Today annual report shd out. See if the auditor signed for it. If so, can consider to sue the auditor because it is simply impossible. Just like MOL got sued now
Mr. Koon has sold all his Xingquan shares quietly while telling everyone who bought it upon his advise that he is still keeping them. He is quite insincere to say the very least. KYY could be the one responsible pushing the price down to RM0.40. Do not listen to his stock promotion anymore. He encourage people to buy and sell them quietly. He should be ashamed of his actions.
Kyy must get advice fr his cousin auditor b4 selling. Can't sue kyy for misleading advice because he always put disclaimer but can go after his cousin who endorse the cash holdings of Xinquan
As a matter of fact, KYY has 25,700,800 Xinquan shares in 2013 through himself, Koon Cze Yan and Yap Sung Pang. But he only has 25,252,300 shares in 2014 and he disposed off 448,500 in 2014
What is worrying is the fact the Bank of New York Mellon trimmed its holdings in Xinquan drastically from 22,398,031 shares to 17,319,400 shares, a disposal of 5,078,631 shares or 1.62% from 2013. And the trend is continuing because they are still selling through HSBC
To make the matter worse, another fund manager, Kas Bank Effectenbewaarbedri from The Netherland cut its holdings in Xinquan from 4,472,943 shares to only 1,285,843 shares, a 71% disposal of what they used to have.
The private placee, Xie Zhidong, cut his private placement block from 30,733,000 Xinquan shares to only 21,382,700 shares, a net disposal of 30.42% of what he used to have!
Surprisingly, he sold at prices ranging from 65 sen to 50sen since 7/8/2014 in the open market even though the private placement issue price he paid was RM1
cariyoyo Dec 4, 2014 09:59 AM | Report Abuse New York Bank of Mellon increased its stakes by 4% in 2013 from 9,983,003 shares or 3.25% in 2011 to 22,398,031 or 7.29%. Save for KYY and group, Bank of New York Mellon and Rickoh showed continued confidence in Xingquan from 2011 to 2013. Would they be holding the same amount, increased or decreased in 2014? Please note the holdings for Bank of New York Mellon on the up coming report as it would tell a lot.
Let us calm down a little here as some of you guys are setting off on wrong footing. First of all, Koon Yew Yin and group added 461,257 shares from 28,501,043 shares reported in year 2013 to 28,962,300 this year. KYY himself has increased his stakes from 10,146,200 shares recorded in 2013 to 14,835,700 shares this year, an increased of 4,689,500 shares. Yap Sung Pand decreased his stakes by 1,176,343 shares from 7,592,943 shares recorded in 2013 to 6,416,600 shares this year. Kon Cze Yan, KYY's daughter maintained her stake of 4,000,000 shares. KYY's wife, Kit Pheng sold 1,440,000 from 4,000,000 to 2,560,000 shares and her sister, Tan Kit Yew shed 350,000 shares from 1,500,000 shares recorded last year to 1,150,000 shares this year. In a nutshell, KYY's group continued to hold steady on Xingquan by adding additional 461,257 shares.
Second of all, Koh Kin Lip's group held 10,249,300 shares compared to 9,957,300 shares a year ago, an increase of 292,000 shares. The increase was possibly through his wife Madam Lai, who is also a director in IOI Corp.
Third of all, we noticed several newcomers who might be associated to KYY (require verifications). I have somehow reasons to believe that KYY might have conducted some cross holdings of his Xingquan shares through children, relatives and friends.
The bad news was that Bank of New York Mellon trimmed its holdings from 22,398,031 shares in 2013 to 17,319,400 shares in 2014 or a decrease of 5,078,631 shares. This is indeed a dampener.
I hope they do not continue flushing out their shares as this would place Xingquan down to RM0.20. My view is that Xingquan must doll out dividend, if not is going to be like XDL.
And lastly, Mukah, you were wrong. You might have based your comment after reading the warrant shareholders???
