Posted by elpinchegringo > 2014-03-03 13:15 | Report Abuse

Fam Genny, What were the three reasons the auditor was replaced?

I'm not trying to make you mad. Like you I'm interested in understanding the company and making a profit. You say "the performance of the company is the best of the best in terms of current price." I agree and that's exactly my concern. Why is this company so cheap? Is there something others know that you and I don't? Is this a case of people being paranoid because of many bad experiences with Chinese companies with overseas listings? Is the paranoia justified in view of the insider selling and change of auditor?

The new auditor, RT LLP, is unknown outside of Singapore. They are affiliated with BKR International, which describes itself as a "global accounting association." Looking at their web site, solo practitioners (firms consisting of single accountants) are members of this "global accounting association." Price WaterhouseCoopers it ain't. Yes it's headquartered in the USA. My educated guess is that Bernie Madoff's accountant could have jointed this association if he had wanted to.

Posted by jennifersoon > 2014-03-03 13:37 | Report Abuse

Elpin: best posting in 2014. no doubt.

Posted by cpng > 2014-03-03 13:38 | Report Abuse

转贴  
Another singapore listed china company bites the dust...Eratat Lifestyle makes soles, shoes and clothing. On it's financial records it state that it has 577 million RMB in in's bank accounts. This amount was verified by the auditors & board of directors on January 2014 via the following. 1. Personal visit to Agriculture Bank of China and get print out from the bank system from the Branch Manager 2. Login and checking of the amount in the online banking system 3. Letter of confirmation of the amount in the accounts from the bank Due to the missing workers and the CEO. The interim CEO makes further probes into the bank account found that the cash reported is not in existence. The share is currently suspended and awaiting special audit.

Fair warning to high cash holding, super profitable, super cheap PE 1-2x, china based small caps...
Never ever touching those china dolls...they are sucking your XXX

Posted by nagachan > 2014-03-03 13:48 | Report Abuse

CPNG, you can touch china dolls but just don't touch Chinese listed companies out of China

Posted by jennifersoon > 2014-03-03 13:54 | Report Abuse

no wonder there is a blogger here speculating worth rm0.01 .......

Posted by jennifersoon > 2014-03-03 13:56 | Report Abuse

cpng: don't equate Chinese companies with Chinese dolls.....please respect female like me. OK?

Posted by cpng > 2014-03-03 14:01 | Report Abuse

Yaya...Reality china dolls,you send $$$ ,at least you get sometimes in return...

Posted by Fam Jenny > 2014-03-03 14:57 | Report Abuse

ELpin,if your mother commits adultery does it mean my mother also commits the adultery,no right.The former auditor of HBGlobal made a whoha about the cash was missing,the price tumbles and under pn4 then they went for special audit and found the cash and revealed it was bcos of not able to ascertain the value of stock, not missing cash,is a mistake now.
I have seen the Photostat copy of the fixed deposit certificate and somebody posted the website of the certificate recently for viewing if I am not mistaken.The company exercised the sbb recently and so far had paid dividend to its sharehoders but earlier some nasty nuts accused them that they never didn't have the money to back the shares and proven untrue again.
CSl has a factory with over 1000 workers and their business is still healthy and intact,its co is not shaky like that the one you have mentioned.
Many degrees here are affiliated with overseas universities and still creditable,so why can't the present one be of good standing if our degrees are recognised.
The CSL price was RM1.80 at the beginning and not 20c,it was battered down to this price bco 1) manipulation by selling at high volume at one go to buyers to unstablilsed the price.
2)with negatve propagandas to create doubts.
3)oversupply of shares due to force selling.
4)Giving good opportunities for Mr CF to buy cheap now.
Conclusion:CSL is kept as a prisoner by groups with agendas known to themselves.I only invest in valuable shares and I don't mind it doesn't appreciate now.

Posted by local > 2014-03-03 15:26 | Report Abuse

elpin & jennifersoon sound like ah duk & 126 !!!

Posted by local > 2014-03-03 15:38 | Report Abuse

If you all got the proof of their ( CSL) wrong doing , why not report it to the police or appropriate authority!? we as an investor or shareholder will appreciate you more .......so please go and do it ASAP lah.....

