Posted by Sslee > 2023-09-10 08:16 | Report Abuse

Any comment before I send out the email?

Posted by The_JQuestion > 2023-09-10 21:23 | Report Abuse

no comment. if u even get any reply, pls share :) . if not pls continue to spam them

Posted by i3lurker > 2023-09-10 21:36 | Report Abuse

sslee
Just pay RM500,000.00 to a law firm to sue BURSA

Posted by The_JQuestion > 2023-09-10 22:13 | Report Abuse

pls do it... i nvr see anyone wanna lose their fortune in the most interesting way :))

Posted by Sslee > 2023-09-11 07:14 | Report Abuse

Good morning i3lurker,
I will rather spend RM 500,000.00 to sue Xingquan External Auditor: SJ Grant Thornton, IPO: CIMB Investment Bank Berhad and RI: RHB Investment Bank Berhad principal advisor, underwriter and placement agent for:
1. Gross negligence and failure to perform their fiduciary duty; and
2. Complicite in above fraud/crime in auditing, preparing and approving Xingquan Financial Account, IPO Prospectus and RI Prospectus

Can you recommend a good law firm?

Question 3: Is SC investigating Xingquan External Auditor: SJ Grant Thornton, IPO: CIMB Investment Bank Berhad and PP & RI: RHB Investment Bank Berhad principal advisor, underwriter and placement agent for gross negligence and failure to perform their fiduciary duty?

Note: Referring below SC announcement
https://www.sc.com.my/resources/media/media-release/sc-reprimands-three-china-based-companies-and-says-retention-of-four-directors-prejudicial-to-public-interest
The SC reprimanded Xingquan, its Executive Chairman and CEO Dato’ Wu Qingquan, Executive Director Wu Lianfa, former Non-Independent Non-Executive Director Ng Sio Peng and former Senior Independent Non-Executive Director Zhou Liyi for:
-falsely recording a loss of RMB415.7 million from the sale of inventory by Xingquan’s wholly-owned subsidiary;
-furnishing to Bursa Malaysia a false agreement between the said subsidiary and a third party;
-furnishing false or misleading financial statements to Bursa Malaysia; and
recording cash and bank balances in eight bank accounts collectively belonging to Xingquan that were false or misleading.

Why no actions were taken against Xingquan External Auditor: SJ Grant Thornton, IPO: CIMB Investment Bank Berhad and RI: RHB Investment Bank Berhad principal advisor, underwriter and placement agent for:
1. Gross negligence and failure to perform their fiduciary duty; and
2. Complicite in above fraud/crime in auditing, preparing and approving Xingquan Financial Account, IPO Prospectus and RI Prospectus.

Posted by Sslee > 2023-09-11 11:04 | Report Abuse

Dear Sir,

Reference is made to your e-mail on the above matter.

We have escalated the complaint to our line department concerned for their further action. The assessment into the matter you highlighted may take time, depending on the complexity of the issues raised. However, we will undertake the necessary actions to ensure that your complaint is looked into accordingly and will take the necessary enforcement actions if there is any breach of Listing Requirements.

As we do not play the role of ombudsman nor do we conduct arbitration, in the event of conflicts or financial losses, the aggrieved parties need to file the claims through the appropriate legal process in court.

We will also make the necessary referral to other relevant authorities should we come across any potential breaches of other regulations / Acts (other than the Listing Requirements).

Thank you.