Why I don't buy China stocks on SGX

[LauKow]

An account from an individual who got burnt by another Chinese con-job, China Paper.

I remember once being in the presence of a former top remisier cum trader who lost heavily in the debacle of Clob meltdown. He was into margin trading, easily holding millions of dollars of Clob shares that turned into "nothing" and resulted in his big debts. Then he had to slog into many jobs to make ends meet. There was another top player whom I met driving a taxi and he recalled this period with much lamentations and sighs. He too lost everything. There were easily many stories of that generation of stock players as Clob shares dominated the stock market back then. There was no way not to play Singapore stock market if you do not engage in Clob shares.

The Clob fiasco was a result of Singapore government insisting that the local exchange had a right and it was safe to trade in Malaysian shares in Singapore system. Back in the nineties and eighties, Clob shares was the rage. It was a period of ruin for many who lost almost "everything" when the Malaysian government decided to "screw" the Singaporean investors and traders as it made the decision that all stock trading in their counters outside Malaysia is illegal. The Malaysian government did it when it realised that the Singapore government was not going to help in bailout funds with "no strings attached'. So it had its revenge by undertaking this action on Clob shares and Singapore stock investors in Clob shares were "forced" to sell them at a pittance to a holding company who scooped it all up at a very huge discount to resell them in Malaysia and this holding company was linked to the very top in Malaysian government - Dr Mahathir and his kaki, the finance minister dude, Daim. We were thoroughly screwed by these fellows.

The Malaysian government should not be blamed for the CLOB debacle.

If anybody should be blamed, it should be the SGX and the MOF. I remembered the re-assurance given by them. When the crux of the issue come, they simply adopt the you die your business attitude.

 

[LauKow]

if possible, dont buy anything from China...low quality products and often fakes

Most MNCs have factories set up in China. Are you going to avoid buying these products that are manufactured in China?

Even your notebook (very likely) and iPhone and iPad are made in China.

My Toshiba notebook is made in China - what else?

 

[watchman8]

Ya, when the LEEgime got kicked out of the parleement, they will sell the company that handles these standalone storage media to 3 donkeys just like the Town Council software. The 3 donkeys will then disappeared without a trace.

Much easier way to steal from sinkie coffers, which they have already done via paying themselves and relatives super high wages. Just look at whore jinx salary. Another way is via private equity deals of GIC and temasick.

CPF money no need to steal directly. It will be auto channeled into the twin swf black holes.

It is so much harder to steal directly from cpf as there are off site backups, so even if someone wants to steal, just need to compare with years of back up records. Yet another way is to compare with the banks that transferred your monthly pay into cpf from your employers and property sale proceeds, and the banks keep at least two decades of records, also on full daily back up. So it is extremely tough to steal from cpf.

Actually the cpf print out has not much use in court if cpf records differ from that piece of paper, because that paper printout can be easily forged. The judge will depend on cpf records, unless proven otherwise.

 

[Merl Haggard]

To: Merl Haggard

It took you so long and after a few expensive lessons to learn the truth?

I'm merely reporting an account from someone else.

 

[Merl Haggard]

Three people should have been investigated by the relevant authorities for the listing of so many China cheat-shares here.

One former SGX chief executive who is now holding a senior post in Temasek and two former top dealers/remisiers from UOBKayhian.

These two chaps are responsible for the listing of 75% of those Chinese IPOs and are known to have made about 600 million Dollars for themselves.

 

[Mdm Tang]

Three people should have been investigated by the relevant authorities for the listing of so many China cheat-shares here.

One former SGX chief executive who is now holding a senior post in Temasek and two former top dealers/remisiers from UOBKayhian.

These two chaps are responsible for the listing of 75% of those Chinese IPOs and are known to have made about 600 million Dollars for themselves.

.


one hand S$100k at RWS VVIP room

 

[watchman8]

Three people should have been investigated by the relevant authorities for the listing of so many China cheat-shares here.

One former SGX chief executive who is now holding a senior post in Temasek and two former top dealers/remisiers from UOBKayhian.

These two chaps are responsible for the listing of 75% of those Chinese IPOs and are known to have made about 600 million Dollars for themselves.

He left temasick. Now upgraded to GIC to give old man personal guidance on more monkey businesses. A true talent in old man's book for ability to extract so much cash from the masses.