Posted by fong7 > 2015-09-28 03:29 | Report Abuse

agree fully with bearsong. If you are shareholder, you really should complaint with a report sent to Bursa and even Bank Negara. These china companies listed in Bursa are really treating Malaysians like big stupid ignorant water fish! Get some respect back by making reports! It's no point to shout at AGM. Shout at Bursa and Bank Negara.

Posted by Joe18 > 2015-09-28 09:36 | Report Abuse

Shd request for independent audit on the financials before approving the right issue. Where is the need for further cash injection if the firm has RM886mil CASH. This amt is even higher than the year revenue which is illogical@#$%

Posted by Joe18 > 2015-09-28 09:37 | Report Abuse

No wonder the share dipped after the announcement of right issue which reflected the public confidence in their management

Posted by birkincollector > 2015-09-28 09:59 | Report Abuse

diarrhea!

Posted by paperplane2 > 2015-09-28 10:02 | Report Abuse

this is funny! how they fake cash...........phew...........few million also right issue? When it has 100mil over CASH IN BANK???

Posted by paperplane2 > 2015-09-28 10:18 | Report Abuse

if cash in bank is nothing...Rm 0.10 for sure

Posted by AyamGoreng > 2015-09-28 10:19 | Report Abuse

RUN

Posted by bjgdila123 > 2015-09-28 10:20 | Report Abuse

sell sell mati mati looo

Posted by bearbear11 > 2015-09-28 14:06 | Report Abuse

So called "high cash" still want do right issue?

Posted by Joe18 > 2015-09-29 21:34 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4879769
-"The Company wishes to clarify that the cash balance of RM886.55 million is mainly reserved for working capital, and as explained in the announcement dated 25 September 2015, Xinquan requires sufficient cash buffer and a high level of working capital to ensure minimal disruption to its operations in the event of a liquidity crisis or a sharp economic downturn. The purpose of the Proposed Rights Issue with Warrants is to raise funds for Xinquan’s capital expenditure requirements whilst maintaining a healthy level of cash balances at all times" ... Is this acceptable by authority? What s shit reply!@$# The cash in hand is already sufficient to cover more than a year revenue!!!

Posted by Joe18 > 2015-09-29 21:36 | Report Abuse

If there is sharp economic downturn less cash is required for working capital as revenue will also decrease!

Posted by bearsong > 2015-09-30 10:11 | Report Abuse

1.         Given that the par value reduction is to facilitate the issuance of Rights Issue shares and there are no accumulated losses by Xingquan, please provide further justification for your Company to undertake a steep par value reduction from US$0.10 to US$0.01 each.

The purpose of the par value reduction is to provide the Company with greater flexibility to price the Rights Shares at an attractive discount to the market price at the price fixing date to be determined. The recent slump of the value of RM against the US$ has restricted the ability of the Company to price the Rights Shares and Warrants B attractively as the current par value of Xingquan is US$0.10 (equivalent to approximately RM0.43 based on the BNM’s exchange rate of US$1.00:RM4.3385 as at the LPD) and the Company is not allowed to issue shares below its par value under Bermuda Law.

Reducing the par value of Xingquan to US$ 0.01 will provide a larger buffer to cater for a situation where the RM further depreciates against the US$ and/or Xingquan’s share price falling below its present trading price.

Further, the steep par value reduction would not result in any change to its net asset position and any adjustment to the shareholder of the Company.

2.         Your Company has represented that it has cash and cash equivalents of approximately RM886.55 million or equivalent to RMB1.457 billion ("CCE") as at 30 June 2015. In this respect, please further substantiate the needs to raise RM26.94 million (Minimum Scenario) or RM50.71 million (Maximum Scenario) via the Proposed Rights Issue with Warrants which represents only 3.04% (Minimum Scenario) or 5.72% (Maximum Scenario) of the CCE respectively.

The Company wishes to clarify that the cash balance of RM886.55 million is mainly reserved for working capital, and as explained in the announcement dated 25 September 2015, Xinquan requires sufficient cash buffer and a high level of working capital to ensure minimal disruption to its operations in the event of a liquidity crisis or a sharp economic downturn. The purpose of the Proposed Rights Issue with Warrants is to raise funds for Xinquan’s capital expenditure requirements whilst maintaining a healthy level of cash balances at all times.

In addition, the available cash balance may also be used for future business expansion into related businesses, in particular, acquisition of foreign brand(s), if and when the opportunity arises.

