30 May '11, 6am

IM$avvy Headlines: Are S-chips being unfairly penalised? #Singapore #investment

PANDEMONIUM broke out early last week among the remaining S-chips still favoured by local investors after China's authorities uncovered irregularities in the financial statements of 17 major Chinese state-owned firms. Since January, accounting irregularities had been uncovered among four S-chips but in the United States, the scams appeared to have reached epidemic proportions, with questionable accounting issues being reported in 30 firms since March alone. No one could blame investors for feeling jittery even though the accounting violations had nothing to do with any of the companies listed here. After all, news that even state-owned companies under the close supervision of China's National Audit Office (NAO) could not get their sums right only serves to deepen suspicion here over the reliability of financial data furnished by the troubled S-chip sector. Even the assuran...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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