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dont do anything about it, many can see how weak our government is.
Do something about it looks like cant really help! SGX must really do a detail background check on S chip management. It will be necessary in future to declare the background of police record, private investigative background check and qualified statement from at least 3 referral (professional people who knew CEO/founder of business).
Otherwise, SGX cannot be allowed to list any S chip here!
Also a change of government has been out in the street, PAP gov got 2 years to solve a substantial amount of the outstanding case otherwise, voters will sack them! Their reputation at stake, but seems to me these days they don't care - look at the media control and you get what I mean!
Gaoxian to be relisted here - so some shldrs will still got hope!
IMHO the lesson learnt from S-Chips and structural reform should be:
1) Substantial part of the CEO or Chairman net worth to be within Singapore's jurisdiction
2) Holding company incorporated in Singapore
3) Extradition treaty with China
(10-07-2013, 09:25 AM)ValueBeliever Wrote: [ -> ]dont do anything about it, many can see how weak our government is.
Do something about it looks like cant really help! SGX must really do a detail background check on S chip management. It will be necessary in future to declare the background of police record, private investigative background check and qualified statement from at least 3 referral (professional people who knew CEO/founder of business).
Otherwise, SGX cannot be allowed to list any S chip here!
Also a change of government has been out in the street, PAP gov got 2 years to solve a substantial amount of the outstanding case otherwise, voters will sack them! Their reputation at stake, but seems to me these days they don't care - look at the media control and you get what I mean!
Gaoxian to be relisted here - so some shldrs will still got hope!
SGX in its attempt to grow earnings, have allowed many of these s**t companies to list here, to the detriment of many many retail investors. That's so sad, my dad has 30 lots in chinasky, looks like the total cost of $7,851 will go down the drain, that's easily 3 months of hard labour.
SGX, do you see how much pain you have brought to my family???
Equities of foreign based companies should be considered as a SIP so that retail investors lacking knowledge of the risk involved will not fall prey. With that being said, fraud companies are a real risk and investors shouldn't easily dismiss it.
Why are they so afraid of PRCs ?
So, in other words, the CEO is now a fugitive?
(10-07-2013, 10:32 AM)specuvestor Wrote: [ -> ]IMHO the lesson learnt from S-Chips and structural reform should be:
1) Substantial part of the CEO or Chairman net worth to be within Singapore's jurisdiction
2) Holding company incorporated in Singapore
3) Extradition treaty with China
No. 3 is difficult if not impossible. China is one of those countries that does not extradite its own citizen to another country.
(10-07-2013, 11:19 PM)touzi Wrote: [ -> ] (10-07-2013, 10:32 AM)specuvestor Wrote: [ -> ]IMHO the lesson learnt from S-Chips and structural reform should be:
1) Substantial part of the CEO or Chairman net worth to be within Singapore's jurisdiction
2) Holding company incorporated in Singapore
3) Extradition treaty with China
No. 3 is difficult if not impossible. China is one of those countries that does not extradite its own citizen to another country.
Yes difficult but China and Singapore has good relationship.
http://www.nytimes.com/2007/05/29/world/....html?_r=0
The Suzhou project was the pet of Oldman and got swallowed by the chinaman , now the Tianjing project also a black hole, S'pore also pretend like these projects are very successful.
(11-07-2013, 11:20 AM)specuvestor Wrote: [ -> ]Yes difficult but China and Singapore has good relationship.
http://www.nytimes.com/2007/05/29/world/....html?_r=0
Extraditing Chinese nationals, who has committed crime in China and fled overseas, back to China is what the Chinese government wants. Some cases are described in the NYT article.
Extraditing to other countries Chinese nationals who has committed crime overseas is not what they want.
Some day things may change, but this is the current stand of the Chinese government.
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