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Hongwei don't give a damn to SGX, play delay tactics. Read this ....
" In view of the Company’s inability to clarify its state of affairs despite the severity and urgency of the situation, SGX had considered it appropriate, pursuant to Listing Rule 704(12), to direct the Company to immediately appoint a special auditor, acceptable to SGX, to investigate the affairs of the Company. The special auditor will report to both the Company’s Audit Committee and SGX."
KAOZ....even GX also can kena..this stock is highly touted by many analysts just few mths b4!!!! hopeless case man...GX v popular now oso like that...all the other S chips can die liao...
I want to warn again! Those S-cheat that r safe past few years or now doesnt means they r safe in future. Their culture/thinking/law/education/value/integrity is different from us and they will break the law anytime even they think is nothing wrong. Eat first Think later. After they Eaten, they will act blur, all push blame around and all said dont know. If u still want to vest in S-cheat, good luck and maybe the next top winner of 4-D, Big sweep or ToTo will hit u! That why china so corrupted, and that why most S-cheat kanna the most scandal % in sgx than local chip.
warrenbegger ( Date: 24-Mar-2011 21:44) Posted:
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Strange? Why all S-cheat suspension 3 in the row this year all from textile sector? Why all get caught by Ernst & Young auditor? Other S-cheat using other auditor can undertable so havent get caught yet? U know why S-cheat company mosty got audit issue? One of the reason because in china if u want to do business well, u need to undertable a lots, so sometimes it hard to telle account. And some dishonest management like to pocket quietly and that their culture in china. I got friends do business in china so i know a lots of monkey business, corruption make them more easier to do business. In singapore, if kanna caught, jail and fine till u siao, and where can u run? All police at checkpoint waiting for u.
warrenbegger ( Date: 03-Mar-2011 18:08) Posted:
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It will be rewarding to keep China fishery....
Yes u r right! becos these buggers their charts is very tricky and not suitable for short term trading.. can be a shareholder but not trader
FearValueGreed ( Date: 07-Mar-2011 23:48) Posted:
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Thanks your advice alex currently I have only 1 S-Chip counter.
I won't hold more than that.
alexchia01 ( Date: 07-Mar-2011 22:17) Posted:
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Good stocks but the matter of time will take years, definitely not months.
Ying Li, SoundGlobal, Sinotel !!!
I.m sure they will return to their glorious days in a matter of time.
des_khor ( Date: 07-Mar-2011 22:46) Posted:
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I myself die can liao, i dont want others to die with me leh. Some S-chip R still very strong at bottom and will rebounce a lots, if u can find it.
des_khor ( Date: 07-Mar-2011 22:46) Posted:
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Which counters ?
There R many good Local L-Chick, and there R also some good S-Chick. Wish u all know what i means.
Imagine 14,000 minority shareholdes got stucked last week alone, mostly in China Hongxin! This is as bad as Minibonds fiasco!
Jackpot2010 ( Date: 07-Mar-2011 22:12) Posted:
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There R many good Local L-Chick, and there R also some good S-Chick. With u all know what i means.
At the moment, you can only look at 2 sectors.
Oil & Gas and Health Care.
S-Chip is one of the worst hit sector, so better get out while you still can.
zhixuen ( Date: 07-Mar-2011 09:27) Posted:
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SINGAPORE: The recent share suspensions of China Hongxing Sports and Hongwei Technologies, two S-Chip counters on the SGX, have led to calls for a change in the way S-Chip suspensions are handled.
Market experts said investors will benefit if the time frame for such suspensions be limited to three months.
As many investors get stuck into companies under suspension, there have also been calls for the shares to trade under a designation basis, with special conditions, to enable investors to exit if they choose.
In response, SGX said while a suspension is undesired, it would be more detrimental to the market to allow trading where the state of affairs of the company is unclear.
14,000 minority shareholders are stuck in China Hongxing and Hongwei Technologies, which were recently suspended from trading on the SGX.
In previous S-Chip suspensions, prolonged trading suspensions have meant the businesses have deteriorated due to customers and suppliers walking away.
This sometimes results in the companies never returning to trade and eventually de-listing.
Shareholder advocates are asking for more supervision.
