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这 支 是 , 置 至 死 地 ， 而 后 生 的 股 票 呀 。 再 看 一 看 三 年 后 的 展 望 如 何 吧 ！
Anyone know where is Hulumas now?
I miss her so much :)
warrenbegger ( Date: 10-Apr-2012 21:56) Posted:
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Info for those vested.
Source: Singapore Law Watch 25.6.2012
Former China Sky Chemical Fibre executive director sued over unpaid bank loan
Huang Zhong Xuan, former executive director and CEO of China Sky Chemical Fibre, has been accused of defaulting on a $7.5 million loan from a bank. The bank has filed a lawsuit against Huang and three guarantors, including his wife, in the High Court to seek the return of the amount owing. The plaintiff, HL Bank, has applied for a Mareva Injunction from the High Court to prevent the defendants from selling or dissipating their assets in Singapore.
As this application was submitted in chambers, the lawyers representing the bank declined to reveal any information surrounding this application. Therefore, the outcome of the application remains unknown. However, it is understood that High Court Justice Choo Han Teck has approved some items in the application.
Apart from Huang Zhong Xuan, the three other parties listed as defendants in this case are Rock Mart Equities Ltd (a British Virgin Islands-registered company), Huang Liyun (Huang Zhong Xuan's wife) and China Sky Chemical Fibre non-executive chairman Cheung Wing Lin. The three defendants are guarantors to the loan taken out by Huang from HL Bank. Cheung, 44, is also the legal representative of Quanzhou Tianyu Chemical Fibre and Weaving Co Limited. The company is a core subsidiary of China Sky. The counsel for the plaintiff noted that Huang Zhong Xuan and Huang Liyun hold Chinese citizenship and Singapore permanent resident status.
HL Bank obtained the approval of the High Court to mail the legal documents, including the writ of summons, to the registered address of Rock Mart in the British Virgin Islands. It also obtained approval to mail copies of the documents to the registered addresses of the three other defendants in Quanzhou city in China's Fujian province. However, it remains unclear whether the defendants ultimately received these papers. As of now, none of the defendants have submitted their defence.
According to the writ of summons submitted by HL Bank, it approved a stock margin loan capped at $10 million applied by Huang Zhong Xuan in October 2010. The bank sent a letter to Huang on 29 November last year to seek the return of the more than $7 million he owed the bank. However, Huang refused to repay the sum.
HL Bank then sent letters seeking the repayment of the loan from Rock Mart, Huang Liyun and Cheung Wing Lin on 18 January this year. However, these efforts also failed. The bank subsequently brought the matter to the High Court.
Dear my love,
I had warn U long time ago but U don't listen.
It seem like U buy what and what suay one will kanna bomb, U still alive?
*I miss U,
*From your cute warrenbanana :)
warrenbegger ( Date: 16-Sep-2011 23:10) Posted:
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MAS seeks to freeze ex-China Sky CEO's funds
04:46 AM Apr 10, 2012
SINGAPORE - The Monetary Authority of Singapore (MAS) is seeking a court order to freeze the funds of Mr Huang Zhong Xuan, the former chief executive officer of China Sky Chemical Fibre, which is being probed for regulatory breaches.
The MAS wants to prevent Mr Huang, a Chinese national, from taking or sending money out of his Credit Suisse Group account in Singapore as China Sky and its directors may be fined as a result of the probe, according to papers filed with the Singapore High Court on March 28.
A closed hearing is scheduled for tomorrow.
The regulator's move is the latest in a series of disputes the Chinese nylon-fibre maker and its directors have had with the Singapore authorities.
China Sky and its board are being investigated by the Commercial Affairs Department (CAD) for potential breaches of securities laws after " a number of irregularities" were uncovered by the Singapore Exchange, according to the court papers.
Mr Huang, who quit as CEO on Feb 8 for what he called " personal health reasons" , and China Sky were unavailable for comment.
Mr Huang had transferred about US$10 million (S$12.6 million) out of the bank account on March 5, and on March 27 gave instructions to move the remaining US$3.7 million, according to the filing.
