CHINA FIBRETECH . A multi-bagger you can't ignore

pls ask management what specific plans they have to increase revenue and profit. Also, why did they only buy back 100,000 shares worth $3,500 and not more? Since they have so much cash, what about paying a special dividend? THe building that they have already laid the foundation and have stop construction, what do they intend to do about it? Thanks

Gentlemen, any updates from AGM?

Dear Lisa & all, NextInsight will publish a report tmrw at 1pm. Look out for it.
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[lisa 30-04-2012]:
Gentlemen, any updates from AGM?

Thanks to Admin for reporting C Fibretech AGM.  Pathetic only half dozen or so shareholders attended.  I wish I was there to see Jason Wee grille the CEO/Mgt. Just from this report you can gauge the direction of the company.
I take the financials  in the annual reports on face value if they are signed off by a reputable auditor otherwise I should only buy blue chips. Hence I have to believe the cash is there at the time when the external audit was done , which is end of 2011.
When asked why they need to keep so much cash , the mgt said they may go upstream or downstream. This is what I fear most in S-Chips, namely CEOs who are not competent enough to venture into biz outside their areas of expertise just because they have a cash hoard in front of them.  

The link to the China FibreTech AGM is found here [url=http://www.nextinsight.net
/story-archive-mainmenu-60/916-2012/5211-china-fibretech-qits-ridiculous-that-the-market-is-pricing-it-at-less-than-4-centsq] nextinsight.net/index.php/story-archive-...t-less-than-4-centsq [/url]
After reading the article, these are my thoughts.  In the article, it is stated that Jason Wee (a shareholder and a former top-notch analyst) was voicing out the discontentment of all minority shareholders. My sincere thanks to him for helping out with the minority shareholders.  Yes, he got some answers from management.  Cash hoard is for M&A activities either upstream and downstream.  Dividend is elusive.  Even the Independent Director cannot do anything.  May I ask the purpose of the ID, is he there to assist minority shareholders or to make sure that the Company is running well?  Given that, does he think that having such a huge cash hoard is justified? 
So after speaking out, what can minority shareholders do?
Minority shareholders have a mini-victory at AGM? Shiok only.  So now what? 
 

management has completely no idea how to go forward to increase sales and profit. 'upstream OR downstream'? they can't even decide. clueless. i am glad i got out. whatever cash is there, it will be squandered instead of contributing to shareholders' equity. it's a matter of time.Again, what do you do with a rotten apple?