TWO former senior employees of UOB Kay Hian Private Limited (UOBKH) were charged on Wednesday for allegedly lying to the Monetary Authority of Singapore (MAS) in relation to reports on a then Catalist aspirant. Lan Kang Ming, 38, and Wee Toon Lee, 34, each face three charges of providing MAS with false information in October 2018 in relation to due diligence reports on an unidentified company applying to list on the Catalist board of the Singapore Exchange. MAS said in a media statement on Wednesday that it was performing an onsite inspection of UOBKH between June and August 2018, to assess the latter's controls, policies and procedures in relation to its role as an issue manager for Initial Public Offering (IPOs). During the examination, Lan and Wee were said to have provided different versions of a due diligence report relating to background checks on a company applying to be listed on the Catalist board of the Singapore Exchange. UOBKH had acted as the issu...
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Cai Haoxiang
17 November 2014
The Business Times used the Bloomberg machine to dig up companies trading at extreme financial ratios on the Shanghai Stock Exchange that investors could buy on Monday. Here is what we found.
Warning: This exercise is just meant to give a sense of the Chinese stock market. There are many reasons financial ratios are what they are. A “cheap” company might be a value trap, an expensive company by cashflows might just not have started generating income yet.
None of this should be construed as financial advice. Also, numbers from the Bloomberg machine are sometimes just plain inaccurate - not to mention that the data is drawn from financial statements which come from a country where disclosure is not exactly up to international standards.
Most expensive company by earnings
Insigma Technology, which provides outsourcing, IT, consulting and training services, has the most investor expectations on it. It is apparently trading at 1,875 times earnings.
Most expensive company by net assets
Shenzhen Kingdom Sci-Tech, which develops and markets financial security software, is currently trading at 17 times its book value, 102 times its earnings, and 843 times its cashflows. It is valued at 12.5 billion yuan.
Most expensive company by cashflows
Xiamen Tungsten, which makes tungsten products, sells “ammonium paratungstate, blue tungsten oxide, yellow tungsten oxide, tungsten powder and tungsten alloy products” according to Bloomberg. It also makes batteries. It also has a real estate development arm. It did not make much money last year, apparently. Thus it stood out on the screens - it is valued at more than a thousand times its past year’s cashflows.
Cheapest company by assets
Beijing North Star Company is apparently trading at the lowest price to book, at 0.45 times, though another measure puts it at 0.76 times. It develops, leases and invests in properties. It operates shopping centres, hotels, restaurants and recreation businesses. Most companies trading at a big discount to their stated net assets tend to be coal and mining companies. Quite a number of banks are also trading at a 10 to 20 per cent discount to book.
Highest return on one-year basis
Traders love Yingkou Port Liability. The company has gone up 352 per cent in the past year. It manages the Yingkou Port in Liaoning province, providing cargo loading and unloading, storage and transportation services. The company generated 3 billion yuan in revenues last year.
Most unloved on one-year basis
Xinjiang-based Guanghui Energy is down 26 per cent from a year ago. It is involved in a variety of activities, from natural gas, coal mining, processing and distribution of granite materials, to trading plastic doors and windows.