The CAD is examining possible offences, including making false and misleading statements, as well as failing to disclose material information.
Such offences may be punishable with a criminal fine of up to S$250,000 and a jail term of as long as seven years, or a fine of up to S$2 million as a civil penalty. BLOOMBERG
The MAS wants to prevent Mr Huang, a Chinese national, from taking or sending money out of his Credit Suisse Group account in Singapore as China Sky and its directors may be fined as a result of the probe, according to papers filed with the Singapore High Court on March 28.
A closed hearing is scheduled for tomorrow.
The regulator's move is the latest in a series of disputes the Chinese nylon-fibre maker and its directors have had with the Singapore authorities.
China Sky and its board are being investigated by the Commercial Affairs Department (CAD) for potential breaches of securities laws after " a number of irregularities" were uncovered by the Singapore Exchange, according to the court papers.
Mr Huang, who quit as CEO on Feb 8 for what he called " personal health reasons" , and China Sky were unavailable for comment.
Mr Huang had transferred about US$10 million (S$12.6 million) out of the bank account on March 5, and on March 27 gave instructions to move the remaining US$3.7 million, according to the filing.
The CAD is examining possible offences, including making false and misleading statements, as well as failing to disclose material information.
Such offences may be punishable with a criminal fine of up to S$250,000 and a jail term of as long as seven years, or a fine of up to S$2 million as a civil penalty. BLOOMBERG
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AnthonyTan ( Date: 19-Mar-2012 09:37) Posted:
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The company is in full of shits. In my opinion, I really doubt
trading resume soon. According to SIAS, no shareholders have
approach them for assistance.
Hulumas ( Date: 18-Mar-2012 15:14) Posted:
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I never like to touch S-Sick stocks no matter how good it is
recommended by analysts. Stocks are listed in Singkapor and all
businesses operations are in China. What's happening
in China, you will get the news very much later. Any adverse
news, the shareholders in China will definitely run faster than
shareholders in Singkapor. This is my view point.
bryancbq ( Date: 18-Mar-2012 22:51) Posted:
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why are you always so optimistic? haha.
Hulumas ( Date: 18-Mar-2012 15:14) Posted:
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Unlikely to Relist so early. CAD arrested 1 Director, his passport compounded & accs delayed to 30.4.12 etc etc. IF & When relist, px may fall to 1c (down from pre-suspension 10c).
Business Times - 17 Mar 2012
Former independent director Lai Seng Kwoon wonders why he has become a key character in the saga
By LYNETTE KHOO
THE former China Sky Chemical Fibre independent director (ID) who was recently picked up by the white-collar crime police insists he has been cooperating with the authorities 'from day one' of his serving on the board of the controversy-riddled S-chip.
Lai Seng Kwoon - for whom China Sky is not the only troubled company he's been a director of - told The Business Times that he cannot understand why he has become a key character in the thickening plot.
He went on to say that he has nothing to hide and that, in fact, he is in favour of the company commissioning a special audit.
'I don't know why my role has attracted so much attention,' Mr Lai said. 'I think there's just too much attention placed on me.'
He says his 15-year-old son is wondering why his father was arrested.
Mr Lai confirmed that he was at the Commercial Affairs Department (CAD) office last week and had his passport impounded. The white-collar crime unit has not charged him.
When the media had asked if Mr Lai had been arrested or charged, a police spokesman had said it was inappropriate to comment, citing ongoing investigations.
It is believed that Mr Lai was questioned over the accounting-related services that his accounting firm, SK Lai & Co, provided to China Sky from 2008 to 2010 while he was chairing the audit committee (AC) of the board.
These services are deemed interested party transactions (IPTs) as Mr Lai was an ID and head of the AC of China Sky. The transactions raised questions over Mr Lai's independence as an ID and whether there was a potential conflict of interest given that as the AC chairman, he was in a position to review his own firm's work.
