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China Sports Intl. - CALL FOR ACTION! Post Reply Rate topic
lsj840428 Senior	08-Apr-2011 20:51        lsj840428 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	to answer your question about who will be the next potential candidate to be suspended, i would suspect those listed below 1) sinopipe 2) sinotech fibre 3) sky china petrol 4) china kunda 5) china newtown 6) china xlx merely my own digging to share, dont take it for granted....do your own due diligence when reading forum from others warrenbegger      ( Date: 08-Apr-2011 20:05) Posted: Just this year 1Q already 3 S-chip kanna suspended, till now still dont know what really happen,  with some S-chip also into trouble soon. Hongxing and Hongwei fundamental look ok but kanna too. Gaoxian fundamental even better, super low PE, recent dual list and even give out some dividend before krx listing but also kanna suspended. We still dont know what really cause the suspension but i think many invest in them sure angry and cant sleep well with their hard earn money jam inside for nothing. Because many trust GX so much and even load when it fall below 0.2, load and load then all kanna burn. No chance to run, straight away halt for 3 day and suspended. And what about those S-chip scandal from 2006 till now, how many kanna burn till dont recognise their mother or wife. Base on %, S-chip is far more problem than local. S-chip every  15  around 1 got problem, local 100 around just 1, and local we still can find those management/company here. S-chip where u want to find? Fly there yourself ah? I didnt said all S-chip r rubbish, u can still invest in them but just dont whack too much as risk is really very high. Many S-chip is just like time bomb, u just dont know when it will explode, it just halt + suspend very long(if u need $ how, find ah long ah?). But so many S-chip scandal in history till now had badly burn many investor, but many still dare to play, as they like cause it their $. When they kanna, they just said why they so unlucky, why company like that, why? How to take back $? Can sue or not? Where that company and CEO?Where? I also got play S-chip but lucky didnt burn by any, and i dont whack a lots in them cause i know it risky. But if i play again, i just dont know when will kanna me? How  i know? No one know?  Who want to be the next S-cheat jackpot winner? Who next???  GuavaXF30      ( Date: 08-Apr-2011 08:53) Posted: We have to be careful not to lump all China companies in the same club. Like for now, seems like all companies involved in sports goods are out of favour after the HongXing surprise. But than again, was it really a surprise ? Did they not have news floating around even as far back as a year ago? Having said that, I personally would lay off ChinaSports. Not enough of fundamentals to provide security. And even less if the inof shown below is correct. More cash in bank than valuation ? Does not make any sense at all
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Metallicus Member	08-Apr-2011 20:43        Metallicus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gentleman. To be clear. The annual general meeting in China Sports has the last 3 years been held on April 28/28/27th. The company will issue the agenda to the AGM on April 11th (if consistent with the past). The temperature was high during last years AGM, but unorganized. That was the problem. For the ones of you who are not familiar with our rights, I refer you to the Bermuda Companies Act of 1981:  http://www.bermudalaws.bm/Laws/Consolidated%20Laws/Companies%20Act%201981.pdf This law is intact, barring the company's bye-laws. This is not hard. 1. we have to organize. 2. we have to get a hold of the second largest shareholder (Orkla - quite the large company according to my bloomberg, which should be inclined to promote such activities by e.g. hiring a lawyer and paying for advertisement costs ++, 3. we table a resolution at the AGM. 4. The vote is passed by simple majority. 5. We get paid SGD 0.10.  4. The company continues operating as if nothing has happpened. Simple, easy and with limited downside.
