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07-Oct-2013 14:49

Others / Thought of the Moment

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07-Oct-2013 14:35

Renaissance United / Neglected, Illiquid, Undervalue, Recovery counter

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never sell into strength? buy back now maybe double win? wasted..

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07-Oct-2013 14:05

Others / For the contra players....

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no matter how bitter the medicine

drink bit by bit everyday

u will finish the medicine

and get well eventually.

Sofarsogood? ( Date: 07-Oct-2013 13:59) Posted:

I have lost myself

I have ruined my family and

I have lost everything

paulr0x ( Date: 07-Oct-2013 13:11) Posted:

Bro, how much u lost? I have lost quite a bit too....:

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07-Oct-2013 13:52

Others / Any Stocks Also Can Discuss Forum

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wow! so rich!

winterQQ ( Date: 07-Oct-2013 13:51) Posted:

hahaha... all so guai guai...

I go shopping, anything other than shares...

see you bros and sistaz again!!

joseeng ( Date: 07-Oct-2013 13:24) Posted:

yeah, can fully focused on work now....lol

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07-Oct-2013 13:04

Renaissance United / Neglected, Illiquid, Undervalue, Recovery counter

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Peter_Pan ( Date: 06-Oct-2013 17:46) Posted:

Reuters Code:	IPCO.SI
Company:	IPCO International Limited
Slug:	If Innopac writes down investment, why won't IPCO?

Date of Report:	05/10/2013
Producer:	Ashish Saxena

Innopac makes sensational disclosure about its 25% stake in Grand Prosper, and says it's been sitting idle for more than a year with no hope of recovery. Then why is 75% owner IPCO still hanging on?

5/3/2013 ? The onus is on IPCO International now to clarify its investment in Grand Prosper Group Ltd, after Grand Prosper's 25% owner, Innopac Holdings Ltd, has made some sensational disclosures to the Singapore Exchange.

This story was first published on April 4, 2013.

Innopac said it had written off its S$1.4 mln investment in the company, saying " In the Company?s view, the lengthy and convoluted processes to obtain more than 10 approvals from various other local authorities, such as civil defense bureau, city planning bureau, and quality inspection bureau in addition to the permits adds to future uncertainties. Though Grand Prosper and Deshi are cautiously optimistic that the Permits would be renewed, the Company has taken a conservative stance and impaired its investment in Grand Prosper" .

Innopac was replying to an SGX query, but its words are even more significant for shareholders of IPCO International, which owns the other 75% of Grand Prosper, via its wholly owned subsidiary Excellent Empire Ltd.

The reason for Grand Prosper's impairment has to do with its 90% stake in Deshi Oil and Gas Exploration Co Ltd.

According to Innopac?s reply to SGX: In December 2010, Deshi received permits from the public utility bureau to build and operate two CNG stations in Dezhou City, Shandong Province.

Further, Deshi planned to commence the construction of one CNG station in the second half of 2011.

But none of Deshi?s proposed station sites met the local authority?s approval criteria, reveals Innopac.

Subsequently, the permits lapsed in December 2011.

Deshi has already applied for the renewal of the permits but without success.

Investor Central. We ask the questions that need to be asked

1. Why did it keep shareholders in the dark for so long?
Since we do not have anything to doubt the integrity of Innopac's MD & CEO Wong Chin Yong, we will take his reply to the query from SGX at face value.

According to that reply, Deshi?s permits for constructing two CNG fuel stations in Dezhou city expired in December 2011.

Therefore we just cannot understand why IPCO did not inform the market about such a meaningful development and decided to sit on it for more than a year.

Question

2. Will it write off its S$17 mln investment in Grand Prosper?

Innopac's decision to write off its investment in Grand Prosper now puts the spotlight on IPCO International: will it follow suit?

In December 2007, IPCO?s wholly-owned subsidiary bought a 55% stake in Grand Prosper for US$9.5 mln (or S$13.8 mln at exchange rates at the time).

From the very beginning, Grand Prosper?s only business/asset was its 90% stake in Deshi Oil and Gas Exploration Co Ltd.

In June 2010, IPCO bought another 20% stake in Grand Prosper for S$3 mln.

So that makes an investment of S$16.8 mln for 75% stake in Grand Prosper.

Innopac has already lost hope of receiving renewal from the authorities and therefore, written off its entire investment in Grand Prosper.

Logically, IPCO should follow Innopac. At least on the principle of conservatism.

Therefore will IPCO bite the bullet and write off its entire investment in Grand Prosper?

If not, what reason does it have to believe that Grand Prosper will be back in business soon?

Question

3. Is it really rocket science to get approvals from authorities?

Innopac says Deshi planned to launch first of its two CNG stations in the second half of 2011.

