Dear Ks55 thanks. I only have 2 pages in Chinese, some storytelling and with 9 mostly general questions. These are question to vent my frustration, anger and at the same time as assessment on their morality, principle and conduct. I hope to be the first to ask these questions and see how they respond. The rest I will let the other participants to ask the detail question. After that I will make my decision whether there is still hope or sell off and cut the loss.
No...our Malaysia SC will never interfere or be there in AGM... are you a newbie??? You should write a letter or call directly to SC instead waste your time waiting for answer.....
Sslee, tak semudah itu cadangan kamu.....Melainkan kamu salah seorang pemegang saham terbesar macam Koon yew yin.... kalau tak.....cakap macam tong yang kosong dengan pihak pengurusan dari china.... kamu tahu mereka tak kisah sangat kamu untung atau rugi.....janji business mereka jalan macam biasa... tak apa, bentang laporan kamu depan muka mereka masa AGM...mungkin mereka boleh respons sama kamu....manalah tahu nasib kamu bagus...mungkin hari itu banyak orang sokong kamu masa AGM...
Yes this will be my first time to attend an AGM. I just want to know from our SC are they accept those simple replied by xinquan management on the huge loss related to the tailored make shoes. Are'nt SC support to protect the integrity and can take legal action against the BOD for fraud. I intend to propose a detail special audit on this tailored make shoes.
By the way can I drop in SC office and seek their advice what are the legal option we as minority shareholder can take againt the BOD. I am also interest to know the MSport Update is the newly elected BOD able to track down the China owner and take control of the fixed asset and cash in bank and is SC taking any responsibility and give full support and help to safeguard the minority share holder interest.
i remember last agm mr. kyy whack them kaw kaw about the real cash in bank & walks away.
i believe the management have pre-planned this long time ago, wanting to get rid of the 'real cash' with some fake stories... i really don't expect the story is such a lame one they have make up. just one simple unbelievable 'fake story' to destroy the entire cash in bank.
I remember kyy did his last effort to promote xinquan in i3 on the eve of the agm....then on the following day he made noise in the agm n walked out from it....
Sslee, you are really blur....it is not our malaysia SC responsibility, should you lose your money/capital in share market... or take responsibility for you as a minority shareholder interest... you should lodge a complaint to SC should you notice irregularities in financial report or criminal activities.... then you know what action to be taken....instead of waste your time to to get back your capital...Good luck, bro.
I already move on. I already prepare for the worst with totol loss. What my intention is to confront the China crook and by anymean must make them know crime do not paid sonner or later there will be consequent. And with so many sifu in i3 I am confident I will be able to pick good share and make up the losses very doon. Thanks
kalau dah terlanjur beli....mesti cepat-cepat "cut loss' kalau melebihi 10%~20%..kalau stok ini ada bagi dividen 7%~ke atas tak apa... tapi ini pulak tidak...kedekut punya syarikat... malah pemegang saham minta dividen macam nak merayu pula.... memang tak reti bahasa betul syarikat dari negara gergasi ini...
The numbers and the valuations method already misleading in financial report...what else to say.. with estimated PE of 1.5 times only, then make heavy losses... where got logic? let see the outcome of AGM on 7 Dec, 2016...Maybe someone will throw the chair or shoes when the mood swings on that day? i don't know...let see and come to AGM to know the result....maybe got door gifts or bad news on that day???.....
Still hold on the key. Already make police report and with so many cameras around airport the thief will be caught. Already received notices to go to Sime Darby convention centre to identify the thief on 7th Dec 2016. Meanwhile just relax and start accumulating CSCTEEL, MASTEEL, JTIASA and BPlant. Thanks for asking and wish me luck.
That's right, Mr.Sslee. hold your key, tightly.....it might help you to unlock your suitcase very soon...see you there on 7th DEC, 2016....don't forget to take photo of the culprits on that day and share with us...we are waiting a good news from you as well....good luck, bro....
