: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: United Food
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Pages: 1 2 3 4
(04-07-2013, 12:50 PM)yeokiwi Wrote: [ -> ]
(04-07-2013, 10:00 AM)CY09 Wrote: [ -> ]Oh k. Thanks opmi. Hope you would discover them

For its business, I think it is likely to be real. One of its director is Mr. Sitoh, whom would not risk his reputation sitting on a fraudulent company as he is in the single member ward of Potong Pasir. Also, it has been listed here for 12 years so business should be real. But really I too cant find anything on their soy bean processing firm or pig rearing related business. If really interested in this company, best way is to see its ops in China. But from its P&L, it seems to be a lousy business

I think some forum members(including me) were the members of the United Fools' club(coined by d.o.g., member too i believe).
It was a darling during Wallstraits' days and many of the forum members owned this "value" stock.

After a while, it was just plain obvious that UF was anything but value stock.
Once bitten twice shy. The decision to drop UF from my portfolio was a great decision.

I was a member too... luckily cut lost at 37cts lose over 10k and never touch china share again! Jishan holding is another one...pui!
(04-07-2013, 12:50 PM)yeokiwi Wrote: [ -> ]I think some forum members(including me) were the members of the United Fools' club(coined by d.o.g., member too i believe).

Oh yes. What a badge of shame. Back then, as a stock market rookie, it seemed like a great deal. It had all the right ingredients: huge market in China, high margins, a great balance sheet and a low price to boot. I got smarter as I lost more money on it.

Thankfully the lessons it taught helped me to avoid the subsequent vintages of S-chips which displayed the same pattern of irrational management behaviour in the face of pristine balance sheets and impressive income statements.

Sadly, such lessons usually have to be learnt firsthand. There is nothing like losing money to sharpen the investor's mind. Reading about others' experiences, it is all too easy to dismiss it all and say "I'm smarter than that, I won't make that mistake". Only when reality bites do we realize that we are actually not so smart.
(04-07-2013, 01:54 PM)specuvestor Wrote: [ -> ]I'm also surprised they still survived till today

I'm surprised they haven't pichia lobang actually. I'm also a member of the United Fools club. The school fee was well spent though. Have avoided tons of heartaches after that experience.
(04-07-2013, 01:58 PM)WolfT Wrote: [ -> ]never touch china share

Same here.

One of my investing principles too. Big Grin
Thanks for the recounts and valuable advise from all here
Wow, bring back memories. Just checked my cash transaction records and Unifood was the 1st company bought in the records!!!

And also, ahemBlush... Citiraya was the 3rd. Hopefully stock selection skills have improved from then...

Unifood 23-Jul-2003 Buy 16,000 $(8,428.83) $(0.527)
Unifood 29-Sep-2003 Buy 1,000 $(628.19) $(0.628)
Unifood 16-Jan-2004 Buy 3,000 $(1,718.84) $(0.573)
Food Empire 8-Mar-2004 Buy 10,000 $(3,174.75) $(0.317)
Unifood 9-Mar-2004 Sell 10,000 $5,848.82 $0.585
Unifood 16-Mar-2004 Sell 6,000 $3,475.05 $0.579
Citiraya 16-Mar-2004 Buy 10,000 $(4,365.38) $(0.437)
Citiraya 22-Mar-2004 Buy 10,000 $(4,125.25) $(0.413)
Unifood 1-Apr-2004 Sell 4,000 $2,215.72 $0.554
Food Empire 20-Apr-2004 Sell 10,000 $3,275.17 $0.328
Unisteel 22-Apr-2004 Buy 3,000 $(4,075.22) $(1.358)
Citiraya 2-Sep-2004 Sell 6,000 $4,414.21 $0.736
Sincere Watch 9-Sep-2004 Buy 9,000 $(5,666.51) $(0.630)
Citiraya 25-Oct-2004 Sell 6,000 $5,133.78 $0.856
Apex-Pal 1-Nov-2004 Buy 20,000 $(5,326.30) $(0.266)
Citiraya 20-Dec-2004 Sell 8,000 $6,692.83 $0.837
Sincere Watch 3-Jan-2005 Buy 10,000 $(7,602.67) $(0.760)
Unifood 13-Sep-2005 Buy 18,000 $(4,078.70) $(0.227)
Unifood 17-Jan-2006 Sell 18,000 $4,291.13 $0.238
I also joined the united fools club recently. this S-chip gives me confidence in certain areas.

it's has share buybacks and also giving annual dividends(since 2001)

You guys were playing this at 30-40cts it's now trading at 5 cts a share I estimate around 70% disc to net-net.

buy for dividends and delisting or takeover potential.

If it turns out bad later we can still catch Seetoh and point finger at PAP Tongue
brave soul... just dont know if i should call it foolhardy

A useful quote of Charlie Munger : "There’s always going to be somebody who is making money faster, running the mile faster or what have you…Once you get something that works fine in your life, the idea of caring terribly that somebody else is making money faster strikes me as insane."

I am quite contented with making 6-8% on my current conservative stock holdings. A bet on United Food is truly unnecessary for me.
Please don't buy it. Big Grin

current assets alone is around 16cts a share, but share trading at 5 cts 70% discount to current assets. I don't see What is not conservative abt this investment.
(24-09-2013, 11:21 AM)sgd Wrote: [ -> ]I don't see What is not conservative abt this investment.

Like erratic dvd including skipping dvd this year, twindling cash and bloated inventories and restricted current assets, BV down 40% past 5 years, etc...
Pages: 1 2 3 4