Posted by AyamTua > 2015-12-31 16:23 | Report Abuse

gua suka cara uncle koon tulis blog...
ala ala chedet .. points by points

hihihiii

Posted by Munger > 2015-12-31 17:23 | Report Abuse

I tot mr koon stand very firm that all shares he bought must comply to his golden rules? Buy more when a co make more money qoq...reduce position if co making less qoq? Now change tone

Posted by i4investor > 2015-12-31 17:33 | Report Abuse

today go up lor...they want to give dividend?

Posted by crossroad > 2015-12-31 17:41 | Report Abuse

Transmile also audited by Deloittes... in the end the account found to be fraudulent... Xinquan NTA is 3.72, would not it be to the controlling shareholder advantage to take the company private at current level, or even at RM1?

Posted by southwark > 2015-12-31 17:46 | Report Abuse

How come kyy write this on 30th will full confidence and then walk out of agm on 31st?

Posted by southwark > 2015-12-31 17:46 | Report Abuse

http://koonyewyin.com/wordpress/2014/02/14/why-xingquan-is-not-giving-dividend/

Posted by southwark > 2015-12-31 17:48 | Report Abuse

1mdb also audited by EY then Deloitte, they claim they do bank confirmations for investments...but where is the cold hard cash?

Posted by southwark > 2015-12-31 17:55 | Report Abuse

GT might have done normal audit procedures in getting bank confirmations for cash balances, but this procedure is still susceptible to fraud as bank letters can be intercepted midway. The auditors will always cover their back by saying they have done the right thing and the cash exists, but if the company that's been sitting on cash for,so long can't utilise the cash pile in the most efficient manner then it is not in the best interest of shareholders. It is therefore not surprising that people avoid this stock. kYY always preach his golden rule of low PE and increasing profits, but in this case management integrity matters most more than anything else. Management has not done enough to convince shareholders. Mr Koon may have visited their china factory, but I'm curious how many times has he spoke to management in depth to find out their real intentions

Posted by tpchit > 2015-12-31 17:57 | Report Abuse

good indicator
that means they have 10% of the total cash as claimed
90% bull shit, china gangnam style


Posted by 914601117 > Dec 31, 2015 04:14 PM | Report Abuse

Interest received = Cash of RM 1billion x 3% interest pa = RM 30m pa. But shows only RMB 4million interest recieved for whole year. Smell rat?

Posted by DingDongHai > 2015-12-31 18:39 | Report Abuse

Dear murali,

I feel sorry to you if ur intention is to make privatization plan to koon, with noble intention.

I just do not want to see ppl attack blindly each other, and keeping anger spread to others. Investor should have rational, there is no supporter or opposer of Koon here, we just come for making money.

Posted by Mun Hong > 2015-12-31 18:51 | Report Abuse

if this is the answer koon yew yin gives, then xinghe will naturally be a hot stock soon.

Posted by DingDongHai > 2015-12-31 19:16 | Report Abuse

Rational rational rational. This is something frequent critic lack of.

Posted by tksw > 2015-12-31 19:25 | Report Abuse

Icon8888 sifu, you're right, I heard the China company's can even fake the bank's confirmation. Even if the cash is true, it is easily misappropriate. Some of the China companies boss disappear over night with the cash. http://companies.caixin.com/2014-07-28/100709425.html

Just this year one China Company spend RMB104 mil to buy 28 teapots: http://finance.sina.com.cn/stock/s/20150522/165822245958.shtml

Posted by tksw > 2015-12-31 19:27 | Report Abuse

This type of shares trade for short term may be can make some money, holding long term got to think twice.

Posted by Up_down > 2015-12-31 19:31 | Report Abuse

Good idea to syphon off money from the company through buying antique teapot, tea leaf, stone.... Is it possible to Xing Guan. Haha

Posted by Mun Hong > 2015-12-31 19:42 | Report Abuse

one thing that separates xinghe from xingquan is that xinghe gives dividend but xingquan isn't giving this year. kyy should explain more

Posted by zbaikitree2 > 2015-12-31 19:49 | Report Abuse

Mr KYY. Enron also heavily audited by the best and most reputable audit firm in the world. Arthur Anderson. year in year out AA sign off the Audit. all Funds poured in huge money. only to discovered its a scam, nothing but a scam.

then what happen?


wakakkakakaka. laugh9dieme liao. u never work as auditor u donna the inside story. i had.

Posted by zbaikitree2 > 2015-12-31 19:53 | Report Abuse

i worked as auditors in the 90s. during those year. Arthur Anderson was the Best audit firm in the work, all over the world offices they only hired the best of the best from the best of the best University. and all will send to Chicago for training 6 -12months. whether u started in africa office, or indonesia office.

i was not so great as to entered Arthur Anderson, i settled for 2nd best KPMG.

after Enron case, AA was sued until collapsed. all partners koyak. so the 2nd best became the no.1 best.

wakakkakaka.

Posted by zbaikitree2 > 2015-12-31 19:54 | Report Abuse

let me tell u the audit firm u mention grant thorton is the lousiest audit firm in the world.

