30-07-2012, 11:19 AM
(30-07-2012, 03:36 AM)ValueBeliever Wrote: I think SGX and the rest of the investment community are idiotic in their believe that Chinese Business community are reliable and bona fide business. They are making a fool of themselves as much as being careful not to stoke liability in bringing such Co. without careful check on the background of the people behind these Co.
If you read it what has happened to Hong Xing it sound as if the directors are running scamp and yet the auditor dare not speak their mind. The whole bunch of lies and crafty statement about director are not aware the lending that goes on to subsidiary and suppliers are absurd!
Then there is this stupid The Edge article about ang mor being sympathetic to chinese SME and wanting to help them against short sellers! It sounded like the policing of the market by smart is guilty of revealing the crime that is the Co. own undoing in the first place!
This just show that how flawed the wishful thinking our leaders are - to the point that we convince ourselves that the chinese are learning from such mistake in check and balance? Looks to me HongXing directors get a pad on their back by having done a good job in convincing the auditor!! haaahhhaaaa...
Imagine the amount of money that would have been made just by shorting rubbish Co. listing. The constant raising of funding by Chinese Co. is clear and present danger The reason for funding for growth is to swindle bond and shareholder and that's how the Chinese Economy works in general! If you want to make money, SGX can make money - just bringing more of this Ang Mor that are great in snooping up crooks and we trade by shorting them!! haahaa
If chinese bank steer clear of lending them, why should singapore money be used to finance crooks!!
Let just watch and see how far and wide the entire chinese stock market will fall....It has happened in HK in the 70s before, and I think in the case of china, it could well be 100x more troublesome for communist to crack the SOE...a corrupt system breed corrupt SOE and the rest of the China Inc., destroy the entire society!!
Our stock exchange, in a desperate attempt to raise earnings, would do whatever it takes to attract companies to list here. Out of every 10, perhaps 1 of investment grade, 2 mediocre, and the remaining 7 are Sh**. These 7 come here to suck money from naive investors ( i was one such idiot when i first started buying shares, my initial portfolio consisted of Sh** like erata, cacoa, cmilk, ferroc, csky, celestal, taisan .. in retrospect, i was really lucky to make money out of these Sh** counters)