| Latest Forum Topics / YuuZoo Networks |
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Yuuzoo - The truth must be revealed!
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Wind22i
Supreme |
18-Mar-2019 19:47
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This is another case of value destruction..
How the hell they can be listed in the first place and who audited and signoff their account for so many years 😀 |
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bigdragon966
Senior |
18-Mar-2019 19:36
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from edge: ==== 
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Starship
Supreme |
18-Mar-2019 19:02
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More twists and turns in Little Red Dot' s Most Favorite ZOO..............    Confusion over whether or not YuuZoo' s S' pore CEO Mohandas continues to hold any role MON, MAR 18, 2019 - 11:45 AM CONFUSION has arisen over whether or not YuuZoo' s Singapore CEO Mohandas, who goes by one name, continues to hold any role in the company. Refuting an SGX announcement on Monday morning designating him as a non-executive director of the company, Mr Mohandas said he no longer holds any...................(BT Premium Content)  |
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Starship
Supreme |
18-Mar-2019 18:27
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And he needs to go for SGX Training too........................ " Mr Mohandas will undertake the relevant courses conducted by the SGX-ST or any other organisation which provides relevant training courses for the directors. In addition, appropriate briefing and training will be provided to Mr Mohandas in respect of the roles and responsibilities of a director of a listed company." 
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Shifu8888
Supreme |
18-Mar-2019 17:23
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Normally for sgx announcements will need all directors to sign. If applicable for yuuzoo, I am surprised Christopher Cheong endorses this announcement. Otherwise, I bet he will be the next to throw in letter and leave.
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bigdragon966
Senior |
18-Mar-2019 16:22
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found this from company register: mohandas has no surname and lives in blk 155 toa payoh. he is the only ceo in the world without surname?  |
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enjoylife77
Veteran |
18-Mar-2019 15:02
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Another retailer' s darling got their investment burnt? | ||
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eric998
Supreme |
18-Mar-2019 14:51
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first time heard that business cannot go on due to shares suspension.. revenue comes from shares trading? anyway banks dont allow banking may be due to some serious concerns.. for example money laundering, etc.. | ||
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Morello
Veteran |
18-Mar-2019 14:40
Yells: "In it for the long haul" |
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suspended counter, they cannot raise new funds (pg 2 of annc). Likely no other sources of funds - raises more questions on their biz model. Why banks would refuse opening of acc also can' t be due to trading suspension. Seems to be putting all blame on regulator' s actions. Poorly constructed annc. WIll draw more rebukes and queries for sure.
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bayduck
Member |
18-Mar-2019 14:34
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Totally agree with your sensible reply. Most investors like to blame everyone else but themselves when investments go awry. The opposite is also true - when investments do go well, it' s solely attributable to their " brilliance" .
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investshare
Supreme |
18-Mar-2019 13:02
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Sgx not take action, ppl complain.
Sgx take action, ppl also complain. |
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bigdragon966
Senior |
18-Mar-2019 12:43
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not from sgx. all singapore banks are aware of this company and the famous tarzan, no bank wants to associate with them.
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s100125
Elite |
18-Mar-2019 12:14
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YUUZOO Networks Group (YNG) Corp, formerly YuuZoo Corporation, is closing all its Singapore-based subsidiaries and terminating all Singapore-based employees. This was a &ldquo direct consequence&rdquo of its trading suspension, the mainboard-listed company said in a regulatory filing submitted just before the market opened on Monday. | ||
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sheerluck
Supreme |
18-Mar-2019 12:11
Yells: "Work for your money first then let your money work for you" |
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They just trying to tell stories. Bad story-tellers. No logic all roti prata.
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Superkilat
Elite |
18-Mar-2019 12:09
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SGX is being unfair to us as shareholders. Why bank account cannot be opened. Like that is pushing the company to die. Should lift the trading suspension for interested parties to buy out. | ||
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Starship
Supreme |
18-Mar-2019 11:32
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Even the Alpha Male is Going Once................Going Twice...................GONE................ Re-designation of Mohandas from Executive Chairman to Non-Executive Director of the Company 18/03/2019 he Board of Directors has reviewed the professional qualification and extensive working experience of Mr Mohandas, currently our Executive Chairman and CEO, having considered the recommendation of the Nominating Committee, is of the view that the appointment of Mr Mohandas as our Non-Executive Director is appropriate. Mr Mohandas will undertake the relevant courses conducted by the SGX-ST or any other organisation which provides relevant training courses for the directors. In addition, appropriate briefing and training will be provided to Mr Mohandas in respect of the roles and responsibilities of a director of a listed company. https://links.sgx.com/1.0.0/corporate-announcements/WS41Q5ABJFD8OMAQ/b68ab1d61085b2df0f57596c5ef390ffbde5647fa2dedbdbe0c85b77b336669c  |
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Shifu8888
Supreme |
18-Mar-2019 11:19
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Stampede......
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Shifu8888
Supreme |
18-Mar-2019 11:18
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Blaming the heavens and blaming the hell but not blame ownself....
