Wednesday November 26, 2014
Logistics Issue No 2 at the Greek Hovel – Smoking Myself Out but feeling Macho
Video Postcard #90 - The Rochester fallout, UKIP, immigration and the despised political classes
Off to Ireland for the Weekend – Ballymaloe beckons

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Geong – Another Crap Chinese Company on AIM provides pure comedy

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- Tom Winnifrith

AIM listed Chinese joke company Geong (LSE:GNG) is always a bundle of laughs. This is a company that works on projects for 18 months, does not invoice yet books the amounts as income. I have pointed out before that its balance sheet backing is illusory, that its “profits” ho ho ho never translate into cash and that it would probably be out of cash within a year. That was in September. But today the company has served up a stormer of a statement and I have just got even more bearish. This is a classic China bubble story.

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