Posted by CharlesT > 2017-06-06 08:47 | Report Abuse

https://klse.i3investor.com/blogs/koonyewyinblog/46374.jsp
Why Xingquan is not giving dividend? - Koon Yew Yin (dd 14 Feb 2014)

During the AGM, All the shareholders wanted to know why the company was not giving out dividend while the company had about Rm 462 million cash which is equivalent to Rm 1.54 per share. Some even doubted if the cash was really there.

The Chairman gave a long explanation in Mandarin and one of the directors translated the speech into English. I think most of the attendees could not really understand and got more agitated.

I took the opportunity to express my view. I said that 12 of the 30 largest shareholders as shown in the annual report, were members of my family. We still owned about 30 million shares. This was my worst share investment in my life but I still have some hope in Xingquan.

CIMB were the underwriters at Rm 1.85 for the IPO and Fund Managers have bought most of the shares at the IPO. The latest annual report shows that its NTA is Rm 2.76 while its cash value is Rm 1.54 per share.

To allay your doubt of its cash pile, one of the founder of the Auditors S J Grant Thornton is my cousin who is a Chartered Accountant. His son is now the senior partner.

Would you buy it at the current price of about Rm 1.00?

I am obliged to tell you that my family members own about 30 million Xingquan shares and I am not asking to buy it and if you buy you are doing it at your own risk.

Posted by CharlesT > 2017-06-06 09:21 | Report Abuse

His average cost for this 30M+ shares could be ard RM1+ back to 2014.

As at 30 Sep 2016, his total shares is around 47M+, looks like he went thru the rights issues of 1 for 2 at Rm0.30 in 2016.

After selling his Warrants I think his average cost is ard 0.60+ to 0.70+ (assuming he didnt cut loss on his mother shares).

By buying another 8.5M at RM0.03 ytd his average cost will be further down to RM0.50...

Posted by CharlesT > 2017-06-06 09:21 | Report Abuse

If he buy in again today he could reduce his cost further down to Rm0.40+ or even lower...

However, it will be the same eventually whether his cost is Rm0.70+ or Rm0.40+ if the co go delisted...it will still be a total loss

Posted by thenewbee > 2017-06-06 09:22 | Report Abuse

kyy eat shit lo losing billions

Posted by CharlesT > 2017-06-06 09:24 | Report Abuse

Not so much lah...at most RM30M+...sup sup suai to him

Posted by thenewbee > 2017-06-06 09:28 | Report Abuse

don understand why still got peple buying into this useless share

Posted by CharlesT > 2017-06-06 09:32 | Report Abuse

Somebody deleted my 2 posts ytd....lol

Stock: [XINQUAN]: XINGQUAN INT SPORTS HLDG LTD
Jun 5, 2017 09:38 PM | Report Abuse

Smart Koon has been buying Xinquan since IPO time (Rm1.50+?) many years ago and all the way to Rm0.03 today (8.5M Shares)...

As at today,market cap of Xinquan is ard RM12M+..sup sup suai to Half Billionaire like him ..just spend few millions RM more to sapu all the shares then can fly to China to see the cash in the bank acs...

Certainly worths a bet....

Posted by CharlesT > 2017-06-06 09:33 | Report Abuse

Make a copy first....now u see now u dont...scary...ghost in I3

Posted by CharlesT > 2017-06-06 09:38 | Report Abuse

If I were him, what choice do i have?

1) Spend few more millions to sapu all the shares n then bring along my auditor cousin to China looking for the cash

2) Cut loss now and lose 99% of my money and then spend Rm800 to enrol for CPTeh's courses so as to learn and prevent in future.

Posted by smartly > 2017-06-06 09:42 | Report Abuse

i am still puzzling why mr. KYY is buying xingquan at 0.03 yesterday ?
this is against his own golden rules.
maybe because he has no choice, he is already one foot in & too deep into this, impossible for him to recover.
the act of buying could be....
1. averaging down his holding cost ?
2. try recovering some losses, at 0.03 entry price making double is mere 0.06...

let's see xingquan how it fair come these 2 days...

Posted by CharlesT > 2017-06-06 09:43 | Report Abuse

Refuse to cut loss.....living in self denial...thats all

Posted by smartly > 2017-06-06 10:02 | Report Abuse

yesterday buying no longer following his golden rules.
Mr. KYY is betting that all entries at this level 3c could easily bring him a double profit if everything turns back to normal for xingquan.
as he see this could be an opportunity making fast money (for the batches entered at 3c) despite huge losses in previous holding.

