(13-04-2016, 12:50 PM)specuvestor Wrote: [ -> ]Hi portuser
The capacity for the Sichuan factory should be for canned food, which I think has a very different process from PET bottled drinks
The Sichuan factory was converted for juice production, I believe in 2012, because the cost of transporting canned vegetables to faraway ports for export to Europe was too high.
Boon has came across an environmental impact report dated April 2014 on conversion of the factory and is wondering why the project cost as stated in the report was a mere RMB 21m for 150,000 tonnes of juice production capacity.
Boon
You may want to ask Sino Grandness to clarify either by writing to them or attending the AGM on 25 April.
The RMB 21m project cost may not be correct.
Page 2 of application proof shows RMB 4,573 as the average price of a tonne of juice. Revenue from the 90,000-tonne line is therefore RMB 411m. With a net margin of 17%, profit from this line will be RMB 69.8m, three times the project cost.......
New annoucement from Sino Grandness. Convertible loan from Soleado
For US$20m they will go through EGM and personal guarantees. Now TTA will do the due diligence
If this loan go through they will be able to pay SB1
(13-04-2016, 11:15 PM)specuvestor Wrote: [ -> ]For US$20m they will go through EGM and personal guarantees. Now TTA will do the due diligence
If this loan go through they will be able to pay SB1
May I assume that there will be vendor sale for Garden Fresh IPO?
If so, would it be enough for SG to pay for SB1 with the IPO proceed?
Unless SG is not confident in launching the IPO in time for the Vendor sale proceed to pay for the SB1?
Definitely vendor sale to meet the SB1 and maybe SB2 payments. If they have to get this loan my guess is IPO not happening before 31 May in time for SB1
These are very specific cashflow catalysts. Otherwise I'm wrong. IMHO opinion it will be most interesting if this synthetic CB fails
(13-04-2016, 11:15 PM)specuvestor Wrote: [ -> ]For US$20m they will go through EGM and personal guarantees. Now TTA will do the due diligence
If this loan go through they will be able to pay SB1
Hi Mr. specuvestor,
I didn't go into detail of the debate between you, crubs, and portuser on the matter previously, due to other commitments, obviously. I briefly read crubs and portuser part of story now.
Yes, Sino investment, is relatively small to TTA, thus a formal DD is not there. With the high profile of the investment, and the following TTA commitments, it is inconceivable for a "NO due diligence" of TTA on Sino. As portuser has highlighted, as outsider, no way we will know the detail now. We can doubt on depth of the DD, or the focus of the DD due to each individual's opinion, but very unlikely No DD.
May I suggest that let's avoid using "No DD" or similar statement in future posts? Let's give Sino, the benefit of doubt. What do you think?
Regards
Moderator/CF