You guys still dreaming China's companies can give hope? Avoid is the best choice now. At least you won't feel hopeless in one day later....

All non sense..... they really think Malaysians are small kid. I don't think SC can do anything.

1.         Given that the par value reduction is to facilitate the issuance of Rights Issue shares and there are no accumulated losses by Xingquan, please provide further justification for your Company to undertake a steep par value reduction from US$0.10 to US$0.01 each.

The purpose of the par value reduction is to provide the Company with greater flexibility to price the Rights Shares at an attractive discount to the market price at the price fixing date to be determined. The recent slump of the value of RM against the US$ has restricted the ability of the Company to price the Rights Shares and Warrants B attractively as the current par value of Xingquan is US$0.10 (equivalent to approximately RM0.43 based on the BNM’s exchange rate of US$1.00:RM4.3385 as at the LPD) and the Company is not allowed to issue shares below its par value under Bermuda Law.

Reducing the par value of Xingquan to US$ 0.01 will provide a larger buffer to cater for a situation where the RM further depreciates against the US$ and/or Xingquan’s share price falling below its present trading price.

Further, the steep par value reduction would not result in any change to its net asset position and any adjustment to the shareholder of the Company.

2.         Your Company has represented that it has cash and cash equivalents of approximately RM886.55 million or equivalent to RMB1.457 billion ("CCE") as at 30 June 2015. In this respect, please further substantiate the needs to raise RM26.94 million (Minimum Scenario) or RM50.71 million (Maximum Scenario) via the Proposed Rights Issue with Warrants which represents only 3.04% (Minimum Scenario) or 5.72% (Maximum Scenario) of the CCE respectively.

The Company wishes to clarify that the cash balance of RM886.55 million is mainly reserved for working capital, and as explained in the announcement dated 25 September 2015, Xinquan requires sufficient cash buffer and a high level of working capital to ensure minimal disruption to its operations in the event of a liquidity crisis or a sharp economic downturn. The purpose of the Proposed Rights Issue with Warrants is to raise funds for Xinquan’s capital expenditure requirements whilst maintaining a healthy level of cash balances at all times.

In addition, the available cash balance may also be used for future business expansion into related businesses, in particular, acquisition of foreign brand(s), if and when the opportunity arises.

3.         Based on the CCE of RM886.55 million as at 30 June 2015, it is noted that the interest income received, based on the annual audited accounts as at 30 June 2015, is only RMB4,618,000. In this respect, please provide further clarity as to why the return on interest income is so low.

The Group has placed its cash balances in savings accounts with licensed banks in China which carries an interest rate of approximately 0.35% per annum. The cash is placed in savings accounts as the cash is not idle and is required to fund Xinquan’s day-to-day operations.

Don't ever touch RED chips stock! There are many good stock out there to choose. History can't lie, they will suck your blood then slowly swallow your bone. Our SC is suck, allow them to con. If this happen in SG, they will pack their bag and send them out. This is why SGD1 to RM3.1x now. SG government protect resident been cheated by outsider. Malaysia government open up the gate for wolves to enter.... This is the different.

If you all still hold the shares and feel like been cheated. Go ahead to lodge the report to BURSA MALAYSIA. Let them investigate all the China companies.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4863033

She knows and ready for it. Disposed all the WA earlier....

As at 30 June 2015, Xingquan Group has cash and cash equivalents of approximately RM886.55 million.

So much monies in account, but still thinking right issue to cheat more monies.


* Propose right issue is to buy machines with estimated cost around RM56.6M. How come with reserve cash more than eight hundred million, they can't use internal fund to buy it?

The Group plans to acquire 60 units of new circular knitting machines and 20 units of new warp
knitting machines which are able to handle complex knitting patterns. The estimated cost for
each unit of Circular Knitting Machine and Warp Knitting Machine are approximately
RMB450,000 and RMB2,800,000 respectively (equivalent to RM306,630 and RM1,907,920
based on BNM’s exchange rate of RMB1.00: RM0.6814 as at the LPD). The total estimated
cost for the knitting machines is approximately RM56.6 million or RMB83.0 million, of which
RM25.9 million (under Minimum Gross Proceeds) and RM49.7 million (under Maximum Gross
Proceeds) will be financed via the proceeds from the Proposed Rights Issue with Warrants with
the balance funded through internally generated funds.

