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Post by zuolun on Apr 12, 2014 10:15:26 GMT 7
Thanks. Yes, best not touch any of these stocks even at current prices as they are likely to drift lower given the uncertainties. oldman, In terms of market capitalization losses at S$8 billion (US$6.4 billion), this ABL case should be more severe than the Pan Electric Scandal. One of the key management staffs in the Pan Electric Scandal, Tan Kok Liang convicted and jailed, happened to be my former lecturer's uncle and he claimed that his uncle was innocent, then.
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Post by oldman on Apr 12, 2014 10:21:53 GMT 7
Thanks. Yes, best not touch any of these stocks even at current prices as they are likely to drift lower given the uncertainties. oldman, In terms of market capitalization losses at S$8 billion (US$6.4 billion), this ABL case should be more severe than the Pan Electric Scandal. One of the key management staffs in the Pan Electric Scandal, Tan Kok Liang convicted and jailed, happened to be my former lecturer's uncle and he claimed that his uncle was innocent, then. I feel sorry for those investors who were sucked into the story. At the end of the day, investors must know that the stock market is best seen as a game of numbers. You must know your numbers well and you must know how the game is played. Most importantly, if you read the market wrongly, you must fold your cards and cut your losses.
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Post by stockpicker on Apr 12, 2014 10:32:07 GMT 7
oldman, In terms of market capitalization losses at S$8 billion (US$6.4 billion), this ABL case should be more severe than the Pan Electric Scandal. One of the key management staffs in the Pan Electric Scandal, Tan Kok Liang convicted and jailed, happened to be my former lecturer's uncle and he claimed that his uncle was innocent, then. I feel sorry for those investors who were sucked into the story. At the end of the day, investors must know that the stock market is best seen as a game of numbers. You must know your numbers well and you must know how the game is played. Most importantly, if you read the market wrongly, you must fold your cards and cut your losses. Used to own a paper when one buys shares but now, it is just a computer script.. wonder what will happen if this computer script is gone the next day..
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Post by oldman on Apr 12, 2014 10:37:58 GMT 7
I feel sorry for those investors who were sucked into the story. At the end of the day, investors must know that the stock market is best seen as a game of numbers. You must know your numbers well and you must know how the game is played. Most importantly, if you read the market wrongly, you must fold your cards and cut your losses. Used to own a paper when one buys shares but now, it is just a computer script.. wonder what will happen if this computer script is gone the next day.. It is still better than money.... which is both paper and script and worse, governments and banks can theoretically create as much as they want! What a world we live in. Begs the question of how real money really is......
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Post by zuolun on Apr 12, 2014 11:49:17 GMT 7
I feel sorry for those investors who were sucked into the story. At the end of the day, investors must know that the stock market is best seen as a game of numbers. You must know your numbers well and you must know how the game is played. Most importantly, if you read the market wrongly, you must fold your cards and cut your losses. oldman, My gut-feel tells me that the SGX and the MAS must have been closely monitoring the ABL and their key management staffs for many years and that they had already gathered some concrete evidence against these people. It means confirmed GAME OVER, hardcore retail gamblers bear the highest costs of the game. This ABL case reminds me of one incident... Some years ago, when I realized that I was pick-pocketed by a mother-daughter-gang at Robinson Centrepoint, I ran after the 2 but lost sight within seconds because they were real fast runners. I quickly rushed to the security guard and pointed to him the exact direction of the gang-of-2 who were last seen hurriedly rushing down an escalator. I expected some form of assistance but to my surprise, the security guard told me to keep quiet, go report loss at the admin office and he just continued doing what he did earlier, calmly. I was very angry with him then but when I stepped into the admin office, I was shocked to queue behind a super long queue of > 50 shoppers all waiting to make a report on pick-pockets! I just walked away thinking that I should call the banks and make a police report 1st as I was more worried of my IC and credit cards then. I was lucky to have made that decision because when I walked back to the scene to search the gang-of-2 one more time, the sales people found my wallet with all the cards inside except the cash. I remembered reading the newspaper later that the police caught the Vietnamese master mind and his huge gang of 30+ pick-pockets and their illegal activities in Singapore (mainly big departmental stores in Orchard road like Robinson, Isetan, Takashimaya, etc) had been closely monitored by the police for > 3 years.
