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sgmystique
I think you missed my point. You are talking about remedy for this particular transaction; whereas I am asking since the management quality is poor, how can they be trusted to carry out day-to-day business transactions in the interest of shareholders? You can't have external agencies watching over them.
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(13-02-2015, 01:01 PM)sgmystique Wrote: What has happened is very clear, we just need to find out how far is the SGX ready to go to ensure that ordinary shareholders like you and me are not taken to the cleaners and squeezed out dry time and again!
Sorry. I am going to be blunt and [/b]ask you a qn which may upset you.
Do you share your profit from the stock market with SGX?[b]
If your ans is NO, then why are you asking them to ensure that such things dont happen?
i had my fair share of holding shares in companies that engage in fraud/suspicious activities. The value of my investment dropped by >90%.
But i have never for once felt that it was SGX's reponsibility to prevent such things from happening. By the way, such things are happening in most if not all the markets around the world. So do you see any stock market being able to ensure that ordinary shareholders are not taken to the cleaners?
There are no good stocks. Stocks are only good when they go up after you bought them.
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(13-02-2015, 06:29 PM)level13 Wrote: Sorry. I am going to be blunt and [/b]ask you a qn which may upset you.
Do you share your profit from the stock market with SGX?[b]
If your ans is NO, then why are you asking them to ensure that such things dont happen?
i had my fair share of holding shares in companies that engage in fraud/suspicious activities. The value of my investment dropped by >90%.
But i have never for once felt that it was SGX's reponsibility to prevent such things from happening. By the way, such things are happening in most if not all the markets around the world. So do you see any stock market being able to ensure that ordinary shareholders are not taken to the cleaners?
level13, thanks for bringing up the point you have made. I appreciate that I don't directly share my profits or my losses with the SGX. However every stock exchange has market regulatory responsibilities towards the market participants.
Just because day light robbery happens on the stock exchange does not make it any less of an offence. It is the general mentality in the market that one just let's such fraudsters go scot free. Yes, it might be difficult to bring these criminals to justice but I am sure the SGX has a fiduciary responsibility towards the investors on the exchange. How far they are able to fulfill that responsibility is to be seen...
All I am saying is let the SGX/ MAS/ CAD do the necessary investigations and figure out if there has been any wrongdoing. If yes, please punish the criminals and make sure of setting an example which perhaps makes future plunderers think twice before going ahead with their plunder...
"You are right not because the world agrees or disagrees with you, rather you are right because your facts & reasoning are right."
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Am seeing some signs of life in this counter after a very long wait. Let's see if the increased volumes and prices are due to some fundamental change in the business or is it a quick short term opportunity taking advantage of the reduction in Mr. Tsoi's stake?
Only time will tell...
(22-06-2015, 08:20 AM)Behappyalways Wrote: Disposal of shares
http://infopub.sgx.com/FileOpen/_eFORM1V...eID=356797
"You are right not because the world agrees or disagrees with you, rather you are right because your facts & reasoning are right."
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I was in love with Foreland, but it is very difficult to fall back in love with somebody who has jilted you so badly...
All I can say is that the only source of value in the company is the intrinsic value of the land and productions facilities that it owns. As you may remember when the cash coffers were emptied, the land and production facilities were also severely devalued. If this accounting stunt can be reversed at least some of the remaining value in the company can come back on paper. You might be aware that both the settlement of the compensation claim as well as the devaluation of assets are being investigated by BDO LLP.
As I said let's see how this pans out...
(23-06-2015, 07:52 PM)Behappyalways Wrote: I think you are falling in love. It might be good to re-read your messages and make a RATIONAL decision. Ironically Tsao made a rational decision. He is leaving the party after the 'cake' (if there is in the first place) is gone.
(23-06-2015, 05:35 PM)sgmystique Wrote: Am seeing some signs of life in this counter after a very long wait. Let's see if the increased volumes and prices are due to some fundamental change in the business or is it a quick short term opportunity taking advantage of the reduction in Mr. Tsoi's stake?
Only time will tell...
(22-06-2015, 08:20 AM)Behappyalways Wrote: Disposal of shares
http://infopub.sgx.com/FileOpen/_eFORM1V...eID=356797
"You are right not because the world agrees or disagrees with you, rather you are right because your facts & reasoning are right."
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(24-06-2015, 08:17 AM)Behappyalways Wrote: Tsoi sold 30% stake for $1m. So Foreland's cap is around $3-4m. Most probably nothing left in company. He is just selling an empty shelf. The new shareholder will probably consolidate the shares and then issue RIGHTS. Well you might have to come out with $$$ again.
Personally I don't think there will be a rights issue, but rather a reverse take over (RTO) by asset injection in exchange for shares. Existing shareholders will be severely diluted, though it could be argued that they have already lost pretty much everything already.
I noted the red flags in this company way back in June 2011, over 4 years ago, in this very thread. At that time there were forum members who were quite enthusiastic about the company and its management. By September 2012 I had already raised the possibilities that Mr Tsoi was an idiot, in severe personal financial straits, or conducting a fraud.
I hope the cheerleaders from back then managed to get out in time, as my negative conjectures and gloomy (realistic?) views have sadly been proven right.
As usual, YMMV.
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