London Asia Capital Share Discussion Threads

[loverat] 21/4/2010 18:35

Some posters here who I recognise and indeed respect.

Sorry for the intrusion but I would be grateful if posters would consider signing this petition. It is in relation to claimants exploiting libel laws for their own financial benefit. The implications could involve communications on BB's like this.

[loverat] 18/4/2010 15:15

Well, not as consistent as the previous management.

Consistently poor, consistently deceptive and consistently negligent.

Perhaps someone could just phone them? I am sure there is nothing to be concerned about.

[topvest] 18/4/2010 13:21

Yes, late again....... Well at least they are consistent!

[capt bligh] 16/4/2010 09:51

Weren't we spposed to have the 2009 figures by now?

[dougcsv] 06/4/2010 19:15

topvest, It wouldn't surprise me at all.

[loverat] 06/4/2010 17:30

dougcsv

Sorry - just realised I should have posted on this thread. No point having two threads really. Never mind - but if you contact Keith Negal in the near future is it possible you could ask him who he is or has referred his findings to. I just wonder if the SFO might be involved as the sums involved are very significant. If you are not likely to contact him I will enquire myself. Many thanks


P.S There was one shareholder or ex shareholder who never did contact me but he said something along the lines that he had a series of e-mails etc on his memory stick and would be prepared to assist. I just wonder if that person took this information forward - e.g perhaps sent it to KN. I would just be interested
as I believe that anything incriminating should be taken forward. That poster may have been nickduk?

[loverat] 06/4/2010 17:23

curt3 - 1 Aug'09 - 11:13 - 3 of 15

the former directors appear to have simply dumped all responsibility and washed their hands of the whole shebang !! I cannot understand why the gross mismanagement of this company has not been referred to the FSA for investigation. For several it was possible to produce accounts and annual reports with bullish sentiments. Then suddenly LDC and all its investee companies went silent and were delisted leaving us shareholders in a vaccumn. In my view it is gross negligence at the very least.

curt3

I would be interested in your observations since you posted above. You must be pleased with the report published by Keith Negal and the findings which he said
would be presented to the authorities in due course. For my part, I also sent my own report to the FSA regarding two individuals which is quite separate from any action the company is taking and not LAC specific. We'll see if anything does come of it but I believe it is supported by evidence of wrongdoing and I believe is certainly a firm basis to look further into the activities of these individuals. The excercise has been frustrated slightly because alot of the likely offending posts were removed by ADVFN for breaching the terms and conditions (e.g in response to complaints) over a long period of time.

I understand however that these can probably be retrieved should the FSA require them.

dougcsv

Sorry - just realised I should have posted on the other thread. Never mind but if you contact Keith Negal in the near future is it possible you could ask him who he is or has referred his findings to. I just wonder if the SFO might be involved as the sums involved are very significant. If you are not likely to contact him I will enquire myself. Many thanks


P.S There was one shareholder or ex shareholder who never did contact me but he said something along the lines that he had a series of e-mails etc on his memory stick and would be prepared to assist. I just wonder if that person took this information forward - e.g perhaps sent it to KN. I would just be interested
as I believe that anything incriminating should be taken forward. That poster may have been nickduk?

[loverat] 06/4/2010 17:02

Yes - they did say the accounts would be complete in March but as you say they have not always met their targets which perhaps were overly ambitious in these difficult circumstances. I think they also said they were formulating a plan for the way ahead which should be interesting. I guess the delay is because of the amount of work involved and hopefully whatever they announce will have been worth waiting for.

Good luck all.

[topvest] 03/4/2010 18:29

2009 accounts missed the March deadline then, by the looks of things. They have consistently missed their timetable which is rather irritating!

Anyway, can't be far off getting the 2009 accounts now and then we get the tender offer and re-listing....hopefully!!!

[loverat] 17/3/2010 07:01

Looks like the posters on the other thread were right about the poster called
'painting' being Littlewood. Quite unbelievable goings on at the company and meanwhile he and fellow directors were merrily posting away for years. No wonder there is no confidence in the integrity of the markets when directors act in this fashion.

And this looks like him also.

winterfun - 30 May'08 - 01:29 - 8704 of 9149

the company is run by someone in Cornwall (their new global HQ!) who seems to have no experience in China, private equity, fund managment, banking, or anything else relevant to what LDC is supposed to be doing. They've announced the closure of their offices in China, so presumably the staff that had any idea of how to run the business have disappeared, so who is going to manage their assets and generate any income? No surprise people heading for the exit. What institutional investor is going to back this?

