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Latest Forum Topics / China Sports  Post Reply
PLACEMENT to some CHINA BLUE CHIPS DIRECTOR
doremifatso
Senior
10-Dec-2021 23:21     
 
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 Alert Admin 		https://wandering-elephant.com/2021/12/10/getting-ripped-off-by-a-china-company-lessons-learnt/
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fatpanda
Supreme
02-Jun-2021 12:46     
 
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 Alert Admin

Today' s BT newspaper.....

These " smart and qualified" personal who set the " house rules" written in " beautiful word" for their own " playground" need media to " remind/suggest" the appropriate action....  Sibei Jialat.
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fatpanda
Supreme
01-Jun-2021 21:17     
 
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 Alert Admin 		From here, we probably could see those " rules" that written in beautiful words by " qualified personal" , are probably more for " show" , rather than for " practical use" on enforcement.  So, investors here have to protect your own invesment, and not to depend on these people to " safe guard" your investment from the " conman" , especially the oversea " conman" eventhough the playing field is in their own " garden" with their " house rules" .     
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lynch80
Member
01-Jun-2021 17:16     
 
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 Alert Admin 		Newbie here and got big paper loss on Chinasports :( Any kind soul can advise how i can divest my holdings and get some money back since it has been delisted?
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cheongsl
Master
20-May-2021 16:29     
 
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 Alert Admin 		Last release in nov2017, 1st quarter revenue is at a lost of 12.6millions, after that it went into Juricial Management. No matter how bad it perform the 3.5yrs in the process of closing down and find new investor should not result in 463.1 Million Net Asset from evaporated.
How much are Juricial Management payment? where did all the remaining Net Asset go?? still required individual share holder to pay for the share certificated delivery?
 
SGX take more than 3yrs and 5mths to delisted it. SGX rules books Rule 1304, which SGX have the rights to delisted the company in 12mths and the implemented of resume proposal not complete by 6mths after the proposal, SGX also have the right to delisted the company, but both are rules are hit but China Sports is still not delisted. SGX have waived and provide extension of time 6times.
If Rule 1304 is exercise, Rule 1306, mention rule 1308 and rule 1309 must be comply.
 
From SGX Annoucement, it is indicated the issue of the release notice for delistment  is by China Sport.
 
Under Rulebook 1309 of SGX,
If an issuer is seeking to delist from the Exchange:&mdash
(1) an exit offer must be made to the issuer' s shareholders and holders of any other classes of listed securities to be delisted. The exit offer must:
(a) be fair and reasonable and
(b) include a cash alternative as the default alternative and
(2) the issuer must appoint an independent financial adviser to advise on the exit offer and the independent financial adviser must opine that the exit offer is fair and reasonable.
 
There are no exit offer provided, neither is there an independent financial adviser engaged.
 
Rule 1308 can bypass Rule 1309,1307
a) voluntary liquidation
b) an offer under the Takeover Code provided that the offeror is exercising its right of compulsory acquisition
c) a delisting pursuant to a scheme of arrangement. (Rule 1307 only)
 
For China Sport,
a) there is no liquidation done, no liquidation report provided to the shareholder.
b) there is no compulsory acquisition
c) there is scheme meeting conducted by Judicial Management Committee, the scheme of arrangement was supposed to be release not more than 6wks from 1 March2021.
Beside that Rule 1307, it is also the not applicable as there is no shareholder voting which 75% need to approve on the scheme.
 
So for China Sport case is it based on Rule 1304, which SGX exercise their power after 2yr 5mths delay. but did not ensure rule 1306, 1308 and 1309 which protect the investor interested.
 
Or it is the issuer seeking for delisted which is as per SGX annoucement website, but did not follow Rule 1307, 1308 nor 1309 delisted rules that protect the shareholder interested.
 
Which is why I see as regulatory issue? Investor interested are just being ignored.

Thi654321ABCDEF      ( Date: 20-May-2021 15:45) Posted:

If the companey not doing well for1 or 2 years , then they must sell then we will get something . This not happening.
Companies not doing well also drag , drag , drag untill zero value , issue rights , then suspend.

