Sino Grandness

[kkayleng]

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...

[kkayleng]

If there are obvious "red flags" on Sino Grandness, as pointed out by several for runners, why has SGX not issued a notice of compliance to Sino Grandness as was done for Best World?

[specuvestor]

If there are obvious "red flags" on Sino Grandness, as pointed out by several for runners, why has SGX not issued a notice of compliance to Sino Grandness as was done for Best World?

I presume this is a hyperbole like saying if Singapore police is so good why there are still crimes

[kkayleng]

If there are obvious "red flags" on Sino Grandness, as pointed out by several for runners, why has SGX not issued a notice of compliance to Sino Grandness as was done for Best World?

I presume this is a hyperbole like saying if Singapore police is so good why there are still crimes

Singapore is almost the most safest cities in the world but it does not mean there is no crime. A healthy population does not mean there are no sick men. 
Value investment is risk investment and the need to discern real risk from unsubstantiated caution.  if one is looking for a no risk investment then, a fix deposit in the bank is the nearest equivalent.  

Several of the red flags about Sino has been addressed and clarified by the company of late. The Singapore SGX is carrying out due diligence of the listed companies.

[specuvestor]

“addressed and clarified” like this one? And it’s not even SGX
https://links.sgx.com/1.0.0/corporate-an...uddies.com

NB list in NYSE for a Chinese company with multiple defaults. Really? “Investors” drink any kook-aid that’s being served. SAFE application in Feb 2019. The CFO must be really cluesless on its cash flow projections

[CY09]

https://links.sgx.com/FileOpen/SGFIG%20F...eID=603116

The current market of SFIG is s$12.6 million or RMB 62.6 million.

In the latest balance sheet, SFIG has RMB 3,517 million equity. So its trading at 0.02 times book value

Operating cashflow before working capital changes showed its weakest quarter produces RMB67.2million and full year is RMB 539.2million. Just by one quarter of operating cashflow the company can literally take itself private.

Somehow the company is not doing anything for shareholders to realise value. Its trading at 0.25 times P/E

It is the most undervalued company and possibly the most visible "chicken" that is attempting to "quack" but all parties including the authorities continues to view it as a duck.

[Bibi]

As long as licensed auditors certified that it is a duck and not a chicken, i believe the authorities cant or wont do anything to think otherwise. They believed auditors are qualified and it is their responsibilities to determine whether it is a chicken or a duck which really quacks.

[Curiousparty]

Not sure why such "duck" or "chicken" is still allowed to be around after so many years.

How long will this duck or chicken continue to quack? This duck still wants to be listed in US markets.....quite a DUCK with big ambition !


BTW, is SinoG product still commonly found in supermarkets, 7-11 stores, petrol stations in China?

https://www.youtube.com/watch?v=6FOM0abvMj8

[dreamybear]

It is heartening that SGX is proactively monitoring and "chasing" the company for its loan default update, going by the latest announcement :
https://links.sgx.com/FileOpen/Sino%20Gr...eID=626414  [Response to SGX]

Unfortunately, for all its efforts, it seems SGX's hands are tied : the loans are still outstanding, SAFE approval to repatriate funds yet to be received.

Based on Best World's case as an example, I would have thought this is more serious since "technically" it has "supposedly defaulted" which can be considered risky, but it is still trading.

[¯|_(ツ)_/¯]

another update on default
The Board wishes to update that the Company is still in negotiation with the bondholders on the extension of repayment of the amount due and payable to bondholders. The latest understanding reached with the bondholders that the Company should provide such proposal before 30 September 2020 for the bondholders to consider.
https://links.sgx.com/FileOpen/Update%20...eID=631540

Stay home and stay safe, everyone.