Pitty to the retailers and minor stakeholder, all China companies are same. They will create more ideas to cheat more $$$.

The choice is yours!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4877033

They are very clever shark.... End up they will swallow the company and left out nothing to you all. PAR reduction then right issue with discount price again. Who is benefit?

http://www.cnbc.com/2015/09/24/malaysian-ringgit-sell-off-may-worsen-over-economy-1mdb-najib.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=103021844

1MDB and Najis are the causes of MYR drop. He is useless leader.... just know how to diam diam makan and do nothing to the country crisis.

http://news.sinchew.com.my/node/443900?tid=1

For me. Malaysia no longer safe and happy to stay.... Myself and my company every year contribute almost 50k tax to government and now with additional 1xk plus every month for GST. What government give me? End up when someone scold my race, they just pretend nothing... This is too over, if this K idiot is so smart, tell me what had he contributes to the country? This small fly just know how to jeoulous peoples and take advantages. Shit king.. Pui....

http://www.chinapress.com.my/node/656197 

20B where got enough to fill up FF holes? He needs more donation from everyone of you. Please give your sincere donation. Later he will come out more stimulus... everyone is happy

If FF want chow, let them be. Najis will fill up the gap, KLSE is the most safe heaven in this world. Najis will asks more donation from Arab countries to fill up his bullets. Play cock is 100% winning now. Next week top up more cock...

KLSE can move independently without outside interfere... Why so worried? As long as Najis there, cock won't die mah.. last few minutes they can boost up the market. Drop 50 points can turn to green if shit happy...

http://news.sinchew.com.my/node/444009

Then you should buy more. Najis will be happy to see you with him. Maybe he will give you 1B... monopoly notes.

Banker and Player game... Who will win?

1st Card to Player 9
1st Card to Banker Picture

2nd card to Player 9... Excellent double 9 = 8 very very advantage
2nd card to Banker... guess what? ........ Winner always Banker, this is phenomenon of game.

When overall condition look disadvantages, there will be a big surprise later...

The big wave is around the corner.... The faster it drop and the faster it rebound.. I'm happy if Malaysia can against the world. But just ask yourself , can Malaysia do it? Holding up the stock just let peoples got enough time to unload and leave with full of $$$.... This is call bolehland..

Student should avoid this p or c. Playing this game just like gamble on banker or player. It looks attractive if you are lucky enough, few minute can reach 10%++ gains and it can reach 100%++ gain in a day. But if you are predicted wrongly and no holding power, you will lose your pants. If want to invest, go for blue chips or high dividend yield share. You won't earn much, but steady. The choice is your.

No problem lah, even though all bad news. For sure one thing is good, MY bought one submarine, how bad also cannot submerge... hahaha

Gap up? Holland only small boat, Greece is a ship, guess what is China?

Talk like expert and act like expert, soon you will go sky....

Yeah yeah yeah, sell all and ham kah liao, you will stay in big bungalow soon...

SIGH, another China Story.... The best is try to avoid them no matter how good the figures they show you.

Shame la Tok Kong Martin.... 10days paased, but still can't see you limit up 1x.. your Tok Kong really powerFUL....

Martin Tok Kong left and now Simon Tua Pow lai? Hahaha.. you have multi characters lo.. keep up the good job! U r sick seriously and your GOD FATHER also can't safe you now.. 2 sad.

Should let u Tok Kong more about this counter, come come come, you have 7 days left to keep limit up and up and up and up..... I hold ttight tight my coconut tree to watching the show.

So so so scare... hahahaha

Jialat... back to square...

