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Re: [sharechat] RCH - Richina Pacific

From:	"Dannie Hawkins" <dannie@es.co.nz>
Date:	Wed, 23 May 2001 07:23:41 +1200

The fundamentals appear good. "Written down" asset backing is well over $1 a share, eps about 6.5 last year.

Company has forecast higher profits this year. I read somewhere that Mainzeal profits are expected to increase this year and the contribution from China this year will triple. If this is true the eps could easily double this year.

Possible sale of their office tower and or NZ Leather will lower term debt.

May also be a takeover target as overseas interests mop up before the takeover code comes into force.

On the downside, this company has shown false dawns before. They seem to have the ability to seize defeat from the jaws of victory. Cashflows are often dodgy.

Disclosure hold Richina

Regards Dannie

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Re: [sharechat] RCH - Richina Pacific Ben Dutton

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