Thi654321ABCDEF      ( Date: 20-May-2021 15:41) Posted:

like this many chinese companies in SGX.
Many companies suspended suddenly. After that no news.
You must think first possible suspension stock of before buying china stock. Stock looks very good but inside you donot know
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Thi654321ABCDEF
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20-May-2021 15:45     
 
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 Alert Admin 		If the companey not doing well for1 or 2 years , then they must sell then we will get something . This not happening.
Companies not doing well also drag , drag , drag untill zero value , issue rights , then suspend.

Thi654321ABCDEF      ( Date: 20-May-2021 15:41) Posted:

like this many chinese companies in SGX.
Many companies suspended suddenly. After that no news.
You must think first possible suspension stock of before buying china stock. Stock looks very good but inside you donot know.

cheongsl      ( Date: 20-May-2021 11:27) Posted:

Is this a failure in SGX as a front-line regulator and operator of the securities and derivatives market and protect the shareholder that invested in SGX regulated shares?
 
The following are facts that I retrieve from the China Sport Delisting incident, pls identify if some of the information are not correct.
 
Can you imagine how much investor loss during just one regulatory issue?
 
China Sports Intl. Ltd. Listing History Line.
Total Amount of Money suck= 0.8*691.2+0.1*168.4+0.2138*120+0.009*192 = 597million SGD
 
18 Jul 2007 - Listed in SGX MainBoard @ SGD0.8 with 691.2million shares
15 Sep 2009 - 168.4Millions Rights issue @ SGD0.1
22 Jan 2010 - 120Millions Shares placement @SGD0.2138
18 Apr 2016 - Transfer to Catalist
27 Apr 2016 - 192Millions Shares placement @SGD0.009
17 Nov 2017 - Q1 Financial Report (last report seen under SGX annoucement) which report of 463.1million RMB Net Assets, which is equivalent to 41.2RMB cts.
27 Nov 2017 - Trading Halt requested by China Sport and released by SGX.
4 Dec 2017 - Suspension of Trade requested by China Sport and released by SGX.
19 Apr 2018 - China Sports board appointed and filing   interim Judicial Management(Deloitte & Touche LLP) to the court released by SGX.
27 Jul 2018 - Interim Judicial Management approved by the court released by SGX.
11 May 2021 - Mandatory delisting of China Sport on 14 May 2021, is shareholder want the share certificated need to approach Deloitte & Touche LLP (Judicial Management company) as their own cost.
 
1.  From last financial report in 17 Nov 2017 till delisted, there is no Financial report release nor audit done by SGX till now. So what is the regulator and operator role that by SGX between company and shareholder that ensure protection of minority interested.
2.  SGX as the regulator and operator allow China Sport to self appoint a third party, which is not reporting to Shareholder and SGX on the finacial status for more than 3 years, and allowing the delisting with zero cents without proper address to the issue?
3.  Why are there Franchise of Yeli Brand (China Sports owned) shoes which is still available on the search on 21 May 2021?
野 力 运 动 鞋 加 盟 野 力 运 动 鞋 代 理 加 盟 费 多 少 电 话 -商 机 品 牌 网 (zgxf.org)
What did SGX did to protect and ensure the Shareholder interest????
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Thi654321ABCDEF
Master
20-May-2021 15:41     
 
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 Alert Admin 		like this many chinese companies in SGX.
Many companies suspended suddenly. After that no news.
You must think first possible suspension stock of before buying china stock. Stock looks very good but inside you donot know.

cheongsl      ( Date: 20-May-2021 11:27) Posted:

Is this a failure in SGX as a front-line regulator and operator of the securities and derivatives market and protect the shareholder that invested in SGX regulated shares?
 
The following are facts that I retrieve from the China Sport Delisting incident, pls identify if some of the information are not correct.
 
Can you imagine how much investor loss during just one regulatory issue?
 
