Posted by Lewis Lee > 2014-08-15 17:41 | Report Abuse

When valuing the stock of a small china company, "cash at bank" must be marked as "ZERO" !! That's what investors all over the world are doing at the moment ...

Posted by Lewis Lee > 2014-08-15 17:42 | Report Abuse

Then you can understand why the share price of all red chips are low (after minus off all "cash at bank" value !! hahahaha ...

Posted by James Lim > 2014-08-16 07:07 | Report Abuse

Lewis lee, cash in bank able to cheat on first three year, how can it able to cheat in all over the five years?

Posted by James Lim > 2014-08-16 07:08 | Report Abuse

Do you thing the auditor is idiot?

Posted by wt222 > 2014-08-16 08:44 | Report Abuse

Then how to explain all the China stocks scam?if the auditors are not idiots then what are suggesting? Are they part of the plan?

Posted by wt222 > 2014-08-16 08:45 | Report Abuse

Or they are just happy and keep quiet as long as they receive their pay?

Posted by wt222 > 2014-08-16 08:47 | Report Abuse

Who are the auditors of transmile,Megan,silver bird n many more?are they idiots?

Posted by wt222 > 2014-08-16 08:49 | Report Abuse

Personally I don't think they are....they just do their routine job n take their pay.....

Posted by wt222 > 2014-08-16 08:50 | Report Abuse

In stock investment do yr own homework,don't simply believe in anybody....whether they are superman, super investor etc

Posted by James Lim > 2014-08-16 08:51 | Report Abuse

Y don u thing the tycoon want to kill the margin player b4 shoot up?

Posted by James Lim > 2014-08-16 08:53 | Report Abuse

Pn 17 counter in Malaysia also can shoot up, y good red chip counter can not?

Posted by wt222 > 2014-08-16 08:54 | Report Abuse

James Lim then u better buy more.....

Posted by wt222 > 2014-08-16 08:56 | Report Abuse

Maybe super investor tried to push down the prices to rm0.20 n privatized it or delist it so he can put all the cash into his pocket,,,ard rm1.50 near cash per share.....

Posted by wt222 > 2014-08-16 08:57 | Report Abuse

Then super trader can fly together with his cousin auditor to China to count their cash n celebrate 99....

Posted by wt222 > 2014-08-16 08:58 | Report Abuse

That's how they could become so damn rich n we are yet so poor....

Posted by matakuda > 2014-08-16 09:02 | Report Abuse

wt222 & James Lim, don't fight each other. Let's make the following conclusion.

wt222: may have his fingers burnt before by China stock, and presently do not hold any Xinquan.

James Lim: may have his fingers burnt also, but continue to possess the characteristic of "confirmation bias". James surely still has Xinquan in his portfolio.

"Confirmation Bias" means you tend to favour information that confirms your belief. In this case, you strongly believe the integrity of auditor. You display this bias when you gather information selectively, or you interpret it in a biased way. You tend to ignore the actual facts such as "Chinese Scam".

00

Posted by wt222 > 2014-08-16 09:03 | Report Abuse

Aiyo....I never buy China stocks one...even its being recommended by superman or super investor....

Posted by L2 > 2014-08-16 11:44 | Report Abuse

agree with wt222 on privatizn n delist risk to profit owners.

Posted by wt222 > 2014-08-16 12:31 | Report Abuse

dude....i m just joking.....in this world only superinvestor n his cousin believe that there is hundreds of millions cash in their ac.....even the china boss also dont believe.....

