Good volume yesterday but will it hold? This is another one of those undervalued counters like Msports. But I think Xinquan has more potential for capital gains, if only because its volume and interest are generally much better. Let's see whether there is still interest in it next week.
Mat, don't be silly like pig ok. A co is hopeless when cash is higher than share price. If it is so good, those Private equity already come in. Only pig value this company.
Seriously klcoh, the reason why a PE firm cannot buy over this company is because the majority shareholder is not some investment bank that is only interested in the short term share price of the stock. It wouldn't sell to the PE firm at it's current price
xingquan has been falling since august 2010 from the high of RM1.90 to RM0.755. Xingquan has yet to show recovery despite having a few prominent individuals as shareholders. They are Koon Yew Yin, Rickoh, Lai Poh Lin and a few others. I have no idea as to why these individuals got attracted to Xingquan but I am definitely sure they not buying it to lose money. The main issue with Xingquan was that they have so much cash but unable to frank out good dividends. This shows that either the money that they bragged about is fake or they are just plain stingy. However, if the owners are interested to see the price up, they should be franking dividends to attract investors. Why they are not?
While Xingquan announced 2 sen dividend, it is way below the previously assured 20% of its annualized profit. This has somehow irked shareholders. The other issue which raised suspicion on Xingquan was the sudden change of its brand name from Addnice to Gertop, where they have to spend extra-ordinarily more money to promote the new brand. This simply doesn't make sense. Perhaps Gertop is going to be a better name than Addnice which they have been using the past 20 years or so. The other main issue was the amount of outstanding receivables which they have yet to manage to collect. The receivables can be very tricky as they can cause the company to go down. But I believe it can be deliberate so related party or parties can make money out of shareholders. All Chinese stocks listed in Bursa are trading below PE and this is definitely strange.
i think if the earning per share is still rm0.69 and the stock price is rm0.02, may be it is SAFE to buy this lousy fishy counter, and why don't the securities check the amount of money it claimed it doposited in banks in china. can't they just do that please!!!
yes, koon yew yin and a few of his relatives are shareholders of xingquan. however, this would not ensure the steady rise of its price due to lack of dividends and apparent lack of interests from local investors on chinese stocks. rickoh, a major shareholder of coastal is a shareholder of xingquan too. a director of ioi, madam lai poh lin is also holding quite a fair bit of xingquan.
yes, the same mr. koon i meant. he is holding xingquan through his wife, daughter, nephew and close associates. the names are tan kit pheng, tan kit yew, yap sung pang, kon cze yan, david snashall .
common, what sort of good investment into xingguan sports except sports shoes, bags.. these are not sound investment nor public demands. Silly to put money into this stock
This is one of some China companies listed in Malaysia. My understanding is, as long as Security Commission approves, any companies could be listed in KLSE.
Anyone knows China companies listed in Singapore now trading at what PE? Do China shoes companies listed in HK still trading at PE 8-9x today? Is there China shoes companies listed in Singapore? Thank you!
i have just went through the annual report of xingquan. i have noticed that koon yew yin, reputable investor who encouraged investors to pick jaya tiasa recently has more than 10.16% through his self, daughter, koon cze yan, other family members like tan kit peng, tan kit yew and yap sung pang. for some reasons, koon yew yin thinks xingquan is a winner. having said that, koh kin lip, a major shareholder of coastal contracts is also holding substantial portion in xingquan. the other prominent shareholder is lai poh lin, a director of ioi. my question is what they see in xingquan that we don't?
i'm buying some now as it went much below its IPO price. Surplus cash. Zero debt. High EPS, low PE. Good business model as everyone need footwear and they have whole china population to market. Not to mention outside China. Local well know investor in it and they have bought from much higher price.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ctwcandy
200 posts
Posted by ctwcandy > 2012-02-15 13:52 | Report Abuse
this counter got potential too..can look for it