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Starship
Supreme |
18-Mar-2019 10:55
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This ZOO is Running Wild...........................Running Amok................ YuuZoo quits office with unsettled rents CEO resigns over unpaid salary MON, MAR 18, 2019 - 5:50 AM MORE trouble appears to be brewing at YuuZoo Networks Group Corp (formerly YuuZoo Corporation) as the social media company vacates its flagship office at the iconic 20 Science Park Road, Teletech Park, in Singapore without settling its rent. This comes several days after............................ (BT Premium News) https://www.businesstimes.com.sg/companies-markets/yuuzoo-quits-office-with-unsettled-rents-ceo-resigns-over-unpaid-salary YuuZoo CEO quits, citing trading suspension will keep board seat SUN, MAR 17, 2019 - 10:43 PM THE March 5 resignation of YuuZoo Networks Group Corp' s chief executive will take effect on Monday morning, the scandal-hit company said in a bourse filing late on Sunday night. Mohandas, who goes by only one name, will continue to serve on the board, the company disclosed. It said that Mr Mohandas resigned because YuuZoo is " unable to continue Singapore operations due to continuing share-trading suspension" . It added that there are no unresolved differences in opinion on material matters between Mr Mohandas and the board, nor related matters that should be flagged for investors. Trading in the shares of YuuZoo, which was previously known as YuuZoo Corp, was suspended by the bourse operator in March 2018. The company' s offices were raided by the Commercial Affairs Department soon after, in a probe into possible breaches of Singapore' s Securities and Futures Act. Mr Mohandas officially tendered his resignation on March 5, a day after it was accepted by his fellow directors at a board meeting, according to the YuuZoo announcement. The departure of Mr Mohandas - YuuZoo' s former chief operating officer, who was named CEO in April 2018 after more than a year with the company' s hot seat vacant - is the seventh senior exit in a year. Meanwhile, accountant Su Chun Keat, 43, has been appointed an independent director of YuuZoo and chairman of its audit committee, according to a separate filing from YuuZoo, also on Sunday night. https://www.businesstimes.com.sg/companies-markets/yuuzoo-ceo-quits-citing-trading-suspension-will-keep-board-seat 
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Starship
Supreme |
18-Mar-2019 10:14
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PRESS RELEASE FOR IMMEDIATE RELEASE Continued share trading suspension forces YNG Corporation to close all Singapore-based subsidiaries, Singaporean CEO resigns Singapore, March 18th 2019: YNG Corporation (" YNG" or " the Company" ) the SGX main boardlisted investments holding company, today announced that it has been forced to close all of its Singapore-based subsidiaries and terminate the employment agreements of all of its Singaporebased employees. The Company says the decision is a direct consequence of what happened soon one year ago. Starting in March 2018, SGX first decided to suspend the trading in YuuZoo&rsquo s shares after YuuZoo&rsquo s then auditor RT LLP failed to reply to two questions posed by SGX, then asked CAD to commence an investigation of the Company. Around the same time Singapore&rsquo s tax authority IRAS seized all cash funds that were held in the Singapore bank account of YuuZoo Corporation, a fully owned subsidiary of YNG Corporation. After RT LLP failed to reply to SGX and after SGX refused to accept a reply from YNG Corp, the Company itself took action that would have enabled the trading of YNG&rsquo s shares to continue on the fair, orderly and transparent basis SGX had required. This however did not result in the lifting of the trading suspension by SGX, and SGX instead asked CAD to commence an investigation into the Company. The CAD investigation, which soon has been going on for a full year, has not revealed any wrongdoing by the Company. This is as expected, as the Company since the beginning of the investigation has shown it has not committed any breach of the rules SGX asked CAD to investigate. Some months after IRAS had seized all the cash funds held in the Singapore account of YuuZoo Corporation, IRAS admitted that YuuZoo Corporation did not owe IRAS any taxes. IRAS therefore returned the money in a cheque issued to YuuZoo Corporation. In the meantime the Singapore bank where the account was held had however decided to close YuuZoo&rsquo s account, and refused to open a new account for the Company. As a result of the closure of its bank account and IRAS&rsquo refusal to return the money to another Company account, the Company is still unable to access any of the money that IRAS soon one year ago seized and then returned. The Company has therefore been unable to pay local salaries, including that of its Singaporean CEO, who as a result has been forced to resign. A spokesperson for YNG Corporation says: &ldquo Our commitment to Singapore remains strong. The continuation of the operations in Singapore has however been made impossible by the seizure of all funds, the refusal by IRAS to return them in a manner that would enable the Company to make use of them, the continuation of the SGX-imposed share suspension and the SGXrequested CAD investigation. All of this has had a deeply negative impact on YNG&rsquo s business operations. It has resulted in all Singapore-based banks that the Company has contacted refusing to open a bank account for the Company and has made it impossible for the Company to raise new funds. The Company will continue its operations from other offices around the world. The Company has written to SGX requesting a lifting of the share trading suspension to allow the Company to raise new funds that already have been committed, and to allow the shareholders of YNG Corporation to make their own decisions on whether to sell, hold or buy shares in the Company&rdquo . https://links.sgx.com/FileOpen/Continued%20share%20trading%20suspension%20forces%20YNG%20Corp%20to%20close%20Singapore%20operations.ashx?App=Announcement& FileID=547616 |
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