Disappointed that SGX did not give a firm answer to greenrookie to find out more about Qingmei's actual situation. This is why sometime whistleblowers are not appreciated. This also reminds me of the China Sky saga which seems to be a very hot potato for SGX to handle and I am sure they are worried if Qingmei may become another China Sky! At this moment they just hope nothing has happened in Qingmei and life goes on as usual until more people are complaining.
It is high time that SGX tightens the listing requirements for s-chips and raise the standard of our stock exchange.
Remember Mini Bond? It was only after many people went to the speaker corner did our "Da lau ye" (senior officials) came out from behind the curtain and "äsked" the financial institutions to return some of the money to certain groups of small investors.
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The letter should be addressed to the Independent Directors, and not SGX. These are Singaporeans who are collecting directors fee each year. They are answerable to the Singapore investors. Send them open letters and MAKE THEM ANSWER.
Hi Rain, talking about china sky, i am glad that the boss has agreed to a special audit after much persuasion by Mr Gerald (SIAS) and others. This is certainly good news for small investors like me and hope there is no big issue after the investigation.
I have also been closely following the posts on this forum about Qingmei as i am interested to know what is happening to another s-chip. S-chips seem to be unproportionately problematic among companies listed in SGX.
As SGX is not promising any firm action to investigate the real situation on Qingmei's affair as requested by greenrookie, perhaps those concerned about Qingmei should seek the advice and help from SIAS which is known to be fighting for the interst of small investors.
Dear Mr Su, are you busy these days? With sales down sharply in 3Q, work can't be taking up too much of your time. Wonder if you can spare some to just tell investors plainly how things are in the factory. Your machinery has been sold (as a PRC website article says)? Is the machinery just idling while waiting for orders to roar back? There must be a recovery at some point in the future -- it must be why some investors bought shares from you. A few million bucks went into your account. How is your personal situation? Yours, Jane.
Dear Rock, the transparency and willingness to be open level varies from CEO to CEO. Mr Su is obviously less willing. However, the issues are different and less clear. Dukang's case is either yes or no to delisting, but for Qingmei, well, sales were down, factory ops should be down too, but how to clarify the situation further? I don't think they have shut down completely nor sold off machinery. The latter would be stupid thing to do, because when the recovery comes, you are going to buy new m/c?
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