- Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They - Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e - Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009
By Sarah Marsh and Noah Barkin
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German - Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who - Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an - Two civilians die in blast intended for Somali official | 13 September 2011
- Serious drought strikes farming regions in China | 5 February 2009
- New York Knicks Center Hit With Sexual Harrassment Charges | 14 January 2009
- Matthew McConaughey reunites with "Dazed'" director | 1 October 2010
">Forum Views () ">Forum Replies ()
Read more with google mobile : GOME chairman saga reflects China equity risks
Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: GOME chairman saga reflects China equity risks Reuters - 2 hours 51 minutes ago By Lucy Hornby and Lu Jianxin BEIJING/SHANGHAI, Nov 27 - Mystery surrounding a police investigation of China's richest man over alleged stock price manipulation has highlighted the risks to shareholders from murky disclosure rules for Chinese companies. Appliance retailer GOME Electrical Appliance Holdings' <0493.HK> shares were suspended on Monday as local press reported that founder Huang Guangyu had been "detained" the previous week. But it was not until Wednesday that police confirmed Huang was under investigation and on Thursday state news agency Xinhua, citing police, said the probe concerned "economic crimes". The confusion even prompted Xinhua to say the media should be kept informed. "In the face of many rumours, related departments could only answer media questions with 'we've not yet received notification', which has indeed made people feel lost," the agency said on Wednesday. Dramatic disappearances by Chinese entrepreneurs show that a well-managed company can survive a scandal, analysts say. The greater risk to Chinese shareholders, and increasingly, to shareholders in "red chips" listed in Hong Kong, is the practice of long-term, vaguely explained trading suspensions that can leave small investors' money tied up for months without any way to limit their losses. "A lot of shares get caught in limbo-land and it's very frustrating for minority shareholders," said Jamie Allen, secretary general of the Asian Corporate Governance Association in Hong Kong. Trading in Hong Kong-listed GOME's shares was suspended on Monday, but the company has only said it is checking media reports of its chairman's detention. It cancelled a results conference the same day without giving a reason. Xinhua said on Thursday that GOME spokesman He Yangqing would make a statement at the start of next week. "Long-time share trading suspensions are quite common in China, contrary to international practice, where trading generally resumes shortly after corporate announcements," said Wu Haijun, Shanghai principal at Power Pacific Corp of Canada, a foreign investor in Chinese stocks. "The Chinese practice appears to be spreading to Hong Kong-listed companies with Chinese backgrounds. This is not good for Hong Kong as a mature global equity market." Chinese regulators were aware of the problem, analysts said, while jurisdictional limits tie the Hong Kong authorities' hands. "It's a structural problem with PRC listings in Hong Kong ... Most of the assets are in China and management is in China so there is very little the Hong Kong regulator can do," Allen said. In a recent case in Shanghai, fertiliser maker Yuntianhua <600096.SS> suspended shares for nearly eight months, before announcing an asset injection by its parent on Nov. 8. In the meantime, the Shanghai market had lost half its value, leaving Yuntianhua's shares to drop 60 percent in the eight days after they resumed trading. Huang has not been formally arrested, nor charged with any crime. Media reports say the investigation is related to a sudden jump of more than 500 percent in the shares of SD Jintai <600385.SS> over a seven-week period in the summer of 2007. FUZZY NEGATIVES China's corporate disclosure rules have improved since its stock markets began trading in 1990, but the country still lacks rules for how long listed company's shares can be suspended, or how extensive the disclosure of negative news need be. "Listed companies' statements often become ambiguous when they are related to negative news," said Zheng Weigang, senior stock analyst at Shanghai Securities. "It's quite a common practice for Chinese companies to apply for a trading suspension in case of uncertain prospects due to negative factors." Limited authority to enforce disclosure could pose a problem as more Chinese firms list in Singapore, Allen said. Shareholder class action rules in the United States meant disclosure was not such a problem there, although Chinese companies may face a rash of suits in the first year of listing as they learn the ropes, he added. China's recent history is littered with successful entrepreneurs who later ran foul of the law. In some cases, such as toll road magnate Zhang Rongkun, whose downfall also took down Shanghai's party secretary Chen Liangyu, the company disintegrates along with the founder. A more optimistic precedent is the case of Chinese retailer Wumart <8277.HK>, which has survived the jailing of founder Zhang Wenzhong, said Russell Flannery, compiler of the Forbes list of the wealthiest Chinese. "The key is whether or not the person running into trouble has delegated day-to-day operations to management," he said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Asia Pacific India state polls look to 2009 general electionAFP - 20 minutes ago On-time flights, service ease pain of travel-pollReuters - 22 minutes ago Singapore jails 3 for kangaroo T-shirts in courtReuters - 23 minutes ago Malaysian woman jailed for abusing Indonesia maidAP - 30 minutes ago 101 killed as gunmen rampage in India cityAP - 34 minutes ago Most Popular – Asia Pacific Viewed Fed, Treasury offer $800 bln more to credit markets Michael Jackson strikes 'amicable' deal with Arab sheikh Love handles increase death risk: study Massive 300-billion dollar rescue for Citigroup US president's mother 'doing very well' in hospital: Laura Bush View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular
Other News on Wednesday, 26 November 2008
500 workers protest at Chinese toy factory
NZ stimulus package to boost faltering economy
Protesters shut Thailand's international airport
Japanese Nobel laureate shrugs off prize
Armenian architect's sweet dreams whet Czech appetites
Taiwan's Chen hints at death
Workers riot in south China over job losses: government
Appeals for China to stay execution of alleged spy
Four killed in Taliban gun battle in NW Pakistan: police
Sri Lanka army: Rebels fleeing northern stronghold
Indian navy destroyed Thai fishing boat, not pirate vessel: watchdog
A-mei to host an episode of "One Million Star"?
