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ISR resume trading on March 6 Post Reply Rate topic
HappyInvestor22 Member	10-Apr-2017 13:04        HappyInvestor22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Nice sharing, thanks! Sharksaurs      ( Date: 09-Apr-2017 10:53) Posted: Just A Recap, any similar case to study from ABL saga as into these counters ??? Lawsuits shine light on Goldman?s role in Asiasons, Blumont and LionGold crash FRANKIE HO, The Edge 25 November 2013 Ipco International CEO Quah Su-Ling is taking a unit of Goldman Sachs to court for losses suffered during the collapse of Asiasons Capital, Blumont Group and LionGold Corp early last month. According to legal papers filed on Nov. 20 with the High Court in the UNK and seen by The Edge Singapore, the case revolves around a loan that Quah took from the bank to buy shares in two of these companies. Quah opened a private wealth management account with UK-incorporated Goldman Sachs International in February, with the intention of taking a loan to buy shares in LionGold. She was introduced to the bank by an investment consultant named William Chan, who heads a Singapore-based investment management firm. Under the loan agreement with Goldman, Quah initially pledged three million Asiasons shares as collateral for the credit facility. She first invested in Asiasons in 2008, and became a shareholder of Blumont shortly afterwards. With the money from Goldman, she proceeded to buy LionGold shares, which, together with her Blumont shares, were subsequently placed in her investment portfolio as collateral to extend her loan facility. As the amount and value of her LionGold shares grew over time, the size of her loan increased correspondingly. By Oct. 1, it had increased to more than $61m, from $12.4m at the time she became a Goldman client. When Blumont announced in July that it planned to raise funds through a rights issue, Quah was told she could tap her credit line from the bank to subscribe for the rights shares. She agreed to take up her full entitlement to the rights issue on Oct. 1, using the loan from Goldman, and instructed the bank on the same day to proceed accordingly. Abrupt U-turn To her surprise, the bank called her on the morning of Oct. 2 to demand that she repay her entire loan in cash by 1.30pm the same day. It?s unclear why Goldman suddenly decided to pull the credit line. By 1.37pm that day, she was served a notice of default through an email stating she had failed to meet her obligations to the bank, which proceeded immediately to sell her shares in Asiasons, Blumont and LionGold. On Oct. 2, Goldman sold 1.2m of Quah?s shares in Asiasons at $2.79 each. The following day, it sold more of her shares in Asiasons, in two batches, at $2.7524 and $2.7144 apiece respectively. In seeking to prevent more forced sales, Quah found a buyer on Oct. 3 for her shares in LionGold and Blumont. The next day, she informed Goldman about the buyer ? Vicario Investments from Hong Kong ? and instructed the bank to stop force-selling her shares. Goldman continued, however, to offload her shares on the market. On Oct. 4, before the Singapore Exchange halted trading on the three counters an hour after the opening bell, the bank sold 292,833 of Quah?s shares in Asiasons for $2.4246 each and 230,667 LionGold shares for $1.2372 apiece. By the time trading was suspended that morning, shares of Asiasons, LionGold and Blumont were down to $1.04, $0.875 and 0.88 respectively. Other casualties revealed Around that time, Quah found out that Goldman had also issued a notice of demand to three other individuals seeking payment of their outstanding loans. They include James Hong, Blumont?s executive director and Ng Su Ling, who resigned as Blumont?s independent director on Nov. 18. All three defaulted on their loan obligations, according to court documents filed by Quah?s lawyers. Ng, too is taking legal action on her own against Goldman. She tells The Edge Singapore that she signed a margin financing agreement with the bank in June. ?I have filed a claim form, which is akin to a writ in Singapore. That would mean the commencement of a lawsuit. Notice of commencement has been sent to their lawyers in Singapore.? Her case will also be heard in UK. ?I can only say at this point that the suit is in connection with agreements signed with Goldman Sachs International and Goldman Sachs Singapore. In relation to the particulars of the claim, I cannot give them to you at the moment because my solicitors are working on it. It is a personal suit,? says Ng who has hired a Queen?s Counsel and solicitors from Reynolds Porter Chamberlain LLP (RPC), a London-based corporate law firm. RPC, which has offices in the UK, Singapore and Hong Kong, is known for taking on cases involving professional negligence. Quah, too, has engaged a Queen?s Counsel to fight her case. Court papers filed by her lawyers from London-based Wiggin LLP allege a breach of duty on the part of Goldman. A breach of duty occurs when one person or company has a duty of care towards another but fails to live up to that standard. Among other things, Quah?s lawyers claim that the bank had ?perversely and irrationally threatened? the dump her investments on the open market and ......
