China PANTING & DYING holdings ltd

It's actually quite sickening to see the kind of s-shares listed in sgx. It's very inferior in quality, and by quality, I mean in terms of both exposure in PRC, business and corporate governance.

The latest s-share that need to be shot got to be China Printing & Dyeing Holding Ltd. Their shares got halted yesterday, together with Ferrochina, so naturally there are talks about the solvency of the firm itself. It's not insolvent (maybe not yet), but their CEO and deputy CEO had been un-contactable since 7th Oct 2008 despite repeated attempts by the independent directors to contact them.

There are unconfirmed rumors and media speculation in China, that the parent company Zhejiang based Jianglong Holdings, China's largest printing and dyeing company, was reported to have gone broke. Jianglong owes more than 300 small suppliers a total of US$29.34 million (RMB200 million). An inside source revealed the company also owes US$234.70 million (RMB1.6 billion) to private creditors, but this has not been confirmed. Is the CEO and deputy CEO, who are husband and wife, missing due to this?

The company is suspended from trading till further notice.

These recent episodes of s-shares made me re-think about investing in them. The quality of s-shares listed here is really bad. For all the hardwork, what will I get? Shouldn't I look at better fields over at HK? How about bigger and higher quality big caps too? Many questions to ask myself in this trying bear market.