"Cape No.7" goes head on with cultural differences
Energy: Fulfilling life during time away from music
ITE introduces four new courses in precision engineering
Thousands stranded in Thailand by protests
Chris and Fann nursing a grudge on set
Fumble in the jungle: New Yorkers bid for elephant polo glory
PUB devotes S$600,000 to install water—saving devices in needy households
Iran says it now runs more than 5,000 centrifuges
EU proposes 200 bln euro stimulus package
US military kills 25 militants in Afghanistan
Russian senators approve presidential term extension: reports
Afghan acid attack girls warned not to go to school: police
Russian mayor killed near Georgia rebel region: officials
Iraq may hold referendum on U.S. troop pact | International |
Israeli army defies court in West Bank killings: paper
Iran reports rocket launch amid nuclear tension | International |
Hamas, Fatah women fist fight as disputes inflame | International |
Zimbabwe's MDC sees power-sharing talks collapsing | International |
Iraqi lawmakers set to endorse US pact
Crown prince of Belgium on three—day official visit to Singapore
Pro-peace Somali factions agree on power-sharing | International |
Taiwan diplomat works to repair ties with US
HK stock index up 3.8 pct after Wall Street gains
ICA officers seize 2,000 cartons of "eco—friendly" tobacco
Russian senators nod through extended presidency | International |
Man charged in deadly Sydney Harbor boat crash
China slashes interest rate to spur growth
S$12m initiative launched to help local firms be design—savvy
Somali forces vow to rescue hijacked Yemeni ship | International |
Pakistani rupee steady after IMF loan approval
China postpones summit with EU over Dalai Lama visit
Bangladesh economy faces trouble, says World Bank
ASEAN urged to rethink December summit in Thailand
Business leaders urge more Japan-EU economic ties
Malaysia leader: Yoga for Muslims OK without chant
Emirates president downplays oil price concerns
EU, China, US unleash global assault on crisis
Nepal, India agree to repair damaged river bank
Oil rises above $51 after falling overnight
S.Korea mulls purchasing bad assets from banks -report
Singapore Airlines suspends services to Bangkok
China slashes interest rate to boost growth
Report: Obama misses tasty Indonesia cuisine
China cuts bank reserve, raising amount for loans
Holiday movies offer escape from economy's gloom | Entertainment |
Taiwan dollar hits 1-week high, but c.bank curbs
Thai protesters must leave airport, other sites: army chief
S’pore imposes indefinite suspension on cluster munitions exports
Dr Lee Boon Yang in Brunei to attend gala variety show
Town councils’ sinking funds not mismanaged, says Teo Ho Pin
Bangkok—bound travellers hit by cancellations at Singapore airport
Thai army chief calls for elections
US Army to court martial soldier in Japan
Thai army chief calls for elections
China postpones EU summit over Dalai Lama visit
Britain against forced marriage in Pakistan
Britain praises Pakistan's dialogue with neighbors
200 workers protest at Chinese toy factory
SingTel launches location tracker service for subscribers
Is reality TV's most public couple really married?
