Part 4 dari Laporan keuangan Tianshi membahas lebih lanjut berbagai masalah tiens seperti fakta ttg pabrik kontrakannya, masalah pajak, dll.
WE MAY NOT BE REFUNDED MONIES WE HAVE PAID FOR THE TIENS YIHAI PROPERTY.
In 2005, the Chinese central government issued its “Adjustment of Macro-Economic Policy”. This policy implemented a new system of investment and use of state-owned assets, including land. Pursuant to this policy, local government organizations adjusted and re-allotted projects, including investment, construction and reconstruction of state-owned resources. As a result, projects and enterprises that had been affected, including Tiens Yihai, were awaiting further decisions by state and local government.
On November 10, 2006, Tiens International and the Local Government entered into a supplemental agreement pursuant to which the parties have agreed to the acquisition of land use rights by Tiens Yihai of a reduced 486 mu (80 acres) parcel of land. In order to proceed with the purchase of land use rights of the property by Tiens Yihai, Tianshi Holdings is required to provide a loan of $6.4 million to the Local Government for relocation costs for people living on the property. The $6.4 million loan is to be funded in two installments:
• The first installment of $3.2 million was paid on November 27, 2006.
• The second installment of $3.2 million is to be paid after Tiens Yihai obtains a construction license to develop the property. The parties have agreed to allow Tianshi Holdings to reduce this second installment by the amount of the $1.6 million refund due to it.
In return for the loan, Tiens Yihai will receive a tax credit in the amount of the loan. In March 2007, we received notice that the Local Government had approved the land use rights for 50 acres of the Tiens Yihai property. As a result of the reduction in the number of acres for which we have received land use rights and continued uncertainty relating to the Tiens Yihai project, management made a decision to suspend the development of the project. We are currently reviewing alternative commercial uses for the Tiens Yihai site, as well as the possibility of selling the land use rights to a third party. If Tiens Yihai does not proceed with construction on the Tiens Yihai site or is not able to sell the land use rights to a third party, it is not clear whether the Local Government will return the $1.6 million it previously agreed to refund or repay the initial loan of $3.2 million made in November 2006.
Yah kena sita ya , pabrik Tianshi di Cina
Akibat kebijakan ekonomi makro RRC sendiriJadi Tianshi masi ngontrak tanah / sewa tanah nih ya dari Pemda , masi hutang 6,4 juta dollar ama pemerintah daerah ?
Cicilan kontrak dibayar 3,2 juta dollar dulu deh 2006
Jadi bila Tiens tidak sanggup memenuhi target pembangunan kantor dan pabrik nya di Tiajin , atau tidak berhasil menjualnya pada pihak ke 3, tidak jelas, apakah Pemda Tianjin sesudah menyita pabrik dan asset tianshi, akan mau mengembalikan cicilan yang udah dibayar Tianshi sejumlah 3,2 juta dollar
KASIHAN YA TIANSHI,
JADI RAKYAT INDONESIA HARUS CARIKAN TERUS UANG BUAT PAK LI BIAR BISA BAYAR KONTRAK KANTORNYA DI TIANJIN SANA…
JANGAN SAMPAI KANTOR DAN PABRIK (YG BELUM JADI) DISITA PEMDA TIANJIN YAH!!!! Bakalan semakin malu-maluiinnnn hahahahaha…..
THE LEGAL AUTHORITIES IN CHINA ARE IN THE PROCESS OF EVALUATING HERETOFORE TAX AND FEE BENEFITS PROVIDED TO FOREIGN INVESTORS AND COMPANIES TO ENCOURAGE DEVELOPMENT WITHIN THE COUNTRY SUCH THAT THESE BENEFITS MAY BE LESSENED OR REMOVED WITH THE CONSEQUENCE THAT EXPENSES MAY RISE IMPACTING MARGINS AND NET INCOME.
Biological is located in Tianjin Wuqing Development Area, a national new technology development zone, and is subject to the special reduced income tax rate of 15%. Pursuant to the approval of the relevant PRC tax authorities, Biological is fully exempt from PRC income taxes for two years starting from the year profits are first made, followed by a 7.5% reduced tax rate for the next three years.
Prior to the year ended December 31, 2002, Biological suffered operating losses. Biological started generating taxable profits in the year ended December 31, 2003. Effective January 1, 2005, the two-year full exemption for income taxes expired for Biological and it became subject to income tax at a reduced rate of 7.5%.