[irenekent] 11/3/2010 14:08

If they are so good I look to see Anthony Bolton and his new Fidelity fund buying them out! Could be interesting to see if all the hype around Bolton influences the way China investments are viewed by ordinary private investors.

[tokyojohn] 11/3/2010 13:57

Thanks SL3! Sounds very promising. I hope the current directors got a warm welcome at the AGM. They certainly seem to be doing a great job.

[stevenlondon3] 11/3/2010 09:59

I went to the general meeting on the 8th March.
- 2009 acoounts at auditors and should be posted before the end of march to have the AGM in the middle of April.
- The accounts should include greater detail of the group's major assets and proposals as to how to develop the company.
- These details were saild to be of "considerable benfit " to shareholders.

[stevenlondon3] 26/2/2010 10:48

London Asia receives a dividend from Asia Power (£192,000). Can anyone throw light on the reason why Richpoint (presumably Asia Power) has taken a 29% stake? Who sold?

[dougcsv] 25/2/2010 08:38

blackonday - I noticed that and meant to check up on it but hadn't got around to it. thanks for doing so and posting it up. i shall dig a bit further I think.

[loverat] 25/2/2010 04:58

Yes - looks like your man. Still, the link looks an indirect one and probably nothing to worry about. Former director of LAC and COMG and several dozen other companies, I believe. He seems to have left this information off his CV - and also this:


LAC investigation:

Diversion of Funds

In December 2007, London Asia Capital (Singapore) PTE Limited ("LAC(S)") was due £1.6 million from China Growth Opportunities plc in respect of performance fees. At the written instructions of Josée Lai, wife of Simon Littlewood, these funds were not paid to LAC(S) but instead to London Asia Fund Management Ltd, a Brunei company in which LAC held 40% of the equity, while Simon Littlewood and associates held the remaining 60% shareholding.

On receipt of these funds by the Brunei company, £401,440 was immediately transferred to each of Simon Littlewood and Joyce Ng. In so far as your Directors are aware, LAC and its subsidiaries have no contractual relationship with Joyce Ng although she has been in receipt of substantial sums from LAC Group companies.

[dougcsv] 23/2/2010 16:28

The 2008 report is now on the website.

[kingsbridge] 23/2/2010 13:52

Hi Steve
The meeting is to be held at the offices of Speechly Bircham LLP, 6 New Street Square, London EC4A 3LX this is a general meeting rather than the Company's Annual General Meeting, which will be held later this year.
The meeting starts at 10.30am on Monday 8th March 2010.

Kingsbridge

[stevenlondon3] 23/2/2010 09:33

Does anyone know the date of the AGM...cheers?

[loverat] 23/2/2010 07:48

I remember there was some confusion about China Eastsea. Even Keith Negal's predecessor was not all that sure.



tenniselbow - 26 Aug'08 - 12:04 - 8757 of 9138

Eastsea does LDC still hold ?


Anyway - in case anyone missed it, they do hold but that company has today proposed to delist.


RNS Number : 6717U
China Eastsea Business Software Ltd
29 June 2009

China Eastsea Business Software Limited


"China Eastsea" or the "Company"


Significant Shareholders Interest


China Eastsea (AIM: CESG), which provides information technology and business
process outsourcing services, announces that on 24 June 2009, the Company
received notification that as of 24 June 2009, London Asia Capital Plc. wishes
to clarify that it holds 2,780,000 ordinary shares which equates 3.6 per cent.
of the Company's issued share capital.


Enquiries:

[dougcsv] 20/2/2010 19:05

Like leapinn I don't get these unless I go looking - which I hadn't so thanks very much - off to have a look.

Ta,

D.

ha. not on the website yet !!

[topvest] 20/2/2010 17:31

I see that London Asia Investments Limited, one of London Asia Capital PLC's subsidiaries, has changed it's name to Sunrise New Energy Group Limited - as per Companies House. This makes me wonder whether they will restructure the group prior to the AIM listing, as it can't be easy (may be impossible) to list a group with a disclaimer audit opinion. What they may do is to acquire the value from London Asia Capital in some way to ring fence the previous accounting irregularities.