In the announcement, the company clarified that the lenders who have granted credit facilities to Mr. Huang Zhong Xuan, one of the major shareholders and CEO of the company through share pledge arrangement, may seek to sell off the shares pledged to them to reduce debt incurred by Mr. Huang Zhong Xuan.
The stock will resume trading today and we expect great selling pressure on it.
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1 comment:
China Sky -- What a good undervalue stock ! Selling Price are much cheaper vs IPO and NAV. Further, Short term loss under such global economy are normal face by many company. If you buy now at < SGD 0.2 and hold patiently till economy recovery that everyone expected 2010. You could earn 5X ~ 10 X just only less than one year from now. Strongly recommended to buy.
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