Posted by murali > 2016-01-01 09:43 | Report Abuse

Posted by bonescythe > Jan 1, 2016 09:18 AM | Report Abuse

1 day, a fire incident will come and a big portion of cash that is withheld in tye factory will he burned along. Hahaha

Very rare I would agree with Bone Bone..this time with all my hands n legs up....

Posted by murali > 2016-01-01 09:44 | Report Abuse

Posted by 3iii > Jan 1, 2016 09:40 AM | Report Abuse

The company has a lot of cash in its balance sheet. The management should declare yearly dividends, the company has afford to do so. Companies that pay regular dividends impose some discipline on the managers in the way they manage the assets of the true owners, namely, the shareholders.

After talk so much u still believe the cash is there ah???

Posted by Up_down > 2016-01-01 10:30 | Report Abuse

Basically, SC can do nothing so long as external auditor signed off the accounts. The external auditor audited the accounts based on RELIABLE evidence available whether generated from internally or externally to form its view on the accounts. The main problem is the China companies are capable of being too resourceful. They can buy whatever evidence that the auditor needs from third party. so what can external auditor do? Keep quiet and collect audit fees la...haha

Posted by Up_down > 2016-01-01 10:41 | Report Abuse

When the integrity of the management is compromised, audit report, FA, TA, whatever A la. All is useless. Common sense is the most reliable.

Posted by 3iii > 2016-01-01 10:45 | Report Abuse

If you are the auditor for XingQuan, which item in the balance sheet will you focus on? Of course, the cash balance. It is so huge and material. Has the auditor qualified the accounts so far? If accounting fraud blows in the future, perhaps, the auditor will be held accountable and liable.

Posted by Jolly Mypet > 2016-01-01 10:53 | Report Abuse

If one does not have common sense then only cents left lol !

Posted by tpchit > 2016-01-01 10:55 | Report Abuse

cant believed such a scam can still happening now 2015/6

a company claimed to have RM900M in bank or RM3 per share, cant pay dividend but going for RI for chicken sum of RM50M & share price at 63 cts

typical chinamen scam

Posted by RichardD > 2016-01-01 11:00 | Report Abuse

too good to be true.

Posted by Alphabeta > 2016-01-01 11:01 | Report Abuse

I think is for certain, the management really lack of skill to manage its cash stockpile to optimize income. its past three years interest income is consistently at 0.35% of its two years average cash balances. Does this make sense?

Posted by Up_down > 2016-01-01 11:01 | Report Abuse

You want to audit cash balance in the bank? No problem for the bank to give a formal confirmation for 900 million. It is just a paper only ma. Not a big deal. Anyway, a small money can buy a piece of paper worth 900 million in China. Haha

Posted by Alphabeta > 2016-01-01 11:15 | Report Abuse

Remember Satyam scandal....

http://qz.com/379877/the-satyam-scandal-how-indias-biggest-corporate-fraud-unfolded/

Posted by Kh Hoe > 2016-01-01 11:20 | Report Abuse

Should boycott or dun let dis type of company listed in bursa

Posted by Ben Gan > 2016-01-01 12:29 | Report Abuse

China-based stocks are scary!!! Don't look at XinQuan alone, look at all those listed not only in Bursa, but in Singapore and US as well.

Posted by Chinaboleh > 2016-01-01 12:46 | Report Abuse

Why blame them(China-based stocks) only? Do all other stocks(cash rich and profitable) give dividend as well eg Comcorp, Frontkn, etc?

Posted by Ben Gan > Jan 1, 2016 12:29 PM | Report Abuse
China-based stocks are scary!!! Don't look at XinQuan alone, look at all those listed not only in Bursa, but in Singapore and US as well.

Posted by Chinaboleh > 2016-01-01 12:48 | Report Abuse

Some are privatised and relist back in home country since oversea investors don't appreciate them.

Posted by Ben Gan > Jan 1, 2016 12:29 PM | Report Abuse

China-based stocks are scary!!! Don't look at XinQuan alone, look at all those listed not only in Bursa, but in Singapore and US as well.

Posted by Ven Felix > 2016-01-01 12:55 | Report Abuse

没办法了 $$$ 的去向 永远是个问号 ! $ 进入 死胡同。

Posted by mmk79 > 2016-01-01 15:02 | Report Abuse

Doom day for Xinguan is coming after KYY left frustratedly. Good luck to all holders

Posted by Gokula Krishnan > 2016-01-01 15:10 | Report Abuse

most of these china companies are pariyah ones....they have a history of deceit....

Posted by tpchit > 2016-01-01 15:35 | Report Abuse

this scam have the flavor of Transmile, fake cash in bank and invoices

Posted by Ven Felix > 2016-01-01 15:48 | Report Abuse

Ask KYY to employ a biz scandal Detective & legal adviser to invest quietly. China has very good detective . Rather than sitting by not known what yhey try to do with the money , why not spend another few mil. Ti dig in their motives.

Posted by Ven Felix > 2016-01-01 15:54 | Report Abuse

Can't Our Bursa stand out in corncerning the most Malaysian shareholders ? They should hv measured every necessary pro & con before this so call listed on klse and start receiving $$$ rite? Got to go to Bursa protest, otherwise this makan gaji buta fellow will ignoring the minor shareholders benefit. Bring it to another level KYY. Its hard but rather than dying without an answer.

Posted by Ven Felix > 2016-01-01 15:58 | Report Abuse

Its times for those uncle & unties unite together lar to protect their 官财本。

Posted by GODinvest > 2016-01-02 00:40 | Report Abuse

i think all the money arealy in Executive Chairman pocket , like 26b case

Posted by ktsk88 > 2016-01-02 09:14 | Report Abuse

Since the stock still trading at 60+ sen level, time to cut loss rather than left with nothing later is any fraud been exposed.

