Don know wats in the mind of this idiot Xie. If he knows that Xinquan is so bad, he should throw all his balance share ASAP before other 70% major holders do.
Saltedfish.. I never ask anyone to die faster. I didn't ask people to buy nor sell in xinquan. I'm just sharing some technical candlestick interpretation while xinquan is 0.60++. Moreover, i'm telling people that is bearish sign. Why do you said i ask people to die faster?
If you take that as so call i ask you to die faster, then i take back the word. Just a joke made on you being so supportive on xinquan. Nothing much. =)
China market rebounds. Shanghai stock has been downwards trend for 5 yrs. The big reversal just starts 3 mths back. If u can spot one great china stock to buy, the reward could easily double in 1 yr time. Xinquan to me is a good one, the best of all malaysia listed red chip. Whether i m right or not time will tell.
I believe Wikileaks will goreng this stock, even all these cash shown in Balance Sheet may not exist in real life...coz Wikileaks managed to goreng Hevea before....
Many will be surprised to know that Xie is a proxy to some big wigs in Fujian. I have been working in China with a big conglomerate for 20 years now. I have just recently retired and are very familiar with the way the Chinese conduct business in China. Xingquan is considered a small timer in China. Its products are not found in big cities like Beijing or Shanghai. Xingquan investors will be shocked to find out this. If you go to Beijing and ask for Gertop or Addnice wares, chances are they do not know what you are talking about. So in short, Xingquan is unknown to many in China except those in Fujian.
The question is why Xie is selling his stocks even at RM0.70-0.50??? The answer is quite simple. He is a proxy to those in power who got Xingquan shares for free. They got the shares free prior to its listing. In China, you need approvals from provincial heads before your company can go up for listing without which there is no way the share can be transacted in an offshore country. The "owners" are now selling and in order to cushion the fall, the Xingquan owner raised private placement.
...."They got the shares free prior to its listing. In China, you need approvals from provincial heads before your company can go up for listing without which there is no way the share can be transacted in an offshore country. The "owners" are now selling ...."
The "owners" of these"free shares" are selling now? After 5 years XQ has been listed? You must be a joker
Hi Fella, the top 15 holders including xie owns >80% of shares, the rest hold small amt. But none of these top 15 except Xie dump shares, if not will be reflected in bursa announcemt. So i think your saying some big shots throwing behind not true. Xinquan main business is shoe sole, gertop now only makes up 10% of business so sure u cant find it in shanghai, but now u can buy it in singapore- check up spore online shop qoo10. Gertop is just growing. U r right to say Xie is a proxy, why he dump share i puzzle. Guess only time will tell
And is definitely no logic if u r a big holder behind with the intention to dispose shares, u will get some proxy like Xie to throw thus pressing down the price then quietly sell behind.
If u check the transacted volumes during the period when Xie first started selling, u will see Xie's vol form the major bulk, which indicates that fr the time Xie sells till now, there is no other major seller
I think many of you do not fully comprehend what I commented earlier. Please understand that I am sharing what I know on how Chinese officials in China conduct when a company wants to list in an overseas stock exchange. Companies which are listed in Malaysia were companies failed to make the cut in USA, Shanghai, Hong Kong, Singapore or even Thailand. Great solid companies will be listed in USA and Shanghai. Hong Kong and Singapore will be the next on the list if they can't qualify for US and Shanghai. Those which are listed in Malaysia were rejects from the tiers. Having said that, companies like Xingquan would have to first transfer its shares into a off-shore country and for this case it was Bahamas. But before you can even do that, you need approvals from the local authorities and for this case it was Fujian officials. These officials would want a piece of the action for free. And of course they can't hold the shares in their names. That's why the need of proxy or proxies. But some select only one or two whom they really trusted. It is a cartel.
Imagine if you are an official and been given 30,000,000 Xingquan shares for free, would it matter to you if you sell at RM1.50 or even RM0.50? Of course, you would choose to sell at the highest price possible. But please remember that Beijing is going after corrupt officials in a very big way now. So is best to have a cleaner hands now.
That is why Xingquan been dropping from RM1.60 to RM0.55. They dump the stocks in tranches to avoid a free fall. Don't you realize that all Chinese counters in Malaysia are dropping?
I am not saying that Xingquan is a cheat but what I am saying that it is better for the real owners of Xingquan to rid off these "owners" as otherwise anything that they (real owner) do would be dictated by them ("owners"). They can do havoc to you especially when you are running the manufacturing facility in their backyard.
Are they any hope for Xingquan? The answer is probably yes as the owners or people related to the owners are buying back the shares at low prices. But it is going to be a long haul before you can see the price back up again.
I do not subscribe to your notion that those "Red Chips" (mainland China listed companies) that listed on Bursa are "reject" from USA, HK or Singapore.
To put the perspective right, Xinquan was originally slated for an IPO in Singapore. It is only when the SC, MOF as well as Bursa wanted to compete paralelly and head-on with SGX that Bursa/SC decided to pitch for Xinquan, and as the history now prove, Xinquan's IPO was successfully "snatched" from SGX and get listed on Bursa.
Those CIMB merchant bankers involved in the pitching can testify on this.
Further, the CIMB Merchant Bank CEO Datuk Nazir Razak then even bought 400,000 shares of Xinquan at the IPO price and held the shares until today.
Secondly, your notion that : "....Great solid companies will be listed in USA and Shanghai. Hong Kong and Singapore will be the next on the list if they can't qualify for US and Shanghai." is by all mean an insult to HKEX or SGX.
Case in point : Alibaba. I don't think you know that Alibaba's first choice of IPO was HKEX rather than USA. Please google the IPO story of Alibaba then you will realise.
The morale of this : please get your facts right before you comment, as the forum here has a lot of investors or punters alike looking for direction or tips
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Posted by shawn1991 > 2014-09-24 16:10 | Report Abuse
Haha.. Salted fish, later you really become salted fish.