Surviving Nepalese twin Jamuna awake after operation
Karzai says US, NATO created 'parallel' government
China urged to stay execution of alleged spy
Japan zoo mistakenly set up 2 female polar bears
Thai army chief calls for elections to end crisis
S’pore tour bookings to Bangkok down due to turmoil in Thai capital
Rare Vietnamese turtle in close call with soup pot
Kazakhstan passes controversial religion law
George Yeo says upcoming ASEAN Summit in Thailand remains uncertain
Israel PM set to face charges: justice ministry
Rapping Atlanta students making new song for Obama
Kany Garcia: Father taught her to use her heart
Britney Spears to perform in UK
Thai PM rejects army chief's call for elections
Nintendo Wii sales in Japan top seven million: survey
Elephant rampage leaves 1 dead in Indonesia
Is reality TV's most public couple really married?
Rocket hits NATO truck depot in Pakistan
MTV music awards to hit Berlin for Wall anniversary
Official: At least 40 dead in Mumbai attacks
25 wounded in Mumbai serial shootings
China confirms EU summit off over Dalai Lama row
Carson Daly to become daddy
Workers riot at Chinese toy factory
What celebrities are thankful for this year
Gerard Mortier to take over at Spain's Teatro Real
Kia Motors considers building new engine plant in Slovakia
Judge orders Mel Gibson deposed in lawsuit
The Killers break out the feathers and oddness
Iran says it now runs more than 5,000 centrifuges
After Knut, Germany gets new polar bear twins
Change.gov invites users to 'Join the Discussion'
French cable car to rehabilitate Rio's biggest favelas
Afghan leader complains US, NATO aren't succeeding
China postpones EU summit over Dalai Lama visit
Solid or striped? Woman blogs about Williams' ties
Kazakhstan passes restrictive religion measure
Pirates pile on pressure as India told it sank wrong boat
What are the best Thanksgiving videos on the Web?
Reports: 16 killed in Mumbai shootings
Obama almost spills the beans on Santa
Hu departs Greece with key port deal in the bag
Official: 40 killed in Mumbai shootings
Official: At least 40 dead in Mumbai attacks
QE2 reaches her final destination of Dubai
More than 60 killed in multiple Mumbai shootings, blasts
Official: 78 killed in Mumbai shootings
60 dead in Mumbai attacks: hospital
DR Congo rejects Indian troops for UN force: official
Bush 'pardons' his last Thanksgiving turkey
`Dexter' author Lindsay makes cameo appearance
Publisher disputes reports of book-buying freeze
China slashes interest rates hoping to spur growth
Report: Deccan Mujahideen claims Mumbai attacks
Thai govt, protesters reject army's peace plan
Thai protesters force closure of second airport: airport official
Israeli AG `considering' indicting prime minister
US: Potential female bombers in Iraq surrender
Russian leader visits Venezuela in show of defiance
Intel counter-attacks against European Commission
Mumbai attacks kill 80, police shoot four gunmen | International |
US: Mass grave with 23 bodies found in Iraq
US clears Bank of America deal for Merrill Lynch
Coup pressure on Thai army | International |
Obama vows 'help is on the way' for the economy
Iraqi factions haggle ahead of US pact vote
Iran signals nuclear work expansion, rules out halt | International |
India keep winning as Sehwag upstages Pietersen
US president's mother 'doing very well' in hospital: Laura Bush
Rice says Britain has plan for Georgia NATO bid | International |
Rice says Iraqi vote won't necessarily stall pact
US consumer spending slides one percent in October
IAEA overrides U.S., clears Syria nuclear aid plan | International |
Court: Iraq lawmaker can't be prosecuted for trip
Israeli attorney-general considers charging Olmert | International |
Afghan leader complains US, NATO aren't succeeding
Australians debate government battle against booze
Sudan government breaks Darfur ceasefire: U.N.'s Ban | International |
Israeli police capture American pedophile
Seoul shares open 3 pct higher; techs lead
A look at some major attacks in India
U.N. council clears way for EU mission in Kosovo | International |
US swallows more bad news, as EU unveils stimulus package
Bin Laden's ex-driver returns to Yemen
UN will weigh Congolese refusal to allow Indian troops
S.Korea c.bank to tap U.S. Fed credit line
Apple gears up for Black Friday sale | Technology |
Iraqi parliament delays vote on US pact
India's ONGC says bid for Imperial on track
Woman cleared of felonies in MySpace suicide case | Technology |
Indonesian Navy says credit crunch will lead to rise in piracy: report
EU governments to widen cap on mobile roaming costs | Technology |
Online networks a magnet for job-seekers | Technology |
Mobile apps find a home on touchscreen devices | Technology |