Posted by jack2 > 2017-06-06 10:04 | Report Abuse

a takeover will be interesting

Posted by CharlesT > 2017-06-06 10:08 | Report Abuse

Yeap. If the co can submit their financial ac by 5pm tmr (Wed) then he may make few cents gain on his Rm0.03 batch ytd or today

Posted by smartly > 2017-06-06 10:10 | Report Abuse

this could be a good opportunity for Mr. KYY to at least recover some losses.
everyone make wrong judgement at time. so i guess Mr. KYY could have written off these losses. his others picked could have already offsetting this xingquan.

Posted by smartly > 2017-06-06 10:28 | Report Abuse

Mr. KYY is not wrong in picking xingquan, he is being deceived by unscrupulous accounting conducted & furthermore happen that his niece is one of the reliable auditor source that give him all the confident that the "fake" accounting is real.

Posted by smartly > 2017-06-06 10:31 | Report Abuse

he blames no one except for himself. despite this mistake, no doubt he is still a great investor.

Posted by smartly > 2017-06-06 10:33 | Report Abuse

sorry should be nephew right ?

Posted by valueinvestor > 2017-06-06 10:43 | Report Abuse

There is no way KYY can "take over" the company as the Chinese major shareholder holds 55.53% in the Company. Also it is almost impossible for the QR to be released by tomorrow, 7 June 2016 as the unaudited results are obviously not finalised after the CFO officially left the Company on 30th April 2017 on the expiry of his contract. Also, even if the accounts are ready, would the remaining Audit Committee members wanted to clear it in time for the Board's approval?

Important questions that begs answers:
(1) Why did the Board of XingQuan waited until the CFO's contract expired on 30/4/17 without getting a replacement? They would have known that his contract is due for expiry/renewal and yet they have not acted earlier to ensure the Company is not without a CFO based on the current turn of events.

(2) Why did the Chairman of the Audit Committee resigned "suddenly" (as disclosed in yesterday's announcement) on 29 May 2017? Also, the announcement on the resignation of the Chairman of the Audit Committee was only made on 1 June 2017, 3 days after the event took place which is a kind on non-compliance to the Bursa Main Market Listing Requirements as such changes in important positions are to be announced immediately.

Posted by stockmanmy > 2017-06-06 10:51 | Report Abuse

logically, delisting and away from the public eye is very much part of their plans...even from the beginning.

Posted by smartly > 2017-06-06 10:54 | Report Abuse

you could be right, a conman plan. this happened in mainland where they can plot a 10 years con job.

Posted by CharlesT > 2017-06-06 11:05 | Report Abuse

stockmanmy logically, delisting and away from the public eye is very much part of their plans...even from the beginning.
06/06/2017 10:51

Never give yr noble advice to yr Master ah? I think he is still buying millions of shares today

Posted by stockmanmy > 2017-06-06 11:08 | Report Abuse

The relevant question is...can a Malaysian truly understand a Chinaman conman?

I think Chinaman conman is light years ahead.


Very different cultural back ground, experiences and expectations.

moral of the story...stay clear from all Red Chips, stock market got more than enough risks without Red Chips.

Posted by CharlesT > 2017-06-06 11:08 | Report Abuse

Infact I have been advising him to sell n cut loss on Xinquan since 2014 but he never listen and instead always showed off on some of his past records (founder of Mudajaya/IJM/Gamuda etc n how much he made in HK etc) n made fun on my England level...sigh..

Posted by CharlesT > 2017-06-06 11:13 | Report Abuse

Mr.Koon is good at making money from Msian investors but then Chinaman made money from him...guess small fish kena makan by small crocodile and small crocodile kena telan by big crocodile....sad...

Posted by smartly > 2017-06-06 11:14 | Report Abuse

CharlesT, your advice come with sarcasm of course people will not buy it. be sincere a bit people will treat you the same way you treated people.
make friend, not make enemy.

Posted by CharlesT > 2017-06-06 11:15 | Report Abuse

Posted by smartly > Jun 6, 2017 11:14 AM | Report Abuse

CharlesT, your advice come with sarcasm of course people will not buy it. be sincere a bit people will treat you the same way you treated people.
make friend, not make enemy.

U think i alone gave advice to him only meh? Many advised him in a nice way but he never listen one....in return he scolded n cursed them as stupid idiots etc etc...

Posted by CharlesT > 2017-06-06 11:16 | Report Abuse

Whoever disagreed with him will automatically becomes stupid idiots to him

Posted by smartly > 2017-06-06 11:18 | Report Abuse

sslee also make the same mistake of buying xingquan but i salute him following through his case with so many people seeking for clarification. hope there is answer for him.

