Creative issued a profit warning cited reasons like weakening of US dollar. I suspect the MP3 business continue to weaken. The market is obviously saturated now as whoever wants to own a MP3 player would have got his/her by now. Almost all the new cell phone is playing MP3 very well. So, who needs a MP3 player? I have been long avoiding technology company, because of the volatile business and often supply demand mismatch.
China Energy said it engaged the PWC to conduct review on the additional payment for acquiring Jiutai Energy (Guangzhou) Co. Ltd. Where does the 190m RMB have gone? Management offered some explanation, but I don't think anybody is listening. When a third party is called into action, people assume the worst case, sell first. Especially at the current choppy time, there is no way to go but down.
Bio-Treat is on the news again. This time on the ability to redeem S$206 million of bonds. Merrill Lynch maintained the sell call on the counter as there are few issues hanging in the air. Since I sold off the counter, it did surge a bit, but to give back the gain now. I always think if there are issues with the management, it create uncertainty and it is best to sell.
Monday, 24 March 2008
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