But none of Deshi?s proposed station sites met the local authority?s approval criteria.

Let's think about this: how could they win licenses to set up CNG stations and then not meet the requirements?

What shortcomings did authorities point out in the sites proposed by Deshi?

How many sites did Deshi propose which the authorities rejected?

Question

4. Was the second CNG station never on the cards?

Innopac says Deshi planned to set up first of its two licensed CNG stations in second half of 2011.

But then when did it plan to set up the second station, as the licenses were due to expire in December 2011?

Question

5. Was Deshi just trying its luck with the authorities?

Innopac blames ?the lengthy and convoluted processes to obtain more than 10 approvals from various other local authorities, such as civil defense bureau, city planning bureau, and quality inspection bureau in addition to the permits adds to future uncertainties?.

Wasn't Deshi aware of the regulatory processes before it stepped into the business?

And if it always knew the regulatory hurdles, was it just trying its luck at the expense of shareholders of Innopac and IPCO?

Question

6. Is it time to be realistic rather than tout optimism?

Innopac clearly says it's being conservative, even as Grand Prosper and Deshi continue to be ?cautiously optimistic? that permits will be renewed.

After sitting idle for more than a year, investors of IPCO would question the optimism of its subsidiaries.

And if indeed there is a ray of hope, they would love to hear the reasons from management.

7. Why did IPCO not act even as Deshi shifted its focus?
We are still searching for replies to the questions raised in our earlier report titled Why sell investments for shares, not cash? (December 27, 2012).

Among other questions in that story, we had highlighted how Deshi?s business changed dramatically after IPCO bought its stake in 2007.

In 2007, Grand Prosper Group owned 90% of a joint venture called Deshi Oil and Gas Exploration Co Ltd, which had a contract with Shengli - a subsidiary of Sinopec - for the exploration, exploitation and production of oil and natural gas in the Ciyaobao and Dongdaoliangzi areas of the Ningxia Autonomous Region in China.

The contract was valid until 2026.

Unfortunately, we did not hear anything from IPCO on the developments from Ciyaobao area ever since the acquisition (at least, none that we could find going through the SGX announcements).

Suddenly, in 2011, Innopac bought the remaining 25% stake in Grand Prosper because it believed ?its investment in the CNG fuel station business in Dezhou, Shandong will contribute positively in the coming years?.

Wait a minute!

Wasn't Grand Prosper set up to benefit from exploration, exploitation and production of oil and natural gas in the Ciyaobao and Dongdaoliangzi area of the Ningxia Autonomous Region in China?

When did that change?

We have sent these questions to the company to invite them for an on-camera interview, and/or seek their written response.

Sofar, we have not had a reply (which is why you are seeing this message). Source: Investor Central

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07-Oct-2013 12:45

Others / For the contra players....

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fund the acct and use that as ur trading limits. never use up the limits brokers give u, stick to the amount u have in ur trust balance to trade so u wont have to worry about due dates or worst case... force-selling.

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07-Oct-2013 11:58

Others / What?s Happened to Blumont, Asiasons and LionGold

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What?s Happened to Blumont, Asiasons and LionGold Corp?

On Friday morning three popular Singapore shares fell off the proverbial cliff. Asiasons Capital Limited?s (SGX: 5ET) slid 61% to S$1.04 Blumont Group?s (SGX: A33) slumped 56% to S$0.88 and LionGold Corp (SGX: A78) dropped 42% to S$0.88.

All three shares have been suspended by the Singapore Stock Exchange ?to safeguard the interests of the market as there could be circumstances that would result in the market not being fully informed.?

All this has happened on an otherwise quiet day in which the Straits Times Index (SGX: ^STI) is currently down by only 0.2% to 3,139 points.

So, what exactly has happened to those shares?

I have no idea, and I will likely remain clueless until SGX or the respective companies shed more light on the matter. And even then, the real answers might never be known.

Understandably, existing shareholders will look at their portfolios and demand answers. But that might not be the right question to ask.

First, a short story?

My Foolish colleague David Kuo recently shared a great story about a private ?investor? named Bob:

?Bob, you see, felt that blue chips were a little boring. In his mind, he could not see the attraction of buying a stock that only returned around 8% a year. (Oh dear. If only Bob knew that such an investment could double in value in around nine years.)

So, Bob decided he would chance his hand on a stock tip he got wind of at a local coffee shop. It seems that a little birdie told him that a particular penny stock was set to explode into life.

So at the first available opportunity, Bob phoned his broker to place an order for one lot. As it turned out, the shares rose sharply. So, a delighted Bob phoned his broker to buy more.

His broker advised him against it. But Bob was adamant. And sure enough the shares rose even further. Every time the shares rose, Bob would be on the phone straight away to buy even more. And every time that he did, his broker would warn him against it.

