Foreland Fabrictech

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9 years 6 months ago #20974 by Nava
Replied by Nava on topic Foreland Fabrictech
Any update about action taken on Foreland. Hope you guys can put intense pressure on SGX and SIAS to do something concrete so that it will be a deterrent to other S-Chips from following the footsteps of Foreland.

What Foreland CEO has done is very similar to wht other CEOs of S-Chips. Because not much action taken against these CEOs at times dont know wht is happening these guys are tempted to follow suit other S-Chips cheats.

SGX we need protection not just collecting fees from us and call urself regulatory body but standing helpless watching the S-Chip bosses taking us for a ride.

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9 years 6 months ago #20975 by MrSubarashii
Replied by MrSubarashii on topic Foreland Fabrictech
Just don't buy S-chips ever!!! How many S-chip need to be suspended before people stop thinking that these companies are going to be multi-baggers?

Rmemeber, the S in S-chip stands for "Sayonara to your money"

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9 years 6 months ago #20976 by Nava
Replied by Nava on topic Foreland Fabrictech
We cannot let SGX and the S-Chip management scot free. We have to start a movement to protect the existing shareholder interest. Make SGX and S-Chip management,the board including independent directors accountable.

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9 years 6 months ago - 9 years 6 months ago #20978 by MrSubarashii
Replied by MrSubarashii on topic Foreland Fabrictech
Yes Nava, you are right that you have to do whatever you can to protect stock holders from unscrupulous S-chips companies. I fully understand your situation.

I shiver at the thought of SGX relaxing its rules to encourage more S-chips to be listed here from next year. Are they serious? Do they care about what the unconscionable S-chips cos already listed here have done to investors. Yet for the sake of making money they are making it EASIER for the sharks to feast on our hard earned money. I am totally disgusted with SGX.

I have made it a policy NEVER to invest in S-chips after a bad experience 3 years ago. Since my decision, I have had peaceful sleep every night.

I urge investors to ban S-chips from their portfolios until SGX and S-chip co management are able to show some respect for Singaporean investors and not treat us as pigs to slaughter.
Last edit: 9 years 6 months ago by MrSubarashii.

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9 years 6 months ago #20979 by rainmaker
Replied by rainmaker on topic Foreland Fabrictech
Long ago, SGX already lost their interest as regulatory body. Instead they only interested in making $$$. Now they say they will work with the China Securities Regulatory Board (CSRB) and bring in more S-Chips. They did not want to resolve the present problem but care only their own bottom-line. When there are problems again, they will simply say CSRB in charge and you will see CSRB finger-point back. This is called "Shift of Responsibilities" in corporate world - Simply no ownership of responsibilities.

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9 years 6 months ago #20983 by sgmystique
Replied by sgmystique on topic Foreland Fabrictech
Status Update:

We have not received any response from the SGX to our petition submitted on the 19th September 2014.

We shall be going to the SGX tomorrow (9th October) to submit a reminder.

Please stay tuned for further updates.

Regards,



(20-09-2014 01:22 PM)sgmystique Wrote: Status Update:

We personally submitted our petition requesting an investigation into the happenings at Foreland to the SGX yesterday (19th Sep 2014). They have promised to take a look at our petition and respond back to us, hopefully by the 3rd October (2 weeks).

We could gather 6 shareholders of Foreland who collectively own slightly more than 2% of equity in the company to sign on the petition. My sincere thanks to hurricane who was the only one from Valuebuddies.com who responded to my appeal to fight the apparent wrong doings at the company

I was a little disappointed to find a very lukewarm response to my request for fellow shareholders to join in this fight. Either we have been unable to reach out to the right set of people (shareholders of Foreland who as per the AR 2013 number more than 1100) or people have decided to accept the happenings at Foreland without a fight!

Anyways, we have decided to take this quest to get to the truth to a logical conclusion. If any other valuebuddies feel like joining the fight please send me a private message with your e-mail address and contact numbers and I shall respond back asap.

I will keep posting the latest updates and I hope this encourages more people to step forward to set a TERRIBLE WRONG, RIGHT!!!

Regards,



(16-09-2014 07:54 AM)sgmystique Wrote: Hi Friends,

We have been able to get a few signatures on our petition to the SGX

It is an EARNEST REQUEST TO EVERY SHAREHOLDER OF FORELAND TO COME FORWARD AND SIGN THIS PETITION.

Please pass the word around to those you know. We plan to submit the letter to SGX latest by this Friday (19th September) and as you will appreciate the more support we have the better the impact it will have on the exchange to DO SOMETHING TO PROTECT OUR RIGHTS and BRING THE CROOKS TO THE TABLE!!!

Regards,

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