Tok Kong Martin now become lan ciao kia.... want to say lan ciao say lo, you think you r still virgin meh? Blue Bird! Puiiiiiiiiiii

Again, How Bear + Song = Bird + Song = BLUE BIRD (Lan Ciao)? Where you graduated from? Don't Sia Sui your school lah. Let me tell you lah, Bear + Song = (Bei + Song) or Tak boleh song.. Dont know ask la, don't Keh Gao Gao

hahahaha.. don't play play with china doll lah Tok Kong Martin. I think you better go gim your GOD FATHER lan ciao aunt aunt, later you will see the roller coaster... lost peanut (until no underwear) for me is nothing, but playing with you chin nia song.. How many tonnes of Tok Kong are you? Everyday seeing you Tok Kong here and Tok Kong there.. Wakakakakaka

Go hell np. But you no need to ask ppl follow,you can enjoy your heaven life. Kaki Kong Kaki Song, Kaki Bei Kaki Par, Martin Tok Kong. Malaysian con by local conman still fine, if keep con by China conman, then shame lah.... i hope you can prove me wrong in next 8.5 days, but your % is only 0.01%. History prove everthing, go find out if you are still blurr bblurred...

No worries everyone... Martin555 SOHAI who act like the GOD FATHER will save you all.. he says wave is coming for China conman stocks.. Xinquan first then XDL, MSPORTS, KSTAR and many many more... TSUNAMI is coming, better hold tight tight.... But i choose to hold coconut tree only.. wakakaka....

Wave to Greece or Holland? Then you better hold your father tight tight... see you in 9 days later Martin SOHAI.

Sohai... Today out, closing 0.51. Still got 9days for you to reach 60. You see I so kind, you said 5days I give you 10days.

Yup... I bet a lot here and I lost all my pants and underwears... kikiki.... But luckily I met one Martin SOHAI here.. very worth actually.. hahahahahahah.. everyday laughing until no tear drop.

hahahahahaha..... limit up and up and up and up again... I think you see it when you are dreaming... kikiki.. Martin SOHAI

Opps... I think I talk to orangutan. Mad seriously.. Kaki Kong Kaki Song... better evacuate... hahaha

Wow... limit up and limit up for conman counters? I respect ppl to dream big, but don't bluffing like 'TOK KONG' If until end of next week can touch 60. I give you my respect and quit from here....

Hahaha.. Don’t get this too serious... a lot ppl like to challenge this and that... but when something really happen, they will quiet and disappear like smoke.. I think you are super dare newbie to these china conman counters... hope to have more ppl like you to push it up.. A lot ppl in trap will appreciate you..

Yeah yeah yeah... Super cheap sale now, you better grab more before too late. A lot of ppl chasing this counter when IPO 1.7 down to 0.5 and now 5yrs aleady. What they get? Maybe you give yourself another 5 years and see how later. Since now only 5x... I guess not much you will lose.. worse is drop to 1x.. another -80%...

You hold a lot meh? Why want to keep promoting all these suck china conman companies? No worries lah, you can take it all... No one trust them...

hahaha.. If better than adidas, nike and etc, they already come to take over. Cash per share more than RM2 and now only RM0.51. Last time even worse, RM0.3x... When say something must think logic lah....

Cute Chinaboy, buy more and more on china conman stock next week. I will ask Warren Buffett to privatises one by one. You need $$$ and he also needs. Everyone should happy then... kikiki

If this company got so much cash, Mdm Ng and Monkey Xie no need to keep throw their warrant and share like no tomorrow. Think twice before you enter!

Can ask Warren Buffett privatises it at RM1 with current price 51cents? Then he can stilll earn at least RM1.5 per share exclude other asset. For current share holder, with around 100% gain, i dont think anyone will object. Isn't this is a good deal for all?

My intention is to ask new comer avoid all these china conman. If your money is not hard earn money, you like to fried char koay teow and you have a lot of $$$$ to burn, then you can go ahead, there are a lot of china conman waiting for you out there. I’m not anti China-man, but history in KLSE already proved that all china companies are not only trying to suck blood, but they are trying to eat your bone as well. You can name me one china company who listed in KLSE can really share out their ‘treasures’ to prove me wrong. The ‘treasures’ for me is a ‘time bomb’.

Buy more from DING SOHAI, he is selling cheap at 13 and now is 15.5. You gain 2.5 a unit now.. buy more and more

Chinaboy, you are so cute. I dint owned any share actually. I come to stir you only.. are you happy? Sillyboy.... hahaha hahaha

I owned blue chip only.. at here is to helping new comer avoid china conman.. I guess u owned a lot conman shares, chinaboy.. kikiki