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Fire at China Paper
When I read that a fire at China Paper had destroyed their financial records, I started asking myself many questions. So coincidental, the fire can just burn the financial records and the rest of the premise is unaffected?? So who put out the fire? The fire-brigade or their own staff? If it takes them one hour […]
Fighting Investor-Rights Abuses in China
Yesterday, I read an article on Barron that had an interview with a guy called Dan David who used to be an investor in US-listed China stocks. When Dan first read research reports that were pretty negative about some of these companies, his initial impression was that they were wrong. So he decided to set […]
The Irony of CPF Approved Investments
Under the Central Provident Fund Investment Scheme (CPFIS), we can use the money in our CPF account to invest into certain instruments. One of these includes shares listed on the Singapore Stock Exchange (SGX). In considering the inclusion of shares under CPFIS, the CPF board uses the following criteria: The shares are offered by a […]
More S-Chips Woes
The past week has seen more S-Chip companies make the headlines for the wrong reasons. First, SGX ordered China Sky Chemical Fibre to appoint a special auditor to investigate some of the company’s financial dealings. This was over some repair and maintenance costs of around S$15 million incurred in 2009 as well as some interested […]
Celestial Nutrifoods Money Go Round
The following account submitted by the provisional liquidator of Celestial Nutrifoods shows just how well (and fast) fraudsters can act to move money and assets out of legal shareholders’ reach before they can even blink their eye. I bet whatever “nutrients” is left in the company would have already been sucked dry. An expensive and […]