3 thoughts on “Zhongmin Baihui – Overvalued S-Chip Chinese Retailer with Weak Performance, Sub-Par Corporate Governance and Questionable Related Party Transactions”
Comprehensive analysis, well presented.
Unfortunately, it has very low liquidity and is possibly a ‘cornered’ stock despite the fact that 18.2% is owned by ‘public investors’ – very hard to short.
Zhongmin Baihui Retail Group Ltd will be doing a share placement at SGD1.75, representing a 4.6% discount over 06 Mar 2015’s closing price of SGD1.835.
AsianExtractor: Unearthing Accounting Fraud in Asia 
Comprehensive analysis, well presented.
Unfortunately, it has very low liquidity and is possibly a ‘cornered’ stock despite the fact that 18.2% is owned by ‘public investors’ – very hard to short.
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Not announced over SGX yet.
Zhongmin Baihui Retail Group Ltd will be doing a share placement at SGD1.75, representing a 4.6% discount over 06 Mar 2015’s closing price of SGD1.835.
Looks like they’re trying to boost liquidity.
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Private placement done:
http://infopub.sgx.com/FileOpen/_FORM1%20-%20SU%20CAIYE.ashx?App=Announcement&FileID=338688
Su Caiye sold 1,492,000 shares at $1.75 each in a married deal, ownership declined from 13.64% to 12.88%.
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