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18 January 2016
Thanks for your questions posted over the past week. I am happy to answer your questions online. I will repost the questions in blue italics followed by my comments in black.
Kenny the fish
Dear Paul Tan, you wrote:
Qian Hu share price has drop below S$0.20 again, will you consolidate again or transfer to catalist?
Hi Paul,
Qian Hu still have time to improve its business and use other methods to fulfill the Minimum Trading Price requirement. We do not wish to transfer to the Catalist board. The Board has incorporated robust corporate governance and do not see the value added from having a sponsor.
Happy New Year!
Kenny the fish
Dear David Tan, you wrote:
It seems the value of the Batu Pahat land parcel has dropped below the outstanding debt amount of S$3.72 million since 30 September 2015 . May I know the value of the land parcel as at December 2015?
Hi David,
The Batu Pahat land parcel is for the Year 2014 and partial Year 2015 payment. Qian Hu has a new installment agreement with the Kim Kang owner for the Year 2015 payment which our auditors concurred to be sufficient.
Happy New Year!
Kenny the fish
Dear Tan Ping Chu, you wrote:
Qian Hu's revenue has been flat and declining for the past 4 years. After you sold kim kang at a huge loss, the next 3 years you barely broke even. You said your business is not in a sunset industry. I think the financials speaks for itself.
Hi Ping Chu,
Our industry is perceived to be sunset based on historical financials. To Qian Hu, industries have no sunset issues as long as it can be transformed. Sunset in Singapore is sunrise in New York. The sun never sets, it's a matter of mindset.
For the past few years, Qian Hu has been trying very hard to transform its business but many external factors affected its progress. It is not my habit to give excuses. I can only say that we have not done enough to turn around in FY2015 but will continue to do so more aggressively this year.
Qian Hu is not only trying to transform its business, it is also looking for new areas of growth so as to diversify its market and business activities in the future. Hopefully this year we can finalise a few new areas of growth for the future generation.
So yes, from the financials point of view, Qian Hu seems to be in a sunset industry. But deep inside my heart, I know Qian Hu still has many growth potential for the management team to realise and explore.
The sun will rise after the long cold and dark night. We will see the dawn soon.
Happy New Year!
Kenny the fish
Dear Serene Chan, you wrote:
Do you allow tourist to stay at your fish farm? Why don't you use the land in malaysia to build a agritourism site for farm stays?
Hi Serene,
Qian Hu's core business in Singapore is the export of ornamental fish and aquarium accessories. The fish farm is open to visitors in the daytime.
Qian Hu had explored night time activities in the farm for visitors such as farm stay and restaurants. Due to the nature of business operation and complexity in various regulations in Singapore, it is not commercially viable for Qian Hu to do so.
Happy New Year!
Kenny the fish
Thanks again to all the investors who have posted their questions here. I hope I have answered them to your satisfaction. The next chance for us to correspond again will be the time when we announce our Half Year 2016 results. In the meantime, do feel free to visit our corporate website: http://www.qianhu.com/ and our IR website: http://qianhu.listedcompany.com/ for more information.
Take care and I look forward to our next online Q&A.
Kenny the fish
