Dapai International Holdings (formerly "China Zaino")

[belgarathc]

Glad I divested early as well.

[Zellion]

If you read d.o.g. earlier articles on Dapai in 2010, he has already pointed out some issues related to Dapai. Thanks d.o.g. for sharing!

Glad I divested early as well.

[Musicwhiz]

Mr. Market is not reacting too well to this rights issue.

As of this writing, Dapai is down 21% to 11c from 14c.

[yeokiwi]

In that case, shouldn't SGX ask Dapai to produce evidence of cash?
If it can sound fishy to us, SGX should be alerted to this right issue.

By allowing the right issue to go through, SGX is allowing more retail investors' money to drop into abyss.

At least, there must be an explanation of why is there a need to raise right issue despite having 100million in the bank.

[Musicwhiz]

In that case, shouldn't SGX ask Dapai to produce evidence of cash?
If it can sound fishy to us, SGX should be alerted to this right issue.

By allowing the right issue to go through, SGX is allowing more retail investors' money to drop into abyss.

At least, there must be an explanation of why is there a need to raise right issue despite having 100million in the bank.

I think it would be tough for SGX to police all rights issues and follow-up on such dubious practices, unless they were alerted to it. Even then, I am not sure of the actions which they can take other than to query the company. Looking at China Milk's situation, I would assume most of these S-Chips Management are unwilling to co-operate, and that corporate governance is but a phrase to them.

Given that we have established the facts, should SGX be alerted? Perhaps SIAS? Someone should write-in to them or the forum pages of TODAY or ST....

[isaac]

Dapai closed at 9c today. Should it trade at or below rights issue price, will anyone in their right minds subscribe?

[isaac]

Closed at 8c today. Should the minority shareholders get sick and sell off their nil paid rights, the underwriting shareholder Chen Xizhong (who owns 50+%) will have to mop up all excess rights, bringing his stake to over 60%.

[yeokiwi]

The chief financial officer has quited.
Reason? To pursue personal interest.

Well..... Many s-chip financial officers like to leave for personal interest.

If I am the shareholder, I will really sweat....

[Musicwhiz]

This usually happens before it implodes.....I mean S-Chips in general, not talking about Dapai specifically.

[belgarathc]

Yes, I sold after reading his postings on Dapai.

If you read d.o.g. earlier articles on Dapai in 2010, he has already pointed out some issues related to Dapai. Thanks d.o.g. for sharing!

Glad I divested early as well.