you will never get all the answers, bottom line CF & Co, are still sneaky enough to depressed the share price, to buy as much they can at the lowest price possible, but it may backfire and never go up, when and if they declare any dividen, because by then the market be aware of their activity.. CF is still bound by Hong Kong Law, even though he might get sccot free of the toothless bursa...so there is a chance to go afte him, but proving anything requires unlimited tenacity

Indeed the press conference was dodgy, a poorly planned after thought...

Get Real Man, when Have conflict of interest ever been a issue in this our beautiful Country. From our highest level of politicians to every other facets of our society practice it...

I do agree the CFO, is the one most lame brain I ever had the pleasure to meet....

it's Kiasu new auditors that being overlly cautious, people should read earlier post before posting the same questions over & over again.

so he can buyback at lower price... duh

some never bother read th facts as presented, the complications of the police report is because some none performing were fired, any they were on strike, with some lodging a police report as well on the managements. There were some issues with the local council as well...

KUALA LUMPUR: The management at China Stationery Ltd (CSL) is working very hard with its auditors to put the company’s financial book in order and avoid a lengthy trading suspension of its shares on Bursa Malaysia.

At stake here is the company’s diminishing reputation, as investors thumb their noses at problematic China-based firms listed on the local bourse.

“Most of the things are done. The only items left are the police report, the insurance assessment report and the assessment of compensation for customer losses,” CSL chief financial officer Chin Siew Weng told a press conference yesterday.

A day earlier, the exchange said it would suspend trading in CSL shares from July 9 for failing to submit its audited annual financial accounts on time.





Chin said the company was confident that it could submit its 2013 audited accounts and first-quarter accounts for the financial year ending Dec 31 (FY14) by the end of the month.

Shares in CSL had plunged 42% in the past four days to close at 7.5 sen yesterday, as investors dumped the stock ahead of its trading suspension.

CSL had blamed the fire that destroyed its factory in Fujian in April for the delay in submitting its accounts.

Chin said the time required for the its 2013 books submission was subject to the speed of reports issued by the Chinese authorities in relation to the fire while the auditors would need three to four weeks to work on them.

According to him, each director of the company could also face a fine of RM1,000 a day during the suspension period, hence, it would try to submit the audited statements “best possibly before July 9”.

To speed up the process, he said the company had requested the authorities in China to issue the respective report on the fire. Chin showed a document dated April 30 issued by the local fire department stating that it was still investigating the fire and could not provide the company with the investigative report.

Without a police report, the insurer cannot proceed with the evaluation of the accident, he said.

Although not confirmed yet, he estimated that the fire could potentially impact its top and bottom-line by 30% to 40% for FY14.

Chin said the company should be able to remain profitable for FY14 although its second quarter results would be hit by the mishap.

The net asset value for the affected plant stood at 222 million yuan (RM114.22mil) as at Dec 31, 2013.

With reference to the StarBiz report headlined Bursa to suspend China company CSL, fails to meet extended deadline yesterday, China Stationery clarified that it had on June 26 received the bank confirmations.

I am still stuck with 500,000 shares each in Patimas & SAAG

Indeed a good show, at the very least this counter WILL BE a learning curve for many....

massive short selling in cimb today, may recover later after 4.30pm

I am reporting this to the forum, as I heard it. The stock will be suspended on July 8, still very risky for investment but those with balls of steel can risk trading for quick profit the next few days. I can no longer buy because my trade account in cimb expects cash upfront for CSL share buy

hence auditors will not sign off, untill all assets sighted and bank confirmations.

To be exact Cash in Bank RM1.24 BILLION. About 40 people, heard him say it, plus I'm sure it will reported today in the press

Just how many of you attended the meeting with the CFO?

He had confirmed:

1. Production as stopped.
2. Revenue as dropped 40%
3. Cash in bank 1.25 billion

buyback has been confirmed...

cimb just imposed cash upfront for csl share purchase.....

Some education here, it's not illegal to sell high shares you already own and buy back later on day trade.

