The thing is ,up until SIP went into a trading halt there was no indication,as far as i am aware,that there was a problem with SIP and they were sticking by their interim forecast. Unlike the examples they give in the article which ,as far as i am aware ,most were basket cases already or had a cloud hanging over their heads. As a few articles have suggested ,it looks to me like the auditors spat the dummy and wouldn't sign off, which then opened a can of worms for SIP management who now are madly running around in damage control trying to patch things up before SIP are back on the bourse.
Nothing said so far by management indicates they will go belly up, but it doesn't look good and once back on the bourse,depending on the announcement,it could be the start of a slow lingering death.
Just imagine if they announce a relatively benign outcome (dream on) ,there will be questions asked about the abuse of suspensions by companies, specifically SIP.
You have all heard of the chinese curse "may you live in interesting times' Well sigma has it in spades.
SIP Price at posting:
90.0¢ Sentiment: None Disclosure: Held