Thank you. BPlant Q3 result just out very good with 5cents dividend. Eagerly waiting for Cscstel, Masteel and Jtiasa Qtr result hope to be good. Thanks all the Sifu in i3.
bersiap sedia untuk AGM bulan depan....mungkin dia orang ada bagi angpau atau kasut percuma.. kalau tak baling selipar atau kasut kat pihak pengurusan...biar mereka tahu !!!...kyy mungkin hantam mereka macam tahun lepas...sebab yang paling sakit hati adalah kyy yang banyak melabur kat saham china ini...apa tidaknya, "financial report" semuanya tak betul.....
Dear all, I am eagerly looking forward to attend my first AGM and pose the question face to face to the BOD and Auditor. I decide to share with I3: (one week early than my original plan) 1. My prepared question. 2. Bursa replied to my complaint. 3. My intended petition letter to His Excellency Ambassador of China Dr. Huang. Thank all for the advice, support and encouragement.
I had made an email complaint to Bursa highlight as follow: Can I, Bursa or SC make a police report of suspect fraud so that a thorough investigation can be carried out as I do not wish to see Xinquan will follow the same fate as Msports (another trouble red chip company) where the China directors just disappear. We need to work together to protect the Integrity of Bursa/SC and to take action before it is too late. Bursa replied as follow: Aduan Bursa <aduan@bursamalaysia.com> To Soon Sheng Lee Nov 11 at 10:40 AM Dear Sir, Reference is made to your email on the above matter. We have escalated the email to our line department concerned for their further action. The assessment into the matter you highlighted may take time, depending on the complexity of the issues raised. However, we will undertake the necessary actions to ensure that your e-mail is looked into accordingly and will take the necessary enforcement actions if there is any breach of Listing Requirements. As we do not play the role of ombudsman nor do we conduct arbitration, in the event of conflicts or financial losses, the aggrieved parties need to file the claims through the appropriate legal process in court. We will also make the necessary referral to other relevant authorities should we come across any potential breaches of other regulations / Acts (other than the Listing Requirements). In the meantime, should you have any queries, please do not hesitate to contact us at +603-2732 0067. Thank you. Customer Care and Complaint Bureau Bursa Malaysia Berhad Our Ref: CC/215/16
I had written a petition letter address to His Excellency Ambassador of China Dr. Huang. Urging the China government to take action against those Red Chip Companies for fraud. I intend to collect another 2 signatures during the AGM and then hand in this petition letter to His Excellency Ambassador of China Dr. Huang. Can anyone advice me what is the proper way/channel/protocol for handing in such petition letter? Thanks. My petition letter as follow: 请愿书 7-12-2016 致:驻马来西亚,尊敬的中国大使,黄惠康博士: 诚心祝贺马来西亚首相纳吉与中国国家主席习近平,两国领导人把马中双边关系推向更高峰,取得更高的宽度,高度和互信度,更宽阔的合作领域,进一步促进双边经济。 大马人民期待“一带一路”经贸走廊,基础建设,能带来互信互利,双赢共荣的成果。 恳请尊敬的中国大使,黄惠康博士关注大马上市,中国企业背道而驰,造假行骗,造成众多小股东钱财尽失,对中国企业完全失去信心,对中国政府埋怨。 古人有曰:得人心者,得天下。失人心者,失天下。 恳请中国政府不可放任大马上市,中国企业造假行骗。骗我钱财,伤你诚信,失我人心。 请严厉打击企业造假行骗,将企业骗子擒拿归案,绳之以法,树建中国法律威信。 树立中国为有正义,有诚信,有法律,有责任,勇于担当及受人尊敬的新兴超级大国。 我先此致谢。 启
English translation on the 9 questions as below without the story telling part:
A) Responsibility: The rise and fall of the Nation is the responsibility of all. State had state responsibility, citizen had citizen responsibility, father had father responsibility and son had son responsibility. I ask you: (Board of Directors) 1. As director, managing director what are your responsibilities? Are you capable of such responsibility? 2. A single contract with government agency to supply 3.6 million pair of tailored made shoes. One shipment in whole all rejected because of specification issue and incurs loss of 415.7 million RMB. If this outrageous, unconventional and absurd affair involve: abuse of power, corruption, collusion, criminal activities and fraud? Had you carried out your legal responsibility to initiate in-depth investigation and seek legal redress to protect company interest and minimize the losses to the minimum? On 157.5 million RMB of doubtful debt, had you taken legal action to recover the debt? 3. On heavy losses have you analysis the root cause, learn the lessons and hold people accountable? What penalties have you taken against those managers (Incompetent, dishonest and dereliction of duty) responsible for the loss? How many managers were punished? And for your own dereliction of duty what punishment had you imposed on yourself?