You are also not an insider, if you are bold enough to ask the right questions and the management is stupid enough to answer....

Now it's getting personal.

Some people drink from the fountain of knowledge, others just gargle. • Robert Anthony

What waste of my time in Oxford....

would not bother to reply but alas for those who I had met face to face in this forum - those kindered spirits...

During volatile times, you change strategy from investment to trading. Sell high and buy lower. That what I been doing in CSL for the past one year. Trying To share but naysayers are jumping on the bandwagon. Sour grapes - I SAY!

Some still don't get it, there is a difference between trading & investment

#Hot Stock* China Stationery falls 35% after Bursa rejects extension plea
Written by Jeffrey Tan of theedgemalaysia.com
Wed Jul 02 2014 11:12:19 AM
KUALA LUMPUR (July 2): China Stationery Ltd (CSL) fell as much as 35% after Bursa Malaysia rejected its request for more time to submit its 2013 audited financial statements.

Yesterday, the China-based company announced the stock exchange rejected CSL’s application for a further extension of one month to July 31, 2014 from the extended deadline.

CSL was given five market days to issue its reports failing which Bursa would impose a trading suspension of its shares effective July 9, 2014.

At 10.45 am today, CSL lost 2.5 sen or 21.7% to 9 sen. The most active counter saw trades of some 49.6 million shares. It had earlier fallen to a low of 8.5 sen.

A dealer told theedgemalaysia.com: “CSL’s decline today is definitely due to Bursa’s rejection of its application for extension.”

Meanwhile, InterPacific Securities’ remisier Sam Ng questioned the company's inability to produce the audited financial statements.

“Where is the integrity of corporate governance on listed companies such as CSL?” he said over the telephone.

Given CSL's net tangible asset of RM1.27, price earnings ratio of 0.5 time and positive net cash of RM1.27 billion, Ng was puzzled why the company was unable to produce the statements.

On Monday, CSL had sought for additional time for its auditors to finalise the audited financial statements following a fire incident that occurred at its plant in Fujian Province, China in April this year.

Earlier, Bursa had approved an extension of two months, which was from May 1 until June 30 this year.

According to CSL, the fire incident had necessitated additional disclosures by its board of directors in the audited consolidated financial statements, and by Messrs RT LLP in the auditors’ report.

Both of these will take some time to complete, it claimed.

retail investors don't have that parity, some investors of Patimas, have been trying that but it a major hurdle and bursa WILL NOT HELP....

delisting is not end of the road, I still receive have shares in Ytl cement, Patimas, SAAG, Bernas, etc, some are gone, some still operate. You become a private share holder, only you can't buy and sell in Bursa. Someone still approach me to buy my Bernas share.If under receivership, you may still receive proceeds after paying off debts.

SIMPLE COMMERCE......

such bile, must have lost a tonne

the irony is all the naysayers are still in the CSL forum, nobody puts a Gun, to buy share. You take a calculated risk, sometimes your are succesfull. I just made 18k in icon. I bought I much as I can at 1.85, today I sold all 1.90. Last week I bought DRB, today at a paper loss of 16K.

My intentions in partakings in such forums is not to peddle shares in companies but to share (pardon the pun) my trading patterns and whatever data I can dig up through my research and phone calls to the respective management. Nothing sentimental about it but Faith to trade. Always know that whoever sell to you or buy shares from you, is hoping they make money not you....

overall, if I look at my total realized gain in CSL is about 27,500.00. Yes, indeed I lost in the beginning, when I bought some at above 0.90, but over time, i had recover my loss and now, I only invest about 30k. if delisted now, i lose 2500.00 and not my rent money.

faith to trade, I sold all at 12.5 and bought some yesterday at 11.5. Today made 500.00, bought at 0.085 and sold at 0.09. Now q at 0.085 -0.075

faith

appeal against suspension just filed....