David Gerald, President and CEO of Securities Investors Association (Singapore), said: " S-Chips, maybe we need to look at: do they all need a sponsor? Because we've got one too many now, do they need some sort of supervision?
" We can't just list them and say you're on a level playing field. You've got problems with governance, you've got problems with accounting, about time we look at them and say look we need to do something about these companies, in the interests of the market and the interests of investors."
Market observers believe the flow of information, which is critical to shareholders, could be improved through a watch list.
Mak Yuen Teen, Associate Professor with the Department of Accounting at NUS Business School, said: " When companies have these kind of issues, whether you're talking about audit qualifications or any other type of corporate governance type scandals, they should be put on a watch list.
" They probably need to be asked to update the market periodically, once every three months for example, in terms of what they're doing to improve the state of affairs in that company."
There have also been calls to investigate the unusual share price falls in both Hongxing and Hongwei before their suspensions, which could have been because institutional investors had information that smaller shareholders did not.
In response, an SGX spokesperson said, the " SGX conducts market surveillance on all counters. All unusual trading activity will be investigated thoroughly and the necessary enforcement action taken as a matter of course."
-Channel News Asia 7 Mar 2011
Market experts said investors will benefit if the time frame for such suspensions be limited to three months.
As many investors get stuck into companies under suspension, there have also been calls for the shares to trade under a designation basis, with special conditions, to enable investors to exit if they choose.
In response, SGX said while a suspension is undesired, it would be more detrimental to the market to allow trading where the state of affairs of the company is unclear.
14,000 minority shareholders are stuck in China Hongxing and Hongwei Technologies, which were recently suspended from trading on the SGX.
In previous S-Chip suspensions, prolonged trading suspensions have meant the businesses have deteriorated due to customers and suppliers walking away.
This sometimes results in the companies never returning to trade and eventually de-listing.
Shareholder advocates are asking for more supervision.
David Gerald, President and CEO of Securities Investors Association (Singapore), said: " S-Chips, maybe we need to look at: do they all need a sponsor? Because we've got one too many now, do they need some sort of supervision?
" We can't just list them and say you're on a level playing field. You've got problems with governance, you've got problems with accounting, about time we look at them and say look we need to do something about these companies, in the interests of the market and the interests of investors."
Market observers believe the flow of information, which is critical to shareholders, could be improved through a watch list.
Mak Yuen Teen, Associate Professor with the Department of Accounting at NUS Business School, said: " When companies have these kind of issues, whether you're talking about audit qualifications or any other type of corporate governance type scandals, they should be put on a watch list.
" They probably need to be asked to update the market periodically, once every three months for example, in terms of what they're doing to improve the state of affairs in that company."
There have also been calls to investigate the unusual share price falls in both Hongxing and Hongwei before their suspensions, which could have been because institutional investors had information that smaller shareholders did not.
In response, an SGX spokesperson said, the " SGX conducts market surveillance on all counters. All unusual trading activity will be investigated thoroughly and the necessary enforcement action taken as a matter of course."
-Channel News Asia 7 Mar 2011
louis001,
I respect to your rationalization.
Don't always blame your loss is due to S-Chip. There are so many others SG bad stocks.
There are so many big companies are invested in China.
A lot of peoples facing big loss to China Stock are not because of the reliable of S-Chip is due to the greedy.
They keep buying China Stock during the big big big bullish at 2007 - 2008. At that moment, China related stocks mostly stand at PE 30 - 50
why peoples keep buying that time? some of my friends are holding China related stock at very high price that time.
They never cut loss when the market are collapsed.
with due respest to all opinions expressed, that's why there are always buyers and sellers in the stock market, each time at opposite side of the trade... recall from other posting that there are also other SG stocks that suffer huge losses also : Chartered SemiCon(delisted), Jurong Tech(delisted, bankrupt), Centillion(Cityraya), MDR(ACCS), Digiland,,,,,,,,
This shows either you are a thrill-seeker (which is good),
or loves to take bigger risks and challenges (which can also be good).
But my view is that with literally hundreds of other non-S counters
available abundantly for the taking, why only go for the exotic?...
cheongsl ( Date: 06-Mar-2011 22:58) Posted:
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the prob is.. dunno when it will lift the SUS
cheongsl ( Date: 06-Mar-2011 22:58) Posted:
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