Primary tabs

No more negative surprises from Sino Grandness

Michelle Zhu Published on Thu, Aug 11, 2016 / 3:47 PM GMT+8

A-

A+

SINGAPORE (Aug 11): Sino Grandness Food Industry Group is worth considering at its current price of 54.5 cents as the stock is still trading at “unchallenging levels” in NRA Capital’s view.

To recap, shares of Sino Grandness plunged 30.5% on June 6 to just 42 cents after an online article in China listed 310 food and beverage products that were recently inspected by Hubei authorities. In June, the stock had hit a high of 78.5 cents.

“Based on Sino’s announcement in response to a query by the Singapore Exchange, some members of the investment community apparently misread a third-party article to suggest that some of its products have failed the test,” says analyst Liu Jinshu in an unrated report on Wednesday.