TINGYI (Cayman Islands) Holding

TINGYI (Cayman Islands) Holding makes, distributes and sells instant noodles and other food products in the mainland.

This time last year, ABN Amro Hoare Govett Asia put a buy on the stock, saying the company's noodles were the top seller - poor advice as the counter went into reverse when its start-up beverage and bakery products saw widening losses.

A year ago, Tingyi shares traded at $1.88. Now they are worth 70 cents, having trailed the Hang Seng Index by 33.2 per cent. ABN Amro Hoare Govett Asia has since changed its name to ABN Amro Asia.