Posted by Mioxi > 2017-07-05 15:18 | Report Abuse

Hero on the front page...no difference than crook inside page

Posted by Mioxi > 2017-07-05 15:30 | Report Abuse

Csl=cepat sangat luput

Posted by Mioxi > 2017-07-05 15:31 | Report Abuse

Luput segala -galanya

Posted by Sslee > 2017-07-05 20:14 | Report Abuse

Dear volks2
Received below email dated 4-7-2017 from SC.
“We refer to our earlier email on 15 June 2017, in relation to meeting with the Securities Commission Malaysia on Maxwell International Holdings Berhad, China Stationery Limited and Xing Quan International Sport Limited.
Appreciate if you could furnished your contact number for us discuss on the meeting arrangement. Alternatively, you may call me at 603-6204 8XXX or 036204 8XXX.”
Already make the call and give him my Indonesia HP number. Hopefully they can arrange a joint meeting next week.

These are some of the issues I would like to discuss with them.
1. Maxwell CEO had promised 10 cents capital repayment during 22 June 2015 AGM (Financial year end 2014). Subsequent the Major shareholder cum CEO not just renege on her promised but spend RM57.25 million on advertisement expenses and place the bank balance of RM337.21 million with an asset management company. (Both later become auditor disclaimer of opinion that triggered PN17) and I am sure Maxwell will be delist come Sept 2017. What actions are SC and Bursa going to take against the CEO?
2. The current Audit of bank balance which required only verification and confirmation with the local bank branch where the money is deposited is grossly insufficient to prove beyond any doubt that the bank balance is real and rightfully belong to the company. What actions SC and Bursa going to take to rectified this loophole?
3. Is it a must that CFO is needed to prepare and complete the quarterly un-audit financial report? Aren’t companies have account department to prepare financial report and in absent of CFO the CEO should be capable and competent enough to sign off the financial report. If by end July Xingquan still unable to fill the CFO post then what will happen to Q3, Q4 and Audited Financial report 2017? Any actions SC and Bursa plan to take against the CEO of Xingquan.
4. The current reporting to Bursa on AGM only on the result of the resolutions voting and without the minute of AGM. After personally attended few AGM, it’s become very clear that the BOD, CEO and CFO are not well prepared to answer inquiries from the attendees and worst some of the CEO are just simply talking nonsense. Should SC and Bursa make its compulsory to public the AGM minute too?
5. On the reelection of directors during AGM, nothing is given to the attendees to evaluate the performance of these directors. Should the BOD meeting minute be given to all attendees so that we can know what had these directors done during the BOD meeting? Some are sleeping directors dare not speak anything during the AGM. Can we attendees nominate our nominee to stand for directorship?
Feel free to post in any more issues you would like me to bring up to the attention of Bursa and SC.
Thank you.

Posted by lkoky > 2017-07-05 20:36 | Report Abuse

Great work Sslee!!

Posted by Mioxi > 2017-07-06 09:11 | Report Abuse

This is a classical amateur discussion and expectation that bring us nowhere. I dare to bet for one off 10k for 1k for the cheaters remains free at the end of day where hard earn investor's money worth zero cents ultimately!

Posted by Mioxi > 2017-07-06 09:13 | Report Abuse

This is the quest for stupidity to comfort well pay pretender.......cakap tak serupa bikin

Posted by teo44 > 2017-07-06 09:55 | Report Abuse

DEAR Sslee,Good job! just do it. i will support your all the way.can we ask for an EGM to address these issues.

Posted by alenac > 2017-07-06 10:04 | Report Abuse

OMG CSL still alive!!!!

Posted by Mioxi > 2017-07-06 13:39 | Report Abuse

I bet you the pretender ss lee will be giving another answer that equate to no clear cut outcome after the meeting.

If that happened, it's not wrong to assume he is part of the crook hired to make ppl believe there's slim chance in csl. ...

Karma will eventually take place!

Posted by Loan > 2017-07-06 15:14 | Report Abuse

Support u ... Sslee

Posted by Mioxi > 2017-07-06 16:36 | Report Abuse

I also support him initially...but after more than a year with the same style of acting...I withdraw my support

Posted by Hashim Razz > 2017-07-07 06:59 | Report Abuse

50 %...?