Posted by CharlesT > 2017-06-06 11:20 | Report Abuse

FYI, I did give my advice to Sslee and he took my advice..see the difference? Oldman never ever listen to anybody (maybe except OTB)....he thinks he is Stock God

Posted by smartly > 2017-06-06 11:27 | Report Abuse

maybe not to the state of giving advice, just sharing your thought with facts. after all this is a sharing platform.
Mr. KYY is a smart people, he knows what happen just like sslee he admits his mistake.
If all give advice & started off with name calling, of course Mr. KYY will get offended calling all idiot.

Posted by CharlesT > 2017-06-06 11:31 | Report Abuse

He is always the one who started with name calling...lol

Posted by smartly > 2017-06-06 11:41 | Report Abuse

ok. i understand how you feel. mr. kyy also human, he has his temper. if you can forgive him, then maybe it is a good resolution to you. my point is one can make multi-millions a year certainly there are something we can learn from him. take and accept his good points & ignore his bad one.

Posted by maunkulopdollah > 2017-06-06 11:46 | Report Abuse

Buy..buy..don worry be happy..hihi

Posted by maunkulopdollah > 2017-06-06 11:50 | Report Abuse

Just a matter of culture of communist china government policy..

Posted by masterus > 2017-06-06 11:52 | Report Abuse

Psiptek nta worth 0.59. Share price 0.17. Generate profit and non pn17 list.

Posted by nklye > 2017-06-06 12:04 | Report Abuse

I think situation in this company is not as simply as we see it.
Something fishy behind that's not the doing of Uncle Koon.
If Uncle Koon has subscribed huge number of the shares in the company prior to the present problem and he has and still has confidence to company's prospect by buying in more, I think something is battling behind and he seems to take the fight to another level or another situation...

Posted by godofgamble > 2017-06-06 12:04 | Report Abuse

this xinquan is gambler's counter. yesterday 2cts today 4cts. 1 day 100% return.

Posted by CharlesT > 2017-06-06 12:07 | Report Abuse

Nkyle, u could be right...Uncle K has been buying since RM1+ in 2014, all the way down to RM0.02/ Rm0.03 today n yesterday...never scare....He could have known something others dont know

Posted by CharlesT > 2017-06-06 12:09 | Report Abuse

Uncle K could be a real pivotal investor, as what Stockmanmy always promoted at one time....

Posted by CharlesT > 2017-06-06 12:10 | Report Abuse

He bought 8.5M at RM0.03 ytd and now is sitting on 33% paper gain oredi.....

Posted by nklye > 2017-06-06 12:13 | Report Abuse

Pardon if I'm wrong but the situation give in to speculation. And I tend to look at what we have heard and read about some local tycoons who were 'harassed' by 'someone'...

Posted by CharlesT > 2017-06-06 12:15 | Report Abuse

Posted by gushan > Jun 6, 2017 12:14 PM | Report Abuse

charlest, u must have bought some just now,else why i'm detectng a sudden change in your tone. Anyway, i still say this is dead cat bounce play. Long term underwater. Play at your own risk

U think too much oredi....lol

Posted by CharlesT > 2017-06-06 12:18 | Report Abuse

Smart Koon or oldman or Koon Koon or Uncle Koon or KYY...does it matter?

Posted by CharlesT > 2017-06-06 12:24 | Report Abuse

Aiyo u dont understand sarcasm...

Posted by CharlesT > 2017-06-06 12:25 | Report Abuse

So if i whack him now again then I must have sold the Xinquan shares i bought just now when u found i changed my tone?

Posted by maunkulopdollah > 2017-06-06 12:25 | Report Abuse

The real investors will never die..the punters should say goodbye..

Posted by CharlesT > 2017-06-06 12:26 | Report Abuse

Uncle Koon- I bought Xinquan
Oldman- I sold Xinquan

Interesting logic

Posted by CharlesT > 2017-06-06 12:28 | Report Abuse

U dont understand the complexity of my feeling towards him (Uncle Koon/ Oldman/Koon Koon/Smart Koon/Kyy etc)

Posted by nklye > 2017-06-06 12:31 | Report Abuse

He's in the 70s.
Unversal good values or most cultures give respect to our elders.
He has and is doing a lot of good deeds no matter how, why and what we look at it.
He put in his own effort and his own reasoning to make what he has made and going to make and the most important he did and doing it legally.
He doesn't steal or rob to make his wealth.
And he returns back some to society and some may not agree with it...