Forum Archive Index - August 2002

["Malcolm Cameron" <malharcameron@hotmail.com>]

JIM it is you that is emotional no profit for citic in china stopping buying 
logs until it is in position to benefit from it. On the scenario advanced it 
does not lose two hundred million, it makes a takeover offer when 
receivership is threatening at about 1cent. Who will refuse it then 
purchases logs in bulk, puts in a capital injection and it still has CNIP & 
FFS for a song.
Malcolm This sort of scenario put to me nearly 5 years ago when bickering 
over CNIP was in early stages. By a chinese with joint Australian & Chinese 
nationality and very large international share holdings. He did not like 
holding shares in any thing that Citic had major share holdings in as he 
said those companies would be manipulated to either benefit Citic or Chinese 
Govt. You seem to think all companies are run on business ethics, have a 
look at Enron & Worldcom.
Malcolm

>From: "Jim McMillan" <seechoke@hotmail.com>
>Reply-To: sharechat@sharechat.co.nz
>To: sharechat@sharechat.co.nz
>Subject: [sharechat] FFS & CNIF - Same Old Emotional Tripe
>Date: Fri, 16 Aug 2002 06:12:02 +0000
>
>Same old pathetic tripe using emotions (rather than logic) about 
>Citic/China and CNIF - if China stops buying logs, FFS goes broke and Citic 
>buys FFS for 1 cent.  Number 1 - Citic has US$200m to lose itself first and 
>the Receiver of FFS is not required to sell to Citic but to the highest 
>bidder.  Number 2 - If China is indeed that pivotal to log prices, why 
>doesn't China simply stop buying NZ logs now, send the whole blinking 
>industry to the wall and buy CNIF for US$200m? This is business - not 
>emotion at play.
>
>
>
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