(02-09-2013, 01:11 PM)Wildreamz Wrote: [ -> ]Are there serious queries about the pictures posted by Minzhong?
1) I believe the property is still under construction and is not fully operational yet.
2) I think using Photoshop to improve picture quality is common among professional photographers for publications, newsletters, magazines etc.
Haha.. not sure. Some of the photos do look a bit surreal especially the first photo.
If you are interested, maybe you can ask any of your friends that are into photography.
However, since they are fighting off shortie, they should be a bit more on the ball and start taking unprocessed photos and preferable, a video clip that tour around the facilities.
They had already taken the troubles to look for the boss of yifenli to go shenzhen to sign on declaration letter. Asking the employee to take video of the plant is an easier task than that.
Anyway, I am not a professional photographer. I am just having fun analyzing photos.
A rebuttal report has been swiftly issued ...
https://glaucusresearch.com/wp-content/u...2_2013.pdf
(02-09-2013, 02:11 PM)yeokiwi Wrote: [ -> ] (02-09-2013, 01:11 PM)Wildreamz Wrote: [ -> ]Are there serious queries about the pictures posted by Minzhong?
1) I believe the property is still under construction and is not fully operational yet.
2) I think using Photoshop to improve picture quality is common among professional photographers for publications, newsletters, magazines etc.
Haha.. not sure. Some of the photos do look a bit surreal especially the first photo.
If you are interested, maybe you can ask any of your friends that are into photography.
However, since they are fighting off shortie, they should be a bit more on the ball and start taking unprocessed photos and preferable, a video clip that tour around the facilities.
They had already taken the troubles to look for the boss of yifenli to go shenzhen to sign on declaration letter. Asking the employee to take video of the plant is an easier task than that.
Anyway, I am not a professional photographer. I am just having fun analyzing photos.
(02-09-2013, 12:10 PM)Wildreamz Wrote: [ -> ]I think it Indofood's GO move is only logical right now if they truely believe in the business.
They are not planning on delisting the company per se, probably just want to increase stake on price weakness, just that SGX mandates the GO if they intend to aquire larger than 30% stake. I doubt the institutional investors that make up 25% of the shares outstanding would allow them to acquire 90% stake at anything less than $1.
But it will also depends on their entry price and other factors.
My 2c.
Institutional investors are more willing to sell, than individual investors, under the similar uncertainty, imo.
Institutional investors have more to answer, comparing to individual investors, who may have only themself to answer.
(not vested)
(02-09-2013, 02:28 PM)jovialger Wrote: [ -> ]A rebuttal report has been swiftly issued ...
https://glaucusresearch.com/wp-content/u...2_2013.pdf
Their rebuttal is exactly what I mean by my post below:
"The balance of Minzhong’s supporting documents were either generated by the Company, thus, in our view, undermining their credibility and importance, or were affidavits from suppliers and customers, who
by the Company’s own admission operated businesses without licenses or without being properly incorporated."
(02-09-2013, 10:15 AM)specuvestor Wrote: [ -> ]Not really responding directly to shanrui per se but I think there is a big misunderstanding here regarding documentations.
We are assuming China documentation is as good or as efficient as Singapore. In fact even if Minzhong is legit, there may be a lot of grey areas in documentation for various purposes. It is not as black and white as some assume. It is more between rock and hard place because they might implicate themselves circumventing certain rules if they produce the "wrong" documentations.
As of today I don't see any concrete evidence that Sinoforest was fraud per se. But the reputational damage was done and that will drive customers and bankers away. We will unlikely know the truth... That's the problem with these kind of aggressive short sellers.
End of day if Indofood do a GO, it speaks more volume than any amount of documentation, just as Temasek did the rights issue on Olam. That seems to be the way to prevent a Sinoforest. If Paulson did a GO on Sinoforest, things could be very different.
http://www.valuebuddies.com/thread-738-p...l#pid60732
$1.12 takeover offer by Indofood, glaucus up lorry
Good to see that Glaucus has responded swiftly, which only goes to show that either it or its principals have not covered their positions yet. What a pity since they could have gotten away clean and whole.
Act II is for Indofood to splash some money. My anyhow gasak guestimate is that they will offer at 80cts and buy up to 120cts.
