China Flexible Packaging

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#11
(31-03-2011, 02:38 PM)yeokiwi Wrote: Any good reason to own CFP?

Let me make a guess. he bought it at much higher price and it will be too painful to cut loss, hoping that it will turn around for him to get even to dispose it off. i think it is one of the major weakness of fundamental investors that we all have in refusing to acknowlege that we have made a mistake and swallow the bitter medicine.Until we learn to overcome this we will never be a good investor. I myself do suffer from this disease but it has gotten better over the years but not completely.
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#11
(31-03-2011, 02:38 PM)yeokiwi Wrote: Any good reason to own CFP?

Let me make a guess. he bought it at much higher price and it will be too painful to cut loss, hoping that it will turn around for him to get even to dispose it off. i think it is one of the major weakness of fundamental investors that we all have in refusing to acknowlege that we have made a mistake and swallow the bitter medicine.Until we learn to overcome this we will never be a good investor. I myself do suffer from this disease but it has gotten better over the years but not completely.
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#12
Jacmar, you are really bad but i think you hit the point spot-on. People always think stock price follows the tide theory that what's pulled back will return because they only see a minuscule of the whole trading span.


Cory

Just my Diary
corylogics.blogspot.com/


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#12
Jacmar, you are really bad but i think you hit the point spot-on. People always think stock price follows the tide theory that what's pulled back will return because they only see a minuscule of the whole trading span.


Cory

Just my Diary
corylogics.blogspot.com/


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#13
Yeokiwi,

It did trade above IPO price. In fact it was trading above $1 back in 2006 or 2007, during the euphoric days of S-chip. Of course that does not mean it will go back to that level again.

Please note that this is company that since IPO has been profitable and still has zero gearing. For the last few years it has been trading below NAV. Even if NAV is mostly in the category you have highlighted the discount seems too steep.
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#13
Yeokiwi,

It did trade above IPO price. In fact it was trading above $1 back in 2006 or 2007, during the euphoric days of S-chip. Of course that does not mean it will go back to that level again.

Please note that this is company that since IPO has been profitable and still has zero gearing. For the last few years it has been trading below NAV. Even if NAV is mostly in the category you have highlighted the discount seems too steep.
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#14
Company just announced results. Huge impairment loss of non-current assets.

Based on the result of independent valuer’s report, there was a shortfall of approximately RMB377.8 million to the carrying value of the Group’s non-current assets using the financial data for the period ended 31 July 2012. The shortfall was mainly due to the following factors; (i) changing market demand in all segments; (ii) keen competition from existing local players and new market entrants, and; (iii) unexpected deterioration of operating performance due to recurrence of breakdowns of machines.

Wonder when will all these end. Good example of need to be careful about low price to book ratio. Confused

Not vested.
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#14
Company just announced results. Huge impairment loss of non-current assets.

Based on the result of independent valuer’s report, there was a shortfall of approximately RMB377.8 million to the carrying value of the Group’s non-current assets using the financial data for the period ended 31 July 2012. The shortfall was mainly due to the following factors; (i) changing market demand in all segments; (ii) keen competition from existing local players and new market entrants, and; (iii) unexpected deterioration of operating performance due to recurrence of breakdowns of machines.

Wonder when will all these end. Good example of need to be careful about low price to book ratio. Confused

Not vested.
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#15
Who is interested ? I am not vested.

A renounceable non-underwritten 2 for 1 right issue @ issue price of S$0.70 per rights share with 1 free warrant for every 2 rights shares.

The Exercise Price of the warrant is S$1.05,  represents a premium of approximately 24.3% to the volume weighted average price of S$0.845 per Share for trades done on 20 April 2016.

As at the date of this announcement, the Company has an issued share capital comprising 4,860,956 Shares. Accordingly, up to 9,721,912 Rights Shares with 4,860,956 Warrants will be issued pursuant to the Rights cum Warrants Issue.

More details in http://infopub.sgx.com/FileOpen/CFP-Prop...eID=425772
Specuvestor: Asset - Business - Structure.
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#15
Who is interested ? I am not vested.

A renounceable non-underwritten 2 for 1 right issue @ issue price of S$0.70 per rights share with 1 free warrant for every 2 rights shares.

The Exercise Price of the warrant is S$1.05,  represents a premium of approximately 24.3% to the volume weighted average price of S$0.845 per Share for trades done on 20 April 2016.

As at the date of this announcement, the Company has an issued share capital comprising 4,860,956 Shares. Accordingly, up to 9,721,912 Rights Shares with 4,860,956 Warrants will be issued pursuant to the Rights cum Warrants Issue.