Posted by Lewis Lee > 2014-08-16 18:52 | Report Abuse

Come on ! All the innocent amateur investors out there, let me educate you how those conmen can play around with the audit system lah !
Auditor only audit the account of the company once a year or if the company want a high level of 'transparency', quarterly (also only 4 times a year) So ... During those time where auditors are not there to check the bank account, they can easily move the cash in and out as they like ! Provided they can place the money back in bank account before the auditor came to audit ! (Once a year ? They could even estimate when the auditor will come )
Unless the auditor can station in the management office 24 hours a day to make sure the cash is not withdrawn unauthorized ! How can that be happened ?
Besides China is a huge corrupt country, many corrupt persons including bank officers, managers are easily "bribe-able"... They can falsify documents, bank statements, confirmations ... All the conmen need to do is just bribe them !
These all explain why despite huge cash in bank, the interest income showing peanuts !!
Worst still if one day the conman boss wish to run away with the money, who can stop them doing that ?
They just simply sapu all money and retire in some ulu island or change identity and can never be found !
That's why I suggest investor shall value " cash in bank" in red chips company as good as ZERO ! The risk of them disappearing is just too high !! Many Singapore red chips companies "kena" until shareholders wants to cry also no tears !
P/s :- the above tricks are all real life stories, and the tricks are not exhaustive, there are many more conman's tricks we still don't know yet !!!! Welcome to conman's world !

Posted by naughtygirl > 2014-08-17 00:10 | Report Abuse

一竿打沉全艘船 mentality

Posted by hamitouzhi > 2014-08-18 16:11 | Report Abuse

this China stock price still high, wait the share price drop to 1/6 ~ 1/10 of the IPO then buy; most of China listed here are trading below 1/5 of IPO.

Posted by talkrealreal > 2014-08-19 10:27 | Report Abuse

1/6 is $0.30, not possible at least in the next 3-6 months

Posted by hamitouzhi > 2014-08-19 11:00 | Report Abuse

below 40c should be good buy

Posted by Lewis Lee > 2014-08-19 16:14 | Report Abuse

The Fujian office of China's bank regulator China Banking Regulatory Commission (CBRC) has found that an Agricultural Bank of China (ABC) bank document purportedly showing a cash balance of 577 million yuan (S$117 million) in an Eratat subsidiary bank account was forged by the subsidiary.

Even more egregiously, representatives of the subsidiary might have impersonated as ABC bank staff to reassure visiting independent auditors and company directors that everything was okay.

They apparently used the bank's Jinjiang Chendai Branch premises earlier this year, verifying the forged bank statement as true. They even informed the visitors that the Eratat subsidiary concerned was a good customer and did not have any loans with the bank.

The news is likely to hit retail investors, who own about three quarters of the company. Eratat had a market valuation of almost S$50 million before trading was suspended in January.

It would be rather naïve if retail investors still expected to get some return on their money, after all the previous information, for instance here. They should have counted on a total loss, anything else would be a bonus.

But Eratat executive director Ye Sanzhi sold off his entire 6.77 per cent stake for S$4.44 million last August.

That is indeed a red flag, and unfortunately not uncommon.

Last November, Eratat was awarded runner-up in the "Most Transparent Company Award 2013, Mainboard Small Caps Category", by the Securities Investors Association of Singapore. The same month, with the company trading at about nine cents a share, Voyage Research had an "increase exposure" call on the company with a target price of 28 cents a share.

Awards etc. do not mean much. There is a whole list of companies being featured on the front page of magazines like Fortune or Forbes which have gone down the drain. Often the moment they were featured was their highest point, after that things only went downhill. Companies with good governance can turn for the worst.

Much more useful is a list of companies with bad governance, they seldom improve.

Posted by Lewis Lee > 2014-08-19 16:15 | Report Abuse

http://cgmalaysia.blogspot.com/

Posted by Lewis Lee > 2014-08-19 16:17 | Report Abuse

Read the above conman's tricks and it will definitely scare all the shits out of red chips investors !!

Posted by Lewis Lee > 2014-08-19 16:18 | Report Abuse

Auditors can be conned easily by forged documents & impersanators in China !
Cantonese saying :- Ask you scare or not ?!

Posted by Lewis Lee > 2014-08-19 16:25 | Report Abuse

Mind you, this conman's company even won awards in Fortune & Forbes !!
Another Malaysian Chinese saying :- DOn't play play with China man !!

