When Distech will resume trading? Any idea?

I think the next thing we will see is resignation of directors and a total collapse in the share-price if and when the company starts trading again....
These <ahem> financial irregularities are potentially extremely serious.

Looks like the company motto applies to the Financial Statements as well....

"We believe. We create. We make it so."



This post has been edited by David_Brent: Mar 9 2010, 06:25 PM

they got problem with starlight marketing limited, the company is public listed so u can check their quarter results, it seems not quite good at all to me.

I believe those who lost money on this counter are mostly speculator.if you read their financial statement, they have been making losses for the past 2 years.No investor would buy this counter.

Tomorrow morning. Surely will hit 0.020.
Most problems will nto prevail.

around RM82 million gone just like that due to a fraud case committed by someone??
that's amazing!! and any idea what type of fraud are they involved in?
if their clients refuse to pay the payables after getting all the stocks (as they state, the clients isn't return any stock to them and they had delivered the stocks), they can always sue their clients or file a wind-up petition against their clients which is a public listed company in Hong Kong.

another case like transmile

mistery transaction with balooned receivable far more than the shareholder fund ...........

Interesting they use the word "FRAUD". If these were uncollected or uncollectable receivables they would not use this word.
So we must believe DISTECH and agree there has been a FRAUD.
The question is: who caused this?
Was it Dustin Cheah and his 'Dilectors'? Or someone else?
Whatever happens a company that "suddenly" discovers a problem after 6 quarterly reports has a lot of explaining to do.....

usually in the case like this they will use the word "allowance for doubtful debts", but different in this case..
perhaps the sum involved is too huge, which is way way way more than the company's share capital + reserve...
after counting in this losses, the company now has negative NTA...
similar case to Oilcorp, Transmile or even Enron?

agree similar case to oilcorp, transmile.

the culprits of Transmile is still "living happily ever" after up to date despite numrous charges being served against them.
on the other hand, noone queried at all about the situation happened in Oilcorp, weird isn't it?
This is Malaysia....
For the Oilcorp culprits, someone should report to SC/media although SC already knew about their case, they just close TWO EYES...

If this was in the UK, the Serious Fraud Office, accompanied by the police would be knocking on the doors of the directors' residences (normally at 5.00a.m. in the morning) and taking them away and "inviting" them to give a detailed account of how things got to the stage they did......

....convictions rarely follow, however - and the penalties are still pretty mild......

Seems like here we don't have any legislation to deal with these kinds of events - and the culprits know it...

What happen to Distech? Suspend?

yes..

Delay in Submission of Financial Statements
The Company has failed to submit its annual audited accounts for the financial
year ended 31 December 2009.
Please refer to Listing Circular dated 3 May 2010.