Koyo International

[ngcheeki]

Probably due to the following announcement

"A small group of individuals was responsible for 60% of the trading volume of koyo shares during this period, of which at least half of these traces were due to this group of individuals buying and selling among themselves"

http://infopub.sgx.com/Apps?A=COW_CorpAn...d48c60e903

[dydx]

A good look at the price/volume chart would suggest that this counter has been manipulated since as far back as Jun14, for over 18 months now. It appears that today's SGX announcement has caused panic among the key players and casual speculators/traders alike to run for the door.

[BlueKelah]

to be manipulating shares in this day and age is kinda stupid, especially in Singapore. Well can't say SGX is not doing its job huh.

[corydorus]

Did SGX pre-empt it. If so, Good Job !

[ZZF]

SBB today. 6.3mil shares bought at high 9cts +

[slowandsteady]

Koyo International trading below net cash of 6.9c based on latest outstanding shares 185,258,497 after 3.3% were bought back last week. Long time independent director Serena Lee also bought 1.5 million shares (0.8%), bringing free float down to 19% for 23% just two weeks ago.

Business looks ok as well, secured order book of $42 million vs order book half year earlier at less than $7 million. Quality customers in Ngee Ann Poly, NTU and AReit.

Guess everyone's worried about stock manipulators. To me, management is not implicated, and they seem to be rather long term guys. The business is real and rather solid (ok, it's boring) and seems miles apart from the famous Asiasons/Blumont/Liongold stocks. But seems to be given similar treatment with the massive crash.

[ngcheeki]

MD Foo Chek Heng is invited for lim kopi session with CAD.


The Board of Directors of Koyo International Limited (the “Company”) wishes to announce that
the Company was informed on 10 February 2016 by its Managing Director Mr. Foo Chek Heng,
that he is being investigated by the Monetary Authority of Singapore (the “Authority”) and
Commercial Affairs Department (“CAD”) of the Singapore Police Force for possible offences
under section 197 of the Securities and Futures Act (Cap. 289).
The Board was informed that Mr. Foo was interviewed by the Authority and CAD and has also
handed over his travel documents as well as certain devices and documents to them.
The Board was informed by Mr Foo that he disputes the allegation by the Authority and CAD,
and that he will cooperate fully with the Authority and CAD in their investigation.
The Board of Directors wish to emphasise that the business and operations of the Company are
not affected in any way by this investigation and will continue as normal.
The Company will monitor the progress of the investigation and will make such further
announcement(s) as appropriate.

http://infopub.sgx.com/Apps?A=COW_CorpAn...rector.pdf

[desmondxyz]

Whether or not FOO is guilty, the fundamental of the company will not changed. Good buy opportunity below cash value now?

[kelvesy]

Desmond, what if the cash isn't there? If anything, stray away from funny companies. If you observe the share movements, you will see somethings.

[BlueKelah]

Yup, evaluation of management integrity also pretty important in my valuations. It's an intangible factor, I based on past management actions such as paying themselves very well and things like dividend history. Once there is history of share manipulation without analyst or catalyst reason then classify it as a playing counter.

This counter is quite obvious what's happening, caveat emptor

Sent from my MotoG3 using Tapatalk