Posted by murali > 2016-01-02 09:22 | Report Abuse

For retailers they can just cut loss and left easily...but Uncle has stuck too deep into the mud (15% or more shareholdings). He even increased his shareholdings recently.

Unlike VS, Latitude, LiiHen and others, funds (fund managers as well) are following as they do agreed and believed with their fundamentals... thus u see the prices are breaking new high...Unfortunately Koon Koon thought that's due to his personal influence and he again tried to do it on Xinquan.

Now the Co is proposing for a rights issues...Shall Koon Koon follow? If follow then he has to put more fund into it (and stuck more), if dont follow then will see dillution in his shareholdings and also in share price...

Posted by tpchit > 2016-01-02 10:03 | Report Abuse

such scam is not the work of the CEO alone, one team of crooks from directors level to finance team to operations

all work hand-in-hand, all benefited

good job

Posted by Jolin Lai Chi Pet > 2016-01-02 12:17 | Report Abuse

uncle kyy will take the RI, b'cos he still believe the cash pile is real...........

Posted by tpchit > 2016-01-02 12:37 | Report Abuse

if you are small shareholders, just cut losses and walk away

for big stake, hard to walk away, easy to buy but hard to exit as the volume is small, few buyers around

just pray and pray it wont end in PN17 once the real cash dry up

meanwhile continue to grief as long as you are still holding....

miracle .....as good as nil

Posted by Sapphire > 2016-01-02 12:40 | Report Abuse

XINQUAN SO MANY CASH WHY STILL NEED INVESTOR MONEY AGAIN....???CHINA STOCK..BOLEH KE..?JGN KENA TIPU LAGI........AWAK DAH LUPA　ＣＳＬ KE？??/?

Posted by MuttonCurry > 2016-01-02 12:40 | Report Abuse

Actually ks55 already hinted. Your trade payables at all time low ... inventory at record low ... and still want to buy knitting machines kah ? Ask any factory, they will tell u they will only buy if they cannot keep up with demand. Here the opposite is happening with absurd EPS for the Quarter to boot.

Go back to my original question ... how liquid is the cash hoard (assuming it is real ?). That money put in FD would have generated funds to pay dividend but ... wait come back and slap investors with RI some more.

I think the cash hoard has been used as collateral for their misadventures in china stock market. Probably up to their ears in debt. Local china bank also dont want to lend them money.

Strange part of all is that they have been at this game f
or last 5 years going into 6th year. Malaysians are not only senile but patient and forgiving ... but i am not like my countryman.

Posted by murali > 2016-01-02 12:43 | Report Abuse

I think this RI is specially designed for koon koon n friends...

Posted by tpchit > 2016-01-02 12:44 | Report Abuse

after RI RM50 cash and the real cash dry up in a year or 2

the scammers already planned by now, what is their next move, do some fake loans with 3 parties and then their factories suddenly burnt down...

massive write down of assets, impairments and cash in banks, the cash RM900M become negative ...

company went into PN17, delisted

bye bye shareholders, thanks for your money......

Posted by murali > 2016-01-02 12:46 | Report Abuse

Dear mr.koon,cut loss n move on.

Posted by murali > 2016-01-02 12:46 | Report Abuse

Dont bring yr ego when comes to stock mkt.

Posted by Lim Elson > 2016-01-02 13:23 | Report Abuse

first thing in the monday morning... would you cut lose ??? or take profit ??? or still hope ???

Posted by Desa20201956 > 2016-01-02 13:26 | Report Abuse

I have no idea what MrKoon will do.....but the stock will fall minimum 10 % next few days.

Posted by murali > 2016-01-02 13:30 | Report Abuse

I think it may go up...

Posted by Desa20201956 > 2016-01-02 13:39 | Report Abuse

May is a probability.
May says nothing until we see the money.

A lot of shares fall after AGM.....this will also be in line.

Posted by murali > 2016-01-02 13:42 | Report Abuse

Koon koon sell nobody buy...if he push up some people will follow..unless china con con sells

Posted by murali > 2016-01-02 13:44 | Report Abuse

Its now a battle between koon koon n con con...plus some small flies trying to cari makan..

Posted by Jimstock > 2016-01-02 15:12 | Report Abuse

Those machines value no body will know, not even koon's spy the auditor. 99mln for knitting machine??

Posted by SO Tan > 2016-01-02 20:17 | Report Abuse

We will know this coming Monday.

Posted by BenBlurBlur > 2016-01-02 20:31 | Report Abuse

Got con a few times Mr Koon was newbie at 70 is it? Thank u

Posted by DreamMaster > 2016-01-02 23:16 | Report Abuse

Big BoeullShhitter only leihh, that KYY

Posted by asdf > 2016-01-04 06:24 | Report Abuse

This is willing buyer willing seller mkt, why all the fuss?

Posted by goreng_goreng > 2016-01-04 09:31 | Report Abuse

yes but not willing to get conned buyer and willing to con seller. see the different?

Posted by skyz > 2016-01-04 13:31 | Report Abuse

and a day b4, KYY release an article on bragging why he buy XinQuan. the very next day walk out disappointed at the AGM. looks like its his typical modus operandi at work again.

Posted by greatful > 2016-01-04 20:52 | Report Abuse

may be he about to sell off then need to goreng so that got others to buy his portion. when everybody bought, he dump. After dump a lot, he not scare to shoot in AGM. Aiya, this is how he made money from small fishes lo

Posted by kk123 > 2016-01-04 20:54 | Report Abuse

Definitely have to generate volume
Else how to dispose so many shares ?

Posted by veln82k6 > 2016-01-04 20:55 | Report Abuse

KKY start selling liao. Game over for XinQuan..