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this stock is dead
Wrong leh......no need to wait loh.....as we speak, the company has been taken apart
knightrider ( Date: 10-Mar-2010 19:36) Posted:
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Got one very desperate website- always when gov give GST rebate- encourage us to donate to them to do charity. One of my friend donated the Ferrochina share to them ! LOL.
1 cents also no habe???? Me got 10 lots leh
WLL = wait long long !!!
Will I get any money back?????
SGX should also take some responsibility in its chase for more listing.
they should lift their own standards to grant listing to foreign companies and local alike.
they should also police these companies to ensure these companiese do not cheat investors and submitting fake annual reports.
what the hell we pay SGX fees for such poor policing job?
seems like many China IPOs gone bust in recent years. Someone's got to really evaluate the quality of these IPOs before listing.
Filter them like they r rubbish...
renzokun ( Date: 01-Mar-2010 22:01) Posted:
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Yup Agreed, always do our own research..
waves88 ( Date: 01-Mar-2010 21:46) Posted:
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more over some of these analysis stl need to subscribe or pay em..
cn't imagine these analysts, they go all out to get us...did heard some rumors abt tis counter bt wasn't interested, lucky me..
Never trust what analyst says....some have ulterior motive...they are promoting for certain clients.
I remember once CEnersave was even recommended by Goldman Sach.....see now...it's dead
I remember joining shareowl which at one time thinks that it's a gem.
China Aviation Oil gets its blessing from Temasek...but then...it was consolidated from 5 to 1.
I managed to cut loss for CAO just in time before suspension.....thank goodness.
Below is the list of fantastic stock previouly. Now all die liao :-
BeautyChina
Celestial
iwonder ( Date: 01-Mar-2010 17:57) Posted:
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This the same story for ChinaEnerSave and Celestial Food.
and hordes of analyts bought FChina's 'fake' stories and were dishing out BUY BUY BUY calls. When situation turned sour overnight... all of them revert to SELL SELL SELL.
Well, at least for China Aviation Oil... it was suspended for a few years and resumed trading due to efforts of multiple parties nad it did climb back to pre-collapse px level at the height of the bull mkt in 2008.
Delisting spells the end for all the investors... SGX should really review their listing ops, there is a pattern there from Ch AO, Ch Fibrechem, Ferrochina, and recently Ch Milk. These CEOs didn't care cos they could just get away with it.
yummygd ( Date: 01-Mar-2010 16:29) Posted:
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wow and it was trading at such a high price too.they are giving fake reports?? anyway so sorry to hear this kinda stuff..
COMPULSORY DELISTING OF THE COMPANY WITH EFFECT FROM 11 MARCH 2010
Further to the Company's announcement of 13 February 2010, and subsequent to the Company
informing the SGX-ST that it is insolvent and will not have any resources to comply with Rule 1309 of
the Listing Manual, the SGX-ST has informed the Company that in the absence of a reasonable exit
offer to shareholders of the Company, the Company will be delisted with effect from 11 March 2010.
The SGX-ST has further directed the Company to make an SGXNET announcement detailing the
reasons why the Company is insolvent and unable to comply with the aforesaid Rule 1309.
In this regard, and as previously announced, the Company had received the following:
(i) statutory demand notice dated 5 October 2009 from Citibank, N.A., Shanghai Branch,
claiming for the repayment of the sum of US$176,797,420.64 under the Tranche B Borrower
Shares Charge dated 30 October 2007 entered into between the Company as chargor and
Citibank as security agent, in respect of the borrowings of Superb Team Limited and
Changshu Everbright Material Technology Co., Ltd; and
(ii) statutory demand notice dated 30 October 2009 from BNP Paribas (China) Limited claiming
for the repayment of the sum of RMB96,591,343.66, being the amount outstanding for which
the Company had guaranteed payment by its PRC subsidiary, Changshu Xingdao Advanced
Building-Material Co., Ltd, under a facility agreement dated 12 December 2007.
The Company has no ability to repay its outstanding debts, as its offshore subsidiaries are under
receivership and its PRC subsidiaries have been disposed by the PRC administrator to China
Minmetals and Zhejiang Materials. The Company is therefore insolvent and is not in any position to
make a reasonable exit offer to shareholders of the Company.
Submitted by Nelson Fong, for and on behalf of the Board, on 26 February 2010 to the SGX-ST
That is the consequence chasing hot and liquid S-stock or SGX stocks!
knightrider ( Date: 17-Feb-2010 09:33) Posted:
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Lets hope there is some residue left for shareholder when they delist ! Good Luck .