London Asia Chinese Private Eq.F Share Discussion Threads

[robsy2] 24/6/2008 17:35

Looks grim. I just find it hard to believe that there is no value there given the fund raisings on some of the stocks and the institutional client base....
What is it that they could be doing that is going to send seemingly good businesses down the pan?

[capt bligh] 17/6/2008 13:39

Eg yep I agree CEG total disater.. still cesg looks a good one so not all bad

[damanko] 17/6/2008 13:06

egoi, I think nick is correct, regarding the situation with CCEP. Also, the LCP NAV is already considered with great caution, the share price alone tells us that. Whatever, it'll be interesting to see how this pans out in a few years.

Most ADVFN posters (but by no means all), don't seem to have the patience for this kind of time frame. Part of me thinks I've made a mistake by putting money into LCP, knowing what I did at the time, about London Asia. Anyway, time will tell....

[nickcduk] 17/6/2008 12:52

EGO - I think your slightly confused about who owns the stake in CCEP. I believe that position is held by the fund rather than LDC.

[egoi] 17/6/2008 12:37

Damanko, the LDC stake in CCEP - alone - appears to be worth the entire LDC market cap.

So why is LDC suspended, unable to produce accounts on time, and announcing such negative RNSs?

On the face of it including cash and all their investments I suspect LDC would have a nav of something like 10p a share. Yet it is suspended at under 3p.

Given that some of the same people are involved in LCP I think the LCP nav must be considered with great caution - and I would personally factor in a very large discount into the share price for its management.

PS: Cap, I agree with your comments re CNE, trouble is, we both thought that about CEG at one time!

[capt bligh] 17/6/2008 12:07

China new Energy's delayed results have not helped either...I think they are a very good concern

[damanko] 17/6/2008 12:01

As you (so rightly) say Buffin, FWIW ....

I bought some of these early 2007, and carried on buying on a monthly basis for 6 months or so. I saw it as long term stuff then, and still do. However the tie in with London Asia always bothered me, I posted the comment (shown below), and didn't really get much in the way of an answer. I knew at the time that London Asia itself was regarded with suspicion by people in the City, you only have to look at the other BB thread to see that these suspicions appear to have been valid, and a lot of PI's will have lost money there.

Although I remain a little wary of Simon Littlewood & the other people behind LCP, the business model still seems okay, & the news emanating from the fund is generally positive. Unfortunately the negative stuff coming from London Asia, in terms of RNS's & general BB comment - continues to have a drag on the LCP share price. If the NAV you mention is even 75% correct, the fund itself should prosper. Eventually. With current market sentiment though, it may take a year or so to sort all this out.

From my post 116, a little over a year ago:

"For those of you with decent knowledge of London Asia, is there an image / historical problem with the City boys? Doesn't seem very well regarded in the square mile, I just wonder if there is any particular reason?"

[buffin] 17/6/2008 11:20

FWIW, the FT's daily price quotes report a NAV of 131.3.

[robsy2] 13/6/2008 16:05

Thanks egoi
I'm not related to the management though I have read the LDC thread, well I used to before I sold out! I hear what you ae saying though.

[egoi] 13/6/2008 11:40

Robsy I wish you luck, however I fear you will need shedloads, and that might not be enough imho.

The repeated - and deeply disturbing - accounting failures of people involved also with this company, imho, should be enough for any investor to believe there are better places for their money. I suggest you have a read of the LDC thread more thoroughly.

We have had posters before on these companies threads who some think are related to management. Your last post makes me wonder!!

[robsy2] 13/6/2008 11:31

egoi

Heh heh! Again joking aside, I admit I am a bit flummoxed by this one.I exited LDC some time ago money, more or less intact.LDC needs money, so they need to exit LCP investments and get some of the fees pending.
I will see how it plays out, it trades at a deep discount,though it always seems to track down with the Chinese market,it never tracks up.
Has a decent roster of Institutional investors as well which could provide some comfortand what looks to be a red hot set of investments.......

[robsy2] 12/6/2008 19:49

Posted on LDC site for completeness

I wouldn't be too hard on LCP. Despite the fierce head wind ie.it appears to be the deals that make the money for Littlewood et al, further down the line you'll find the likes of me ,the poor shareholder.

I feel that, despite all the fuss,and the creaming off of money, commissions of 5% are common etc etc and perfectly legal; if they can't make money and create a bit of shareholder value in China given their postioning and the fact that these fast growing companies are getting new capital, someone must be doing their due diligence? then I will be very surprised and a bit poorer!

[robsy2] 12/6/2008 18:30

So whats the view now?
I'm just about ready to cut and run on this one.Seems like the whole thing is a complete shambles.

[nickcduk] 12/6/2008 07:32

I see Painting is still alive and hasn't done a runner from the authorities yet.

[buffin] 12/6/2008 07:21

Simon Littlewood, Fund Director, said: 'The market value of our two Singapore listed water investments currently totals £10.3 million, a decline of £4.0 million, or 8.0p per share, from the value at 30 September 2007, when the Fund reported net assets of £68.4 million, equal to 136.7p per share. Whilst in the last several months the share prices of our water investments have been hit by the credit crunch, which has made raising debt for their BOT, TOT and BOO projects much harder and more expensive, this is a short term phenomenon and we are very comfortable with the opportunities in the sector, and the ability of the businesses to continue to win projects and raise finance, as they continue to demonstrate.'

[robsy2] 06/6/2008 15:28

Yep thats the one

[buffin] 05/6/2008 19:15

Collins Stewart?

[robsy2] 05/6/2008 16:53

I saw one from the broker , name escapes me, let me know if you want more info.
P

[buffin] 05/6/2008 15:46

Hopefully we went through the process at our last full year results that LDC are starting out on now, a rigorous review by new management independent of the founders.

What research reports have you seen, Robsy2?

[robsy2] 05/6/2008 15:33

Well the debacle at LDC is affecting LCP.LDC is a dreadful organisation. I sold out some time ago. It is a shame , they promised so much but were unable to deliver. I have kept hold of LCP because the value looked too good to give up on . The research reports I've seen confirm that the NAV of LCP has grown impressivley. It still looks like a hot ticket but inevitably tainted.I'll sit it out.
Any comment welcome!
R2

[robsy2] 25/4/2008 14:05

blimey an uptick!