Then one day, the shares fell.

So, Bob quickly called his broker to sell his holdings. However, his broker was unable to find any buyers.

A perplexed Bob asked his broker why he couldn?t find a buyer for his shares. After all, there must have been plenty of buyers out there since the shares had risen so sharply previously.

?Not really?, his broker replied. Then came the shocker. ?You see, Bob, the only person out there buying the penny shares was you?.

? Then, the right thing to ask

It?s a great story by David and it is warning of sorts about the dangers that lurk behind penny stocks.

But while the situations involving the three shares will each have their nuances and differences, there are some parallels we can draw with hapless Bob.

Blumont had risen from six cents a share a year ago, to S$2.45 on 30 Sep 2013. It wasreported that on 2 Oct 2013 the Securities Investors Association Singapore (SIAS) ?has called for a speedy investigation into the unusual rise in share price in Blumont Group.?

With the company trading at 500 times its last-12-months? earnings and over 60 times its book value at that time, SIAS also ?emphasised that shareholders need to know the reason behind [the price increase].?

The same goes for Asiasons and LionGold. Shares in the former were S$0.98 a share at the start of Sep 2013 before zipping up 197% to a high of S$2.91 just nineteen days later on 19 Sep 2013. Asiasons? shares then slipped very slowly to S$2.70 yesterday? And we know what happened next.

Meanwhile, LionGold closed at S$1.16 a share on 1 Aug 2013 before it climbed 50% in short order to hit a peak of S$1.75 on 27 Aug 2013. LionGold?s shares subsequently declined steadily before culminating in today?s drastic sell-off.

During the meteoric rise of all three shares, did shareholders ever question if the price increases can be justified by the changes in the company?s fundamentals?

Or, were the companies so undervalued ? or very, grossly undervalued ? that the rapid price gains can be substantiated? Those are the real questions to ask!

Bob?s sole rational in buying shares was because the price rose. And when it fell, he suffered.

If Blumont investors were jumping onto the bandwagon because a price increase was their only lodestone for evaluation, then they will naturally be lost when their reason for buying is no longer there.

On the other hand, if the reason for investing in the company was a belief in its long-term potential in the minerals and resources industry, in which Blumont has made substantial recent investments, then this episode might prove to be a blip, albeit an ugly one.

Foolish Bottom Line

Stock market prices can fluctuate irrationally and often wildly. That means to say that prices can keep rising even when the underlying businesses have poor fundamentals. If that?s the case, then don?t be surprised when the bottom falls out one day.

On the other hand, prices can collapse despite strong fundamentals. That?s when investors need to exercise discipline and not give into fear. A purchase during times of irrational distress can even set the stage for spectacular returns in the future.

Ultimately, investors have to recognise that business fundamentals are the main drivers of long-term shareholder returns. In the long run, it?s the businesses that matters.

Source: The Motley Fool

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07-Oct-2013 11:42

Attilan / could it be takeover rumour for Asiasons capita?

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Singapore's Asiasons Capital tumbles after lifting of trading halt

SINGAPORE, Oct 7 (Reuters) - The share price of
Singapore-listed Asiasons Capital Ltd dropped as much
as 90 percent to S$0.17 ($0.14) after a trading halt was lifted
on Monday.
The Singapore Exchange halted trading of shares in Asiasons,
LionGold Corp Ltd and Blumont Group Ltd on
Friday. [ID:nL4N0HU1A0]
Blumont shares resumed trading, down 81 percent to S$0.167.

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07-Oct-2013 11:14

Others / Cowboy Traders Annonymous

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preserve the forest and the trees will grow again

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07-Oct-2013 10:43

Others / WARNING: PLEASE DO NOT NAKED-SHORT BLUMONT

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WARNING: PLEASE DO NOT NAKED-SHORT BLUMONT TOMORROWSingapore Exchange (SGX) will lift the suspension of securities in Blumont Group Ltd (Blumont) on Monday, 7 October 2013, at 8.30am.

SGX concurrently declares Blumont and its related securities as Designated Security with the following trading restrictions:-
(i) Prohibited sale of shares unless the seller holds the Designated Securities in the quantity to be sold and
(ii) Prohibited purchase of shares unless the buyer makes cash payment at the time of order execution.

SGX will continue to monitor the trading of Blumont and review the circumstances in due course to end the declaration.

Shareholders and investors are advised to trade with caution.

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07-Oct-2013 09:55

Others / UOBKH may have saved many retailers too

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yup.

jomini ( Date: 06-Oct-2013 21:49) Posted:

agreed. prevented many others from getting into the ponzi scheme

Peter_Pan ( Date: 06-Oct-2013 19:55) Posted:

Seriously speaking, UOBKH may have saved many retailers from the bloodbath by limiting their clients' exposures and raising other brokerages' clients awareness.

