The SCMP article on the demise of First Natural Foods Holdings Limited is a case in point. The company was detailed in Hong Kong and ran a business of selling a range of foods like the highly popular and valuable abalone from its headquarters in Fujian Province. June 2008 In, it reported shareholders’ funds of RMB1.2 billion and cash of RMB630 million.
In other words, the audited accounts demonstrated a very solid and liquid balance sheet highly. Within a matter of months, the business managed to pretty much implode. In January 2009 the Hong Kong courts declared the company to be insolvent. The insolvency begged the obvious question – what happened to the cash? At this time it would appear that the answer may never be known.
- A $1,000 par value connection is outlined as offering at 92 1/8 presently. This means
- Net Investment Income =- Interest
- 08-071529 SIBLEY, EFFIE Pecos County
- My AU/NZ equities were flat. There have been no transactions this month
- Three electives (10 credits each) and an Applied RESEARCH STUDY (20 credits)
- This one has exactly zero security so well donee Funding Secure
Ernst & Young were appointed as liquidators. The reality is that shareholders have no remedy for situations like this. The First Natural Foods case is no isolated incident. There are many similar stories of inexplicable insolvencies of Hong Kong outlined companies. The exceptions make up an extremely small percentage of the portfolio.
If you look at P/S Ratio, calendar-year median is 0 the 10.16 and the current one at 0.25, using 12-month Revenue is some 59% higher. For CFPS using the last 12 months of cash moves, shows an ongoing P/CF Ratio of 5.Calendar-year median P/CF Ratio of 2 28 and this stock have a 10.48. The existing the first is some 113% higher. On a member of family basis both these tests show a relatively expensive stock price.
However, completely, a P/S of 0.25 and a P/CFPS Ratio of 5.28 are both good ratios. You must wonder why shareholders put such low beliefs on P/S Ratios and P/CFPS Ratios for this stock. It is also interesting that analysts’ have given suggestions with this stock, but these same analysts, aside from some EPS estimates, do not give estimations because of this ongoing company.
The analysts’ recommendations are Strong Buy, Hold, and Underperform, with the consensus suggestion a Hold because most of the suggestions are a keep. 67.80. This suggests a total comeback of 7.82% with 7.50% from capital gain and 0.32% from dividends. A recent Financial Post article says that one is fairly appreciated as cash limits near-term development.
Another recent financial post article says that RBC Capital Markets has downgraded Onex on development concerns. Sound bit for Twitter and StockTwits is: Increasing dividends but expensive. See my spreadsheet at ocx.htm. I’ll have only 1 entry for this stock as I have to do on some stock because I cover too many stocks to do double entries on everything I follow. Onex is one of North America’s oldest investment company committed to acquiring and building high-quality businesses in partnership with talented management groups. Onex manages investment platforms centered on private collateral, real estate and credit securities.