EuroSports Global Limited

(12-11-2014, 10:03 AM)greengiraffe Wrote: If that is suppose to be the case, then investors should have recourse such as class action against management of companies that are not truthful...

There are plenty of such experience in matured and established markets...

If class action is the indicator for the "doesn't fail" exchanges, then SEHK isn't one of them, together with SGX, which are the two key financial hubs in the region.

(12-11-2014, 10:03 AM)greengiraffe Wrote: If that is suppose to be the case, then investors should have recourse such as class action against management of companies that are not truthful...

This sentence gives the impression that there is no recourse to investors against IPO vendor when they are not truthful. Is that true?

(12-11-2014, 10:03 AM)greengiraffe Wrote: If that is suppose to be the case, then investors should have recourse such as class action against management of companies that are not truthful...

If that is the case, what happen if a company profit way exceed its forecast or investor expectation? Is the company truthful? Can investors sue the company for not being truthful and for loss of profit for not buying more? No one complain when making money, but blames everyone and every organisation when making losses. Is this fair?

The word "not truthful" is very subjective. The failure of Oceanus and Eratat was it because of "not truthful" employees or company? And when frauds happened/discovered, the company tend to skip the arrow and point it to a director or senior management who ultimately bears all responsibilities. Cases like these should ignite a class action but what minorities would get if no money would flow back to their pockets?

For Eurosport, there is no fraud, how can it be called "not truthful" and how can minorities take class action?

Noted from its annual report, their auditors are also RSM Chio Lim which I just saw it the same as TTJ
http://infopub.sgx.com/FileOpen/EuroSpor...leID=21899

Is RSM good?

I will be very cautious if a company go for listing when it's core business is showing sign of deteriorating. Three years of decent results is good enough to put a nice story into the prospectus. Reading the risk factors and having a good feel about its growth prospectus is really a must.

not vested

(12-11-2014, 12:51 PM)butcher Wrote: Noted from its annual report, their auditors are also RSM Chio Lim which I just saw it the same as TTJ
http://infopub.sgx.com/FileOpen/EuroSpor...leID=21899

Is RSM good?

Chio Lim is one of the top 10 in the world ranking, think just 1 or 2 places below the big 4. The ranking is based on the size of the firm and its associates globally rather than on its quality of works. You seems to be very concerned about the name of auditor perhaps you think the accounts audited by big names are free from errors/mistakes and frauds? The fact is that auditor is only expressing their opinion on whether the accounts are "true and fair" but not to guarantee that it is free from errors/mistakes and frauds.

(12-11-2014, 07:55 AM)greengiraffe Wrote: List and bombed... that is a good example on why SGX has "failed" investors in recent times and hence why volumes has been on consistent decline...

http://www.businesstimes.com.sg/companie...3m-h1-loss

EuroSports Global posts S$3.13m H1 loss
By
Claire Huanghuangjy@sph.com.sg@ClaireHuangBT
12 Nov5:50 AM
Singapore

LUXURY lifestyle company EuroSports Global Ltd has reported a net loss of S$3.13 million for the first half of its fiscal year ended Sept 30, from a net profit of S$1.89 million a year ago.

The company, which is the only authorised dealer for Lamborghini cars in Singapore

Not sure if it is fair to blame SGX. I think its job is to ensure transparency so that investors can make an informed choice. Nothing wrong with listing a lousy business if there is no breach of rules. It is our own choice whether to invest in it.

The company remains in bad shape...

(not vested)

EuroSports sinks into the red in FY15 on lower profit margin, higher expenses

SINGAPORE (May 26): EuroSports Global Limited ( Financial Dashboard) has sunk into the red with a net loss of $4.02 million in the financial year ended Mar 31, 2015 (FY15), from a net profit of $17.02 million in FY14.

The negative bottomline was blamed on lower gross profit margin and higher marketing and distribution expenses as well as higher administrative expenses, the distributor of luxury automobiles told the stock exchange.

Full-year revenue, however, registered higher at $40.4 million, up 1.6% from $39.8 million a year ago.
...
http://www.theedgemarkets.com/sg/article...r-expenses

Casualty of the new ARF scheme...