Suspension pending in 5 days

Further to our announcement made on 30 June 2014, the Board of Directors of CSL wishes to inform that Bursa Securities has via its letter dated 1 July 2014, rejected the Company’s application for a further extension of time of one (1) month from the Extended Deadline till 31 July 2014, for the issuance of 2013 AFS pursuant to Paragraph 9.23(2) of the LR.



As per the rejection letter dated 1 July 2014 issued by Bursa Securities and pursuant to Paragraph 9.28(5) of the LR, if CSL fails to issue the 2013 AFS within 5 market days from the expiry of the Extended Deadline (the last day of this 5 market days shall hereinafter be referred to as "the Suspension Deadline"), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of CSL.



The suspension shall be effected on the market day following the expiry of the Suspension Deadline and shall be uplifted on the market day following the issuance of the 2013 AFS unless otherwise determined by Bursa Securities. As such, the suspension will be effected on 9 July 2014.



Pursuant to Paragraph 9.28(6) of the LR, if CSL fails to issue the 2013 AFS within 6 months from the expiry of the Extended Deadline, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against CSL.



This announcement is dated 1 July 2014.

CFO, selling.... ?

Name of Principal Officer - Chin Siew Weng



Date of Disposal - 25.06.2014



Average disposal price per share (RM) - 0.125



No. of Shares Involved - 100,000*

*shares held by his mother.

something cooking here? Price up today...

two weeks ago bought 500,000 shares between 0.11 & 0.115. Now sold all at 0.13. Still can make money out of CSL.....

time to stock up, bottom out now, should be moving next few days

What suspension, all accounts sighted, will be released latest by mid June...

CSL has been shortlisted for some funds purchase, might move soon. Caution this is unsubstantiated,observe first before trading...

Shares price is not always a relections of the performance of a company. The price is at the stage the major shareholders a happy to be in at this point, untill they mop up most of the free float. I give myself untill end of july before dumping all. I been doing this for 15 years, I have made a million/lost 900k, nett nett 100k, over 15 years on part time trading.

Even the factory is not rebulid, according to Chin, they have recovered 80% of production capacity, with routing to other workcenters

major mop up of retail free float shares, those with staying power hang on till July 17. You been informed.. don't regret later... time will tell... I have now 1.3 million shares.

Dividend is expected to be 1.03 cent and the best of it is No tax is payable on the dividends declared by the CSL received by shareholders as it is income from a foreign source in
accordance with Paragraph 28 of Schedule 6 of the Malaysian Income Tax Act, 1967

would trade higher on Friday based on the latest financial report

For the current financial quarter, the Group recorded revenue of RMB179.6 million, down 3.1% compared to that of RMB185.4 million in the corresponding period last year. With overall volume remaining more or less the same, this decline was primarily due to the drop in the average selling prices of certain products by 5.7% to 7.0% on a year-on-year ("YoY") basis.As a consequence, the Group's gross margin was reduced by about 6.6% to 29.6% for the current financial quarter from that of 31.7% for the corresponding period last year. Despite the drop in revenue and gross margins, profit before tax ("PBT") increased by 25.4% to RMB47.2 million in the current financial quarter from that of RM37.7 million in the corresponding period last year. This increase was mainly due to one-off listing expenses of RMB11.3 million incurred in the preceding year as well as the YoY reduction in administrative expenses of RMB5.0 million.



Basic earnings/(loss) per share (Subunit) 3.20

but at current price, there is very little downside, trading way below Net assets and cash in bank

major goreng session today

the fact that some many naysayers still hanging around this forum, shows something to ponder about this counter. Time will tell, and that time will be 17 july

all account intact in accounting system, only hard copies lost, which auditor as asked for copies

just got confirmations, dividen will be tabled in July board meeting, which has been delayed from May to July... more to come

Some very positive news from my meeting with CSL management. Before i reveal this information, I need a answer that I posed many times in this forum, I need all to share, the number of csl shares they have, then we we can combine our voice to be more vocal to the board of directors. I have about 1 million shares.....

Price down today has been initiated by the Big 3 to 6.80.Under massive attack, till T4 before recovery, fascinating time for next week.