Somehow, I feel vindicated, even though I am sorry for all the investors who have suffered from this scam. I invested in DFM from 2016 to 2018. Along the way, I had increasing concerns as to the probity of this company. E.g.
Non-disclosure of third parties from whom it "purchased" orchards.
Frequent resignation and replacement of Company Secretaries.
Previous convictions or securities investigations in Hong Kong of some directors.
General lack of transparency.
I was glad to quit at a small profit and did do as soon as circumstances gave the opportunity. However, I feel that questions can be asked as to how a company like this could be listed on the ASX and why was there not an earlier intervention?
What level of due dilgence was carried out prior to listing?
Was the ASX more concerned to attract Chinese capital than it was to protect the investing community?
Why did the ASX/ASIC ignore warning signs along the way, even before the Australian directors resigned?
Given that there have been a number of small "Chinese" companies on the ASX fall into trouble, why has there not been a general investigation in order to protect investors?
DFM Price at posting:
83.0¢ Sentiment: Sell Disclosure: Not Held
