Orchard Gate
02 Nov 2015
Filthy Forty There is a popular share blog/web site which earlier this year identified 40 Chinese companies listed on AiM and predicted that at least 20 would disappear or be kicked off by the end of the year. They also named some which they considered to be frauds.So far, 15 have indeed been removed from AiM and another 2 are suspended and likely to follow suit. Will the target of 20 exits be reached? We'll see.Amongst the companies which that site described as frauds were Naibu, CamKids and Jiasen. The first two have subsequently been revealed as .. you guessed it ... complete frauds from start to finish. Will JSI be the next shoe to drop?
LoadsaDosh2
14 Oct 2015
Re: 12 down .... "investment geniuos loadsadosh2" the same that tipped you REDD and MCB which have both doubled and made me loadsa dosh in 6 months; more than you've made in years with your post office savings account.
Orchard Gate
14 Oct 2015
Re: 12 down .... So you didn't hold the shares when they declared the divi in July 2014 then (even though you said you received it) because if you had your purchase price would be more than 10x the price you now claim.If we're engaging in fantasy trades not ever mentioned here at the time then I shorted this heap at 88p.Why do you think a divi has any bearing on whether it might be a fraud or not? The other China frauds also paid divis - in fact at one stage or investment genius Lodsadosh was urging people to buy Naibu because it yielded over 60%, seemingly not stopping to think something might be wrong.And you still haven't explained how a company which you say has just £60k of debt paid over £400k in interest last year.
fast sailor
13 Oct 2015
Re: 12 down .... Invested at high 7's to low 5;smy return on thursday will be just shy of 10%but being a sham it won't be paidtop slicing MOS in the morning to purchase another 100,000 and collect the diviw
Orchard Gate
13 Oct 2015
Re: 12 down .... I love the fact that you're bragging about having collected a 1.5p div paid in Dec 14. The ex date for which was 30 July 14 at which time the shares were changing hands at 88p having fallen steadily to that level.So in other words you paid a minimum of 88p for your shares, and you're down at least 94%. But let's not worry about that as you got a dividend! Ever heard of total return calculations? Or IRR?Maybe I could sell you some shares. I promise to pay you a dividend. But you won't get your investment back. How does that sound?Some people deserve to lose their money.
fast sailor
12 Oct 2015
Re: 12 down .... how many are still listed how many companies are deceased after 2007 in the uk and the banking crisis hereI will keep making money and collecting dividends Many feel the valuations do not work for them just like virgin did and chrysalisOh and up 9% - I assume your portfolio is doing so much betterw
Orchard Gate
12 Oct 2015
12 down .... .... more to follow.China Chaintek (CTEK) was formally expelled from AIM this morning, making it the twelfth Chinese company to be kicked off. CamKids will soon follow. How long before China Rerun and JSI join them?
Orchard Gate
12 Oct 2015
China comedy As an aside, if you'd like some Chinese fraud comedy gold, try reading the RNS issued last week by China Rerun (is that how they pronounce 'we run' as in 'we run away with money from stupid round eyes'?). I think it's the funniest RNS I've ever seen.[link]
Orchard Gate
12 Oct 2015
Re: W T F?!?!?!? All these Chinese frauds begin to look the same, just like all the muppetos like you who recommend them.Perhaps you could explain to people on this board why you think it is impossible for JSI to be a fraud because it has audited accounts. We all enjoyed that bit of 'logic' on the naibu BB
LoadsaDosh2
12 Oct 2015
Re: W T F?!?!?!? CamTek? Must have missed that one or are you going senile old boy?
