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from what i see, its been halted for so many days and cannot come out with a firm reply...is a bad bad sign. This did not happen to Olam plus Olam had the backing of the big boys
not sure if anyone read the report...most of the allegations are about ficticious information on the IPO prospectus...non existence of suppliers, customers basically a twig of information inorder to satisfy sgx listing requirements. The report seems to have done all the research inorder to unearth the inconsistencies
This seems like traits that i recognise from personal experience, the just do it mentality and talk later
The research also shows investigation done with the chinese and taiwanese authorities in terms of filing extraction etc....so its hard to knock down unless they have been provided with the wrong infor by the authorities.
To think that GIC was once a large shareholders also point to the fact that GIC investments may not be as watertight as some would think. Also what was SGX doing if all these inconsistencies where from day 1 in the IPO prospectus
Trading if any wld be on Monday,2Sep 13.Can read their finanical report over the weekend.
FearValueGreed ( Date: 29-Aug-2013 14:27) Posted:
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The word consistency is scary.
Means they hv not used to be consistent with past reports.
But importantly we must look forward. If current businesses are true as it is ,even the past has been glorified, it would not be that bad.
Only issue if they continue such tradition like nick leeson did
Means they hv not used to be consistent with past reports.
But importantly we must look forward. If current businesses are true as it is ,even the past has been glorified, it would not be that bad.
Only issue if they continue such tradition like nick leeson did
At least there is light at the end of the tunnel now. Got to see the result first before beting on the %.:)
Peter_Pan ( Date: 29-Aug-2013 13:37) Posted:
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Octavia ( Date: 29-Aug-2013 10:02) Posted:
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If we learn from the " Olam" event, the management will sure come up with some positive news or action before resume the trading. Since it has overly sold down, my guess is 90% will go up once resume. Target above $0.70.
Not sure whether I have the courage and fast enough to trade it that day.
For trading, position should be small as it will be a high risk high gain trade.
Prediction: 70% chance drop another 10-20%
Prediction: 30% chance rise 10-15%
As the short sellers are really in the profit, there is no real need to cover back first. instead some panicky people will dump the stock to get back whatever they can get back...
I think will up first as those short seller got to cover back their position .
My opinion: sell or short immediately on opening. It will just get lower as most are bearish.
because even though halted, there are still people wanting to buy and sell. and the equilibrium price is at $0.60 : D
just like the closing and opening of the stock market. at 8.57am u will see a price but no shares are traded. : )
MrRice ( Date: 29-Aug-2013 12:15) Posted:
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Although the trading has been halted, but im seeing the trade price is at 60cts compared to the halted value at 53cts. Why is that so?
maybe they were busy translating the document for lin guo rong to read : D
Jackpot2010 ( Date: 29-Aug-2013 10:59) Posted:
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BAD n DOUBTFUL = ZERO
Jackpot2010 ( Date: 29-Aug-2013 10:59) Posted:
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Personally, I've mentally prepared for the worst to happen on the 2nd day its shares trading got halted. At least today CMZ say something and as a retail investor I need certainty of whether they will resume trading or get suspended etc. But we never know, may God make a way where there seems to be no way...
Jackpot2010 ( Date: 29-Aug-2013 10:59) Posted:
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Press release this morning create even more doubts about CMZ management. Be prepared for the worst.
CMZ can furnish its detailed defence by end of this week but failure to give an immediate, short point-by-point rebuttal after a lapse of 3 long days is a SUPER bad sign.
It is very unlikely the company will take any legal action.Those chinese companies including Olam targeted by renowned shortist also did not take up the case to court.Going to court will be long drawn and costly.They will do the same thing like Olam coming out with refute report and subsequently drop the legal case against Glaucus as " no assets of consequence have been identified for either party against which claims can be made." Quote Sunny" we are here doing a business" unquote.
alexchia01 ( Date: 29-Aug-2013 10:12) Posted:
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What you want to see is action.
Action like legal proceeding against Glaucus. Getting strong support from big credible companies and fund houses. Share buy back at good price... Etc.
If there is only talk, but no action, then better get out.
Action like legal proceeding against Glaucus. Getting strong support from big credible companies and fund houses. Share buy back at good price... Etc.
If there is only talk, but no action, then better get out.
Octavia ( Date: 29-Aug-2013 10:02) Posted:
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OLAM until now not recover yet .
tostubi ( Date: 29-Aug-2013 09:31) Posted:
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The company is in process of collating the relevant supporting documents and preparing its response, which is expected to be released before the end of the week. Accordingly, the company will extend its trading halt to 5pm, 30 Aug, Friday. Also, China Minzhong has changed its timing for the release of its FYJun13 results from this morning to later this evening. This is to facilitate the verification and confirmation of certain issues highlighted by Glaucus, and to ensure the consistency of information to be set out in the response and the full year results.