As a rule, I don't recommend to buy or sell stocks since my reasons or expectations might be very different from yours. I don't mind sharing why I bought a stock though.

The S Chip I am holding on to is China Merchants Pacific or CM Pacific. It is 78% owned by a PRC SOE, pays dividends twice a year, 8-9% yield, trading below NAV, increasing profits, highly defensive business of operating toll-roads. If you wish to know more, just PM me.

Happy CNY to u too.

Hope yr other investment huat n compensate yr lost in China Milk.

Cheers.

thanks brother. was not in sg to monitor..haiz...there goes my Lau Poh Ben....sian..

anyway Happy CNY to u..

dealer0168      ( Date: 13-Feb-2010 17:11) Posted: U guys should have offload it when i put up this update. loh.............   dealer0168      ( Date: 25-Jan-2010 21:23) Posted: Becareful.....read below: Six Singapore-listed China firms can’t repay debt, SCMP says Written by Bloomberg    Monday, 25 January 2010 14:33 Six of the 11 Chinese companies listed in Singapore that sold convertible bonds between 2005 and 2008 have said they are unable to repay debts, the South China Morning Post reported, citing an investor association official. The Securities Investors Association of Singapore asked the Chinese government to discipline the companies since Singapore doesn’t have the authority to do so, Chairman David Gerald said, according to the Hong Kong-based newspaper. The association represents 4,000 small shareholders, the report said. Steel group Delong Holdings and developer Sunshine Holdings have reorganised their finances, while the other four companies are negotiating with creditors, the report said.   Delong said in September that it planned to restructure about 1.5 billion yuan ($308 million) of convertible bonds due in 2012 and Sunshine Holdings said in the same month that it reached a settlement agreement on US$120 million ($168 million) of loans.   Delong Holdings Chairman Ding Liguo didn’t return calls from Bloomberg News seeking comment today while Foo Soon Soo, joint secretary for Sunshine Holdings, declined to comment.   China Printing & Dyeing Holdings, China Milk Products Group, Sino-Environment Technology Group and FerroChina are the other companies named by the SCMP.   China Printing said Oct 26 it was in restructuring talks with a potential investor, then said Jan. 21 that the Singapore Exchange ordered it to delist by Feb 12. China Milk said on Jan 5 that it wouldn’t be able to meet a repayment deadline for convertible bonds due in 2012 because it was awaiting approval from China’s State Administration of Foreign Exchange. Sino-Environment, a provider of waste-treatment services, said in July that it couldn’t pay interest on $149 million of convertible bonds and asked creditors for more time to review its finances. Steelmaker FerroChina said on Dec 17 that the Singapore bourse asked it to delist after saying in October 2008 that it was unable to repay 706 million yuan of loans amid the credit crisis. Calls to the offices of China Milk, China Printing, Sino- Environment and FerroChina weren’t immediately answered.

To be frank Stock got suspense is no play play things.

dealer0168      ( Date: 13-Feb-2010 17:11) Posted: U guys should have offload it when i put up this update. loh.............   dealer0168      ( Date: 25-Jan-2010 21:23) Posted: Becareful.....read below: Six Singapore-listed China firms can’t repay debt, SCMP says Written by Bloomberg    Monday, 25 January 2010 14:33 Six of the 11 Chinese companies listed in Singapore that sold convertible bonds between 2005 and 2008 have said they are unable to repay debts, the South China Morning Post reported, citing an investor association official. The Securities Investors Association of Singapore asked the Chinese government to discipline the companies since Singapore doesn’t have the authority to do so, Chairman David Gerald said, according to the Hong Kong-based newspaper. The association represents 4,000 small shareholders, the report said. Steel group Delong Holdings and developer Sunshine Holdings have reorganised their finances, while the other four companies are negotiating with creditors, the report said.   Delong said in September that it planned to restructure about 1.5 billion yuan ($308 million) of convertible bonds due in 2012 and Sunshine Holdings said in the same month that it reached a settlement agreement on US$120 million ($168 million) of loans.   Delong Holdings Chairman Ding Liguo didn’t return calls from Bloomberg News seeking comment today while Foo Soon Soo, joint secretary for Sunshine Holdings, declined to comment.   China Printing & Dyeing Holdings, China Milk Products Group, Sino-Environment Technology Group and FerroChina are the other companies named by the SCMP.   China Printing said Oct 26 it was in restructuring talks with a potential investor, then said Jan. 21 that the Singapore Exchange ordered it to delist by Feb 12. China Milk said on Jan 5 that it wouldn’t be able to meet a repayment deadline for convertible bonds due in 2012 because it was awaiting approval from China’s State Administration of Foreign Exchange. Sino-Environment, a provider of waste-treatment services, said in July that it couldn’t pay interest on $149 million of convertible bonds and asked creditors for more time to review its finances. Steelmaker FerroChina said on Dec 17 that the Singapore bourse asked it to delist after saying in October 2008 that it was unable to repay 706 million yuan of loans amid the credit crisis. Calls to the offices of China Milk, China Printing, Sino- Environment and FerroChina weren’t immediately answered.

