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mailaileh Veteran	17-Apr-2017 13:16        mailaileh About Contact  Quote this Post!
x 0   x 0  Alert Admin	If you think the NAV is arguable but it is not fraud, don't think it will fall under SGX/MAS purview. Maybe more of the auditors/acra pasar. But auditors already issued disclaimer of opinion over going concern assumption, ie discrepancies in estimated fair value of vessels with income projected over~20years vs estimated saleable value in a liquidation. Mgmt also provided extra info during engagement for EGM. So no one could be easily blamed for the positive NTA. All your complaints will be for naught. Better luck at cutting loss next time when buying trickier names. It is not like this stock is hit by one sharp spike downwards from 0.300. So actually plenty of chance to cut loss if you have hold it from the good old days. dyingcat      ( Date: 16-Apr-2017 11:40) Posted: In this case, its nav is actually negative, but in its annual report 2016, it was stated worth abt 10 cents. We voted for the winding up proposal, on the hope we would be able to recover some, based on the nav. mailaileh      ( Date: 16-Apr-2017 00:32) Posted: http://rickmers.listedcompany.com/newsroom/20161031_134356_B1ZU_7IOGKIOA6MJ9K9RL.2.pdf​ Secured lenders lose 50-65%, MTN to lose all, Unitholders to lose all. I am not too sure what type of protection are you looking for, but this boat has sailed.
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MarcPh Senior	16-Apr-2017 18:10        MarcPh About Contact  Quote this Post!
x 0   x 0  Alert Admin	I spoke to a young MAS chap during one of my my singing sessions, who takes charge to replying " grievances" of retail investors. His role is like a police officer at police station but they will have some standard responses to tell you that your greviance has " no case" even if you complaint to the Finance Minister or Securities Industry Council. His primary job is convince you that what happened is " purely a commercial decision" , not within their purview.  Haha, don' t believe? You try  You must understand that he will still be getting his high pay no matter he unearth one or ten " failures to act in good faiths" annually.   dyingcat      ( Date: 16-Apr-2017 14:22) Posted: Yeah, SGX knows all kinds of scams are happening and retail investors lose millions of hard earned money. MAS knows too. What have they done to prevent these happening? Only issue std queries, trade with caution, but still allow them to list. Sad. We don't have a 带 头 大 哥 to express our extreme disappointment n unhappiness with SGX & MAS. HazardKoh      ( Date: 16-Apr-2017 12:30) Posted: This is what happened to S-chip. MANY s-chips and even some local ones have inflated NTA and MANY investors are conned but seems that life goes on and it is still happening ... Insider trading also another OBVIOUS violation but still happening so frequently and nothing has been done. U will see very frequently share price jump or sink BEFORE release of good or bad news. So obvious there are insider trading but so far, nothing really has been done.. The ultimate loser are the small investors but hey dun think sgx cares
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dyingcat Veteran	16-Apr-2017 14:22        dyingcat About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yeah, SGX knows all kinds of scams are happening and retail investors lose millions of hard earned money. MAS knows too. What have they done to prevent these happening? Only issue std queries, trade with caution, but still allow them to list. Sad. We don't have a 带 头 大 哥 to express our extreme disappointment n unhappiness with SGX & MAS. HazardKoh      ( Date: 16-Apr-2017 12:30) Posted: This is what happened to S-chip. MANY s-chips and even some local ones have inflated NTA and MANY investors are conned but seems that life goes on and it is still happening ... Insider trading also another OBVIOUS violation but still happening so frequently and nothing has been done. U will see very frequently share price jump or sink BEFORE release of good or bad news. So obvious there are insider trading but so far, nothing really has been done.. The ultimate loser are the small investors but hey dun think sgx cares   dyingcat      ( Date: 16-Apr-2017 11:40) Posted: In this case, its nav is actually negative, but in its annual report 2016, it was stated worth abt 10 cents. We voted for the winding up proposal, on the hope we would be able to recover some, based on the nav
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HazardKoh Master	16-Apr-2017 12:30        HazardKoh About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is what happened to S-chip. MANY s-chips and even some local ones have inflated NTA and MANY investors are conned but seems that life goes on and it is still happening ... Insider trading also another OBVIOUS violation but still happening so frequently and nothing has been done. U will see very frequently share price jump or sink BEFORE release of good or bad news. So obvious there are insider trading but so far, nothing really has been done.. The ultimate loser are the small investors but hey dun think sgx cares   dyingcat      ( Date: 16-Apr-2017 11:40) Posted: In this case, its nav is actually negative, but in its annual report 2016, it was stated worth abt 10 cents. We voted for the winding up proposal, on the hope we would be able to recover some, based on the nav. mailaileh      ( Date: 16-Apr-2017 00:32) Posted: http://rickmers.listedcompany.com/newsroom/20161031_134356_B1ZU_7IOGKIOA6MJ9K9RL.2.pdf​ Secured lenders lose 50-65%, MTN to lose all, Unitholders to lose all. I am not too sure what type of protection are you looking for, but this boat has sailed.
