China Hongxing   

China Hongx

Both Hongxing and Hongwei both got (H). Both also incorporated in BERMUDA. And i also find that many S-Chip that got suspended mosty incorporated in Bermuda or others. S-Chip stand for Shit cheat, Sai cheat, sucker cheat, sorry cheat, sotong cheat or sink chip? But not really all S-chip is  100% bad, just that S-chip do rubbish things % is higher than others. And i also said before, S-chip risk is higher so if u want, the most u only bet 10 to 20/30% depend how much u willing to risk for greed gain. If u very greedy and Mau heavily on S-chip, that just too bad. BTW, i still hold 1 S-chip in my portfoilo and that is Taisan(5+% for fun wont kill me if anything wrong)  cause i still trust Taisan(i cant find his problem yet). I also wish both (H) can unsuspened so u all can take back your $. Amem

 

commando      ( Date: 26-Feb-2011 23:52) Posted: Dun kn how many ppl stuck !!!!!!!

 

Dun kn how many ppl stuck !!!!!!!

 

yea u need to wait until they remove the suspension... which might have to wait for years sometimes :/

commando      ( Date: 26-Feb-2011 23:16) Posted: bro, 10 lots ok la.....1k+....buy experience     hold 10 lots in this shit... Does tt mean that in a suspension, i won't be able to sell these 10 lots at all? Im quite new to this...

 

bro, 10 lots ok la.....1k+....buy experience

 

  hold 10 lots in this shit...

Does tt mean that in a suspension, i won't be able to sell these 10 lots at all?

Im quite new to this...

 

Ok, i m not greedy, repay me 1 pair of sport shoe / lot...Tomorrow go Sport Link check out the shoe availability... 

louis001      ( Date: 26-Feb-2011 21:36) Posted: Based on news report, E& Y auditors reported accounting irregularities occurred at CHX subsidiaries at Fujian and Quanzhou and informed CHX board who decided to appoint special accountants to probe to find out what happened. As such, halt and suspend trading and delay reporting Q-result on 1-Mar. For shareholders, let’s prepare for the worst and hope for minimum damage that the scale and depth of such irregularities will not be huge which contain within 2 locations. CHX board audit committee had proceeded to secure company assets and ensure continue business operations. Of course, if one believes that’s to be done. What else can one say. One only hopes that it is NOT like other S-chip case where CHX cannot repay huge loan and go bankrupt cannot pay vendors/suppliers or board directors swindle money away, CEO/Directors go missing, executive corruption etc… The only thing shareholders can do now : wait for the investigation report and pray hard,,,,prepare for the worst and hope for minimum damage.

 

Based on news report, E& Y auditors reported accounting irregularities occurred at CHX subsidiaries at Fujian and Quanzhou and informed CHX board who decided to appoint special accountants to probe to find out what happened. As such, halt and suspend trading and delay reporting Q-result on 1-Mar. For shareholders, let’s prepare for the worst and hope for minimum damage that the scale and depth of such irregularities will not be huge which contain within 2 locations. CHX board audit committee had proceeded to secure company assets and ensure continue business operations. Of course, if one believes that’s to be done. What else can one say. One only hopes that it is NOT like other S-chip case where CHX cannot repay huge loan and go bankrupt cannot pay vendors/suppliers or board directors swindle money away, CEO/Directors go missing, executive corruption etc… The only thing shareholders can do now : wait for the investigation report and pray hard,,,,prepare for the worst and hope for minimum damage.

 

LOL! Yesterday friday STI up is just temperory because of oil pull back, and with many short covering(poor shortist also dont know why oil suddenly down, surprise! gotcha!)  + many thought bull coming, lose control jumping into shit pool  to chase px. And they dont know the main problem that cause oil to rocket up still havent solve! After egypt mubabi step down many also thought bull coming liao(1 day rally only, lol). After that, STI everday lau sai/eat too much sleeping pill to comit suicide  till warded in ICU. They r so many problem in the world havent solve yet, so be careful. World peace.

iPunter      ( Date: 26-Feb-2011 18:43) Posted: Sifu is right... :)       and when a stock goes up, don't become madly bulllish...              and be happy like fart, jumping up and down like a clown...

 

Another S chip down the LONGKANG (drain).

HONGWEI TECHNOLOGIES LIMITED has requseted to suspend its shares on 28th Feb.

Oh!!!! NO. Sigh!!!!!


 

 

Sifu is right... :)

      and when a stock goes up, don't become madly bulllish...              and be happy like fart, jumping up and down like a clown...

 

Here a money risk management % ratio u can use. Eg if u got 100,000. Every stock got a risk/reward % u can invest and what % odds u think can win in short/mid or long term. For STI blue chip(some good but some still danger in term of voliteity), risk is low so i can invest around 90+%. For other large cap stock(depend what value, different stock got different value)  risk is medium so u can invest 50+%. For low cap or s-chip, risk is higher so u can only invest 20 to 30% per stock to avoid heavy loss if rubbish happen like loss of trust value. In simple term, the more risk the less u invest. And the less risk the more u invest. This is just 1 of the strategy to play safe in this cunning market. Plz learn more to protect yourself cause no one will care if u loss. If u want to kill or ambush a person successfully, u also need to plan well, if not is yourself who kanna whack :)

