... - a candidate for my Stock Pick .......but not Big On
The S Chip financial scandals in Singapore continue to grow - we now have on the list China Print & Dyeing, Ferro China, FibreChem, Oriental Century, China Sun Bio Chem, Celestial Nutrifoods, China Enersave and Sino Environment - just to name a few. I spoke to a fund manager this morning who mentioned that they are now shying away from China stocks in Singapore because they are less comfortable with the robustness of their financials and their governance. However, they recognise that you must still be invested in China so they have been investing in China stocks listed in Hong Kong. This is not good for the Sgx as we have prided ourselves as being a good market for China stocks to list besides Hong Kong. Anyway that is an issue for the Singapore Government, MAS and SGX to resolve. Read more...