China Animal Healthcare -- strong beast?

Kevin Scully of NRA Capital has a sharp view on China Animal Healthcare (copied below). What do you guys think of the stock? The pieces are now falling into place. Earlier this week someone mentioned to me that there was an internal research report on the company from an International brokerage, which was unrated. The report talked about the potential earnings for 2010 and how if everything came into place, the stock could be trading at 4 times PER.....the report also alluded to possible fund raising to finance the acquisition of new licences. Other things being equal, and if the earnings forecasts are accurate the share has the potential to rise by between 50-100%. Its a question of execution of the strategy and realising the potential of the new licences acquired. I dont understand this business and also the business environment. China Animal is a true blue S Chip without Singapore parentage and its somewhere in the process of trying to validate its status as a growth company. If anyone has a copy of that report maybe he can share the source with us. Its still on my radar screen. Fund managers who attended the road show said the investment story was reasonable and its now a question of execution and delivering the profit. But if it does manage to execute its strategy and plans, we should start to see these kicking-in in the first half of 2010. At that point in time we could see a more serious rerating of the stock which could transform it from an “animal” into a “beast” . So keep in view......for now for those who are more risk adverse.