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I think the most effective option is to get SIAS to act for the shareholders.
To do so, the shareholders must sign up as SIAS member.
The problem is S-Chips the right for court action is not here. Most of the companies are registered outside Singapore.
That's why the rules for prosecution were changed this year for future S-Chips.
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30-09-2014, 03:18 PM
(This post was last modified: 30-09-2014, 03:33 PM by sgmystique.)
Hi Contrarian,
We will approach SIAS if we do not get any response from the SGX to our repeated appeals.
Regards,
(25-09-2014, 09:20 AM)Contrarian Wrote: I think the most effective option is to get SIAS to act for the shareholders.
To do so, the shareholders must sign up as SIAS member.
The problem is S-Chips the right for court action is not here. Most of the companies are registered outside Singapore.
That's why the rules for prosecution were changed this year for future S-Chips.
"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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08-10-2014, 04:01 PM
(This post was last modified: 08-10-2014, 04:03 PM by sgmystique.)
Status Update:
We have not received any response from the SGX to our petition submitted on the 19th September 2014.
We shall be going to the SGX tomorrow (9th October) to submit a reminder.
Please stay tuned for further updates.
Regards,
(20-09-2014, 01:22 PM)sgmystique Wrote: Status Update:
We personally submitted our petition requesting an investigation into the happenings at Foreland to the SGX yesterday (19th Sep 2014). They have promised to take a look at our petition and respond back to us, hopefully by the 3rd October (2 weeks).
We could gather 6 shareholders of Foreland who collectively own slightly more than 2% of equity in the company to sign on the petition. My sincere thanks to hurricane who was the only one from Valuebuddies.com who responded to my appeal to fight the apparent wrong doings at the company 
I was a little disappointed to find a very lukewarm response to my request for fellow shareholders to join in this fight. Either we have been unable to reach out to the right set of people (shareholders of Foreland who as per the AR 2013 number more than 1100) or people have decided to accept the happenings at Foreland without a fight!
Anyways, we have decided to take this quest to get to the truth to a logical conclusion. If any other valuebuddies feel like joining the fight please send me a private message with your e-mail address and contact numbers and I shall respond back asap.
I will keep posting the latest updates and I hope this encourages more people to step forward to set a TERRIBLE WRONG, RIGHT!!!
Regards,
(16-09-2014, 07:54 AM)sgmystique Wrote: Hi Friends,
We have been able to get a few signatures on our petition to the SGX
It is an EARNEST REQUEST TO EVERY SHAREHOLDER OF FORELAND TO COME FORWARD AND SIGN THIS PETITION.
Please pass the word around to those you know. We plan to submit the letter to SGX latest by this Friday (19th September) and as you will appreciate the more support we have the better the impact it will have on the exchange to DO SOMETHING TO PROTECT OUR RIGHTS and BRING THE CROOKS TO THE TABLE!!!
Regards,
"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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08-10-2014, 05:51 PM
(This post was last modified: 08-10-2014, 05:53 PM by Behappyalways.)
Honestly I doubt SGX will respond or even if they respond they would do something positive. They are 'toothless' tiger against Chinese companies so why would they show their 'teeth'........the best way when you 'fucked' things up is to keep quiet.....
That's why I thought one way might be to write to Straits Time Forum to 'force' them to respond. I was thinking yesterday that you guys might want to email Goh Eng Yeow from the Straits Times Money Page. See if he wants to write something on foreland...he has his email address on his articles....
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I think u should set sgx a timeline if u want to pursue this. Dragging further only makes it harder to get the justice you need.
Or u could #occupysgx. (just kidding)
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Thanks Behappyalways for the reference of Goh Eng Yeow. Shall add him to the list of people we can approach for a redressal of our grievances
(08-10-2014, 05:51 PM)Behappyalways Wrote: Honestly I doubt SGX will respond or even if they respond they would do something positive. They are 'toothless' tiger against Chinese companies so why would they show their 'teeth'........the best way when you 'fucked' things up is to keep quiet.....
That's why I thought one way might be to write to Straits Time Forum to 'force' them to respond. I was thinking yesterday that you guys might want to email Goh Eng Yeow from the Straits Times Money Page. See if he wants to write something on foreland...he has his email address on his articles....
"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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Well thor666 we are quiet clear on our approach and we do anticipate that it may take us some time for justice to be served.
We stick to the course of action we have charted out and hope that we can gather more and more support from people like you along the way. Honestly the only chance we small investors have is if move together to shake up the SGX to take care of our interests.
Do send me a PM if you hold any shares in Foreland or you can become one to join this fight!
(08-10-2014, 08:11 PM)thor666 Wrote: I think u should set sgx a timeline if u want to pursue this. Dragging further only makes it harder to get the justice you need.
Or u could #occupysgx. (just kidding)
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"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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Foreland has finally appointed an Independent Reviewer for the decisions management had taken in early 2014. Looks like SGX has been able to make Mr. Tsoi see some reason.
http://infopub.sgx.com/Apps?A=COW_CorpAn...MVin0eUdqU
More about the reviewer BDO LLP can be found below:
http://www.bdo.com.sg/
We were pressing for one of the Big Four firms to do the review. Guess we will have to make do with No. 5.
Thoughts from fellow shareholders of Foreland are most welcome!
"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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