China Gaoxian   

ChinaGaoxian

If there is indeed a fraud or misuse of $. Then what will happen? CEO has to be responsible? How bout those who have invested in the company? since now the company is still operating in China, I believe it cant be the case that even when there is a fraud...the company will still be allowed to operate. E& Y took so long yet no result...now getting another audit committee will there by much help? E& Y itself is reputable ...I wonder why they couldnt find out the reasons.

 

anyway,for watever fuking reason causing all these, its still  great to see AC is working and reacted promptly... even  to  remove the CEO.... soon will know wat the hell has happened...

 

Asl Korean to go over to F them as there are nearer !!

warrenbegger      ( Date: 21-Apr-2011 14:36) Posted: $$$ still cannot find? Where is the $$$!!! Who steal it!!! What rubbish? CEO + CFO + Director all act blur act cute act sotong resigned! Like that who still want to do business with CGX? Their reputation can throw into drain liao. Need to find international Ah Long pour paint write big poster O$P$ liao. I wonder how Korean investor feel now? At least singapore side still got some earn and run. Korean like no chance to run, kanna con/scam and rape hard! warrenbegger      ( Date: 24-Mar-2011 23:15) Posted: Simple, u said u got $100,000. I ask u to show me and if u really take out and prove me, i got nothing to said and u r honest. If u cant take out, cant prove it, act blur and dont know where $ goes, then something is very wrong. U CEO and CFO dont know where the $$$? And need so long to find it? Where is the $$$$$$$?????

 

Sadly i wish I wasn't right at all .. but the news is out.

Condolences to those who vested so heavily in this..

medivh      ( Date: 31-Mar-2011 09:45) Posted: The most unfortunate thing is that the investors are lured into buying into this counter by many so-called " analyst" and " professionals." Even if in black and white the financial  books looks good.. but the reality and qn that are still glaring at everybody 1): Are the books recorded honestly? IF its ok, and everything is accounted for, it will not be like now.. 2) Is the CEO really a noob or " act smart" ? Something he knows that everyone doesn't know? 3) Everyone knows honesty is very important in getting investors to pour in money etc. etc.. ... e.g. you can do everything right from the beginning but it just take 1 wrong step (dishonesty??) to destroy everything you have done right.. Who would believe you anymore?   I also hope the counter will list soon.. but up till now.. the CEO does not even bother to hasten the AGM or to even initiate a special meeting for all shareholders to shed some light into the audit matter and calm the nerves of shareholders (big or small). " Be wary of the man who urges an action in which he himself incurs no risk.  ~Joaquin de Setanti"

 

$$$ still cannot find? Where is the $$$!!! Who steal it!!!

What rubbish? CEO + CFO + Director all act blur act cute act sotong resigned!

Like that who still want to do business with CGX? Their reputation can throw into drain liao.

Need to find international Ah Long pour paint write big poster O$P$ liao.

I wonder how Korean investor feel now? At least singapore side still got some earn and run. Korean like no chance to run, kanna con/scam and rape hard!

warrenbegger      ( Date: 24-Mar-2011 23:15) Posted: Simple, u said u got $100,000. I ask u to show me and if u really take out and prove me, i got nothing to said and u r honest. If u cant take out, cant prove it, act blur and dont know where $ goes, then something is very wrong. U CEO and CFO dont know where the $$$? And need so long to find it? Where is the $$$$$$$?????

 

So scary now.....

• Cao Xiangbin (founder family member) resign as CEO immediately.
• Raymond Wong Wai Kan resign as CFO immediately.
• Cash@Bank cannot be verified still.
• Unauthorised Bank loans & utilisation cannot be traced.
• PwC auditor newly appointed to assist E& Y.
• Rajah & Tann LLP, Jipyong & Jisung (Korea), Tian Yuan Law (Beijing) - appointed to give legal advice (to sue ppl?)

 

Quite likely to be Bad news. If auditors could not get the appropriate information from the management in order to trace the funds, etc., and have to appoint additional auditors, something is seriously wrong, especially in light of the CEO stepping aside. 

xing78      ( Date: 21-Apr-2011 10:19) Posted: Good or Bad news? http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_D8F9834D6C0858D74825787900053B0B/$file/ChinaGaoxian_Annt_21Apr11.pdf?openelement

 

Good or Bad news?

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_D8F9834D6C0858D74825787900053B0B/$file/ChinaGaoxian_Annt_21Apr11.pdf?openelement 

 

On the outside Time really fly.........so, how is everyone coming along ?

 

long time no see Master Lim!