Posted by Desa20201956 > 2015-12-31 19:56 | Report Abuse

You people all talk 3 talk 4.

KYY has given you all a risk reward proposition

Make your own decisions, based on your own assessments and age.

Posted by greatful > 2015-12-31 20:06 | Report Abuse

why he want to buy a stock also want to tell us?
why he didn't ask whether we want to listen or not?

Posted by tpchit > 2015-12-31 20:14 | Report Abuse

the rm3 cash per share is a scam

u don't need an auditor to audit and tell u how much cash in the company

if there is rm3 per share, insiders would keep accumulating the shares and an owner with a little common sense would have taken it private, basic human greed for richess

common sense tell that 90% cash is a scam, only about 30cts per share is the reality

Posted by enning22 > 2015-12-31 22:50 | Report Abuse

STAY away from China companies, or you find yourself dealing with guerrillas companies

Posted by chonghai > 2015-12-31 22:56 | Report Abuse

It seems to be after a successful 2015, uncle Koon is allowing old ghost to come back and haunt him again !

Posted by WanMei Chin > 2015-12-31 23:29 | Report Abuse

He walked out from AGM after failed to demand dividend from Board of Directors

Posted by crocodile1980 > 2016-01-01 00:17 | Report Abuse

Haha, I have been working in Shenzhen and Shanghai for 6 years. I couldn't find a shop or even a counter of this Gertop brand when I started to notice this "cheap" stock. I only can search a very few information regarding its internet purchase.

Posted by Tom > 2016-01-01 00:30 | Report Abuse

wrong title
should be “Why should you sell Xingquan? Koon Yew Yin”
xD 。。。。。

Posted by KangYew > 2016-01-01 00:43 | Report Abuse

KYY fought a valiant fight in there. Pls show some respect. Time to sell off this bloody share and let the mgmt play themselves

Posted by akuanakkampung30 > 2016-01-01 01:09 | Report Abuse

mmmm

Posted by Desa20201956 > 2016-01-01 01:25 | Report Abuse

The ultimate contrarian proposition.
Fellow readers don't appreciate it as the ultimate contrarian proposition...and one of the attributes of a successful investor.

provided one has the patience and the extra cash.

Posted by Y2016 > 2016-01-01 01:26 | Report Abuse

For those who are investing in this stock, shld b quick to cut loss now

Posted by Desa20201956 > 2016-01-01 01:46 | Report Abuse

I. Proposed Capital Reorganisation (Including Par Value Reduction); And ii. Proposed Rights Issue With Warrants

BackSep 29, 2015
Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-28092015-00002
Subject I. PROPOSED CAPITAL REORGANISATION (INCLUDING PAR VALUE REDUCTION); ANDII. PROPOSED RIGHTS ISSUE WITH WARRANTS
Description XINGQUAN INTERNATIONAL SPORTS HOLDINGS LIMITED (XINGQUAN OR THE COMPANY)

(I) PROPOSED CAPITAL REORGANISATION (INCLUDING PAR VALUE REDUCTION); AND

(II) PROPOSED RIGHTS ISSUE WITH WARRANTS

(COLLECTIVELY REFERRED TO AS THE PROPOSALS)
Query Letter Contents
We refer to your Company’s announcement dated 25 September 2015, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. Given that the par value reduction is to facilitate the issuance of Rights Issue shares and there is no accumulated losses by XINGQUAN INTERNATIONAL SPORTS HOLDINGS (“XINQUAN” or “Company”), please provide further justification for your Company to undertake a steep par value reduction from US$0.10 to US$0.01 each.



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.



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.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,





HENG TECK HENG
Vice President, Issuers
Listing Division

Regulation
TGG

Cc : Market Surveillance Dept. , Securities Commission (via fax)


the SC wants to know why a rights issue when they have $1 billion in the bank.

Posted by zbaikitree2 > 2016-01-01 02:41 | Report Abuse

has anyone incl the Genius KYY has ever thought that the rmb 1.3 billion deposited in bank is actually hell note? only recognised and useable in hell?

wakakakakaka. laugh9dieme liao.

Posted by AyamTua > 2016-01-01 02:50 | Report Abuse

thank god i am genius - sell xinquan buy xinghe hihihihi
why xinghe? got dividend... an oil counter.. cooking oil
and everyday people cook using oil... minyak masak

hihihihihiiiiiì hahahahahaahahaaha

Posted by AyamTua > 2016-01-01 02:54 | Report Abuse

xinghe - everyday people cook .. in china
xingquan - not everyday people buy tshirt..

good thing - xinghe pays divided and price so cheap
even my grandmother simply cant resist!

ayooo sama sama kita ubah .... to xing.. xingggg....

xinghe ! hahahahahhahahaha

Posted by AyamTua > 2016-01-01 02:56 | Report Abuse

xinghe ... minyak masak baik untuk kesihatan jantung
dan kesihatan wallet (harga tak naik tak apa asal ada dividen)
at lelong price 0.065 ! ohhh laa laaaaa ...

lai lai uncle aunty lai! .... hahahahahaaa

Posted by sense maker > 2016-01-01 03:55 | Report Abuse

What BOD of Xinquan replied to SC:

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.

