Posted by rlch > 2013-05-11 11:03 | Report Abuse

Is this good news?

Posted by kcchongnz > 2013-05-11 11:15 | Report Abuse

When the external auditor you pay to sign your account says that he suspects you of cheating, fraud and refuse to sign, is this good news?

Posted by rlch > 2013-05-11 12:53 | Report Abuse

Can they refuse the special audit if HB Global doesn't want?

Posted by kcchongnz > 2013-05-11 17:33 | Report Abuse

iayah, you still don't understand what i was trying to imply. Read this:

[On the corporate news fronts, HB Global has been classified as a PN 17 company, dealing another blow to all China-based companies which haven’t had the best of times of being listed on our bourse given the sub-par share price performances. The company released its audited financial accounts for 31 December 2012 with a 45.3% deviation from its unaudited version, but also with its auditor’s qualification of not being able to substantiate the bank balance of a subsidiary company and not being able to receive reliable independent confirmation on about 56% of its trade receivables and 48% of its trade payables. And on to more cheerful news, for shareholders who are still holding on to the shares that is, Hong Leong Capital surged to a 12-year high of RM5 per share, pricing the company at close to 3x its book value. Irrational exuberance or something brewing?]

Source: PublicInvest Research - 8 May 2013