U guys should have offload it when i put up this update. loh.............

dealer0168      ( Date: 25-Jan-2010 21:23) Posted: Becareful.....read below: Six Singapore-listed China firms can’t repay debt, SCMP says Written by Bloomberg    Monday, 25 January 2010 14:33 Six of the 11 Chinese companies listed in Singapore that sold convertible bonds between 2005 and 2008 have said they are unable to repay debts, the South China Morning Post reported, citing an investor association official. The Securities Investors Association of Singapore asked the Chinese government to discipline the companies since Singapore doesn’t have the authority to do so, Chairman David Gerald said, according to the Hong Kong-based newspaper. The association represents 4,000 small shareholders, the report said. Steel group Delong Holdings and developer Sunshine Holdings have reorganised their finances, while the other four companies are negotiating with creditors, the report said.   Delong said in September that it planned to restructure about 1.5 billion yuan ($308 million) of convertible bonds due in 2012 and Sunshine Holdings said in the same month that it reached a settlement agreement on US$120 million ($168 million) of loans.   Delong Holdings Chairman Ding Liguo didn’t return calls from Bloomberg News seeking comment today while Foo Soon Soo, joint secretary for Sunshine Holdings, declined to comment.   China Printing & Dyeing Holdings, China Milk Products Group, Sino-Environment Technology Group and FerroChina are the other companies named by the SCMP.   China Printing said Oct 26 it was in restructuring talks with a potential investor, then said Jan. 21 that the Singapore Exchange ordered it to delist by Feb 12. China Milk said on Jan 5 that it wouldn’t be able to meet a repayment deadline for convertible bonds due in 2012 because it was awaiting approval from China’s State Administration of Foreign Exchange. Sino-Environment, a provider of waste-treatment services, said in July that it couldn’t pay interest on $149 million of convertible bonds and asked creditors for more time to review its finances. Steelmaker FerroChina said on Dec 17 that the Singapore bourse asked it to delist after saying in October 2008 that it was unable to repay 706 million yuan of loans amid the credit crisis. Calls to the offices of China Milk, China Printing, Sino- Environment and FerroChina weren’t immediately answered.

I wouldn't avoid all S Chips if they are well-run, have excellent policy of returning earnings to shareholders and a strong parent company. 

Anyhow, don't base your investment decision on an analyst buy rating or forummers call. Ultimately its your money and you should be the one deciding whether is the company in good shape. Personally, I thought that the company was in a terrible state for the past 12 months based on its atrocious earnings and its failure to buy back its bonds in 1H 09 when its CB was trading below par value. I invested a small sum thinking it might be a turnaround play but when its earnings fell flat, I divested immediately. Don't ever hold on to a loser. If your company finances starts to get hit, it is best to divest.

Well said Grandmaster89. We have to be always on the lookout and determine the soundness of the company before putting our hard earned money into it.  As I said previously, once there are some irregularities on the reporting, even delay on reporting can be some tell-tale sign of something "fishy" going on. 

Sad that I did not learn this early enough to prevent losing money on some of the counters.For the time being, I will avoid S chip stocks. I have lost faith on those penny stocks of those S chip.Really Heart Pain

Whatever for now, just enjoy the CNY and be happy. In anyhow we can not do anything to salvage the situation but just have to wait for a better tomorrow.

Gong Xi Fa Cai