The sudden jump in Zhu Minshen's Top Group's share price is unexplained. The company has not made any announcement to the Hong Kong Stock Exchange (HKEX) that could explain this vaulting jump in share price, and neither has the Hang Seng Index, a measure of the overall market sentiment moved very much; in fact the Hang Seng has moved down.
Anyone familiar with Asian markets would understand that this kind of share price movement is not necessarily a good thing. In fact it suggests volatility that may exceed what investors can tolerate (given risk appetite).
All this adds to the problems previously reported with regards Top Group,and only adds to the unprecedented level of uncertainty to which students, and in particular law students are exposed to.
Never before in Australia has a private company that is not a university been granted permission to grant law degrees, and never before to a listed company.
TEQSA and its chairman Nicholas Saunders, and the NSW LPAB and its chairman the Chief Justice NSW Tom Bathurst are responsible for the decision, and for the uncertainty that Top Group students are exposed to. Both organisations have chosen to remain silent.
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Monday, February 17, 2020
Zhu Minshen's Top Group valued at HK 2 Cents (current share price HK 27 cents): Deep discount, collapse in market price ignored by Australian regulator TEQSA, and NSW LPAB ,chaired by Chief Justice Bathurst, overseen by AG Mark Speakman
by Ganesh Sahathevan
Stock market analysis company Simply Wall St Pty Ltd has valued Zhu Minshen's HKEX listed Top Education Group Pty Ltd at just HK $ 0.02 Cents, compared to its current share price of HK$ 0.27.
The analysis is based on a 2 Stage Free Cash Flow to Equity Model which as the name implies is based on expectations of future cashflows based on the most recent financials.
Top Group's share price and market price collapsed almost immediately after it was listed on the HKEX, on the strength of approvals granted it by TEQSA and the NSW LPAB. The NSW LPAB approval is unique, for a private company that is not a university has never ever been granted the privilege of issuing LLB degrees that entitle degree holders admission to practise law in Australia (see story below).
The NSW LPAB is chaired by the Chief Justice Of NSW Tom Bathurst,and overseen by the Attorney General NSW, Mark Speakman. Both men have refused to respond to queries on the issue of the Top Group license.
Despite the matters above (and those below) being in the public domain both Bathurst and Speakman continue to maintain their silence despite students placing reliance on their approvals to enrol in the Top Group LLB program.
The same can be said of TEQSA which is chaired by one Nicholas Saunders.
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Stock market analysis company Simply Wall St Pty Ltd has valued Zhu Minshen's HKEX listed Top Education Group Pty Ltd at just HK $ 0.02 Cents, compared to its current share price of HK$ 0.27.
The analysis is based on a 2 Stage Free Cash Flow to Equity Model which as the name implies is based on expectations of future cashflows based on the most recent financials.
Top Group's share price and market price collapsed almost immediately after it was listed on the HKEX, on the strength of approvals granted it by TEQSA and the NSW LPAB. The NSW LPAB approval is unique, for a private company that is not a university has never ever been granted the privilege of issuing LLB degrees that entitle degree holders admission to practise law in Australia (see story below).
The NSW LPAB is chaired by the Chief Justice Of NSW Tom Bathurst,and overseen by the Attorney General NSW, Mark Speakman. Both men have refused to respond to queries on the issue of the Top Group license.
Despite the matters above (and those below) being in the public domain both Bathurst and Speakman continue to maintain their silence despite students placing reliance on their approvals to enrol in the Top Group LLB program.
The same can be said of TEQSA which is chaired by one Nicholas Saunders.
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SEE ALSO
