Noble China (NMO) on TSE. Chinese Brewery Stock Message Board

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Gold/Mining/Energy : Noble China (NMO) on TSE. Chinese Brewery Stock

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To: M. Merriam who wrote (216)	11/22/1999 12:33:00 PM
From: Lee Matheson	Read Replies (1) of 248

The news with respect to both of the Northern breweries is very bad IMHO. Before the press release, I was of the opinion that NMO's short term prospects depended on salvaging something worth while from the Northern brewery negotiations, and the long term prospects were dependant upon their exclusive licence to brew the Pabst Blue Ribbon in China commencing November 2003. The press release states that the Shanhaiguan Brewery business is not profitable and it appears doubtful that a sound business case to restore the brewery to profitability can be made without the investment of significant funds. --- For the Shouguang Brewery, the press release states that it is difficult at this point to see how a sound business case can be made without significant additional investment in this brewery. --- With the poor situation of these two breweries, I don't see any good short term prospects for NMO earnings, ... all I see is a major write off looming. Long term, NMO may have prospects with its distribution rights, but I fear the share price may suffer rather badly until the "long term" gets closer. --- Can anyone see any reason for short term optimism?

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