Wednesday, March 7, 2012

The CFO quits!!!! The Chairman of the audit committee also quits!!!! What???? What????? What????

hina Ouhua Winery Announces Quarterly Losses

Last night, China Ouhua announced a shocker!
Ouhua COO, director quit after Q4 loss

Published: 2012/03/02

KUALA LUMPUR: China Ouhua Winery Holdings Ltd yesterday announced the resignations of its chief financial officer Zheng Le Le and director Tam Fook Cheong.

This came a few days after the company posted a fourth quarter net loss of almost RM7 million, against a net profit of more than RM7.3 million same quarter a year ago.

The company’s cash balances also fell during the financial year from more than RM300 million in 2010 to RM110 million, while trade receivables increased to RM228 million from a mere RM125 million a year ago.

Zheng said the resignation was due to “some personal reasons”, while Tam resigned due to heavy commitment to consultancy works. Tam was also the chairman of the audit committee prior to his resignation.

The CFO quits!!!!

The Chairman of the audit committee also quits!!!!

What???? What????? What????

Good grief!!!! How can this be happening????

How on earth could such a company be allowed to be listed in our stock exchange!!!!!


on 13th April 2011, Smartag made two quarterly earnings report. But Smartag made its listing debut on 18th April 2011. Which means those 2 set of earnings was made before Smartag was listed.

Now if I take this into consideration, since listing, Smartag had reported losses for every quarter!!!!



Yet another QUALITY-LESS company being listed on our stock exchange.



bonny b said...
Dear Moo,
It is obvious that Bursa Malaysia is turning into a ghost market. On top of all these outrageous listings, Bursa continues to prefer selective enforcement of its own rules. This last one week for instance, we witnessed Gamuda being pushed down sharply in closing trades on at least three occasions(maybe to kill off maturing call-warrants?).I don't expect Bursa to have anything to say about it.
As it is, Bursa is losing the trust of its individual investors. There is hardly any new retail investors. So, the biggest retail players are the remisiers and dealers themselves. Any newcomer will be taught a lesson on quick-time, and will soon withdraw with tail between legs.

Moolah said...
bonny b: "selective enforcement of its own rules"



March 01, 2012

Last year, a few ACE (ACE? Bah! For me, it's still MESS-daq ) stocks were listed and because of their stock performance, they caught the attention for all the wrong reasoning.

One of them was Ideal Jacobs.

The following postings were made..
Ideal Jacobs Promising Debut?
Ideal Jacobs - Stinking Up The Whole Market
Yet Another Brilliant Performance From A Newly Listed ACE Stock!
What happened was the stock opened at an incredible premium.

It IPO-ed at 27 sen. Opened at 1.05, reach a high of 1.10... and then.... the stock collapsed and by the next day the stock reached a low of 35.5 sen. ( Hmm.. what's the precise description for such a stock play? Anyone? )

What irked me was the press had the gall to hail it as a promising debut.

Three months later the company reported quarterly losses! ( see Yet Another Brilliant Performance From A Newly Listed ACE Stock! )

Last night Ideal Jacobs announced its earnings.

It lost money again!

Below is the screen shot of what they have done since listing...

Oh... Ideal Jacobs last traded yesterday at 17 sen!!!



Yet another quality listing on Bursa Malaysia!


Comeon... what's the point of listing such quality-less company in the exchange?

Is it to turn the exchange into a bigger casino?

Oh but wait... Bursa is business. It's a listed company. It has to make money!





market is in risky zone..................

keep more cash.......