 

the keyword in the following posting entry is " some" .......... some Singaporean companies also have homegrown talent  that are even more creative and innovative that they are even better too,  that they have not been get caught or exposed yet,,,,,,we don't even  know which one, in  future  ?

warrenbegger      ( Date: 17-Apr-2011 13:03) Posted: LOL! True, some china genius really can turn any rubbish into delicious food. They r indeed foreign talent, we singaporean really lose out to their creativity and innovation :)

 

LOL! True, some china genius really can turn any rubbish into delicious food.

They r indeed foreign talent, we singaporean really lose out to their creativity and innovation :)

 

True true, that true, distinguish the truth and oneself will be safe, me thing nothing is safe...look at the Japan unclear mishap, they always ensure their is safe, look at China, anything rot can turn into food, food for thought

http://www.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20110414-273712.html


 

 

The problem is not damning the bad egg.. but how the bad egg seems to damn themselves ..lol. It takes years to build good reputation. or to even rebuild good reputation.

e.g. Any1 still dare to let their babies  drink milk sold from china?

teeth53      ( Date: 16-Apr-2011 18:42) Posted: Further damming S-chip...ya, not all S-chip is of bad egg. There is business for them, understand their business, and will understand how to survive, after collecting so much from the  Korean, oni if they know how to revamp, err...not revamp, but to rejuvenate, if not it will relapse again...ZZZzzzzzzzz teeth53      ( Date: 22-Mar-2011 21:07) Posted: Its clear, its cloudy. Well...is certainly is going back where it belong...Basic to basic. Now is not quitely going, but angrily, many is asking why it has to be like that ??

 

Further damming S-chip...ya, not all S-chip is of bad egg.

There is business for them, understand their business, and will understand how to survive, after collecting so much from the  Korean, oni if they know how to revamp, err...not revamp, but to rejuvenate, if not it will relapse again...ZZZzzzzzzzz

teeth53      ( Date: 22-Mar-2011 21:07) Posted: Its clear, its cloudy. Well...is certainly is going back where it belong...Basic to basic. Now is not quitely going, but angrily, many is asking why it has to be like that ??. teeth53      ( Date: 26-Jan-2011 21:14) Posted: thk to sgtrader. Look like going, going going back to basic...humm, blue diamond. Where, my guess is where it should belong. then quitely another s-chip goes ZZZzzz for a while.

 

That's why we all love the show Ïnfernal Affairs" (Chinese version not the ang mo one)

  =)

 

Looks like  most S-chips will be " dinosaur" soon.....

1. China FlexP - CFO resigned abruptly today.

2. China Fashion Holdings Ltd - going concern emphasis of matter by Auditors. This means it is heading for insolvency soon.

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_FD31111F9DAF28B54825786B0045A652/$file/CFHL_Emphasis_of_matter.pdf?openelement

hpong5      ( Date: 15-Apr-2011 21:15) Posted: Sino Techfibre Auditors Discover Discrepancies Sino Techfibre said on 14 Apr that its auditors, Ernst & Young (E&Y), had discovered certain discrepancies in invoices issued by the firm and its suppliers, and were unable to verify whether the invoices were genuine. CEO of Sino Techfibre, Li Wenheng said that when the management of the firm approached its employees to investigate on the discrepancies, it was unable to contact one of its sales managers. In the meantime, Sino Techfibre cautions that its results announced on 15 Feb may change, subject to findings of the verification exercise. Significance: This incident has again marred investor confidence in these China-based firms listed in Singapore. Sino Techfibre is the fourth S-chip to be hit by an audit scandal this year, after China Gaoxian Fibre Fabric, China Hongxing Sports and Hongwei Technologies.

 

still halt? whaz up SGX ??!!!!

 

Sino Techfibre Auditors Discover Discrepancies Sino Techfibre said on 14 Apr that its auditors, Ernst & Young (E&Y), had discovered certain discrepancies in invoices issued by the firm and its suppliers, and were unable to verify whether the invoices were genuine. CEO of Sino Techfibre, Li Wenheng said that when the management of the firm approached its employees to investigate on the discrepancies, it was unable to contact one of its sales managers. In the meantime, Sino Techfibre cautions that its results announced on 15 Feb may change, subject to findings of the verification exercise. Significance: This incident has again marred investor confidence in these China-based firms listed in Singapore. Sino Techfibre is the fourth S-chip to be hit by an audit scandal this year, after China Gaoxian Fibre Fabric, China Hongxing Sports and Hongwei Technologies.

 

I dun mind waiting....but hopefully he can really gather the so call " sweet and honey" ...at least better then being suspended.

medivh      ( Date: 15-Apr-2011 16:04) Posted: As I have posted before, HE needs to gather more sugar and honey to sweeten all investors up before he can have any AGM. This is call damage control. By then also, most investors will not even remember having " hate" or " worries" when it was first suspended.. haha