Milo's TA discussion and sharing thread

[wahkao3]

someone asked me, why did and would i buy china minzhong at $0.55 when price was dropping 50%?
1) base on the TA, 53c was the historical low

2) base on news, i know indoagri already took a stake of 29.33%, and 0.77% more will be enough to trigger a takeover price at 1.12, and this is the best possible way to let me exit.

3) i was also expecting it to halt to rebut or clarify overnight, and thus killing all the shortists, and force them to cover the next day. i was ready to even average my way down till it halt, but i din expect mz to halt less than 5min after i bought. my first expected entry was 70c, but the support didnt hold, so i went down to 55c for my first entry

4) nta of chinamz is $1.04usd, a good price to buy at $0.55

5) people was asking, do i not care about report, i did read the report, but when i read the part where they accused the ipo propetus was somehow fake or fabricated, i csi the cfo, Mr Siek Wei Ting, Ryan (谢威庭先生) and realised that the cfo was a fellow sinkie, formely from ntu, and even got a prize from ntu. i seriously doubt a sinkie will be so corrupted. if it is a tiong, i will probably give this a miss

6) milo told me ipo auditor has to audit the account for 3 years, and i understand the ipo process too, so im somehow sure the auditor wont be so cock to assist in fabricating the ipo propestus and sell to gic also

i took a punt at the previous historical low, not alot but small enough to let it suspend n not feel anything, just somehow mentally prepare to let it suspend like gaoxian. thats all.

this is pure luck, im just lucky..

\
gong xi gong xi
thanks for sharing your analysis

we really put a lot of faith into auditors to do their jobs

 

[Seannie]

Sinkie, can u tell me honestly if there is obe stock which u will surely buy if it dips during the volatile time ahead (in these few weeks time)?

 

[Sinkie]

Sinkie, can u tell me honestly if there is obe stock which u will surely buy if it dips during the volatile time ahead (in these few weeks time)?

china minzhong again

 

[nauhchop]

5) people was asking, do i not care about report, i did read the report, but when i read the part where they accused the ipo propetus was somehow fake or fabricated, i csi the cfo, Mr Siek Wei Ting, Ryan (谢威庭先生) and realised that the cfo was a fellow sinkie, formely from ntu, and even got a prize from ntu. i seriously doubt a sinkie will be so corrupted. if it is a tiong, i will probably give this a miss
.

There are a number of China companies in Singapore who engage auditors to audit their accounts.

During the internal audit process, the one who heads the audit will be the one who "helps" to rectify all operations and processes which are not acceptable. Some company needs someone to aid in this process and will offer the head a good job once the audit is over.

So with a good paying job lying in waiting, there are conflict in interests. Whether a sinkie is corrupted, I wouldn't use such a word, however the role that they play during auditing can have a lot of conflict of interests if they choose to move to the company they audited before.

PS: Many of these heads normally hold important roles in the companies they audit, some even role of CFO. Singaporeans can be corrupted, especially when you see our CPIB also have black sheeps.

Thus, there are few people never trust them entirely. Lawyers and Accountants.

In fact if you look into a China corporate company structure, their key positions are held by China people. The reason why they get a Singaporean is because the local knows the rules better and easier to get things done. If not, they would just take care of their natives and not Singaporeans.

 

[Nakedtoes]

There are a number of China companies in Singapore who engage auditors to audit their accounts.

During the internal audit process, the one who heads the audit will be the one who "helps" to rectify all operations and processes which are not acceptable. Some company needs someone to aid in this process and will offer the head a good job once the audit is over.

So with a good paying job lying in waiting, there are conflict in interests. Whether a sinkie is corrupted, I wouldn't use such a word, however the role that they play during auditing can have a lot of conflict of interests if they choose to move to the company they audited before.

PS: Many of these heads normally hold important roles in the companies they audit, some even role of CFO. Singaporeans can be corrupted, especially when you see our CPIB also have black sheeps.

Thus, there are few people never trust them entirely. Lawyers and Accountants.

In fact if you look into a China corporate company structure, their key positions are held by China people. The reason why they get a Singaporean is because the local knows the rules better and easier to get things done. If not, they would just take care of their natives and not Singaporeans.

i like the way u warn us... and because i know how dark are china companies thats why i ban all s chips... but but there are really good one.. but very very rare

 

[TheHeist]

someone asked me, why did and would i buy china minzhong at $0.55 when price was dropping 50%?
1) base on the TA, 53c was the historical low

2) base on news, i know indoagri already took a stake of 29.33%, and 0.77% more will be enough to trigger a takeover price at 1.12, and this is the best possible way to let me exit.

