Posted by ganneeneh > 2014-09-30 12:17 | Report Abuse

Well, you may be right that those Fujian officials were 'bribed' so that Xinquan can transfer their books to Bahamas and get listed elsewhere.

But hey, Xinquan was listed in 2010 and I am pretty sure those greedy Fujian officials were paid in Xinquan shares well before 2010 so as to enabled them to "green lighted" the transfer of book to Bahamas, right?

So far in my working memory I cannot point out any government official that took bribes and was willing to hide those payment (the Xinquan shares) for 4 to 5 years and don't realise the actual cash from the sale of those shares. And sell them only when Xinquan is at its lowest price

Posted by ganneeneh > 2014-09-30 12:20 | Report Abuse

More so, selling them now when President Xi Jinping was hard on corruption now. How dare you steal when all the kampung folks were catching the thief?

So I don't think your theory of those Fujian officials cashing the shares now hold any water lah

Posted by ganneeneh > 2014-09-30 12:23 | Report Abuse

As to whether Xinquan shares can recover from present level is anyone's guess. I am no Warren Buffet, so do you.

Posted by rc15 > 2014-09-30 13:46 | Report Abuse

I believe in kyy....or his great grandchildren....

Posted by rc15 > 2014-09-30 14:23 | Report Abuse

Good support at 0.53

Posted by ct888 > 2014-09-30 17:20 | Report Abuse

Fellatar, thx for sharing.
Wat u say is a general scenario which does not apply for Xinquan. Xie paid for the 10 % shares in May then sell 3 mths later. If this is a bribe, then it would be much easier for the boss to just pay him cash undertable n nobody know rather then expose his identity by buy (or given free) then sell in such short time.
There r 3 possible reasons- (a) xie discover something bad which no others discover, (b) he is in urgent need of cash, or (c) he collaborate with the boss to press down the price.
I would (c) is most likely. Xie just join 3 mths ago, is not likely he can gain access to inside info. If he is in urgent need cash, he may offer his share for outside private deal at discount rather than dump them in market.

Posted by ct888 > 2014-09-30 17:30 | Report Abuse

Xinquan is so illiquid that any major shareholder want to dispose major bulk of the shares in market would be sucidal. More than 80% shares still with major holders.

Posted by ct888 > 2014-09-30 17:42 | Report Abuse

Looks like Xie & co has achieved their purpose, after xie's sell down quite some panic holders also follow

Posted by ct888 > 2014-09-30 17:44 | Report Abuse

But if u keep eye on bursa announcemt, no other major holders follow suit to sell

Posted by ganneeneh > 2014-09-30 21:18 | Report Abuse

True, the ONLY major seller is Xie Zhidong and no one else for Xinquan mother shares

Posted by fellatarjonga > 2014-10-01 10:13 | Report Abuse

I thought only those who has more than 5% of the paid-up have to inform Bursa on your disposal? ct888 can be a 55% shareholder of Xingquan through 20 proxies with a spread of 2.75% can be selling everyday and need not inform Bursa on his sale. Is this true or otherwise? Maybe professionals like ganneeneh, ct888 can throw some lights into this.

Posted by ct888 > 2014-10-01 11:45 | Report Abuse

Fella, pls check the single top holder alone, the boss, holds more than >55%, others like mellon bank, kyy, poh lin, ricky, +, all holds above 5%. So is sure the top guns for xq all didnt dispose.

Posted by ct888 > 2014-10-01 12:00 | Report Abuse

Looks like Xie is in action again, he still has some to throw b4 he downgrades to <5% Holder. After that he might just stop as i guess his sole purpose is to instil the fear factor so that his gang can pick up shares cheaply.