Beginning January 1, 2008, the new Enterprise Income Tax (“EIT”) law will replace the existing laws for Domestic Enterprises (“DES”) and Foreign Invested Enterprises (“FIEs”). The new standard EIT rate of 25% will replace the 33% rate currently applicable to both DES and FIEs. The two years tax exemption, three years 50% tax reduction tax holiday for production-oriented FIEs will be eliminated. According to the new EIT, high-tech companies could be subject to a special reduced tax rate of 15%. The qualification of a high-tech company is to be reviewed annually. Biological currently qualifies as a high-tech company. However, there are no detailed regulations regarding the implementation of new EIT. In the first quarter of 2008, we were required by local tax authority to prepay income tax at a tax rate of 25%. We are currently evaluating the effect of the new EIT law will have on our financial position.
Karena Tianshi mengakui sebagai perusahaan HIGH TECH
Pajakanya di Cina gede …
Berat ya bayar pajak di Cina sendiri ??
WE ARE SUBJECT TO COMPLEX CHINESE BUSINESS REGULATIONS.
Tianshi keberatan ama kebijakan ekonomi Negara nya sendiri!!!
Parah banget dah nyalahin sana-sini mulu di laporannya wkwkwkwk
BECAUSE MOST OF OUR DIRECTORS AND OFFICERS RESIDE OUTSIDE OF THE UNITED STATES, AND SUBSTANTIALLY ALL OF OUR ASSETS ARE LOCATED OUTSIDE OF THE UNITED STATES, IT MAY BE DIFFICULT FOR INVESTORS TO ENFORCE THEIR LEGAL RIGHTS AGAINST SUCH INDIVIDUALS OR SUCH ASSETS.
Most of our directors and officers reside outside of the United States, and substantially all of our assets are located outside of the United States. As a result, it may not be possible for investors in the United States to enforce their legal rights, to effect service of process upon our directors or officers or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties of our directors and officers under Federal securities laws. Although China has executed the Agreement on Mutual Judicial Assistance in Criminal Matters with the United States in June 2000, there is no extradition treaty between the United States and China. Therefore, it is unclear whether criminal penalties under United States federal securities laws would be enforced effectively in China, if at all.
Berhubung Mr li dan keluarganya tinggal di luar USA
Hehehehe jadi pemerintah USA, tidak bisa memberikan hukuman kepada para pejabat Tianshi
Wewkwkwk….Bangga sekali pak Li, kalo dia tidak bisa dikejar hukum USA, hahaha
Ini alasan2 lainnya atas kegagalan Tianshi :
THE CHINESE LEGAL SYSTEM IS NOT FULLY DEVELOPED AND HAS INHERENT UNCERTAINTIES THAT COULD LIMIT THE LEGAL PROTECTIONS AVAILABLE TO INVESTORS.
ENFORCEMENT OF REGULATIONS IN CHINA MAY BE INCONSISTENT.
WE MAY EXPERIENCE LENGTHY DELAYS IN RESOLUTION OF LEGAL DISPUTES.
CHINESE ECONOMIC, POLITICAL AND SOCIAL CONDITIONS AS WELL AS GOVERNMENT POLICIES COULD ADVERSELY AFFECT OUR BUSINESS.
FLUCTUATIONS IN THE VALUE OF THE CHINESE RENMINBI RELATIVE TO FOREIGN CURRENCIES COULD AFFECT OUR OPERATING RESULTS.
Sekarang kepada public pemegang saham, inilah risiko2 anda memegang saham tianshi
Berdasarkan laporan Tianshi sendiri kepada USA :
THE LIQUIDITY OF OUR COMMON STOCK IS AFFECTED BY ITS LIMITED TRADING MARKET.
Shares of our common stock are traded on the American Stock Exchange under the symbol “TBV”. There is currently no broadly followed established trading market for our common stock. An established trading market may never develop or be maintained. Active trading markets generally result in lower price volatility and more efficient execution of buy and sell orders. The absence of an active trading market reduces the liquidity of shares. The trading volume of our common stock historically has been limited and sporadic. As a result of this trading activity, the quoted price for our common stock is not necessarily a reliable indicator of its fair market value. Further, if we cease to be quoted, holders would find it more difficult to dispose of, or to obtain accurate quotations as to the market value of our common stock and the market value of our common stock likely would decline.
OUR COMMON STOCK MAY BE SUBJECT TO REGULATIONS PRESCRIBED BY THE SECURITIES AND EXCHANGE COMMISSION RELATING TO “PENNY STOCK”.
The Securities and Exchange Commission has adopted regulations that generally define a penny stock to be any equity security that has a market price (as defined in such regulations) of less than $5.00 per share, subject to certain exceptions. If our common stock meets the definition of a penny stock, it will be subjected to these regulations, which impose additional sales practice requirements on broker-dealers who sell such securities to persons other than established customers and accredited investors.
