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This is a very serious governance issue that company money can be withdrawn without approval. If someone take away something without approval it can be considered as stolen. Even company board does not have power or control to stop it. In this case there is no material impact because company owe money to the party who took without authorization. It means the party has the means to take money with or without owing money to the company.
Current board has over thrown previous board with promise of building control, transparency. Now with another potential over throw, it has potential to follow footsteps many other S-Chips like CACOLA.
Current board has over thrown previous board with promise of building control, transparency. Now with another potential over throw, it has potential to follow footsteps many other S-Chips like CACOLA.
The unauthorised withdrawal has no material impact to the company finances as its money owe to him so the company will offset from the amount due . Now 2 parties are trying to control the company .
Huchin ( Date: 20-Nov-2017 15:35) Posted:
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I though Mr Luo was responsible for unauthorised withdrawing. Will he now make the company bankrupt once taken over?
I think can Chiong up 9-10c once Mr Luo Shandong completed settle internally 🤔
WL123456 ( Date: 20-Nov-2017 12:50) Posted:
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True , now that they are doing well in Myanmar , suddenly everyone is interested in taking control over the company .
n3wbie ( Date: 20-Nov-2017 11:16) Posted:
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it is probably a good thing to keep the company suspended till all the corporate developments clear up. prevents unnecessary share price volatility.
They are fighting for the company. Maybe this will cause the share price to rise .
Observers ( Date: 20-Nov-2017 09:48) Posted:
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Jialat suspended.
Another gone case stock....thumbs down!
What so bright about it? This quater it has net loss of SGD3,035,000.00. Main shareholder " LUO SHANDONG" sold off 10% of his holding.
Emerging Towns & Cities Singapore Ltd. reported unaudited group earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of SGD 10,053,000 compared to SGD 5,228,000 a year ago. Profit before taxation was SGD 4,005,000 against loss before taxation was SGD 298,000 a year ago. Profit for the period was SGD 2,702,000 against loss for the period was SGD 541,000 a year ago. Profit attributable to owners of the company was SGD 1,010,000 compared to loss attributable to owners of the company was SGD 697,000 a year ago. Net cash used in generated from operating activities of SGD 3,492,000 compared to net cash from operating activities of SGD 2,133,000 a year ago. Purchase of plant and equipment was SGD 33,00