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Govt brought in a lot of FTs, some commit crimes, and manage to get back to countries without extradition treaty, govt popularity might stink as a result, but it is the government fault to bring in FT? Or the employers fault?
If u read the risks in the prospectus, it is stated very clearly that all their businesses are in china, without effective judicial control over.
The independent directors, unless directly involved in frauds, cannot be held reliable for the crime of others. What else can they do except raise questions? They are not shareholders, even if a EGM is called, what can they do if boss like Qingmei, Fuxing, etc has more than 50% shares.
I think it's better to learn to take care of yourself than try to get people to take care of u. Eratat red flags has been raised long enough, but they are red flags, not evidences of frauds, and if as investors u choose to invest since u like the risk reward profile, how can u blame others, since no one push the shares into your CPF Acc and minus money from your monthly pay.
Learn to identify the skills to spot risks and protect yourself is The best next thing to do IMO
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