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Post by zuolun on Apr 19, 2014 12:17:21 GMT 7
Highlight: High-profile exits the latest in penny stock saga — 18 Apr 2014 Mr. Lee Teck Leng was Non-Executive Independent Director of Asiasons Capital Ltd., until April 30, 2014. Mr. Lee Teck Leng joined the Company in July 2010. He is a practising lawyer with 20 years of experience. He is currently a Director in Legal Clinic LLC, a boutique litigation practice. Mr. Lee Teck Leng specialises in criminal litigation. He has acted for several companies listed on SGX, and for numerous directors and senior executives of listed companies and Government Linked Companies. Prior to joining private practice, Mr. Lee Teck Leng was a Judge in the Subordinate Courts and a Deputy Public Prosecutor in the Commercial Affairs Department. He graduated from the National University of Singapore with a Second Class (Upper Honours) Law degree on a Public Service Commission scholarship. Mr. Lee Teck Leng is currently also an Independent Director in Equation Corporation Ltd.
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Post by oldman on Jun 11, 2014 6:21:37 GMT 7
Good article in BT today entitled: The wild side of penny stocks. At the end of the day, the stock market is all about supply and demand. If an invisible hand wanted to mop up the shares and he has the financial ability to do so, the momentum that he has created can result in a foolish rush where greedy and kiasu investors pile amongst themselves to buy. These folks are really at the mercy of the invisible hands. Guess some just enjoy the adrenaline rush.
Regardless, let's enjoy the penny stock rally!
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But hefty financial losses, profit warnings, buyouts hanging on a limb and boards rattled by a raft of resignations are hardly investor magnets.
Toss in the ongoing investigation by the Commercial Affairs Department into these companies' subsidiaries and their key executives - except for Asiasons - for possible breaches of securities laws in the trading of the trio's shares and the recent spike in these counters becomes even harder to fathom.
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Post by zuolun on Sept 3, 2014 5:31:08 GMT 7
How share market crooks operate in Bursa Malaysia — 3 Sep 2014 Long slog for SGX to get rid of 'penny stock image' — 1 Sep 2014 "Who are the greatest suckers (brokerage firms) in the BAL saga?" — 31 Aug 2014 Don’t be fooled by the high trading volume in Bursa Malaysia — 23 Aug 2014 What do retail investors really want? BY R SIVANITHY 2 Sep 2014 THE Singapore penny-stock crash of October last year was a painful affair that generated widespread discussion among regulators, stockbrokers and members of the public on what went wrong, how it could have been handled better and how to prevent a recurrence. The consensus was that a huge speculative bubble had been allowed to inflate over a long period in low-priced, low-investment grade stocks with disastrous consequences once it burst. So the view which emerged was that stricter measures were needed to ensure better quality in the market and to rein in excessive speculation (and possibly manipulation). New measures were then framed such as disclosure of short-selling positions, a minimum trading price, smaller board lots and payment of collateral for purchases. All well and good except that interest in local stocks has not returned as hoped; instead, volume has dried up and retail presence is said to have all but disappeared.Meanwhile, there has been a huge penny-stock explosion on Bursa Malaysia over the past three months, where volume has ballooned from 26 billion units in June to 34 billion in July and 58 billion in August.... oldman, When the foreign BBs run road in dove and STI peaked @ 3464 points in end-May 2013, it was repeatedly reported that majority of remisiers did not have much business and their income is less than S$1,000 per month, then and now. And SGX also reported that its M-O-M trading volume had plunged drastically. This had directly proven the absence of mass participation from the general public; especially the retail players (on-line and broker-assist). Coupled with the major groups of proprietary day traders/stockists and many gullible retail players who were killed for good in the BAL saga last Oct 2013, only the house, the local fund managers and the brokerage in-house traders are busy playing among themselves in the SGX stock market, day-in-day-out. These whole groups of professional and experienced players are salaried employees who're exempted from paying commissions and their job is mainly churning and hedging their positions in the underlying blue-chip stocks with SiMSCI Futures. It's the same scenario with the US markets; active participants are mainly Central Bankers. All the US Indices can shoot to the roof, without strong supporting volume.
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Post by zuolun on Sept 13, 2014 14:51:00 GMT 7
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Post by oldman on Oct 4, 2014 6:44:38 GMT 7
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Post by zuolun on Oct 16, 2014 5:56:20 GMT 7
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Post by zuolun on Jan 31, 2016 13:52:09 GMT 7
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Post by zuolun on Feb 3, 2016 7:29:23 GMT 7
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