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winwinsituation Member	29-Mar-2011 07:54        winwinsituation About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just curious.  I believe all trades are traceable, especially those big ticket items.  Couldn't they identify these trades, the sellers and the relevant brokers, the persons who gave the brokers to sell, any relationships and/or links  between these brokers, sellers, auditors and even employees of ChinaGaoxian.  Perhaps to zoom in, when the cash discrepancies were identified, who were present when they were discovered, who made the big sales  and how many hours or days later when such trades were executed?
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hpong5 Master	29-Mar-2011 02:16        hpong5 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Sometimes it's very common for auditors to face some problems in the course of auditing accounts due to the massive paperwork. They audit cgx's accounts after they have posted their unaudited full year's report. They have up until end of April to finalise the report and are probably only halfway through. As mentioned, it is common for them to face problems during auditing, and since s-chips have been having accounting issues and suspensions recently, some insiders probably got hysterical and informed their Big "Friends" who then started dumping the shares and sets off a chain-reaction. This led to sgx's query and to protect the shares from dropping further, a trading halt has to be called. As it is not possible for the auditors to verify the problems they faced within 3 days, a suspension has to be called, otherwise a resumption of trading without clarifying the issues will lead to a further selldown as "hysterical" insiders' info probably has been leaked.
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PowerReloaded Member	29-Mar-2011 01:06        PowerReloaded About Contact  Quote this Post!
x 0   x 0  Alert Admin	From the past  till now. E & Y?? Too sensitive. Who dare to tell you anything  at this point of time. This is the best i can provide.   On the flip side, we have the Koreans who can & will exert more pressure rather than to depend on SGX. The chances of resume earlier trading is much higher. Relook at the query. Probably like what Phong mentioned in middle of April. Last AGM was on 27th Apr 2010. Keep fingers X CEO  & mgmt team are the most important pillars of a company. At least they previously were there  and are still there. Cash  payment to secure orders is very common there during the last quarter (X'mas & CNY festive seasons). Probably due to documentation & process (which i  sometimes encountered) that lead the findings, but enough of the guessing. Wait  for their  annoucement.       Good luck
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Vanpersie Member	28-Mar-2011 23:51        Vanpersie About Contact  Quote this Post!
x 0   x 0  Alert Admin	The feedback from your counterparts is recent ones or some time ago? The best way is find out what has happened is to ask someone who has connection with Ernst and Young in China. PowerReloaded      ( Date: 28-Mar-2011 16:59) Posted: As mentioned in my other post, a businessman dealing indrect business with CGX, did not received any negative news abt the CEO or the company. All are positive from my many counterparts there. Products delivered are one of the best from there. Many of us here do not quite understand their businesses there, the culture etc. Many analysts or writers are in the way " English busimess world educated" . Goodluck.
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stan19 Member	28-Mar-2011 18:50        stan19 About Contact  Quote this Post!
x 0   x 0  Alert Admin	sounds encouraging... but even tats true, u still  cannt rule out the possibility of someone else did the damage do company. PowerReloaded      ( Date: 28-Mar-2011 16:59) Posted: As mentioned in my other post, a businessman dealing indrect business with CGX, did not received any negative news abt the CEO or the company. All are positive from my many counterparts there. Products delivered are one of the best from there. Many of us here do not quite understand their businesses there, the culture etc. Many analysts or writers are in the way " English busimess world educated" . Goodluck.
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PowerReloaded Member	28-Mar-2011 16:59        PowerReloaded About Contact  Quote this Post!
x 0   x 0  Alert Admin	As mentioned in my other post, a businessman dealing indrect business with CGX, did not received any negative news abt the CEO or the company. All are positive from my many counterparts there. Products delivered are one of the best from there. Many of us here do not quite understand their businesses there, the culture etc. Many analysts or writers are in the way " English busimess world educated" . Goodluck.
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PowerReloaded Member	28-Mar-2011 16:32        PowerReloaded About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://www.changlewang.cn/qyj/cxb.htm http://www.clfz.cn/zww/news.aspx?SeeID=364656& SeeTitle=2010%A1%B6%B3%A4%C0%D6%B7%C4%D6%AF%A1%B7%B5%DA9%C6%DA http://china.alibaba.com/company/detail/intro/fjhuawei.html http://zt.hz66.com/jx/content.asp?id=22093 No change of senior mgmt nor external auditor. 4 subsidaries (2 newly est. last year for investment purpose, the other 2, all already knew).
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