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Author: TMFTheSnake Big red star, 1000 posts Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1656  
Subject: Asian Citrus punches holes in Anonymous Date: 10/7/2011 11:22 AM
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http://www.hkexnews.hk/listedco/listconews/sehk/20111006/LTN...

Asian Citrus has released a statement in which they address several of the issues raised by Anonymous in its report on Chaoda. While these statements don't necessarily have anything to do with the accusations against Chaoda and Kwok Ho, it is another side of the story.

A few snippets:

As in all supply contracts, we consider many factors. Price and quality of the fertilizers are obviously important factors. We also look at reliability of service and delivery as well as spreading our risk. In fact, the fertilizers supplied by Fujian Chaoda are not only the best quality, but also very price competitive. Accordingly, they consistently win the tender.

...our purchase of fertilizers from Chaoda has decreased from RMB47 million in FY2010 (~28% of total fertilizer usage) to RMB34 million in FY2011 (~17% of total fertilizer usage). This is because other suppliers have become more competitive in the current years and we continue to diversify our suppliers.

As a final point, had we not used Fujian Chaoda at all in 2010/2011 the overall fertilizer costs would have increased by 2-3%.


The statement is presented as an interview, but the interviewer is Corporate Focus Ltd, a financial marketing advisory consultant which "assist listed companies to communicate more effectively, attract attention from the proper media channels and the financial community."

http://www.corporatefocus.org/asp/general.asp?MenuCatID=2&am...

Take it for what it is.
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