Posted by Sslee > 2017-07-07 08:37 | Report Abuse

Dear all,
I accidently bump onto i3investors on 31-8-2016. I have to say, if only I had knew of this i3investor much early I would not had bought into the red chip companies. Previously I only look at The Star business page and circle out those low PE and High NTA stock and then check out the financial report at Bursa website. That is how I make my biggest mistake of buying into red chip company with balance sheet of huge cash and bank balance. My mistake and I take full responsible for my mistake. Thus I started to attend company AGM and confront the BOD as of what are actually happening?
I attended my first ever Xingquan AGM last December and come out very angry that the BOD were lying through their teeth and get away with it. I told myself then I need to stand-up against this injustices. Thus I started my journey to seek help from MSWG, i3investor, Company Secretaries, Bursa, Auditor, Lawyer, Substantial shareholder of not less than 10%, Investment Banker and also assistance from China Embassy with the aim of making a requisition for EGM (Note: Unless you are sure of not less than 50% support, the EGM option will be an expensive but futile attempt as any resolutions will be outvoted by the major shareholder). In May I attended CSC Steel and CSL AGM and last month JAKS AGM.
After going through all this and talking to many interesting people and observing what had happen to MSPORT. I come to conclusion that the best way forward is to work closely with Bursa and SC. As both agencies have the sacred duty and responsibility of protecting investor interest, integrity of securities market and take action against fraud committed by company. Whoever breaks the rules will pay a heavy price.

I believe we are now collectively living in the consequent of our past actions or inaction. We can chose to live in our sorrow past, bemoaning and blaming all the people or choose to live in now and do what we can do now and thus collectively help to shape a better future. The choice is ours.

Lastly I would like to express my thanks to all the people and Sifu in i3 for giving me their valuable advice and encouragement. With the wealth of investing information in i3, I had turned corner and make profit from my share investment.
Thank you

Posted by Loan > 2017-07-07 12:53 | Report Abuse

Tq Sslee

Posted by stockmanmy > 2017-07-07 13:04 | Report Abuse

I feel so sorry for SlLee.

The SC, Bursa and everyone involved are guilty of negligence and have abandoned their duty of care and responsibilities.

The Chinamen knows Malaysia better than so many Malaysian investors knows Malaysia.

Eventually all Red Chips will be delisted...and that has been their intention all along.

They just wanted to take our IPO money, rights issue money....get it delisted and say sayonara.


and the authorities, through their lack of prosecution are partners in crime and fraud.

Posted by stockmanmy > 2017-07-07 13:04 | Report Abuse

I feel so sorry for SlLee.

The SC, Bursa and everyone involved are guilty of negligence and have abandoned their duty of care and responsibilities.

The Chinamen knows Malaysia better than so many Malaysian investors knows Malaysia.

Eventually all Red Chips will be delisted...and that has been their intention all along.

They just wanted to take our IPO money, rights issue money....get it delisted and say sayonara.


and the authorities, through their lack of prosecution are partners in crime and fraud.

Posted by stockmanmy > 2017-07-07 13:07 | Report Abuse

The Chinamen did the same things in NYSE....what makes people think the Chinamen will be more honorable in KLSE?

Posted by alenac > 2017-07-09 21:27 | Report Abuse

CSL going to disappear into the Bermuda Triangle?

CHINA STATIONERY LIMITED
(Incorporated in Bermuda under the Companies
Act 1981 of Bermuda)

Posted by volks2 > 2017-07-10 23:08 | Report Abuse

Well Done, SSLee

Posted by volks2 > 2017-07-11 08:14 | Report Abuse

so what is the next step?

Posted by Mioxi > 2017-07-11 15:41 | Report Abuse

Dispose immediately before worth zero cent

Posted by BIGAPETITE > 2017-07-11 16:51 | Report Abuse

buy some to support SSLee at current price-fair value

Posted by Mioxi > 2017-07-12 09:25 | Report Abuse

If you do not know what the next step is...stop writing non sense here in your quest to mislead newbies. ..that might think there is a hope here.

Please don't insult your own self by acting like a hero here while actually your action ended with talk only but zero effect.

Posted by tah16600 > 2017-07-12 09:48 | Report Abuse

The responsibility lied in the hand of Bursa security. No action from this security make me guess that perhaps some dedak r given, so both eyes r closed. Thus no action r taken. So rampant cheating r created in Bursa Malaysia where u can see one by one r delisted sooner or later.

Posted by Mioxi > 2017-07-12 09:51 | Report Abuse

Our society will be less complicated without hypocrisy attitude demonstrated by you!

