China Taisan

China Taisan has received approvals from the Taiwan authorities for the listing of TDRs representing up to 250m shares; of which 125m are new shares. Co will now apply to SGX for the listing & quotation of the new shares. Trading at est 5x FY10 P/E, this could be the catalyst for a re-rating of a cash rich company. For 1H10, this performance fabric manufacturer saw a tripling in net profit to Rmb109.4m as revenues surge 267%.