3) i was also expecting it to halt to rebut or clarify overnight, and thus killing all the shortists, and force them to cover the next day. i was ready to even average my way down till it halt, but i din expect mz to halt less than 5min after i bought. my first expected entry was 70c, but the support didnt hold, so i went down to 55c for my first entry

4) nta of chinamz is $1.04usd, a good price to buy at $0.55

5) people was asking, do i not care about report, i did read the report, but when i read the part where they accused the ipo propetus was somehow fake or fabricated, i csi the cfo, Mr Siek Wei Ting, Ryan (谢威庭先生) and realised that the cfo was a fellow sinkie, formely from ntu, and even got a prize from ntu. i seriously doubt a sinkie will be so corrupted. if it is a tiong, i will probably give this a miss

6) milo told me ipo auditor has to audit the account for 3 years, and i understand the ipo process too, so im somehow sure the auditor wont be so cock to assist in fabricating the ipo propestus and sell to gic also

i took a punt at the previous historical low, not alot but small enough to let it suspend n not feel anything, just somehow mentally prepare to let it suspend like gaoxian. thats all.

this is pure luck, im just lucky..

Congrats and thanks for sharing.
At least for Olam got chance to tikam abit back in Dec.

 

[JinHockie]

Hi Sinkie, Please help to assist on my TA for this 2 chart. noobie work.

 

[supratentorium]

wa lao no need to delete thread. y u suggest something lidat?

to be brutally honest, its 100% useless for me.
maybe for you, you understand TA and can apply them profitably.

For me, after doing the simulations, I yet to have any success.

Technical analysis is the study of supply and demand. Period.
Moving averages or MACD or stoch or whatever rainbow squigly lines or green and red polka dots are just tools that the majority use. Don't confuse the two.

They are static. They just describe something which happened in the past with whatever input you give it. You give it 14 periods as a parameter, it churns out X. You give it 26, it churns out Y. When you put a few of these static tools together and try to make it a system generating signals, you are just marrying static parameters together (I shudder to think of how many input parameters are needed, the more you put in, the less degree of freedom or in otherwords "death by curvefit")

They are disparate with what price is doing in the "now".
If somehow you are consistently profitable using these, you are using them with an understanding and know about their limitations. Not my cup of tea though.

But kudos to you for spending the effort to do some simulation to come to an unfavourable conclusion. You learned something out of this didn't you? Many would just use these tools at face value after reading books or whatever garbage that's out there on the web.

 

[nauhchop]

i like the way u warn us... and because i know how dark are china companies thats why i ban all s chips... but but there are really good one.. but very very rare

As long as a china company is helm by a china management team, never believe them, regardless of how good they are said to be.

I have worked in china companies in singapore and i can tell you their culture is different from MNCs and local companies.

Want to know why wait for so many days then they announce suspension lifting followed by a takeover and trading halt? They are in discussions over the few days to see how to worm out of this situation. Very timely.
But at this stage, investors already don't bother whether accounts and figures are falsified. Who cares when someone pays 1.12? Thats why its a windfall for those who gotten cmz when it drops.

Its a good lesson to learn from here how dirty the stock market is. Companies fight it out and investors can often be held in limbo situations.

 

[sandwicher]

Hello Sinkie! May i request for a TA for Cap mall trust and also M1?

 

[Milo-Dino]

There are a number of China companies in Singapore who engage auditors to audit their accounts.

During the internal audit process, the one who heads the audit will be the one who "helps" to rectify all operations and processes which are not acceptable. Some company needs someone to aid in this process and will offer the head a good job once the audit is over.

So with a good paying job lying in waiting, there are conflict in interests. Whether a sinkie is corrupted, I wouldn't use such a word, however the role that they play during auditing can have a lot of conflict of interests if they choose to move to the company they audited before.

PS: Many of these heads normally hold important roles in the companies they audit, some even role of CFO. Singaporeans can be corrupted, especially when you see our CPIB also have black sheeps.

Thus, there are few people never trust them entirely. Lawyers and Accountants.

In fact if you look into a China corporate company structure, their key positions are held by China people. The reason why they get a Singaporean is because the local knows the rules better and easier to get things done. If not, they would just take care of their natives and not Singaporeans.

Lawyers and accountants have professional code of ethics to abide to.

Once a professional's reputation to tarnished, it will be next to impossible for them to be hired in the same field again.

I don't know about you, but as an accountant, I wouldn't want to take that sort of risks.
That's why you sometimes see the CFO or FM quitting just before trouble starts to brew.

 

[Sinkie]

Lawyers and accountants have professional code of ethics to abide to.

Once a professional's reputation to tarnished, it will be next to impossible for them to be hired in the same field again.

I don't know about you, but as an accountant, I wouldn't want to take that sort of risks.
That's why you sometimes see the CFO or FM quitting just before trouble starts to brew.

