Posted by Ezra > 2015-06-02 16:09 | Report Abuse

Everyone loves a bargain. But that doesn't mean the price manipulation can go on forever. There's a limit to what a syndicate (assuming they're acting in concert) can do. Let's hope most investors wise up and not simply jump on the bandwagon selling their shares for 'peanuts'!

Posted by Ezra > 2015-06-02 16:22 | Report Abuse

Bunnypro have a little faith in your research. Even MIDF had issued a 17 sen per share call on Xinghe back in Feb this year (2 months before BDO completed its audit on FYE 31 Dec 2014 results). I just wish i3investor would publish the recommendation under latest headline above for all to see instead of burying them under 'view price target detail' which most are likely to miss.

Posted by TTNTK > 2015-06-02 16:25 | Report Abuse

That was before the warrants were issued, right?

Posted by Ezra > 2015-06-02 16:29 | Report Abuse

Yeah that's right.

Posted by Ezra > 2015-06-02 16:38 | Report Abuse

If you get the chance, do speak to the analyst at MIDF whose name and number is stated in the report. And if you're going to the AGM, I'd encourage you to speak to a Stephen Ng, the Malaysian director and one-time KPMG auditor - if there's anyone who can shed a better light on Xinghe, then it's him. He's the guy if you recall who signed the JV deal with Asfar back in April as reported in The Star and The Sun publications.

Posted by skyjuice2 > 2015-06-02 20:29 | Report Abuse

Just for sharing of information based on real world facts about chinamen companies.

Posted by skyjuice2 > 2015-06-02 20:31 | Report Abuse

Unknown Transactions!!
BEWARE OF CHINESE STOCK SCAMS -THEY ARE REAL
Understand Chinese Stock Frauds
(Use Others Bad Experiences to Protect yourself and family from the Chinese Stock Scam and Financial Terror!!)

Updated December 13, 2014
Anyone investing in Chinese companies listed in North America & Europe is taking a big risk. Recent events have shown that the management of many of these Chinese companies are fraudsters with primary intention of duping the investors.
The Chinese CEOs and Insiders usually execute their scams by:
Under-reporting bank loan balances,
Creating non-existent or fictitious shell companies as customers with no verifiable revenue,
Creating fictitious shell companies as Suppliers with no verifiable revenue,
Under-reporting insider transactions and money transfers,
Indulges in insider trading that is never disclosed,
Indulges in pump and dump schemes,
Stealing company's assets by transferring it to insiders leaving the shareholders with empty shell company owning no asset,
Forging employee numbers,
Making fictitious buyout offers,
Uses the companies cash to secure the debt of companies privately owned by insiders,
Posting fake cash and fake revenue in their financial statements, and
Collaborating with local bank officials in China to inflate profit margins.
Collaborating with some dubious USA based brokers and Underwriters who driven by huge commissions fees and payouts finance the listing of these Chinese Scams without doing any serious due diligence or simply turned a blind eye to all the red flags.
Collaborating with some dubious USA based and Certified Public Accountants who as the Public Auditors of these Chinese Companies intentionally aid them gain access to the USA listing. Auditors must examine, on a test basis, whether a company they audit (the "Audited Company") genuinely sold goods, purchased supplies, received cash, paid out cash, or had cash on hand. (Generally Accepted Auditing Standard ("GAAS") No. 3.). Sometimes, the USA Based Auditors does not act independently of these Chinese companies and actually do not rigorously verify all these things and in most cases forge audit documentations for these Chinese firms by creating the financial statements for them. The USA Public Company Accountants Oversea Board has a list of these dubious auditors here:

http://pcaobus.org/Enforcement/Decisions/Pages/default.aspx
These Chinese criminals have resulted in more than $100 Billion in damages to investors in North America. The list of many of these Chinese frauds are endless. These fraudsters at the end of their fraud usually disappear in thin air by going dark, their stock is delisted and no one ever finds them again.