China Sports Intl. Ltd. Listing History Line.
Total Amount of Money suck= 0.8*691.2+0.1*168.4+0.2138*120+0.009*192 = 597million SGD
 
18 Jul 2007 - Listed in SGX MainBoard @ SGD0.8 with 691.2million shares
15 Sep 2009 - 168.4Millions Rights issue @ SGD0.1
22 Jan 2010 - 120Millions Shares placement @SGD0.2138
18 Apr 2016 - Transfer to Catalist
27 Apr 2016 - 192Millions Shares placement @SGD0.009
17 Nov 2017 - Q1 Financial Report (last report seen under SGX annoucement) which report of 463.1million RMB Net Assets, which is equivalent to 41.2RMB cts.
27 Nov 2017 - Trading Halt requested by China Sport and released by SGX.
4 Dec 2017 - Suspension of Trade requested by China Sport and released by SGX.
19 Apr 2018 - China Sports board appointed and filing   interim Judicial Management(Deloitte & Touche LLP) to the court released by SGX.
27 Jul 2018 - Interim Judicial Management approved by the court released by SGX.
11 May 2021 - Mandatory delisting of China Sport on 14 May 2021, is shareholder want the share certificated need to approach Deloitte & Touche LLP (Judicial Management company) as their own cost.
 
1.  From last financial report in 17 Nov 2017 till delisted, there is no Financial report release nor audit done by SGX till now. So what is the regulator and operator role that by SGX between company and shareholder that ensure protection of minority interested.
2.  SGX as the regulator and operator allow China Sport to self appoint a third party, which is not reporting to Shareholder and SGX on the finacial status for more than 3 years, and allowing the delisting with zero cents without proper address to the issue?
3.  Why are there Franchise of Yeli Brand (China Sports owned) shoes which is still available on the search on 21 May 2021?
野 力 运 动 鞋 加 盟 野 力 运 动 鞋 代 理 加 盟 费 多 少 电 话 -商 机 品 牌 网 (zgxf.org)
What did SGX did to protect and ensure the Shareholder interest?????

fatpanda      ( Date: 11-May-2021 23:21) Posted:

This is what the shareholders have after the donkey years of " settlement" with the mainland Chinese under the " rules/laws" of the " little red dot" , not even a " share certificate " that would deliver to shareholders and can be used as the " wall paper" in the toilet. 

Not even a " cent" left to the company shareholders....   


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fatpanda
Supreme
20-May-2021 12:15     
 
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 Alert Admin 		Now, they pushing hard on SPAC... Just look at the performance of those SPACs listed in US before you make your decision to invest. Don't follow blindly.
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fatpanda
Supreme
20-May-2021 12:03     
 
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 Alert Admin 		Now, you knows why Panda said "don't simply trust or follow" the "comments" from these "qualified personal"" after a few very painful lessons learnt from the S-Chip scandals .
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cheongsl
Master
20-May-2021 11:27     
 
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 Alert Admin 		Is this a failure in SGX as a front-line regulator and operator of the securities and derivatives market and protect the shareholder that invested in SGX regulated shares?
 
The following are facts that I retrieve from the China Sport Delisting incident, pls identify if some of the information are not correct.
 
Can you imagine how much investor loss during just one regulatory issue?
 
China Sports Intl. Ltd. Listing History Line.
Total Amount of Money suck= 0.8*691.2+0.1*168.4+0.2138*120+0.009*192 = 597million SGD
 
18 Jul 2007 - Listed in SGX MainBoard @ SGD0.8 with 691.2million shares
15 Sep 2009 - 168.4Millions Rights issue @ SGD0.1
22 Jan 2010 - 120Millions Shares placement @SGD0.2138
18 Apr 2016 - Transfer to Catalist
27 Apr 2016 - 192Millions Shares placement @SGD0.009
17 Nov 2017 - Q1 Financial Report (last report seen under SGX annoucement) which report of 463.1million RMB Net Assets, which is equivalent to 41.2RMB cts.
27 Nov 2017 - Trading Halt requested by China Sport and released by SGX.
4 Dec 2017 - Suspension of Trade requested by China Sport and released by SGX.
19 Apr 2018 - China Sports board appointed and filing   interim Judicial Management(Deloitte & Touche LLP) to the court released by SGX.
27 Jul 2018 - Interim Judicial Management approved by the court released by SGX.
11 May 2021 - Mandatory delisting of China Sport on 14 May 2021, is shareholder want the share certificated need to approach Deloitte & Touche LLP (Judicial Management company) as their own cost.
 
