| Latest Forum Topics / Ferrochina |
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Shoot up for no reason?
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teeth53
Supreme |
02-May-2009 11:42
Yells: "don't learn through life, learn to grow with life " |
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Tip of d iceberg...Hot-shot fund managers burnt by crsis. the enthusiasm enabled it to raise S$443 million of individual rich clients money (to loss) on a lossing man who misread mkt, also attracted US investment banker Morgan Stanley as shareholder Bad timing and risks taken on S-chips behind huge losses at CMIA & Abax. CMIA partner Mr Lee Chong Min at 35, who make a huge profit of S30 million in 2004, who's lost all in Ferrochina stake valued at $240 million in 2007 is now effectively worth nothing. FerroChina was market value at $2.12 in Dec 07, but was suspended in Oct 08 due to many banks refused to roll over short term loans The thing i wanted to highlight is around this same time when FerroChina collapsed. CMIA had joined a buyout to delist mainboard fibreglass products maker Midsouth holdings. Mr Lee had certainly misread the market as the transaction took palce just after d collapse of US investment bank Lehman Brothers. CMIA had been a substantial shareholder in Midsouth. Another young Taiwanese-born fund mgr, Mr Chris Hsu, Ex-CEO of Abax invested US25million of clients money, is in business to convert Unifiber shares at 0.355 cents, which now is worth at 0.035 cent, less then 10% of it value wanted to reset convertible bonds value where there is NO mechanism in the agreement to reset the conversion price. teeth53 thot..have to wait at least 5yr liao We are still (not out of stage four) at STAGE 4..credit melting.......  Thing to note: Last stage...Got Cash is king to investment strategic.
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AK_Francis
Supreme |
19-Mar-2009 01:08
Yells: "Happy go lucky, cheers." |
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It was sus on 091008. Last biz report in mid Oct 08 indicated that d coy is unable to repay part of its working capital loans aggr RMB 706m which has become due. As a result, further loan facilities of aprx RMB 2030m may become payable. Big wok ah, how to pull up its shocks, under current gloomy economy, in PRC. SUS at 54.5 cts. Yr H 174 n L45cts. |
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bh704428
Veteran |
18-Mar-2009 23:08
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are you vested in tis?
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Andrew
Master |
18-Mar-2009 14:23
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fc announced that they are not even invited to the creditor meeting.....very bad news....
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Ucrano
Member |
18-Mar-2009 13:31
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Any idea or news if it will get reinstated soon? | ||
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Hulumas
Supreme |
18-Mar-2009 00:07
Yells: "INVEST but not TRADE please!" |
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Grey market, and sell cheap cheap?
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terencefok
Master |
17-Mar-2009 23:57
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suspended leh... how to sell? | ||
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bola_no1
Senior |
17-Mar-2009 23:38
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can sell meh? stuck | ||
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punter2006
Senior |
09-Jan-2007 17:18
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Hi guys, anybody know any insider news regarding ferrochina? | ||
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