China Gaoxian

Symphathetic for those who have so much faith in this counter. Somehow it smells fishy and had off loaded the stock but never never expected  it could be due to some audit problems.  Hope nothing serious compared to the previous China Aviation's case. Many doubts on the due diligence tests when it was listed here and over at the recent trading in KDRs.
What's the point of leaving the company seals under the hands of these Chinese legal representatives who they can dishonestly and misuse the funds raised here, a big loophole in the balance and check mechanism.
Instead should leave these S-Companies' seals here together with " Sealing any deals with their hands" in Singapore. Counter approval and scrutiny by the independent directors and the AC before any utilisation and transfer of funds are necessay to control any abusing of power.  Maybe the SGX could be more stringent in its listing procedures to ensure all these practises are outlined in the articles of these companies from China, and as part of its due diligence study.  So many inexcuseable reasons and failures of these listed S-"Sour" Chinese companies already.

Hongxing, Hongwei & Gaoxian -- 3 S-chips kena from same auditor, E&Y.

Will these highly paid auditors be the heroes who banish villains? Or will they be the jokers who cried wolf?

Does anyone know if it is true that UOB Kayhian suspended margin trading for Gaoxian on Monday? If it is true, what could have prompted the stockbroker to do so?

www.terryteo.com/2010/03/how-solid-are-a...reputable-firms.html read the last two para of the above link. Teh Hooi Ling was spot on what happened this year.

hongsan says: Looking at today's latest development, I am confident that the company is trying to get it's suspension lifted. They seem serious enough to address the problem from their auditors, Ernst & Young. Look at China Milk, even their Directors have run away and can't be contacted. Gaoxian is more serious because they worked hard to get listed in Korea too and best of all, none of the Executives have tender to resign meaning all of them believe that they have not commit any commercial crime while working with the company. Non of them are running away from their duty. This is a good sign, you know. I am sure the shares will start to trade again once the auditor realise they being too harsh on Gaoxian. We could see the shares start to trade again before the next AGM.

Hi abb, could u clarify on who is "hongsan".....