Written by Chris Ng
Sozo Global Ltd, an export driven one-stop gourmet food specialist from Shandong, China, aims to use Malaysia's strategic position to become a global exporter in the halal food segment.
The company commenced operations in August 2005. It is a
one-stop gourmet convenient food specialist. Among the products produced by the Group
includes ready-to-serve (RTS) food, frozen vegetables, and canned food.
The Company is also recognised as the largest manufacturer of cooked duck meat products for
export purposes in the Shandong Province and since its inception, it has continuously strived to
expand its product offering. Today, it produces more than 1,000 types of products which are
exported to developed countries such as Japan, USA, and Korea.
Sozo was listed on Bursa Malaysia on 17 December 2010 at IPO offer price of RM0.80. Currently the share is trading below its IPO price of RM0.745 (1 June 2011).
On 31 May 2011, Mr Pang Wei Pin has resigned as the Chief Financial Officer of the Company. As per the Company's prospectus, the following is the profile of Mr Pang:
Why would the CFO of a recently listed company like Sozo resign just 5+months after listing?
It certainly does NOT give the right signal to the market, when your CFO had just resigned. Some of example cases where the resignation of CFOs seem to point to potential problems with their companies:
1. Borders
2. Longtop
3. American Tissue
The comforting point is that the latest quarter financial results of Sozo seem to suggest everything is alright, with Sozo recording RM86 million in revenue and PAT of RM25 million (beating preceding year's quarter).
Hopefully that they can find a good replacement soon.....a delay in getting a replacement may impact on the share price.
How can Beyond Solution Malaysia assist you?
- Speak to us in relation to unit trust investment opportunities.
DISCLAIMER: This article is not an invitation to buy or sell. It is only for educational purpose, this does not represent an investment advisory service. The content on this site is provided as general information only and should not be taken as investment advice. All site content, shall not be construed as a recommendation to buy or sell any security or financial instrument. Furthermore, the information presented in this article or this blog has not been independently verified and are subject to inaccuracy. Any action that you take as a result of information, analysis, or commentary on this site is ultimately your responsibility. The author may own shares in the company. Kindly consult your investment adviser before making any investment.
DISCLAIMER: This article is not an invitation to buy or sell. It is only for educational purpose, this does not represent an investment advisory service. The content on this site is provided as general information only and should not be taken as investment advice. All site content, shall not be construed as a recommendation to buy or sell any security or financial instrument. Furthermore, the information presented in this article or this blog has not been independently verified and are subject to inaccuracy. Any action that you take as a result of information, analysis, or commentary on this site is ultimately your responsibility. The author may own shares in the company. Kindly consult your investment adviser before making any investment.
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