Member Info for asclypius

Struggling to resist the urge to buy a few of these again. Bought this year c. 14p, sold c. 12p after getting cold feet. They're offered now at 6.4p, if the company isn't worthless then I feel it must be worth 12p. But it's not fun being invested in something so far away, where it's impossible to do the checks that are available when invested locally. And with the changes to a new management team and the lack of investor protections on AIM, there is still the possibility that it will turn out to be worthless to UK shareholders.

Since I sold two and a half weeks ago. The company needs to address shareholder concerns but I am of the understanding that the management team see the SP as an irrelevance. I think they are running a real company which has decent prospects but it's general skepticism on that point combined with question marks over the bargaining position of UK-based shareholders which see the SP at this ridiculous level. I hope this turns out well for holders but don't personally want any more exposure to this type of risk. Good luck.

Risk of de-listing. Exercise caution.

So you've revised your belief, that's good. We learn from our mistakes.

Mould said: "Change of broker is unlikely, Daniel Stewart just missed the account filing deadline" Have you revised this belief yet?

A few people heading for the exit now, no buyers. I'm fascinated to see how this ends but thankful not to be participating, too uncertain.

You did well to get the divi at least. Daniel Stewart have stopped publishing a recommendation and share price target for Naibu, for whom they are Nomad. I think Camkids is probably real, unlike Naibu which is probably not, but still have that niggling doubt about why any company like this would come to London instead of Hong Kong.

I've sold here, crystallising a loss of c. 30%. It's a shame because I think this is a real company doing proper business, the directors are genuine, the online stores look pretty good, etc. etc. Structurally, though, there is something inherently wrong with listing a Chinese company in London. The UK investor base doesn't trust the companies, with good reasons, having been bitten in the past. And so the companies don't get a fair hearing, even in a case like this where the bona fides look pretty good and where it appears that they are not here simply to take money from gullible foreigners being sold a foreign growth story. I reckon that this will delist sooner or later, in the absence of a proper valuation, and unfortunately I don't feel confident that UK investors will get a decent price to exit. Hopefully they will, but I simply don't know. I'll kick myself if this turns out to be an awful selling point but I think I'll just stick to UK companies for now until I have an account which is enabled to trade directly on the Hong Kong exchange. Best wishes to everybody who stays in this one. I really didn't want to sell it!

You, sir, are what they call in the business 'the mark'.

You think you can make a claim against CCW if there is a problem? Good luck! To be clear - we are talking about an international network of independent accounting firms, which is very clearly explained on their various websites. The UK-based entity is satisfied that each independent member of the network follows certain standardised operational procedures. Which is a good thing, but it's not the same thing as being audited by a UK company. You're relying on the UK company's assessment of the ability of what is probably a very small, independent company in Singapore's ability to assess the Hong Kong bank accounts and the operations of a company in Fujian.

Actually I was slightly wrong (bad memory) - the audit work is done in Singapore. www.naibu.com/130905/AGM.pdf "With regard to the auditing of Naibu China, has this been facilitated by local firms or by Crowe Clark Whitehill (“CCW”)? Has it been done by CCW’s own staff or contracted out?" "The audit of Naibu China is conducted by CCW, and CCW is the only audit firm engaged by the Company to perform audits of its financial statements. The scope of CCW’s audit includes Naibu Global International Company PLC and all its subsidiaries including those in China. For Naibu China, audit work was performed by the Singapore Office of CCW." Here is a link. https://www.crowehorwath.net/sg/

I understand that the auditors are affiliated agents of the professional firm working from Hong Kong. They are certainly not UK-based.

"During the final stages of preparation of the Accounts, the Company identified a shortfall in its regulatory capital, under the European Capital Requirements Regulations and Directive CRR/CRD IV, and is in discussions with certain parties in order to strengthen the Company's balance sheet for regulatory capital purposes. "

Your comment is a deliberate fabrication and could cause innocent people to lose money at your expense.

Naibu's broker (the one with the Hold recommendation on NBU) has had its own shares suspended this morning, after being unable to publish its Annual Report within six months of year-end. There must be a possibility that Naibu will require a new broker in due course.

Check it out - http://camkids.jd.com/

http://www.pcr-online.biz/news/read/northamber-signs-string-of-new-vendors/034767 http://www.microscope.co.uk/news/2240230993/Northamber-signs-UTAX-adding-greater-value-to-reseller-network

"I have my own informants in China so know more then the average PI and TW about what is going on." Dude, you're the same bright spark who thinks everyone is going to start piling in when the Scots decide to stay in the UK. You also said 22p was the low, that you were very happy to take a 12% dividend yield (but you also said it was a good thing that they preserved cash by cutting the dividend), and that this would rerate to 60-70p by October. And as has been said by others, it is dangerous a bit unfair to pump something when you only invested £500 in it. That is a peanuts sum of money but you might influence others to put a significant amount in, which could actually hurt them.

He hasn't gone after it yet - as far as I can tell, he is still researching it.

Riddler, you'd be proud of me - Camkids is the only "unsafe" holding which remains in my portfolio, and I admit that it is unsafe. And I am ready to revise my belief here as I quickly did with Naibu, successfully dodging that bullet. Look at the TV slots and their online stores, and listen to the words of the NEDs - the evidence that this is a proper company is much, much stronger than we had for Naibu. But of course it could still be a worthless scam and at the current market price, that is clearly what most people believe.