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.

Just my views:

The long-suffering shareholders should have lodged a police report against the BOD. SC not least should have taken actions against the directors back in late Sep 2015.

Xinquan paid to suppliers far less than what it collected from customers all these years, generating free cash flow quarter after quarter in that process. Its day-to-day operation brings new net cash in and do not AT ALL eat into any parts of its RM945m. This is shown in P/L, Statement of Financial Position and cash flow statements prepared by Xinquan and audited by Big 4. This is also how its cash balance has been piling up in the first place.

Put simply, Xinquan could run its biz perfectly well and its working capital turns over very comfortably even if the RM945m is locked away in high-yielding FD or better yet, distributed out as dividend to shareholders, if its working capital is managed evenly throughout each quarter which is like 99% of the cases in all companies. Even in the hypothetical 1% scenario where Xinquan paid 100% of its suppliers on the first day of each quarter and collected from its customers 100% on the last day of each quarter, it would need just Rm120m of the RM945m to fund this worst and unlikely scenario.

It is outrageous for SC to accept BOD's replies to queries that clearly were not borne out by what its audited financial statements tell the readers.

The BOD has the audacity to ask from shareholders RM50m more via rights issue for capex. This is clearly a day-light robbery of its shareholders.

To many, the RM945m cash balance seems a bait dangled out by the major shareholder to keep existing and potential shareholders interested. Therefore one cannot be faulted for concluding that BOD may be buying time and getting more money from shareholders before the worst happens one day- disappearance of the biz.

Against the major shareholders, minority shareholder has little chance though. Perhaps they can try to file a special application to SC, or relevant authorities, court, etc to allow minority shareholders to collectively pay for and conduct a special investigation audit to establish the veracity of this Rm945m cash balance. If it does exist, apply for statutory permission or injunction to lock it away in a designated bank account, and then fight for a mandatory takeover from its major shareholders on special ground of mismanagement misrepresentation, fraud, etc. On paper this company has a break up value of RM3.70. So, the battle is worth it to find out the truth.

Posted by einvest88 > 2016-01-01 09:19 | Report Abuse

feel very suspicious 1. revenue keep going down since listing until today yet the company still able to make profit 2. EPS was flat and down since 2011...The 2nd condition is critical as no growth in EPS no way the share price would go up. That exactly meet the investment criteria emphasized by Koon.

Posted by MuttonCurry > 2016-01-01 09:35 | Report Abuse

Reminds me of Bon Jovi's "Livin on a prayer". Unfortunately religion is not my cup of tea. I respect KYY more so because he belongs to the generation of my fathers bred in honesty and integrity. Really do respect him ... but i as much as i hate to say it senility has been known to creep in at that upper tier in life

Posted by alphajack > 2016-01-01 09:42 | Report Abuse

Jtiasa is a good pick at current levels, I loaded some at 1.29 yesterday

It is half timber and half palm oil biz, should be no issue going to above 1.50 levels again in a month or two.

Posted by gnail > 2016-01-01 12:37 | Report Abuse

nvm, i think koon has a lot of money to lose

Posted by i4investor > 2016-01-01 13:04 | Report Abuse

got 3 possibilities for this recommendation now:
1) Koon want to release its cash trapping on this stock
2) Koon kena con by this company boss
3) Both together want to con the public

Which one do u think? or u have other opinion?

Posted by cpng > 2016-01-01 13:08 |

Post removed.Why?

Posted by murali > 2016-01-01 13:20 | Report Abuse

Koon koon is good man...just suffering fm multiple personality disorder only....

Posted by RichardD > 2016-01-01 13:27 | Report Abuse

can anyone tell me here who never make a mistake before in stock market?

Posted by leno > 2016-01-01 13:29 | Report Abuse

me.

Posted by RichardD > 2016-01-01 13:31 | Report Abuse

and this post is posted a day before the AGM, he did not coax u to buy and if he had waited after AGM only post this article maybe he will not do it anyway. Not that you guys are capable to push the price of the stock high so that he can get out. It is not so easy anyway. But all of us benefits from his stock pick's such as Geshen, Latitud, liihen and many more.

Posted by einvest88 > 2016-01-01 13:32 | Report Abuse

KYY stk pick if add with TA to determine the right timing of entry a wonderful tactic to make money....eg Jtiasa...a wonderful stk 2gether wit Subur Tiasa...just wait for right timing....

Posted by Icon8888 > 2016-01-01 13:41 | Report Abuse

I actually felt quite sorry for Uncle Koon after reading wikileaks' article about him walking out of the AGM

he must be very frustrated getting trapped with such huge position

By now, there is no doubt that it has been a mistake

But that is life, it is equivalent to a failed business venture

happens all the while in real world

just cross our fingers it doesn't happen to you and me

Posted by Icon8888 > 2016-01-01 13:51 | Report Abuse

ya, don't do that .....