Posted by cariyoyo > 2014-10-01 12:24 | Report Abuse

I noticed that the thread on Xingquan attracted a few dedicated commentators recently. I was reading felltarjonga's comment on the 5% mandatory announcement by Bursa Malaysia. Fellatarjonga is right that shareholders like KYY can be selling all his shares without having to inform Bursa. I remember that KYY holds his shares through himself, Kon Cze Yan (his daughter who is a medical doctor previously working in England), Yap Sung Pang, Tan Kit Pheng (KYY's wife) and Tan Kit Yew (Kit Peng's younger sister). The spread among the five of them are viz:-

KYY 4.57%
YSP 2.50%
KCY 1.30%
TKP 1.30%
TKY 0.49%
Total 10.16%

KYY placed his holdings just under 5% because he doesn't want to go through the hassle of informing Bursa as and when he buys or sells. This was what he told his remisier who is also his nephew.

But personally I do no think he has sold any of his Xingquan shares. His average price is above RM1.30. Surely he is not Xie Zhidong. There is only three holders who are above 5% mark i.e. Xingquan's owner, New York Mellon and Xie. We know Xie is selling but who are the buyers???

What fellartajonga commented on China's business modus operandi is generally true but not necessarily be applied by Xingquan.

To be honest, I have no idea what is going on with Xingquan now. But if they persist not paying dividend then you do not need to hazard any more guesses because the money is simply not there.

My two cents worth.

Posted by ct888 > 2014-10-01 13:17 | Report Abuse

Thank you Cariyoyo for your detailed info.

Posted by ct888 > 2014-10-01 13:28 | Report Abuse

Anyway, the boss, mellon n Xie alredi makes up >70%. Less other big shots add up >10%, less those long term holders (who bought >>rm1 now no eye see), less brokerage hse holdings, the trading share portion maybe 5% or less.
This is a small cap with issued shares 300,000K+ only.
Very illiquid so Xie throwing few thousand K can dump down the price, like he did two previous rounds

Posted by talkrealreal > 2014-10-01 16:00 | Report Abuse

So who is the ONE mopping all Xie's throwing?

Posted by saltedfish > 2014-10-01 18:43 | Report Abuse

Wikileaks lah dude

Posted by Steven Yong > 2014-10-01 19:29 | Report Abuse

Low can only get lower. See you below 0.50

Posted by saltedfish > 2014-10-01 20:24 | Report Abuse

No way lah死地晕溶

Posted by rc15 > 2014-10-02 06:44 | Report Abuse

Wiki leak also intend to leave his xinquan shares to his grandchildren ah...just .like kyy?

Posted by rc15 > 2014-10-02 06:56 | Report Abuse

Or wiki leak intend to work with kyy to push down the prices n then privatise it n share the cash among themselves?cash per share rm1.60++......yum yum..-.kyy cost is ard rm1.50+ too...this could be the only way for him to recover his Hugh loss....off course.....provided the cash really exist in their account in China......amen.....

Posted by saltedfish > 2014-10-02 07:39 | Report Abuse

By your analogy, KKY's cost is around $1.50 and wikileaks' at current market price of $0.55, that's almost full $1 apart. Do you think wikileaks need to kowtow with KKY's or anyone else in this case?

Posted by speakup > 2014-10-02 07:42 | Report Abuse

KKY is a multimillionaire, his investment in Xinguan is only a small fraction of his wealth.

Posted by saltedfish > 2014-10-02 07:44 | Report Abuse

Dato Wu and his sister and brother owned almost 70% of Xinquan and they are not selling a single share. They will be the world''s biggest fool for not selling out Xinquan shares if the cash really isn't there, right?

Posted by saltedfish > 2014-10-02 07:48 | Report Abuse

That 70% stakes of Xinquan is worth $127m at current market price. If they have walloped the $600m cash of Xinquan, don't you think they will also cashing out this $127m stakes as well?

So far, none is happening. And you are only speculating based on other red chips past bad examples

Posted by saltedfish > 2014-10-02 07:50 | Report Abuse

Rc15, the ancient Chinese has a word of wisdom for you : 不要以一竿打沉一船人

Posted by Steven Yong > 2014-10-02 08:20 | Report Abuse

See you at 0.50 today

Posted by naughtygirl > 2014-10-02 10:06 | Report Abuse

Nah

Posted by rc15 > 2014-10-02 11:01 | Report Abuse

The reason why Dato Wu is not selling his 70% stake could be due to they are unable to find another KYY loh....there are lots of water fish here but can hardly find big and rich water fish who could buy 5% or 10%....

