In my opinion, there are more that fifty Chinese companies listed on ASX, and many of them have proved fraudulent like CDC. It appears as if ASX had been more interested in generating own fees rather than watching the interests of Australian shareholders of Chinese companies. I think a joint action against all delisted Chinese companies, and Australian regulatory agencies may be good strategy. If any one is having links with Australian Shareholders Association (ASA), he/she may discuss the case in general. Also, seeking advice / involving Andrew Stoner may prove beneficial. Highlighting the issue in print and electronic media may also have impact. However, no hope of recovery of loss.
CDC Price at posting:
6.6¢ Sentiment: None Disclosure: Held