Member Info for Del44

Results out this Thursday. AGM to be held on the 18 June.

China Gas Holdings Limited (00384) announced that Liu Minghui has been appointed as the executive chairman of the board with effect from 18 April 2013. Liu is currently the executive director, managing director and president of the company. Given the expanding business and the introduction of new marketing strategy of the company, the board considers that it is appropriate to appoint an executive chairman for the board to represent the company for external affairs in order to improve the efficiency of daily business operation and ensure high standard of corporate governance. Also, Jo Yamagata resigned as a non-executive director of the company with effect from 18 April 2013 because Asian Development Bank (a shareholder which nominated Yamagata as director for the consideration of the board) is no longer a shareholder of the company. Moon Duk-kyu has also resigned as a non-executive director of the company with effect from 18 April 2013 due to his transferral from SK E&S Co., Ltd., his former nominated company, to SK Networks Co., Ltd. Further, Chen Xinguo and Yu Jeong-joon have been appointed as an executive director and a non-executive director respectively with effect from 18 April 2013.

As I posted below...its up to the ceiling now and may very well stay sought after in the market... GL....

Its in a good market, growth wise! The company looks well run and have planned in advance. They also have a widening customer base that has good potential to expand as all indications are for this technology to only increase as maritime activities grow.. The technology platform has room for product expansion which is certainly nice from a potential investment stand point They have by no means got the market to themselves.... http://www.bis-el.com/downloads/file/Presentations/MarineAISInfo2009.pdf and repeat business can be a problem as "shelf life" for their products has longevity.. But I noted that Simon Tucker, CEO looks now to be addressing this down the road issue... Its 5 year chart is also now showing recovery, which looks bullish but short term is approaching a ceiling!! Its an interesting company in a growth field but need to check if it has patented its technology.. Cheers..

Just out the door...but on first glance... Very reliant on main backer which controls huge amount of shares.. Might be easy to get into but not to get out of due to liquidity issues.... Customer base does not look very diversified and gearing is high considering its not making profit... On first glance...I would not be a buyer of this stock, but will have a better look later on... Cheers...

...the unit price of gas across many parts of China, even though the central Government's stated policy is not for price rises....But as we head into a warmer season, I suspect that the economics of higher prices are hitting home to those who understand market forces..... http://www.aastocks.com/EN/ltp/LTP_RT_Quote/HK6/NOW.538025.html The simple fact is, China has not developed it's own resources quickly enough to meet the growing domestic demand for gas. I expect it is growing much faster then anticipated and this is putting huge losses on the likes of Petrochina, Sinopec etc..... They buy high on the open market in Asia and then have to sell at much reduced prices into the domestic market, producing enormous losses for said companies.... The new Government has to act quickly in this sector.. They must lessen the red tape involved in developing potential gas fields as well as increase tax credits for those involved in exploration of CBM and shale gas etc....or prices will continue to move against the stated policy of the administration....

It means that some of the 4.6% GAIL own will now come on the market. CGH is very tightly held after the failed bid last year. The deal may be an off trade deal which could be bought by CGG or even outright by FTO. This could expose us to a bigger slice of the gas market in China... Gail India have been muscled out of this position, make no mistake. Others may follow.....

GAIL India, state-owned gas utility is planning to divest 4.6% of its stake in Hong Kong-listed, city gas distribution firm, China Gas Holdings. http://indian-commodity.com/corporate/gail-india-to-divest-4-6-stake-in-china-gas-holdings.aspx

Your comment regarding dividends.... I am not so positive... Until we know exactly what the bod plans are, we can't assume they will continue paying a divi...Due to foreign currency restrictions in China, they may opt to have divi paid in shares in CGH..I do expect a divi for the year ending 2012 as we were still the asset owners and so entitled to full profits contributions... But going forward I don't believe it is as clear. Today's announcement adds more clarity to holdings in CGH but we need a lot more. I suspect getting approval for the asset deal is the next major step(which can not be taken as certain) and then hopefully getting associate status which will allow merged accounts... Results in next 2 weeks...