Posted by Fam Jenny > 2014-03-03 16:04 | Report Abuse

CSl is steady when compares with other shares which are tumbling down and many are carrying the babes,hope is only a correction in the index.

Posted by mengcourt > 2014-03-03 17:12 | Report Abuse

You guys betul betul at each others throat, eh. nice to read your comments though.

Posted by Darren Kho > 2014-03-03 17:14 | Report Abuse

Agree with you mengcourt :D

Posted by honeycomb > 2014-03-03 20:38 | Report Abuse

It's high time both proponents and opponents leave the market forces to determine the price of this stock. Sing within the confines of your bathroom at home so that you can hear clearly your own voice.

Posted by Fam Jenny > 2014-03-03 21:58 | Report Abuse

Local, I completely agree with you, comment objectively and truly, not simply bark like Shareprofit,shame on all the liars,trouble-makers,slanderers!You are not welcome to bullshit here.

Posted by Fam Jenny > 2014-03-03 23:41 | Report Abuse

Sharepofit,you are a rascal simply bark,refer to pg 253 for your record.

Posted by CheeBy > 2014-03-04 06:14 | Report Abuse

Simple. Under current Ukraine crisis longterm players got nothing to worry. Fundamentals strong sleep well . Contra players sorry for you ...Remember Syria crisis on chemicals usage accusation, market free fall after that fast recovery..

Posted by elpinchegringo > 2014-03-04 06:42 | Report Abuse

My Story
Prostitute for Profit
By Elpinchegringo

Dear Jenny,

Who my mother sleeps with is no business of yours. Just kidding.

Providing an analogy like you did, Mr. Wu, a Chinese man, wined and dined me. He wasn’t the prettiest to look at, his face was scarred with acne and he was fat. But he promised me the moon – dividend yields of 25%, a growing company with low debt, lots of cash, high ROIC and a very, very low P/E. My momma didn’t raise no fool. I checked him out before I jumped into bed with him. I called his chief financial officer (CFO), who was in Hong Kong. I asked him, “Mr. CFO, why is Mr. Wu offering me such a good deal?” He told me it was because Mr. Wu’s brother was recently in Hong Kong, going around getting women like me pregnant. Then instead of staying around and helping with the children, he slipped across the border into the PRC, never to be heard from again. But the CFO told me Mr. Wu was different. Mr. Wu was an honorable man. If he knocked me up he’d certainly stick around, and pay me dividends, year after year.

So I jumped into bed with Mr. Wu. And you wonder what happened? Did he leave me barefoot and pregnant? Absolutely not, elpinchegringo is much too shrewd for that. You see, elpinchegringo is an American girl. And American girls are sluts. Elpinchegringo has boyfriends from Hong Kong, Singapore, Mexico, Brazil, Canada, Australia and the United Kingdom. He has none from the USA, because American boys are cheap, they don’t pay good dividends. Elpinchegringo actually has children with over 50 boyfriends. Yeah, that’s a lot of kids, but it provides good diversification.

So, what happened? Yes, as you suspected, Mr. Wu took the money out of the bank account, stole the company chops (seals) and disappeared into the PRC. And elpinchegringo lost more money to Mr. Wu than he did to any other man. But because he was diversified he lived to see another day. And that, dear Jenny, is why I would encourage you to become a slut like me, if you’re not already. You should not place all your eggs in one basket and depend entirely on one man. Yes, perhaps it makes sense to have several percent of your net worth invested with Mr. CF. But not, say, 50%.

Seriously, this is why I’m shy about this counter. Up until about 3 months ago, when I made an even worse mistake, my biggest loss was in a position a lot like this one. The big difference in my mind is that CF is a Hong Kong citizen. For reasons that you’ve pointed out, Jenny, this is still a tempting proposition for me. I may buy the shares. By virtue of attending the SGM, you are likely in a better position than the rest of us to judge this one, so your comments should be taken seriously. So, honestly, I’d really like to know, what reasons did they provide at the SGM for replacing the auditor? And did one of the insiders actually tell you that Lead Champion has borrowed against the stock, or are you guessing that’s the case?