Posted by rc15 > 2014-10-02 11:04 | Report Abuse

Who are the fools selling Xinquan all the way down from RM1.70+ to the current RM0.50++? Dont they know the company is so "great"????

Posted by speakup > 2014-10-02 11:06 | Report Abuse

better not touch red-chips.
the best ones are listed in Hong Kong & USA.
the bad ones are listed in Malaysia & Singapore.

Posted by rc15 > 2014-10-02 11:09 | Report Abuse

Actually simple lah...just set a dividen policy, say min RM0.10 dividen per year then can goreng the price to Rm1.50 to RM2.00 (Div yield 5-6%) then lots of people will chase....then propose a rights issue to trap more people....

Posted by rc15 > 2014-10-02 11:19 | Report Abuse

Ops sori..to attract more people...typo error....

Posted by saltedfish > 2014-10-02 11:28 | Report Abuse

Nonsense argument rc15

Posted by saltedfish > 2014-10-02 11:29 | Report Abuse

First you cursed KYY and now you praised KYY for being the "big water fish" for Dato Wu. Real joke you are putting up

Posted by rc15 > 2014-10-02 11:33 | Report Abuse

Is it a praise to KYY for being the big water fish? hmmm....I think Kyy begs to differ...

Posted by saltedfish > 2014-10-02 11:33 | Report Abuse

In a stock trade, there is always a buyer and a seller to complete a transaction. We know now that the seller is Xie Zhidong as he has been disclosing his disposal. But where is the BIG buyer that is mopping up all of Xie's shares? He has yet to surface, so hold your opinion until you have all the facts in front of you, in order to make a fair comment

Posted by saltedfish > 2014-10-02 11:36 | Report Abuse

Whatever posted here without getting the answer of the remaining 50% of the truth (i.e. the Big Buyer's identity) are then just mere gossips and craps

Posted by rc15 > 2014-10-02 11:36 | Report Abuse

Do you mean there is still hope on this company and KYY still got chance to recover his hefty paper loss one day?

Posted by saltedfish > 2014-10-02 11:40 | Report Abuse

Whether KYY can recoup his paper loss on Xinquan is none of my concern

Posted by saltedfish > 2014-10-02 11:41 | Report Abuse

And to put an abstract ending that Xinquan still has hope is premature.

Posted by rc15 > 2014-10-02 11:42 | Report Abuse

OK.Hope that Wikileak can rescue the co and also it's share prices...

Posted by saltedfish > 2014-10-02 11:43 | Report Abuse

Savvy Xinquan investors like Richard Koh Kin Lip and Lai Ming Chun who are also the major shareholders of IOI are no small cats like you and me. Do you think they don't know what is happening in Xinquan?

Posted by saltedfish > 2014-10-02 11:44 | Report Abuse

Who know they may be the buyers now mopping all of Xie's shares?

Posted by rc15 > 2014-10-02 11:45 | Report Abuse

And also KYY too...maybe he will buy another 10% to do down averaging...reducing his holding cost from RM1.50+ to RM1+....

Posted by saltedfish > 2014-10-02 11:47 | Report Abuse

And professional fund managers like Bank of New York Mellon and Kas Bank Effectenbewaarbedri JF of Norway who each owned 7.29% and 1.46% in Xinquan don't care if the RM600m plus is there or not? Come on lah

Posted by rc15 > 2014-10-02 11:51 | Report Abuse

Are they going to buy more at these level? Just like all other savvy investors such as Richard Koh,KYY, Wikileaks etc?

Posted by TanSriDato > 2014-10-02 11:55 | Report Abuse

Saltedfish, I have been following your postings and I must say today's is the best comments you have made. Syabas!

Posted by TanSriDato > 2014-10-02 11:55 | Report Abuse

Full of rationale and reality