The USA SEC has been unable to deter these criminals so at the end of the day, it is the innocent victims that pays the price. In fact, these criminals understands how lousy, soft-to-criminals, ineffective and outdated the USA Securities Laws are in deterring them that they capitalize on it to defraud investors over and over again. The USA SEC Laws were written in 19933 and 1934. Both laws are outdated and old and must be revised to reflect the challenges of the Internet Age.

Till date, the worst that can happen to them is to settle with the SEC and Class Action Lawyer for pennies to a dollar leaving damaged investors victimized for life. With the SEC's "Neither Admit Nor Deny" policy, these criminals basically walk away from the crime with their loots intact leaving the victims in limbo. When you actually read and understands the USA SEC Laws, you would be amazed that the law actually protects these violators by placing a cap on the amount of claims one can file against securities law violators. No matter the pain caused by these criminal psychopaths, the USA SEC Law caps the amount payable by these violators. There is no real deterrence in this law. Just settle and walk away and you would not be prosecuted. To add to the insult on victims, when the Case enters the USA Legal system, it takes years to move the Case forward to Jury. The whole system from Securities Law to Legal System seems to play on the side of these Criminals while the victims suffer in pains. The Criminals understands all these loopholes and capitalizes on it to defraud more and more people in the USA Stock Market.

In a compelling interview published by ABC News on January 10, 2013, the outgoing SEC Chairman Mary Schapiro discussed the Chinese Fraud menace on the USA stock exchange and the challenges the SEC has been facing on prosecuting the criminals. The SEC Chairman was blunt to say that China refuses to help the SEC stop these investment scams. For the interview, click:

http://abcnews.go.com/Blotter/us-investors-lose-billions-alleged-chinese-stock-schemes/story?id=18164787

The Chinese FRAUD is the PLAGUE that has been Unleashed on Investors all across the globe and the best way to avoid it is by exposing it as much as possible.

Posted by skyjuice2 > 2015-06-02 20:33 | Report Abuse

For further information can read here http://www.chinaaccountingblog.com/weblog/list-of-chinese-frauds.html and here http://www.chinastockfraud.blogspot.ca/2013/11/china-stock-fraud.html?m=1

Posted by skyjuice2 > 2015-06-02 20:44 | Report Abuse

Here's another one very useful for guidance. http://www.forbes.com/sites/russellflannery/2013/10/31/six-warnings-about-fraud-for-investors-in-chinas-stock-markets/

Posted by Why_ > 2015-06-02 20:52 | Report Abuse

Why skyjuice2 you still here? You should go to CAP thread if you are not interested in Xinghe.

Posted by Why_ > 2015-06-02 20:54 | Report Abuse

Xinghe friends those who don't like skyjuice2 please voice out. Xinghe is going to give dividend so it cannot be that bad.

Posted by peiyen2006 > 2015-06-02 21:29 | Report Abuse

You cant have so much sales without real factories and with so many years of profit. Someone here try to scare you all to collect cheap now. A sign of imminent big run up in near future

Posted by peiyen2006 > 2015-06-02 21:35 | Report Abuse

And xinghe is food producing company, not empty shell dot com.

Posted by peiyen2006 > 2015-06-02 21:49 | Report Abuse

It is at the rock bottom price now. Will shoot up when all punters cleaned up from system after a few rounds.

Posted by gick891214 > 2015-06-02 21:58 | Report Abuse

need to take some times... the volume is so high and the stock is manipulated by big sharks....

Posted by skyjuice2 > 2015-06-02 22:23 | Report Abuse

Thanks bunnypro for your understanding. I don't mean to scare anyone whom had invested in china doll companies. At least for our future references, we will be more alert in this type of scam. By the way, did anyone notice that one of their director namely stephen as mentioned by ezra was previously attached with kpmg is only an ASSOCIATE auditor during his tenancy? Does anyone also notice that he's also cretaed an MLM company?

