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Tuesday, April 27, 2010

Where is the cash in China Hongxing?

China Hongxing had been reassuring investors that it had the cash to redeem the bonds but it could not repatriate the money to Singapore due to administrative issues in China.  It has been months since China Hongxing reported the problem but there is still no new outcome on this problem.

Therefore, I'm very doubtful about this counter and will not touch it at all.  Better to invest in another company and sleep well at night.

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