3.         Based on the CCE of RM886.55 million as at 30 June 2015, it is noted that the interest income received, based on the annual audited accounts as at 30 June 2015, is only RMB4,618,000. In this respect, please provide further clarity as to why the return on interest income is so low.

The Group has placed its cash balances in savings accounts with licensed banks in China which carries an interest rate of approximately 0.35% per annum. The cash is placed in savings accounts as the cash is not idle and is required to fund Xinquan’s day-to-day operations.

Posted by bearsong > 2015-09-30 10:15 | Report Abuse

All non sense..... they really think Malaysians are small kid. I don't think SC can do anything.

Posted by Beza > 2015-09-30 13:05 | Report Abuse

Right. Don't buy right issues since it has a lot of cash.

Posted by calvintaneng > 2015-10-01 00:29 | Report Abuse

THIS ONE LOOKS VERY DUBIOUS RIGHT NOW.
IN DOUBT BETTER PLAY SAFE.
JUST SELL ALL AND STAY CLEAR UNTIL MORE CLARITY EMERGE.

Posted by paperplane2 > 2015-10-02 14:09 | Report Abuse

still got ppl wanna buy this stock..............maybe tht oldman.......I guess?

Posted by sron97g > 2015-10-08 14:00 | Report Abuse

see how much is the rights offer price

Posted by saltedfish > 2015-10-14 16:56 | Report Abuse

Stay away from this stock. Even maestro like Koon Yew Yin also burnt

Posted by paperplane2 > 2015-10-14 16:59 | Report Abuse

Salted fish loss millions herr

Posted by saltedfish > 2015-10-14 19:57 | Report Abuse

Make or lose none of your business

Posted by paperplane2 > 2015-10-14 20:03 | Report Abuse

i talk in here also none of your biz right?

Posted by paperplane2 > 2015-10-14 20:03 | Report Abuse

U talk like u own the forum?..

Posted by yktay1 > 2015-10-16 14:27 | Report Abuse

So nice..can get donation from Malaysian investors when low on cash..to buy ferrari...

Posted by Chinaboleh > 2015-10-17 04:18 | Report Abuse

Answer given by Xingquan on cash call. Is their account in fraud? Are you sure local stock don't have same question if they cannot give dividend even their account show huge cash balance? If our Bursa Malaysia is good and take care of minority shareholders in Malaysia I hope they don't mind conduct special audit on one(or all even better) of China counters listed companies here cash balance(perhaps having a trip to China?). After all they are the one approving China companies listed here(to earn some fees?).
A lot of minority shareholders has suffered huge losses investing in those companies by silently cutting loss. If BN lose more votes next GE due to such reason should blame Bursa Malaysia as one of the culprit.
http://m.thestar.com.my/story.aspx?hl=Xingquan+explains+rationale+for+cash+call&sec=business&id=%7BEA8A9127-173D-4597-A832-7DA06C148176%7D

Posted by saltedfish > 2015-10-18 21:44 | Report Abuse

有關紅籌股的一項最新發展也可作為參考，即星泉國際（XINQUAN，5155，主板消費品組）擁有8億8千655萬令吉現金，卻提出削資和進行附加股計劃，還要向股東伸手拿錢，這是令市場感到不解及耐人尋味的。上述一點資料供參考。（星洲日報／投資致富‧投資問診‧文：李文龍）

Posted by paperplane2 > 2015-10-19 00:01 | Report Abuse

Salted fish still trap here ah?
Last time asked ppl buy 1.50, now alredi 0.50. Still dun want sell? Like your btm? Buy 0.45, trap now 0.30 still dun want to sell ah?? Later macam ini xingquan loh!

Posted by paperplane2 > 2015-10-19 00:08 | Report Abuse

Well said, totally agree.
U see kyy kena burnt in xingquan
Coldeye also kena burn in tht hengbao doing tin manufacturing

Posted by paperplane2 > 2015-10-19 00:13 | Report Abuse

I ask why maestro like them also fail in China stock?
We can learn something from others failure.
For their case I only have one conclusion, they have emotional when they spotted a cash rich China stock , and they think cash is real. Also they are chinaman, and they feel attached with China companies listing here.

Posted by saltedfish > 2015-10-19 09:24 | Report Abuse

I bought at 1.50? Show me the comment, Lol

Posted by paperplane2 > 2015-10-19 09:56 | Report Abuse

haha, all comments earlier deleted lor........last 2 years.