B) Big heart: We must have big and open heart to accept criticism and expectation of all, be the first to worry and carried the whole burden and the last to enjoy the fruit of success. I ask you: (Chairman and CEO DATO’ WU) 1. Is your heart is so narrow that it can only accommodate the interest of yourself, your sister, you brother in-law? And never have any space for the minority shareholders interest? 2. Have you ever defended our minority shareholder interest? And do something for the sake of our interest? 3. When you are enjoying all the tapping of the company, had it occur to you how we minority shareholders are suffering and feeling now? (Sorrow, despair, remorseful because of me my relative and good friends also becomes victim, I am sorry; no word can express how sorry I am. I hate you the scum. I am angry and in rage can’t wait to give you a big punch, but I won’t do that because I am civilized and treat guest with mannerism. But don’t ever think that we can be easily bully)
C) Dignity and Shame: We must live with dignity and know what shame is. I ask you: (Board of Directors) 1. During IPO you had taken RM 1.80 a share from shareholders to expand the company business. Today after 8 year later the share had fallen to worth only a few RM cents. Have you any feeling of shame? Do you have dignity? 2. Auditor: Had you done a forensic audit on the tailored make shoes? Is the cash in bank real or fraud? Are there any more unexploded time bombs in the account? (Please explain the audit method, audit finding and audit conclusion. Please explain why interest incomes are so low? Please explain page 72, items 20 Material contract) 3. Do you know your mistake? What mistake? How to change course and correct the mistake? Please answers my questions with yours clear conscience and pure heart.
i'm second on voting KYY as BOD, i think it is brilliant idea ! nevertheless, the company already in bad shape, i would suggest KYY to take over the business and manage by trusted person instead.
Sslee, u may contact KYY via his facebook or koonyewyin.com .U will certainly put more pressure on the management if u obtain Koon's (one of the major shareholder) support.
I cannot understand why keep blaming KYY for Xinquan. The fact is at the time of his recommendation all the indicators: FA, PE, NTA, Cash Flow, Revenue growth and Profit growth are all super positive. What we cannot analyze and foreseen is the future behavior, trustworthiness and integrity of the BOD and Owner. So who to blame? Growth up and take responsibility for our own action. Why keep insulting each other when we can be dignified and magnanimous. Our enemy is those crooked and fraudster BOD and Owner fight them in whatever way we can in court of law and in court of opinion. Must make them understand crime does not pay, sooner or later there will be consequence. Peace is upon all of us except those criminals. Do attend the Xinquan AGM on 7th Dec 2016 and exercise your voting right.
I think Mr KYY shd take over Xinquan since it is so undervalue, just like Mr Paramjit take over Msport to teach Chinaman a lesson . Show to China Malaysia BOLEH .
Some say Karma. Other say you reap what you sowed. I believe every action or inaction you take today will have a consequent in the future. We are now collectively living in the consequent of our pass action or inaction. The choice is up to us whether to take action now and change the future or just don’t brother and keep complaining why life seem to be so hard now. Individually we can be very insignificant but collectively we can do a lot of things together.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3111 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
berjaya
157 posts
Posted by berjaya > 2016-11-03 14:06 | Report Abuse
Can request additional resolution ?