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(25-02-2017, 08:44 PM)CY09 Wrote: http://infopub.sgx.com/FileOpen/CFT_ADJU...eID=440848
So in the end, the claims demanded by its customers was to the tune of 470mil RMB, which is more than the cash in balance sheet and 7 times China Fibretech's annual revenue.
For two years worth of products delivered to these three customers, it amounted to such a massive damage!!
<another Foreland case Study>
It is obvious what their intention is. This is akin to ordering food from noodle stall and after eating 5 bowls, one goes up to the stall owner and tell him that his noodles are not up to standard.
There are no good stocks. Stocks are only good when they go up after you bought them.
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30-03-2017, 08:58 PM
(This post was last modified: 30-03-2017, 08:59 PM by weijian.)
Ok, so a little work for the listing fees it gotten from China Fibretech, by SGX. It is interesting what offences under the "Chinese Penal Code" did Mr Wu violated? In the first place, can a complaint actually translate into any enforce-able action?
SGX files complaint with China authorities against Wu Xinhua, Executive Chairman and CEO of China Fibretech
Singapore Exchange (SGX) has filed complaints with authorities in China against Wu Xinhua(吴新华), Executive Chairman and CEO of SGX-listed China Fibretech Ltd (中国光纤有限公司). The complaint was made against Wu in relation to several alleged offences under the Chinese Penal Code. The complaint was filed through lawyers appointed in both Singapore and China who have been advising SGX on the matter since 2016. SGX has also concurrently referred the matter to the Singapore authorities.
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At least SGX is doing something. China will be forced to give some sort of reply. At least his signal the end of close-one-eye policy
Either way I think it will be representative and watershed for the recourse and governance of s-chips
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
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31-03-2017, 09:24 AM
(31-03-2017, 08:53 AM)specuvestor Wrote: At least SGX is doing something. China will be forced to give some sort of reply. At least his signal the end of close-one-eye policy
Either way I think it will be representative and watershed for the recourse and governance of s-chips
I think the Head of SGX regulation seems sincere in leveling up the corp governance of listed companies.. SGX query more. Not just
on trading. Also on results and annc. Thats good.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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i assume you are referring to Mr Tan Boon Gin, that ex CAD guy?
if yes, i have to also agree that he seems to have lived up to that reputation to date.
I would like to invoke the broken window theory in regards to regulation on an exchange. If things are in order and actions of regulators are frequently visible, then those shady fellas will think twice about acting too.
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They have evolve to another form and they could have different symptoms so that is harder for investors to find out their DNA Markers.
I doubt much has changed in accountability. Without it, worthless.
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