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HappyInvestor22 Member	10-Apr-2017 10:20        HappyInvestor22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just by analysing the trade volumes now, the price shd be stablized at $0.006. Movement up or down will depend on announcements on Madagascar.
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Wind22i Supreme	09-Apr-2017 18:19        Wind22i About Contact  Quote this Post!
x 0   x 0  Alert Admin	Seems like goldman spoil the party for ABL.. For isr the party spoil after the mastermind john soh was arrested.
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Sharksaurs Senior	09-Apr-2017 10:53        Sharksaurs About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just A Recap, any similar case to study from ABL saga as into these counters ??? Lawsuits shine light on Goldman?s role in Asiasons, Blumont and LionGold crash FRANKIE HO, The Edge 25 November 2013 Ipco International CEO Quah Su-Ling is taking a unit of Goldman Sachs to court for losses suffered during the collapse of Asiasons Capital, Blumont Group and LionGold Corp early last month. According to legal papers filed on Nov. 20 with the High Court in the UNK and seen by The Edge Singapore, the case revolves around a loan that Quah took from the bank to buy shares in two of these companies. Quah opened a private wealth management account with UK-incorporated Goldman Sachs International in February, with the intention of taking a loan to buy shares in LionGold. She was introduced to the bank by an investment consultant named William Chan, who heads a Singapore-based investment management firm. Under the loan agreement with Goldman, Quah initially pledged three million Asiasons shares as collateral for the credit facility. She first invested in Asiasons in 2008, and became a shareholder of Blumont shortly afterwards. With the money from Goldman, she proceeded to buy LionGold shares, which, together with her Blumont shares, were subsequently placed in her investment portfolio as collateral to extend her loan facility. As the amount and value of her LionGold shares grew over time, the size of her loan increased correspondingly. By Oct. 1, it had increased to more than $61m, from $12.4m at the time she became a Goldman client. When Blumont announced in July that it planned to raise funds through a rights issue, Quah was told she could tap her credit line from the bank to subscribe for the rights shares. She agreed to take up her full entitlement to the rights issue on Oct. 1, using the loan from Goldman, and instructed the bank on the same day to proceed accordingly. Abrupt U-turn To her surprise, the bank called her on the morning of Oct. 2 to demand that she repay her entire loan in cash by 1.30pm the same day. It?s unclear why Goldman suddenly decided to pull the credit line. By 1.37pm that day, she was served a notice of default through an email stating she had failed to meet her obligations to the bank, which proceeded immediately to sell her shares in Asiasons, Blumont and LionGold. On Oct. 2, Goldman sold 1.2m of Quah?s shares in Asiasons at $2.79 each. The following day, it sold more of her shares in Asiasons, in two batches, at $2.7524 and $2.7144 apiece respectively. In seeking to prevent more forced sales, Quah found a buyer on Oct. 3 for her shares in LionGold and Blumont. The next day, she informed Goldman about the buyer ? Vicario Investments from Hong Kong ? and instructed the bank to stop force-selling her shares. Goldman continued, however, to offload her shares on the market. On Oct. 4, before the Singapore Exchange halted trading on the three counters an hour after the opening bell, the bank sold 292,833 of Quah?s shares in Asiasons for $2.4246 each and 230,667 LionGold shares for $1.2372 apiece. By the time trading was suspended that morning, shares of Asiasons, LionGold and Blumont were down to $1.04, $0.875 and 0.88 respectively. Other casualties revealed Around that time, Quah found out that Goldman had also issued a notice of demand to three other individuals seeking payment of their outstanding loans. They include James Hong, Blumont?s executive director and Ng Su Ling, who resigned as Blumont?s independent director on Nov. 18. All three defaulted on their loan obligations, according to court documents filed by Quah?s lawyers. Ng, too is taking legal action on her own against Goldman. She tells The Edge Singapore that she signed a margin financing agreement with the bank in June. ?I have filed a claim form, which is akin to a writ in Singapore. That would mean the commencement of a lawsuit. Notice of commencement has been sent to their lawyers in Singapore.? Her case will also be heard in UK. ?I can only say at this point that the suit is in connection with agreements signed with Goldman Sachs International and Goldman Sachs Singapore. In relation to the particulars of the claim, I cannot give them to you at the moment because my solicitors are working on it. It is a personal suit,? says Ng who has hired a Queen?s Counsel and solicitors from Reynolds Porter Chamberlain LLP (RPC), a London-based corporate law firm. RPC, which has offices in the UK, Singapore and Hong Kong, is known for taking on cases involving professional negligence. Quah, too, has engaged a Queen?s Counsel to fight her case. Court papers filed by her lawyers from London-based Wiggin LLP allege a breach of duty on the part of Goldman. A breach of duty occurs when one person or company has a duty of care towards another but fails to live up to that standard. Among other things, Quah?s lawyers claim that the bank had ?perversely and irrationally threatened? the dump her investments on the open market and ......
