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Ferrochina
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soloman
Master |
16-Feb-2010 16:20
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THATS BECAUSE THEY HAVE ALREADY GIVEN ENOUGH TIME AGAIN AND AGAIN THATS BECAUSE THIS FERRO THING IS DEAD MEAT.................. MANY PEOPLE 'S FORTUNE CRASH BY THIS FERRO THING................ |
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rearmirror
Member |
16-Feb-2010 15:31
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Why is SGX so eager to de-list this counter? Why can't they give them more time? What is there to lose? At least there is hope for those who are stuck with the shares, right? |
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soloman
Master |
16-Feb-2010 12:26
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SHAREHOLDERS LOST ALL BASICALLY ............................... ITS IPO PRICE ALL GONE ALL LOANS ALL GONE WHAT A SHAME ................................ |
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dcang84
Veteran |
15-Feb-2010 23:33
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Money back for each share??? Shareholders are roasted. Zilch, big zero!
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knightrider
Elite |
15-Feb-2010 23:10
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If the RTO is not justify or just to buy time to delay the delist and all talk no action ! Then this will die off and to be delisted by the date stated. They owe banks millions of dollar, do you think it still have $$ to pay share holder ? Good Luck. | ||
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soloman
Master |
14-Feb-2010 12:45
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SOME SPORE SUPER HOT FUND MANAGER ALSO DIED WHEN THIS ONE COLLAPSE NOW THEY ARE SUING EACH OTHER IN COURTS ............ |
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stkoh78
Member |
13-Feb-2010 16:46
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http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_A337E8435B3ECCC4482576C8005F4FA6/$file/Announcement_Delist_13Feb2010.pdf?openelement Shareholders would note that the Company is insolvent and therefore will not have any resources to comply with Rule 1309 of the Listing Manual. The Company will however, write to the SGX-ST to seek a delisting on terms otherwise acceptable to the SGX-ST. I was wonder how much they are going to pay back for each share since they are going to delist . |
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bh704428
Veteran |
13-Feb-2010 15:45
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are u vested in tis?
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derekchong
Veteran |
13-Feb-2010 13:12
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appeal rejected, coy to be delisted by 11 March 2010. |
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rpires
Member |
12-Nov-2009 21:47
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bro cheong wee, are you sure it is good news. so far, it doesnt sound too good to me. |
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niuyear
Supreme |
12-Nov-2009 15:48
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I happen to chance at one brokerage house's website many months ago and this brokerage house have a 'SELL' rating for SIA.......but its been more than i think 9 mths or so, SIA price still steady till now. I wonder whoever follow its call to sell , will lose big. I do go back to thier website and still find the 'SELL' rating appearing at their stock recommendation column 1 or 2 months ago.
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des_khor
Supreme |
12-Nov-2009 14:49
Yells: "Tell me who is the God or MFT from this forum??" |
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All this MFT research are meaningless.... invest in stock base on thier research = buy high sell low at most time... | ||
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jeremyow
Senior |
12-Nov-2009 14:31
Yells: "Passionate business investor" |
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My brother is working part-time in one of the brokerage houses. He told me that the analysts' calls from brokerage houses generally have conflict of interest between investors and the brokerage houses. So, as investors, we should always treat buy or sell calls from analysts reports from brokerage houses with a pinch of salt. Brokerage houses covering reports for certain companies tend to write good things about a company that maybe biased. I'm not saying research reports are not worth looking at, just that one has to be careful that the calls may be more favourable towards the brokerage houses than retail investors. Caveat Emptor. | ||
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niuyear
Supreme |
12-Nov-2009 12:53
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Was shock to see these reports by brokerage houses. So, this company has declared bankrupt and closed down? Brokerage houses should be 'watched' by a governing body , and have their holding stocks publicised before they could issue buy or sell calls.
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cheongwee
Elite |
12-Oct-2009 23:58
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this one coming back ...congra to all still holding, ..at least all is not lost. this counter use to make me $ in the past...i believe if it can survive, it will prosper.. |
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jeremyow
Senior |
11-Sep-2009 01:53
Yells: "Passionate business investor" |
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Common shareholders are usually at a disadvantage when it comes to retreiving back money from a failed company. They are one of the last to get any leftover from a company that has liquidated its assests to pay off debts owed to creditors and bondholders first. As such, common shareholders can only hope for any leftover funds to be returned to them (which may or may not be realised afterall). This is the risk of investing in a company that eventually fails which the retail investor may lose all his invested capital. So, one needs to be vigilant in selection of companies with sound fundamentals (e.g. good sustainable earnings growth based on nature of business, good management with integrity taking care of shareholders' interest, low current and long term debts and liabilities, consistent growing operating cashflow). Investing based on sound fundamentals may not be foolproof, but it at least reduces potential risk of an investment turned bad. | ||
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shawaw
Member |
10-Sep-2009 11:12
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what does this mean for the minor shareholder ? does it mean nothing can be recoup ? | ||
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des_khor
Supreme |
10-Sep-2009 10:20
Yells: "Tell me who is the God or MFT from this forum??" |
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Any MFT here kenal stuck by this lovely baby?? | ||
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Ucrano
Member |
10-Sep-2009 10:04
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What does this mean for stock holders of this stock in Sg? Any hope of getting back some money? SEPTEMBER 3, 2009 FerroChina Deal StruckSome Paid, Others Get None; Minmetals Takes Units
By LAURA SANTINIHONG KONG -- Creditors have come to an agreement about how to wind up FerroChina Ltd. and are awaiting approval by a mainland China court, said people familiar with the agreement, in a decision that many foreign investors view as a significant test of China's 2007 bankruptcy law. Creditors of the Chinese steel company include Citigroup Inc., Credit Suisse Group, CLSA Asia-Pacific Markets's CLSA Capital Partners and U.S. hedge fund Citadel Investment Group LLC. Under the restructuring agreement, the people say, China Minmetals Corp. will acquire five operating subsidiaries of the galvanized-steel maker for 3.2 billion yuan ($468.5 million). Some foreign creditors will recoup as much as 60 cents on the dollar. Other foreign creditors will receive nothing. For instance, foreign holders of FerroChina's $130 million in outstanding bonds were completely left out of the restructuring. Still, some foreign investors see the agreement, if approved by the court, as a satisfactory conclusion to the limbo they have been left in for nearly a year. "Although it's disappointing that more value wasn't extracted, it's a reasonable outcome," said David Kidd, a restructuring specialist at law firm Allen & Overy who isn't involved in the FerroChina agreement. There was no response to messages to FerroChina and China Minmetals seeking comment. The ability of FerroChina's foreign creditors to recover the debt depended on whether it was backed by onshore assets or by collateral held in an offshore entity. In 2006, Citigroup led an investor group that provided a $160 million loan to FerroChina. The loan carried onshore-backed debt as well as offshore debt. Under the agreement, the secured portion of the onshore debt will recover nearly 60 cents on the dollar, while holders of the unsecured portion will receive a much steeper haircut, retrieving about 20% of the debt's face value, people familiar with the agreement said. About $75 million of the loan, registered offshore, isn't covered by the restructuring agreement. These people said the agreement is fair because the cuts for foreign investors with onshore claims are the same as those taken by mainland commercial banks holding FerroChina debt. In another closely watched restructuring of a troubled Chinese company, foreign creditors of Asia Aluminum Holdings Ltd. received as little as a penny on the dollar, while the company repaid its onshore creditors in full, raising cash through a sale of the company to existing management. |
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derekchong
Veteran |
29-Dec-2008 15:29
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suspended only. still got chance. next yr.come back stronger if if it can find a white knight. |
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3 March 2008- Buy $1.41