Mr. Wei Ting Siek, Ryan serves as the Chief Financial Officer of China Minzhong Food Corporation Limited. Mr. Siek joined China Minzhong Food Corporation Limited in 2004. Mr. Siek is responsible for the overall financial and accounting functions. Mr. Siek served as Senior Vice President of Southern Bank Berhad from 2002 to 2004, with responsibilities for commercial and retail banking operations. In 2001, he was an Audit Supervisor with Ernst & Young. From 2000 to 2001, he served as an Audit Supervisor with Deloitte & Touche. From 1999 to 2000, he served as the Chief Executive Officer of EBBiS Pte Ltd. He served as an Audit Senior with Deloitte & Touche from 1996 to 1999. Mr. Siek serves as a Director of the principal operating subsidiary, Fujian Minzhong. Mr. Siek was awarded the Nanyang Outstanding Young Alumni Award Recipient (2008) awarded by the Nanyang Technological University of Singapore for his outstanding career achievements. Mr. Siek graduated from the Nanyang Technological University with an accounting degree in 1996.

 

[Seannie]

hi sinkie, Urgent! Did you previously TA hankore before? Cant remember!

 

[imaraq1]

Mr. Wei Ting Siek, Ryan serves as the Chief Financial Officer of China Minzhong Food Corporation Limited. Mr. Siek joined China Minzhong Food Corporation Limited in 2004. Mr. Siek is responsible for the overall financial and accounting functions. Mr. Siek served as Senior Vice President of Southern Bank Berhad from 2002 to 2004, with responsibilities for commercial and retail banking operations. In 2001, he was an Audit Supervisor with Ernst & Young. From 2000 to 2001, he served as an Audit Supervisor with Deloitte & Touche. From 1999 to 2000, he served as the Chief Executive Officer of EBBiS Pte Ltd. He served as an Audit Senior with Deloitte & Touche from 1996 to 1999. Mr. Siek serves as a Director of the principal operating subsidiary, Fujian Minzhong. Mr. Siek was awarded the Nanyang Outstanding Young Alumni Award Recipient (2008) awarded by the Nanyang Technological University of Singapore for his outstanding career achievements. Mr. Siek graduated from the Nanyang Technological University with an accounting degree in 1996.

From audit sup to SVP

 

[imaraq1]

Lawyers and accountants have professional code of ethics to abide to.

Once a professional's reputation to tarnished, it will be next to impossible for them to be hired in the same field again.

I don't know about you, but as an accountant, I wouldn't want to take that sort of risks.
That's why you sometimes see the CFO or FM quitting just before trouble starts to brew.

As accountants, we're advised to inform audit comm or senior mgmt if there are problems/suspicion of fraud etc, and if they don't listen, then best to zao.

 

[Sinkie]

From audit sup to SVP

Mr. Siek graduated from the Nanyang Technological University with an accounting degree in 1996.

From 1996 to 1999, he served as an Audit Senior with Deloitte & Touche

From 1999 to 2000, he served as the Chief Executive Officer of EBBiS Pte Ltd

From 2000 to 2001, he served as an Audit Supervisor with Deloitte & Touche.

In 2001, he was an Audit Supervisor with Ernst & Young.

From 2002 to 2004, Mr. Siek served as Senior Vice President of Southern Bank Berhad, with responsibilities for commercial and retail banking operations.

In 2004, Mr. Siek joined China Minzhong Food Corporation Limited

In 2008, Mr. Siek was awarded the Nanyang Outstanding Young Alumni Award Recipient (2008) awarded by the Nanyang Technological University of Singapore for his outstanding career achievements.

In 2010, China Minzhong launched IPO

 

[Sinkie]

As accountants, we're advised to inform audit comm or senior mgmt if there are problems/suspicion of fraud etc, and if they don't listen, then best to zao.

you are an accountants?

 

[imaraq1]

Mr. Siek graduated from the Nanyang Technological University with an accounting degree in 1996.

From 1996 to 1999, he served as an Audit Senior with Deloitte & Touche

From 1999 to 2000, he served as the Chief Executive Officer of EBBiS Pte Ltd

From 2000 to 2001, he served as an Audit Supervisor with Deloitte & Touche.

In 2001, he was an Audit Supervisor with Ernst & Young.

From 2002 to 2004, Mr. Siek served as Senior Vice President of Southern Bank Berhad, with responsibilities for commercial and retail banking operations.

In 2004, Mr. Siek joined China Minzhong Food Corporation Limited

In 2008, Mr. Siek was awarded the Nanyang Outstanding Young Alumni Award Recipient (2008) awarded by the Nanyang Technological University of Singapore for his outstanding career achievements.

In 2010, China Minzhong launched IPO

these days if you are audit sup and move to bank, you would be AVP at best. he has 6 years of working experience (im assuming he graduated then started working rather than went back to study after many years of working), of which 4 are in audit, and he takes on the role of SVP.

 

[imaraq1]

you are an accountants?

ya. ex audit sup

 

[jgyy1990]

sorry for off topic but I heard there is a group chat for people to discuss on financial stuff in general. mind if I join?