穆迪：紅旗多寡不涉評級變動 穆迪副總裁兼高級信貸員Elizabeth Allen昨日回應本報查詢時指出，20支紅旗主要根據評級研究歸納出來的具體指標(見表)。但她強調，設立報告主要為參考之用(詳見另稿)，紅旗多寡不會左右其評級。「報告已說明，紅旗不是一些負面(指標)、或是對公司憂慮，只是一些Screening(檢查)，亦不代表覺得公司有特別不妥當。至於市場如何去解讀這件事，是個別投資者的決定，有些投資者也覺得報告不錯。」。對於穆迪資料有誤，Elizabeth Allen說「現時不是看到很多問題，只有一至兩個情，已找相關分析師再核對清楚。」惟她未有正面回應會否修正報告。穆迪「紅旗」昨日引致民企洗倉式暴跌，其中多達12面紅旗的西部水泥(2233)大跌逾14%(見圖)。 學生被記20個大過，但操行評級也能有A。因為大過與操行評級沒有關係。 Bloomberg Moody’s Sparks West China Cement Rout on ‘Red Flags’ ReportJuly 12, 2011, 3:35 AM EDTBy Kana Nishizawa and Mohammed Hadi (Updates with West China Cement comment in fifth paragraph.) July 12 (Bloomberg) -- Moody’s Investors Service cited five Chinese companies as having more “red flags” on corporate governance than others it examined, sending shares of West China Cement Ltd. to a record decline. The ratings company looked at criteria that “highlight issues meriting scrutiny to identify possible governance or accounting risks,” analysts led by Elizabeth Allen in Hong Kong wrote in a report issued yesterday. All 61 companies Moody’s examined raised “red flags,” with West China Cement, Winsway Coking Coal Holding, China Lumena New Materials Corp., Hidili Industry International Development Ltd. and LDK Solar Co. cited as “negative outliers.” These companies all raised at least nine out of 20 possible red flags, more than were raised by Sino-Forest Corp., the tree- plantation owner that fell 83 percent last month after being targeted by short seller Carson Block. West China Cement Chairman Zhang Jimin’s 41 percent stake in the company, cited as having the most red flags, dropped by as much as HK$1.3 billion ($167 million), according to data compiled by Bloomberg. “Investors have already been nervous about this kind of news and it’s making them lose confidence in some private Chinese companies,” said Ben Kwong, chief operating officer at KGI Asia Ltd. “In the short term, investors will be more prudent in investing in them.” Sin Lik Man, West China Cement’s board secretary, said that the company is “absolutely” in line with international financial reporting standards. ‘Misleading’ Report “I disagree with Moody’s claim and think it is misleading,” Sin said by telephone today. Huang Lanyi, Hidili Industry’s board secretary who is in charge of investor relations, said by phone today that the Moody’s report is “not based on fact.” |
編輯評論 >
