| Open | 131.08 |
| High | 136.10 |
| Low | 130.48 |
| Mkt cap | 50.01B |
| P/E ratio | 167.38 |
| Div yield | 0.075% |
| Prev close | 132.56 |
| 52-wk high | 136.31 |
| 52-wk low | 54.47 |
BGI's share price dipped but has then been on an uptick from just before the Australian deal was announced on or about 30 April 2020
It has been previously reported on this blog that the Australian Government's AUD 320 Million acquisition of WuhanCOVID test kits supplied by BGI is equal to approximately 60% of BGI's last audited annual revenue.
The BGI test kits that Australia acquired may well be of doubtful quality. Nevertheless Australians have been told that they are lucky that BGI has agreed to supply them; the kits may have gone elsewhere for a better price if not for a special deal that Twiggy Forrest (via his Minderoo Foundation) secured for Australia on the strength of his relationship with China's BGI.
The Guardian has since revealed that "the take-up of the BGI tests has been patchy. Many state public pathology bodies said they had no need for the tests, contrary to prior government claims that they would be used by public health units throughout 2020."
Additionally :
Pathology Technology Australia, a peak industry body that represents manufacturers and suppliers of testing technology, says its members supply 90% of all pathology tests and associated technology used in Australia.
“We had completed and submitted a very detailed audit of the current technology already in Australian laboratories for this kind of testing, and we had determined there was more than enough technology already in the field to significantly ramp up testing.
“Where we lacked a little bit was that there was a tightness of supply of some of the crucial consumables … but that was being pretty well managed speaking frankly.”
The peak group, which has also made a submission to the inquiry into Australia’s Covid-19 response, said the entire purchase and implementation could have been far smoother if industry had been consulted.
This is beginning to look like a an Australian taxpayer funded bail-out of a Chinese Government linked company. As reported the stock price graph above shows, the share price collapsed just after listing.
TO BE READ WITH
Saudi's will get 9 Million test kits plus six labs from BGI, subject to progress payments, for just 25% more than Twiggy Forrest's special deal: Australian National Audit Office scrutiny required before any money is handed over for test kits that may well be inaccurate;Australian deal equals 60% of BGI's last audited revenue
by Ganesh Sahathevan
BGI share price since listing in 2019
| Open | 106.00 |
| High | 107.50 |
| Low | 103.56 |
| Mkt cap | 43.39B |
| P/E ratio | 131.98 |
| Div yield | 0.095% |
| Prev close | 109.97 |
| 52-wk high | 118.86 |
| 52-wk low | 54.32 |
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