT reason is that the Fengshui Master interviewed by Straits Times at the beginning of the year said - BUY FISH this year. Last year, he said PROPERTY. And see how it FLEW in 2006. He did mention to get out of FISH by winter, which would mean Sep - Oct 2007. Let's see if he is right again.
I don't like this company because it is highly leveraged (debt for the fishing trawlers), and I am concerned with overfishing (just being environmentally conscious). The counter argument is that it makes financial sense to leverage and expand a profitable and growing business.
Just my 2 cents. Vested.
not too sure about this.
unable to break 98c far
This is another solid performer...will do well in near future : )
Tot I saw a saucer with handle liao :) Anyone ????
reversal with high volume!
I think singaporegal loves this kind of chart...
me too!
From DBS Vickers
TP - 1.20
We expect a strong quarter in 4Q as it is the peak fishing season; and, with CFG's two additional VOAs. We also note that with the recent surge in CFG's share price, PAH's stake in CFG alone would be worth about S$569m, when marked to current market price. Essentially, this
means that the Group's value is waiting to be unlocked. With the aggressive initiatives undertaken by CFG, we have revised our net profit upwards by 11% and 8% in 07F and 08F. Consequently, our target price is raised to S$1.20, based on 10x 08F PE. Maintain BUY.
Pacific Andes Holdings: Good set of 9-mth results
RE-RATING by OCBC - TP - $1.41
Summary: Despite the traditionally low season, Pacific Andes Holdings (PAH) saw a 20% YoY rise in 3Q net earnings to HK$31.1m. For the 9-month period, revenue rose 42.8% to HK$2984.2m, while net earnings jumped by a similar percentage to HK$161.6m. The strong results were due to stronger demand for fish in China and more importantly, from the higher contribution from its Fishing unit under listed China Fishery Group (CFG). In Jan this year, CFG signed its third and fourth Vehicle Operating Agreements (VOAs) and increased its supertrawlers fleet to 23 and harvest volume to about 270,000 tonnes in 2007, an almost doubling from 2006. As PAH's 9-mth results were in line with our expectation, we are retaining our FY07 earnings estimate of HK$350.3m. However, this close to the year-end and with the higher number of supertrawlers, we are rolling into FY08 estimates. Using the same valuation parameter of 8x and FY08 earnings, we are raising our fair value from S$1.08 to S$1.41. PAH stays as a BUY. (Carmen Lee).
Summary: Despite the traditionally low season, Pacific Andes Holdings (PAH) saw a 20% YoY rise in 3Q net earnings to HK$31.1m. For the 9-month period, revenue rose 42.8% to HK$2984.2m, while net earnings jumped by a similar percentage to HK$161.6m. The strong results were due to stronger demand for fish in China and more importantly, from the higher contribution from its Fishing unit under listed China Fishery Group (CFG). In Jan this year, CFG signed its third and fourth Vehicle Operating Agreements (VOAs) and increased its supertrawlers fleet to 23 and harvest volume to about 270,000 tonnes in 2007, an almost doubling from 2006. As PAH's 9-mth results were in line with our expectation, we are retaining our FY07 earnings estimate of HK$350.3m. However, this close to the year-end and with the higher number of supertrawlers, we are rolling into FY08 estimates. Using the same valuation parameter of 8x and FY08 earnings, we are raising our fair value from S$1.08 to S$1.41. PAH stays as a BUY. (Carmen Lee).
Source - www.Qian2yu.com
Pacific Andes' 9MFY2007 Profit For Period Surges 92.4% To HK$314.1 Million On Strong Revenue Growth
Results available at http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_12F27F57331CEA8948257282003E12FE/$file/Press_Release.pdf?openelement
CHINA FISHERY POSTS 86.2% JUMP IN FY2006 EBITDA ON INCREASED HARVESTS
Results available at
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_06708BEE4EBC94DC48257282003DDC11/$file/CFGLFY06FullYearFinStatement.pdf?openelement
Press release at
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_A42E5FA389D180DC48257282003E4107/$file/CFGLF06ResultsPressRelease.pdf?openelement
will be testing previous high of 98c ... hehehe...
come back to below 92 please....
so that I can redeem my mistake of selling....
On strong TA uptrend!
arg..... such an untimely sell :(
sold off @0.92 in the afternoon & suddenly it took off from the seaport around 4pm...
but well, at least make some kopi $$$
have to monitor this again for the next few days.
if pac ever hit 92c, should cash out & switch to other counters.
today it closed higher amid higher volume...
quite a strange charting now... don't know how to interpret.
singaporegal, can you look at the charting?
just a bedtime thought....... will pac andes ever distribute chinafish to its shareholders in the spirit of "unlocking" value? the major shareholder also benefit in a way that pac andes will surely increase significant....
have any companies done so b4? I only remember UOB-UOL...
There is a good valuation done by 'qiaofeng' at the CNA forum....:p, seems reasonable argument....TP $1.48! go see his analysis and decide....
should be anytime soon...
maybe together when it decalred its 3Q results... hopefully this will be the catalyst to set it free!