Shanghai Turbo

[yeokiwi]

http://www.fzyshcn.com/jizhezhuizong/201...33242.html

知情人士透露，刘明没有其父刘三三那样的胸襟与格局，一心想独揽大局，甩掉资本方。在其任内，常州三维任人唯亲现象严重，公司中层多半都成了刘明的亲戚或亲信，上市公司及其股东难以有效监管。近几年，刘明更是暗地里将公司业务和客户转移至 另一家神秘企业——常州市恒眇精密机械有限公司，利用三维公司的人力、设备和资源为常州恒眇加工订单。“不知名的小企业恒眇挣大钱，上市公司三维反而沦为代工厂，挣些利润微薄的加工费，这其中的猫腻明眼人一看便知!“刘明与上市公司及其股东的矛盾由此加剧。

http://baijiahao.baidu.com/s?id=15760583...der&for=pc

法律界人士指出，占厂工人的野蛮行径己经分别触犯《治安管理处罚法》第二十三条、第四十条；《刑法》第二百九十条“聚众扰乱社会秩序罪”、《刑法》第二百三十八条“非法拘禁罪”。然而时至今日，常州当地警方仍未对涉案人员采取任何强制措施以平息事态。
近四个月来，常州三维新管理层多次请求常州当地警方秉公执法，但得到的回复却是：这是经济纠纷，你们自行协商！
“这就好比你雇佣的保姆强占了你家的房子，然后你报警，警察说，这是你们之间的矛盾和纠纷，你得跟保姆好好谈谈。房子就是我的，房产证也是我的，我还要跟霸占我家的强盗谈，谈什么？这是什么逻辑！”
常州三维新管理层多次求助当地执法无果后，准备强行接管，“因为再这样拖下去，工厂就真的要垮了。”然而就当管理层要采取行动时，却被当地警方反复严厉告诫：不要搞事！

Even the police is also siding the illegal occupants...

[weijian]

http://www.fzyshcn.com/jizhezhuizong/201...33242.html

知情人士透露，刘明没有其父刘三三那样的胸襟与格局，一心想独揽大局，甩掉资本方。在其任内，常州三维任人唯亲现象严重，公司中层多半都成了刘明的亲戚或亲信，上市公司及其股东难以有效监管。近几年，刘明更是暗地里将公司业务和客户转移至 另一家神秘企业——常州市恒眇精密机械有限公司，利用三维公司的人力、设备和资源为常州恒眇加工订单。“不知名的小企业恒眇挣大钱，上市公司三维反而沦为代工厂，挣些利润微薄的加工费，这其中的猫腻明眼人一看便知!“刘明与上市公司及其股东的矛盾由此加剧。

http://baijiahao.baidu.com/s?id=15760583...der&for=pc

法律界人士指出，占厂工人的野蛮行径己经分别触犯《治安管理处罚法》第二十三条、第四十条；《刑法》第二百九十条“聚众扰乱社会秩序罪”、《刑法》第二百三十八条“非法拘禁罪”。然而时至今日，常州当地警方仍未对涉案人员采取任何强制措施以平息事态。
近四个月来，常州三维新管理层多次请求常州当地警方秉公执法，但得到的回复却是：这是经济纠纷，你们自行协商！
“这就好比你雇佣的保姆强占了你家的房子，然后你报警，警察说，这是你们之间的矛盾和纠纷，你得跟保姆好好谈谈。房子就是我的，房产证也是我的，我还要跟霸占我家的强盗谈，谈什么？这是什么逻辑！”
常州三维新管理层多次求助当地执法无果后，准备强行接管，“因为再这样拖下去，工厂就真的要垮了。”然而就当管理层要采取行动时，却被当地警方反复严厉告诫：不要搞事！

Even the police is also siding the illegal occupants...

深层矛盾： 家族企业融资后遗症——做大后，经营方一直想甩掉投资方

Reminds me of the quote that i once read somewhere sometime - "In China, equity investments by foreigners are treated as interest-free loans that never needs to be repaid"

[cyclone]

Request for Trading Halt : Pending for announcement.