1.  From last financial report in 17 Nov 2017 till delisted, there is no Financial report release nor audit done by SGX till now. So what is the regulator and operator role that by SGX between company and shareholder that ensure protection of minority interested.
2.  SGX as the regulator and operator allow China Sport to self appoint a third party, which is not reporting to Shareholder and SGX on the finacial status for more than 3 years, and allowing the delisting with zero cents without proper address to the issue?
3.  Why are there Franchise of Yeli Brand (China Sports owned) shoes which is still available on the search on 21 May 2021?
野 力 运 动 鞋 加 盟 野 力 运 动 鞋 代 理 加 盟 费 多 少 电 话 -商 机 品 牌 网 (zgxf.org)
What did SGX did to protect and ensure the Shareholder interest?????

fatpanda      ( Date: 11-May-2021 23:21) Posted:

This is what the shareholders have after the donkey years of " settlement" with the mainland Chinese under the " rules/laws" of the " little red dot" , not even a " share certificate " that would deliver to shareholders and can be used as the " wall paper" in the toilet. 

Not even a " cent" left to the company shareholders....   

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fatpanda
Supreme
11-May-2021 23:21     
 
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 Alert Admin 		This is what the shareholders have after the donkey years of " settlement" with the mainland Chinese under the " rules/laws" of the " little red dot" , not even a " share certificate " that would deliver to shareholders and can be used as the " wall paper" in the toilet. 

Not even a " cent" left to the company shareholders....   
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bishalnb
Master
11-May-2021 20:32     
 
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 Alert Admin 		is there any use of the share certificate?

bishalnb      ( Date: 11-May-2021 20:31) Posted:

CHINA SPORTS INTERNATIONAL LIMITED (Under Judicial Management) (the " Company" ) (Incorporated in Bermuda) (Company Registration Number: 39798) NOTIFICATION OF DELISTING DATE
The Company refers to its announcements dated 10 July 2020, 30 July 2020, 2 September 2020, 24 September 2020, 25 September 2020, 31 October 2020, 7 December 2020, 29 March 2021, 1 April 2021, 16 April 2021 and 19 April 2021 (collectively, the " Announcements" ). Unless defined otherwise, all capitalised terms used but not defined in this announcement shall have the meanings ascribed to them in the Announcements. The Judicial Managers of the Company wish to inform as follows: As the Company has insufficient financial resources to arrange for share certificates to be printed and delivered to all shareholders, following the delisting of the Company from the SGX-ST on 14 May 2021, shareholders who wish to obtain physical share certificates may approach the Company for delivery or collection of the share certificates, at their own cost. Shareholders who have any further enquiries after the Delisting Date may contact the Company at: Contact person: Jamie Koh / Randy Pay Address: 6 Shenton Way, OUE Downtown 2, #33-00, Singapore 068809 Email: [email protected] / [email protected] 

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bishalnb
Master
11-May-2021 20:31     
 
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 Alert Admin 		CHINA SPORTS INTERNATIONAL LIMITED (Under Judicial Management) (the " Company" ) (Incorporated in Bermuda) (Company Registration Number: 39798) NOTIFICATION OF DELISTING DATE
The Company refers to its announcements dated 10 July 2020, 30 July 2020, 2 September 2020, 24 September 2020, 25 September 2020, 31 October 2020, 7 December 2020, 29 March 2021, 1 April 2021, 16 April 2021 and 19 April 2021 (collectively, the " Announcements" ). Unless defined otherwise, all capitalised terms used but not defined in this announcement shall have the meanings ascribed to them in the Announcements. The Judicial Managers of the Company wish to inform as follows: As the Company has insufficient financial resources to arrange for share certificates to be printed and delivered to all shareholders, following the delisting of the Company from the SGX-ST on 14 May 2021, shareholders who wish to obtain physical share certificates may approach the Company for delivery or collection of the share certificates, at their own cost. Shareholders who have any further enquiries after the Delisting Date may contact the Company at: Contact person: Jamie Koh / Randy Pay Address: 6 Shenton Way, OUE Downtown 2, #33-00, Singapore 068809 Email: [email protected] / [email protected] 
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Joelton
Supreme
02-Apr-2021 12:56     
 
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China Sports to be delisted after missing final deadline
MAINBOARD-LISTED China Sports International, which is under judicial management, received a notification of delisting from the Singapore Exchange (SGX) on April 1, the judicial managers said in a filing on Thursday.
 
