Dsiclaimer - I still like TTT & have them on my buy list but ....
China Galaxy Securities Co. Ltd makes up the CGS part of the CGS-CIMB Securities, who you refer to. Does anyone know their relationship to the Chinese Communist Party? I would suggest they may well be a pawn. Intellectual property might be at risk. If you had specialised IP, would you share it with the CCP? I know they already have a manufacturing partner in China, but it may not be too long before the CCP are entitled to have a member on the board.
"One classic example of the former is the reorganization of China Galaxy Securities, a state-owned enterprise at the central government level. China Galaxy Securities, established in August 2000 with the merger of the securities divisions of four state-owned banks and a trust company subsidiary of a state-owned life insurer, was at one time one of 58 Nomura Capital Market Review Vol.9 No.4 China's largest7 securities firms, with about 200 offices nationwide and 3 million client accounts. After running up huge losses from illegal activity over the past two years, however, it became a candidate for reorganization. In June 2005, Central Huijin and the Ministry of Finance jointly invested in China Galaxy Financial Holding, and established three companies under the holding company: China Galaxy Securities, Galaxy Investments, and Galaxy Asset Management. The new China Galaxy Securities plans to acquire the securities assets of the existing China Galaxy Securities." from Nomura Institute of Capital Markets Research | The Restructuring of China's Securities Industry
TTT Price at posting:
40.0¢ Sentiment: Buy Disclosure: Not Held
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