 

a) No DIV or low DIV  < ------ Depends on the coy situation --

b) Change Auditors frequently, or worse auditors did not complete term  < ------ Depends on the Auditors  ---

c) Change of Core Business, one moment sell coal, one moment sell solar cell.  The worse are those following the Green Trail.....  < ------ Depends if that would turn the coy around

d) Negative trade receivable < ---------- It will be unlikely to have negative trade receiveables unless your talking about negative growth... also doesnt mean a bad thing maybe their customers are paying back it depends.

e) Company who failed to report change in percentage of major or sub shareholder within reasonable time frame. < ------ Fair comment but with SGX listing regulations they have to report within 24/48 hours cant remember.

f) Companies that don't update investor frequently.......is there such things as nothing to report? < ---- Really depends on the nature of the coy. Also coy only do announcement when they need to.

g) High net gearing < ----- This one fair ---- High Net gearing coy is bad.

h) Business that depend heavily on other foreign government policy......like must get what permit to cut tree la.....after months to year still cannot get lor.  Good ones are those that get permit alredi than start  . < ---- What if people wanted to expand and require new license ?

i) Company that has excess cash such that analyst is worrying about it. < ------ Excess cash is one thing but having excess cash and doing nothing is different story. If a coy is solid really  having a huge cash reserve the one thing  you will do is give out special dividends and  do  share buyback  as treasury shares. This kind of coy cannot go wrong and surely their stock price will rocket high pretty soon.

j) Company that did not get all resolutions passed at AGM.......very early warning......may not develop into a problem. < ---- True as management are quite divided and if they are clueless about where to go .... they will failed eventually. Waste of resources.

Andrew      ( Date: 26-Feb-2011 17:06) Posted: OK......let list down the characteristics of a bad company : a) No DIV or low DIV b) Change Auditors frequently, or worse auditors did not complete term c) Change of Core Business, one moment sell coal, one moment sell solar cell.  The worse are those following the Green Trail..... d) Negative trade receivable e) Company who failed to report change in percentage of major or sub shareholder within reasonable time frame. f) Companies that don't update investor frequently.......is there such things as nothing to report? g) High net gearing h) Business that depend heavily on other foreign government policy......like must get what permit to cut tree la.....after months to year still cannot get lor.  Good ones are those that get permit alredi than start < ADV> . i) Company that has excess cash such that analyst is worrying about it. j) Company that did not get all resolutions passed at AGM.......very early warning......may not develop into a problem. How ? Anything more ??

 

China Hongx & China Sports both cannot touch.

 

 

OK......let list down the characteristics of a bad company :

a) No DIV or low DIV

b) Change Auditors frequently, or worse auditors did not complete term

c) Change of Core Business, one moment sell coal, one moment sell solar cell.  The worse are those following the Green Trail.....

d) Negative trade receivable

e) Company who failed to report change in percentage of major or sub shareholder within reasonable time frame.

f) Companies that don't update investor frequently.......is there such things as nothing to report?

g) High net gearing

h) Business that depend heavily on other foreign government policy......like must get what permit to cut tree la.....after months to year still cannot get lor.  Good ones are those that get permit alredi than start < ADV> .

i) Company that has excess cash such that analyst is worrying about it.

j) Company that did not get all resolutions passed at AGM.......very early warning......may not develop into a problem.




How ? Anything more ??

 

IF it collapse it is a BIG case. Total no. of shares issued = 2.8 BILLION Mkt Cap ~ S$420million (@pre-halt price of 15c). Many of these 2.8 Billion shares could be held by retail investors, S'porean in particular.  Very scary now!

• China Hongxin Sports (S$400m)
• Jurong Tech (S$130m)
• Fibrechem Tech (S$96m)
• China Milk (S$177m)
• China Sun (S$44m)
• Sino Env (S$45m)
• Celestial Nutrifoods (S$108m)

 

commando      ( Date: 26-Feb-2011 10:26) Posted: any one hold alot of shares in this company?

 

I've mention many times before  as S-Chips can give you 100% capital lost !!

 

sell sell sell! Sell all e s-chip counters listed in sgx, sell em b4 its too late!! warning! warning! after so many warning from all e forumers, sell it asap! else regrets!

 

Cannot. The more worrying thing would be the vendors of CHX.  What will these vendors do ?

peterlimkopi      ( Date: 26-Feb-2011 12:31) Posted: i hold 10 lots in this shit... Does tt mean that in a suspension, i won't be able to sell these 10 lots at all? Im quite new to this...

 

i hold 10 lots in this shit...

Does tt mean that in a suspension, i won't be able to sell these 10 lots at all?

Im quite new to this...

 

Ya......fake statement of account and even complete with fake bank manager in a fake bank branch.  Really........as seen in SinoEnv. They would usually show auditor a photo copy of the SA lor.......and not true copy.


While CHX comes as no surprise, a few years back I alredi mentioned it.


I am thinking of selling out my unifood.......my only S chip which I thought was a reliable company. 

These Chinese simply cannot be trusted.....Unifood are supposed to release results on the last Fri of Feb which is yesterday.

GuavaXF30      ( Date: 26-Feb-2011 11:38) Posted: Sad but most likely true. You will recall they had rumours about their finances before and they even held a press conference to show  a bank statement print-out to show that they had cash ina  Chinese bank. Looks like Chinese bank statements not very reliable...... This is a goner. bishan22      ( Date: 26-Feb-2011 10:56) Posted: Looks like same fate as Sino Enviroment. Good Luck.