Sino Grandness

[yenyenpark]

Dear Value Buddies,

You refer to this tread, post 1323, 3 years ago on 16th Feb 2016, I cautioned those who debated on "Facts of the S-Chips" and I said: "time will tell". Now the time is coming.

well, those who are good in debate normally don't spend enough time to learn the real skills...

[specuvestor]

https://www.scmp.com/business/banking-fi...rms-expose

Cashflow is a better guage of liquidity. Accounting 101 will say 5% stock bonus and 5% dividend yield is the same but VBs' eyebrows are more sensitive to such things.

[cyclone]

Response to SGX's Query on  Reason why the Company has been unable to meet its obligation to TTA on the loan repayment.

http://infopub.sgx.com/FileOpen/Sino%20G...eID=542047

[Coco]

going by the company reply, I understand it to mean that Sino Grandness does have the $ to repay the loan to the Thais. What is still unclear is why the Thais issued the letter of demand. Were they doing it out of compliance with listing rules or were they uninterested to talk further and really want cash back? Regardless, Sino may be inferred to be able to repay. Let's see.

[desmondxyz]

going by the company reply, I understand it to mean that Sino Grandness does have the $ to repay the loan to the Thais. What is still unclear is why the Thais issued the letter of demand.  Were they doing it out of compliance with listing rules or were they uninterested to talk further and really want cash back? Regardless, Sino may be inferred to be able to repay. Let's see.

Seriously that's your understanding? My impression is the company has everything but real cash....

[TerryT]

Sino grandness defaulted the 15% interest rate payment..... Borrower must be in very desperate position  to accept such rate in the first place....

[specuvestor]

going by the company reply, I understand it to mean that Sino Grandness does have the $ to repay the loan to the Thais. What is still unclear is why the Thais issued the letter of demand.  Were they doing it out of compliance with listing rules or were they uninterested to talk further and really want cash back? Regardless, Sino may be inferred to be able to repay. Let's see.

Seriously that's your understanding? My impression is the company has everything but real cash....

Not everything... now no honorary chairman

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

[corydorus]

Stocks are easily manipulated in forum, rumors, tips etc by syndicates comprising of analyst, money maker, broker, insiders and ...this are real.

When in doubt i will avoid especially s-chips simply there will be other opportunity. If i lose it, this will takes a long time to recover. This are hard earn money. I am also sure some will learn their lesson due to greed so reader beware.

I don't have strong analyst capability but some basic common sense to avoid "Land Mines by Probability" will help a lot in our investing journey.

Cory

[Curiousparty]

More than 200 companies have successfully listed their companies in HKSE in 2018 but SinoG did not manage to do so. In fact, HK has sweetened the deal for companies wanting to list there, e.g. dual-class shares.
https://asia.nikkei.com/Business/Markets...h-listings

The IPO process is detailed under Section 2 at the website below.
https://www.globallegalinsights.com/prac...ercontent2

Not sure how far SinoG managed to go in their "attempt" to get listed in HKSE. If more than 200 companies managed to list in HKSE without much issue, not sure what issues did SinoG encounter? Perhaps, shareholders should get an update from Mr Huang at the upcoming AGM (if the AGM materializes).

[specuvestor]

https://links.sgx.com/1.0.0/corporate-an...uddies.com

Corporate lawyer abandoning ship but stock up 6 spreads... Mr market is right or drunk?

It transpired that the auditor was very confident that company can make dividend payments as long as the holdco has money in 2015, in response to a shareholder's question on how the company which is at a loss can pay RMB12m dividend. Actually should have asked the ID Lawrence Wong as he is a corporate lawyer.

Any professional insights into Companies Act S403?

__________

Dividends payable from profits only

403.—(1)  No dividend shall be payable to the share-holders of any company except out of profits.
[21/2005]

(1A)  Subject to subsection (1B), any profits of a company applied towards the purchase or acquisition of its own shares in accordance with sections 76B to 76G shall not be payable as dividends to the shareholders of the company.
[21/2005]

(1B)  Subsection (1A) shall not apply to any part of the proceeds received by the company as consideration for the sale or disposal of treasury shares which the company has applied towards the profits of the company.
[21/2005]

(1C)  Any gains derived by the company from the sale or disposal of treasury shares shall not be payable as dividends to the shareholders of the company.
[21/2005]

(2)  Every director or chief executive officer of a company who wilfully pays or permits to be paid any dividend in contravention of this section —

(a)

shall, without prejudice to any other liability, be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 12 months; and


(b)

shall also be liable to the creditors of the company for the amount of the debts due by the company to them respectively to the extent by which the dividends so paid have exceeded the profits and such amount may be recovered by the creditors or the liquidator suing on behalf of the creditors.
[15/84; 21/2005]

[Act 36 of 2014 wef 03/01/2016]

(3)  If the whole amount is recovered from one director or chief executive officer he may recover contribution against any other person liable who has directed or consented to such payment.
[Act 36 of 2014 wef 03/01/2016]

(4)  No liability by this section imposed on any person shall on the death of such person extend or pass to his executors or administrators nor shall the estate of any such person after his decease be made liable under this section.

(5)  In this section, “dividend” includes bonus and payment by way of bonus.

http://statutes.agc.gov.sg/aol/search/di...0#pr403-he-.