Respectfully,

EPG

Posted by Ve Nom Vee > 2014-03-04 08:19 | Report Abuse

To : EPG

You have made some relevant comments and done some homework on CSL.
My observations on CSL is to help innocent bystanders avoid making a possible investment mistake. On paper CSL is the "perfect investment", BUT there are too many question marks over the stock which makes it very risky. You should only buy stocks that you don't worry about and can sleep peacefully at night. CSL may possibly become your worst nightmare to haunt you!!

Jenny and her local cronies are hard core CSL committed fan base - there's nothing you say or do that can save them. Many "devils" have thrown ropes to them to help save them from the quagmire instead they have tied the rope more tightly around their necks to hang themselves.

Quote : "A Fool and his Money will soon be Parted !!"

Although I hate to say it, the contagion of fraudulent PLC listed Cos may soon be exposed in Bursa. Do yourself a BIG favour - AVOID CSL.
There are so many other better and safer stocks to buy.

Your Investment decisions are yours and yours alone !
Tread Carefully.

Posted by jennifersoon > 2014-03-04 08:53 | Report Abuse

the only way to awaken a fool is to make her realize she has been naked all times in the pool although is still swimming inside.

Posted by local > 2014-03-04 10:21 | Report Abuse

you all are good guy, why not bring this data that you all collected all this while and make a police report now ? by doing so you may save more ppl ! please do it to justify your finding .............for donkey months!!!!!!!

Posted by Fam Jenny > 2014-03-04 10:39 | Report Abuse

Elpin..... It is interesting to know your parables of explaination of global financial investment.An investor raised a question to the BOD of why they had disposed so much shares during the SGM,MR CF answered in Mandarin and said it was due to forced selling by financial institution.So I asked him why he didn't stop it and he said it was too late when he came to know about it.Probably he referred to the stake owned by the demised CEO who died of heart attack.
Elpin,I don't invest only in equity but in land and properties also,so I am very safe in my investment,thks for your concern.For your information I started buying gold chain at age of 14 years old with the little saving out of my pocket money given by parent.So I am quite exposed to investment from early times.

Posted by Fam Jenny > 2014-03-04 10:46 | Report Abuse

VE Nom and jeniffersoon,yours answers are not objective at all,personal view points,nothing concrete.

Posted by Fam Jenny > 2014-03-04 10:57 | Report Abuse

ELpin,three reasons given by the BOD for the replacement of auditors were 1)one of the partners of former auditors resigned from the company. 2)They lack of manpower to handle the a/cs in China and they wanted to subcontract to third party.3)They raised the audit fee by Sing dollars of 70k.Whereas the current auditors offer a lower fees.
CSL has its own Chinese auditors and this one is only a co-auditors.

Posted by elpinchegringo > 2014-03-04 11:12 | Report Abuse

Thanks Jenny

Posted by hamitouzhi > 2014-03-04 12:22 | Report Abuse

Fam Jenny, why u know so much?

Posted by Fam Jenny > 2014-03-04 12:34 | Report Abuse

I was in SGM and am a serious investor who reads all postings in this forum and have good memory.

Posted by hamitouzhi > 2014-03-04 15:23 | Report Abuse

please be at AGM & hentam them kao kao!

Posted by Fam Jenny > 2014-03-04 15:37 | Report Abuse

Shareprofit,don't behave like an stupid ass,fyi,I was taught by my mum that whoever srikes me I will hit back double portion so don't talk like a kid.I will bring a few pebbles for your stupid head,then only you understand what is threat.
Hamitouzhi,by that time I believe you should have got your dividend so you will a mild lamb there and Shareprofit will be too frightened to face me,HA,HA!the iron woman.

Posted by jennifersoon > 2014-03-05 09:05 | Report Abuse

FJ: you had claimed that CSL is the best stock in Bursa....why still sleeping at rm0.205-rm0.21??

Posted by jennifersoon > 2014-03-05 09:11 | Report Abuse

you jump, I jump. cioa.

Posted by Fam Jenny > 2014-03-05 10:00 | Report Abuse

Probably waiting for the day traders to depart and as for me I will stay put and wait only for dividends.
I can leave in peace and do not worry about the falling price like the other speculative stocks which have cost the fortune of many greenhorns whom I hope can survive financially.

