AirAsia Under Pressure As Accounting Questioned; Stock slumps 20% as accounting practices come under fire, adding to concerns about a weak ringgit

http://online.barrons.com/articles/airasia-under-pressure-as-accounting-questioned-1434431077

AirAsia Under Pressure As Accounting Questioned; Stock slumps 20% as accounting practices come under fire, adding to concerns about a weak ringgit.

ROBERT GUY

June 16, 2015

It’s been a tough six months for AirAsia chief executive Tony Fernandes as he’s grappled with the tragic aftermath of the crash of flight 8501, which plunged into the Java Sea off Indonesia just after Christmas. Having worked hard to contain the damage to the reputation of the Malaysian airline which over the past decade forged a reputation as a pioneer of low cost airline travel across Asia, Fernandes now confronts a new challenge threatening the company’s reputation – questions about its accounting practices. Continue reading

China’s Cellular Biomedicine (NASDAQ: CBMG): Patient Death, Fraud Ties And Paid Stock Promotion

http://seekingalpha.com/article/3054796-cellular-biomedicine-strong-sell-on-car-t-failure-dishonesty-allegations-and-stock-promotion-minus-94_6-percent-downside

http://pumpstopper.com/?p=346

Hagens Berman Reminds Investors in Cellular Biomedicine Group, Inc. (NASDAQ: CBMG) of June 22nd Lead Plaintiff Deadline

May 26, 2015: 08:30 AM ET

SAN FRANCISCO, May 26, 2015 (GLOBE NEWSWIRE) — Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors of the June 22, 2015 lead plaintiff deadline in a class action lawsuit filed against Cellular Biomedicine Group, Inc. (Nasdaq:CBMG) (“Cellular Biomedicine” or “the Company”). The suit is pending in U.S. District Court for the Northern District of California, and investors who purchased Cellular Biomedicine securitiesbetween June 18, 2014 and April 7, 2015, (the “Class Period”) have until June 22, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Cellular Biomedicine securities during the Class Period you may contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling (510) 725-3000, emailing CBMG@hbsslaw.com or visitinghttp://hb-securities.com/investigations/CBMG. No class has been certified in this case.

The complaint alleges that Cellular Biomedicine made false and/or misleading statements and/or failed to disclose that it achieved a $500 million valuation by using paid stock promoters, which it failed to disclose in its regulatory filings pursuant to Section 17(b) of the Securities Act of 1933.  Moreover, Cellular Biomedicine failed to disclose that the Company’s “Car-T” technology had experienced patient deaths and lacked any meaningful valuation.

The truth emerged in an April 7, 2015, report published on Seekingalpha.com, alleging that the Company was engaged in a fraudulent scheme to mislead investors and that the Company lacked any meaningful financial value. The report disclosed that Cellular Biomedicine was previously a company that focused on Nintendo screens for RVs and Boats, which then morphed into a consulting firm claiming to help Chinese companies access American investors.  It became a biosciences company upon merger with an offshore stem-cell clinic. On this shocking news, the Company’s securities declined $7.00 per share, or over 21.7%, to close at $25.22 per share on April 7, 2015.

Continue reading

Here’s Why Ezra and Noble Group May Actually Deserve Their Shocking Price Declines

https://www.fool.sg/2015/06/15/heres-why-ezra-holdings-limited-and-noble-group-limited-may-actually-deserve-their-shocking-price-declines/

Related: Helping Other CEOs Avoid Bad Press: Social Exchange and Impression Management Support among CEOs in Communications with Journalists: Link

Here’s Why Ezra Holdings Limited and Noble Group Limited May Actually Deserve Their Shocking Price Declines

By Chong Ser Jing – June 15, 2015 | More on: 5DNES3N21^STI

Offshore support services provider Ezra Holdings Limited (SGX: 5DN) and commodities trader Noble Group Ltd (SGX: N21) have received lots of attention from market participants as a result of their stunning price declines. Over the past 12 months, Ezra’s shares have sunk by nearly 75% in price while Noble’s shares have lost half their value. It’s been a painful experience for investors in the companies, to say the least. To add insult to injury, the SPDR STI ETF (SGX: ES3) – an exchange-traded fund tracking Singapore’s market benchmark the Straits Times Index (SGX: ^STI) – has inched up by 1.2% over the same period.

The finger of blame

This disparity between the performance of the two shares and the broader market have resulted in some pointing the finger of blame at short-sellers as culprits for the price declines. At first glance, there are merits to the accusations. In an article published in the Straits Times today titled “The long, vice-like arm of short sellers”, renowned financial journalist Goh Eng Yeow wrote that Ezra and Noble are “two of the most heavily shorted firms on the local bourse.” Goh also gave some good statistics on how the percentage of shares out on loan for both Ezra and Noble, “presumably to short-sellers,” had grown markedly over the past year: Ezra’s shares out on loan had grown from 2.9% in July to 11.2% currently. As for Noble, the selfsame figure had ballooned from near-zero to nearly 6% over the same period.

But, I’d like to suggest that it may not be the short-sellers who are causing the price declines. Sure, the short-sellers may have been catalysts for the painful drops, but their actions are a possible manifestation of a bigger issue: Both Noble and Ezra’s business performance have been dreadful over the past six years since 2009. Continue reading