Friday, 16 April 2010
The Hontex Scandal: Now, It's KPMG's Turn | CFO innovation ASIA
Very interesting read.
good that KPMG whistle-blow themselves!
Danger in China & asia is that the perceived return of corruption and likely opportunity of 'making it rich' are truely once in a life time.. therefore, we need more transparency, reporting, and better 'medium' to 'longer' term opportunities, rather than short term ones.
Listing of chinese or asian companies are not also the best fit for some.. as 1.) company itself might not be transparent enough, due to what's been mentioned above. 2.) retail investors are also sometimes clueless as to what investing is all about, some in HK/China mostly buy shares based on 'tips' or purely on the recommendations by media/friends/taxi drivers... hence major review of 2009's IPOs: http://bit.ly/cSzpSu (where Martin was at our last CXO HK lunch in 2009)
may we live in interesting times.