Sharp drop in Silver Base's revenue raises corporate governance issue - Home | South China Morning Post -BoardProspects

Sharp drop in Silver Base's revenue raises corporate governance issue

Home | South China Morning Post Dec 3 2012 BoardNews

An analyst has questioned corporate governance at Silver Base after the company reported an unexpected sharp drop in interim revenue. The liquor distributor admitted that some managers had left the company and some mainland stores had closed. Silver Base's share price fell 4.9 per cent to close at HK$2.31 yesterday, while the shares of Kweichow Moutai, which produces the Moutai liquor, dropped 7.3 per cent to 200.19 yuan (HK$249.18) on the Shanghai stock exchange. Wuliangye Yibin, which makes Wu
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Quotes
1. The revenue drop was beyond everybody's expectations.
2. If the company gave good guidance on its results, there would not be such a surprise. So there may be corporate governance problems or management problems with this company. With such a huge drop, the company may not attain its expected results for 2013.