'From day one, I have been cooperating. Whatever information they want, I have always given them (SGX),' Mr Lai said. 'There's nothing to hide. The transactions are genuine. We were the only locals here whom they (SGX) can communicate with.'
China Sky reported in its fiscal 2010 annual report that it paid $300,000 and $173,000 respectively for these IPTs in fiscal 2009 and 2010. But when queried by SGX, China Sky said these values were overstated as it included other non-related fees and adjusted them to $183,000 in 2009 and $72,000 in 2010.
Now, these IPTs are among the transactions that SGX wants special auditors to probe into. China Sky's failure to appoint a special auditor, however, has led to a continued suspension of its shares and the resignations of its IDs and some executive directors.
Mr Lai said that he believed a special audit was the best way to clear his name and that of another former ID, Er Kwong Wah, who was on the board of China Sky when the IPTs were approved.
'If there was any attempt to hide any transaction, why would you want to overstate and attract attention? You would put a lower number,' he added. 'It's also very stretching to think that I would stake my licence, my professional reputation and integrity for $100,000.'
Lawyers have reportedly said that one area the CAD could be looking at is Section 203 of the Securities and Futures Act (SFA), which makes it an offence for listed companies to intentionally or recklessly fail to disclose to SGX any information required under listing rules. Offenders can be fined up to $250,000 or jailed for up to seven years, or both.
The fate of China Sky's two other former IDs, Mr Er and Yeap Wai Kong, remains unclear. All three IDs are believed to have been questioned by the CAD in relation to its probe into China Sky regarding potential breaches of the SFA.
Mr Lai now no longer sits on the board of any S-chip company but stressed that his 'track record' shows how he has stayed behind in most cases to aid restructuring and facilitate communication between SGX and the company.
'At Oriental Century, the company went down, we stayed back, we tried to do a RTO (reverse takeover) about two years with no pay,' he said. 'Finally, we couldn't meet the timetable. I put the company into liquidation, paid off a substantial portion of the debts.
'For China Milk, I went in after they got into problems, not before. We helped out, facilitated the special audit report and now it is under liquidation, so there's some closure. Same for Celestial and China Sun, we stayed back all the way.'
He noted that he has had no problems being an ID of any S-chip until his 'efforts were misunderstood and mischaracterised' in the case of China Sky.
Mr Lai reiterated that the IDs were out-voted by the executive directors on the resolution to appoint a special auditor.
'If every time we are out-voted, we raise our hands, it throws the whole workings of the board into disrepute. It is messy if every time a director is out-voted, you make an announcement,' he said.
Asked if he would still want to sit on the board of any more S-chips when the dust finally settles around China Sky, he quipped: 'Are there even going to be any more S-chips (in future)?'
Trading resume soon!
Jackpot2010 ( Date: 22-Dec-2011 13:45) Posted:
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Chia-lat.....NO chance to exit unless DELIST from SGX.
http://info.sgx.com/webcorannc.nsf/AnnouncementLast3Months/57B0CD470E43C3114825796E00012756?opendocument
" DECLINE OF COMPANY'S REQUEST FOR LIFTING OF TRADING SUSPENSION
Having regard to the circumstances of the suspension, including the persistent non-compliance with the Exchange’s direction to the Company to appoint a special auditor, the Exchange declines the Company's request to lift the suspension at the present time."
(SGX 22.12.11)
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warrenbegger ( Date: 14-Oct-2011 23:26) Posted:
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U know one la.
LOL!
Hulumas ( Date: 14-Oct-2011 20:03) Posted:
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?
warrenbegger ( Date: 13-Oct-2011 21:20) Posted:
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Don't worry, i will take care of U.
Don't forget your promise :)
Ice-cream...
Hulumas ( Date: 13-Oct-2011 20:51) Posted:
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?
warrenbegger ( Date: 12-Oct-2011 23:28) Posted:
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S-Chick is cute...
These s-sick (S-chip) stock have confusing names, hahaha.
Why like tat.
China Sky is NOT the same company as SKY CHINA. The latter is having audit trouble but this got nothing to do with China Sky. Not vested - better avoid both though.