Sino Construction

[Nick]

Controlling shareholder with 71% stake has offered to privatize the Company at $0.03 per share. The Company IPO'ed in June 2008 at $0.390 per share ! The offer is priced at 11.1% premium to the last traded price of $0.027.

http://info.sgx.com/webcoranncatth.nsf/V...2003E365A/$file/Allegro_OfferAnnouncement_final28Dec12.pdf?openelement

(Not Vested)

[Stockerman]

this is epitome of S-chip companies run by crooks!

[wsreader]

The market price first fall below 3 cents per share (cps) on 23 Oct 2012. Since then, only about 3.9mil shares were transacted, all below 3cps. These shares constitue 0.58% of total shares issued (the company has no treasury shares), so shareholders holding the other 99.42% of shares all lose money.

There is one Liu Zhi Qiang who paid 12cps for about 85.3mil placement shares in May 2012 but sold out at 3cps on 28 Dec 2012, a loss of about $7.6mil in 7months.

Who would have imagined the china construction concept play could end up in such a massive loss?

(Not Vested)

[Traumfanger]

Anyone still looking at this company? Recently it has shifted its focus to be the largest non state owned coal player

Sent from my Nexus 5 using Tapatalk

[CityFarmer]

I hope no buddies trapped. As usual, I am always skeptical on any "diversification" story, while failed on its core biz...

(not vested, and no interested at all)

Sino Construction shares crash as company expects 2014 loss

SINGAPORE (March 3): Shares of Sino Construction ( Financial Dashboard) tumbled as much as 72.6% in early trading, extending their 56% decline yesterday, after the company sought more time to release its financial results and said it expected to incur a 2014 net loss.

At 9:39am (0139 GMT), the stock was down 45.3% at 6.4 cents, with some 18 million shares traded. It reached a low of 3.2 cents earlier.

According to a Feb 27 regulatory filing, Sino Construction has been granted an additional month by the Singapore Exchange to release its 2014 results as the management team and executive directors who presided over the company in 2014 had stepped down last month.

Drew Madacsi, the only executive director left on the board, was appointed only on Feb 9 and needs more time to finalise the financial statements, the filing said.

The results will be announced by April 1.
...
http://www.theedgemarkets.com/sg/article...-2014-loss

[CityFarmer]

Actions speak louder than words, for the shareholders...

(not vested)

Sino Construction shares sink further after key investors pare stakes

SINGAPORE (March 13): Shares of Sino Construction ( Financial Dashboard) have taken more beating, declining as much as 21.7% today and up to 32% this week, even after a spectacular two-day fall at the start of the month that wiped more than $260 million off its market value.

The latest selloff followed a series of disclosures on March 10 that two shareholders had substantially pared their stakes in the company.

Edward Lee Ewe Ming now owns just 4.3% of Sino Construction, down from more than 22% at the start of the month, while Zhang Yan Min's interest has whittled down to 4.2% from 12.6%.

Their shares were held by financial institutions and sold via off-market transactions, according to regulatory filings.

The sales were carried out just a few days after the company said it would return to its core construction trade and review all transactions related to its foray into the minerals sector last year.

The decision to head back to its legacy business came only a few months after the company sold its China-focused construction unit, citing tough business conditions.

Its remaining exposure to the construction business is in Malaysia, where it is building a RM43.2 million ($16.4 million) commercial development in Kota Kinabalu that will include a bus terminal.
...
http://www.theedgemarkets.com/sg/article...are-stakes

[brattzz]

this is epitome of S-chip companies run by crooks!

3 years on, and it happened!

[CityFarmer]

Finally the report, and not as bad as expected...

(not vested)

Sino Construction reports 2014 loss of $2.7 million

SINGAPORE (March 25): Sino Construction ( Financial Dashboard), which last month requested for more time to release its 2014 results, has turned in a net loss of $2.7 million, substantially less than its $28.6-million loss in 2013.

The weaker performance in 2013 was largely due to its China construction business, which it sold late last year.
...
http://www.theedgemarkets.com/sg/article...27-million