Orchard Gate
12 Oct 2015
Re: W T F?!?!?!? You make it sound like paying a div is a very rare thing. Most companies pay one (all of my shares with a single exception).the way, Naibu and CamTek both paid dividends before being exposed as frauds.
fast sailor
11 Oct 2015
Re: W T F?!?!?!? Did you miss the 1.5p in December Did you miss the 3.85p in June Are you going to miss the 0.5p next weekHow many companies are you invested in paying a dividendOh and you made a mistake - reallyI will just collect the dividends w
Orchard Gate
11 Oct 2015
Sunday Times from today's Sunday Times ....AIM's China crisis casts a shadow over birthday partyIN EARLY January, the directors of Chinese sportswear supplier Naibu Global were in a state of panic. The company's non-executive directors, gathered in London, had to update the stock market about their latest sales figures, but had run into a serious problem. Their fellow board members, 7,500 miles away in China's Fujian province, had vanished.On Friday January 9, Naibu was suspended from AIM, London's junior market. A month later, the business told investors that two key executives, Lin Huoyan and Lin Congdeng, had failed to update them about trading. June, the company was kicked off the stock market.Naibu is one of several Chinese companies suspended or delisted in London this year, as concerns grow over the governance of London's growth market. Despite efforts by Naibu's British directors and an investigation by KPMG, the company's investors were left counting the cost after it was delisted. Shareholders were stuck with stakes in a private company based on the southeastern coast of China, a world away from the stock exchange's City home.The number of Chinese companies on AIM is dropping rapidly, with more than a dozen suspended or delisted in the past year. Last week, China Rerun Chemical Group was suspended after its nominated adviser - known as a nomad - resigned. Cairn Financial Advisers quit after they claimed management refused to allow an independent review into the business. The company's Chinese executives issued a rebuttal on Friday morning, publicly criticising their nomad and British non-executive directors.Nomads aren't forced to tell the market why they have resigned, and in most cases they don't, for fear of litigation, market sources said.China Chaintek, a sports-shoe logistics company, was suspended last month after a disagreement about a board overhaul. Three British non-executives resigned, and the company will be struck off if it fails to find a new nomad. A source close to the company claimed there was a "flagrant lack of corporate governance" at the firm.Children's clothing company Camkids was also suspended from AIM late last month, after its nomad resigned over plans to hand most of its cash to distributors. Beijing internet software provider Geong was suspended the same week after it failed to file its accounts on time.For several years, the exchange has courted Chinese companies. China Chaintek, Naibu and Camkids are all from the Fujian province - three years ago, a veteran London stockbroker boarded a flight to China to check on the region's businesses. On his travels, he visited Naibu."It was your typical Chinese factory," he said. "Three storeys high and down a back alley. It did not look like a company that made a £15m profit. Far from it. The products were cheap and nasty ... stitching was coming off the sides of the trainers." He decided against acting for the company and flew home.Others were more obliging. City broker Daniel Stewart took Naibu public months later in April 2012.The recent cases of Chinese companies being suspended or kicked out of AIM highlight growing concerns that the exchange is vulnerable to abuse. AIM companies pay nomads to handle their corporate governance, and nomads are mainly responsible for regulating them. The nomads are overseen by a team within the London Stock Exchange.The exchange's China problem has escalated in the year that it toasts its 20th anniversary. Last week, AIM's top companies gathered for a gala ceremony at London's Old Billingsgate Market, with tables costing £3,000 each. In its two decades, it has had plenty of winning stocks. Asos, which started out as retailer As Seen on Screen, has grown into a £2.4bn online giant. Some Chinese companies have also performed strongly, including Hutchison China Meditech, a pharmaceuticals firm backed by Hong Kong billionaire Li Ka-shing.But AIM's big anniversary risks being
Orchard Gate
11 Oct 2015
Re: W T F?!?!?!? Apologies, it was "fast sailor" and not you who claimed JSI has just 60k of debt. My mistake. Nevertheless, why is a supposedly cash rich company paying ~ £450,000 a year in bank interest?
Orchard Gate
10 Oct 2015
Re: W T F?!?!?!? "Of course OG doesn't hold stock - he is shorting JSI in the hope that his constant 100% negative comment after comment will drive the price down to his advantage."I guess you can believe whatever fantasies you wish but believe me if I had shorted JSI I'd be proud to say so. Sadly I didn't. If you're one of those dullards who thinks by posting bullish comments you can drive the share price up I can only feel sorry for you - nothing you or I say here moves the price. Do you think I was short of Naibu and CamKids too? I'd be a lot richer if that were true. JSI has fallen over 90% in 12 months for a reason.Maths must be your strong point if you think it has just £60k of debt (as you said) but paid over £400k in interest. Time to take your socks off, perhaps.