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warrenbegger Elite	08-Apr-2011 20:34        warrenbegger About Contact  Quote this Post!   Mood: Yells: "Anyhow Buy Anyhow Die ^_^"
x 0   x 0  Alert Admin	I agree, those auditor must really dig more deeper and clearer. But  some S-chip  had been audit and pass for many times and years, and suddenly just come a halt with suspend. BOMB! All die. I also got play S-chip myself, i just want others to know it high risk, and dont whack/mau too much to avoid gone case. And i can see some new investor out there kanna burn badly for nothing(some PM me to ask me what to do liao), cause no one tell them what the risk, they just follow what other call, the next multi bagger. Hisk risk high return  with suspended % odds. lsj840428      ( Date: 08-Apr-2011 20:19) Posted: First of all, if wan to invest, nvr ever use ur bread n oil money to invest, that will only make you feel even more stressful and discouraged when shit happened..... since the time i get myself in share market, i have been trading s-chips....90% of my trades are through S-chips.......i knw there are risk associated with those s-chips and it is damn high, like wat u mentioned below, we damn don knw when will they get halted or suspended subsequently...but u nid to know one simple theory in share market => high risks high returns ......before u decided to go in, just need to tell urself, can u digest those risks.....if cant, better dont....... and one thing worth noting is among three of the suspended counters, they are using the same auditor.......have u ever thought about that why would they discovered only now that their cash value indicated in their balance sheet cant b justified? they have been their auditor for the while.....why only now they refuse to sign the financial report?? big question mark?? not to say this must be something to do with the auditors, not least not now....until other auditors do the same thing to other s-chips using the same reason being, then it would be time to be more cautious.....   but i do always hope that those auditors can do their due diligence to perform the job like to dig deeper about the cash value of other counter to verify them to make us feel more comfortable to invest in them..... warrenbegger      ( Date: 08-Apr-2011 20:05) Posted: Just this year 1Q already 3 S-chip kanna suspended, till now still dont know what really happen,  with some S-chip also into trouble soon. Hongxing and Hongwei fundamental look ok but kanna too. Gaoxian fundamental even better, super low PE, recent dual list and even give out some dividend before krx listing but also kanna suspended. We still dont know what really cause the suspension but i think many invest in them sure angry and cant sleep well with their hard earn money jam inside for nothing. Because many trust GX so much and even load when it fall below 0.2, load and load then all kanna burn. No chance to run, straight away halt for 3 day and suspended. And what about those S-chip scandal from 2006 till now, how many kanna burn till dont recognise their mother or wife. Base on %, S-chip is far more problem than local. S-chip every  15  around 1 got problem, local 100 around just 1, and local we still can find those management/company here. S-chip where u want to find? Fly there yourself ah? I didnt said all S-chip r rubbish, u can still invest in them but just dont whack too much as risk is really very high. Many S-chip is just like time bomb, u just dont know when it will explode, it just halt + suspend very long(if u need $ how, find ah long ah?). But so many S-chip scandal in history till now had badly burn many investor, but many still dare to play, as they like cause it their $. When they kanna, they just said why they so unlucky, why company like that, why? How to take back $? Can sue or not? Where that company and CEO?Where? I also got play S-chip but lucky didnt burn by any, and i dont whack a lots in them cause i know it risky. But if i play again, i just dont know when will kanna me? How  i know? No one know?  Who want to be the next S-cheat jackpot winner? Who next???
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lsj840428 Senior	08-Apr-2011 20:19        lsj840428 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	First of all, if wan to invest, nvr ever use ur bread n oil money to invest, that will only make you feel even more stressful and discouraged when shit happened..... since the time i get myself in share market, i have been trading s-chips....90% of my trades are through S-chips.......i knw there are risk associated with those s-chips and it is damn high, like wat u mentioned below, we damn don knw when will they get halted or suspended subsequently...but u nid to know one simple theory in share market => high risks high returns ......before u decided to go in, just need to tell urself, can u digest those risks.....if cant, better dont....... and one thing worth noting is among three of the suspended counters, they are using the same auditor.......have u ever thought about that why would they discovered only now that their cash value indicated in their balance sheet cant b justified? they have been their auditor for the while.....why only now they refuse to sign the financial report?? big question mark?? not to say this must be something to do with the auditors, not least not now....until other auditors do the same thing to other s-chips using the same reason being, then it would be time to be more cautious.....   but i do always hope that those auditors can do their due diligence to perform the job like to dig deeper about the cash value of other counter to verify them to make us feel more comfortable to invest in them..... warrenbegger      ( Date: 08-Apr-2011 20:05) Posted: Just this year 1Q already 3 S-chip kanna suspended, till now still dont know what really happen,  with some S-chip also into trouble soon. Hongxing and Hongwei fundamental look ok but kanna too. Gaoxian fundamental even better, super low PE, recent dual list and even give out some dividend before krx listing but also kanna suspended. We still dont know what really cause the suspension but i think many invest in them sure angry and cant sleep well with their hard earn money jam inside for nothing. Because many trust GX so much and even load when it fall below 0.2, load and load then all kanna burn. No chance to run, straight away halt for 3 day and suspended. And what about those S-chip scandal from 2006 till now, how many kanna burn till dont recognise their mother or wife. Base on %, S-chip is far more problem than local. S-chip every  15  around 1 got problem, local 100 around just 1, and local we still can find those management/company here. S-chip where u want to find? Fly there yourself ah? I didnt said all S-chip r rubbish, u can still invest in them but just dont whack too much as risk is really very high. Many S-chip is just like time bomb, u just dont know when it will explode, it just halt + suspend very long(if u need $ how, find ah long ah?). But so many S-chip scandal in history till now had badly burn many investor, but many still dare to play, as they like cause it their $. When they kanna, they just said why they so unlucky, why company like that, why? How to take back $? Can sue or not? Where that company and CEO?Where? I also got play S-chip but lucky didnt burn by any, and i dont whack a lots in them cause i know it risky. But if i play again, i just dont know when will kanna me? How  i know? No one know?  