Posted by ks55 > Dec 31, 2017 08:31 PM | Report Abuse X
It will be interesting to see who are crying foul in one or two months' time. Still believe Hengyuan going to give you windfall dividend? Still believe Hengyuan going to give you dividend at all?
Ask KYY. He will not tell you whether he is sure this Red Chip is going to declare a 10 sen dividend.........
Dear all, I will write an email to the Auditor before the yearend that during the next AGM I will ask directly to the auditor and partner how they audit and verify Hengyuan quarterly gross profit (Revenue- Crude Oil cost) especially the crude oil costs were so much higher than Hengyuan neighbor PetronM. (PetronM quarterly reported do stated their Crude oil cost). 1. Did Hengyuan Crude oil cost base on international pricing? 2. Did Hengyuan board and management provide auditor with this international price for verification? 3. Any red flag Hengyuan were paying much higher price for their Crude oil? 4. Is this high price of Crude Oil due to incompetent procurement practices/contracts or involve act of fraudulent in siphoning out the money by marking up the Crude oil purchase price?
Thank you Note: I'm still hold a small position in Hengyuan and I am interest to find out the truth and nothing but the truth.
sslee, try asking the board 'gently'...they may reveal some tips... frankly, i dont think they will ever reveal such humongous ticking time bomb for the plant they bought at 1.80 and now selling at 4 plus...
and since the big plunge in crude is in last quarter, I would expect ( because of the way crude is charged to cost of manufacture...) that Dec quarter is likely to be worse......
Dear ks55, Bursa and SC are still investigate the auditor and board of CSL, Xingquan and Maxwell. But very unfortunate due to the nature of confidentiality they are unable to update me on the progress and ask me to be patient as investigation is a very long process. As for Hengyuan the plant, assets and bank account are in Malaysia the major owner is mainland Chinese and if there are any fraud it is our minority shareholder duty to held the auditor accountable and bring justices and prosecute whoever involve in fraud. Thank you
other egg producers make a lot of money on higher eggs prices and lower feed cost.....only Layhong says they lost money because of higher feed cost and lower selling prices....what can I say?
Probability did a very good job by warning us a year ago n he proved to be right about its price from rm8 to rm4+. SsLee is still blur by having respect for its board of directors for right answers. It is the same as other Chinese counters n turn our backs at it n only watch how it will end up.
For those who got out at rm8 must thank Probability for his kind warning,farsightedness n generosity yo share his knowledge to save you all from further loss.
KYY said its stupid to sell at RM16.50. Lol. So, the margin call actually save him. He should be thankful to the parties reduced his margin at that time. Lol
I try to say something meaningful. At first, it was suspected that the huge profit came from rising inventory price along with oil prices. Then, when the figures do not match, i suspect the good-looking figures were made up just to get the financing (for the upgrades and refinance).
Also, last two quarters weak numbers were thought to be stocking-up for the upgrades. But this is clearly not the case. Obviously they are just buying from some other producers and resell to station just to maintain their supply. You know, 駁貨, a very common practise.
You know, HengYuan China is now top 500 companies. Suddenly they have many new businesses, hotel, building material, jade etc, everything looks so lucrative.
I don't have a single share of HengYuan, simply because HengYuan China is the top polluter for many years.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Tongkarat
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Posted by Tongkarat > 2018-11-28 22:12 | Report Abuse
Aiyooooooooooooooo...aiyoyo