Posted by paperplane2 > 2015-10-19 10:12 | Report Abuse

yalor, everyone here know mah, you keep asking ppl buy Xingquan when 1.50 level, so smart

Posted by riskabsorber > 2015-10-19 14:29 | Report Abuse

886 mil for the purpose of daily operational needs. Mean daily operational needs amount to 2.5 mil per day. This company really go insane.

Posted by saltedfish > 2015-10-19 15:04 | Report Abuse

No record talk for what?

Posted by sosfinance > 2015-10-20 10:34 | Report Abuse

Market cap is RMB265m (or RM162m). Cash is RMB1.450 billion. Shareholders' fund or NTA RMB1.900 billion. Despite its explanation to Bursa on why it need to raise a rights issue of up to RMB82m,

if you are the major shareholder, don't you want to buy back your own share? Say, today, I buy up 100%, RMB265 m, Stop all businesses, pay back all loans and debt, still have hard cash of RMB1.188 billion. Distribute it back to my self? Pay RM265m gain RM1,188 million, 4.48x capital gain.

I hope most China companies is different from Xinquan. Even if Xinquan represent 10% of listed companies of China, it will be Disaster.

Posted by riskabsorber > 2015-10-20 11:08 | Report Abuse

The factory and business may be genuinely shown to outsiders/shareholders. However, the cash keep in bank itself may not be truly represented. RM 886mil in bank and proposed to raise a right issue of RM 50mil is totally not logical. There is no need a PHD to analyse this company already know this is idiot.

Posted by speakup > 2015-10-21 11:25 | Report Abuse

con-man company

Posted by sron97g > 2015-10-21 13:46 | Report Abuse

not proper to propose rights

Posted by Jack Hooi > 2015-10-26 20:24 | Report Abuse

Guys, take a look to CAP?

Posted by SuperMan 99 > 2015-11-07 00:56 | Report Abuse

There are hundreds of companies up to be chosen, try to avoid this kind of China stories companies, too many runaway cases elsewhere.

Posted by SuperMan 99 > 2015-11-07 01:07 | Report Abuse

Interest income is 0.3% only. (Interest income over Cash = 3.6M / 1156M)

I am not sure if the directors are so stupid to keep cash unproductive & get loans with interest rate of 6%!!!!

Will the Auditors be sentenced to jail if SC found out that the cash shown in the audited accounts were in fact did not exist?

Posted by slbzr > 2015-11-09 11:17 | Report Abuse

the cash in hand/bank figures is very doubtful in line with the proposed rights.

Posted by joeylee2013 > 2015-11-29 23:08 | Report Abuse

（吉隆坡28日讯）截至9月杪，星泉鞋材（XINQUAN，5155，主板消费产品股）首季净利按年大跌81.93%，从3943万5000令吉，减少至712万7000令吉，每股净利7仙。
同期营业额按年挫33.3%，至1亿3477万4000令吉，逊于去年首季2亿205万4000令吉。
鞋类业务的业绩最为黯淡，首季营业额贡献按年下滑52.82%，至4760万元人民币（约3145万令吉）。
而服饰与鞋底业务同季营业额，也分别按年萎缩25.94%及16.37%，报1亿1590万元人民币（约7658万令吉）和4700万元人民币（约3105万令吉）。

Posted by joeylee2013 > 2015-11-29 23:09 | Report Abuse

Dead meat

Posted by DreamMaharaja > 2015-11-29 23:10 | Report Abuse

so so

Posted by AhSook AhKou > 2015-12-03 09:48 | Report Abuse

Hidden agenda by major shareholders n gang plan is to buy back more shares ......... watch space comes after AGM , price expect to hit North fast !!! Trade at yr own risk lohhhhh

Posted by qkokseong > 2015-12-03 13:32 | Report Abuse

@AhSook your insider info is really accurate, now it's heading North like rocket~

Posted by King Musang > 2015-12-09 19:47 | Report Abuse

Uptrend intact... Strong support CNY angoow coming soon...

Posted by murali > 2015-12-09 20:01 | Report Abuse

This is a koon koon stock,not koon bee stock...be careful...

Posted by mfmqqq > 2015-12-10 09:03 | Report Abuse

trading buy xinquan tp rm1.17. recommended trading buy.

Posted by lextcs > 2015-12-10 09:09 | Report Abuse

uncle going to write abt his xin story soon...buy buy buy...goons plz chase this one higher...