Monday, January 28, 2013

"Suntech Power Found to Have Evaded CNY 6 Mn in Taxes" ($STP)

From one of these weird Chinese news sources that never gets picked up in the U.S.:
"The tax authority has found out that Suntech Power Holdings Co., Ltd. have evaded almost CNY 6 million in taxes, according to a China Business Journal report. Suntech has not made any comment on this issue."
Very interesting. What's odd is that's only about a million dollars. Not much money, but this looks like laying the groundwork to liquidate/nationalize, and not a bailout.
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2 comments:

  1. JasonJanuary 28, 2013 at 1:17 PM

    Nice find CP...have you looked at CEDC? Their March bonds are trading at huge discount like STP.

    ReplyDelete
  2. CPJanuary 28, 2013 at 1:20 PM

    Thanks, we have the same trade on I just haven't written about it yet.

    Looks like STP will go to zero, they are basically out of time.

    ReplyDelete