Who want to be the next S-cheat jackpot winner? Who next???  GuavaXF30      ( Date: 08-Apr-2011 08:53) Posted: We have to be careful not to lump all China companies in the same club. Like for now, seems like all companies involved in sports goods are out of favour after the HongXing surprise. But than again, was it really a surprise ? Did they not have news floating around even as far back as a year ago? Having said that, I personally would lay off ChinaSports. Not enough of fundamentals to provide security. And even less if the inof shown below is correct. More cash in bank than valuation ? Does not make any sense at all
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lsj840428 Senior	08-Apr-2011 20:06        lsj840428 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	to be honestly, sometimes it really doesnt make any sense......I am a degree holder in mechanical engineering.....i do not hold a financial or business degree, but i do realize that if u r having confident in ur own business and having faith in your company, now it is time to accumulate some shares to be treasury shares....one of the s-chips who was doing this is Sunvic, keep buying at the low......   by reducing the outstanding shares, at the same time, u r increasing the value of NAV.....not too sure how is their CFO manage the cash, i even suspect if the CFO has any certificate in related field........during the AGM, i think we shld raise the question to their CFO, at least ask them what are they plan to do with their cash.........i do not actually wanted them to distribute a greater amount of dividend, but at least they do something to increase the market value..... Hhavnen      ( Date: 08-Apr-2011 16:53) Posted: The Chinese sportswear sector is out of favor. S-chips have been out of favor for several years. Clearly, you cannot generalize all companies - some SGX listed Chinese sportswear companies will not have falsified bank statements and have control of accounts receivables. It is worth noting that  all sportswear companies are generating profits (even though margins are softening) and working capital is bound to stabilize at some point. For arguments sake, let's assume that the cash is in fact sitting in the bank. If we pressure management (which several of us are considering...) for an extraordinary dividend (during the AGM or during a SGM in aftermath), I would like to see anyone find a better mutlibagger than CSPORT. +100% dividend yield. The share price should immediately rally (pre-dividend payment) as this  implies that the cash is actually in the bank. Also, we are not bankrupting the company, as it will be left with more than ample cash to continue its profitable operations. It is sometimes necessary to educate mgmt " the hard way," and I believe the time is ripe for that now.
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warrenbegger Elite	08-Apr-2011 20:05        warrenbegger About Contact  Quote this Post!   Mood: Yells: "Anyhow Buy Anyhow Die ^_^"
x 0   x 0  Alert Admin	Just this year 1Q already 3 S-chip kanna suspended, till now still dont know what really happen,  with some S-chip also into trouble soon. Hongxing and Hongwei fundamental look ok but kanna too. Gaoxian fundamental even better, super low PE, recent dual list and even give out some dividend before krx listing but also kanna suspended. We still dont know what really cause the suspension but i think many invest in them sure angry and cant sleep well with their hard earn money jam inside for nothing. Because many trust GX so much and even load when it fall below 0.2, load and load then all kanna burn. No chance to run, straight away halt for 3 day and suspended. And what about those S-chip scandal from 2006 till now, how many kanna burn till dont recognise their mother or wife. Base on %, S-chip is far more problem than local. S-chip every  15  around 1 got problem, local 100 around just 1, and local we still can find those management/company here. S-chip where u want to find? Fly there yourself ah? I didnt said all S-chip r rubbish, u can still invest in them but just dont whack too much as risk is really very high. Many S-chip is just like time bomb, u just dont know when it will explode, it just halt + suspend very long(if u need $ how, find ah long ah?). But so many S-chip scandal in history till now had badly burn many investor, but many still dare to play, as they like cause it their $. When they kanna, they just said why they so unlucky, why company like that, why? How to take back $? Can sue or not? Where that company and CEO?Where? I also got play S-chip but lucky didnt burn by any, and i dont whack a lots in them cause i know it risky. But if i play again, i just dont know when will kanna me? How  i know? No one know?  Who want to be the next S-cheat jackpot winner? Who next???  GuavaXF30      ( Date: 08-Apr-2011 08:53) Posted: We have to be careful not to lump all China companies in the same club. Like for now, seems like all companies involved in sports goods are out of favour after the HongXing surprise. But than again, was it really a surprise ? Did they not have news floating around even as far back as a year ago? Having said that, I personally would lay off ChinaSports. Not enough of fundamentals to provide security. And even less if the inof shown below is correct. More cash in bank than valuation ? Does not make any sense at all. warrenbegger      ( Date: 07-Apr-2011 23:26) Posted: I said in another way. If the company management dont value or reward shareholder the right way, invest other company that worth it:) If they keep hugh pile of cash and dont reward out or do something to improve the company fundamental, pls make sure the cash they said is there, if not run far far:
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Metallicus Member	08-Apr-2011 18:53        Metallicus About Contact  Quote this Post!
