► President Hanoimilk for Bloomberg said "not any organization directly questioned me about acquisitions and mergers" ...
The rumors about the possibility of acquiring businesses Milk Joint Stock Company Hanoi (Hanoimilk, code: HNM-HNX) is the main thrust of the corporate stock prices to increase 100% in the June 9 session this.
However, Bloomberg has confirmation from President Hanoimilk that "without any question the organization directly to me about it."
Acquisition, acquisition - the old way
Many stock forum the past few days brought up the possibility Hanoimilk information is a big business in the same industry or planned acquisitions acquired distribution system. There is even a "spying" from foreign firms milk or some foreign funds. Even information on the purchase price negotiations were also hinted on the forums.
However, discussions with Bloomberg, Mr. Ha Quang Tuan, Chairman of the Board said Hanoimilk information acquisition, merger Hanoimilk had a few years ago, not new. Looking forward to the cooperation of enterprises and other organizations to Hanoimilk is, foreign milk companies interested.
"I am currently representing a group of shareholders controlling shareholder in Hanoimilk. If there is any organization that wants to invest or buy Hanoimilk must discuss directly with me. However, I have not received any formal proposal. I think that if organizations want to buy it, to have official contact, decent question. If they do not do it, it's just rumors, "Tuan said.
Hanoimilk "countered" takeover rumors 1Tren theory, a business acquisition opportunities as Hanoimilk is there, but the new market factors are the main barriers.
Hanoimilk President also added that due Hanoimilk stock price is currently low, below face value should also not be issued for external partners. Other organizations if they want to invest in Hanoimilk also acquired ownership of all or a large amount of shares. If the sale of shares made at this point would be detrimental to the former shareholders. On the other hand Hanoimilk group's major shareholders do not intend to sell the shares.
"When the surf stock Hanoimilk, I sent a letter to the shareholders does not require transaction. I affirm the Board, shareholders of Hanoimilk not related to price volatility of the past Hanoimilk, "Tuan said.
Perhaps the market is not random rumor acquired, merged related Hanoimilk earlier this month.
Rumors came out at the right time Hanoimilk campaign started selling new products quite heavily. Tuan said Hanoimilk has achieved some success as proprietary formula S + by the National Nutrition Institute and research into new products.
However, from a market perspective, such information should not be thrust generated strong share price to 100%, because the transition from basic elements need to be tested from time to business activities carried health. On the other hand, throughout the forum, public opinion hardly know this information, while focusing on the ability Hanoimilk acquired, merged.
Rumors have greater impact and create more reasonable excuse for the daily price fluctuations. Activity or anti-takeover acquirer will affect the stock price. On the other hand, if Hanoimilk acquired real meaning other businesses see the potential in this business. The rumors have hit the psychological interpretation of the market, as well as the logic of information.
Hanoimilk is trading at around the end of March 4000 and 5/2013, when there is no "waves". The mass circulation only 12.5 million shares, the market value of only 50 billion business. Meanwhile Hanoimilk equity by the end of quarter 1/2013 is 130.2 billion.
Also, with a special milk producers, but Hanoimilk despite difficulties maintaining production activities, there is a market and there are special distribution system complete. With a cost that is 50 billion market opportunity as well as production infrastructure is too cheap.
In theory, a business acquisition opportunities as Hanoimilk is there, but the new market factors are the main barriers. If Hanoimilk with a dispersed shareholder structure, the ability to acquire is easy. Conversely, Hanoimilk holdings are dominated by a group of shareholders do not intend to sell out, even when other organizations hold the remaining shares will not be able to take over the business.
If merely act as a major shareholder or an associate, the basic elements of Hanoimilk not attractive enough.
Hanoimilk "countered" takeover rumors 2Cong additional losses from 2010 onwards, Hanoimilk have recorded accumulated losses of 61.9 billion, almost dilapidated surplus is due to issue shares appreciated the previous year.
Earnings bump
You 1/2013 past, Hanoimilk reported a net loss before tax of 1.3 billion. This is the third quarterly loss for the latest quarter 6 of 11.
Compared to the same period in 2012, revenue fell nearly 22% Hanoimilk. Net revenue in the quarter 1/2013 is 40.7 billion, the lowest since quarter 4/2008 (35.8 billion), suffered Hanoimilk time of market crisis.
In the past 5 years, Hanoimilk trying to overcome the crisis and recovered only with very low levels of profitability. In 2010, Hanoimilk comprehensive restructuring, reduction of investment projects outside the industry, which is mainly real estate, leading to a loss before tax of 21.4 billion.
Plus losses from 2010 onwards, Hanoimilk have recorded accumulated losses of 61.9 billion, almost dilapidated surplus is due to issue shares appreciated in previous years. This is a burden for Hanoimilk to the present time.
Although Hanoimilk just launched a new product but the ability to create mutations in business results is difficult, especially in the short term. Competitive factors in the milk market is very high.
The only positive point is Hanoimilk are trying to reduce the cost of capital. Gross profit margin quarter 1/2013 was raised to 19.2%, a significant improvement compared to quarter 4/1012 and higher than the same period last year (18.7%). However, financial costs, sales costs, management costs businesses not improved clarity in the latest quarter to 5 main factors can make a profit is not different still increase revenue.
Speaking to Bloomberg, Mr. Ha Quang Tuan said quarter 2/2013 Hanoimilk new product expectations and actual monthly sales have increased in the first 5 months of this year.
"However, this growth has not met the company's expectations. Hanoimilk are focused to promote their products, boost sales to marketing costs are very large, "he said.
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