S-Chips selldown

CHINA FIRMS AND THEIR WOES Ocean International Ernst & Young Going concern issue raised: Unable to express an opinion on 2008 financial statements Current and total liabilities exceeded current and total assets Full-year loss China Sun Bio-chem Pricewaterhouse-Coopers (PwC) Unable to complete audit: Unable to verify the firm’s bank and cash balances, as well as trade receivable balances Unable to verify the existence of certain debtors among the accounts receivable balances recorded China EnerSave Mazars Going concern issue raised: A lack of compliance with certain covenants of credit facilities agreement with convertible bondholders Default on bank loans by a subsidiary Full-year loss Celestial NutriFoods PwC Going concern issue raised: Funding issues may arise if bondholders seek early redemption of their convertible bonds Sino-Environment Technology Group PwC Going concern issue raised: Group faces a possible change in control after its chairman defaulted on certain financial obligations. A change in control could trigger the conversion/redemption of $149m of bonds

Bro Gary and Sean, Mr Market will reward those with patience.. Hope your stock portfolio has performed in recent weeks :laugh: :laugh:

i dont know, i think im in another new set of problems now, think i may be in deep shit today.

Published January 26, 2010 Six S\'pore- listed China firms can\'t repay debt: SCMP (HONG KONG) 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. Steel group Delong Holdings Ltd and developer Sunshine Holdings Ltd 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 (S$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 of loans. Delong Holdings chairman Ding Liguo didn\'t return calls from Bloomberg News seeking comment yesterday, while Foo Soon Soo, joint secretary for Sunshine Holdings, declined to comment. China Printing & Dyeing Holdings Ltd, China Milk Products Group Ltd, Sino-Environment Technology Group Ltd and FerroChina Ltd are the other companies named by the SCMP. China Printing said on Oct 26 that it was in restructuring talks with a potential investor, and then said on Jan 21 that the Singapore Exchange ordered it to delist by Feb 12. China Milk said on Jan 5 that it would not 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 S$149 million of convertible bonds and asked creditors for more time to review its finances. Steelmaker FerroChina Ltd 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. -- Bloomberg