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Latest Forum Topics / ChinaMilk  Post Reply
China Milk
grandmaster89
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30-Mar-2010 10:42     
 
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 Alert Admin 		Then you have to find proof that they deliberately ignored audit evidence of fraud or shredded evidence. 

beruangface      ( Date: 30-Mar-2010 08:11) Posted:

if they don't perform their work according to professional standards, negligence in their duty, or involve in fraud with the management, they can be charged. In Satyam case, 2 PwC partners are in jail now, do you know that? This is no joke, auditors are hired not to simply sign off the auditors report, if not any tom,dick and harry can do the same thing..no need to pay them million of audit fees..



grandmaster89      ( Date: 29-Mar-2010 19:42) Posted:

How can you charge GT when they don't prepare the financial statements ?


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WLBO_BB
Master
30-Mar-2010 10:35     
 
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wa IPO 60ct!

they must have really milk out singapore investor men......



jasonwong75      ( Date: 30-Mar-2010 10:32) Posted:



Hi,

China milk IPO was 60 cents and historical high is above $1......

Those who bought china milk at the peak, they will probably be crying

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jasonwong75
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30-Mar-2010 10:32     
 
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Hi,

China milk IPO was 60 cents and historical high is above $1......

Those who bought china milk at the peak, they will probably be crying
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WLBO_BB
Master
30-Mar-2010 10:01     
 
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chinamilk once at 0.42....then 0.32....then suspended at 0.24.... if not suspend maybe now 0.10+ -... just like china hongxing at 0.145 now and china sport at 0.135 now.... the list go on and on....

 
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knightrider
Elite
30-Mar-2010 09:55     
 
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 Alert Admin 		No one can touch them, they are in mainland ! This one maybe like FerroChina. My friend bought 200 lots and 1 week later suspended, broking hse chase him for payment, he pay lor ! Very "sway".
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pharoah88
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30-Mar-2010 09:51     
 
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who  will  call  CID  to  ARREST  GT  and  CM CEO?

Will  SGX  call  CID ??

Will  SIAS  call  CID ???

Will  CASE  call  CID ????

Will  MAS  call  CID ?????

whO  WiLL  dO  DiRTY  jOb ??????

it  is  TiME  to  PASS a  BILL on 

*INVEST  TRUST* 

*FOREIGN  IPO  TRUST*

to  protect the INVESTORS  from

fOreign  cOmpanies  Listing  at  SGX

 



beruangface      ( Date: 29-Mar-2010 19:28) Posted:

GT happily signed off the auditors report for the past few years, no question being asked eventhough there is no proper supporting document for the cash balances, now they started to panic and hold back the finalisation of the annual report...what they were doing for the past few years? The cash has been showing in the balance sheet for so long...drink too much milk until fall asleep during the audit field work?

As usual, after so much noise in the market, SGX makes a special guest appearence to 'wayang' that they are still working ..but it's little bit too late

Personally I feel there is no cash or little left in CM, this is another Satyam, I am not sure if the govt will put the GT partners and CM CEO into jail like Satyam...someone has to be responsible for it..



investment      ( Date: 29-Mar-2010 17:56) Posted:

China Milk Products Group was asked on Monday by the Singapore Exchange to disclose why documents needed for a cash audit had not been given to the company's auditors.

 

SGX said it had directed the company to perform an urgent audit of its cash holdings and to announce the results by Mar 15, but were told on Mar 19 that auditors Grant Thornton had yet 'to finalise their reportprimarily due to the fact that certain executed documentation which they require for the cash audit has not been furnished in full to them'.

SGX also wants the company to provide an update on whether its auditors have been able to review China Milk's Q3 2010 financial statements and to confirm that the results will be released by the April 5 deadline. It also wants an update on the progress of the company's search for a new chief financial officer.

China Milk is in technical default of some US$170 million of debt after bondholders exercised put options. The company claims it has enough cash to pay its obligations and is only awaiting regulatory approval for the money to be transferred out of China.

'The Exchange takes a serious view of the developments in the Company and requires the Board to address the following issues immediately via a public announcement on SGXNet,' the SGX said
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wishbone
Master
30-Mar-2010 09:47     
 
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 Alert Admin 		It is all up to your imagination or interpretation. Half full or Half empty. Positive thinking or Negative Thinking.

Hulumas      ( Date: 30-Mar-2010 09:22) Posted:

HOPE or HOPELESS?

wishbone      ( Date: 30-Mar-2010 09:01) Posted:

Yes. When playing with stocks it is always prudent to "prepare for the worst and hope for the best".

Once you are prepared, you will not panic or be caught with surprise when the event turns against you. If it turns out to be good, then you will definitely be much happier, right!!!