Posted by skyjuice2 > 2015-06-02 22:24 | Report Abuse

Anyway, for those still invested, wish you all lots of luck

Posted by gick891214 > 2015-06-03 07:09 | Report Abuse

haha... cheers

Posted by lclwyp > 2015-06-03 09:09 | Report Abuse

Xinquan shareholders now laugh all the way. Xinghe shareholders have to wait for their turn. Hope won't be long

Posted by greedy44 > 2015-06-03 10:29 | Report Abuse

this stock is on hibernate mode....leave him alone and look for more interesting topic like SEA game...haha

Posted by gick891214 > 2015-06-03 10:39 | Report Abuse

haha... relax 1st

Posted by Ezra > 2015-06-03 11:10 | Report Abuse

By the way, TTNTK you have raised an interesting question between 1512hrs and 1525hrs yesterday. My bad – my mind was a bit tizzy watching the bursa screen and at any rate I knew my response then (at 1516hrs and 1530hrs) were clearly off the mark. And skyjuice2 made it a point to highlight the same to me.

Let me address them now. I’m sure all of you recall the curious event that took place on Monday morning the sell volume registered under 7.5 sen per share was fast depleting indicating demand was surging. Instead of appreciating to 8 sen per share which would ordinarily be the case in a normal rally, a group of sellers decided to make an about turn when market was clearly headed north and settle for a lower price of 7 sen per share while transactions for 7.5 sen per share was nearing the finish line.

It was a split second move as if the market decided to deliberately slow down all at once. The lower price queue volume commenced after a large block of transactions were executed within a fraction of second – the volumes were broken up into chains of varying lengths (perhaps the operators wanted to disguise the fact they’re acting in concert to manipulate the price).
To key all transaction within a fraction of second is humanly impossible unless they had the aid of a fancy algorithm to run an automated trade.

I have noticed this price backpedalling patterns emerge in other counters too. Not just Xinghe.
But this kind of price manipulation only works when operators have the upperhand against retail investors who are less informed or have yet to fully digest the facts reported.

The aim is to accumulate shares on the cheap. When the price doesn’t go any lower they will keep replenishing initially so as to get others to sell too.

When the market has stopped selling low, it’ll be easier for the remaining stockholders including those who have engineered a price pullback since Monday to push for a rally.

But for a rally to climb higher and sustain, existing investors must either remain invested or demand a better price reflecting current PE level.

The Chinese fear factor is overblown. None of the Chinese companies listed on klse were delisted. The only thing that came closest to spooking the market is CSL. That’s because they did not fully insure the plant. It’s poor risk management.

That’s one thing investors should be asking at AGM at Xinghe – in fact for all companies listed on klse – are the key business assets fully insured?

But otherwise, we should stick with known and published facts. Xinghe is covered by MIDF report and its proposed joint venture with Asfar and their being the 6th biggest edible oil manufacturer are reported in The Star and The Sun publications. Whilst Stephen Ng is reportedly a director and investor at Key West Global Telecommunications Bhd since 2011 long before Xinghe assumed its listed status back in April 2014.

For the benefit of those not acquainted with what took place in early 2014, Key West shareholders voted to pass the reverse takeover of the company by Testa Holdings Ltd, China which saw the latter injecting its edible oil business into the listed concern i.e. Henan XingHe Oil and Fat Co. Ltd that according to The Star ranks among the top six edible oils companies in China. The said RTO would allow Key West to assume all 91.15% stake held in Henan Xinghe through a HK subsidiary. The remaining 8.85% stake in Henan XingHe is owned by the Chinese Government-linked Henan Finance Bureau through its unit, Henan Agric Synthesis Exploitation Co. Following the RTO exercise, Key West is currently known as Xinghe. You may read on the rest of the report dated 26 March 2014 here http://www.thestar.com.my/Business/Business-News/2014/03/26/China-Testa-to-inject-edible-oil-business-into-Key-West/?style=biz

Unless investors demand and stick to a fair stock price of between 24 sen per share and 95 sen share (which translates into a corresponding price for warrants between 14 sen per warrant and 85 sen per warrant), market operators will continue to bottom fish.