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dyingcat Veteran	16-Apr-2017 11:49        dyingcat About Contact  Quote this Post!
x 0   x 0  Alert Admin	But in the end we were conned. Will SGX or MAS take action against the management? I doubt so, coz we keep quiet. Similar to Swiber, Swissco, EZRA n many more. dyingcat      ( Date: 16-Apr-2017 11:40) Posted: In this case, its nav is actually negative, but in its annual report 2016, it was stated worth abt 10 cents. We voted for the winding up proposal, on the hope we would be able to recover some, based on the nav. mailaileh      ( Date: 16-Apr-2017 00:32) Posted: http://rickmers.listedcompany.com/newsroom/20161031_134356_B1ZU_7IOGKIOA6MJ9K9RL.2.pdf​ Secured lenders lose 50-65%, MTN to lose all, Unitholders to lose all. I am not too sure what type of protection are you looking for, but this boat has sailed.
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dyingcat Veteran	16-Apr-2017 11:40        dyingcat About Contact  Quote this Post!
x 0   x 0  Alert Admin	In this case, its nav is actually negative, but in its annual report 2016, it was stated worth abt 10 cents. We voted for the winding up proposal, on the hope we would be able to recover some, based on the nav. mailaileh      ( Date: 16-Apr-2017 00:32) Posted: http://rickmers.listedcompany.com/newsroom/20161031_134356_B1ZU_7IOGKIOA6MJ9K9RL.2.pdf​ Secured lenders lose 50-65%, MTN to lose all, Unitholders to lose all. I am not too sure what type of protection are you looking for, but this boat has sailed. dyingcat      ( Date: 15-Apr-2017 22:24) Posted: In the EGM last Nov, if the management made clear the consequence of liquidation, would we be stupid to vote 'for' to allow winding up? SGX didn't play its role to protect the interests of retail investors. If we still keep quiet and don't make formal petition to MAS, we'll continue suffering big loss due to share manipulating, or overstated net assets.
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enjoylife77 Veteran	16-Apr-2017 01:51        enjoylife77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	This boat had sunk.
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mailaileh Veteran	16-Apr-2017 00:32        mailaileh About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://rickmers.listedcompany.com/newsroom/20161031_134356_B1ZU_7IOGKIOA6MJ9K9RL.2.pdf​ Secured lenders lose 50-65%, MTN to lose all, Unitholders to lose all. I am not too sure what type of protection are you looking for, but this boat has sailed. dyingcat      ( Date: 15-Apr-2017 22:24) Posted: In the EGM last Nov, if the management made clear the consequence of liquidation, would we be stupid to vote 'for' to allow winding up? SGX didn't play its role to protect the interests of retail investors. If we still keep quiet and don't make formal petition to MAS, we'll continue suffering big loss due to share manipulating, or overstated net assets.
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dyingcat Veteran	15-Apr-2017 22:24        dyingcat About Contact  Quote this Post!
x 0   x 0  Alert Admin	In the EGM last Nov, if the management made clear the consequence of liquidation, would we be stupid to vote 'for' to allow winding up? SGX didn't play its role to protect the interests of retail investors. If we still keep quiet and don't make formal petition to MAS, we'll continue suffering big loss due to share manipulating, or overstated net assets.