Posted by Fam Jenny > 2014-03-05 10:54 | Report Abuse

When you accumulate any good shares with high potential you don't simply buy when the price is falling.You must buy when the price has fallen down and consolidated after any cycle of increase in price of the stock.Then only you buy at the cheapest and can be achieved by charting and TA,demand & supply chart to determine the best price.This is applicable for any kind of stock when they are moving uptrend.
If you keep on chasing stock after stock do you realised you are buying inflated stock so whatever profit you make in the stock you have sold is used to pay for the the inflated new counter.Hence is wise to sit on the stocks and when they move to a certain level it is prudent to dispose a portion of profits.

Posted by Fam Jenny > 2014-03-05 10:57 | Report Abuse

Correction:'...do you realise...'
....a portion for profits...'

Posted by Ve Nom Vee > 2014-03-05 11:06 | Report Abuse

To : Jennifersoon

Do yourself a favour and take a look at SUNZEN (Stock Code 0148).
This PLC is a Malaysian Biotech company (MBO of Pfizer Biotech Co in Malaysia) and managed by a group of professional doctors.

FY13 Earnings 2.4sen per share PE Ratio 11.8X
Just announced approval for Bonus Warrant 1:3
This is a Hidden Gem !!

Posted by jennifersoon > 2014-03-05 14:17 | Report Abuse

Ve Nom Vee: Thanks for recommendation. Hidden Gem???? Can you share with me the reasons ?

Posted by Ant > 2014-03-05 14:19 | Report Abuse

just abandon this counter, and you will seen a blue sky outside the window

Posted by moonriver > 2014-03-05 16:56 | Report Abuse

this is a hopeless stock. price would trended down until year end.

Posted by moonriver > 2014-03-05 17:04 | Report Abuse

the prolong rubbish price had mirrored the quality of this stock. putting this stock in dustbin is the final action for the hard core investors.

Posted by moonriver > 2014-03-05 17:37 | Report Abuse

FJ: are you kidding? you are making money via CSL????

Posted by moonriver > 2014-03-05 17:38 | Report Abuse

moon is unreachable ; river is the final destination ! the inevitable fate of hard core investor!

Posted by JXRepcoBuffet > 2014-03-05 17:43 | Report Abuse

PE ratio less than 2.................... who believe in China company's audited accounts?

Posted by LATO' SELI > 2014-03-05 17:44 | Report Abuse

I don't understand why these people too "addict" to this counter ; wasting your time & money.

Get out , go buy other counters

Posted by cpng > 2014-03-05 17:50 | Report Abuse

Maybe they are the cronies ..try to con as many as they can..

Posted by moonriver > 2014-03-05 17:57 | Report Abuse

the last newbie has ran away! it's time for crocodile to fight with another. Entertaining !

Posted by Wantanmee > 2014-03-05 19:51 | Report Abuse

Jx: fj believed the auditor. She is the only one .

Posted by Wantanmee > 2014-03-05 19:56 | Report Abuse

She is a paid crony here.

Posted by Wantanmee > 2014-03-05 19:57 | Report Abuse

Perhaps a black crony fr c family

Posted by Fam Jenny > 2014-03-05 20:58 | Report Abuse

Moonriver,JXRepcoBuffet.LAto seli,cpng and wantanmee,all nasty nuts ,Have you lost all your money in the useless counters, literally bankrupt, run amok,nothing to do and come here to attack me?.
If you are still a little sound in mind,pls make police report for any frauds or cheating you have discovered about CSL's management or auditors,I will fully support you if not pls get lost and don't defame or slander CSL's reputation.
CSL is a strong tree where it gives me good shelter from the storm of the great fall in the stock market recently and it will share its fruitage with me.So I love this protective tree very much and I am a happy bird sitting on one of the branches cheeping loudly,CSL is the best of the best.......Cheep,cheep,cheep.Pls cheep together with me then you can recover quickly from your madness bcos it is soothing your confused brains.

Posted by cpng > 2014-03-05 21:34 | Report Abuse

Walai....Hahaha..!!!

Ok...CSL is strong tree...you better hold it tide..

Bursa forest got lots of trees.. ..guys ....we can't help ppl from suicide themselves..