Posted by lclwyp > 2015-06-03 11:37 | Report Abuse

Will bring up insurance issue to the board if I am free to attend the AGM on 23/6

Posted by TTNTK > 2015-06-03 11:47 | Report Abuse

Unfortunately, I still don't understand. How much lower could the sellers expect to buy at ... 2 cents? They could easily have increased the selling price by more than that.

Thanks for the detailed explanation. Is there a reason why you put so much effort into providing information here?

Posted by Ezra > 2015-06-03 12:51 | Report Abuse

There's always a flipside view of the coin. It's important we heard all sides before we make an informed decision. No one can predict how the market will turn. One thing is for certain fundamentals are not reflected in the current price. My hope just like everybody else here is that the marketplace will become more rational allowing us to buy and sell at a fair price. If only Bursa had adopted US standard in pushing for a greater market disclosure and fair coverage of companies, we would be dealing with a more rational market today. Till then, it's upto us all in the forum to inform each other on all pertinent facts and arguments and hopefully we will be more rational in investing in Xinghe and any stock for that matter.

Posted by Ezra > 2015-06-03 13:32 | Report Abuse

TTNTK, you might find some early clues in this report explaining why the fireworks have not begun. According to The Edge last 26 May 2015, investors were positioning themselves at the bottom so as to capitalize on price gains which they expect in coming weeks. Remember this news was published 3 days before the Q1 results were released. More at http://www.theedgemarkets.com/my/article/xinghe-1667-investors-go-bottom-fishing

Posted by TTNTK > 2015-06-03 14:32 | Report Abuse

Read the article. Even there, it mentions that those investors may hope that the price will go to 13 cents.

Posted by TTNTK > 2015-06-03 14:39 | Report Abuse

So who's selling?

Posted by lclwyp > 2015-06-03 15:37 | Report Abuse

Can anyone know why some 'people' can queue even before the market pre-open at 8.30am? These people can have the advantages to be 1st on queue to either sell or buy. We, retailers, will not have chance to get our orders done until all these people orders were matched.

How can Bursa allow for this? Thought it should be on 1st come 1st serve basis!

Posted by Ezra > 2015-06-03 15:53 | Report Abuse

The ones who can't wait will sell early. Those who can will wait. Just like De Niro said in Ronin 'all good things happen to those who wait'. Hopefully, we don't have to wait long...:)

Posted by Ezra > 2015-06-03 15:58 | Report Abuse

It's unfair to the market that some select few are allowed to jump queue even before 8am. I'm told some remisiers have that capacity. It's time someone knocked some sense into Bursa. They're supposed to level the playing field for all not play favourites.

Posted by Ezra > 2015-06-03 16:05 | Report Abuse

lclwyp, try asking your bank what's their take on the matter. My bank had trouble explaining to me as if I had chanced upon something not meant for public consumption. I hope Securities Commission takes a strong stand and reprimands Bursa for what's clearly double standard in the marketplace.

Posted by Ezra > 2015-06-03 16:15 | Report Abuse

Bunnypro, lclwyp is right. Initially, I though they were 'ghost' numbers - you know the fuzzy numbers that appear between 4.40pm and 4.50pm every day. The queue before 8.30 am is for real. It appears some are more equal than the rest. I'm sure your bank will have a funny reply when you ask them why.

Posted by lclwyp > 2015-06-03 16:26 | Report Abuse

bunnypro, all systems under n2n (mine under SJ) can view the orders i think after 7am. OSK system will not show until 8.30am, not sure about RHB (didnt login using new RHB)

Posted by lclwyp > 2015-06-03 16:29 | Report Abuse

Before x for bonus warrants, I have q 2 times to sell at 0.135 and saw 20m+ shares done at 0.135 but mine still queuing. Thought wanna scold SJ but later observe and found out that some people really can queue before mkt pre-open at 8.30am.

Posted by lclwyp > 2015-06-03 16:34 | Report Abuse

On Monday, the sell q (before 8.30am) at 0.075 was 31.8m+ and 31.2m+ was transacted at 0.075 after results announcement on last Friday.

