Golden Resources Development

GOLDEN Resources Development is a rice-trading company which sells its products under brand names such as Kangaroo, Golden Boat, Cherry Blossom Castle and Vitarice.

This time last year brokerage China Everbright Securities placed a buy on the stock, saying earnings were set to improve as capital expansion had been paid up. This proved poor advice. After making a sudden surge in February, the shares have drifted lower.

Twelve months ago, Golden Resources shares traded at 81 cents. They are now worth 90 cents, having under-performed the Hang Seng Index by 11.59 per cent. A spokesman for China Everbright said sentiment had turned against the rice industry as attention had shifted to other out-performers.