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enjoylife77 Veteran	13-Apr-2017 22:00        enjoylife77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Beware of those who keep on recommending a counter with ulterior motive. There is another forummer by the name ISOLATOR who keeps on recommending Asiason, Blumont, Liongold and many other pennies on an obvious down trend. Look at the prices now.
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HazardKoh Master	13-Apr-2017 21:50        HazardKoh About Contact  Quote this Post!
x 0   x 0  Alert Admin	There is this guy who actively promoted Rickmers and he is very active still. http://www.sharejunction.com/sharejunction/listMessage.htm?topicId=15401& msgbdName=Insider Info/Tips& topicTitle=RICKMERS MARITIME - OVERSOLD WITH 20% YIELD HazardKoh      ( Date: 13-Apr-2017 21:49) Posted: enjoylife77      ( Date: 13-Apr-2017 21:33) Posted: Many retailers including retiree were lured by the flashy advertisement by HSBC guiding 7%+ dividend yield at both ST and BT few years ago.
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HazardKoh Master	13-Apr-2017 21:49        HazardKoh About Contact  Quote this Post!
x 0   x 0  Alert Admin	enjoylife77      ( Date: 13-Apr-2017 21:33) Posted: Many retailers including retiree were lured by the flashy advertisement by HSBC guiding 7%+ dividend yield at both ST and BT few years ago.
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enjoylife77 Veteran	13-Apr-2017 21:33        enjoylife77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Many retailers including retiree were lured by the flashy advertisement by HSBC guiding 7%+ dividend yield at both ST and BT few years ago.
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ehclim Elite	13-Apr-2017 21:12        ehclim About Contact  Quote this Post!
x 0   x 0  Alert Admin	SIAS is a toothless tiger and they really cannot do much. Don' t waste your time with them. dyingcat      ( Date: 13-Apr-2017 07:20) Posted: When unitholders voted to liquidate the trust at EGM last October, were they told they would end up getting nothing back? Can any SIAS member here complain to SIAS?
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HazardKoh Master	13-Apr-2017 18:42        HazardKoh About Contact  Quote this Post!
x 0   x 0  Alert Admin	It shows that event if a counter/company has a strong parent, when anything goes wrong, the strong parent would not hesitate to sacrifies the small shareholders.. Happening in sgx many times MarcPh      ( Date: 13-Apr-2017 15:19) Posted: Hi, the Rickmers Group did not go bust. They are the trustee manager, it' s the Rickmers Maritime Trust that went bust. Rickmers controls just about 36% of the Trust' s based on last annual report.   NextEvolution      ( Date: 13-Apr-2017 10:04) Posted: A sad story of a more than 150 years old company biting dust and what we are facing now is not even a depression or recession but just a sectorial challenge
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enjoylife77 Veteran	13-Apr-2017 18:32        enjoylife77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Lesson learned is to avoid counters with multiple class of debt. This put ordinary shareholders at an disadvantage.
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MarcPh Senior	13-Apr-2017 15:19        MarcPh About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi, the Rickmers Group did not go bust. They are the trustee manager, it' s the Rickmers Maritime Trust that went bust. Rickmers controls just about 36% of the Trust' s based on last annual report.   NextEvolution      ( Date: 13-Apr-2017 10:04) Posted: A sad story of a more than 150 years old company biting dust and what we are facing now is not even a depression or recession but just a sectorial challenge
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laksaman57 Supreme	13-Apr-2017 11:47        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Bond holder got smart this time unlike Ezra bond holder got kosong while Ezra 'escaped' to US
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NextEvolution Elite	13-Apr-2017 10:04        NextEvolution About Contact  Quote this Post!
x 0   x 0  Alert Admin	A sad story of a more than 150 years old company biting dust and what we are facing now is not even a depression or recession but just a sectorial challenge
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pnuklis Master	13-Apr-2017 09:55        pnuklis About Contact  Quote this Post!
x 0   x 0  Alert Admin	This will also be the spate of Ezra, Swissco and Swiber eventually. Bond holders get kosong and also share holders nothing at all.
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