SunMoon Food   

E-COMMERCE ALIBABA YIGUO POTENTIAL 2020 TP 10cents

Sgx has approved sunmoon application to resume trading.


RESUMPTION OF TRADING
ENTERING INTO OF A VOLUNTARY MORATORIUM UNDERTAKING BY CONTROLLING
SHAREHOLDER


'The Company will be requesting for the resumption of trading of its Shares with effect
from 9 a.m. (Singapore time) on 30 June 2022.'

https://links.sgx.com/1.0.0/corporate-announcements/YFCVK11YVJAON1JF/722127_SMF%20-%20resumption%20for%20trading.pdf

 

This SM why allow money to be extended till 30 Dec 22 ownself already no money already!!

PhillipTan      ( Date: 13-Aug-2021 08:55) Posted: SunMoon Food' s auditor notes material uncertainty over ability to continue as a going concern The independent auditor of fruits and seafood distributor SunMoon Food Co has noted a material uncertainty regarding the group' s ability to continue as a going concern. The opinion from Nexia TS Public Accounting Corporation highlighted that as a group, SunMoon Food Co and its subsidiaries' cash flows in operating activities amounted to about S$890,000 for the financial year ended March 31, 2021. As at that date, the company' s liabilities exceeded its assets by S$472,000. These indicate a material uncertainty which may " cast significant doubt" on the ability of both the group and company to continue as going concerns, said the independent auditor' s report released on Thursday. Other key audit matters it identified include impairment assessment of the company' s investments in subsidiaries and expected credit losses of trade receivables. As at March 31, 2021, SunMoon Food Co' s investments in subsidiaries included quasi capital loans amounting to S$9.4 million. The group' s total trade receivables then was S$11.3 million, which accounted for around 67 per cent of its total assets. Another independent auditor had expressed a qualified opinion on the group' s financial statements for FY2020 due to its inability to obtain sufficient appropriate audit evidence regarding recoverability of trade receivables from related parties, as well as the nature and appropriateness of the carrying amount of advances to these parties. In a separate statement, SunMoon Food Co said that according to its management' s 18-month cash flow forecast from April 2021 to September 2022, the group will have sufficient net positive cash flow to satisfy its working capital requirements and meet its obligations as and when they fall due. SunMoon Food Co had requested a voluntary suspension in trading of its shares last October. They last traded at 3.1 Singapore cents on Oct 12, 2020.

 

Seem no much forumers interested in this stock.

 

The debtor still need time to pay it extended payment to 30 Dec 2022 . Wait another six months ..

gravity8888      ( Date: 07-Aug-2021 22:52) Posted: Seems like everything settled ..also recover the money ..y never unsuspend yet?

 

SunMoon Food' s auditor notes material uncertainty over ability to continue as a going concern

The independent auditor of fruits and seafood distributor SunMoon Food Co has noted a material uncertainty regarding the group' s ability to continue as a going concern.

The opinion from Nexia TS Public Accounting Corporation highlighted that as a group, SunMoon Food Co and its subsidiaries' cash flows in operating activities amounted to about S$890,000 for the financial year ended March 31, 2021. As at that date, the company' s liabilities exceeded its assets by S$472,000.

These indicate a material uncertainty which may " cast significant doubt" on the ability of both the group and company to continue as going concerns, said the independent auditor' s report released on Thursday.

Other key audit matters it identified include impairment assessment of the company' s investments in subsidiaries and expected credit losses of trade receivables.

As at March 31, 2021, SunMoon Food Co' s investments in subsidiaries included quasi capital loans amounting to S$9.4 million.

The group' s total trade receivables then was S$11.3 million, which accounted for around 67 per cent of its total assets.

Another independent auditor had expressed a qualified opinion on the group' s financial statements for FY2020 due to its inability to obtain sufficient appropriate audit evidence regarding recoverability of trade receivables from related parties, as well as the nature and appropriateness of the carrying amount of advances to these parties.

In a separate statement, SunMoon Food Co said that according to its management' s 18-month cash flow forecast from April 2021 to September 2022, the group will have sufficient net positive cash flow to satisfy its working capital requirements and meet its obligations as and when they fall due.

SunMoon Food Co had requested a voluntary suspension in trading of its shares last October. They last traded at 3.1 Singapore cents on Oct 12, 2020.

 

 

Seems like everything settled ..also recover the money ..y never unsuspend yet?

 

Any updates on this share?

 

Aiyo alibaba backed also can bankrupt.. s chips really Hai si Lang one

 

That is not the point. Y sgx asked the company if they want to be suspended.. They said not necessary then afternoon halt.. Hope it dun move to suspension otherwise report to CAD cos they might take that short trading period to dispose the shares.. Let hope is not

 

SGX queries them cannot stand ..how come parent filed for bankrupt we still sleeping over here ? Are we in the stone age time ?

 

Thought is halt by the company itself?

 

Maybe the company bod throw ball back to SGX, say we got " material announcement" , so SGX you decide halt or dun halt?

gravity8888      ( Date: 12-Oct-2020 16:42) Posted: If suspend.. Complain to CAD cos this morning the company said won't suspend the counter then afternoon halt

 

Oh that is bad... Anyway they will b back to square 1 without the parents.. Unless the directors pump in money

 

Like MS Global parent bankrupt....son also follow lah !

 

Anyone knows the shorted amount on SGX today? High likelihood of them not being able to cover under such sudden halt situation. Good luck 

ssw518      ( Date: 12-Oct-2020 18:02) Posted: they say no need halt cos expect orderly trade, too bad too many short, so when not in order, halt lo. This kind of cases happen so many times in other counter liao, you short you take the risk, might kana from sgx on fine if you naked short.   gravity8888      ( Date: 12-Oct-2020 16:45) Posted: U go read the announcement today.. Think point

 

But u halt u must got annoucement ma.. Can suka halt one meh

 

they say no need halt cos expect orderly trade, too bad too many short, so when not in order,
halt lo. This kind of cases happen so many times in other counter liao, you short you take the risk,
might kana from sgx on fine if you naked short.
 

gravity8888      ( Date: 12-Oct-2020 16:45) Posted: U go read the announcement today.. Think point 2 tofudidi      ( Date: 12-Oct-2020 16:42) Posted: got say wont suspend? any link

 

Hahah.. They got alibaba.. Ask them support lo

 

SGX querries them untill maybe cannot stand so better halt it and wait three days .....the company may issue right ask money from shareholders if we don' t support how ?...

gravity8888      ( Date: 12-Oct-2020 16:45) Posted: U go read the announcement today.. Think point 2 tofudidi      ( Date: 12-Oct-2020 16:42) Posted: got say wont suspend? any link

 

U go read the announcement today.. Think point 2

tofudidi      ( Date: 12-Oct-2020 16:42) Posted: got say wont suspend? any link  gravity8888      ( Date: 12-Oct-2020 16:42) Posted: If suspend.. Complain to CAD cos this morning the company said won't suspend the counter then afternoon halt