Big Picture :not good PR for Chinese ASX listed Companies whom...

Big Picture :not good PR for Chinese ASX listed Companies whom like SBB are already on the nose with ASX investors..here is some details..

The Company at question looks to be DXF ... they declared a maiden dividend which has not yet been paid ( 6 months + later) ...

From their latest quarterly released to ASX 27 July 17 with reasons .. they are now suspended as they could not meet reporting deadlines ..  ASX is on the front foot on the repatriation issue ...

Delayed Dividend Payment Update
In the latter part of 2016, the Company declared a maiden dividend of 1 cent per share. It also announced the adoption of a dividend reinvestment plan (DRP) allowing shareholders to reinvest that maiden dividend in the Company. As later announced, the payment date was delayed due to the changes in the regulatory processes related to the transfer of funds from China. The Company is continuing to seek the relevant approvals and will update the market in due course. The Company’s four largest shareholders, including key executives in China (holding approximately 71.3% of the issued capital of the Company) whilst very supportive of the dividend to minority shareholders, have waived their right to a dividend and will not take the cash nor seek to participate in the DRP, requesting that the Company retain that capital for its growth initiatives.

With regard to SBB - the Australian Head Office expenses are funded via a loan from the MD and later repaid- small $ in the scheme of things but the way it is done is not a clean transaction directly betweeen the Holding Company ( Australia) & Subsidiaries ( HK/PRC).

From the Half Year Accounts released 31 August 17 -p14

18. Related party transaction
During the period Mr Jiayin Xu (Director) advanced funds ($233,593) to the company to meet certain operating and administrative expenses in Australia while the company transferred funds ($398,593) back to Mr Jiayin Xu (Director). The total outstanding at 30 June 2017 is $25,000 (as at 31 December 2016: 190,000).