Fung Choi Media Group

The Board wishes to clarify that at this stage there is no suggestion that the integrity of the Company's
financial statements for the financial year ended 30 June 2014 (the "FY2014 Full Year Results") is
compromised. As disclosed in the SGXNET announcement dated 29 August 2014, the Company's
finance team is in the process of collating further information on the Company's supply chain
management business. This is at the request of the Company's external auditors as part of the audit on
the FY2014 Full Year Results.. The Board will work with management to finalise the review of the
FY2014 Full Year Results as soon as possible.

Another trading halt called this morning

(08-09-2014, 09:23 AM)propertyinvestor Wrote: Another trading halt called this morning

300 lots & 400 lots bid & ask respectively at 9c (gap up) before halt. Sounds like it could be more positive than negative....

Wow Fung Choi actually has investments in GuangZhou Industrial park!

6月18日下午，广州开发区管委会副主任、萝岗区区长李红卫一行莅临丰彩传媒集团调研指导工作，了解易电国际电子商务聚集园区的建设情况。管委会副主任郭粤明，区经发局、科信局、规划国土局、建设局、农林水利局负责人陪同调研。丰彩传媒集团总裁黎婉玲小姐热情接待了李区长一行。
为响应广州开发区整体发展要求，同时实现互联网时代企业转型升级，我司审时度势，与广东省南方电子商务创新服务中心合作建设了广东易电国际电子商务聚集园区项目。目前，该项目已进入紧张的施工改造阶段。
李区长一行现场察看了园区建设改造的相关情况，并听取了我司领导的工作汇报。李区长肯定了丰彩集团积极转型，建设电子商务产业聚集区的做法。他表示，电子商务产业是我区重点发展的产业之一，目前已聚集了一批商贸型、平台服务型企业，具备良好的产业链条。管委会、区政府将做好各项服务工作，全力支持丰彩集团转型发展、做大做强。
易电国际电子商务聚集园区选址于科学城南翔一路原丰彩印刷包装产业园，将与以色列企业合作打造“基金、孵化器、园区三位一体”的跨国电子商务聚集区。根据规划，未来3—5年内，园区将实现营业总额1000亿元、带动产业链经济效益2000亿元，入驻企业200家，吸引各类总部经济企业5—10家。

Still halt, doesn't look good.... Ever since the thread is started, Fung Choi like suffer a curse like that, lots of roller coasters and news coming out.

[ not vested, and no longer interested ]

http://infopub.sgx.com/FileOpen/FC_annou...eID=314469

Default on bonds

Fung choi just got news that they are in default on one of the bonds

http://infopub.sgx.com/FileOpen/FC_annou...eID=314469


So its not a problem with their accounts afterall...

Management has also been in discussions with its bankers in the People's Republic of China ("PRC"). The Board believes that taking into account the amount of accounts receivables to be collected and
existing banking facilities from the Company's bankers in the PRC, the Company will be able to repay the amount claimed by the Bondholder.



http://infopub.sgx.com/FileOpen/FCM_Resu...eID=297280

Hello....... 3Q2014 results shows that it has HK$322m cash and cash equiavent but still to need to 'collect from acct receivables and existing banking facilities' to repay.......

what happens to the cash equivalent???

Is it a problem with accounts?

Last time I remember they also default on convertible due to 'Chinese New Year". Now Mooncake festival....... maybe we will see Halloween soon ^^

(11-09-2014, 04:59 PM)propertyinvestor Wrote: Fung choi just got news that they are in default on one of the bonds

http://infopub.sgx.com/FileOpen/FC_annou...eID=314469


So its not a problem with their accounts afterall...

(11-09-2014, 05:56 PM)Behappyalways Wrote: Management has also been in discussions with its bankers in the People's Republic of China ("PRC"). The Board believes that taking into account the amount of accounts receivables to be collected and
existing banking facilities from the Company's bankers in the PRC, the Company will be able to repay the amount claimed by the Bondholder.



http://infopub.sgx.com/FileOpen/FCM_Resu...eID=297280

Hello....... 3Q2014 results shows that it has HK$322m cash and cash equiavent but still to need to 'collect from acct receivables and existing banking facilities' to repay.......

what happens to the cash equivalent???

Is it a problem with accounts?

Last time I remember they also default on convertible due to 'Chinese New Year". Now Mooncake festival....... maybe we will see Halloween soon ^^

(11-09-2014, 04:59 PM)propertyinvestor Wrote: Fung choi just got news that they are in default on one of the bonds

http://infopub.sgx.com/FileOpen/FC_annou...eID=314469


So its not a problem with their accounts afterall...

They have trade payables amounting to 1400HKD million plus existing bank loans of around 577HKD millions which I assume needs to be paid on time too.

Alot will depend on the company's ability to collect debts from their customers

(11-09-2014, 06:29 PM)propertyinvestor Wrote: They have trade payables amounting to 1400HKD million plus existing bank loans of around 577HKD millions which I assume needs to be paid on time too.

Alot will depend on the company's ability to collect debts from their customers

How much is the 9% Bond quarterly interest?


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