x 0   x 0  Alert Admin	hmm,,, I own a few CSPORT shares. Horrible investment. Know what they did,,, In January, 2010 they had an equity offering of 100 mill to fund expansion of a newly won contract with FIFA. The company had secured exclusivity to sell and distribute FIFA products all over China. For non-company specific reasons the deal later fell though. Did they return the money back to the shareholders? NO! Come on!! Auditors are careful when signing off on the cash balances these days - chances are that the money is there. How do we get our hands on this money? Thoughts? Maybe we should start a facebook page!?! Good thread. I'm in. (angry Sing-investor!)
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Hhavnen Member	08-Apr-2011 16:53        Hhavnen About Contact  Quote this Post!
x 1   x 0  Alert Admin	The Chinese sportswear sector is out of favor. S-chips have been out of favor for several years. Clearly, you cannot generalize all companies - some SGX listed Chinese sportswear companies will not have falsified bank statements and have control of accounts receivables. It is worth noting that  all sportswear companies are generating profits (even though margins are softening) and working capital is bound to stabilize at some point. For arguments sake, let's assume that the cash is in fact sitting in the bank. If we pressure management (which several of us are considering...) for an extraordinary dividend (during the AGM or during a SGM in aftermath), I would like to see anyone find a better mutlibagger than CSPORT. +100% dividend yield. The share price should immediately rally (pre-dividend payment) as this  implies that the cash is actually in the bank. Also, we are not bankrupting the company, as it will be left with more than ample cash to continue its profitable operations. It is sometimes necessary to educate mgmt " the hard way," and I believe the time is ripe for that now.
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GuavaXF30 Master	08-Apr-2011 08:53        GuavaXF30 About Contact  Quote this Post!
x 0   x 0  Alert Admin	We have to be careful not to lump all China companies in the same club. Like for now, seems like all companies involved in sports goods are out of favour after the HongXing surprise. But than again, was it really a surprise ? Did they not have news floating around even as far back as a year ago? Having said that, I personally would lay off ChinaSports. Not enough of fundamentals to provide security. And even less if the inof shown below is correct. More cash in bank than valuation ? Does not make any sense at all. warrenbegger      ( Date: 07-Apr-2011 23:26) Posted: I said in another way. If the company management dont value or reward shareholder the right way, invest other company that worth it:) If they keep hugh pile of cash and dont reward out or do something to improve the company fundamental, pls make sure the cash they said is there, if not run far far:) lsj840428      ( Date: 07-Apr-2011 23:20) Posted: now we are not discussing about if there are something smell fishy in the company, but we are gather vote here to urge the management to do something with the huge pile of cash.......unless the cash shown in the balance sheet is falsified, otherwise they do give explanation what are they intend to do with that cash? for those western country, those counters with huge pile of cash usually do share buy back to improve the nav or eps in the future..........but they dont even mention about this share buy back program.....this is something really make me agitated......