In the notification, SGX noted that China Sports has been suspended since Dec 4, 2017. Listing rules require companies to submit a proposal to resume trading within 12 months of suspension.
 
SGX had granted six extensions for China Sports to complete a reverse takeover with Shiya Group by March, with the latest and final extension granted on Dec 4, with a deadline of March 31. The judicial managers had, on Dec 7, confirmed to the exchange that the timeline was reasonable.
 
On March 15, the company applied to SGX for a further extension of two months, till May 31, to complete the transaction, as approval for the transaction was still under review by the SGX. This application for a extension was rejected.
 
As China Sports has failed to meet the conditions under the final extension of time to complete the transaction, SGX said it will proceed to delist the company.
 
China Sports will have to provide an exit offer proposal as soon as practicable, but no later than a month from the date of the notification of delisting.
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wxp8838
Veteran
01-Apr-2021 17:40     
 
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 Alert Admin 		can get refund ?

Thi654321ABCDEF      ( Date: 01-Apr-2021 17:36) Posted:

asking extensions is a wasting time , should delist earlier and return the mney to shareholders.
Draging draging kills the shareholders value.

wxp8838      ( Date: 01-Apr-2021 17:24) Posted:

On 29 March 2021, the Company announced that its 15 March 2021 application for extension of time to complete the Transaction by 31 May 2021 had been rejected, and that the Company was required to complete the Transaction by 31 March 2021, failing which no further extensions of time would be granted and the Company would be delisted. 8. As the Company has failed to meet the waiver conditions under the final extension of time to complete the Transaction by 31 March 2021, the Exchange will proceed to delist the Company. The Company is requested to provide the Exchange with the exit offer proposal required under Listing Rule 1309 as soon as practicable but no later than one month from the date of this Notification of Delisting. Further updates and announcements would be made as and when there are material developments.
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Thi654321ABCDEF
Master
01-Apr-2021 17:36     
 
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 Alert Admin 		asking extensions is a wasting time , should delist earlier and return the mney to shareholders.
Draging draging kills the shareholders value.

wxp8838      ( Date: 01-Apr-2021 17:24) Posted:

On 29 March 2021, the Company announced that its 15 March 2021 application for extension of time to complete the Transaction by 31 May 2021 had been rejected, and that the Company was required to complete the Transaction by 31 March 2021, failing which no further extensions of time would be granted and the Company would be delisted. 8. As the Company has failed to meet the waiver conditions under the final extension of time to complete the Transaction by 31 March 2021, the Exchange will proceed to delist the Company. The Company is requested to provide the Exchange with the exit offer proposal required under Listing Rule 1309 as soon as practicable but no later than one month from the date of this Notification of Delisting. Further updates and announcements would be made as and when there are material developments.
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wxp8838
Veteran
01-Apr-2021 17:24     
 
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 Alert Admin 		On 29 March 2021, the Company announced that its 15 March 2021 application for extension of time to complete the Transaction by 31 May 2021 had been rejected, and that the Company was required to complete the Transaction by 31 March 2021, failing which no further extensions of time would be granted and the Company would be delisted. 8. As the Company has failed to meet the waiver conditions under the final extension of time to complete the Transaction by 31 March 2021, the Exchange will proceed to delist the Company. The Company is requested to provide the Exchange with the exit offer proposal required under Listing Rule 1309 as soon as practicable but no later than one month from the date of this Notification of Delisting. Further updates and announcements would be made as and when there are material developments.
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hongyuan
Senior
03-Feb-2021 21:32     
 
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 Alert Admin 		This counter i reminber OSim is one of big shareholder. Don't know why suspend so long
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des_khor
Supreme
03-Feb-2021 21:27     
 
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Yells: "Tell me who is God or Market Fortune Teller in this forum ??"
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 Alert Admin 		Just ask yourself ... if all these China companies very good ... why don?t they list at China ? Instead choose to list here ?? Corruption in China will punish to death ... here ... there are untouchable by our regulators ...
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Mk8080
Senior
03-Feb-2021 21:20     
 
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 Alert Admin 		This one danger.... 
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