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China Gaoxian Fibre Agony for Shareholders
The price of China Gaoxian Fibre Fabric Holdings is down by almost 50% as it resumes trading from suspension today. The shareholders of China Gaoxian Fibre must be in agony. What can you do when the ex-CEO refuses to come to Singapore for questioning by CAD? Nothing, absolutely nothing. 17 September 2013 Further to the […]
Glaucus Research Issues Rebuttal to China Minzhong but Indofood Offers Takeover
Less than 24 hours after China Minzhong released their refutation to allegations of fraud, Glaucus Research has issued a step by step rebuttal. You can download the report by Glaucus Research on China Minzhong Food here: Glaucus Research Rebuttal China Minzhong Food I must say I’m quite impressed with their speed in examining China Minzhong’s […]
China Minzhong Refutation and Possible Takeover Offer
It looks like the plot has thickened for China Minzhong Food shareholders. Yesterday evening, China Minzhong released a refutation of the allegations made by Glaucus Research. You can download their response below: China Minzhong Response to Glaucus Research China Minzhong Response to Glaucus Research (Annex A-D) China Minzhong Response to Glaucus Research (Annex E-F) China Minzhong Response […]
China Mingzhong Food Suspended After Attack by Glaucus Research
Yesterday morning, short sellers Glaucus Research Group published a report on China Mingzhong Food Corporation, one of the S-chips that is listed on SGX. The report alleged widespread fraud in China Mingzhong including fabricated sales, fake suppliers, attempted cover-up and an inflated capital expenditure. The report can be downloaded here: Glaucus Research on China Minzhong Food […]
Of Zero Earnings and Perpetual Losses
The other day, I heard someone say this: “My company has not been making money. It is just breaking even every year.” Fair enough statement. However, the person went on to say that whenever there is a profit, all of it will be paid to him as director fees. Thus, the company will never show […]