[cyclone]

Request for Trading Halt : Pending for announcement.

Shanghai Turbo seeking legal advice on requisition letter

Shanghai Turbo Enterprises Ltd announced that the Board received a requisition letter (with no sender’s address) on 20 October 2017 at 1.10 pm, purportedly from Mr Liu Ming, former Executive Director of the Company, requisitioning an Extraordinary General Meeting to remove the entire Board and to replace with three ex-directors of the Company, Mr Huang Wooi Teik, Mr Kelvin Tan, and Mr Liu Ming, and Ms Pan Haiya, who was Mr Liu Ming’s assistant. 

The Company is now seeking legal advice on the validity of the requisition letter and will make an announcement within three weeks of the date of receipt of the letter. 

On 15 September 2017, the Company has secured a S$30 million injunction from the Singapore High Court against Liu Ming, prohibiting the disposal of his assets in Singapore. Mr Liu Ming is beneficially interested in 8,240,000 ordinary shares of the Company (representing 29.98% voting rights of the Company).

[Gaudente]

I sold this counter over an year ago at 1 $ when I read about the bleak market outlook on their report ...now that the company is actually loss making and with such mess ongoing , it quotes 1.82 $ ...amazing stock market 

[Millionfaith]

I sold this counter over an year ago at 1 $ when I read about the bleak market outlook on their report ...now that the company is actually loss making and with such mess ongoing , it quotes 1.82 $ ...amazing stock market 

 A friend of mine who owns the shares told me someone came knocking on his door to ask if he would like to sell his Shanghai Turbo shares recently. I think the supply and demand pushes up the price.

[weijian]

I sold this counter over an year ago at 1 $ when I read about the bleak market outlook on their report ...now that the company is actually loss making and with such mess ongoing , it quotes 1.82 $ ...amazing stock market 

 A friend of mine who owns the shares told me someone came knocking on his door to ask if he would like to sell his Shanghai Turbo shares recently. I think the supply and demand pushes up the price.

Interesting, is someone behind the scenes trying to take over, or drum up support for future voting events (eg. EGM)? Must be pretty desperate to come knocking on doors to sell, in this e-trade era - reminds of the days of old when takeover wars happened when people held share certs.

[weijian]

2 substantial individual shareholders (5%) have emerged over the last few weeks:

As of 12th Jan 2018:
Lin Chuan Jin - 7.81% http://infopub.sgx.com/FileOpen/_FORM3_L...eID=485119
Zhang Ping - 5.03% http://infopub.sgx.com/FileOpen/_FORM3_Z...eID=485123

Took a look further at recent announcements and Lin Chuan Jin is 1 of the new director candidates for a requested EGM on 4th Jan
http://infopub.sgx.com/FileOpen/STurbo_a...eID=484414

[weijian]

A breather.

Shanghai Turbo granted an ad-interim injunction

19 January 2018 – The Board of Directors (the “Board”) of Shanghai Turbo Enterprises Ltd (the “Company”, and together with its subsidiaries, “the Group”) refers to the announcements on 5 January 2018 with respect to the second Requisition Notice and 18 September 2017 with respect to the Company’s lawsuit against Liu Ming, former Executive Director of the Company, and wishes to update shareholders as follow:

On 17 January 2018, the Court has granted the Company an ad-interim injunction until the adjourned Court hearing, which is to be fixed on a date after 18 March 2018, or any further Order of Court,
a) against Lin Chuan Jun (“Lin”) and Zhang Ping (“Zhang”), restraining them from requisitioning or holding any Extraordinary General Meeting (“EGM”), or any other meetings to remove the current Board and appoint any new persons on the Board.

http://infopub.sgx.com/FileOpen/Shanghai...eID=485827

[CY09]

http://infopub.sgx.com/FileOpen/STurbo4Q...eID=490036

All I can say is "Incredible".

Its full year results has written down on trade receivables and inventories due to a series of events such as the illegal occupants. To turn the company from a low price to book value into a company which is now selling more than its book value

<Side note: Full Apex holdings is another company I am keeping watch on as learning purpose>