Updates

West China Cement

March 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

West China has issued US$400m of new bonds repayable in 2016 at par until which time these will pay an annual yield of 7.5%. The yield reflects the fact that credit ratings agency Moodys has given it a speculative grade of Ba3. The proceeds will be used to refinance its debt. It will also be well placed to make acquisitions with net cash now around US$314m. Originally a main write-up at 9.2p in March â€˜10 and added to the portfolio the following month at 9.6p the shares have performed very well, with the gain now 149%. Sell at least half if you've not already done so. ...

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Shaft Sinkers

Greene King - Acquires Cloverleaf

West China Cement - Making big gains in Hong Kong (October 2010)

West China Cement - Issues Hong Kong prospectus (September 2010)

West China Cement (July 2010)

West China Cement (May 2010)

West China Cement (April 2010)

West China Cement - Hong Kong listing should trigger massive re-rating (March 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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