Posted by mukah > 2014-08-22 12:29 | Report Abuse

I agree that most Chinese counters listed in Bursa Malaysia are doing badly. I have attended a seminar held by Mr. Koon Yew Yin in Ipoh 4 years ago and he was strongly suggesting Xingquan. It was then RM1.65. I sincerely believe that Mr. Koon himself would have bought a lot of Xingquan at this price. Xingquan had fallen by a whopping RM1 since then. Going by this quantum, Mr. Koon would have lost RM30 million just on Xingquan. I have contacted him several days ago and found out that he is still holding all the shares he bought 4 years ago, except that he had transferred them to his children and grandchildren. In other words, either he believe that Xingquan will eventually be a winner or he had no choice but to stomach the losses and hope for the best. Either way, the good news to Xingquan shareholders is that he is holding on as otherwisr the price would have be trading at RM0.20.

Having said the above, I have discovered that several other big names were Xingquan's major shareholders like Madam Lai Poh Lin (she is a director of IOI Corp), Rickoh Trading (owned by Dato Koh Kin Lip who is a savvy investor) and Bank of New York Mellon. These are no dumb dumb in the market. Why would they invest in Xingquan? Either they were conned or they know something that we don't. Choice is yours since Xingquan is trading at such low price. But it can also turn out to be a dud.

Posted by saltedfish > 2014-08-23 16:35 | Report Abuse

The ex-merchant banker is coming!

Posted by Up_down > 2014-08-23 17:57 | Report Abuse

Being naive is a virtue. Welcome to those naïve dude to the crocodile swamp. You would enjoy a long lasting experience in life.

Posted by saltedfish > 2014-08-23 18:33 | Report Abuse

Even if you have that experience many times in life, do not warrant that you will not kena again.

Posted by Up_down > 2014-08-24 10:59 | Report Abuse

Nothing is taken for granted in this world. Past experience may not always work. It depends on the situation itself. The experience may hint or inspire us to change our view of a matter. We learn experience through mistakes. Some pay a heavy price in making an incorrect decision. It is not what they are really looking for in their life. It could be due to lack of clarity and perception or understanding of their own strength and weakness.

Posted by qqq668 > 2014-08-24 23:07 | Report Abuse

that is right

Posted by sangharimau > 2014-08-25 10:08 | Report Abuse

Follow wikileaks, buy

Posted by JENNY6888 > 2014-08-27 19:49 | Report Abuse

Big volume on the warrants

Posted by biggun > 2014-08-28 12:51 | Report Abuse

We noticed that Mr. Koon Yew Yin and his family members own some 30 million Xingquan shares. We are of the opinion that at such low price, Xingquan can be a target of "push up" play by some interested parties.

Posted by biggun > 2014-08-28 12:52 | Report Abuse

xingquan can be what the Chinese say, "salted fish come back alive".

Posted by hamitouzhi > 2014-08-28 13:10 | Report Abuse

imho, why price so low? because most of them(China stocks) are reluctance to pay dividend, or totally don't pay.

Posted by saltedfish > 2014-08-28 17:00 | Report Abuse

WikiLeaks is coming to KYY's rescue!

Posted by mukah > 2014-08-29 10:27 | Report Abuse

saltedfish, what do you mean by Wikileaks saving KYY? I don't get it. You read what biggun written?

Posted by smartbeng > 2014-08-29 12:17 | Report Abuse

xinquan coming..time to accumulate

Posted by JENNY6888 > 2014-08-29 21:40 | Report Abuse

Wikileaks successfully propped up all the furniture stocks eg Latitud, Hevea, Homeriz, Pohuat etc is now eyeing Xinquan. Be ready for at least a 100% gain in 3-6 months

Posted by wikileaks > 2014-08-31 22:06 | Report Abuse

Big positive corporate exercise soon.

Posted by saltedfish > 2014-09-09 13:51 | Report Abuse

What is up?

Posted by sangharimau > 2014-09-10 12:05 | Report Abuse

Just follow the footstep of wikileaks. Hevea, Latitude, Homeriz are the best testimony !

Posted by talkrealreal > 2014-09-11 11:06 | Report Abuse

Sudden surge in volume...anything please?

Posted by shawn1991 > 2014-09-11 19:16 | Report Abuse

Technically Bearish Sign. Look at the daily candlestick chart. It is a falling three methods.

Posted by saltedfish > 2014-09-11 20:31 | Report Abuse

Follow chart die faster