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WLBO_BB
Master
30-Mar-2010 09:41     
 
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Hulumas
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30-Mar-2010 09:22     
 
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 Alert Admin 		HOPE or HOPELESS?

wishbone      ( Date: 30-Mar-2010 09:01) Posted:

Yes. When playing with stocks it is always prudent to "prepare for the worst and hope for the best".

Once you are prepared, you will not panic or be caught with surprise when the event turns against you. If it turns out to be good, then you will definitely be much happier, right!!!



grandmaster89      ( Date: 29-Mar-2010 19:57) Posted:

Just write off your investment. Any good news is a bonus :)


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wishbone
Master
30-Mar-2010 09:01     
 
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Yes. When playing with stocks it is always prudent to "prepare for the worst and hope for the best".

Once you are prepared, you will not panic or be caught with surprise when the event turns against you. If it turns out to be good, then you will definitely be much happier, right!!!



grandmaster89      ( Date: 29-Mar-2010 19:57) Posted:

Just write off your investment. Any good news is a bonus :)

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beruangface
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30-Mar-2010 08:11     
 
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if they don't perform their work according to professional standards, negligence in their duty, or involve in fraud with the management, they can be charged. In Satyam case, 2 PwC partners are in jail now, do you know that? This is no joke, auditors are hired not to simply sign off the auditors report, if not any tom,dick and harry can do the same thing..no need to pay them million of audit fees..



grandmaster89      ( Date: 29-Mar-2010 19:42) Posted:

How can you charge GT when they don't prepare the financial statements ?

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lawcheemeng
Master
29-Mar-2010 22:30     
 
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 Alert Admin 		Hehehe    no cow milk lah,,,,,,,, china stock arrrrrrrh,,,,look like another one got into trouble liao......look at CNA........lor.


MarkLiao60      ( Date: 29-Mar-2010 21:48) Posted:

NO MILK COWS



pharoah88      ( Date: 29-Mar-2010 18:11) Posted:

NO  MONEY  COW
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MarkLiao60
Member
29-Mar-2010 21:48     
 
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NO MILK COWS



pharoah88      ( Date: 29-Mar-2010 18:11) Posted:

NO  MONEY  COWS

pharoah88      ( Date: 29-Mar-2010 18:07) Posted:

NO  MORE  COWS
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grandmaster89
Veteran
29-Mar-2010 19:57     
 
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 Alert Admin 		Just write off your investment. Any good news is a bonus :)
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wishbone
Master
29-Mar-2010 19:50     
 
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 Alert Admin 		Whatever they are going to do now will not make shareholders any better at least for now. 
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wishbone
Master
29-Mar-2010 19:45     
 
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 Alert Admin 		Another Wayang. Hopeless.
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grandmaster89
Veteran
29-Mar-2010 19:42     
 
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 Alert Admin 		How can you charge GT when they don't prepare the financial statements ?
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beruangface
Senior
29-Mar-2010 19:28     
 
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GT happily signed off the auditors report for the past few years, no question being asked eventhough there is no proper supporting document for the cash balances, now they started to panic and hold back the finalisation of the annual report...what they were doing for the past few years? The cash has been showing in the balance sheet for so long...drink too much milk until fall asleep during the audit field work?

As usual, after so much noise in the market, SGX makes a special guest appearence to 'wayang' that they are still working ..but it's little bit too late

Personally I feel there is no cash or little left in CM, this is another Satyam, I am not sure if the govt will put the GT partners and CM CEO into jail like Satyam...someone has to be responsible for it..



investment      ( Date: 29-Mar-2010 17:56) Posted:

China Milk Products Group was asked on Monday by the Singapore Exchange to disclose why documents needed for a cash audit had not been given to the company's auditors.

 

SGX said it had directed the company to perform an urgent audit of its cash holdings and to announce the results by Mar 15, but were told on Mar 19 that auditors Grant Thornton had yet 'to finalise their reportprimarily due to the fact that certain executed documentation which they require for the cash audit has not been furnished in full to them'.

SGX also wants the company to provide an update on whether its auditors have been able to review China Milk's Q3 2010 financial statements and to confirm that the results will be released by the April 5 deadline. It also wants an update on the progress of the company's search for a new chief financial officer.

China Milk is in technical default of some US$170 million of debt after bondholders exercised put options. The company claims it has enough cash to pay its obligations and is only awaiting regulatory approval for the money to be transferred out of China.

'The Exchange takes a serious view of the developments in the Company and requires the Board to address the following issues immediately via a public announcement on SGXNet,' the SGX said
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pharoah88
Supreme
29-Mar-2010 18:11     
 
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 Alert Admin 		NO  MONEY  COWS

pharoah88      ( Date: 29-Mar-2010 18:07) Posted:

NO  MORE  COWS
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pharoah88
Supreme
29-Mar-2010 18:07     
 
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 Alert Admin 		NO  MORE  COWS
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