Long term is hard to say. You have a logistics company in Hong Kong offering IT and fulfillment operations in China.
I am and was not a shareholder of Ecargo. I have many interests in this field and with consultation with others we found difficult to invest.
Main issues:
- How many clients signed on for the IT part of the business?
- HKG is not China.
- No CIO or position/s of IT promoted.
- Chinese consumers are not western.
- Magento capability in China and payment portal?
- SEO and the GFW (Great Firewall) factors in China.
- mcommerce huge stake in ecommerce in China.
I agree Mr Myer will be an asset, but long term is not in this business yet. I would cut liabilities in operations and add value add revenue streams to the business.
The IPO clearly stated:
In China, eCargo is not aware of any direct
competitors with an expertise in fashion
and apparel who offer the full spectrum of
services currently offered by eCargo to Merchants
who wish to enter the China online
market.
This has changed drastically.
ECG Price at posting:
32.0¢ Sentiment: Sell Disclosure: Not Held