Cariyoyo, no point talking and repeating how KYY amassed his 'biggest mistake in stock investment' in the form of Xinquan in 2013. The fact is he reduced, albeit a small one
Whether the newcomers are indeed KYY or Ricky Koh's nominees acquiring those shares is anything but just a wild guess. Anyway, since both have lost so so much in Xinquan shares, it is hardly any surprise they averaged down their holdings but I am sceptical these new names are indeed KYY or Ricky Koh nominees
The only consolation I see on the latest shareholders list is the addition of Xinquan shares by Ooi Guan Hoe's sister (?) Ooi Siew Looi from 2,530,300 to 2,946,900 shares and his brother Ooi Cheng Huat from 916,000 to 1,056,000
Dato Wu still want authority to issue new share in new AGM. But at what price can he issue? Xinquan net asset per share is RM2.6 (By now is ~RM 2.8 due to plunging ringgit). Earlier he issue to Xie at RM1, but Xinquan price is only 41cts now. Issue at 40 cts when asset per share is RM2.80, cash on hand at RM1.80 ???
If Tan Kit Pheng is indeed KYY's wife and Tan Kit Yew is her sister, then I have the following number to support my point that Koon Yew Yin sold a total of 2,238,500 in 2014, instead of my earlier calculation that he only sold 448,500 Xinquan shares
That is a bad sign for Xinquan, because all the TOP 5 shareholders i.e. :
1) Koon Yew Yin & associates SOLD 2,238,500 shares 2) Bank of New York Mellon SOLD 5,078,631 shares 3) Kas Bank Effectenbewaarbedri SOLD 4,472,943 shares
These 3 top shareholders dumped a total of 11,790,074 Xinquan shares or 3.84% of the total issued shares of Xinquan in 2014, just a shed to make someone a Substantial Sharedolder (5%) in Xinquan !
That is because in 2013, Xinquan has a total of 1,898 shareholders while in 2014, there was a spike of 10.9% in the number of new shareholders to 2,104 in the year 2014. That mean these shares were distributed in the downward process that dragged Xinquan shares price from above $1.00 to 40 sen now
And that is not a good news to Xinquan shareholders because these 11.79m shares simply were bought and hold by insignificant retail investors instead of some prominent names or institutional investors
Read most of the comments and noted the analysis of TanSri and cariyoyo. Very detailed analysis. Koon Yew Yin is a heavy investor judging from his stakes in several listed companies which easily make him worth RM500,000,000. Xingquan was his wrong call. But at such low price, I certainly believe Koon and his friends can quite easily prop up this counter. But I think the lack of business clarity and dividend on the part of Xingquan must have shy them away. Cariyoyo mentioned that Xingquan must start looking into dividends and I fully agree with him or her because it is paramount for Malaysian investors.
A lot of investors think Chinese counters listed in Malaysia are cheats but I sincerely believe not all of them. Could Xingquan be the odd one out?
Chok Chew Lan is a developer and quite involved with Magna Prima previously. Speculators are buying into Xingquan as I can see from the list of shareholders. Is very very cheap and doesn't take much to prop up the price. What you need is confidence to be restored.
Just imagine if Koon decides to strike a deal with Xingquan to recoup his investment? He can develop this deal with Rickoh, Chok and those several high networth individuals. Only catch is what Xingquan can offer them in return? Is all about business. No one want to get into a business to lose money. Imagine what would you do if you are Koon and Koh Kin Lip? We are not talking about small timers here. They are big guns.
I will continue to buy Xingquan at this price. If they went in at RM0.80, I already got one for one bonus.
Tan kit pheng is indeed kyy wife, as kyy said so before. Lets just analyse kyy holdings- he hold a total of 14,042K shares in 2013 and now in 2014 a total of 14,834K shares in 2014 but interestingly thru a much diff combination of nominee ac. This shows clearly one thing, he has sold and then buy back (of course at lower price). Most importantly is he buy back. His other associates may not buy back. And Xie did not dump after selling continually from 73-53 cts. Meaning at below 50cts, no big investors selling (small panic investors selling), the big ones are buying back.
Good analysis by Tan Sri. Based on the shareholders list on 10/11/2014, Koon YY & associates have sold more than 2.5m shares from the previous shareholders list ending 11/2013. And I suspect he and associates continue to sell Xinquan shares because only after 10/11/2014 we see the shares price plummeted to as low as 36.5 sen
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Posted by ct888 > 2014-12-05 09:33 | Report Abuse
Today annual report shd out. See if the auditor signed for it.
If so, can consider to sue the auditor because it is simply impossible.
Just like MOL got sued now