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06-Oct-2013 21:42

Others / WARNING: PLEASE DO NOT NAKED-SHORT BLUMONT

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best to check with ur respective brokerages first

davidoch ( Date: 06-Oct-2013 21:34) Posted:

can use CFD to short....

Peter_Pan ( Date: 06-Oct-2013 20:27) Posted:

WARNING: PLEASE DO NOT NAKED-SHORT BLUMONT TOMORROW

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06-Oct-2013 21:01

Others / WARNING: PLEASE DO NOT NAKED-SHORT BLUMONT

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u r welcome..! cos sometimes retailers may not be aware and gian gian hope to make a quick bucks by pressing the short-selling button tomorrow...then tio liao!!! orh bak kak

JarolLo ( Date: 06-Oct-2013 20:52) Posted:

Bro, tks for your notice. Anyway I don't think any people with logical sense will want to touch these 3 evils now lah, and those related ones such as Innopac and IPCO.

Peter_Pan ( Date: 06-Oct-2013 20:40) Posted:

Singapore Exchange (SGX) will lift the suspension of securities in Blumont Group Ltd (Blumont) on Monday, 7 October 2013, at 8.30am.

SGX concurrently declares Blumont and its related securities as Designated Security with the following trading restrictions:-
(i) Prohibited sale of shares unless the seller holds the Designated Securities in the quantity to be sold and
(ii) Prohibited purchase of shares unless the buyer makes cash payment at the time of order execution.

SGX will continue to monitor the trading of Blumont and review the circumstances in due course to end the declaration.

Shareholders and investors are advised to trade with caution.

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06-Oct-2013 20:51

Others / Cowboy Traders Annonymous

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now everyone dont trade with them, i trade with them, i become titanium status client, hampers confirmed coming non-stop liao...

meohmy ( Date: 06-Oct-2013 20:40) Posted:

Yes got chance.
Eh now Kh is most despised brokerage and u go open with them... :)

Peter_Pan ( Date: 06-Oct-2013 20:35) Posted:

i have funded my acct leh...my new broker's eyes twinkle twinkle little stars leh...i got chance le

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06-Oct-2013 20:43

Others / WARNING: PLEASE DO NOT NAKED-SHORT LIONGOLD

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Singapore Exchange (SGX) will lift the suspension of securities in LionGold Corp Ltd (LionGold) on Monday, 7 October 2013, at 8.30am.

SGX concurrently declares LionGold and its related securities as Designated Security with the following trading restrictions:-
(i) Prohibited sale of shares unless the seller holds the Designated Securities in the quantity to be sold and
(ii) Prohibited purchase of shares unless the buyer makes cash payment at the time of order execution.

SGX will continue to monitor the trading of LionGold and review the circumstances in due course to end the declaration.

Shareholders and investors are advised to trade with caution.

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06-Oct-2013 20:41

Others / WARNING: PLEASE DO NOT NAKED-SHORT ASIASON

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Singapore Exchange (SGX) will lift the suspension of securities in Asiasons Capital Limited (Asiasons) on Monday, 7 October 2013, at 8.30am.

SGX concurrently declares Asiasons Designated Security with the following trading restrictions:-
(i) Prohibited sale of shares unless the seller holds the Designated Securities in the quantity to be sold and
(ii) Prohibited purchase of shares unless the buyer makes cash payment at the time of order execution.

SGX will continue to monitor the trading of Asiasons and review the circumstances in due course to end the declaration.

Shareholders and investors are advised to trade with caution.

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06-Oct-2013 20:40

Others / WARNING: PLEASE DO NOT NAKED-SHORT BLUMONT

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06-Oct-2013 20:35

Others / Cowboy Traders Annonymous

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i have funded my acct leh...my new broker's eyes twinkle twinkle little stars leh...i got chance leh

meohmy ( Date: 06-Oct-2013 20:28) Posted:

Wait long long peter. Unless of course u r high net worth individual with money with them. Then u will have Xmas CNY hamper birthday voucher lor... Hehehe

Peter_Pan ( Date: 06-Oct-2013 19:31) Posted:

shall start trading with uobkh soon....counting down.....dont know got Christmas hamper boh??

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06-Oct-2013 20:30

Others / WARNING: PLEASE DO NOT NAKED-SHORT LIONGOLD

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WARNING: PLEASE DO NOT NAKED-SHORT LIONGOLD TOMORROW

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06-Oct-2013 20:28

Others / WARNING: PLEASE DO NOT NAKED-SHORT ASIASON

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WARNING: PLEASE DO NOT NAKED-SHORT ASIASON TOMORROW

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