S-chips make a comeback in Singapore

[d.o.g.]

It was clear years ago at IPO that there was something fishy when the company used fair value accounting for its milk sales.

One of my friends who went to visit the company a few years back also concluded that it was a fraud.

Too bad so many "investors" refused to think for themselves and blindly bought the shares. Yes, that includes the "professional" investors who bought the convertible bonds.

"China! Milk! Listed in Singapore!"
"High margins! High ROE! Low PE!"

Who is to blame? Look in the mirror.

"Thinking is the hardest work there is, which is probably why so few engage in it."
- Henry Ford