The bid/offer was around 8p or lower for the last few weeks. with most of the selling @ 8p on the big trades. Late yesterday the bid price started moving up well above 8p for the first time, which could be perceived as the end of the L&G selling. Also selling has been about 3-1 but the sp was managing very small moves up. It just maybe an early indication that L&G over hang is near end or at an end!!! Its not science...:)

....may be near completion. L2 apparently seems to have turned positive.....We could be back to normal trades.... Hopefully...

By the way, we currently yield 2.3% @ 7.75p Either the market thinks this will no longer be paid out...or it is quite attractive at this price

I would imaging with all that is happening to this company, the dividend may not be as certain as some seem to think.. The dividend policy is to pay out 20% of ATP to shareholders. However with the company under going a major restructuring of assets, the dividend may no longer be a priority for the board.. Of more pressing concerns for the board will be MOFCOM approval. Following that will be associate status for FTO with regard to their overall holding in CGH. That could be known around the end of the third quarter 2013 at the earliest..That decision could have huge implications for FTO and its SP if granted!! Until then...profits for full year 2013 could be substantially down on 2012 (hopefully 2012 will be better then 2011) as gas profits drop out and the Maoring point becomes a minority interest.... But as I said earlier, we should have some better understanding by the end of the month...or not!!...:)

Approval from this body is the last condition to be met... http://www.fortune-oil.com/upload/R2466_CLEAN.PDF If and when approval is granted, then the transaction will be completed 10 business days from then.. A decision is expected in the 2sd quarter.. Considering what went on last year when the bid from Sinopec dragged on and on and on and on.....owing to a lack of decision from this body MOFCOM....it may be no wonder the sp is not heading up.... We await approval...:)

Actually Chris....I think crusher sums it up rather nicely, to be honest...:)

This from iii...Thanks Phil. http://sinoshipnews.com/news_content.php?fid=3w3c1168 Jag 3 asks is this business part of the gas sale?.... The answer is...YES it is..

Cross post there Chris... I think working on a direct interest to FTO of 9%...I would say £250 million would not be to liberal a view... A word of caution here to my mind... We have changed into a minority holding company with the gas deal going through (although, we need to hear from MOFCOM before counting chickens on this deal) and so PE ratios dont really count in determining how cheap we may or may not be at present..NAV will become more to watch and our NAV ranges between 14p and 26p depending on which way you chose to look at FTO.. So although we may be trading at a steep discount to NAV (whichever price you look at) we still may not be regarded as cheap...simply because we have no real control over these assets. It is different from owing and controling your own destiny...

Thanks Chris but i wouldn't say I am a fountain of know,edge here....just making sense as best I can like us all... However there always seems to be a mix up over FTO's (whom we are shareholders in only) stake in CGH and the rest... Main point of note is that FortuneMax (beneficially owned by Daniel Chieu) is obliged to sell at cost to CGG, any shares purchased in China Gas Holdings. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FTO&ArticleCode=jlrq567p&ArticleHeadline=Re_China_Gas_Holdings Currently China Gas Group has not called upon this. Also, all shares bought from FortuneMax will be bought by CGG on a 50/50 basis between Minghiu & FTO. Also Minghiu has his own personnel holding in China Gas Holding that are not directly attributed to CGG. All of which can lead to the mess & mix up over stake. For simplicity's sake, I work on a net 9% stake attributed directly to FTO presently. For the purpose of China Gas Holding's shareholder account...associate status is given to Minghiu, FortuneMax & CGG total holding (remember Minghiu has shares which are his own solely and nothing to do with CGG) which is nearer to 22% of CGH Regarding L&G...they made a mess of the placing and now hold over 70 million shares in FTO at 26% less in the market.. Total tools...:)

I have seen them before on quite a few occasions.... There just computer trades by a trader/traders.....When you have limitless trades on your account in a month...you can buy any way you want and not really have to worry about commission....:) Depends on the programme you run to execute your trades....

Sorry..delayed trade from last Thursday....:)