Posted by Mioxi > 2017-07-12 09:54 | Report Abuse

I had learned a good lesson here....mistake refusal egocentric is the real hypocrisy in our society!

Posted by Mioxi > 2017-07-12 09:55 | Report Abuse

Much worsen than the cheater!

Posted by Mioxi > 2017-07-12 09:57 | Report Abuse

The cheater get the bad name and being cautious by the public while the hypocrite attempt to get good name hide underneath his selfishness!

Posted by Mioxi > 2017-07-12 09:59 | Report Abuse

...with fake popularity in-built in his world of egocentric !

Posted by tah16600 > 2017-07-12 10:07 | Report Abuse

Bursa security should be proactive in their role cos they r answerable to the investors investments. U see, so far no action have been taken against Msport Directors for fraud the company AR. They only know how to suspend n delist the company. Oh very easy job . Is this the functions of the security ?

Posted by BIGAPETITE > 2017-07-12 11:07 | Report Abuse

bit by bit squeeze in @ 0.055

Posted by smehct > 2017-07-12 16:02 | Report Abuse

In my opinion both the auditor and the audit committee definately should have some idea whether the Cash in hand / FD kept is real or not , just by looking at the movement transactions one should be able to deduce . At the end of the day if anything happened they should be equally liable .

Posted by Hashim Razz > 2017-07-12 22:26 | Report Abuse

All the story will different when the price get 20 cents next few weeks.buy now

Posted by Hashim Razz > 2017-07-12 22:28 | Report Abuse

price target RM 1.16 cents

Posted by Mioxi > 2017-07-13 09:42 | Report Abuse

Rm0.03 is coming .....三分来了!

Posted by Sslee > 2017-07-13 21:44 | Report Abuse

Dear all,
I do not know why my previous last comment in CSL was deleted (Was its deleted by Admin or I accidently delete it) Anyhow I am a newcomers to this i3ivestor community (Since 31-8-2016) I am still humbly learning from all the Sifus in this investment community and am grateful and thankful to all the advice and criticism rendered to me. I had learned a lot and benefited a lot as my share investment had turned corner and start making profit (I am still holding book loss on my red chips companies holding, but had made profit from my other portfolio trading and investment). I thought I had learned the best policy on dealing with those negative criticism is by not directly responding to them and hopefully they will lose the interest on my comment and just fade away, as I had see enough hard hitting and never ending angry war of words between Stockmanmy and Stockraider till wee hours of the night. I might be wrong again in how to deal with negative criticism.
I do occasionally post my comments (I had full time 8am to 5pm job) thus only free to do my posting during off office hour, weekend or during holiday. If my comments had offended anyone or had misled anyone to have hope on a hopeless situation, I offer my sincere apology and I had to be truth to you, I am an amateur and novice in investment and in no position to recommend any share as I have not yet read any investment books often quote by investment Sifus.

Dear Mioxi,
You are right with your advice; “Don’t judges the book by its cover… don’t judge the pretender laterally…ada udang disebalik batu.” I had read through all you comments started 18-5-2017. I wish you well on your JCY investment and can only hope that you will give me some constructive suggestions on what are the issues you would like me to bring up to the attention of SC and Bursa? I have an important meeting with them tentatively schedule on the last week of this month.
I start the journey with no idea where it will lead me to or how it will end. However along the way I begin to feel the love for it as I have the opportunity to meet many interesting people. By talking and listening to them of their vast life experience and many more interesting subjects. I felt my world has begun to expand as my mind had been opened and I begin to look at thing differently. I will always treasure the advice given to me by a prominent personality; “Have patience and be calm as we alone cannot change the many wrongs of this world overnight. So be patient, have faith and do not lose hope, be persistent, have courage and perseverance till the end. The end might turn out to be a disaster but anyhow enjoy the journey and learn something from it.

Thank you.

Posted by stockmanmy > 2017-07-14 13:09 |

Post removed.Why?

Posted by stockmanmy > 2017-07-14 13:15 | Report Abuse

andy

this CS too will be delisted....eventually

Posted by stockmanmy > 2017-07-14 14:27 | Report Abuse

at 6 sen......the Chinamen will try to get it delisted....there is no advantage for them in maintaining the listing.