Yesterday, sell q 0.07 (1.8m) & 0.075 (11.6m)

Today, sell q 0.07 (8.2m) & 0.075 (9.7m)

How to beat them to sell??? The only way is to sell at 1 bid down.

Posted by lclwyp > 2015-06-03 16:44 | Report Abuse

Max 500 lots per order

Posted by Ezra > 2015-06-03 17:21 | Report Abuse

That, lclwyp is a damning evidence that some operators are allowed by Bursa to unfairly corner the market and profit at our expense. It'd be nice if you had taken snapshots of the same, who knows the same can be used to nail the culprits who not only rigged the system to favour a select few but torpedoed everybody's chances to ride what could've been a full rally last Monday.

Posted by Ezra > 2015-06-03 17:59 | Report Abuse

:) bunnypro. Any language is fine with me so long we aren’t afraid of speaking up. You're doing great yourself at communicating what's on your mind. That matters more than any language proficiency. But if you have kids try to send them for drama and speech class. They will learn the language quickly while expressing themselves with greater confidence, an area which I’m afraid our schooling system has been failing us for quite some while.

Posted by lclwyp > 2015-06-03 18:32 | Report Abuse

I took screenshot but no time stated. Please login your system tmr morning before 8.30am to witness yourself

Posted by greedy44 > 2015-06-03 19:48 | Report Abuse

WOW...what a forum here !! Can learn how to play shares and at the same time can learn how to improve our english writing and conversation and even for our kids....congrat Ezra, lclwyp, bunnypro, keep up the good work and please continue your excellent contribution here, especially Ezra with very detailed explanation.

Posted by greedy44 > 2015-06-03 19:54 | Report Abuse

To be successful in stock market, stock pick is very important and PATIENCE play a very crucial factor in determining the success or failure in our investment. The market now is not suitable for contra players. Buy and keep until end of the year is the better option now.

Posted by gick891214 > 2015-06-03 20:29 | Report Abuse

we have interested inside this stock. just waiting for the timing only... be patient everyone... cheers

Posted by Ezra > 2015-06-04 02:28 | Report Abuse

@lclwyp...Of course, I noticed that occur Tuesday morning after you drew attention a day earlier about some being given exclusive morning passes to queue their orders at Bursa even before the clock struck 8.30am. But your Monday snapshot will be useful as state's evidence against those rigging the system in order to cash in their profit (in the face of an imminent rally) before everyone else. It was a classic case of where everyone else was made to wait at the gates, whilst the favoured few were allowed a back entrance to sit at the tables and place a pre-order that had cleaned out all the best stuff in the kitchen. It's amazing no one has complained to the Securities Commission yet.

Posted by Ezra > 2015-06-04 02:52 | Report Abuse

Cheers…greedy44, gick891214 and AT…patience is key and all the more important now than ever...let’s keep watch as events unfold in days to come.

Posted by Oil_n_Gas > 2015-06-04 04:38 | Report Abuse

Support AT, buy Xinghe as well today.

Posted by lclwyp > 2015-06-04 08:10 | Report Abuse

Now q buying at 0.065 = 18.9m. Sell q at 0.07 = 7.69m & 0.075 = 10.01m. (before pre market open)

These people are taking advantage to buy at 0.065 (T+3 due today)!

Posted by Andyghk > 2015-06-04 08:23 | Report Abuse

Big investors already joint in just wait for the market recovery only be new show.

Posted by gick891214 > 2015-06-04 08:27 | Report Abuse

Morning and have a nice day.

Posted by tkp1 > 2015-06-04 08:33 | Report Abuse

guys, just sharing on the pre 8:30am orders you saw in the system, this might be the GTD order.

GTD Order or Good Till Date Order is a conditional request made to the broker (or the system) to keep the order in system till a predetermined date, unless it is executed or cancelled.

Normally the order gets canceled at the end of the day, if it is not executed. With this attribute attached to the order, the order remains in the system, until a date if not canceled or executed.