Martin Lee @ Sg
Sharing is Caring!

Tag Archives for " S-Chips "

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 […]

Continue reading

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 […]

Continue reading

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 […]

Continue reading

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 […]

Continue reading

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 […]

Continue reading