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ticktock Master	08-Apr-2017 14:58        ticktock About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	I think the shareholders who are still holding need to find answers if they want to hold longer. Since lifting of suspension the stock has been constantly on a downward slide with no sign of recovery. Most importantly none of the questions raised here in the interest of the minority shareholders have been answered by the current leadership. Another concern is that ISR is yet to respond to the major queries that SGX had raised about their valuation report 1st they asked for extensions and when they finally answered...SGX did not even find the answers worth publishing instead went ahead with the suspension. What was in the answer to SGX queries by ISR? IMO current leadership should provide answers in the interest of those still holding so that informed decision can be made, maybe SGX should help in getting the answers. Conversion shares are another issue, why is company flooding shares when there is no clarity on the Madagascar deal, after all the conversion is happening at the cost of the existing shareholders? Please refer to the Magnus Energy case where the company went on issuing conversion shares to the extent that minority shareholders had to go to SGX to discuss the issue, although it did little to help the share price but can be a good reference case for those planning to buy or still holding   http://guanyu9news.blogspot.sg/2016/04/new-magnus-major-shareholder-supports.html
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Wind22i Supreme	08-Apr-2017 00:30        Wind22i About Contact  Quote this Post!
x 0   x 0  Alert Admin	There were shareholders which didnt sell at 0.30 but now sell at 0.005 They shld have sold earlier ..now when low point -they shld hold it
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Thinkvest Senior	07-Apr-2017 22:26        Thinkvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	Even if Chen Tong release positive news of report price go up, if 3rd report release and SGX accept price chiong, later release agreement with China NFC price chiong, mining project take time but price can chiong like alliance. Just question of when, hope Chen Tong can help by speaking up. ken777      ( Date: 07-Apr-2017 21:09) Posted: Well if Madagascar report value is true, it might worth many penny.... but in the meantime  is one willing to hold until they start production and sale ? It may take a couple of years to see realized profit from the mining. The area clearly has no infrastructure to support mining at the moment.. but then it worth the shot if you can wait for years and a big pocket to spare seeing that it at a dirt cheap now. Just my 2 cent.... no holding interest ... infer from the reports....DYODD..... HappyInvestor22      ( Date: 07-Apr-2017 21:03) Posted: Can be anyone, the way I see it now is that prices should not increase until the next announcement by Chen Tong. People are aware that there are too many stocks awaiting in the pool to be dumped.
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HappyInvestor22 Member	07-Apr-2017 21:34        HappyInvestor22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	For people interested to invest in this stock at this moment, 1) Wait for the 3rd Valuation report which determines the future of ISR. 2) Be wary of dumping & dilution of shares by SSH & VC respectively at this critical juncture. Moving on if Madagascar deal is true, 3) One will expect rise in stock price for a moderate period based on good catalyst news after so many downsides. 4) One should expect new challenges to sustain mining in the future Those whom have invested now, you are betting on a group of investors that invested at 8.5cents to make a come back. You can only put your faith on them and continue with life. :) ken777      ( Date: 07-Apr-2017 21:09) Posted: Well if Madagascar report value is true, it might worth many penny.... but in the meantime  is one willing to hold until they start production and sale ? It may take a couple of years to see realized profit from the mining. The area clearly has no infrastructure to support mining at the moment.. but then it worth the shot if you can wait for years and a big pocket to spare seeing that it at a dirt cheap now. Just my 2 cent.... no holding interest ... infer from the reports....DYODD..... HappyInvestor22      ( Date: 07-Apr-2017 21:03) Posted: Can be anyone, the way I see it now is that prices should not increase until the next announcement by Chen Tong. People are aware that there are too many stocks awaiting in the pool to be dumped.
