China Minzhong: Could see some interests after grp added new facilities which will double its king oyster mushrooms to the existing capacity, bringing total capacity to 8 tons/day. King Oysters’ are able to fetch higher ASP’s and gross margins vs other mushrooms. Co. targets to increase its total king oyster mushroom cultivation capacity to 15 tons/day by FY11 and 24 tons/day by FY12…..
Separately, Olympus who sold recently stakes in the Co. announced along with board representatives from GIC and CMIA that they continue to express confidence in China Minzhong's prospects. Add that firm have been divesting stakes slowly not because they’re not optimistic, but because as a fund, they have a certain fund life and some of the earlier funds managed are approaching the end of their fund life, so firm do have to divest….
JPM maintain O/w, note that outlook remains favorable with vegetable prices remaining on a structural uptrend.
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