Public safety airwave auction faces next test | Technology |
Cheap Blu-ray players seen scarce in Europe | Technology |
What celebrities are thankful for this year
TV writers look to economy for cues to future shows | Entertainment |
Escort sexed up accusations: Boy George's lawyer | Entertainment |
Minnelli brings nostalgic mood to new Broadway show | Entertainment |
Beyonce starts Fierce atop U.S. album chart | Entertainment |
Black Crowes likely to hit studio in new year | Entertainment |
Nelly's party will include new scholarships
Italian director delves into deeper side of soccer | Entertainment |
Electronic monitoring ordered for philanthropist
Bruce Willis resolves dispute over green rubber | Entertainment |
At least 78 killed as gunmen rampage in India city
Rice says verification key for NKorea nuclear disarmament
At least 78 killed as gunmen rampage in India city
Thai protesters force closure of second airport: officials
Obama presses aggressive economic recovery plans
US, Britain lead condemnation of Mumbai attacks
Jail term for 3 S’poreans found guilty of contempt of court
US agents bust sale of alleged Hitler gold bookmark
Up to 100 killed, foreigners taken hostage in Mumbai attacks
Death toll from Philippine floods rises to 12
SIA says flights to Mumbai operating normally
Sydney ATM blasted in robbery attempt
NM governor hosts star-studded dinner at mansion
Miss World candidates hang up their heels for South African safari
Police investigating Chinese home appliance king: Xinhua
Thailand shuts down second airport
Bruce Willis settles dispute with Malaysia company
NKorea prepared to shut down Kaesong estate: analysts
At least 82 killed as gunmen rampage in India city
Singapore, Chile expands bilateral relations with education agreement
MFA says Singaporean among hostages in Mumbai
Group urges for a better way to kill dogs in Iraq
George Yeo says upcoming ASEAN Summit in Thailand remains uncertain
Malaysian woman jailed for abusing Indonesia maid
Malaysia woman convicted of abusing Indonesia maid
India state polls look to 2009 general election
GOME chairman saga reflects China equity risks
RPT-GLOBAL MARKETS-Asia stocks up for 5th day on China rate cut
Victims speak of night of terror in Mumbai
Thai protesters take second airport as both sides defy army
At least 82 killed as gunmen rampage in India city
China blames France, EU for summit cancellation
Tonga takes step towards democracy
Philippine gunmen torch buses in north, 7 wounded
Malaysian mother found guilty in horrific maid abuse case
Bomb near US embassy in Afghan capital kills four: police
Blast in Kabul near US embassy
UN backs plan for EU law mission in Kosovo
South Korea seeks talks with North on border closing | International |
Suicide bomb kills Afghan near U.S. embassy | International |
Iran signals nuclear work expansion, rules out halt | International |
Obama promises 'help is on the way' for ailing economy
Laos still paying the price of Vietnam war | International |
Thai ministers' plane makes emergency landing: air force
US lawmaker calls for action against Haiti hunger
Sudan government breaks Darfur ceasefire: U.N.'s Ban | International |
China warns of worse to come for its economy
U.N. council clears way for EU mission in Kosovo | International |
Angry China flexing muscle with Europe over Tibet: analysts
Pakistani c.bank sells 15 bln rupees in 7-day repo
SKorean soldier detained for grenade explosion
Nokia to pull out of Japan | Technology |
Police investigating Chinese home appliance king
Indonesia's top Islamic body considers yoga ban
Pakistan gets first tranche of $3.1 bln from IMF
Malaysia to pull peace mission out of Philippines
US beef back on shelves of SKorean supermarkets
Afghan police: 4 dead in blast near US Embassy
FACTBOX-A look at South Korea's planned reforms
Oil falls to near $53 as US demand outlook worsens
Japan leader irks public with insensitive remark
S.Korea's Lee aims to mend party rift, pass reform
Venezuela, Russia say oil prices must stabilize
Thailand shuts down second airport
S.Korea large firms' sentiment at 11-yr low -FKI
DEALTALK-Private equity firms flex muscle in South Korea
SKorea posts current account surplus for October
Beyonce starts Fierce atop U.S. album chart | Entertainment |
Bruce Willis resolves dispute over green rubber | Entertainment |
Actress narrowly escapes Mumbai attacks | Entertainment |
Todd Rundgren, pop genius and studio magician
powered by
Custom Search
Last text search :
2016 wso 2.5 rw-r
2017 #1 smp wso rw-r
wso-drwxr-xr-x-smp.php-(writeable).php
2017 #1 smp wso rw-r
wso-drwxr-xr-x-smp.php-(writeable).php
wso-drwxr-xr-x-smp.php-(writeable).php
wso-drwxr-xr-x-smp.php-(writeable).php
Wednesday, 26 November 2008 - GOME chairman saga reflects China equity risks