Posted by teo44 > 2017-07-14 16:12 | Report Abuse

Dear Sslee, you just do what you can, i can feel your sincerity to dig out the truth, eventhough the chances is slim,as so many illogical things, if there is really so much cash rm 1.2 b in acc. it does not make sense selling off a lot share at only 7 cents.i had lost a lot in this counter, but i also learn something.share investing is a long process, the most important is admit the mistake made and keep going. you had my support and respect . who know things will turn positive with great efforts . once again THANKYOU.

Posted by stockmanmy > 2017-07-15 10:55 | Report Abuse

maintaining listing has no advantage to Chinaman.

Posted by Sslee > 2017-07-16 12:57 | Report Abuse

Dear teo44,
Thanks for your encouragement and kind words. I appreciate it. We have to hope for the best but be prepared for the worst.
Do not be too mean and unforgiving with ourselves, it is always best to learn from other people mistakes but life is such ironic that sometime we need to learn the painful lessons ourselves. Anyhow what did not destroy us will make us stronger.
Let assure that I will continues with my quest for the truth to be told and to bring this sad episode to it final true closure rather that seeing the whole thing let hinging on for untold period. Cheer.
Thank you

Posted by AyamGoreng > 2017-07-17 12:32 | Report Abuse

kikikiki..... duit ada manyat2 di akaun. tapi taukeh chan fung jual dia punya saham hanya 7 sen

Posted by ks55 > 2017-07-17 14:43 | Report Abuse

sslee -- Why did you buy into so many red chips?
Ignorant?
Believe auditors report that money in bank is real?

Xinquan may be first encounter.
CAP second?
CSL third?

Must be something very wrong some where.
Could it be trying to make fast buck in terms of % gain?

Once bitten is ignorance.
Second time is greed.
Third time become idiotic............

Posted by Sslee > 2017-07-17 21:41 | Report Abuse

Dear Ks55,
I only have 3 red chip companies Xingquan, CSL and Maxwell in my portfolio.
I accumulate Xingquan till 3.13 million shares at average cost of 20+ cents last year before Xingquan reported huge loss. At that time I sold my Arreit and bought into Xingquan, thinking if my cost is below the right issue price of 30cents I am sure of making quick profit as Xingquan had never reported any loss before.
As of Maxwell, I was misleading by the announcement in Bursa Malaysia website dated 22 June 2015: “That the Board of Directors be authorized to consider and do all the necessary to give effect to a proposed capital repayment of RM0.10 per share to the shareholders of the Company.”
Thus I bought some of this share thinking very soon I will get a capital repayment of RM0.10 per share.
As of CSL, I bought this share some years ago, as I was attracted to the gross margin for CSL stationary products (Patent and Non Patent) is good. Anyhow CSL only constitute small % of my portfolio.

Yes I bought into these Red Chip Companies thinking the cash and bank balance is real and if the company keep making profit sooner or later the company will give dividend as shareholders will surely demand dividend. I had knew of accounting fraud where sales and receivable are falsified but to falsified bank balance, I cannot imagine how this can happen when you have external Auditor and Financial report that need to comply with Bursa and SC rule and regulation. If indeed bank balance is falsified many people shall end up in jail.

Thus my meeting with SC and Bursa is to ask them what action are they going to take on the CEO of Maxwell as there are plenty evident of fraudulent acts as per Auditor Disclaimer of opinion.

As of CSL and Xingquan, since I already had the written replied by CSL auditor on how bank balance is audit and verified. I will urge SC and Bursa to be proactive and give directive to all the Auditor of Red Chip Company to redo a more comprehensive audit and verification on Bank balance.
This is what I hope to achieve with Bursa and SC.
Lastly to all the Red Chip Company BOD and Auditor, beware the SC and Bursa is going to come after you.

Thank you.

Posted by Mioxi > 2017-07-18 09:57 | Report Abuse

Beware the SC and bursa is going to come after you (after complaint from ss lee), I think this statement is entitled for the most arrogant statement in this blog!

Perhaps, I would nominate as one of the most naive statement here as it implies no action be taken without his complaint. I never recall any such impactful in bursa due to one person of action .....this might potentially turn into the most laughing topic here!

Posted by hotred > 2017-07-19 22:56 | Report Abuse

No hope for this share！

Posted by BIGAPETITE > 2017-07-20 10:47 | Report Abuse

back to the price desired, starts to accumulate small amount

Posted by tah16600 > 2017-07-21 08:30 | Report Abuse

Good work done by Sslee. The C.F is heading for trouble.He is going to be kick out soon just like Msport