More details in http://infopub.sgx.com/FileOpen/CFP-Prop...eID=425772
Specuvestor: Asset - Business - Structure.
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#16
Lol rights and warrants, they forgot share placement to Sam goi, need to find some Thais or indon to vest as well.

sent from my Galaxy Note 7
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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#16
Lol rights and warrants, they forgot share placement to Sam goi, need to find some Thais or indon to vest as well.

sent from my Galaxy Note 7
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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#17
Another MBO. Based on sharevestor's factsheet on this company, it has lost ~98% of its value since IPO in 2004. A good case of sell high/buy low i presume - It sold 104mi shares @75cts netting ~78.7mil gross proceeds, and is now spending ~6-7mil to privatize it again (i have ignored any rights issue along the way conveniently)

Shareinvestor factsheet: http://www.shareinvestor.com/fundamental...ounter=BCX


VOLUNTARY UNCONDITIONAL CASH OFFER for CHINA FLEXIBLE PACKAGING HOLDINGS LIMITED 
Tata Capital Markets Pte. Ltd. (“TCMPL”) wishes to announce, for and on behalf of Harmony Gowell Company Limited (the “Offeror”), that the Offeror intends to make a voluntary unconditional cash offer (the “Offer”) to all the shareholders (the “Shareholders”) of China Flexible Packaging Holdings Limited (the “Company”) for all the issued and paid-up ordinary shares of the Company, with a par value of US$0.01 each in the capital of the Company (the “Shares”) other than those Shares owned or controlled, directly or indirectly, by the Offeror as at the date of the Offer (the “Offer Shares”). The Offeror also intends to make an offer (the "Warrants Offer") to holders (the "Warrantholders") of outstanding warrants issued by the Company (the "Warrants") each Warrant carrying the right to subscribe for one new Share (the “Warrants Share”) at an exercise price of S$1.05 for each Warrants Share. 

http://infopub.sgx.com/FileOpen/Project%...eID=458226
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#17
Another MBO. Based on sharevestor's factsheet on this company, it has lost ~98% of its value since IPO in 2004. A good case of sell high/buy low i presume - It sold 104mi shares @75cts netting ~78.7mil gross proceeds, and is now spending ~6-7mil to privatize it again (i have ignored any rights issue along the way conveniently)

Shareinvestor factsheet: http://www.shareinvestor.com/fundamental...ounter=BCX


VOLUNTARY UNCONDITIONAL CASH OFFER for CHINA FLEXIBLE PACKAGING HOLDINGS LIMITED 
Tata Capital Markets Pte. Ltd. (“TCMPL”) wishes to announce, for and on behalf of Harmony Gowell Company Limited (the “Offeror”), that the Offeror intends to make a voluntary unconditional cash offer (the “Offer”) to all the shareholders (the “Shareholders”) of China Flexible Packaging Holdings Limited (the “Company”) for all the issued and paid-up ordinary shares of the Company, with a par value of US$0.01 each in the capital of the Company (the “Shares”) other than those Shares owned or controlled, directly or indirectly, by the Offeror as at the date of the Offer (the “Offer Shares”). The Offeror also intends to make an offer (the "Warrants Offer") to holders (the "Warrantholders") of outstanding warrants issued by the Company (the "Warrants") each Warrant carrying the right to subscribe for one new Share (the “Warrants Share”) at an exercise price of S$1.05 for each Warrants Share. 

http://infopub.sgx.com/FileOpen/Project%...eID=458226
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#18
Those who were brave enough to subscribe to the rights issue plus free warrants had been handsomely rewarded. After all, it had only been a few months after the rights issue closes and this offer came.

Sent from my Elite 6 using Tapatalk
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#18
Those who were brave enough to subscribe to the rights issue plus free warrants had been handsomely rewarded. After all, it had only been a few months after the rights issue closes and this offer came.

Sent from my Elite 6 using Tapatalk
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#19
Very few would have been brave enough to do so, given the available information and history of CFP, and reputation of s-chips. Doing so would have been deem highly speculative, as there wasn't much basis (other than its appearance of cheap valuation) to buy the shares and/or subscibe to the rights.

I wouldn't encourage taking risk for such ventures (i.e. s-chips and alike stocks); sooner or later a bad punt will reverse the previous gains.
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#19
Very few would have been brave enough to do so, given the available information and history of CFP, and reputation of s-chips. Doing so would have been deem highly speculative, as there wasn't much basis (other than its appearance of cheap valuation) to buy the shares and/or subscibe to the rights.

I wouldn't encourage taking risk for such ventures (i.e. s-chips and alike stocks); sooner or later a bad punt will reverse the previous gains.
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#20
This does not bode well for SGX in my opinion. Even the so called "junk" S-Chips are slowly delisting one by one and it is essentially a question of which one is next. I certainly don't foresee this trend abating. Meanwhile, the number of listings is drying up and SGX is getting thumped by HKEX. Worst example of all is Osim delisting from SGX and shortly thereafter IPO in HKEX. Total slap in the face for SGX.

They really need to do something to attract companies to list here other than being a place known only for spinning off Reits and Business Trusts.

As for which S-Chip is going to delist next, I do have a few potential candidates...
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#20
This does not bode well for SGX in my opinion. Even the so called "junk" S-Chips are slowly delisting one by one and it is essentially a question of which one is next. I certainly don't foresee this trend abating. Meanwhile, the number of listings is drying up and SGX is getting thumped by HKEX. Worst example of all is Osim delisting from SGX and shortly thereafter IPO in HKEX. Total slap in the face for SGX.

They really need to do something to attract companies to list here other than being a place known only for spinning off Reits and Business Trusts.

As for which S-Chip is going to delist next, I do have a few potential candidates...
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