WE ARE MAJORITY OWNED BY ONE STOCKHOLDER.
Our president and chief executive officer, Jinyuan Li, controls a majority of our common stock. Mr. Li beneficially owns approximately 92% of our outstanding common stock. As a result, Mr. Li has the ability to exert significant control over our management and affairs requiring stockholder approval, including approval of significant corporate transactions. This concentration of ownership may have the effect of delaying or preventing a change in control, including a merger, consolidation or other business combination involving us, or discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control, even if such change of control would benefit our other shareholders.
OUR COMMON STOCK WILL LIKELY BE SUBJECT TO SUBSTANTIAL PRICE AND VOLUME FLUCTUATIONS.
The stock market has experienced extreme price and volume fluctuations in recent years that have significantly affected the quoted prices of securities of many companies, including companies in our industry. The changes often appear to occur without regard to specific operating performance. In addition, there has been a limited public market for our common stock. We cannot predict the extent to which investor interest in us will be maintained. Such interest is necessary for an active, liquid trading market for our common stock. Active trading markets generally result in lower price volatility and more efficient execution of buy and sell orders for investors. The price and trading volumes of our common stock may fluctuate widely due to the limited public market for our stock.
SHARES AVAILABLE FOR FUTURE SALE MAY DILUTE AND DEPRESS THE PRICE OF OUR COMMON STOCK.
A significant number of our shares are eligible for sale pursuant to Rule 144, and their sale could depress the market price of our stock. Some or all of the shares of common stock may be offered from time to time in the open market pursuant to Rule 144, and these sales may have a depressive effect on the market for the shares of common stock. In general, a person who has held restricted shares for a period of one year may, upon filing with the SEC a notification on Form 144, sell into the market common stock in an amount equal to the greater of 1% of the outstanding shares or the average weekly number of shares sold in the last four weeks prior to such sale. Such sales may be repeated once each three months, and any of the restricted shares may be sold by a non-affiliate after they have been held two years.
WE DO NOT ANTICIPATE PAYING DIVIDENDS IN THE FORESEEABLE FUTURE, AND THE LACK OF DIVIDENDS MAY HAVE A NEGATIVE EFFECT ON THE STOCK PRICE.
We have never declared or paid any cash dividends or distributions on our common stock. We currently intend to retain our future earnings to support operations and to finance expansion and, therefore, do not anticipate paying any cash dividends on our common stock in the foreseeable future.
INILAH SUSUNAN KERAJAAN TERBARU TIANSHI…BERDASARKAN RAPAT TAHUNAN 2007, BERHUBUNG 92% SAHAM DIPEGANG PRES LI, YA TAU SENDIRI LAH,..
YANG GA SETUJU AMA KEPEMIMPINAN PRES LI HARUS NGALAH!!
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
On December 4, 2007, the annual meeting of stockholders of the Company (the “Annual Meeting”) was held at the Company’s Tianjin offices for the following purposes:
1. Elect the following persons to the Board of Directors: Jinyuan Li, Wenjun Jiao, Yupeng Yan, Gilbert Raker, Howard Balloch, and Socorro Quintero.
2. Ratify the Board of Directors’ appointment of Grobstein, Horwath & Company LLP, the independent public accountants as the auditor of the Company for the fiscal year 2007.
In this Annual Meeting, there were accordingly present, in person or by proxy, an aggregate of 67,970,169 shares of Common Stock, such shares being a majority of the 71,333,586 shares of Common Stock entitled to notice of and to vote at the meeting.
The result of the vote taken for the election of directors at the meeting was as follows:
Directors No. of Shares For No. of Shares Against Withheld Authority
Jinyuan Li 67,959,959 10,210 0
Wenjun Jiao 67,959,959 10,210 0
Yupeng Yan 67,959,959 10,210 0
Socorro Quintero 67,959,959 10,210 0
Howard Balloch 67,959,359 10,810 0
Gilbert Raker 67,959,959 10,210 0
The result of the vote taken for the ratification of the appointment of Grobstein, Horwath & Company LLP was as follows:
• 67,959,924 shares voted in favor of the proposal,
• 7,208 shares voted against the proposal, and
• 3,037 shares abstained.
bersambung ke part 5
http://www.kaskus.us/showthread.php?t=865698atau bila anda sekalian memiliki berbagai keluhan/pengaduan mengenai tianshi? lgs saja hubungi kami lewat : :
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