I received a number of calls about the inclusion of China Animal into my portfolio yesterday. 

First was to inform me that CIMB was starting coverage with a target price of S$0.44.....has anyone seen this report ? maybe they can share with us the basis of the 44 cents.

I was also told that Edge included China Animal in their publication of Jan 11, 2010 as one of the S-Chips gunning for a duel listing.   I remember asking management about this but dont recall a definitive response.  Anyway - this should be considered a bonus if they do look at it and if and when it materialises.  The Edge article is reproduced here.

I also mentioned the stock to a Hedge Fund manager yesterday.  His initial response was one of caution because he didnt see any specific advantage the company had and was worried that their margins could come under pressure if they start to report good profits especially given that their unique position comes from a constraint in the number of licences.   He is however meeting up with the management of the company this week to address his concerns.  Notwithstanding these concerns - which could impact holding the stock for the medium to long term, he agreed that there was short term upside at current levels.