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warrenbegger Elite	07-Apr-2011 23:26        warrenbegger About Contact  Quote this Post!   Mood: Yells: "Anyhow Buy Anyhow Die ^_^"
x 1   x 0  Alert Admin	I said in another way. If the company management dont value or reward shareholder the right way, invest other company that worth it:) If they keep hugh pile of cash and dont reward out or do something to improve the company fundamental, pls make sure the cash they said is there, if not run far far:) lsj840428      ( Date: 07-Apr-2011 23:20) Posted: now we are not discussing about if there are something smell fishy in the company, but we are gather vote here to urge the management to do something with the huge pile of cash.......unless the cash shown in the balance sheet is falsified, otherwise they do give explanation what are they intend to do with that cash? for those western country, those counters with huge pile of cash usually do share buy back to improve the nav or eps in the future..........but they dont even mention about this share buy back program.....this is something really make me agitated...... warrenbegger      ( Date: 07-Apr-2011 22:47) Posted: If the company something wrong, just dont touch it. Play other counter that worth your investment :)
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lsj840428 Senior	07-Apr-2011 23:20        lsj840428 About Contact  Quote this Post! Style: Combined   Mood:
x 1   x 0  Alert Admin	now we are not discussing about if there are something smell fishy in the company, but we are gather vote here to urge the management to do something with the huge pile of cash.......unless the cash shown in the balance sheet is falsified, otherwise they do give explanation what are they intend to do with that cash? for those western country, those counters with huge pile of cash usually do share buy back to improve the nav or eps in the future..........but they dont even mention about this share buy back program.....this is something really make me agitated...... warrenbegger      ( Date: 07-Apr-2011 22:47) Posted: If the company something wrong, just dont touch it. Play other counter that worth your investment :)
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warrenbegger Elite	07-Apr-2011 22:47        warrenbegger About Contact  Quote this Post!   Mood: Yells: "Anyhow Buy Anyhow Die ^_^"
x 0   x 0  Alert Admin	If the company something wrong, just dont touch it. Play other counter that worth your investment :)
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k3n888 Member	07-Apr-2011 22:42        k3n888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	What are the steps to take to make this resolution to the next AGM?  I'm in.  This company is not even planning to invest those extra cash to make it more profitable and grow it's market price.  Current share price is pathetic.
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Hhavnen Member	07-Apr-2011 22:26        Hhavnen About Contact  Quote this Post!
x 0   x 0  Alert Admin	Agree with you, lsj840428. What IS on their mind! Granted corporate activism is not as common in Singapore as e.g. in the West, minority shareholders do have many powerful tools. For instance, only 5% of the issued shares outstanding is required to propose a resolution to be included to the agenda to the forthcoming AGM for an extraordinary dividend (according to the Bermuda Companies Act of 1981, where the company is incorporated). Given no capex, no dividends and its current cash generation operations, the company can easily operate on just half of its current cash balance. That equates to SGD 0.09-0.10 SGD per share in special dividends to the shareholders (above today's closing price). Such a resolution, when being voted on, is classified as an " ordinary resolution" and will require a simple majority. The main shareholder only owns 30%, the rest being held by Orkla (?) and Singaporean retail investors. My point, it's not that difficult to pressure the Board and management of China Sports...
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Bon3260 Supreme	07-Apr-2011 22:13        Bon3260 About Contact  Quote this Post! Style: Technical   Mood: Yells: "Ooo Ooo Aaa Aaa!"
x 0   x 0  Alert Admin	Sell when rebounce... ('',)
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lsj840428 Senior	07-Apr-2011 22:10        lsj840428 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	agreed, though i am just a very minor shareholder of this counter..............y the company keep such a huge cash flow.....if they are not willing to distribute a greater amount of dividend, then i would suggest them to do share buy back to push the market price higher........what is in their mind? Hhavnen      ( Date: 07-Apr-2011 21:11) Posted: China Sports Intl (ticker: CSPORT) has a market cap of SGD 82 million and a net cash balance of SGD 173mill. On its cash balance, the company earns less than 0,5% interest. Dividends and proposed capex plans are miniscule. A substantial extraordinary dividend payment is called for, though not realistic without the outcry from fellow minority shareholders. Current shareholders of China Sports... let's organize in preparation to the forthcoming annual general meeting in late April. Our interests are clearly not inline with that of the management team and the actions, or lack thereof, of the company's Board of Directors are highly questionable.   Reach out!
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Hhavnen Member	07-Apr-2011 21:11        Hhavnen About Contact  Quote this Post!
x 0   x 0  Alert Admin	China Sports Intl (ticker: CSPORT) has a market cap of SGD 82 million and a net cash balance of SGD 173mill. On its cash balance, the company earns less than 0,5% interest. Dividends and proposed capex plans are miniscule. A substantial extraordinary dividend payment is called for, though not realistic without the outcry from fellow minority shareholders. Current shareholders of China Sports... let's organize in preparation to the forthcoming annual general meeting in late April. Our interests are clearly not inline with that of the management team and the actions, or lack thereof, of the company's Board of Directors are highly questionable.   Reach out!
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