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checkmate Member	07-Apr-2017 21:28        checkmate About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just queued 1mil shares at 0.1 cents. Just treat it as buying Toto. ^.^
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ken777 Veteran	07-Apr-2017 21:09        ken777 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well if Madagascar report value is true, it might worth many penny.... but in the meantime  is one willing to hold until they start production and sale ? It may take a couple of years to see realized profit from the mining. The area clearly has no infrastructure to support mining at the moment.. but then it worth the shot if you can wait for years and a big pocket to spare seeing that it at a dirt cheap now. Just my 2 cent.... no holding interest ... infer from the reports....DYODD..... HappyInvestor22      ( Date: 07-Apr-2017 21:03) Posted: Can be anyone, the way I see it now is that prices should not increase until the next announcement by Chen Tong. People are aware that there are too many stocks awaiting in the pool to be dumped. dyingcat      ( Date: 07-Apr-2017 19:59) Posted: Wonder who dumped a few million of shares at 0.005 at closing time. VC, Ooi or contra retailers?
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HappyInvestor22 Member	07-Apr-2017 21:03        HappyInvestor22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can be anyone, the way I see it now is that prices should not increase until the next announcement by Chen Tong. People are aware that there are too many stocks awaiting in the pool to be dumped. dyingcat      ( Date: 07-Apr-2017 19:59) Posted: Wonder who dumped a few million of shares at 0.005 at closing time. VC, Ooi or contra retailers?
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dyingcat Veteran	07-Apr-2017 19:59        dyingcat About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wonder who dumped a few million of shares at 0.005 at closing time. VC, Ooi or contra retailers?
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zillion Master	07-Apr-2017 12:35        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	how high is your price? not goner but hold long longer longest term. freckles*.*      ( Date: 07-Apr-2017 12:16) Posted: For myself. Cos I bought at high price.. :( HappyInvestor22      ( Date: 07-Apr-2017 12:14) Posted: Mind justifying yourself? :
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freckles*.* Senior	07-Apr-2017 12:33        freckles*.* About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thank you Happy..^.^ HappyInvestor22      ( Date: 07-Apr-2017 12:23) Posted: There's still potential despite the present outlook, the Madagadcar episode is not over yet. Cheer up. What's more important now, it's to focus in life, and go on. $$$ can be earned back. freckles*.*      ( Date: 07-Apr-2017 12:16) Posted: For myself. Cos I bought at high price.. :
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HappyInvestor22 Member	07-Apr-2017 12:23        HappyInvestor22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	There's still potential despite the present outlook, the Madagadcar episode is not over yet. Cheer up. What's more important now, it's to focus in life, and go on. $$$ can be earned back. freckles*.*      ( Date: 07-Apr-2017 12:16) Posted: For myself. Cos I bought at high price.. :( HappyInvestor22      ( Date: 07-Apr-2017 12:14) Posted: Mind justifying yourself? :
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freckles*.* Senior	07-Apr-2017 12:16        freckles*.* About Contact  Quote this Post!
x 0   x 0  Alert Admin	For myself. Cos I bought at high price.. :( HappyInvestor22      ( Date: 07-Apr-2017 12:14) Posted: Mind justifying yourself? :) freckles*.*      ( Date: 07-Apr-2017 11:18) Posted: Goner...
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HappyInvestor22 Member	07-Apr-2017 12:14        HappyInvestor22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Mind justifying yourself? :) freckles*.*      ( Date: 07-Apr-2017 11:18) Posted: Goner...
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freckles*.* Senior	07-Apr-2017 11:18        freckles*.* About Contact  Quote this Post!
x 0   x 0  Alert Admin	Goner...
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Thinkvest Senior	07-Apr-2017 08:57        Thinkvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	Still hope for company that' s why lift suspension, 3rd valuation report to confirm.Think shud add CB shares slow thru the year as money for full year.
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HappyInvestor22 Member	07-Apr-2017 00:34        HappyInvestor22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yeah, awaiting for their 3rd Valuation report. That will be the key to the future of ISR. zillion      ( Date: 06-Apr-2017 22:13) Posted: sgx questioned the price to pay $40m to buy 60% stake in tantalum. so the madagascar deal is already in their hands but they need to raise $$$ via issue of new shares at 0.10 (sgx announcement). sgx questioned how reliable is the 2nd report which appeared that many parts are duplicates of the first report. Private placement came in of which CT is the veteran. to satisfy sgx they are getting a 3rd report. ticktock      ( Date: 06-Apr-2017 08:49) Posted: Yes too early still not down to .001...If Madagascar deal is happening or the share price can go up the first person to buy should be Chen Tong...is he?
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